Common use of Additional Costs Clause in Contracts

Additional Costs. If any law or guideline or interpretation or application (a) subjects any Lender or Participant to any tax or changes the basis of taxation with respect to this Agreement or the Loan Notes, or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes on the overall net income or share capital of such Lender or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is located); (b) imposes, modifies, or deems applicable any reserve, special deposit or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with or for the account of, or other acquisitions of funds by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; or (d) imposes upon any Lender or Participant any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, and the result of any of the foregoing is to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) by such Lender or Participant (which determination shall be conclusive absent manifest error) to be necessary to compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10.

Appears in 1 contract

Sources: Revolving Credit Agreement

Additional Costs. If any law or guideline or interpretation or application (a) subjects Notwithstanding any conflicting provisions of this Agreement to the contrary, if any applicable law, rule or regulation not in effect as of the date hereof shall (i) subject Agent or any Lender to any tax, levy, impost, duty, charge, fee, deduction or withholding of any nature with respect to any Loan, or Letter of Credit, this Agreement, any Note, or any of the other Loan Documents or the payment by Borrower of any amounts payable to Agent or any Lender hereunder or thereunder (other than taxes charged upon or by reference to the overall net income, profits or gains of Agent or any Lender or Participant taxes charged with respect to any tax Lender's failure to comply with SECTION 2.22 hereof); or changes (ii) materially change, in the reasonable opinion of the party so affected, the basis of taxation (other than changes in tax rates applicable to taxes charged upon or by reference to the overall net income, profits or gains of Agent or any Lender or taxes charged with respect to this Agreement any Lender's failure to comply with SECTION 2.22 hereof) of payments to Agent or any Lender of the principal of or the Loan Notesinterest on any Note or any other amounts payable to Agent or any Lender under this Agreement, or payments by DART any of principal, interest, fees the other Loan Documents; or other amounts due from DART hereunder (iii) impose or under the Loan Notes (except for taxes on the overall net income increase or share capital of such Lender or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is located); (b) imposes, modifies, or deems render applicable any reserve, special or supplementary special deposit or reserve or similar requirement requirements (whether or not having the force of law) against credits or commitments to extend credit extended assets held by, assets (funded or contingent) of, deposits with in or for the account of, or other acquisitions of funds by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) eligible liabilities of, or credits loans by any office or commitments to extend credit extended bybranch of, Agent or any Lender; or (iv) impose on Agent or any Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; or (d) imposes upon any Lender or Participant any other condition or expense requirement with respect to this Agreement, or the Loan Notesany Note, or its making, maintenance or funding any of any loan or the other credit or any commitment or security thereforLoan Documents, and if the result of any of the foregoing is (A) to increase directly or indirectly the cost toto Agent or any Lender of making, funding or maintaining all or any part of the principal of the Loans or of issuing, maintaining or making draws or disbursements under the Letters of Credit, or (B) to reduce the income receivable byamount of principal, interest or impose any expense (including loss of margin) upon other sum payable by Borrower to Agent or any Lender or Participant with respect to under this Agreement, any Note, or any of the other Loan Documents, or (C) to require Agent or any Lender to make any payment or to forego any interest or other sum payable by Borrower to Agent or any Lender under this Agreement, any Note, or any of the other Loan Documents, the amount of which payment or foregone interest or other sum is measured by or calculated by reference to the gross amount of any sum receivable or deemed received by Agent or any Lender from Borrower under this Agreement, any Note, or any of the other Loans Documents, then, and in each such case, Borrower will pay to Agent for Agent or the account of a Lender, as the case may be, within sixty (60) days of written notice by Agent or such Lender, such additional amounts as will (in the reasonable opinion of Agent or such Lender, as the case may be) be sufficient to compensate Agent or such Lender for such sum. (b) If any present or future applicable law, rule or regulation shall make it unlawful for Borrower to perform any one or more of its agreements or Obligations under this Agreement, any Note, or any of the other Loan Documents, then the obligations of Lenders under their respective Commitment shall terminate immediately. If any present or future applicable law, rule or regulation shall make it unlawful for Borrower to perform any one or more of its agreements or obligations under this Agreement, any Note, or any of the other Loan Documents, and Agent, or any Lender shall at any time determine (which reasonable determination shall be conclusive and binding on Borrower) (i) that, as a consequence of the effect or operation (whether direct or indirect) of any such applicable law, rule or regulation, any one or more of the rights, remedies, powers or privileges of Agent or any Lender under or in respect of this Agreement, any Note, or any of the other Loan Documents shall be or become invalid, unenforceable, or materially restricted; and (ii) that all or any one or more of the rights, remedies, powers and privileges so affected are of material importance to Agent or any Lender (as determined by the party so affected), then Agent shall, at the direction of the Required Lenders, by giving notice to Borrower, declare all of the Obligations, including, without limitation, the entire unpaid principal of the Notes, all of the unpaid interest accrued thereon and any and all other sums due and payable by Borrower to Agent or Lenders under this Agreement, any Note, and any of the makingother Loan Documents, maintenance to be immediately due and payable, and, thereupon, such Obligations shall (if not already due and payable) forthwith become and be due and payable without further notice or funding other formalities of any loan kind, all of which are hereby expressly waived. (orc) If Agent or any Lender shall reasonably determine that any law, rule or regulation not in effect as of the date hereof regarding capital adequacy, or in the case event of any change in any existing such law, rule or regulation or in the interpretation or administration thereof by any governmental authority, central bank or comparable agency charged with the interpretation or administration thereof or compliance by any Lender with any request or directive regarding capital adequacy (whether or similar requirementnot having the force of law) from any such authority, to central bank or comparable agency, has or would have the effect of reducing the rate of return on such Lender’s or Participant’s 's capital, as a consequence of its obligations hereunder, to a level below that which such Lender could have achieved but for such adoption, change or compliance (taking into consideration such Lender’s or Participant’s 's policies with respect to capital adequacy) by an any amount which deemed by such Lender or Participant deems to be material to itmaterial, then Borrower shall pay to such Lender within sixty (60) days of written notice by such Lender such amount or Participant shall from time amounts, in addition to time cause the Administrative Agent to notify DART amounts payable under the provisions of this Agreement or any other Loan Document, as will compensate such Lender for such reduction. Determinations by any Lender of the additional amount determined or amounts required to compensate such Lender in respect of the foregoing shall be presumptively correct absent manifest error. In determining such amount or amounts, each Lender may use in good faith (using any reasonable averaging and attribution methodsmethods of general application. (d) Each Lender agrees, that upon the occurrence of any event giving rise to the operation of SECTION 2.12, or (a)-(c) of this SECTION 2.15 with respect to such Lender, it will, to the extent permitted by Applicable Law or by the relevant governmental authority, in consultation with Agent, for a period of thirty (30) days endeavor in good faith to avoid or minimize the increase in costs or reduction in payments resulting from such event (including, but not limited to, endeavoring to change its Lending Installation); provided, however, that such avoidance or minimization can be made in such a manner that such Lender, in its sole determination, suffers no economic, legal or regulatory disadvantage. If any Lender (an "Affected Lender") shall make a demand for payment under any of such Sections, and Borrower shall find a Lender or Participant (an assignee which determination shall be conclusive absent manifest error) offers in writing to be necessary purchase the Commitments and Advances of such Affected Lender without recourse at par on a specified date, together with accrued and unpaid interest and commitment fees thereon to compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of purchase, and tenders the Administrative Agent’s notice. A certificate purchase price of such Commitments and Advances on such specified date, and if, in the reasonable opinion of such Affected Lender, its acceptance of such offer would be permitted under Applicable Law and all relevant governmental authorities and would not result in its suffering any economic, legal, or other regulatory disadvantage, then Borrower shall be excused from the payment of the increased costs claimed by such Affected Lender under any of such sections accruing after the first interest payment date pursuant to SECTION 2.19 for each Advance of such Affected Lender following such specified date, if the Affected Lender demanding payment under either such SECTION declines such purchase offer. If such Affected Lender accepts such purchase offer, upon consummation of such purchase offer such Affected Lender shall cease to be a party hereto. Except as provided in the immediately preceding sentence, nothing in this SECTION 2.15(d) shall affect or Participant postpone the obligations of Borrower to make payments as provided hereunder: Any reasonable expenses incurred by such Affected Lender under this SECTION 2.15 (d) shall be paid by Borrower upon delivery by such Affected Lender to Borrower of a certificate as to the amount due and payable under this Section from time to time and the method of calculating such amount expenses, which certificate shall be conclusive absent and binding, in absence of manifest error error. (e) For purposes of this SECTION 2.15, "laws, rules and regulations not in effect on the date hereof" or similar words shall be provided deemed to DART along with the notice described above. The rights include future interpretations of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10existing laws, rules and regulations.

Appears in 1 contract

Sources: Credit Agreement (Duriron Co Inc)

Additional Costs. (A) If the adoption of, or any law change in, ---------------- any Requirement of Law or guideline or in the interpretation or applicationapplication thereof or compliance by any Lender with any request or directive (whether or not having the force of law) from any central bank or other Governmental Authority or the NAIC made subsequent to the date hereof: (aI) subjects shall subject any Lender or Participant to any tax of any kind whatsoever with respect to this Agreement, any Note, any Letter of Credit or changes any Lender's participation therein, any Letter of Credit Document or any LIBOR Loan made by it or change the basis of taxation with of payments to such Lender in respect to this Agreement or the Loan Notes, or payments thereof by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes any Governmental Authority (except for taxes covered by Section 5.06 and changes in the rate of tax on the overall net income or share capital of such Lender or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is locatedany Governmental Authority); (bII) imposesshall impose, modifies, modify or deems hold applicable any reserve, special deposit deposit, compulsory loan or similar requirement against credits or commitments to extend credit extended assets held by, assets (funded deposits or contingent) of, deposits with other liabilities in or for the account of, advances, loans or other acquisitions extensions of credit by, or any other acquisition of funds by, any office of such Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) which is not otherwise applicable to included in the obligations determination of any Lender or Participant under this Agreementthe LIBOR Rate hereunder; or (dIII) imposes upon any shall impose on such Lender or Participant any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, condition; and the result of any of the foregoing is to increase directly or indirectly the cost toto such Lender, by an amount which such Lender deems to be material, of making, converting into, continuing or maintaining LIBOR Loans or issuing or participating in Letters of Credit or to reduce any amount receivable hereunder in respect thereof then, in any such case, Borrower shall promptly pay such Lender, upon its demand, any additional amounts necessary to compensate such Lender for such increased cost or reduced amount receivable. If any Lender becomes entitled to claim any additional amounts pursuant to this subsection, it shall promptly notify Borrower, through the income receivable byAdministrative Agent, of the event by reason of which it has become so entitled. A certificate as to any additional amounts setting forth the calculation of such additional amounts pursuant to this Section 5.01 submitted by such Lender, through the Administrative Agent, to Borrower shall be conclusive in the absence of clearly demonstrable error. This covenant shall survive the termination of this Agreement and the payment of the Notes and all other amounts payable hereunder. (B) In the event that any Lender shall have determined that the adoption after the date hereof of any law, rule, regulation or impose guideline regarding capital adequacy (or any expense (including loss of marginchange after the date hereof therein or in the interpretation or application thereof) upon or compliance by any Lender or Participant any corporation controlling such Lender with respect to this Agreementany request or directive after the date hereof regarding capital adequacy (whether or not having the force of law) from any central bank or Governmental Authority or the NAIC, including, without limitation, the Loan Notes, or the making, maintenance or funding issuance of any loan (orfinal rule, in the case of any capital adequacy regulation or similar requirementguideline, to does or shall have the effect of reducing the rate of return on such Lender’s 's or Participant’s capitalsuch corporation's capital as a consequence of its obligations hereunder or under any Letter of Credit to a level below that which such Lender or such corporation could have achieved but for such adoption, change or compliance (taking into consideration such Lender’s 's or Participant’s such corporation's policies with respect to capital adequacy) by an amount which deemed by such Lender or Participant deems to be material to itmaterial, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) time, after submission by such Lender or Participant to Borrower (which determination shall be conclusive absent manifest error) with a copy to be necessary to compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by a prompt written request therefor, Borrower shall promptly pay to such Lender such additional amount or Participant amounts as to the amount due and payable under this Section from time to time and the method of calculating will compensate such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10Lender for such reduction.

Appears in 1 contract

Sources: Credit Agreement (Tmil Corp)

Additional Costs. If any law or guideline or interpretation or application (a) subjects Notwithstanding any conflicting provisions of this Agreement to the contrary, if any applicable law, rule or regulation not in effect as of the date hereof shall (i) subject Agent or any Lender to any tax, levy, impost, duty, charge, fee, deduction or withholding of any nature with respect to any Loan, this Agreement, any Note, or any of the other Loan Documents or the payment by Borrowers of any amounts payable to Agent or any Lender hereunder or thereunder (other than taxes charged upon or by reference to the overall net income, profits or gains of Agent or any Lender or Participant taxes charged with respect to any tax Lender's failure to comply with Section 2.21 hereof); or changes (ii) materially change, in the reasonable opinion of the party so affected, the basis of taxation (other than changes in tax rates applicable to taxes charged upon or by reference to the overall net income, profits or gains of Agent or any Lender or taxes charged with respect to this Agreement any Lender's failure to comply with Section 2.21 hereof) of payments to Agent or any Lender of the principal of or the Loan Notesinterest on any Note or any other amounts payable to Agent or any Lender under this Agreement, or payments by DART any of principal, interest, fees the other Loan Documents; or other amounts due from DART hereunder (iii) impose or under the Loan Notes (except for taxes on the overall net income increase or share capital of such Lender or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is located); (b) imposes, modifies, or deems render applicable any reserve, special or supplementary special deposit or reserve or similar requirement requirements (whether or not having the force of law) against credits or commitments to extend credit extended assets held by, assets (funded or contingent) of, deposits with in or for the account of, or other acquisitions of funds by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) eligible liabilities of, or credits loans by any office or commitments to extend credit extended bybranch of, Agent or any Lender; or (iv) impose on Agent or any Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; or (d) imposes upon any Lender or Participant any other condition or expense requirement with respect to this Agreement, or the Loan Notesany Note, or its making, maintenance or funding any of any loan or the other credit or any commitment or security thereforLoan Documents, and if the result of any of the foregoing is (A) to increase directly or indirectly the cost toto Agent or any Lender of making, funding or maintaining all or any part of the principal of the Loans, or (B) to reduce the income receivable byamount of principal, interest or impose any expense (including loss of margin) upon other sum payable by Borrowers to Agent or any Lender or Participant with respect to under this Agreement, any Note, or any of the other Loan Documents, or (C) to require Agent or any Lender to make any payment or to forego any interest or other sum payable by Borrowers to Agent or any Lender under this Agreement, any Note, or any of the other Loan 32 Documents, the amount of which payment or foregone interest or other sum is measured by or calculated by reference to the gross amount of any sum receivable or deemed received by Agent or any Lender from Borrowers under this Agreement, any Note, or any of the other Loans Documents, then, and in each such case, Borrowers will pay to Agent for Agent or the account of a Lender, as the case may be, within sixty (60) days of written notice by Agent or such Lender, such additional amounts as will (in the reasonable opinion of Agent or such Lender, as the case may be) be sufficient to compensate Agent or such Lender for such sum. (b) If any present or future applicable law, rule or regulation shall make it unlawful for any Borrowers to perform any one or more of its agreements or Obligations under this Agreement, any Note, or any of the other Loan Documents, then the obligations of Lenders under their respective Commitment shall terminate immediately. If any present or future applicable law, rule or regulation shall make it unlawful for any Borrowers to perform any one or more of its agreements or obligations under this Agreement, any Note, or any of the other Loan Documents, and Agent, or any Lender shall at any time determine (which reasonable determination shall be conclusive and binding on Borrowers) (i) that, as a consequence of the effect or operation (whether direct or indirect) of any such applicable law, rule or regulation, any one or more of the rights, remedies, powers or privileges of Agent or any Lender under or in respect of this Agreement, any Note, or any of the other Loan Documents shall be or become invalid, unenforceable, or materially restricted; and (ii) that all or any one or more of the rights, remedies, powers and privileges so affected are of material importance to Agent or any Lender (as determined by the party so affected), then Agent shall, at the direction of the Required Banks, by giving notice to Borrowers, declare all of the Obligations, including, without limitation, the entire unpaid principal of the Notes, all of the unpaid interest accrued thereon and any and all other sums due and payable by Borrowers to Agent or Lenders under this Agreement, any Note, and any of the makingother Loan Documents, maintenance to be immediately due and payable, and, thereupon, such Obligations shall (if not already due and payable) forthwith become and be due and payable without further notice or funding other formalities of any loan kind, all of which are hereby expressly waived. (orc) If Agent or any Lender shall reasonably determine that any law, rule or regulation not in effect as of the date hereof regarding capital adequacy, or in the case event of any change in any existing such law, rule or regulation or in the interpretation or administration thereof by any governmental authority, central bank or comparable agency charged with the interpretation or administration thereof or compliance by any Lender with any request or directive regarding capital adequacy (whether or similar requirementnot having the force of law) from any such authority, to central bank or comparable agency, has or would have the effect of reducing the rate of return on such Lender’s or Participant’s 's capital, as a consequence of its obligations hereunder, to a level below that which such Lender could have 33 achieved but for such adoption, change or compliance (taking into consideration such Lender’s or Participant’s 's policies with respect to capital adequacy) by an any amount which deemed by such Lender or Participant deems to be material to itmaterial, then Borrowers shall pay to such Lender within sixty (60) days of written notice by such Lender such amount or Participant shall from time amounts, in addition to time cause the Administrative Agent to notify DART amounts payable under the provisions of this Agreement or any other Loan Document, as will compensate such Lender for such reduction. Determinations by any Lender of the additional amount determined or amounts required to compensate such Lender in respect of the foregoing shall be presumptively correct absent manifest error. In determining such amount or amounts, each Lender may use in good faith (using any reasonable averaging and attribution methodsmethods of general application. (d) Each Lender agrees, that upon the occurrence of any event giving rise to the operation of Section 2.11, or (a)-(c) of this Section 2.14 with respect to such Lender, it will, to the extent permitted by Applicable Law or by the relevant governmental authority, in consultation with the Agent, for a period of thirty (30) days endeavor in good faith to avoid or minimize the increase in costs or reduction in payments resulting from such event (including, but not limited to, endeavoring to change its Lending Installation); providing, however, that such avoidance or minimization can be made in such a manner that such Lender, in its sole determination, suffers no economic, legal or regulatory disadvantage. If any Lender (an "Affected Lender") shall make a demand for payment under any of such Sections, and Borrowers shall find a Lender or Participant (an assignee which determination shall be conclusive absent manifest error) offers in writing to be necessary purchase the Commitments and Advances of such Affected Lender without recourse at par on a specified date, together with accrued and unpaid interest and commitment fees thereon to compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of purchase, and tenders the Administrative Agent’s notice. A certificate purchase price of such Commitments and Advances on such specified date, and if, in the reasonable opinion of such Affected Lender, its acceptance of such offer would be permitted under Applicable Law and all relevant governmental authorities and would not result in its suffering any economic, legal, or other regulatory disadvantage, then Borrowers shall be excused from the payment of the increased costs claimed by such Affected Lender under any of such Sections accruing after the first interest payment date pursuant to Section 2.18 for each Advance of such Affected Lender following such specified date, if the Affected Lender demanding payment under either such Section declines such purchase offer. If such Affected Lender accepts such purchase offer, upon consummation of such purchase offer such Affected Lender shall cease to be a party hereto. Except as provided in the immediately preceding sentence, nothing in this Section 2.14(d) shall affect or Participant postpone the obligations of Borrowers to make payments as provided hereunder. Any reasonable expenses incurred by such Affected Lender under this Section 2.14(d) shall be paid by the Borrowers upon delivery by such Affected Lender to Borrowers of a certificate as to the amount due and payable under this Section from time to time and the method of calculating such amount expenses, which certificate shall be conclusive absent and binding, in absence of manifest error error. 34 (e) For purposes of this Section 2.14, "laws, rules and regulations not in effect on the date hereof" or similar words shall be provided deemed to DART along with the notice described above. The rights include future interpretations of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10existing laws, rules and regulations.

