Prepayments Requiring Additional Compensation Clause Samples

Prepayments Requiring Additional Compensation. Borrower understands that in making a LIBOR Advance, the Bank may enter into funding arrangements with third parties on terms and conditions which could result in substantial losses to the Bank if such Advance does not remain outstanding at its agreed interest rate for its entire Interest Period. Therefore, if any LIBOR Advance is totally or partially prepaid prior to the last day of its current Interest Period (whether prepayment is voluntary, is required under § 3.7, is due to acceleration of the Operating Loan, or otherwise), then Borrower shall pay to the Bank within ten (10) days of the prepayment date, as liquidated damages and not as a penalty, an amount equal to the Bank’s Funding Loss. For the purposes hereof, “Funding Loss” means any loss (including loss of interest income), cost or expense which may be incurred by the Bank by reason of the reemployment, for the Prepayment Period, of the funds acquired by the Bank to fund an Advance which has been prepaid. “Prepayment Period” means the number of days from the date on which the prepayment is received by the Bank to the end of the then current Interest Period, including the first day but excluding the last. The Bank shall submit to Borrower a written statement stating the basis for determining such amount, which statement shall be conclusive for all purposes in the absence of demonstrable error.
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Related to Prepayments Requiring Additional Compensation

  • No Additional Compensation Notwithstanding any other provision of this Agreement, the obligation of Agency to return Referred Accounts, provide current status reports of all such accounts or information reasonably required by Client shall be without right to any additional Contingent Fee, administrative fees or other compensation of any kind or type whatsoever after such termination date, including, without limitation, in quantum meruit, for any Services rendered prior to termination (except on recoveries received and remitted to Client pursuant to this Agreement prior to termination) whether or not said Services result in or contribute to recoveries received after termination.

  • Additional Compensation Notwithstanding anything in this Memorandum of Understanding to the contrary when in the judgment of the Board, it becomes necessary or desirable to utilize the services of County employees in capacities other than those for which they are regularly employed, the Board may authorize and, if appropriate, fix an additional rate of compensation for such employees.

  • Reduction of Compensation If the Firm fails to meet the submission date by less than thirty days for the draft report and/or working papers submitted to the Office of the State Auditor for review and approval or by less than thirty days from the completion date for the final reports and/or corrections to the working papers prescribed herein, the District may, with the consent of the Office of the State Auditor, reduce the agreed compensation by an amount not to exceed ten percent of the total contract price for the applicable fiscal year. If reports and/or corrections to the working papers are overdue by 30 days or more, the District may reduce, with the consent of the Office of the State Auditor, the agreed compensation by an amount not to exceed twenty percent of the total contract price for the Rev. 10/20 applicable fiscal year.

  • Final Compensation Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS prior to January 15, 2011, is based on the highest average monthly pay rate during twelve (12) consecutive months of employment. Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS on or after January 15, 2011, is based on the highest average monthly pay rate during thirty-six (36) consecutive months of employment.

  • Timing of Severance Payments Any severance payment to which Employee is entitled under Sections 3(a)(i)(1), 3(a)(i)(2) and 3(a)(i)(5) shall be paid by the Company to the Employee (or to the Employee's successors in interest pursuant to Section 7(b)) in cash and in full, not later than thirty (30) calendar days following the Termination Date, subject to any delay required under Section 9.