Common use of Statutory Reserves Clause in Contracts

Statutory Reserves. For purposes of this definition, the term "Base LIBOR Rate" shall mean the rate (rounded to the next higher 1/16 of 1%) at which deposits of U.S. dollars approximately equal in principal amount to the LIBOR Portion specified in the applicable LIBOR Request are offered to Agent by prime banks in the London interbank foreign currency deposits market at approximately 11:00 a.m., London time, 2 Business Days prior to the commencement of such LIBOR Period, for delivery on the first day of such LIBOR Period. Each determination by Bank of any LIBOR Rate shall, in the absence of manifest error, be conclusive. LIBOR Request—a notice in writing (or by telephone confirmed by telex, telecopy or other facsimile transmission on the same day as the telephone request) from Borrower, on behalf of all Borrowers, to Agent requesting that interest on a portion of the Revolving Credit Loan, Term Loan A or Term Loans B be based on the LIBOR Rate, specifying: (i) the first day of the LIBOR Period; (ii) the length of the LIBOR Period consistent with the definition of that term; and (iii) the dollar amount of the LIBOR Revolving Credit Portion, LIBOR Term A Portion or LIBOR Term B Portion consistent with the definition of such terms. LIBOR Revolving Credit Portion—that portion of the Revolving Credit Loans specified in a LIBOR Request (including any portion of Revolving Credit Loans which is being borrowed by Borrower concurrently with such LIBOR Request) which is not less than $1,000,000 and is an integral multiple of $100,000, which does not exceed the outstanding balance of Revolving Credit Loans not already subject to a LIBOR Option and, which, as of the date of the LIBOR Request specifying such LIBOR Revolving Credit Portion, has met the conditions for basing interest on the LIBOR Rate in Section 2.3 of the Agreement and the LIBOR Period of which was commenced and not terminated. LIBOR Term A Portion—that portion of the Term Loan A specified in a LIBOR Request which is not less than $1,000,000 and is an integral multiple of $100,000, which does not exceed the outstanding balance of the Term Loan A not already subject to a LIBOR Option and, which, as of the date of the LIBOR Request specifying such LIBOR Term A Portion, has met the conditions for basing interest on the LIBOR Rate in Section 2.3 of the Agreement and the LIBOR Period of which was commenced and not terminated. LIBOR Term B Portion—that portion of Term Loans B specified in a LIBOR Request which is not less than $1,000,000 and is an integral multiple of $100,000, which does not exceed the outstanding balance of the Term Loans B not already subject to a LIBOR Option and, which, as of the date of the LIBOR Request specifying such LIBOR Term B Portion, has met the conditions for basing interest on the LIBOR Rate in Section 2.3 of the Agreement and the LIBOR Period of which was commenced and not terminated.