Appears in 1 contract

Sources: Credit Agreement (Pioneer Standard Electronics Inc)

Additional Costs. If ▇▇▇▇▇▇▇▇ agrees to pay to Bank all Additional Costs ---------------- within ten (10) days of receipt by Borrower from Bank of a statement setting forth the amount or amounts due and the basis for the determination from time to time of such amount or amounts, which statement shall be conclusive and binding upon Borrower absent manifest error. Failure on the part of Bank to demand compensation for any law Additional Costs in any Interest Period shall not constitute a waiver of Bank's right to demand compensation for any Additional Costs incurred during any such Interest Period or guideline in any other subsequent or prior Interest Period. The term "Additional Costs" shall mean such additional ---------------- amount or amounts as Bank shall reasonably determine will compensate Bank for actual costs incurred by Bank in maintaining LIBOR Rates AMENDED AND RESTATED TERM NOTE (AMX Corporation) Page 6 ------------------------------------------------ 3003124v3 on the LIBOR Balances or any portion thereof as a result of any change, after the date of this Amended Note, in applicable law, rule or regulation or in the interpretation or application administration thereof by, or the compliance by Bank with any request or directive from, any domestic or foreign governmental authority charged with the interpretation or administration thereof (awhether or not having the force of law) subjects or by any Lender domestic or Participant to any tax or changes foreign court changing the basis of taxation with respect of payments to Bank of the LIBOR Balances or interest on the LIBOR Balances or any portion thereof at an Adjusted LIBOR Rate or any other fees or amounts payable under this Agreement Amended Note or the Loan Notes, Agreement (other than taxes imposed on all or payments by DART any portion of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes on the overall net income or share capital of such Lender or Participant imposed Bank by the jurisdiction in which State of Texas or the Lender’s or Participant’s principal office is locatedFederal government); (b) imposes, modifies, or deems applicable imposing, modifying or applying any reserve, special deposit or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with or for the account of, or other acquisitions of funds by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, or any Lender or Participantother acquisition of funds for loans by Bank, or (ii) otherwise applicable to imposing on Bank, as the obligations of any Lender case may be, or Participant under this Agreement; or (d) imposes upon any Lender or Participant on the London interbank market any other condition affecting this Amended Note, the Loan Agreement or expense the LIBOR Balances so as to increase the cost of Bank making or maintaining Adjustable LIBOR Rates with respect to the LIBOR Balances or any portion thereof or to reduce the amount of any sum received or receivable by Bank under this Agreement, Amended Note or the Loan NotesAgreement (whether of principal, interest or its makingotherwise), maintenance or funding of any loan or other credit or any commitment or security therefor, and the result of any of the foregoing is to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined deemed by Bank in good faith (using any reasonable averaging and attribution methods) by such Lender or Participant (which determination shall be conclusive absent manifest error) to be necessary to compensate such Lender or Participant material, but without duplication for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10Reserve Requirement.

Appears in 1 contract

Sources: Term Note (Amx Corp /Tx/)

Additional Costs. If any law or guideline or interpretation or application (a) subjects Subject to the limitations set forth in paragraph (c) below, the Borrower shall pay directly to each Loan Participant from time to time such amounts as such Loan Participant may determine to be necessary to compensate such Loan Participant on an After-Tax Basis for any Lender costs that such Loan Participant determines are attributable to its making or maintaining of any Loans or its obligation to make any Loans hereunder, or any reduction in any amount receivable by such Loan Participant to hereunder in respect of any tax of such Loans or such obligation (such increases in costs and reductions in amounts receivable (including any covered by clause (b) below) being herein called “Additional Costs”), resulting from any Regulatory Change that: (i) changes the basis of taxation with respect of any amounts payable to such Loan Participant under this Agreement or its Notes in respect of any of such Loans (other than (and excluded from Borrower’s responsibility) (A) a change in the Loan Notes, taxation of the gross or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes on the overall net income or share capital of such Lender or Participant imposed by the jurisdiction Loan Participant, (B) a change in which the Lender’s or Participant’s principal office is located); taxation that results in Indemnified Taxes and (C) a change in taxation that results in Taxes described in clauses (b) imposes, modifies, through (e) of the definition of Excluded Taxes); or (ii) imposes or deems applicable modifies any reserve, special deposit or similar requirement against credits requirements relating to any extensions of credit or commitments to extend credit extended by, other assets (funded or contingent) of, or any deposits with or for the account other liabilities of, or other acquisitions of funds by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or such Loan Participant, or any commitment of such Loan Participant (ii) otherwise applicable to including, without limitation, the obligations Credit Commitments of any Lender or such Loan Participant under this Agreementhereunder); or (diii) imposes upon any Lender or Participant any other condition or expense with respect to affecting this Agreement, or the Loan Notes, Agreement or its making, maintenance Notes (or funding any of any loan or other such extensions of credit or any commitment liabilities) or security therefor, and its Credit Commitments. (b) Without limiting the result of any effect of the foregoing is provisions of this Section 5.01 (but without duplication) and subject to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense limitations in paragraph (including loss of marginc) upon any Lender or Participant with respect to this Agreementbelow, the Borrower shall pay directly to each Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) by on request such Lender or amounts as such Loan Participant (which determination shall be conclusive absent manifest error) may determine to be necessary to compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Loan Participant (as directed by or, without duplication, the Administrative Agentbank holding company of which such Loan Participant is a subsidiary) within 10 Business Days from for any increase in its costs that it determines are attributable to the date of the Administrative Agent’s notice. A certificate maintenance by such Lender Loan Participant (or Participant as to the amount due and payable under this Section from time to time and the method of calculating any Applicable Lending Office or such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10.bank holding company), pursuant to

Appears in 1 contract

Sources: Credit Agreement (Allegiant Travel CO)

Additional Costs. If any law or guideline or interpretation or application (a) subjects If the adoption of, or any change in, in each case after the date hereof any Requirement of Law or in the interpretation or application thereof or compliance by any Lender with any request or directive (whether or not having the force of law) from any central bank or other Governmental Authority or the NAIC made subsequent to the date hereof: (i) shall subject any Lender or Participant Issuing Lender to any tax of any kind whatsoever with respect to this Agreement, any Note, any Letter of Credit or changes any Lender's participation therein, any Letter of Credit Document or any LIBOR Loan made by it or change the basis of taxation with of payments to such Lender in respect to this Agreement or the Loan Notes, or payments thereof by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes any Governmental Authority (except for taxes covered by or expressly excluded from coverage by Section 5.06 and changes in the rate of tax on the overall net income or share capital of such Lender or Participant imposed its Applicable Lending Office, or any affiliate thereof or franchise tax by the jurisdiction in which the Lender’s or Participant’s principal office is locatedany Governmental Authority); (bii) imposesshall impose, modifies, modify or deems hold applicable any reserve, special deposit deposit, compulsory loan or similar requirement against credits or commitments to extend credit extended assets held by, assets (funded deposits or contingent) of, deposits with other liabilities in or for the account of, advances, loans or other acquisitions extensions of credit by, or any other acquisition of funds by, any office of such Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Issuing Lender or Participant, or (ii) which is not otherwise applicable to included in the obligations determination of any Lender or Participant under this Agreementthe LIBOR Rate hereunder; or (diii) imposes upon any shall impose on such Lender or Participant Issuing Lender any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, (excluding taxes); and the result of any of the foregoing is to increase directly or indirectly the cost toto such Lender or Issuing Lender, by an amount which such Lender or Issuing Lender deems to be material, of making, converting into, continuing or maintaining LIBOR Loans or issuing or participating in Letters of Credit or to reduce the income any amount receivable byhereunder in respect thereof then, in any such case, Borrower shall promptly pay such Lender or impose Issuing Lender, upon its written demand, any expense (including loss of margin) upon additional amounts necessary to compensate such Lender or Issuing Lender for such increased cost or reduced amount receivable. If any Lender or Participant with respect Issuing Lender becomes entitled to claim any additional amounts pursuant to this Agreementsubsection, it shall promptly notify Borrower, through Administrative Agent, of the event by reason of which it has become so entitled. A certificate as to any additional amounts setting forth the calculation of such additional amounts pursuant to this Section 5.01 submitted by such Lender or Issuing Lender, through Administrative Agent, to Borrower shall be conclusive in the absence of clearly demonstrable error. Without limiting the survival of any other covenant hereunder, but subject to Section 5.01(c), this Section 5.01 shall survive the termination of this Agreement and the payment of the Notes and all other amounts payable hereunder. (b) In the event that any Lender or Issuing Lender shall have determined that the adoption after the date hereof of any law, rule, regulation or guideline regarding capital adequacy (or any change after the date hereof therein or in the interpretation or application thereof) or compliance by any Lender or Issuing Lender or any corporation controlling such Lender or Issuing Lender with any request or directive regarding capital adequacy (whether or not having the force of law) from any central bank or Governmental Authority or the NAIC, in each case, made subsequent to the date hereof including, without limitation, the Loan Notes, or issuance after the making, maintenance or funding date hereof of any loan (orfinal rule, in the case of any capital adequacy regulation or similar requirementguideline, to does or shall have the effect of reducing the rate of return on such Lender’s 's or Participant’s capitalIssuing Lender's or such corporation's capital as a consequence of its obligations hereunder or under any Letter of Credit to a level below that which such Lender or Issuing Lender or such corporation could have achieved but for such adoption, change or compliance (taking into consideration such Lender’s 's or Participant’s Issuing Lender's or such corporation's policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) deemed by such Lender or Participant (which determination shall be conclusive absent manifest error) Issuing Lender to be necessary material, then from time to time, after submission by such Lender or Issuing Lender to Borrower (with a copy to Administrative Agent) of a written request therefor, Borrower shall promptly pay to such Lender or Issuing Lender such additional amount or amounts as will compensate such Lender or Participant Issuing Lender for such increasereduction. (c) Each Lender (and Issuing Lender) shall notify Borrower of any event that will entitle such Lender (or Issuing Lender, reduction as the case may be) to compensation under paragraph (a) or disposition. Such (b) of this Section 5.01 as promptly as practicable, but in any event within 90 days after such Lender (or Issuing Lender, as the case may be) obtains actual knowledge thereof; provided, however, that (i) if any Lender (or Issuing Lender, as the case may be) fails to give such notice within 90 days after it obtains actual knowledge of such an event, such Lender (or Issuing Lender, as the case may be) shall, with respect to compensation payable pursuant to this Section 5.01 in respect of any costs resulting from such event, only be entitled to payment under this Section 5.01 for costs incurred from and after the date 90 days prior to the date that such Lender (or Issuing Lender, as the case may be) does give such notice and (ii) each Lender (or Issuing Lender, as the case may be), will designate a different Applicable Lending Office for the Loans of such Lender (or the Letters of Credit, as the case may be) affected by such event if such designation will avoid the need for, or reduce the amount shall of, such compensation and will not, in the sole opinion of such Lender (or Issuing Lender, as the case may be), be due and payable by DART disadvantageous to such Lender (or Participant Issuing Lender, as the case may be). Each Lender (or Issuing Lender, as directed by the Administrative Agentcase may be) within 10 Business Days from will furnish to the date Company at the time of request for compensation under paragraph (a) or (b) of this Section 5.01 a certificate setting forth the Administrative Agent’s notice. A certificate basis, amount and reasonable detail of computation of each request by such Lender for compensation under paragraph (a) or Participant as to the amount due and payable under (b) of this Section from time to time 5.01, which certificate shall, except for demonstrable error, be final, conclusive and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10binding for all purposes.

Appears in 1 contract

Sources: Credit Agreement (Pricellular Corp)

Additional Costs. If (a) In the event that any law or regulation or guideline or interpretation (whether now in effect or application (ahereafter adopted) subjects thereof by any court or administrative or governmental authority charged with the administration thereof, or compliance by any Lender with any request or Participant to directive (whether or not having the force of law) of any tax such authority or changes any Regulatory Change shall (i) change the basis of taxation with respect of any amounts payable to such Lender under this Agreement or the Loan Notes, or payments by DART Notes in respect of principal, interest, fees or any Loans (other amounts due from DART hereunder or under the Loan Notes (except for than taxes imposed on the overall net income or share capital of such Lender for any such Loans by the United States or Participant imposed by the jurisdiction in which the Lender’s such Lender has its principal office); (ii) impose or Participant’s principal office is located); (b) imposes, modifies, or deems applicable modify any reserve, Federal Deposit Insurance Corporation premium or assessment, special deposit or similar requirements relating to any extensions of credit or other assets of, or any deposits with or other liabilities of, such Lender; (iii) impose, modify or deem applicable or result in the application of, any reserve, special deposit, capital maintenance, capital ratio or similar requirement against credits loan commitments made by any Lender or against any other extensions of credit (other than direct loans) or commitments to extend credit extended byor other assets of or any deposits or other liabilities taken or entered into by any Lender; or (iv) impose. any other conditions affecting this Agreement or the Notes in respect of the Loans (or any of such extensions of credit, assets (funded or contingent) ofassets, deposits with or for the account of, or other acquisitions of funds by, any Lender or Participant; (cliabilities) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; or (d) imposes upon any Lender or Participant any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, and the result of any of the foregoing is event referred to in clause (i), (ii), (iii) or (iv) above shall be to increase directly such Lender's costs of making or indirectly the cost to, reduce the income receivable bymaintaining any Loans or its Commitment, or to reduce any amount receivable by such Lender hereunder in respect of any Loans or its Commitment or to impose any expense (including loss of margin) upon any Lender or Participant increase any capital requirement applicable as a result of the making or maintenance of such Lender's Commitment or the obligation of the Borrower hereunder with respect to this Agreement, such Commitment or to reduce the Loan Notes, amounts receivable by any Lender or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of Lender's return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies equity with respect to its Commitment hereunder as a result of any change, modification or increase set forth in this Section 2.15(a) with respect to such Commitment (which increases in costs or increases in (or imposition of) capital adequacy) requirements or reductions in amounts receivable or return on equity may be determined by an amount which each Lender's reasonable allocation of the aggregate of such cost increases, capital increases or impositions or reductions in amounts receivable or return on equity resulting from such events are hereinafter referred to as "ADDITIONAL COSTS"), then, upon demand made by such Lender or Participant deems the Borrower shall pay to be material the Agent, and the Agent shall pay to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) as specified by such Lender or Participant (Lender, such other amounts which determination shall be conclusive absent manifest error) to be necessary sufficient to compensate such Lender or Participant for such increaseAdditional Costs, reduction together with interest on each such amount which is not paid within three (3) days after demand by such Lender, payable at the Post Default Rate. (b) Determinations by any Lender for purposes of this Section 2.15 of its costs of making or disposition. Such amount maintaining the Loans or on amounts receivable by it in respect of the Loans, or imposing upon or increasing capital requirements or reductions in amounts receivable or return on equity, and of the additional amounts required to compensate such Lender in respect of any Additional Costs, shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error set forth in writing in reasonable detail and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10conclusive, absent manifest error.

Appears in 1 contract

Sources: Loan Agreement (Boyle Leasing Technologies Inc)

Additional Costs. If any law or guideline or interpretation or application (a) Subject to Section 13.6, the Company shall pay to Agent, on demand for the account of each Bank from time to time such amounts as such Bank may determine to be necessary to compensate it for any costs incurred by such Bank which such Bank determines are attributable to its making or maintaining of any Eurodollar Loan or any Competitive Loan hereunder or its obligation to make any such Loan hereunder, or any reduction in any amount receivable by such Bank hereunder in respect of any of such Loans or such obligation (such increases in costs and reductions in amounts receivable being herein called "Additional Costs"), in each case resulting from any Regulatory Change which: (i) subjects any Lender such Bank (or Participant makes it apparent that such Bank is subject) to any tax (including without limitation any United States interest equalization tax), levy, impost, duty, charge or fee (collectively, "Taxes"), or any deduction or withholding for any Taxes on or from the payment due under any Eurodollar Loan or any Competitive Loan or other amounts due hereunder, other than income and franchise taxes of the jurisdiction (or any subdivision thereof) in which such Bank has an office or its Applicable Lending Office; or (ii) changes the basis of taxation with respect of any amounts payable to such Bank under this Agreement or the Loan Notes, its Notes in respect of any of such Loans (other than changes which affect taxes measured by or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes imposed on the overall net income or share capital franchise taxes of such Lender Bank or Participant imposed of its Applicable Lending Office for any of such Loans by the jurisdiction (or any subdivision thereof) in which the Lender’s such Bank has an office or Participant’s principal office is locatedsuch Applicable Lending Office);; or (biii) imposes, modifies, imposes or modifies or increases or deems applicable any reserve, special deposit or similar requirements (including, without limitation, any such requirement against credits imposed by the Board of Governors of the Federal Reserve System) relating to any extensions of credit or commitments to extend credit extended by, other assets (funded or contingent) of, or any deposits with or other liabilities of, such Bank or loans made by such Bank, or against any other funds, obligations or other property owned or held by such Bank (including any of such Loans or any deposits referred to in the definition of "Eurodollar Base Rate" in Section 1.1 hereof) and such Bank actually incurs such additional costs. Each Bank (if so requested by the Company through Agent) will designate a different available Applicable Lending Office for the account Eurodollar Loans or the Competitive Loans of such Bank or take such other action as the Company may request if such designation or action will avoid the need for, or reduce the amount of, or other acquisitions of funds by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; or (d) imposes upon any Lender or Participant any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, such compensation and the result of any of the foregoing is to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Notes, or the making, maintenance or funding of any loan (orwill not, in the case sole opinion of any capital adequacy or similar requirementsuch Bank, be disadvantageous to such Bank (provided that such Bank shall have no obligation so to designate an Applicable Lending Office for Eurodollar Loans located in the effect United States of reducing America). Each Bank will furnish the rate Company with a statement setting forth the basis and amount of return on each request by such Lender’s or Participant’s capitalBank for compensation under this Section 6.1(a); subject to Section 6.8, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such Lender or Participant deems to certificate shall be material to itconclusive, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (absent manifest error, and may be prepared using any reasonable averaging and attribution methods. (b) Without limiting the effect of the foregoing provisions of this Section 6.1, in the event that, by reason of any Regulatory Change, any Bank either (i) incurs Additional Costs based on or measured by the excess above a specified level of the amount of a category of deposits or other liabilities of such Lender Bank which includes deposits by reference to which the interest rate on Eurodollar Loans is determined as provided in this Agreement or Participant a category of extensions of credit or other assets of such Bank which includes Eurodollar Loans or Competitive Loans or (ii) becomes subject to restrictions on the amount of such a category of liabilities or assets which determination it may hold, then, if such Bank so elects by notice to the Company (with a copy to Agent), the obligation of such Bank to make Eurodollar Loans or Competitive Loans, as the case may be, hereunder shall be conclusive absent manifest error) suspended until the date such Regulatory Change ceases to be necessary to compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant in effect (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by which case the provisions of Section 8.106.4 hereof shall be applicable). (c) Good faith determinations and allocations by any Bank for purposes of this Section 6.1 of the effect of any Regulatory Change on its costs of maintaining its obligations to make Loans or of making or maintaining Loans or on amounts receivable by it in respect of Loans, and of the additional amounts required to compensate such Bank in respect of any Additional Costs, shall be conclusive, absent manifest error. (d) The Company's obligation to pay Additional Costs and compensation with regard to each Eurodollar Loan and each Competitive Loan shall survive termination of this Agreement.

