Coach 2012 Annual Report Download - page 171
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SCHEDULE 2.02
MANDATORY COST
per cent. per annum
per cent. per annum.
Where:
1. The Mandatory Cost is an addition to the interest rate to compensate Lenders for the cost of compliance with (a) the requirements of the Bank o
f
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.
2. On the first day of each Interest Period (or as soon as possible thereafter) the Administrative Agent shall calculate, as a percentage rate, a rate (the
“Associated Costs Rate”) for each Lender, in accordance with the paragraphs set out below. The Mandatory Cost will be calculated by the
Administrative Agent as a weighted average of the Lenders’ Associated Costs Rates (weighted in proportion to the percentage participation of each
Lender in the relevant Loan) and will be expressed as a percentage rate per annum.
3. The Associated Costs Rate for any Lender lending from a Facility Office in a Participating Member State will be the percentage notified by that Lender
to the Administrative Agent. This percentage will be certified by that Lender in its notice to the Administrative Agent to be its reasonable determination
of the cost (expressed as a percentage of that Lender’s participation in all Loans made from that Facility Office) of complying with the minimum reserve
re
q
uirements of the Euro
p
ean Central Bank in res
p
ect of loans made from that Facilit
y
Office.
4. The Associated Costs Rate for any Lender lending from a Facility Office in the United Kingdom will be calculated by the Administrative Agent as
follows:
(a) in relation to a Loan in Pounds Sterling:
(b) in relation to a Loan in any currency other than Pounds Sterling:
Ais the percentage of Eligible Liabilities (assuming these to be in excess of any stated minimum) which that Lender is from time to time required
to maintain as an interest free cash ratio deposit with the Bank of England to comply with cash ratio requirements.
Bis the percentage rate of interest (excluding the Applicable Rate and the Mandatory Cost and, if the Loan is an Unpaid Sum, the additional rate
of interest specified in Section 2.13(c)) payable for the relevant Interest Period on the Loan.
Cis the percentage (if any) of Eligible Liabilities which that Lender is required from time to time to maintain as interest bearing Special Deposits
with the Bank of En
g
land.