Calculation of Mandatory Cost Clause Samples
Calculation of Mandatory Cost. 1 The Mandatory Cost is an addition to the interest rate to compensate the Lenders for the cost of compliance with (a) the requirements of the Bank of England and/or the Financial Services Authority (or, in either case, any other authority which replaces all or any of its functions) or (b) the requirements of the European Central Bank.
Calculation of Mandatory Cost. Each Lender shall supply the Facility Agent (with a copy to the Borrower) with any information required by the Facility Agent in order to calculate the Mandatory Cost in accordance with schedule 8. 16 Facility Agent, Security Trustee and Reference Banks
Calculation of Mandatory Cost. Each Bank shall supply the Bank Agent (with a copy to the Borrower) with any information required by the Bank Agent in order to calculate the Mandatory Cost in accordance with schedule 8.
Calculation of Mandatory Cost. The mandatory cost rate referred to in the definition of “Pound Sterling Overnight Rate” and the “Pound Sterling Quoted Rate” in Section 1.01 of the Credit Agreement will be the rate determined by the Administrative Agent (rounded upward, if necessary, to four decimal places) in accordance with the following formula (expressed as a percentage per annum): Where on the day of application of the formula: C The amount required to be held as a non-interest bearing cash ratio deposit with the Bank of England expressed as a percentage of each of the Reference Bank’s Eligible Liabilities (above any stated minimum). F The amount of Pound Sterling per £1,000,000 of the fee base of each Reference Bank payable to the Financial Services Authority per annum (disregarding any minimum fee payable under the Fees Regulations). L The rate of interest per annum at which Pound Sterling deposits of an amount comparable to the Borrowing or other amount are offered by each Reference Bank to leading banks in the London interbank market at or about 11:00 a.m. on the date of calculation for a period comparable to the period for which the Mandatory Cost is to be calculated; or The Pound Sterling Overnight Rate for the relevant day as calculated without taking into account the Mandatory Cost is the rate of interest (less margin and the Mandatory Cost) payable on that day on the related Borrowing pursuant to clause Section 2.12 of this Agreement. S The amount required to be placed as Special Deposits with the Bank of England, expressed as a percentage of each of the Reference Bank’s Eligible Liabilities (above any stated minimum). Z The lower of L and the rate of interest per annum paid by the Bank of England on Special Deposits at or about 11:00 a.m. on the date of calculation. For the purposes of calculating the Mandatory Cost:
Calculation of Mandatory Cost. (a) The Mandatory Cost for the Advance during each period in respect of which interest is payable under this Agreement is the rate expressed as a rate per annum determined by the Lender to be equal to the rate notified by the Lender and calculated in accordance with the following formula:
Calculation of Mandatory Cost. For the purpose of this Agreement, the Mandatory Cost for any Bank in relation to a EURIBOR Rate Loan for each of its Interest Periods (or any other period for which interest is calculated) will be calculated by each Bank on the basis of such Bank's own rates in accordance with the following formula and shall be notified by that Bank to the Administrative Agent on the first day of each Interest Period (or as soon as possible thereafter): F x 0.01 % per annum. 300 Where: F is the charge payable by that Bank to the Financial Services Authority pursuant to the Fees Regulations (but, for this purpose, ignoring any minimum fee requirement pursuant to the Fees Regulations) and expressed in Pounds Sterling per (pound)1 million of the fee base of that Bank.
Calculation of Mandatory Cost. For the purpose of this Agreement, the Mandatory Cost for any Bank in relation to a EURIBOR Rate Loan for each of its Interest Periods (or any other period for which interest is calculated) will be calculated by each Bank on the basis of such Bank's own rates in accordance with the following formula and shall be notified by that Bank to the Administrative Agent on the first day of each Interest Period (or as soon as possible thereafter): F x 0.01 % per annum. 300 Where: F is the charge payable by that Bank to the Financial Services Authority pursuant to the Fees Regulations (but, for this purpose, ignoring any minimum fee requirement pursuant to the Fees Regulations) and expressed in Pounds Sterling per (pound)1 million of the fee base of that Bank.