Appears in 1 contract

Sources: Credit Agreement (Seagull Energy Corp)

Additional Costs. If any law or guideline or interpretation or application (a) subjects If the adoption of, or any change in, ---------------- any Requirement of Law or in the interpretation or application thereof or compliance by any Lender with any request or Participant directive (whether or not having the force of law) from any central bank or other Governmental Authority or the NAIC made subsequent to the date hereof: (i) shall subject any Lender to any tax of any kind whatsoever with respect to this Agreement, any Note or changes any LIBOR Loan made by it or change the basis of taxation with of payments to such Lender in respect to this Agreement or the Loan Notes, or payments thereof by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes any Governmental Authority (except for taxes covered by Section 5.06 and changes in the rate of tax on the overall net income or share capital of such Lender or Participant imposed its Applicable Lending Office, or any affiliate thereof or franchise tax by the jurisdiction in which the Lender’s or Participant’s principal office is locatedany Governmental Authority); (bii) imposesshall impose, modifies, modify or deems hold applicable any reserve, special deposit deposit, compulsory loan or similar requirement against credits or commitments to extend credit extended assets held by, assets (funded deposits or contingent) of, deposits with other liabilities in or for the account of, advances, loans -38- or other acquisitions extensions of credit by, or any other acquisition of funds by, any office of such Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) which is not otherwise applicable to included in the obligations determination of any Lender or Participant under this Agreementthe LIBOR Rate hereunder; or (diii) imposes upon any shall impose on such Lender or Participant any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, (excluding taxes); and the result of any of the foregoing is to increase directly or indirectly the cost toto such Lender, by an amount which such Lender deems to be material, of making, converting into, continuing or maintaining LIBOR Loans or issuing or participating in Letters of Credit or to reduce any amount receivable hereunder in respect thereof then, in any such case, Borrower shall promptly pay such Lender, upon its demand, any additional amounts necessary to compensate such Lender for such increased cost or reduced amount receivable. If any Lender becomes entitled to claim any additional amounts pursuant to this subsection, it shall promptly notify Borrower, through Administrative Agent, of the income receivable byevent by reason of which it has become so entitled. A certificate as to any additional amounts setting forth the calculation of such additional amounts pursuant to this Section 5.01 submitted by such Lender, through Administrative Agent, to Borrower shall be conclusive in the absence of clearly demonstrable error. Without limiting the survival of any other covenant hereunder, this Section 5.01 shall survive the termination of this Agreement and the payment of the Notes and all other amounts payable hereunder. (b) In the event that any Lender shall have determined that the adoption of any law, rule, regulation or impose guideline regarding capital adequacy (or any expense (including loss of marginchange therein or in the interpretation or application thereof) upon or compliance by any Lender or Participant any corporation controlling such Lender with respect any request or directive regarding capital adequacy (whether or not having the force of law) from any central bank or Governmental Authority or the NAIC, in each case, made subsequent to this Agreementthe date hereof including, without limitation, the Loan Notes, or the making, maintenance or funding issuance of any loan (orfinal rule, in the case of any capital adequacy regulation or similar requirementguideline, to does or shall have the effect of reducing the rate of return on such Lender’s Lenders or Participant’s capitalsuch corporation's capital as a consequence of its obligations hereunder to a level below that which such Lender or such corporation could have achieved but for such adoption, change or compliance (taking into consideration such Lender’s 's or Participant’s such corporation's policies with respect to capital adequacy) by an amount which deemed by such Lender or Participant deems to be material to itmaterial, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) time, after submission by such Lender to Borrower (with a copy to Administrative Agent) of a written request therefor, Borrower shall promptly pay to such Lender such additional amount or Participant (which determination shall be conclusive absent manifest error) to be necessary to amounts as will compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10reduction.

Appears in 1 contract

Sources: Senior Subordinated Credit Agreement (Princess Beverly Coal Holding Co Inc)

Additional Costs. If any law or guideline or interpretation or application (a) Subject to SECTION 12.8, the Company shall pay to the Agent, on demand, for the account of such Bank, from time to time such amounts as any Bank may reasonably determine to be necessary to compensate it for any costs incurred by such Bank which such Bank reasonably determines are attributable to its making or maintaining any Eurodollar Loan hereunder or its obligation to make or maintain any such Loan hereunder, or any reduction in any amount receivable by such Bank hereunder in respect of any of such Loans or such obligation (such increases in costs and reductions in amounts receivable being herein called "ADDITIONAL COSTS"), in each case resulting from any Regulatory Change which: (1) subjects any Lender such Bank (or Participant makes it apparent that such Bank is subject) to any tax (including any United States interest equalization tax), levy, impost, duty, charge or fee (collectively, "TAXES"), or any deduction or withholding for any Taxes on or from the payment due under any Eurodollar Loan or other amounts due hereunder, other than income and franchise taxes of the jurisdiction (or any subdivision thereof) in which such Bank has an office or its Applicable Lending Office; or (2) changes the basis of taxation with respect of any amounts payable to such Bank under this Agreement or the Loan Notesits Note in respect of any of such Loans, other than changes which affect taxes measured by or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes imposed on the overall net income or share capital franchise taxes of such Lender Bank or Participant imposed of its Applicable Lending Office for any of such Loans by the jurisdiction (or any subdivision thereof) in which the Lender’s such Bank has an office or Participant’s principal office is located);such Applicable Lending Office; or (b3) imposes, modifies, imposes or modifies or increases or deems applicable any Statutory Reserves or any other reserve, special deposit or similar requirement against credits (including any such requirement imposed by the Board) relating to any extensions of credit or commitments to extend credit extended by, other assets (funded or contingent) of, or any deposits with or for the account other liabilities of, such Bank or loans made by such Bank, or against any other funds, obligations or other acquisitions of funds by, any Lender Property owned or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreementheld by such Bank; or (d4) imposes upon any Lender or Participant any other condition affecting this Agreement (or expense any of such extensions of credit or liabilities). Each Bank will notify the Company through the Agent of any event occurring after the date of this Agreement which will entitle such Bank to compensation pursuant to this SECTION 6.1 as promptly as practicable after it obtains knowledge thereof and determines to request such compensation, and (if so requested by the Company through the Agent) will designate a different available Applicable Lending Office for the Eurodollar Loans of such Bank or take such other action as the Company may reasonably request if such designation or action is consistent with the internal policy of such Bank and legal and regulatory restrictions, can be undertaken at no additional cost, will avoid the need for, or reduce the amount of, such compensation and will not, in the sole opinion of such Bank, be disadvantageous to such Bank (PROVIDED that such Bank shall have no obligation so to designate an Applicable Lending Office located in the United States of America). Each Bank will furnish the Company with a statement setting forth the basis and amount of each request by such Bank for compensation under this SECTION 6.1, with each such statement to cover amounts accruing under this SECTION 6.1 with respect to this Agreement, or a period beginning not earlier than 120 days from the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, date thereof and the result of any of the foregoing is to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methodsmethod. (b) Without limiting the effect of the foregoing provisions of this SECTION 6.1, in the event that, by reason of any Regulatory Change, any Bank either (1) incurs Additional Costs based on or measured by the excess above a specified level of the amount of a category of deposits or other liabilities of such Lender Bank which includes deposits by reference to which the interest rate on Eurodollar Loans is determined as provided in this Agreement or Participant a category of extensions of credit or other assets of such Bank which includes Eurodollar Loans or (2) becomes subject to restrictions on the amount of such a category of liabilities or assets which determination it may hold, then, if such Bank so elects by notice to the Company (with a copy to the Agent), the obligation of such Bank to make Eurodollar Loans hereunder shall be conclusive suspended until the date such Regulatory Change ceases to be in effect (in which case the provisions of SECTION 6.4 shall be applicable). (c) Determinations and allocations by any Bank for purposes of this SECTION 6.1 of the effect of any Regulatory Change on its costs of maintaining its obligations to make Loans or of making or maintaining Eurodollar Loans or on amounts receivable by it in respect of Eurodollar Loans, and of the additional amounts required to compensate such Bank in respect of any Additional Costs, shall be conclusive, absent manifest error, and may be made using any reasonable averaging and attribution method. (d) In the event any Bank shall seek compensation pursuant to this SECTION 6.1, the Company may give notice to such Bank (with copies to the Agent) that it wishes to seek one or more Eligible Assignees (which may be one or more of the Banks) to be necessary purchase and assume the Commitment, Loans, Note, Letter of Credit Liabilities and interests in this Agreement of such Bank. Each Bank requesting compensation pursuant to compensate this SECTION 6.1 agrees to sell its Commitment, Loans, Note, Letter of Credit Liabilities and interests in this Agreement pursuant to SECTION 12.6 (without recourse, representation or warranty except as provided in SECTION 12.6) to any such Lender or Participant Eligible Assignee for an amount equal to (x) the sum of the outstanding unpaid principal of and accrued and unpaid interest on such increaseLoans, reduction or disposition. Such Note and Letter of Credit Advances, plus (y) in the case of the Issuer, Cover for the face amount shall be due of all undrawn Letter of Credit Liabilities, plus (z) all other fees and payable amounts (including any compensation claimed by DART such Bank under this SECTION 6.1 and including a breakage charge as if such Bank had been prepaid the amount of all of its outstanding Eurodollar Loans) owing to such Lender or Participant (as directed by Bank under the Administrative Agent) within 10 Business Days from Credit Documents, calculated, in each case, to the date on which such Commitment, Loans, Note, Letter of the Administrative Agent’s notice. A certificate by Credit Liabilities and interests are purchased, whereupon such Lender Bank shall have no further Commitment or Participant as other obligation to the amount due and payable Company under this Section from time Agreement or any other Credit Document in respect of matters arising after the consummation of such purchase, but shall continue to time be entitled to the benefit of, and subject to any obligations incurred by it under, this Agreement and the method other Credit Documents in respect of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with matters occurring during the notice described above. The rights of any Participant in time it was a Bank under this Section 8.01 are expressly limited by the provisions of Section 8.10Agreement.

Appears in 1 contract

Sources: Credit Agreement (Santa Fe Snyder Corp)

Additional Costs. If any law or guideline or interpretation or application (a) The Borrower shall pay directly to each Lender from time to time such amounts as such Lender may determine to be necessary to compensate such Lender for any costs that such Lender determines are attributable to its maintaining any Eurodollar Loan or any reduction in any amount receivable by such Lender hereunder in respect of any such Loan (such increases in costs and reductions in amounts receivable being herein called “Additional Costs”), resulting from any Regulatory Change that: (i) subjects any such Lender (or Participant its Applicable Lending Office) to any tax or changes the basis of taxation with respect to this Agreement or the Loan Notes, or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes on the overall net income or share capital of such Lender or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is located);Taxes; or (bii) imposes, modifies, imposes or deems applicable modifies any reserve, special deposit or similar requirement against credits or commitments to extend credit extended by, assets requirements (funded or contingent) of, deposits with or for the account of, or other acquisitions of funds by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; or (d) imposes upon any Lender or Participant any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, and the result of any of the foregoing is to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Notes, or the making, maintenance or funding of any loan (orthan, in the case of any Lender for any period as to which the Borrower is required to pay any amount under Section 5.01(d) hereof, the reserves against “Eurocurrency liabilities” under Regulation D referred to therein) relating to any extensions of credit or other assets of, or any deposits with or other liabilities of, such Lender (including, without limitation, its Loan or any deposits referred to in the definition of “Eurodollar Rate” in Section 1.01 hereof), or the Commitment of such Lender); or (iii) imposes any other condition affecting this Agreement or its Loan or Note (if any) or its Commitment. (b) Without limiting the effect of the foregoing provisions of this Section 5.01 (but without duplication), if any Lender shall have determined that any law or regulation or any interpretation, directive or request (whether or not having the force of law and whether or not failure to comply therewith would be unlawful) of any court or governmental or monetary authority, (i) following any Regulatory Change or (ii) implementing any risk-based capital adequacy guideline or similar requirementother requirement (whether or not having the force of law and whether or not the failure to comply therewith would be unlawful) hereafter issued by any government or governmental or supervisory authority implementing at the national level any change in the Basle Accord, to has or would have the effect of reducing the rate of return on assets or equity of such Lender (or any Applicable Lending Office of such Lender or any bank holding company of which such Lender is a subsidiary) as a consequence of such Lender’s Commitment or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect its Loan to capital adequacy) by an amount a level below that which such Lender (or Participant deems to be material to itsuch Applicable Lending Office or such bank holding company) could have achieved but for such law, regulation, interpretation, directive or request, then the Borrower shall pay directly to such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) by on request such amounts as such Lender or Participant (which determination shall be conclusive absent manifest error) may determine to be necessary to compensate such Lender (or, without duplication, such Applicable Lending Office or Participant such bank holding company) for such increasereduction. (c) Each Lender shall notify the Borrower of any event occurring after the date hereof entitling such Lender to compensation from the Borrower under paragraph (a) or (b) of this Section 5.01 as promptly as practicable, reduction but in any event within 45 days, after such Lender obtains actual knowledge thereof; provided that (i) if any Lender fails to give such notice within 45 days after it obtains actual knowledge of such an event, such Lender shall, with respect to compensation payable by the Borrower pursuant to this Section 5.01 in respect of any costs resulting from such event, be entitled to payment under this Section 5.01 only for costs incurred from and after the date 45 days prior to the date that such Lender does give such notice and (ii) each Lender will designate a different Applicable Lending Office if such designation will avoid the need for, or dispositionreduce the amount of, such compensation and will not, in the sole opinion of such Lender, be disadvantageous to such Lender, except that such Lender shall have no obligation to designate an Applicable Lending Office located in the United States of America. Such Each Lender will furnish to the Borrower a certificate setting forth the basis and amount of each request by such Lender for compensation under paragraph (a) or (b) of this Section 5.01. Determinations and allocations by any Lender for purposes of this Section 5.01 of the effect of any Regulatory Change pursuant to paragraph (a) of this Section 5.01, or of the effect of capital maintained pursuant to paragraph (b) of this Section 5.01, on its costs or rate of return of maintaining its Loan or its obligation to make its Loan, or on amounts receivable by it in respect of its Loan, and of the amounts required to compensate such Lender under this Section 5.01, shall be due conclusive, provided that such determinations and payable by DART allocations are made on a reasonable basis. (d) Without limiting the effect of the foregoing, the Borrower shall pay to each Lender on the last day of each Interest Period so long as such Lender is maintaining reserves against “Eurocurrency liabilities” under Regulation D (or, unless the provisions of paragraph (b) above are applicable, so long as such Lender is, by reason of any Regulatory Change, maintaining reserves against any other category of liabilities that includes deposits by reference to which the interest rate on Eurodollar Loans is determined as provided in this Agreement or Participant against any category of extensions of credit or other assets of such Lender that includes any Eurodollar Loans) an additional amount (as directed determined by such Lender and notified to the Borrower through the Administrative Agent) within 10 Business Days from equal to the date product of the Administrative Agent’s notice. A certificate by following for each Eurodollar Loan for each day during such Interest Period: (i) the principal amount of such Eurodollar Loan outstanding on such day; and (ii) the remainder of (x) a fraction the numerator of which is the rate (expressed as a decimal) at which interest accrues on such Eurodollar Loan for such Interest Period as provided in this Agreement (not including the Applicable Margin) and the denominator of which is one minus the effective rate (expressed as a decimal) at which such Reserve Requirements are imposed on such Lender or Participant as on such day minus (y) such numerator; and (iii) 1/360. Notwithstanding the foregoing, this Section 5.01 does not apply to the amount due and payable under this Section from time extent that any costs referred to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 5.01 are expressly limited compensated for by the provisions of Section 8.105.06.