Statutory Reserves. For purposes of this definition, the term "Base LIBOR Rate" shall mean the rate (rounded upwards, if necessary, to the next higher 1/16 of 1%) at which deposits of U.S. dollars approximately equal in principal amount to the LIBOR Portion specified in the applicable LIBOR Request are offered to Agent or Agent's affiliate by prime banks in the London interbank foreign currency deposits market at approximately 11:00 a.m., London time, 2 two Business Days prior to the commencement of such LIBOR Period, for delivery on the first day of such LIBOR Period. Each determination by Bank Agent of any LIBOR Rate shall, in the absence of manifest error, be conclusive. LIBOR Request—a notice in writing (or by telephone confirmed by telex, telecopy or other facsimile transmission on the same day as the telephone request) from Borrower, on behalf of all Borrowers, Borrowers to Agent requesting that interest on a all or any portion of the a Revolving Credit Loan, Term Loan A or Term Loans B all or any portion of a Capex Loan be based on the LIBOR Rate, specifying: (i) the first day of the LIBOR Period; (ii) the length of the LIBOR Period consistent with the definition of that term; and (iii) the dollar amount of the LIBOR Revolving Credit Portion or the LIBOR Capex Portion, LIBOR Term A Portion or LIBOR Term B Portion consistent with the definition definitions of such terms. LIBOR Revolving Credit Portion—that portion of the Revolving Credit Loans specified in a LIBOR Request (including any portion of Revolving Credit Loans which is being borrowed by Borrower concurrently with such LIBOR Request) which is not less than $1,000,000 and is an integral multiple of $100,000, which does not exceed the outstanding balance of Revolving Credit Loans not already subject to a LIBOR Option and, which, as of the date of the LIBOR Request specifying such LIBOR Revolving Credit Portion, has met the conditions for basing interest on the LIBOR Rate in Section 2.3 of the Agreement and the LIBOR Period of which was commenced and not terminated. LIBOR Term A PortionLien—that portion any interest in Property securing an obligation owed to, or a claim by, a Person other than the owner of the Term Loan A specified in a LIBOR Request which Property, whether such interest is not less than $1,000,000 based on common law, statute or contract. The term "Lien" shall also include rights of seller under conditional sales contracts or title retention agreements, reservations, exceptions, encroachments, easements, rights-of-way, covenants, conditions, restrictions, leases and is an integral multiple of $100,000, which does not exceed other title exceptions and encumbrances affecting Property. For the outstanding balance purpose of the Term Loan A not already Agreement, Borrowers shall be deemed to be the owner of any Property which it has acquired or holds subject to a LIBOR Option and, which, as conditional sale agreement or other arrangement pursuant to which title to the Property has been retained by or vested in some other Person for security purposes. Life Insurance Policies—all the policies set forth on Exhibit 7.1.26. Loan Account—the loan account established on the books of Agent pursuant to Section 3.6 of the date of the LIBOR Request specifying such LIBOR Term A Portion, has met the conditions for basing interest on the LIBOR Rate in Section 2.3 of the Agreement and the LIBOR Period of which was commenced and not terminated. LIBOR Term B Portion—that portion of Term Loans B specified in a LIBOR Request which is not less than $1,000,000 and is an integral multiple of $100,000, which does not exceed the outstanding balance of the Term Loans B not already subject to a LIBOR Option and, which, as of the date of the LIBOR Request specifying such LIBOR Term B Portion, has met the conditions for basing interest on the LIBOR Rate in Section 2.3 of the Agreement and the LIBOR Period of which was commenced and not terminatedAgreement.

Statutory Reserves. For purposes of this definition, the term "Base LIBOR Rate" shall mean the rate (rounded to the next higher 1/16 of 1%) at which deposits of U.S. dollars approximately equal in principal amount to the LIBOR Revolving Credit Portion or the LIBOR CapEx Portion specified in the applicable LIBOR Request are offered to Agent Lender by prime banks in the London interbank foreign currency deposits market at approximately 11:00 a.m., London time, 2 Business Days prior to the commencement of such LIBOR Period, for delivery on the first day of such LIBOR Period. Each determination by Bank Lender of any LIBOR Rate shall, in the absence of manifest error, be conclusive. LIBOR Request—Request - a notice in writing (or by telephone confirmed by telex, telecopy telecopy, or other facsimile transmission on the same day as the telephone request) from Borrower, on behalf of all Borrowers, Borrower to Agent Lender requesting that interest on a portion of the Revolving Credit Loan, Term Loan A or Term Loans B an CapEx