Common use of Failure to Pay or Borrow on Certain Dates Clause in Contracts

Failure to Pay or Borrow on Certain Dates. If any payment of a Eurodollar Rate Advance occurs on a date which is not the last day of the applicable Interest Period, whether because of acceleration, prepayment or otherwise, or a Eurodollar Rate Advance is not made on the date specified by the Company for any reason other than default by the Banks, the Company will indemnify each Bank for any loss or cost incurred by it resulting therefrom, including, without limitation, any loss or cost in liquidating or employing deposits acquired to fund or maintain the Eurodollar Rate Advance.

Failure to Pay or Borrow on Certain Dates. If any payment of a Eurodollar Rate Advance occurs on a date which is not the last day of the applicable Eurodollar Interest PeriodPeriod (whether due to a mandatory payment, whether because of accelerationan optional payment, prepayment or otherwise), or a Eurodollar Rate Advance is not made on the date specified by the Company for any reason other than default by the Banks, the Company will indemnify each Bank for any loss or cost incurred by it resulting therefrom, including, without limitation, any loss or cost in liquidating or employing deposits or contractual undertakings acquired to fund or maintain the such Eurodollar Rate Advance.