Appears in 1 contract

Sources: Bridge Loan Agreement (Capital One Financial Corp)

Additional Costs. Etc. If any law present or guideline future Applicable Law, which --------------------- expression, as used herein, includes statutes, rules and regulations thereunder and interpretations thereof by any competent court or by any governmental or other regulatory body or official charged with the administration or the interpretation thereof and requests, directives, instructions and notices at any time or application (a) subjects from time to time hereafter made upon or otherwise issued to the Lessor, any Lender or Participant the Agent by any central bank or other fiscal, monetary or other authority (whether or not having the force of law), shall in the case of any Funded Amount or any Commitment: (i) subject the Lessor, any Lender or the Agent to any tax tax, levy, impost, duty, charge, fee, deduction or changes withholding of any nature with respect to this Master Agreement, the other Operative Documents, such Funding Party's Commitment or the Funded Amounts (other than taxes based upon or measured by the income or profits of the Lessor, such Lender or the Agent), or (ii) materially change the basis of taxation with respect to this Agreement or the Loan Notes, or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for changes in taxes on the overall net income or share capital profits) of such payments to the Lessor or any Lender of the principal of or the interest on any Funded Amount or any other amounts payable to the Lessor, any Lender or Participant imposed by the jurisdiction in which Agent under this Master Agreement or any of the Lender’s or Participant’s principal office is located);other Operative Documents, or (biii) imposesimpose or increase or render applicable (other than to the extent specifically provided for elsewhere in this Master Agreement) any special deposit, modifiesreserve, assessment, liquidity, capital adequacy or other similar requirements (whether or not having the force of law) against assets held by, or deems applicable any reserve, special deposit or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with in or for the account of, or other acquisitions loans or letters of funds credit by, or commitments of, any office of the Lessor or any Lender, or (iv) impose on the Lessor, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; or (d) imposes upon any Lender or Participant Agent any other condition conditions or expense requirements with respect to this Master Agreement, or the Loan Notesother Operative Documents, the Funded Amounts, any such Funding Party's Commitment, or its makingany class of commitments, maintenance or funding letters of any loan or other credit or loans of which any commitment of the Funded Amounts, or security thereforsuch Funding Party's Commitment forms a part, and the result of any of the foregoing is is (1) to increase directly or indirectly the cost toto the Lessor or any Lender of making, funding, issuing, renewing, extending or maintaining any of the Funded Amounts or such Funding Party's Commitment, or (2) to reduce the income receivable byamount of principal, interest, fees, or impose any expense (including loss of margin) upon any Lender or Participant with respect other amount payable to this Agreementthe Lessor, the Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such Lender or Participant deems the Agent hereunder on account of such Funding Party's Commitment or any of the Funded Amounts, or (3) to be material to itrequire the Lessor, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of make any payment or to forego any interest, principal, Yield or other sum payable hereunder, the amount determined in good faith (using of which payment or foregone interest or Yield, principal or other sum is calculated by reference to the gross amount of any reasonable averaging and attribution methods) sum receivable or deemed received by the Lessor, such Lender or Participant the Agent from the Lessee hereunder, then, and in each such case, the Lessee will, within five (which determination shall be conclusive absent manifest error5) to be necessary to compensate days following demand made by the Lessor, such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by through the Administrative Agent) within 10 Business Days from or, as the date of case may be, the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due Agent at any time and payable under this Section from time to time and as often as the method occasion therefor may arise, pay to the Lessor or the Agent for the respective accounts of calculating the Lenders or for the Agent's own account such amount additional amounts as will be sufficient to compensate the Lessor, such Lender or the Agent for such additional cost, reduction, payment or foregone interest, principal or other sum. Each Funding Party or, as the case may be, the Agent shall be conclusive absent manifest error and shall be provided to DART along with give the Lessee prompt notice described above. The rights of any Participant in event causing such additional cost, reduction, payment or foregone interest, Yield or other sum; provided, however, that if such Funding -------- ------- Party or, as the case may be, the Agent shall fail to notify the Lessee or make demand within one hundred twenty (120) days following the occurrence of any such event, such Funding Party or, as the case may be, the Agent shall not be entitled to claim any additional amounts pursuant to this Section 8.01 are expressly limited by the provisions of Section 8.107.5(a) for any period ending on a date which is prior to one hundred -------------- twenty (120) days before such notification or demand.

Appears in 1 contract

Sources: Master Agreement (Sterling Commerce Inc)

Additional Costs. If any law or guideline or interpretation or application (a) subjects If the adoption of, or any change in, any Requirement of Law or in the interpretation or application thereof or compliance by any Lender with any request or Participant directive (whether 58 -52- or not having the force of law) from any central bank or other Governmental Authority or the NAIC made subsequent to the Original Closing Date (or, with respect to the Existing Letters of Credit, made subsequent to their date of issuance (without regard to any deemed issuance on the Original Closing Date for purposes of Section 2.03) if before the Original Closing Date. (i) shall subject any Lender to any tax of any kind whatsoever with respect to this Agreement, any Note, any Letter of Credit or changes any Lender's participation therein, any Letter of Credit Document or any LIBOR Loan made by it or change the basis of taxation with of payments to such Lender in respect to this Agreement or the Loan Notes, or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes thereof (except for taxes covered by Section 5.06 and changes in the rate of tax on the overall net income or share capital of such Lender or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is located); (bii) imposesshall impose, modifies, modify or deems hold applicable any reserve, special deposit deposit, compulsory loan or similar requirement against credits or commitments to extend credit extended assets held by, assets (funded deposits or contingent) of, deposits with other liabilities in or for the account of, advances, loans or other acquisitions extensions of credit by, or any other acquisition of funds by, any office of such Lender or Participant; (c) imposeswhich is not otherwise included in the determination of the LIBOR Rate hereunder, modifiesincluding, or deems applicable without limitation, the imposition of any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable reserves with respect to the obligations of any Lender or Participant Eurocurrency Liabilities under this AgreementRegulation D; or (diii) imposes upon any shall impose on such Lender or Participant any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, condition; and the result of any of the foregoing is to increase directly or indirectly the cost toto such Lender, by an amount which such Lender deems to be material, of making, converting into, continuing or maintaining LIBOR Loans or issuing or participating in Letters of Credit or to reduce any amount receivable hereunder in respect thereof then, in any such case, Borrower shall promptly pay such Lender, upon its demand, any additional amounts necessary to compensate such Lender for such increased cost or reduced amount receivable. If any Lender becomes entitled to claim any additional amounts pursuant to this subsection, it shall promptly notify Borrower, through the income receivable byAdministrative Agent, of the event by reason of which it has become so entitled. A certificate as to any additional amounts pursuant to this Section 5.01 submitted by such Lender, through the Administrative Agent, to Borrower shall be conclusive in the absence of clearly demonstrable error. This covenant shall survive the termination of this Agreement and the payment of the Notes all other amounts payable hereunder. (b) In the event that any Lender shall have determined that the adoption of any law, rule, regulation or impose guideline regarding capital adequacy (or any expense (including loss of marginchange therein or in the interpretation or application thereof) upon or compliance by any Lender or Participant any corporation controlling such Lender with respect to this Agreementany request or directive regarding capital adequacy (whether or not having the force of law) from any central bank or Governmental Authority, including, without limitation, the Loan Notes, or the making, maintenance or funding issuance of any loan (orfinal rule, in the case of any capital adequacy regulation or similar requirementguideline, to does or shall have the effect of reducing the rate of return on such Lender’s 's or Participant’s capitalsuch corporation's capital as a consequence of its obligations hereunder or under any Letter of Credit to a level below that which such Lender or such corporation could have achieved but for such adoption, change or compliance (taking into consideration such Lender’s 's or Participant’s such corporation's policies with respect to capital adequacy) by an amount which deemed by such Lender or Participant deems to be material to itmaterial, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) time, after submission by such Lender or Participant to Borrower (which determination shall be conclusive absent manifest error) with a copy to be necessary to compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from of a written request therefor, Borrower shall promptly pay to such Lender such additional amount or amounts as will compensate such Lender for such reduction. (c) Each Lender shall notify Borrower of any event occurring after the date of this Agreement that will entitle such Lender to compensation under paragraph (a) or (b) of this Section 5.01 as promptly as practicable, but in any event within 120 days after such Lender obtains actual knowledge thereof; provided, however, that if any Lender fails to give such notice within 120 days after it obtains actual knowledge of such an event, such Lender shall, with respect to compensation payable pursuant to this Section 5.01 in respect of any costs resulting from such event, only be entitled to payment under this Section 5.01 for costs incurred from and after the Administrative Agent’s date 120 days prior to the date that such Lender does give such notice. A Each Lender will furnish to Borrower a certificate setting forth the basis, amount and reasonable detail of computation of each request by such Lender for compensation under paragraph (a) or Participant as to the amount due and payable under (b) of this Section from time to time 5.01, which certificate shall, except for demonstrable error, be final, conclusive and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10binding for all purposes.

Appears in 1 contract

Sources: Credit Agreement (Imco Recycling Inc)

Additional Costs. If any law present or guideline future applicable law, which expression, as used herein, includes statutes, rules and regulations thereunder and interpretations thereof by any competent court or by any governmental or other regulatory body or official charged with the administration or the interpretation thereof and requests, directives, instructions and notices at any time or applicationfrom time to time hereafter made upon or otherwise issued to FPM by any central bank or other fiscal, monetary or other authority (whether or not having the force of law), shall: (a) subjects any Lender or Participant subject FPM to any tax (except for taxes on income or changes the basis profits), levy, impost, duty, charge, fee, deduction or withholding of taxation any nature with respect to this Agreement or the Loan NotesConsignment Facility, or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes on the overall net income or share capital of such Lender or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is located);or (b) imposesmaterially change the basis of taxation (except for changes in taxes on income or profits) of payments to FPM of the principal of or the interest on the Consignment Facility or any other amounts payable to FPM under this Agreement, modifiesor (c) impose or increase or render applicable (other than to the extent specifically provided for elsewhere in this Agreement) any special deposit, reserve, assessment, liquidity, capital adequacy or other similar requirements (whether or not having the force of law) against assets held by, or deems applicable any reserve, special deposit or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with in or for the account of, or other acquisitions of funds loans by, any Lender or Participant; (c) imposesFPM, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; or (d) imposes upon any Lender or Participant impose on FPM any other condition conditions or expense requirements with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit Consignment Facility or any commitment class of loans or security therefor, commitments of which any of the Consignment Facility forms a part; and the result of any of the foregoing is is (e) to increase directly or indirectly the cost toto FPM of making, funding, issuing, renewing, extending or maintaining any of the Consignment Facility, or (f) to reduce the income receivable byamount of principal, interest or impose other amount payable to FPM hereunder on account of any expense of the Consignment Facility, or (including loss of marging) upon to require FPM to make any Lender payment or Participant with respect to this Agreementforego any interest or other sum payable hereunder, the Loan Notes, amount of which payment or foregone interest or other sum is calculated by reference to the making, maintenance or funding gross amount of any loan (orsum receivable or deemed received by FPM for the Company hereunder, then, and in each such case, the case of Company will, upon demand by FPM, at any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) by such Lender or Participant (which determination shall be conclusive absent manifest error) to be necessary to compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and as often as the method of calculating occasion therefor may arise, pay to FPM such amount additional amounts as will be sufficient to compensate FPM for such additional cost, reduction, payment or foregone interest or other sum. Such amounts shall only be conclusive absent manifest error and shall be provided to DART along with the payable prospectively after written notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10from FPM.

Appears in 1 contract

Sources: Consignment Agreement (Semx Corp)

Additional Costs. If Borrower agrees to pay to Bank all Additional Costs within ten (10) days of receipt by Borrower from Bank of a statement setting forth the amount or amounts due and the basis for the determination from time to time of such amount or amounts, which statement shall be conclusive and binding upon Borrower absent manifest error. Failure on the part of Bank to demand compensation for any law Additional Costs in any Interest Period shall not constitute a waiver of Bank's right to demand compensation for any Additional Costs incurred during any such Interest Period or guideline in any other subsequent or prior Interest Period. The term "Additional Costs" shall mean such additional amount or amounts as Bank shall reasonably determine will compensate Bank for actual costs incurred by Bank in maintaining LIBOR Rates on the LIBOR Balances or any portion thereof as a result of any change, after the date of this Note, in applicable law, rule or regulation or in the interpretation or application administration thereof by, or the compliance by Bank with any request or directive from, any domestic or foreign governmental authority charged with the interpretation or administration thereof (awhether or not having the force of law) subjects or by any Lender domestic or Participant to any tax or changes foreign court changing the basis of taxation with respect of payments to Bank of the LIBOR Balances or interest on the LIBOR Balances or any portion thereof at an Adjusted LIBOR Rate or any other fees or amounts payable under this Agreement Note or the Loan Notes, Agreement (other than taxes imposed on all or payments by DART any portion of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes on the overall net income or share capital of such Lender or Participant imposed Bank by the jurisdiction in which State of Texas or the Lender’s or Participant’s principal office is locatedFederal government); (b) imposes, modifies, or deems applicable imposing, modifying or applying any reserve, special deposit or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with or for the account of, or other acquisitions of funds by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, or any Lender or Participantother acquisition of funds for loans by Bank, or (ii) otherwise applicable to imposing on Bank, as the obligations of any Lender case may be, or Participant under this Agreement; or (d) imposes upon any Lender or Participant on the London interbank market any other condition affecting this Note, the Loan Agreement or expense the LIBOR Balances so as to increase the cost of Bank making or maintaining Adjustable LIBOR Rates with respect to the LIBOR Balances or any portion thereof or to reduce the amount of any sum received or receivable by Bank under this Agreement, Note or the Loan NotesAgreement (whether of principal, interest or its makingotherwise), maintenance or funding of any loan or other credit or any commitment or security therefor, and the result of any of the foregoing is to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined deemed by Bank in good faith (using any reasonable averaging and attribution methods) by such Lender or Participant (which determination shall be conclusive absent manifest error) to be necessary to compensate such Lender or Participant material, but without duplication for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10Reserve Requirement.

Appears in 1 contract

Sources: Loan Agreement (Vertex Communications Corp /Tx/)

Additional Costs. If In the event that on or after the date hereof any law applicable law, treaty or guideline governmental regulation is adopted, or any change therein or in the interpretation or applicationapplication thereof becomes effective, or compliance by any Agent, the Issuing Bank, any Lender or any such participant with any request or directive (whether or not having the force of law) from any central bank or other financial, monetary or other authority, shall: (a) subjects any subject such Agent, the Issuing Bank, such Lender or Participant participant to any tax or changes the basis of taxation any kind whatsoever with respect to this Agreement or change the Loan Notesbasis of taxation of payments to such Agent, the Issuing Bank, such Lender or payments by DART participant of principal, interestfees, fees interest or any other amounts due from DART amount payable hereunder or under the any other Loan Notes Documents (except for taxes changes in the rate of tax on the overall net income or share capital gross receipts of such Agent, the Issuing Bank, such Lender or Participant imposed participant by the federal government or the jurisdiction in which the Lender’s or Participant’s it maintains its principal office is locatedoffice); (b) imposesimpose, modifies, modify or deems hold applicable any reserve, special deposit deposit, assessment or similar requirement against credits or commitments to extend credit extended assets held by, assets (funded or contingent) of, deposits with in or for the account of, advances or loans by, or other acquisitions of funds bycredit extended by such Agent, any the Issuing Bank, such Lender or Participant;participant by reason of or in respect to this Agreement and the Loan Documents, including (without limitation) pursuant to Regulation D of the Board of Governors of the Federal Reserve System; or (c) imposesimpose on such Agent, modifiesthe Issuing Bank, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any such Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; or (d) imposes upon any Lender or Participant participant any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit Agreement or any commitment or security thereforother Loan Document, and the result of any of the foregoing is to increase directly or indirectly the cost toto such Agent, reduce the income receivable byIssuing Bank, or impose any expense (including loss of margin) upon any such Lender or Participant with respect participant of making, renewing or maintaining its Loans or interests therein or any such other extension of credit provided pursuant to this Agreement, the Agreement or any other Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) Document by an amount which that such Agent, the Issuing Bank, such Lender or Participant participant deems to be material in the exercise of its reasonable business judgment or to itreduce the amount of any payment (whether of principal, then interest or otherwise) in respect of any of such Loans, interests or other extensions of credit by an amount that such Agent, the Issuing Bank, such Lender or Participant participant (or controlling corporation) deems to be material in the exercise of its reasonable business judgment, then, in any such case the Borrowers shall from time to time cause pay such Agent, the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) by Issuing Bank, such Lender or Participant participant, within five (which determination 5) days following its demand, such additional cost or such reduction, as the case may be. Such Agent, the Issuing Bank, or such Lender or, through the relevant Lender, such participant shall certify the amount of such additional cost or reduced amount to the Borrowers and the calculation thereof and such certification shall be conclusive upon the Obligors absent manifest error) . Notwithstanding anything in this paragraph to be necessary to compensate the contrary, in the event such Agent, the Issuing Bank, such Lender or Participant for participant has exercised its rights pursuant to this paragraph, and subsequent thereto determines that the additional amounts paid by the Borrowers in whole or in part exceed the amount which such increaseAgent, reduction or disposition. Such amount shall be due and payable by DART to the Issuing Bank, such Lender or Participant (as directed by participant actually required pursuant hereto, the Administrative Agent) within 10 Business Days from excess, if any, shall be returned to the date of the Administrative Agent’s notice. A certificate Borrowers by such Agent, the Issuing Bank, such Lender or Participant as to or, through the amount due and payable under this Section from time to time and the method of calculating relevant Lender, such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10participant.

Appears in 1 contract

Sources: Secured Debtor in Possession Financing Agreement (Harvard Industries Inc)

Additional Costs. If any law or guideline or interpretation or application (a) subjects If the adoption of, or any change in, any ---------------- Requirement of Law or in the interpretation or application thereof or compliance by any Lender with any request or directive (whether or not having the force of law) from any central bank or other Governmental Authority or the NAIC made subsequent to the date hereof (i) shall subject any Lender or Participant Issuing Lender to any tax of any kind whatsoever with respect to this Agreement, any Note, any Letter of Credit or changes any Lender's participation therein, any Letter of Credit Document or any LIBOR Loan made by it or change the basis of taxation with of payments to such Lender in respect to this Agreement or the Loan Notes, or payments thereof by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes any Governmental Authority (except for taxes covered by Section 5.06 and changes in the rate of tax on the overall net income or share capital of such Lender or Participant imposed its Applicable Lending Office, or any affiliate thereof or franchise tax by the jurisdiction in which the Lender’s or Participant’s principal office is locatedany Governmental Authority); (bii) imposesshall impose, modifies, modify or deems hold applicable any reserve, special deposit deposit, compulsory loan or similar requirement against credits or commitments to extend credit extended assets held by, assets (funded deposits or contingent) of, deposits with other liabilities in or for the account of, advances, loans or other acquisitions extensions of credit by, or any other acquisition of funds by, any office of such Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Issuing Lender or Participant, or (ii) which is not otherwise applicable to included in the obligations determination of any Lender or Participant under this Agreementthe LIBOR Rate hereunder; or (diii) imposes upon any shall impose on such Lender or Participant Issuing Lender any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, (excluding taxes); and the result of any of the foregoing is to increase directly or indirectly the cost toto such Lender or Issuing Lender, by an amount which such Lender or Issuing Lender deems to be material, of making, converting into, continuing or maintaining LIBOR Loans or issuing or participating in Letters of Credit or to reduce the income any amount receivable byhereunder in respect thereof then, in any such case, Borrower shall promptly pay such Lender or impose Issuing Lender, upon its demand, any expense (including loss of margin) upon additional amounts necessary to compensate such Lender or Issuing Lender for such increased cost or reduced amount receivable. If any Lender or Participant with respect Issuing Lender becomes entitled to claim any additional amounts pursuant to this Agreementsubsection, it shall promptly notify Borrower, through Administrative Agent, of the event by reason of which it has become so entitled. A certificate as to any additional amounts setting forth the calculation of such additional amounts pursuant to this Section 5.01 submitted by such Lender or Issuing Lender, through Administrative Agent, to Borrower shall be conclusive in the absence of clearly demonstrable error. Without limiting the survival of any other covenant hereunder, this Section 5.01 shall survive the termination of this Agreement and the payment of the Notes and all other amounts payable hereunder. (b) In the event that any Lender or Issuing Lender shall have determined that the adoption of any law, rule, regulation or guideline regarding capital adequacy (or any change therein or in the interpretation or application thereof) or compliance by any Lender or Issuing Lender or any corporation controlling such Lender or Issuing Lender with any request or directive regarding capital adequacy (whether or not having the force of law) from any central bank or Governmental Authority or the NAIC, in each case, made subsequent to the date hereof including, without limitation, the Loan Notes, or the making, maintenance or funding issuance of any loan (orfinal rule, in the case of any capital adequacy regulation or similar requirementguideline, to does or shall have the effect of reducing the rate of return on such Lender’s 's or Participant’s capitalIssuing Lender's or such corporation's capital as a consequence of its obligations hereunder or under any Letter of Credit to a level below that which such Lender or Issuing Lender or such corporation could have achieved but for such adoption, change or compliance (taking into consideration such Lender’s 's or Participant’s Issuing Lender's or such corporation's policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) deemed by such Lender or Participant (which determination shall be conclusive absent manifest error) Issuing Lender to be necessary material, then from time to time, after submission by such Lender or Issuing Lender to Borrower (with a copy to Administrative Agent) of a written request therefor, Borrower shall promptly pay to such Lender or Issuing Lender such additional amount or amounts as will compensate such Lender or Participant Issuing Lender for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10reduction.