Loan be based on the LIBOR Rate, specifying: (ia) the first day of the LIBOR Period; , (iib) the length of the LIBOR Period consistent with the definition of that term; , and (iiic) the dollar amount of the LIBOR Revolving Credit Portion, LIBOR Term A Portion or the LIBOR Term B CapEx Portion consistent with the definition of such terms. LIBOR Revolving Credit Portion—Portion - that portion of the Revolving Credit Loans specified in a LIBOR Request (including any portion of Revolving Credit Loans which that is being borrowed by Borrower concurrently with such LIBOR Request) which that is not less than $1,000,000 500,000 and is an integral multiple of $100,000, which that does not exceed the outstanding balance of Revolving Credit Loans not already subject to a LIBOR Option Election and, whichthat, as of the date of the LIBOR Request specifying such LIBOR Revolving Credit Portion, has met the conditions for basing interest on the LIBOR Rate in Section 2.3 of the Agreement and the LIBOR Period of which was commenced and not terminated. LIBOR Term A Portion—that portion of the Term Loan A specified in a LIBOR Request which is not less than $1,000,000 and is an integral multiple of $100,000, which does not exceed the outstanding balance of the Term Loan A not already subject to a LIBOR Option and, which, as of the date of the LIBOR Request specifying such LIBOR Term A Portion, has met the conditions for basing interest on the LIBOR Rate in Section 2.3 of the Agreement and the LIBOR Period of which was commenced and not terminated. LIBOR Term B Portion—that portion of Term Loans B specified in a LIBOR Request which is not less than $1,000,000 and is an integral multiple of $100,000, which does not exceed the outstanding balance of the Term Loans B not already subject to a LIBOR Option and, which, as of the date of the LIBOR Request specifying such LIBOR Term B Portion, has met the conditions for basing interest on the LIBOR Rate in Section 2.3 subsection 2.4 of the Agreement and the LIBOR Period of which was commenced and not terminated.

Statutory Reserves. For purposes of this definition, the term "“Base LIBOR Rate" ” shall mean the rate (rounded to the next higher 1/16 of 1%) at which deposits of U.S. dollars approximately equal in principal amount to the LIBOR Portion specified in the applicable LIBOR Request are offered to Agent by prime banks in the London interbank foreign currency deposits market at approximately 11:00 a.m., London time, 2 Business Days prior to the commencement of such LIBOR Period, for delivery on the first day of such LIBOR Period. Each determination by Bank of any LIBOR Rate shall, in the absence of manifest error, be conclusive. LIBOR Request—Request - a notice in writing (or by telephone confirmed by telex, telecopy or other facsimile transmission on the same day as the telephone request) from Borrower, on behalf of all Borrowers, to Agent requesting that interest on a portion of the Revolving Credit Loan, Term Loan A or Term Loans B be based on the LIBOR Rate, specifying: (i) the first day of the LIBOR Period; (ii) the length of the LIBOR Period consistent with the definition of that term; and (iii) the dollar amount of the LIBOR Revolving Credit Portion, LIBOR Term A Portion or LIBOR Term B Portion consistent with the definition of such terms. LIBOR Revolving Credit Portion—Portion - that portion of the Revolving Credit Loans specified in a LIBOR Request (including any portion of Revolving Credit Loans which is being borrowed by Borrower concurrently with such LIBOR Request) which is not less than $1,000,000 and is an integral multiple of $100,000, which does not exceed the outstanding balance of Revolving Credit Loans not already subject to a LIBOR Option and, which, as of the date of the LIBOR Request specifying such LIBOR Revolving Credit Portion, has met the conditions for basing interest on the LIBOR Rate in Section 2.3 of the Agreement and the LIBOR Period of which was commenced and not terminated. LIBOR Term A Portion—that portion of the Term Loan A specified in a LIBOR Request which is not less than $1,000,000 and is an integral multiple of $100,000, which does not exceed the outstanding balance of the Term Loan A not already subject to a LIBOR Option and, which, as of the date of the LIBOR Request specifying such LIBOR Term A Portion, has met the conditions for basing interest on the LIBOR Rate in Section 2.3 of the Agreement and the LIBOR Period of which was commenced and not terminated. LIBOR Term B Portion—that portion of Term Loans B specified in a LIBOR Request which is not less than $1,000,000 and is an integral multiple of $100,000, which does not exceed the outstanding balance of the Term Loans B not already subject to a LIBOR Option and, which, as of the date of the LIBOR Request specifying such LIBOR Term B Portion, has met the conditions for basing interest on the LIBOR Rate in Section 2.3 of the Agreement and the LIBOR Period of which was commenced and not terminated.