Appears in 1 contract

Sources: Credit Agreement (Princess Beverly Coal Holding Co Inc)

Additional Costs. If any law or guideline or interpretation or applicationChange in Law shall: (ai) subjects any Lender impose, modify or Participant to any tax or changes the basis of taxation with respect to this Agreement or the Loan Notes, or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes on the overall net income or share capital of such Lender or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is located); (b) imposes, modifies, or deems deem applicable any reserve, special deposit deposit, compulsory loan, insurance charge or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with or for the account of, or other acquisitions of funds credit extended or participated in by, any Lender (including without limitation, any marginal, special, emergency or Participantsupplemental reserves established by the Board or any other reserves imposed pursuant to Regulation D of the Board) (except any such reserve requirement reflected in the Adjusted Fixed Rate) or any Issuing Bank; (cii) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, impose on any Lender or Participantany Issuing Bank or the London or other interbank market utilized to determine the Fixed Rate or any Set Rate any other condition, cost or expense (iiother than Taxes) otherwise applicable to the obligations of affecting this Agreement, any Fixed Rate Loans or any Set Rate Loans made by such Lender or Participant under this Agreementany Letter of Credit or participation therein; or (iii) subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (d) imposes upon any Lender or Participant any other condition or expense with respect to this Agreementof the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or the Loan Notesother obligations, or its makingdeposits, maintenance reserves, other liabilities or funding of any loan or other credit or any commitment or security therefor, capital attributable thereto; and the result of any of the foregoing is shall be to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) by such Lender or Participant (which determination shall be conclusive absent manifest error) to be necessary to compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant such other Recipient of making, continuing, converting or maintaining any Fixed Rate Loan (as directed by or of maintaining its obligation to make any such Loan) or maintaining any Set Rate Loans or to increase the Administrative Agentcost to such Lender, such Issuing Bank or such other Recipient of participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit) within 10 Business Days from or to reduce the date amount of the Administrative Agent’s notice. A certificate any sum received or receivable by such Lender Lender, such Issuing Bank or Participant such other Recipient hereunder (whether of principal, interest or otherwise), then the Borrower will pay to such Lender, such Issuing Bank or such other Recipient, as to the case may be, such additional amount due and payable under this Section from time to time and or amounts as will compensate such Lender, such Issuing Bank or such other Recipient, as the method of calculating case may be, for such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10additional costs incurred or reduction suffered.

Appears in 1 contract

Sources: Credit Agreement (Leggett & Platt Inc)

Additional Costs. If any law or guideline or interpretation or application (a) Subject to Section 12.8, the Company shall pay to the Agent, on demand, for the account of such Bank, from time to time such amounts as any Bank may reasonably determine to be necessary to compensate it for any costs incurred by such Bank which such Bank reasonably determines are attributable to its making or maintaining any Eurodollar Loan hereunder or its obligation to make or maintain any such Loan hereunder, or any reduction in any amount receivable by such Bank hereunder in respect of any of such Loans or such obligation (such increases in costs and reductions in amounts receivable being herein called "Additional Costs"), in each case resulting from any Regulatory Change which: (1) subjects any Lender such Bank (or Participant makes it apparent that such Bank is subject) to any tax (including any United States interest equalization tax), levy, impost, duty, charge or fee (collectively, "Taxes"), or any deduction or withholding for any Taxes on or from the payment due under any Eurodollar Loan or other amounts due hereunder, other than income and franchise taxes of the jurisdiction (or any subdivision thereof) in which such Bank has an office or its Applicable Lending Office; or (2) changes the basis of taxation with respect of any amounts payable to such Bank under this Agreement or the Loan Notesits Note in respect of any of such Loans, other than changes which affect taxes measured by or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes imposed on the overall net income or share capital franchise taxes of such Lender Bank or Participant imposed of its Applicable Lending Office for any of such Loans by the jurisdiction (or any subdivision thereof) in which the Lender’s such Bank has an office or Participant’s principal office is located);such Applicable Lending Office; or (b3) imposes, modifies, imposes or modifies or increases or deems applicable any Statutory Reserves or any other reserve, special deposit or similar requirement against credits (including any such requirement imposed by the Board) relating to any extensions of credit or commitments to extend credit extended by, other assets (funded or contingent) of, or any deposits with or for the account of, or other acquisitions of funds by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; or (d) imposes upon any Lender or Participant any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, and the result of any of the foregoing is to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) by such Lender or Participant (which determination shall be conclusive absent manifest error) to be necessary to compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10.other

Appears in 1 contract

Sources: Credit Agreement (Monterey Acquisition Corp)

Additional Costs. If any law or guideline or interpretation or application (a) subjects The Company shall pay directly to the Agent on behalf of any Lender from time to time such amounts as any Lender may determine to be necessary to (i) shall subject any Lender (or Participant its Lending Office) to any tax tax, duty or other charge in respect of such Loans or its Notes or changes the basis of taxation with respect of any amounts payable to such Lender under this Agreement or its Notes in respect of Loans (excluding changes in the Loan Notes, or payments by DART rate of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes tax on the overall net income or share capital of such Lender or Participant imposed of such Lending Office by the jurisdiction in which the Lender’s or Participant’s such Lender has its principal office is locatedor such Lending Office);; or (bii) imposes, modifies, imposes or deems applicable modifies any reserve, special deposit or similar requirement against credits requirements relating to any extensions of credit or commitments to extend credit extended by, other assets (funded or contingent) of, or any deposits with or for the account other liabilities of, or other acquisitions of funds bysuch Lender (including, without limitation, any Lender of such Loans or Participant; (c) imposes, modifiesany deposits referred to in the definition of "Eurodollar Rate" in Section 1.01 hereof), or deems applicable any capital adequacy or similar requirement commitment of such Lender (i) against assets (funded or contingent) ofincluding, or credits or commitments to extend credit extended bywithout limitation, any the Commitment of such Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreementhereunder); or (diii) imposes upon any Lender or Participant any other condition or expense with respect to affecting this Agreement, or the Loan Notes, Agreement or its making, maintenance Notes (or funding any of any loan or other such extensions of credit or any commitment liabilities) or security therefor, and its Commitment. (b) Without limiting the result of any effect of the foregoing is provisions of this Section 5.01 (but without duplication), the Company shall pay to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss Agent on behalf of margin) upon any Lender or Participant with respect to this Agreement, the Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) by on request such amounts as such Lender or Participant (which determination shall be conclusive absent manifest error) may determine to be necessary to compensate such Lender or Participant for such increase(or, reduction or disposition. Such amount shall be due and payable by DART to without duplication, the bank holding company of which such Lender or Participant (as directed by is a subsidiary) for any costs that it determines are attributable to the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate maintenance by such Lender (or Participant as any Lending Office or such bank holding company), pursuant to any law or regulation or any interpretation, directive or request (having the force of law and where the failure to comply therewith would be unlawful) of any court or governmental or monetary authority (i) following any Regulatory Change or (ii) implementing any risk-based capital guideline or other requirement (having the force of law and where the failure to comply therewith would be unlawful) heretofore or hereafter issued by any government or governmental or supervisory authority implementing at the national level the Basle Accord, of capital in respect of its Commitments or Loans (such compensation to include, without limitation, an amount due and payable under equal to any reduction of the rate of return on assets or equity of such Lender (or any Lending Office or such bank holding company) to a level below that which such Lender (or any Lending Office or such bank holding company) could have achieved but for such law, regulation, interpretation, directive or request). For purposes of this Section from time to time and 5.01(b), "Basle Accord" shall mean the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice proposals for risk-based capital framework described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions Basle Committee on Banking Regulations and Supervisory Practices in its paper entitled "International Convergence of Section 8.10.Capital Measurement and Capital Standards" dated July 1988, as amended, modified and supplemented and in effect

Appears in 1 contract

Sources: Credit Agreement (Starwood Hotel & Resorts Worldwide Inc)

Additional Costs. If any law or guideline or interpretation or application (a) subjects If, on or after the date hereof, the adoption of any Requirement of Law, or any change in any Requirement of Law, or any change in the interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration thereof, or compliance by any Lender (or Participant to its Applicable Lending Office) with any tax request or changes directive (whether or not having the basis force of taxation with respect to this Agreement law) of any such Governmental Authority, shall impose, modify or the Loan Notesdeem applicable any reserve (including, or payments by DART of principalwithout limitation, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes on the overall net income or share capital of any such Lender or Participant requirement imposed by the jurisdiction in which Board of Governors of the Lender’s or Participant’s principal office is locatedFederal Reserve System); (b) imposes, modifies, or deems applicable any reserve, special deposit deposit, contribution, insurance assessment or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with or for the account of, or other acquisitions of funds by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender (or Participant, its Applicable Lending Office) or (ii) otherwise applicable to the obligations of shall impose on any Lender (or Participant under this Agreement; or (dits Applicable Lending Office) imposes upon any Lender or Participant the London interbank market any other condition affecting any Loan, Note or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding Commitment of any loan or other credit or any commitment or security thereforsuch Lender, and the result of any of the foregoing is to increase directly the cost to such Lender (or indirectly its Applicable Lending Office) of making or maintaining any Loan, or to reduce the amount of any sum received or receivable by such Lender (or its Applicable Lending Office) under this Agreement or under any Note, by an amount reasonably deemed by such Lender to be material (other than Taxes, which shall be treated in accordance with Section 5.05 hereof), then the Borrowers shall pay to such Lender on the date five (5) business days after demand, such additional amount or amounts as will compensate such Lender for such increased cost or reduction; provided, that this clause (a) shall not be deemed to apply to any increase in cost to, reduce the income or reduction in an amount received or receivable by, such Lender described above in this clause (a) to the extent attributable to regulatory action taken by reason of the occurrence of a material adverse change in the financial condition or impose any expense capitalization of such Lender. (including loss of marginb) upon If any Lender or Participant with respect to this Agreementshall have determined that, after the date hereof, the Loan Notesadoption of any Requirement of Law regarding capital adequacy, or any change therein, or any change in the makinginterpretation or administration thereof by any Governmental Authority charged with the interpretation or administration thereof, maintenance or funding any request or directive regarding capital adequacy (whether or not having the force of law) of any loan (orsuch Governmental Authority, in the case of any capital adequacy has or similar requirement, to would have the effect of reducing the rate of return on capital of such Lender (or its parent) as a consequence of such Lender’s 's obligations hereunder or Participant’s capitalits Loan or Loans to a level below that which such Lender (or its parent) could have achieved but for such adoption, taking into consideration such Lender’s change, request or Participant’s policies with respect to capital adequacy) directive by an amount which such Lender or Participant deems reasonably deemed by it to be material to itmaterial, then such Lender or Participant shall from time to time cause time, within 15 days after demand (which refers to the Administrative Agent relevant Requirement of Law in reasonable detail) by such Lender, the Borrowers shall pay to notify DART such Lender such additional amount or amounts as will compensate such Lender (or its parent) for such reduction; provided, that this clause (b) shall not be deemed to apply to any such reduction incurred by a Lender to the extent attributable to regulatory action taken by reason of the occurrence of a material adverse change in the financial condition or capitalization of such Lender. (c) Each Lender will promptly notify the Borrowers of any event of which it has knowledge, occurring after the date hereof, which will entitle such Lender to compensation pursuant to this Section, such notice to provide reasonable detail of such event. Before giving any such notice pursuant to this subsection (c) such Lender shall designate a different Applicable Lending Office if such designation (i) will, in the reasonable judgment of such Lender, avoid the need for, or reduce the amount determined of, such compensation and (ii) will not, in good faith (using the reasonable judgment of such Lender, be materially disadvantageous to such Lender. A certificate of any Lender claiming compensation under this Section 5.01, setting forth the additional amount or amounts to be paid to it hereunder and providing reasonable detail as aforesaid, shall be conclusive and binding on the Borrowers in the absence of manifest error. In determining such amount, such Lender may use any reasonable averaging and attribution methodsmethods as long as such methods are consistent with such Lender's treatment of customers similar to the Borrowers having generally similar provisions in their agreements with such Lender. Notwithstanding anything to the contrary in clauses (a) and (b) above, no Lender shall be entitled to make a claim for compensation with respect to any event occurring more than 180 days prior to the date on which such Lender notifies the Borrowers of its claim for compensation. (d) If any Lender requests compensation under this Section 5.01, the Borrowers may, at their sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (subject to the restrictions contained in Section 14.06), all of its interests, rights and obligations under this Agreement to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment); provided, that (i) such assignee shall be subject to the prior approval of the Administrative Agent, (ii) such Lender shall have received payment in full of the outstanding principal of its Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, and (iii) such assignment is reasonably expected to result in a reduction in such compensation or payments. A Lender shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Lender or Participant (which determination shall be conclusive absent manifest error) otherwise, the circumstances entitling the Borrowers to be necessary require such assignment and delegation cease to compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10apply.

Appears in 1 contract

Sources: Loan Agreement (Vitro Sa De Cv)

Additional Costs. If any law or guideline or interpretation or application (a) subjects In the event that on or after the date hereof, the adoption of or any change in any applicable law, treaty, rule or regulation (whether domestic or foreign) now or hereafter in effect and whether or not presently applicable to any Lender or Participant to the Agent, or any tax interpretation or changes administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender or the Agent with any guideline, request or directive of any such authority (whether or not having the force of law), shall (i) directly affect the basis of taxation with respect of payments to any Lender or the Agent of any amounts payable by the Company under this Agreement or the Loan Notes, or payments by DART of principal, interest, fees or (other amounts due from DART hereunder or under the Loan Notes (except for than taxes imposed on the overall net income or share capital of such any Lender or Participant imposed the Agent, by the jurisdiction jurisdiction, or by any political subdivision or taxing authority of any such jurisdiction, in which any Lender or the Lender’s or Participant’s Agent, as the case may be, has its principal office is locatedoffice); (b) imposes, modifies, or deems (ii) shall impose, modify or deem applicable any reserve, special deposit or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with or for the account of, or other acquisitions of funds by, credit extended by any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participantthe Agent, or (iiiii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; or (d) imposes upon any Lender or Participant shall impose any other condition or expense with respect to this Agreement, the Commitments, the Notes or the Loan Notes, or its making, maintenance or funding of any loan or other credit Loans or any commitment or security thereforLetter of Credit, and the result of any of the foregoing (i.e., (i), (ii) or (iii)) is to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon to any Lender or Participant with respect the Agent, as the case may be, of making, funding or maintaining any LIBOR Loan or any Letter of Credit or to this Agreement, reduce the Loan Notes, amount of any sum receivable by any Lender or the makingAgent, maintenance as the case may be, thereon, then the Company shall pay to such Lender or funding the Agent, as the case may be, from time to time, upon request by such Lender (with a copy of any loan (orsuch request to be provided to the Agent) or the Agent, additional amounts sufficient to compensate such Lender or the Agent, as the case may be, for such increased cost or reduced sum receivable to the extent, in the case of any capital adequacy LIBOR Loan, such Lender or similar requirementthe Agent is not compensated therefor in the computation of the interest rate applicable to such LIBOR Loan. A statement as to the amount of such increased cost or reduced sum receivable, prepared in good faith and in reasonable detail by such Lender or the Agent, as the case may be, and submitted by such Lender or the Agent, as the case may be, to have the Company, shall be conclusive and binding for all purposes absent manifest error in computation. (b) In the event that on or after the date hereof, the adoption of or any change in any applicable law, treaty, rule or regulation (whether domestic or foreign) now or hereafter in effect and whether or not presently applicable to any Lender or the Agent, or any interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender or the Agent with any guideline, request or directive of any such authority (whether or not having the force of law), including any risk-based capital guidelines, affects or would affect the amount of capital required or expected to be maintained by such Lender or the Agent (or any corporation controlling such Lender or the Agent) and such Lender or the Agent, as the case may be, determines that the amount of such capital is increased by or based upon the existence of such Lender's or the Agent's obligations hereunder and such increase has the effect of reducing the rate of return on such Lender’s 's or Participant’s capital, the Agent's (or such controlling corporation's) capital as a consequence of such obligations hereunder to a level below that which such Lender or the Agent (or such controlling corporation) could have achieved but for such circumstances (taking into consideration such Lender’s or Participant’s its policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) deemed by such Lender or Participant (which determination shall be conclusive absent manifest error) the Agent to be necessary material, then the Company shall pay to such Lender or the Agent, as the case may be, from time to time, upon request by such Lender (with a copy of such request to be provided to the Agent) or the Agent, additional amounts sufficient to compensate such Lender or Participant the Agent (or such controlling corporation) for any increase in the amount of capital and reduced rate of return which such increaseLender or the Agent reasonably determines to be allocable to the existence of such Lender's or the Agent's obligations hereunder. A statement as to the amount of such compensation, reduction prepared in good faith and in reasonable detail by such Lender or disposition. Such amount the Agent, as the case may be, and submitted by such Lender or the Agent to the Company, shall be due conclusive and payable by DART binding for all purposes absent manifest error in computation. (c) Each Lender will promptly notify the Company and the Agent of any event of which it has knowledge, occurring after the date hereof, which will entitle such Lender to compensation pursuant to this Section and will designate a different Applicable Lending Office if such designation will avoid the need for, or reduce the amount of, such compensation and will not in the judgment of such Lender be otherwise disadvantageous to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as contrary to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10its policies.

Appears in 1 contract

Sources: Credit Agreement (Standard Parking Ii LLC)

Additional Costs. If any law or guideline or interpretation or application (a) subjects If, as a result of any Regulatory Change: (i) any Lender or Participant any Issuing Lender shall be subject to any tax of any kind whatsoever with respect to amounts payable to it under this Agreement or changes any Eurodollar Loan made by it, or the basis of taxation with of payments to such Lender or such Issuing Lender in respect to this Agreement or thereof is changed (except, in each case, for Non-Excluded Taxes covered by Section 2.14, taxes described in clauses (x) through (z) of Section 2.14(a), net income taxes, franchise taxes, and branch profits taxes, and changes in the Loan Notes, or payments by DART rate of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes tax on the overall net income or share capital of such Lender or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is located);; or (bii) imposes, modifies, or deems applicable any reserve, special deposit deposit, capital adequacy, liquidity, compulsory loan or similar requirement against credits requirements relating to any extensions of credit or commitments to extend credit extended by, other assets (funded or contingent) of, or any deposits with or for the account other liabilities of, or other acquisitions of funds by, any Lender or Participant; (c) imposesany Issuing Lender, modifies, which requirements are generally applicable to extensions of credit or deems applicable any capital adequacy or similar requirement (i) against other assets (funded or contingent) of, or credits deposits with or commitments to extend credit extended byother liabilities of, such Lender or such Issuing Lender, are imposed, modified, or deemed applicable; or (iii) any other condition affecting this Agreement, any Eurodollar Loans or any Letter of Credit or participation therein is imposed on any Lender or Participantany Issuing Lender after the date hereof, or (ii) otherwise which condition is generally applicable to loans made by such Lender or such Issuing Lender; and any Lender or any Issuing Lender, as the obligations case may be, determines that, by reason thereof, the cost to such Lender or Issuing Lender (or a holding company of any Lender or Participant under this Agreement; or (dIssuing Lender) imposes upon of making or maintaining its Commitment or any Lender or Participant any other condition or expense with respect of its Eurodollar Loans to this Agreementthe Borrower, or the Loan Notescost (including reduced rate of return) to such Lender or Issuing Lender of participating in, issuing or its makingmaintaining any Letter of Credit, maintenance or funding of any loan or other credit as the case may be, is increased or any commitment amount receivable by such Lender or security therefor, and the result Issuing Lender hereunder in respect of any of the foregoing such Loans or Letters of Credit is to increase directly reduced or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or ParticipantIssuing Lender’s capital, (or holding company’s) capital is reduced (taking into consideration such Lender’s or Participantholding company’s policies with respect to capital adequacy) adequacy and liquidity), in each case by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) reasonably deemed by such Lender or Participant (which determination shall be conclusive absent manifest error) Issuing Lender to be necessary material (such increases in cost and reductions in amounts receivable being herein called “Additional Costs”),then the Borrower shall pay to such Lender or Issuing Lender, as the case may be, upon its request the additional amount or amounts as will compensate such Lender or Issuing Lender, as the case may be, for such Additional Costs within 15 Business Days after written notice of such Additional Costs is received by the Borrower; provided, however, that if all or any such Additional Costs would not have been payable or incurred but for such Lender’s or Issuing Lender’s voluntary decision to designate a new Lending Office, the Borrower shall have no obligation under this Section 2.13 to compensate such Lender or Participant Issuing Lender for such increaseamount relating to such Lender’s or Issuing Lender’s decision; provided, reduction or disposition. Such amount further, that the Borrower shall not be due and payable by DART required to make any payments to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from Issuing Lender for Additional Costs incurred more than 60 days prior to the date of the Administrative Agent’s notice. A certificate by that such Lender or Participant Issuing Lender, as the case may be, notifies the Borrower of such Lender’s or Issuing Lender’s intention to claim compensation therefor. (b) Without limiting the amount due and payable under this Section from time to time and the method effect of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.102.13(a) (but without duplication thereof), the Borrower will pay to any Lender, within 15 Business Days of receipt by the Borrower of notice from such Lender, for each day such Lender is required to maintain reserves against “Eurocurrency liabilities” under Regulation D of the Board as in effect on the date of this Agreement, an additional amount determined by such Lender equal to the product of the following: (i) the principal amount of the Eurodollar Loan; (ii) the remainder of (x) a fraction the numerator of which is the Eurodollar Rate for such Eurodollar Loan and the denominator of which is one minus the rate at which such reserve requirements are imposed on such Lender on such day minus (y) such numerator; and (iii) 1/360. Such Lender shall request payment under this Section 2.13(b) by giving notice to the Borrower as of the last day of each Interest Period for each Eurodollar Loan (and, if such Interest Period exceeds three months’ duration, also as of three months, or a whole multiple thereof, after the first day of such Interest Period). Such notice shall specify the basis for requesting such compensation and the method for determining the amount thereof. Such Lender shall provide any evidence of such requirement to maintain reserves as the Borrower may reasonably request. (c) Notwithstanding anything herein to the contrary, (i) all requests, rules, guidelines, requirements and directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or by United States or foreign regulatory authorities, in each case pursuant to Basel III, and (ii) the D▇▇▇-F▇▇▇▇ ▇▇▇▇ Street Reform and Consumer Protection Act and all requests, rules, guidelines, requirements and directives thereunder or issued in connection therewith or in implementation thereof, shall in each case be deemed to be a Regulatory Change, regardless of the date enacted, adopted, issued or implemented. (d) Each Lender will notify the Borrower and the Administrative Agent of any Regulatory Change occurring after the date of this Agreement which will entitle such Lender or Issuing Lender, as the case may be, to compensation pursuant to Section 2.13(a) or (c) as promptly as practicable after it obtains knowledge thereof and determines to request such compensation. If such Lender or Issuing Lender requests compensation under Section 2.13(a) or (c), the Borrower may, by notice to such Lender or Issuing Lender, as applicable, require that such Lender or Issuing Lender forward to the Borrower a statement setting forth the basis for requesting such compensation and the method for determining the amount thereof. Determinations by any Lender or Issuing Lender for purposes of this Section 2.13 of the effect of any Regulatory Change shall be conclusive, provided that such determinations are made absent manifest error.

Appears in 1 contract

Sources: Credit Agreement (Southern California Edison Co)

Additional Costs. If any law or guideline or interpretation or application (a) subjects If the adoption of, or any change in, ---------------- any Requirement of Law or in the interpretation or application thereof or compliance by any Lender with any request or Participant directive (whether or not having the force of law) from any central bank or other Governmental Authority or the NAIC made subsequent to the Original Closing Date: (i) shall subject any Lender to any tax of any kind whatsoever with respect to this Agreement, any Note, any Letter of Credit or changes any Lender's participation therein, any Letter of Credit Document or any LIBOR Loan made by it or change the basis of taxation with of payments to such Lender in respect to this Agreement or the Loan Notes, or payments thereof by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes any Governmental Authority (except for taxes covered by Section 5.06 and changes in the rate of tax on the overall net income or share capital of such Lender or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is locatedany Governmental Authority); (bii) imposesshall impose, modifies, modify or deems hold applicable any reserve, special deposit deposit, compulsory loan or similar requirement against credits or commitments to extend credit extended assets held by, assets (funded deposits or contingent) of, deposits with other liabilities in or for the account of, advances, loans or other acquisitions extensions of credit by, or any other acquisition of funds by, any office of such Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) which is not otherwise applicable to included in the obligations determination of any Lender or Participant under this Agreementthe LIBOR Rate hereunder; or (diii) imposes upon any shall impose on such Lender or Participant any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, condition; and the result of any of the foregoing is to increase directly or indirectly the cost toto such Lender, by an amount which such Lender deems to be material, of making, converting into, continuing or maintaining LIBOR Loans or issuing or participating in Letters of Credit or to reduce any amount receivable hereunder in respect thereof then, in any such case, Borrower shall promptly pay such Lender, upon its demand, any additional amounts necessary to compensate such Lender for such increased cost or reduced amount receivable. If any Lender becomes entitled to claim any additional amounts pursuant to this subsection, it shall promptly notify Borrower, through the income receivable byAdministrative Agent, of the event by reason of which it has become so entitled. A certificate as to any additional amounts setting forth the calculation of such additional amounts pursuant to this Section 5.01 submitted by such Lender, through the Administrative Agent, to Borrower shall be conclusive in the absence of clearly demonstrable error. This covenant shall survive the termination of this Agreement and the payment of the Notes and all other amounts payable hereunder. (b) In the event that any Lender shall have determined that the adoption after the Original Closing Date of any law, rule, regulation or impose guideline regarding capital adequacy (or any expense (including loss of marginchange after the Origi- nal Closing Date therein or in the interpretation or application thereof) upon or compliance by any Lender or Participant any corporation controlling such Lender with respect to this Agreementany request or directive after the Original Closing Date regarding capital adequacy (whether or not having the force of law) from any central bank or Governmental Authority or the NAIC, including, without limitation, the Loan Notes, or the making, maintenance or funding issuance of any loan (orfinal rule, in the case of any capital adequacy regulation or similar requirementguideline, to does or shall have the effect of reducing the rate of return on such Lender’s 's or Participant’s capitalsuch corporation's capital as a consequence of its obligations hereunder or under any Letter of Credit to a level below that which such Lender or such corporation could have achieved but for such adoption, change or compliance (taking into consideration such Lender’s 's or Participant’s such corporation's policies with respect to capital adequacy) by an amount which deemed by such Lender or Participant deems to be material to itmaterial, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) time, after submission by such Lender or Participant to Borrower (which determination shall be conclusive absent manifest error) with a copy to be necessary to compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by a prompt written request therefor, Borrower shall promptly pay to such Lender such additional amount or Participant amounts as to the amount due and payable under this Section from time to time and the method of calculating will compensate such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10Lender for such reduction.

Appears in 1 contract

Sources: Credit Agreement (Tuesday Morning Corp/De)

Additional Costs. If any law or guideline or interpretation or application (a) subjects If the adoption of, or any change in, in each case after the Closing Date, any Requirement of Law or in the interpretation or application thereof or compliance by any Lender with any request or directive (whether or not having the force of law) from any central bank or other Governmental Authority or the NAIC made subsequent to the Closing Date (other than such adoptions or changes as may relate to the certain Lenders' indirect ownership of the Companies): (i) shall subject any Lender or Participant L/C Lender to any tax of any kind whatsoever with respect to this Agreement, any Note, any Letter of Credit or changes any Lender's participation therein, any L/C Document or any Loan made by it or change the basis of taxation with of payments to such Lender in respect to this Agreement or the Loan Notes, or payments thereof by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes any Governmental Authority (except for taxes covered by or expressly excluded from coverage by, and expressly subject to, Section 5.06, changes in the rate of tax on the overall net income or share capital net profits of such Lender or Participant its Applicable Lending Office, or any affiliate thereof or franchise taxes or similar taxes imposed with respect to or in lieu of its net income or net profits by the jurisdiction in which the Lender’s or Participant’s principal office is locatedany Governmental Authority); (bii) imposesshall impose, modifies, modify or deems hold applicable any reserve, special deposit deposit, compulsory loan or similar requirement (including any Reserve Requirement) against credits or commitments to extend credit extended assets held by, assets (funded deposits or contingent) of, deposits with other liabilities in or for the account of, advances, loans or other acquisitions extensions of credit by, or any other acquisition of funds by, any office of such Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any L/C Lender or Participant, or (ii) which is not otherwise applicable to included in the obligations determination of any Lender or Participant under this Agreementthe LIBO Rate hereunder; or (diii) imposes upon any shall impose on such Lender or Participant L/C Lender any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, (excluding taxes); and the result of any of the foregoing is to increase directly or indirectly the cost toto such Lender or L/C Lender, by an amount which such Lender or L/C Lender deems to be material, of making, converting into, continuing or maintaining LIBOR Loans or issuing or participating in Letters of Credit or to reduce the income any amount receivable byhereunder in respect thereof then, in any such case, Borrower shall, within 10 days of written demand therefor, pay such Lender or impose L/C Lender any expense additional amounts necessary to compensate such Lender or L/C Lender on a net after-tax basis (including loss of margintaking into account any additional tax costs or tax benefits) upon for such increased cost or reduced amount receivable. If any Lender or Participant with respect L/C Lender becomes entitled to claim any additional amounts pursuant to this Agreementsubsection, it shall promptly notify Borrower, through Collateral Agent, of the event by reason of which it has become so entitled. A certificate as to any additional amounts setting forth the calculation of such additional amounts pursuant to this Section 5.01 submitted by such Lender or L/C Lender, through Collateral Agent, to Borrower shall be conclusive in the absence of clearly demonstrable error. Without limiting the survival of any other covenant hereunder, this Section 5.01 shall survive the termination of this Agreement and the payment of the Notes and all other Obligations payable hereunder. (b) In the event that any Lender or L/C Lender shall have determined that the adoption after the Closing Date of any law, rule, regulation or guideline regarding capital adequacy (or any change after the Closing Date therein or in the interpretation or application thereof) or compliance by any Lender or L/C Lender or any corporation controlling such Lender or L/C Lender with any request or directive regarding capital adequacy (whether or not having the force of law) from any central bank or other Governmental Authority or the NAIC, in each case, made subsequent to the Closing Date including, without limitation, the Loan Notes, or issuance after the making, maintenance or funding Closing Date of any loan (orfinal rule, in the case of any capital adequacy regulation or similar requirementguideline, to does or shall have the effect of reducing the rate of return on such Lender’s 's or Participant’s capitalL/C Lender's or such corporation's capital as a consequence of its obligations hereunder or under any Letter of Credit to a level below that which such Lender or L/C Lender or such corporation could have achieved but for such adoption, change or compliance (taking into consideration such Lender’s 's or Participant’s L/C Lender's or such corporation's policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) deemed by such Lender or Participant (which determination shall be conclusive absent manifest error) L/C Lender to be necessary material, then from time to time, after submission by such Lender or L/C Lender to Borrower (with a copy to Collateral Agent) of a written request therefor, Borrower shall promptly pay to such Lender or L/C Lender such additional amount or amounts as will compensate such Lender or Participant L/C Lender for such increase, reduction reduction. (c) Failure or disposition. Such amount delay on the part of any Lender or the L/C Lender to demand compensation pursuant to this Section shall not constitute a waiver of such Lender's or the L/C Lender's right to demand such compensation; provided that the Borrower shall not be due and payable by DART required to compensate a Lender or the L/C Lender pursuant to this Section for any increased costs or reductions incurred more than 180 days prior to the date that such Lender or Participant (the L/C Lender, as directed by the Administrative Agent) within 10 Business Days from case may be, notifies the date Borrower of the Administrative Agent’s notice. A certificate by change in law giving rise to such Lender increased costs or Participant as reductions and of such Lender's or the L/C Lender's intention to claim compensation therefor; provided, further, that, if the amount due and payable under this Section from time change in law giving rise to time and such increased costs or reductions is retroactive, then the method of calculating such amount 180-day period referred to above shall be conclusive absent manifest error and shall be provided extended to DART along with include the notice described above. The rights period of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10retroactive effect thereof.

Appears in 1 contract

Sources: Credit Agreement (Colony Rih Acquisitions Inc)

Additional Costs. If any law present or guideline future applicable law, which expression, as used herein, includes statutes, rules and regulations thereunder and interpretations thereof by any competent court or by any governmental or other regulatory body or official charged with the administration or the interpretation thereof and requests, directives, instructions and notices at any time or applicationfrom time to time hereafter made upon or otherwise issued to a Metal Lender by any central bank or other fiscal, monetary or other authority (whether or not having the force of law), shall: (a) subjects any subject a Metal Lender or Participant to any tax Tax (except for any Excluded Tax), levy, impost, duty, charge, fee, deduction or changes withholding of any nature with respect to the making of Fixed Rate Consignments, or (b) materially change the basis of taxation with respect to this Agreement or the Loan Notes, or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes changes in Excluded Taxes) of payments to a Metal Lender of the principal of or the interest on the overall net income Fixed Rate Consignments or share capital of such any other amounts payable to a Metal Lender or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is located);under this Agreement for Fixed Rate Consignments, or (bc) imposesimpose or increase or render applicable (other than to the extent specifically provided for elsewhere in this Agreement) any special deposit, modifiesreserve, assessment, liquidity, capital adequacy or other similar requirements (whether or not having the force of law) against assets held by, or deems applicable any reserve, special deposit or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with in or for the account of, or other acquisitions of funds loans by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments of a Metal Lender as they relate to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; , or (d) imposes upon any impose on a Metal Lender or Participant any other condition conditions or expense requirements with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit Fixed Rate Consignments or any commitment or security therefor, class of commitments of which any of Fixed Rate Consignments form a part; (e) and the result of any of the foregoing is is: (i) to increase directly or indirectly the cost toto the Metal Lender of making, funding, issuing, renewing, extending or maintaining any of the Fixed Rate Consignments, or (ii) to reduce the income receivable byamount of principal, interest or impose other amount payable to the Metal Lender hereunder on account of any expense of the Fixed Rate Consignments, or (including loss of marginiii) upon to require the Metal Lender to make any Lender payment or Participant with respect to this Agreementforego any interest or other sum payable hereunder, the Loan Notes, amount of which payment or foregone interest or other sum is calculated by reference to the making, maintenance or funding gross amount of any loan (or, in the case of any capital adequacy sum receivable or similar requirement, to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) by such Lender or Participant (which determination shall be conclusive absent manifest error) to be necessary to compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed deemed received by the Administrative Agent) within 10 Business Days from Metal Lender for the date of Customers hereunder, then, and in each such case, the Administrative Agent’s notice. A certificate Customers will, upon demand by such Lender or Participant as to the amount due applicable Metal Lender, at any time and payable under this Section from time to time and as often as the method of calculating occasion therefor may arise, pay to the Metal Lender such amount shall additional amounts as will be conclusive absent manifest error and shall be provided sufficient to DART along with compensate the notice described above. The rights Metal Lender (on an after tax basis, but without duplication of any Participant in this amounts paid pursuant to Section 8.01 are expressly limited by the provisions of Section 8.102.15) for such additional cost, reduction, payment or foregone interest or other sum.