Statutory Reserves. For purposes of this definition, the term "Base LIBOR Rate" shall mean the rate (rounded to the nearest 1/8 of 1% or, if there is not nearest 1/8 of 1%, the next higher 1/16 1/8 of 1%) at which deposits of U.S. dollars approximately equal in principal amount to the LIBOR Revolving Credit Portion specified in the applicable LIBOR Request are offered to Agent Lender by prime banks in the London interbank foreign currency deposits market at approximately 11:00 a.m., London time, 2 Business Days prior to the commencement of such LIBOR Period, for delivery on the first day of such LIBOR Period. Each determination by Bank Lender of any LIBOR Rate shall, in the absence of manifest error, be conclusive. LIBOR Request—Request - a notice in writing (or by telephone confirmed by telex, telecopy telecopy, or other facsimile transmission on the same day as the telephone request) from Borrower, on behalf of all Borrowers, Borrower to Agent Lender requesting that interest on a portion of the Revolving Credit Loan, Term Loan A or Term Loans B be based on the LIBOR Rate, specifying: (ia) the first day of the LIBOR Period; , (iib) the length of the LIBOR Period consistent with the definition of that term; , and (iiic) the dollar amount of the LIBOR Revolving Credit Portion, LIBOR Term A Portion or LIBOR Term B Portion consistent with the definition of such terms. LIBOR Revolving Credit Portion—Portion - that portion of the Revolving Credit Loans specified in a LIBOR Request (including any portion of Revolving Credit Loans which that is being borrowed by Borrower concurrently with such LIBOR Request) which that is not less than $1,000,000 and is an integral multiple of $100,000, which 100,000 that does not exceed the outstanding balance of Revolving Credit Loans not already subject to a LIBOR Option Election and, whichthat, as of the date of the LIBOR Request specifying such LIBOR Revolving Credit Portion, has met the conditions for basing interest on the LIBOR Rate in Section 2.3 subsection 2.1.1(b) of the Agreement and Agreement. Lien - any interest in Property securing an obligation owed to, or a claim by, a Person other than the LIBOR Period of which was commenced and not terminated. LIBOR Term A Portion—that portion owner of the Term Loan A specified in a LIBOR Request which Property, whether such interest is not less than $1,000,000 based on common law, statute, or contract. The term "Lien" also shall include reservations, exceptions, encroachments, easements, rights-of-way, covenants, conditions, restrictions, leases, and is an integral multiple of $100,000, which does not exceed other title exceptions and encumbrances affecting Property. For the outstanding balance purpose of the Term Loan A not already Agreement, a Person shall be deemed to be the owner of any Property which it has acquired or holds subject to a LIBOR Option andconditional sale agreement or other arrangement pursuant to which title to the Property has been retained by or vested in some other Person for security purposes. Lien Subordination Agreement - that certain Subordination Agreement, whichdated on or before the Closing Date, as between Lender and Senior Notes Agent, relative to the priority of the date Liens of the LIBOR Request specifying such LIBOR Term A Portionparties thereto in and to the Eligible Real Property, has met the conditions for basing interest on the LIBOR Rate in Section 2.3 of the Agreement form and the LIBOR Period substance of which was commenced and not terminated. LIBOR Term B Portion—that portion of Term Loans B specified in a LIBOR Request which is not less than $1,000,000 and is an integral multiple of $100,000, which does not exceed the outstanding balance of the Term Loans B not already subject shall be satisfactory to a LIBOR Option and, which, as of the date of the LIBOR Request specifying such LIBOR Term B Portion, has met the conditions for basing interest on the LIBOR Rate in Section 2.3 of the Agreement and the LIBOR Period of which was commenced and not terminatedLender.