Appears in 1 contract

Sources: Consignment Agreement (Brush Engineered Materials Inc)

Additional Costs. If any law or guideline or interpretation or application (a) subjects The Company shall pay directly to the Lender from time to time such amounts as the Lender may determine to be necessary to compensate the Lender for any costs that the Lender determines are attributable to its (i) shall subject the Lender (or Participant its Lending Office) to any tax tax, duty or other charge in respect of such Loans or its Notes or changes the basis of taxation with respect of any amounts payable to the Lender under this Agreement or its Notes in respect of Loans (excluding changes in the Loan Notes, or payments by DART rate of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes tax on the overall net income of the Lender or share capital of such Lender or Participant imposed Lending Office by the jurisdiction in which the Lender’s or Participant’s Lender has its principal office is locatedor such Lending Office);; or (bii) imposes, modifies, imposes or deems applicable modifies any reserve, special deposit or similar requirement against credits requirements relating to any extensions of credit or commitments to extend credit extended by, other assets (funded or contingent) of, or any deposits with or for the account other liabilities of, or other acquisitions of funds bythe Lender (including, without limitation, any of such Loans or any deposits referred to in the definition of "Eurodollar Rate" in Section 1.01 hereof), or any commitment of the Lender or Participant;(including, without limitation, the Commitment of the Lender hereunder); or (ciii) imposesimposes any other condition affecting this Agreement or its Notes (or any of such extensions of credit or liabilities) or its Commitment. (b) Without limiting the effect of the foregoing provisions of this Section 5.01 (but without duplication), modifiesthe Company shall pay directly to the Lender from time to time on request such amounts as the Lender may determine to be necessary to compensate the Lender (or, without duplication, the bank holding company of which the Lender is a subsidiary) for any costs that it determines are attributable to the maintenance by the Lender (or deems applicable any capital adequacy Lending Office or similar requirement such bank holding company), pursuant to any law or regulation or any interpretation, directive or request (whether or not having the force of law and whether or not failure to comply therewith would be unlawful) of any court or governmental or monetary authority (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, following any Lender or Participant, Regulatory Change or (ii) otherwise applicable to the obligations of implementing any Lender or Participant under this Agreement; or (d) imposes upon any Lender or Participant any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan risk-based capital guideline or other credit requirement (whether or not having the force of law and whether or not the failure to comply therewith would be unlawful) heretofore or hereafter issued by any commitment government or security thereforgovernmental or supervisory authority implementing at the national level the Basle Accord, and the result of capital in respect of its Commitments or Loans (such compensation to include, without limitation, an amount equal to any reduction of the foregoing is to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on assets or equity of the Lender (or any Lending Office or such Lender’s bank holding company) to a level below that which the Lender (or Participant’s capitalany Lending Office or such bank holding company) could have achieved but for such law, taking into consideration such Lender’s regulation, interpretation, directive or Participant’s policies with respect to request). For purposes of this Section 5.01(b), "Basle Accord" shall mean the proposals for risk-based capital adequacy) framework described by an amount which such Lender or Participant deems to be material to itthe Basle Committee on Banking Regulations and Supervisory Practices in its paper entitled "International Convergence of Capital Measurement and Capital Standards" dated July 1988, then such Lender or Participant shall as amended, modified and supplemented and in effect from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using or any reasonable averaging and attribution methods) by such Lender or Participant (which determination shall be conclusive absent manifest error) to be necessary to compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10replacement thereof.

Appears in 1 contract

Sources: Credit Agreement (Asm International N V)

Additional Costs. If any law or guideline or interpretation or application (a) subjects If the adoption of any Applicable Law, or any change in any Applicable Law, or any change in the interpretation or administration thereof by any Governmental Authority charged with the interpretation or administration thereof, or compliance by any Lender (or Participant to its Applicable Lending Office) with any tax request or changes directive (whether or not having the basis force of taxation with respect to this Agreement law) of any Governmental Authority (in each case above, at any time on or the Loan Notesafter May 23, 2002), shall impose, modify or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes deem applicable any reserve (except for taxes on the overall net income or share capital of including any such Lender or Participant requirement imposed by the jurisdiction in which Board of Governors of the Lender’s or Participant’s principal office is locatedU.S. Federal Reserve System); (b) imposes, modifies, or deems applicable any reserve, special deposit deposit, insurance assessment or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with or for the account of, or other acquisitions of funds by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender (or Participant, its Applicable Lending Office) or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; or (d) imposes shall impose upon any Lender (or Participant its Applicable Lending Office) or the London interbank market any other condition or expense with respect to this Agreementaffecting its Loan(s), or the Loan Notes, its Note(s) or its making, maintenance or funding of any loan or other credit or any commitment or security thereforobligation to make its Loan, and the result of any of the foregoing is to increase directly or indirectly the cost toto such Lender (or its Applicable Lending Office) of making or maintaining its Loan(s), or to reduce the income amount of any sum received or receivable byby such Lender (or its Applicable Lending Office) under this Agreement or under any other Loan Document (other than Taxes (including Excluded Taxes), which shall be treated pursuant to Section 4.5), then the Borrower shall pay to the Administrative Agent for the account of such Lender such additional amount(s) as will compensate such Lender for such increased cost or reduction. (b) If any Lender shall have reasonably determined that the adoption of any Applicable Law regarding capital adequacy, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Noteschange therein, or any change in the makinginterpretation or administration thereof by any Governmental Authority charged with the interpretation or administration thereof, maintenance or funding compliance by it (or its Applicable Lending Office) with any request or directive regarding capital adequacy (whether or not having the force of law) of any loan Governmental Authority (orin each case above, in the case of at any capital adequacy time on or similar requirementafter May 23, to 2002), has or would have the effect of reducing the rate of return on capital of such Lender (or its parent or Applicable Lending Office) as a consequence of such Lender’s 's obligations hereunder or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect its Loan(s) to capital adequacy) by an amount a level below that which such Lender (or Participant deems to be material to itits parent or Applicable Lending Office) could have achieved but for such adoption, change, request or directive, then such Lender or Participant shall from time to time cause the Administrative Agent Borrower shall pay to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) by such Lender or Participant (which determination shall be conclusive absent manifest error) to be necessary to such additional amount as will compensate such Lender (or Participant its parent or Applicable Lending Office, as the case may be) for such increasereduction. Credit Agreement 23 (c) Each Lender shall promptly (and, reduction or disposition. Such amount shall be due and payable by DART to in any event, within 90 days of its actual knowledge thereof) notify the Borrower of any event of which it has knowledge that will entitle such Lender or Participant (to compensation pursuant to this Section and shall provide the Borrower with reasonable detail as directed by to the Administrative Agent) within 10 Business Days basis of such Lender's claim to compensation hereunder and method for calculating such compensation; it being understood that any failure of any Lender to deliver any such notice shall result in its not being able to seek compensation pursuant to this Section for the period from and including the date of its actual knowledge of such event to but excluding the Administrative Agent’s date that is 90 days before the date on which it has notified the Borrower of such event. Before giving any such notice, a Lender shall designate a different Applicable Lending Office if such designation: (i) will avoid the need for, or reduce the amount of, such compensation and (ii) will not, in the reasonable judgment of such Lender, be disadvantageous to such Lender. A certificate by such notice of any Lender or Participant as to the amount due and payable claiming compensation under this Section from and providing the information set forth above within the time to time and the method of calculating such amount set forth above shall be conclusive absent prima facie evidence of its entitlement to such compensation and shall be binding upon the Borrower in the absence of manifest error and such amounts shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited payable by the provisions Borrower promptly (and, in any event, within five Business Days) after receipt of Section 8.10such notice (or, if such compensation relates to future dates, by no later than the applicable dates indicated in such notice).

Appears in 1 contract

Sources: Credit Agreement (Votorantim Pulp & Paper Inc)

Additional Costs. If any law or guideline or interpretation or application (a) subjects If, in respect of all or any Lender portion of any Facility A Lender's commitment hereunder, any Eurodollar Rate Borrowing, or Participant any Fixed Rate Borrowing owed to any tax Facility A Lender (i) any present or changes the basis of taxation with respect to this Agreement or the Loan Notesfuture Law shall impose, modify, or payments deem applicable, or compliance by DART such Facility A Lender with any requirement (whether or not having the force of principalLaw) of any Governmental Authority shall result in, interestany requirement that any reserves (including, fees without limitation, any marginal, emergency, supplemental, special, or other amounts due from DART reserves) be maintained, and (ii) any of the same results in a reduction in any sums receivable by such Facility A Lender hereunder or under an increase in the Loan Notes costs incurred by such Facility A Lender in advancing or maintaining any portion of any Eurodollar Rate Borrowing or any Fixed Rate Borrowing, then (except A) such Facility A Lender (through Administrative Agent) shall notify Borrower upon becoming aware of same and deliver to Borrower a certificate setting forth in reasonable detail the amount necessary to compensate such Facility A Lender for taxes on the overall net income such reduction or share capital of such increase (which certificate shall be conclusive and binding as to such amount, absent manifest error), and (B) Borrower shall promptly pay such amount to such Facility A Lender or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is located);within ten (10) days after demand therefor. (b) imposes, modifies, If with respect to all or deems applicable any reserve, special deposit portion of any Borrowing or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with or for the account of, or other acquisitions of funds byany LC, any Lender present or Participant; (c) imposes, modifies, or deems applicable any future Law regarding capital adequacy or similar requirement compliance by Administrative Agent (ias issuer of LCs) against assets (funded or contingent) ofany Facility A Lender or its holding company with any request, directive, or credits requirement now existing or commitments to extend credit extended by, hereafter imposed by any Lender Governmental Authority regarding capital adequacy (whether or Participantnot having the force of Law), or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; or (d) imposes upon any Lender or Participant any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, and the result of any of the foregoing is to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Notes, or the making, maintenance or funding of any loan (or, change in the case risk category of any capital adequacy or similar requirement, to have the effect of reducing this transaction shall result in a reduction in the rate of return on such any Facility A Lender’s 's or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect Administrative Agent's capital as a consequence of its obligations under this Facility A Agreement to capital adequacy) a level below that which it otherwise could have achieved by an amount which such Lender or Participant deems deemed by it to be material to it(and it may, in determining such amount, utilize such assumptions and allocations of costs and expenses as it shall deem reasonable and may use any reasonable averaging or attribution method), then (unless the effect of such Lender or Participant shall from time to time cause event is already reflected in the rate of interest then applicable hereunder) Administrative Agent or such Facility A Lender (through Administrative Agent) shall notify Borrower and deliver to notify DART Borrower a certificate setting forth in reasonable detail the calculation of the amount determined in good faith (using any reasonable averaging and attribution methods) by necessary to compensate Administrative Agent or such Facility A Lender or Participant (its holding company therefor, which determination certificate shall be conclusive and binding absent manifest error) to be necessary to compensate such Lender or Participant for such increase, reduction or disposition. Such amount and Borrower shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and the method of calculating promptly pay such amount shall be conclusive absent manifest error and shall be provided to DART along with Administrative Agent (for the notice described above. The rights account of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10.such

Appears in 1 contract

Sources: Revolving Credit Agreement (Worldcom Inc /Ga/)

Additional Costs. If In the event that any law applicable law, treaty or guideline governmental regulation, or any change therein or in the interpretation or applicationapplication thereof, or compliance by Lender or such participant with any request or directive (whether or not having the force of law) from any central bank or other financial, monetary or other authority, shall: (a) subjects any subject Lender or Participant such participant to any tax or changes the basis of taxation any kind whatsoever with respect to this Agreement or change the Loan Notes, basis of taxation of payments to Lender or payments by DART such participant of principal, interestfees, fees interest or any other amounts due from DART amount payable hereunder or under the Loan Notes any other documents (except for taxes changes in the rate of tax on the overall net income or share capital of such Lender or Participant imposed such participant by the federal government or the jurisdiction in which the Lender’s or Participant’s it maintains its principal office is locatedoffice); (b) imposesimpose, modifies, modify or deems hold applicable any reserve, special deposit deposit, assessment or similar requirement against credits or commitments to extend credit extended assets held by, assets (funded or contingent) of, deposits with in or for the account of, advances or loans by, or other acquisitions of funds by, any credit extended by Lender or Participant;such participant by reason of or in respect to this Agreement and the Loan Documents, including (without limitation) pursuant to Regulation D of the Board of Governors of the Federal Reserve System; or (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any impose on Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; or (d) imposes upon any Lender or Participant such participant any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit Agreement or any commitment or security thereforother document, and the result of any of the foregoing is to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon any to Lender or Participant with respect to this Agreement, the Loan Notes, or the such participant of making, maintenance renewing or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) maintaining its loans hereunder by an amount which such that Lender or Participant such participant deems to be material in the exercise of its reasonable business judgement or to itreduce the amount of any payment (whether of principal, then such interest or otherwise) in respect of any of the loans by an amount that Lender or Participant such participant deems to be material in the exercise of its reasonable business judgement, then, in any case Borrower shall from time to time cause pay Lender or such participant, within five (5) days following its demand, such additional cost or, within thirty (30) days following its demand, such reduction, as the Administrative Agent to notify DART of case may be. Lender or such participant shall certify the amount determined in good faith (using any reasonable averaging of such additional cost or reduced amount to Borrower and attribution methods) by the calculation thereof and such Lender or Participant (which determination certification shall be conclusive upon Borrower absent manifest error) . Notwithstanding anything in this paragraph to be necessary to compensate such the contrary, in the event Lender or Participant for such increaseparticipant has exercised its rights pursuant to this paragraph, reduction and subsequent thereto determine that the additional amounts paid by Borrower in whole or disposition. Such in part exceed the amount which Lender or such participant actually required pursuant hereto, the excess, if any, shall be due and payable returned to Borrower by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10participant.

Appears in 1 contract

Sources: Loan and Security Agreement (Xetel Corp)

Additional Costs. If any law or guideline or interpretation or applicationGovernmental Authority shall: (a) subjects subject any Lender Senior Lender, directly or Participant indirectly, to any tax tax, levy, impost, duty, charge, fee, deduction or changes the basis withholding of taxation any nature with respect to this Agreement Agreement, the Loans or the Loan Notesany loan commitments maintained hereunder, or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes on the overall net income or share capital of such Lender or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is located);than Taxes; or (b) imposesmaterially change the basis of taxation, modifiesexcept for changes in Taxes, directly or deems applicable indirectly, of the principal of or the interest on any reserve, special deposit Loans or similar requirement against credits or commitments any other amounts payable to extend credit extended by, assets (funded or contingent) of, deposits with or for the account of, or other acquisitions of funds by, any such Senior Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; or (dc) imposes upon impose on any Lender Senior Lender, directly or Participant indirectly, any other condition conditions or expense requirements with respect to this Agreement, or the Loan NotesLoans, or its making, maintenance or funding of any loan or other credit commitments maintained hereunder or any commitment class of loans or security therefor, commitments of which any of the Loans forms a part; and the result of any of the foregoing is is: (ii) to increase reduce the amount of principal, interest or other amount payable to such Senior Lender, directly or indirectly indirectly, hereunder on account of any of the cost toLoans; or (iii) to require such Senior Lender, reduce the income receivable bydirectly or indirectly, to make any payment or impose to forego any expense (including loss of margin) upon any Lender interest or Participant with respect to this Agreementother sum payable hereunder, the Loan Notes, amount of which payment or foregone interest or other sum is calculated by reference to the making, maintenance or funding gross amount of any loan sum receivable or deemed received by such Senior Lender from the Borrower hereunder; then, and in each such case, the Borrower shall, within ten (or10) Business Days following receipt of notice from such Senior Lender including calculations of the amounts payable, pay to such Senior Lender such additional amounts as will be sufficient to compensate such Senior Lender for such additional cost, reduction, payment or foregone interest or other sum. The determination by such Senior Lender of any such amount shall, in the case absence of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) by such Lender or Participant (which determination shall be conclusive absent manifest error) to , be necessary to compensate conclusive. At the Borrower's request, such Senior Lender or Participant shall demonstrate the basis for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10determination.

Appears in 1 contract

Sources: Credit Agreement (Starwood Lodging Corp)

Additional Costs. If any law or guideline or interpretation or application (a) Subject to SECTION 12.8, the Company shall pay to the Agent, on demand, for the account of such Bank, from time to time such amounts as any Bank may reasonably determine to be necessary to compensate it for any costs incurred by such Bank which such Bank reasonably determines are attributable to its making or maintaining any Eurodollar Loan hereunder or its obligation to make or maintain any such Loan hereunder, or any reduction in any amount receivable by such Bank hereunder in respect of any of such Loans or such obligation (such increases in costs and reductions in amounts receivable being herein called "ADDITIONAL COSTS"), in each case resulting from any Regulatory Change which: (1) subjects any Lender such Bank (or Participant makes it apparent that such Bank is subject) to any tax (including any United States interest equalization tax), levy, impost, duty, charge or fee (collectively, "TAXES"), or any deduction or withholding for any Taxes on or from the payment due under any Eurodollar Loan or other amounts due hereunder, other than income and franchise taxes of the jurisdiction (or any subdivision thereof) in which such Bank has an office or its Applicable Lending Office; or (2) changes the basis of taxation with respect of any amounts payable to such Bank under this Agreement or the Loan Notesits Note in respect of any of such Loans, other than changes which affect taxes measured by or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes imposed on the overall net income or share capital franchise taxes of such Lender Bank or Participant imposed of its Applicable Lending Office for any of such Loans by the jurisdiction (or any subdivision thereof) in which the Lender’s such Bank has an office or Participant’s principal office is located);such Applicable Lending Office; or (b3) imposes, modifies, imposes or modifies or increases or deems applicable any Statutory Reserves or any other reserve, special deposit or similar requirement against credits (including any such requirement imposed by the Board) relating to any extensions of credit or commitments to extend credit extended by, other assets (funded or contingent) of, or any deposits with or for the account other liabilities of, such Bank or loans made by such Bank, or against any other funds, obliga tions or other acquisitions of funds by, any Lender property owned or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreementheld by such Bank; or (d4) imposes upon any Lender or Participant any other condition affecting this Agreement (or expense any of such extensions of credit or liabilities). Each Bank will notify the Company through the Agent of any event occurring after the date of this Agreement which will entitle such Bank to compensation pursuant to this SECTION 6.1 as promptly as practicable after it obtains knowledge thereof and determines to request such compensation, and (if so requested by the Company through the Agent) will designate a different available Applicable Lending Office for the Eurodollar Loans of such Bank or take such other action as the Company may reasonably request if such designation or action is consistent with the internal policy of such Bank and legal and regulatory restrictions, can be undertaken at no additional cost, will avoid the need for, or reduce the amount of, such compensation and will not, in the sole opinion of such Bank, be disadvantageous to such Bank (PROVIDED that such Bank shall have no obligation so to designate an Applicable Lending Office located in the United States of America). Each Bank will furnish the Company with a statement setting forth the basis and amount of each request by such Bank for compensation under this SECTION 6.1, with each such statement to cover amounts accruing under this SECTION 6.1 with respect to this Agreement, or a period beginning not earlier than 120 days from the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, date thereof and the result of any of the foregoing is to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods. (b) Without limiting the effect of the foregoing provisions of this SECTION 6.1, in the event that, by reason of any Regulatory Change, any Bank either (1) incurs Additional Costs based on or measured by the excess above a specified level of the amount of a category of deposits or other liabilities of such Lender Bank which includes deposits by reference to which the interest rate on Eurodollar Loans is determined as provided in this Agreement or Participant a category of extensions of credit or other assets of such Bank which includes Eurodollar Loans or (2) becomes subject to restric tions on the amount of such a category of liabilities or assets which determination it may hold, then, if such Bank so elects by notice to the Company (with a copy to the Agent), the obligation of such Bank to make Eurodollar Loans hereunder shall be conclusive suspended until the date such Regulatory Change ceases to be in effect (in which case the provisions of SECTION 6.4 shall be applicable). (c) Determinations and allocations by any Bank for purposes of this SECTION 6.1 of the effect of any Regulatory Change on its costs of maintaining its obligations to make Loans or of making or maintaining Eurodollar Loans or on amounts receivable by it in respect of Eurodollar Loans, and of the additional amounts required to compensate such Bank in respect of any Additional Costs, shall be conclusive, absent manifest error, and may be made using any reasonable averaging and attribution methods. (d) In the event any Bank shall seek compensation pursuant to this SECTION 6.1, the Company may give notice to such Bank (with copies to the Agent) that it wishes to seek one or more Eligible Assignees (which may be one or more of the Banks) to be necessary purchase and assume the Commitment, Loans, Note, Letter of Credit Liabilities and interests in this Agreement of such Bank. Each Bank requesting compensation pursuant to compensate this SECTION 6.1 agrees to sell its Commitment, Loans, Note, Letter of Credit Liabilities and interests in this Agreement pursuant to SECTION 12.6 (without recourse, representation or warranty except as provided in SECTION 12.6) to any such Lender or Participant Eligible Assignee for such increase, reduction or disposition. Such an amount shall be due and payable by DART equal to such Lender or Participant (as directed by x) the Administrative Agent) within 10 Business Days from the date sum of the Administrative Agent’s notice. A certificate by outstanding unpaid principal of and accrued interest on such Lender or Participant as to Loans, Note and Letter of Credit Advances, plus (y) in the case of the Issuer, Cover for the face amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights all undrawn Letter of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10.Credit Liabilities plus

Appears in 1 contract

Sources: Credit Agreement (Monterey Resources Inc)

Additional Costs. If any law present or guideline future applicable law, which expression, as used herein, includes statutes, rules and regulations thereunder and interpretations thereof by any competent court or by any governmental or other regulatory body or official charged with the administration or the interpretation thereof and requests, directives, instructions and notices at any time or application from time to time hereafter made upon or otherwise issued to the Metal Consignor by any central bank or other fiscal, monetary or other authority (whether or not having the force of law), shall: (a) subjects any Lender or Participant subject the Metal Consignor to any tax or changes the basis of taxation with respect to this Agreement or the Loan Notes, or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes on the overall net income or share capital profits), levy, impost, duty, charge, fee, deduction or withholding of such Lender any nature with respect to the making of Fixed Rate Consignments, or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is located); (b) imposes, modifiesmaterially change the basis of taxation (except for changes in taxes on income or profits) of payments to the Metal Consignor of the principal of or the interest on Fixed Rate Consignments or any other amounts payable to the Metal Consignor under this Agreement for Fixed Rate Consignments, or deems (c) impose or increase or render applicable (other than to the extent specifically provided for elsewhere in this Agreement) any special deposit, reserve, special deposit assessment, liquidity, capital adequacy or other similar requirement requirements (whether or not having the force of law) against credits or commitments to extend credit extended assets held by, assets (funded or contingent) of, deposits with in or for the account of, or other acquisitions of funds loans by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable to of the obligations of any Lender or Participant under this Agreement; or (d) imposes upon any Lender or Participant any other condition or expense with respect Metal Consignor as they relate to this Agreement, or (d) impose on the Loan Notes, Metal Consignor any other conditions or its making, maintenance or funding of any loan or other credit requirements with respect to Fixed Rate Consignments or any commitment or security therefor, class of commitments of which any of Fixed Rate Consignments form a part; (e) and the result of any of the foregoing is is: (i) to increase directly or indirectly the cost toto the Metal Consignor of making, funding, issuing, renewing, extending or maintaining any of the Fixed Rate Consignments, or (ii) to reduce the income receivable byamount of principal, interest or other amount payable to the Metal Consignor hereunder on account of any of the Fixed Rate Consignments, or impose (iii) to require the Metal Consignor to make any expense (including loss of margin) upon payment or to forego any Lender interest or Participant with respect to this Agreementother sum payable hereunder, the Loan Notes, amount of which payment or the making, maintenance foregone interest or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) by such Lender or Participant (which determination shall be conclusive absent manifest error) to be necessary to compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10.other sum

Appears in 1 contract

Sources: Precious Metals Consignment Agreement (MATERION Corp)

Additional Costs. If any law or guideline or interpretation or application (a) subjects In the event that on or after the date hereof, the adoption of or any change in any applicable law, treaty, rule or regulation (whether domestic or foreign) now or hereafter in effect and whether or not presently applicable to any Lender or Participant to the Agent, or any tax interpretation or changes administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender or the Agent with any guideline, request or directive of any such authority (whether or not having the force of law), shall (i) directly affect the basis of taxation with respect of payments to any Lender or the Agent of any amounts payable by the Company under this Agreement or the Loan Notes, or payments by DART of principal, interest, fees or (other amounts due from DART hereunder or under the Loan Notes (except for than taxes imposed on the overall net income or share capital of such any Lender or Participant imposed the Agent, by the jurisdiction jurisdiction, or by, any political subdivision or taxing authority of any such jurisdiction, in which any Lender or the Lender’s or Participant’s Agent, as the case may be, has its principal office is locatedoffice); (b) imposes, modifies, or deems (ii) shall impose, modify or deem applicable any reserve, special deposit or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with or for the account of, or other acquisitions of funds by, credit extended by any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participantthe Agent, or (iiiii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; or (d) imposes upon any Lender or Participant shall impose any other condition or expense with respect to this Agreement, or the Loan Commitments, the Notes, or its making, maintenance or funding of any loan or other credit the Loans or any commitment or security thereforLetters of Credit, and the result of any of the foregoing (i.e., (i), (ii) or (iii)) is to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon to any Lender or Participant with respect the Agent, as the case may be, of making, funding or maintaining any LIBOR Loan or any Letter of Credit or to this Agreement, reduce the Loan Notes, amount of any sum receivable by any Lender or the makingAgent, maintenance as the case may be, thereon, then the Company shall pay to such Lender or funding the Agent, as the case may be, from time to time, upon request by such Lender (with a copy of any loan (orsuch request to be provided to the Agent) or the Agent, additional amounts sufficient to compensate such Lender or the Agent, as the case may be, for such increased cost or reduced sum receivable to the extent, in the case of any capital adequacy LIBOR Loan, such Lender or similar requirementthe Agent is not compensated therefor in the computation of the interest rate applicable to such LIBOR Loan. A statement as to the amount of such increased cost or reduced sum receivable, prepared in good faith and in reasonable detail by such Lender or the Agent, as the case may be, and submitted by such Lender or the Agent, as the case may be, to have the Company, shall be conclusive and binding for all purposes absent manifest error in computation. (b) In the event that on or after the date hereof, the adoption of or any change in any applicable law, treaty, rule or regulation (whether domestic or foreign) now or hereafter in effect and whether or not presently applicable to any Lender or the Agent, or any interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender or the Agent with any guideline, request or directive of any such authority (whether or not having the force of law), including any risk-based capital guidelines, affects or would affect the amount of capital required or expected to be maintained by such Lender or the Agent (or any corporation controlling such Lender or the Agent) and such Lender or the Agent, as the case may be, determines that the amount of such capital is increased by or based upon the existence of such Lender’s or the Agent’s obligations hereunder and such increase has the effect of reducing the rate of return on such Lender’s or Participantthe Agent’s capital, (or such controlling corporation’s) capital as a consequence of such obligations hereunder to a level below that which such Lender or the Agent (or such controlling corporation) could have achieved but for such circumstances (taking into consideration such Lender’s or Participant’s its policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) deemed by such Lender or Participant (which determination shall be conclusive absent manifest error) the Agent to be necessary material, then the Company shall pay to such Lender or the Agent, as the case may be, from time to time, upon request by such Lender (with a copy of such request to be provided to the Agent) or the Agent, additional amounts sufficient to compensate such Lender or Participant the Agent (or such controlling corporation) for any increase in the amount of capital and reduced rate of return which such increaseLender or the Agent reasonably determines to be allocable to the existence of such Lender’s or the Agent’s obligations hereunder. A statement as to the amount of such compensation, reduction prepared in good faith and in reasonable detail by such Lender or disposition. Such amount the Agent, as the case may be, and submitted by such Lender or the Agent to the Company, shall be due conclusive and payable by DART binding for all purposes absent manifest error in computation. (c) Each Lender will promptly notify the Company and the Agent of any event of which it has knowledge, occurring after the date hereof, which will entitle such Lender to compensation pursuant to this Section and will designate a different Applicable Lending Office if such designation will avoid the need for, or reduce the amount of, such compensation and will not in the judgment of such Lender be otherwise disadvantageous to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as contrary to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10its policies.

Appears in 1 contract

Sources: Credit Agreement (Standard Parking Corp)

Additional Costs. If any present or future applicable law ("Applicable Law"), which expression as used herein includes statutes, rules and regulations thereunder and interpretations thereof by any competent court or guideline by any governmental or other regulatory body or official charged with the administration or the interpretation thereof and requests, directives, instructions and notices at any time or applicationfrom time to time hereafter made upon or otherwise issued to the Bank by any central bank or other fiscal, monetary or other authority (whether or not having the force of law), including without limitation any change according to a prescribed schedule of increasing requirements, whether or not known or in effect as of the date hereof, shall with respect to the Term Note, the Revolving Credit or undertakings of the Bank under this Agreement (ai) subjects any Lender or Participant subject the Bank to any tax tax, levy, impost, duty, charge, fee, deduction or changes the basis withholding of taxation any nature with respect to this Agreement or undertakings of the Loan NotesBank hereunder or the payment to the Bank of any amounts due to it hereunder, (ii) materially change the basis of taxation of payments to the Bank of the principal of or interest on any amounts payable to the Bank hereunder, (iii) impose or increase or render applicable any special or supplemental deposit or reserve or similar requirements or assessment against assets held by, or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes on the overall net income or share capital of such Lender or Participant imposed by the jurisdiction deposits in which the Lender’s or Participant’s principal office is located); (b) imposes, modifies, or deems applicable any reserve, special deposit or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with or for the account of, or other acquisitions of funds by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) liabilities of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable to loans by the obligations Bank in respect of any Lender or Participant under this Agreement; orthe transactions contemplated herein, (div) imposes upon any Lender or Participant impose on the Bank any other condition or expense requirement with respect to this Agreement, the Revolving Credit, the Term Note or the Loan Notes, loans or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, advances thereunder; and if the result of any of the foregoing is is (A) to increase directly or indirectly the cost toto the Bank of making, funding or maintaining all or any part of the Revolving Credit, the Term Note or advances or loans, (B) to reduce the income receivable byamount of principal, interest or impose other amount payable to the Bank hereunder, or (C) to require the Bank to make any expense (including loss of margin) upon payment or to forego any Lender interest or Participant with respect to this Agreementother sum payable hereunder, the Loan Notes, amount of which payment or foregone interest or other sum is calculated by reference to the making, maintenance or funding gross amount of any loan (orsum receivable or deemed received by the Bank from the Borrowers hereunder, then, and in each such case not otherwise provided for hereunder, the Borrowers will upon demand promptly following the Bank's notice pertaining to such matters accompanied by calculations thereof in reasonable detail, pay to the Bank such additional amounts as will be sufficient to compensate it for such additional cost, reduction, payment or foregone interest or other sum; provided that the foregoing provisions of this sentence shall not apply in the case of any capital adequacy additional cost, reduction, payment or similar requirementforegone interest or other sum resulting from any taxes charged upon or by reference to the overall net income, to have the effect of reducing the rate of return on such Lender’s profits or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART gains of the amount determined in good faith (using any reasonable averaging and attribution methods) by such Lender or Participant (which determination shall be conclusive absent manifest error) to be necessary to compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10Bank.

Appears in 1 contract

Sources: Credit Agreement (Bailey Corp)

Additional Costs. If In addition to, and not in limitation of the immediately preceding subsection, if any law or guideline or interpretation or applicationRegulatory Change shall: (ai) subjects any Lender impose, modify or Participant to any tax or changes the basis of taxation with respect to this Agreement or the Loan Notes, or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes on the overall net income or share capital of such Lender or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is located); (b) imposes, modifies, or deems deem applicable any reserve, special deposit deposit, liquidity or similar requirement (including any compulsory loan requirement, insurance charge or other assessment) against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with or for the account of, or other acquisitions of funds by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender (except any such reserve requirement reflected in the Adjusted LIBO Rate) or Participant, or Issuing Bank; (ii) otherwise applicable to the obligations of impose on any Lender or Participant under Issuing Bank or the London interbank market any other condition, cost or expense (other than Taxes) affecting this AgreementAgreement or Loans made by such Lender or any Letter of Credit or participation therein; or (iii) subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (d) imposes upon any Lender or Participant any other condition or expense with respect to this Agreementof the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or the Loan Notesother obligations, or its makingdeposits, maintenance reserves, other liabilities or funding of any loan or other credit or any commitment or security therefor, capital attributable thereto; and the result of any of the foregoing is shall be to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) by such Lender or Participant (which determination shall be conclusive absent manifest error) to be necessary to compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant such other Recipient of making, continuing, converting or maintaining any Loan (as directed by or of maintaining its obligation to make any such Loan) or to increase the Administrative Agent) within 10 Business Days from cost to such Lender, such Issuing Bank or such other Recipient of participating in, issuing or maintaining any Letter of Credit or to reduce the date amount of the Administrative Agent’s notice. A certificate any sum received or receivable by such Lender Lender, such Issuing Bank or Participant such other Recipient hereunder (whether of principal, interest or otherwise), then the Borrower will pay to such Lender, such Issuing Bank or such other Recipient, as to the case may be, such additional amount due or amounts as will compensate such Lender, such Issuing Bank or such other Recipient, as the case may be, for such additional costs incurred or reduction suffered (such increases in costs and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant reductions in this Section 8.01 are expressly limited by the provisions of Section 8.10amounts receivable being herein called “Additional Costs”).

Appears in 1 contract

Sources: Revolving Credit and Term Loan Agreement (Spirit Realty, L.P.)

Additional Costs. If any law or guideline or interpretation or application (a) subjects The Company shall pay directly to each Lender from time to time such amounts as such Lender may determine to be necessary to compensate such Lender for any costs that such Lender determines are attributable to its making or maintaining of any LIBOR Loans or its obligation to make any LIBOR Loans hereunder, or any reduction in any amount receivable by such Lender hereunder in respect of any of such Loans or such obligation (such increases in costs and reductions in amounts receivable being herein called "ADDITIONAL COSTS"), resulting from any Regulatory Change that: (i) shall subject any Lender (or Participant its Applicable Lending Office for any of such Loans) to any tax tax, duty or other charge in respect of such Loans or its Note or changes the basis of taxation with respect of any amounts payable to such Lender under this Agreement or the Loan Notes, or payments by DART its Note in respect of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes any of such Loans (except for taxes excluding any Taxes based on the overall net income or share capital in lieu of net income imposed on such Lender or Participant imposed by the jurisdiction in which the Lender’s or Participant’s such Lender has its principal office is locatedor its Applicable Lending Office);; or (bii) imposes, modifies, imposes or deems applicable modifies any reserve, special deposit or similar requirement against credits requirements (other than any thereof, including, without limitation, the Reserve Requirement, utilized in the determination of the Adjusted LIBO Rate or commitments LIBO Rate for such Loan) relating to extend any extensions of credit extended by, or other assets (funded or contingent) of, or any deposits with or for the account other liabilities of, such Lender (including, without limitation, any of such Loans or any deposits referred to in the definition of "LIBO Rate" in Section 1.1 hereof), or any commitment of such Lender (including, without limitation, the Commitments of such Lender hereunder); or (iii) imposes any other acquisitions condition affecting this Agreement or its Note (or any of funds bysuch extensions of credit or liabilities) or its Commitment. If any Lender requests compensation from the Company under this Section 5.1 (a), the Company may, by notice to such Lender (with a copy to the Administrative Agent), suspend the obligation of such Lender thereafter to make or Continue LIBOR Loans, or to Convert Prime Rate Loans into LIBOR Loans, until the Regulatory Change giving rise to such request ceases to be in effect (in which case the provisions of Section 5.4 hereof shall be applicable), PROVIDED that such suspension shall not affect the right of such Lender to receive the compensation so requested. (b) Without limiting the effect of the provisions of paragraph (a) of this Section 5.1, in the event that, by reason of any Regulatory Change, any Lender either (i) incurs Additional Costs based on or Participant;measured by the excess above a specified level of the amount of a category of deposits or other liabilities of such Lender that includes deposits by reference to which the interest rate on LIBOR Loans is determined as provided in this Agreement or a category of extensions of credit or other assets of such Lender that includes LIBOR Loans or (ii) becomes subject to restrictions on the amount of such a category of liabilities or assets that it may hold, then, if such Lender so elects by notice to the Company (with a copy to the Administrative Agent), the obligation of such Lender to make or Continue, or to Convert Prime Rate Loans into, LIBOR Loans hereunder shall be suspended until such Regulatory Change ceases to be in effect (in which case the provisions of Section 5.4 hereof shall be applicable). (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable to Without limiting the obligations of any Lender or Participant under this Agreement; or (d) imposes upon any Lender or Participant any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, and the result of any effect of the foregoing is to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense provisions of this Section 5.1 (including loss of margin) upon any Lender or Participant with respect to this Agreementbut without duplication), the Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, Company shall pay directly to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such each Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) by on request such amounts as such Lender or Participant (which determination shall be conclusive absent manifest error) may determine to be necessary to compensate such Lender (or, without duplication, the bank holding company of which such Lender is a subsidiary) for any costs that it determines are attributable to the maintenance by such Lender (or Participant any Applicable Lending Office or such bank holding company), pursuant to any law or regulation or any interpretation, directive or request (whether or not having the force of law and whether or not failure to comply therewith would be unlawful) of any court or governmental or monetary authority (i) following any Regulatory Change or (ii) implementing any risk-based capital guideline or other requirement (whether or not having the force of law and whether or not the failure to comply therewith would be unlawful) hereafter issued by any government or governmental or supervisory authority implementing at the national level the Basle Accord, of capital in respect of its Commitments or Loans (such compensation to include, without limitation, an amount equal to any reduction of the rate of return on assets or equity of such Lender (or any Applicable Lending Office or such bank holding company) to a level below that which such Lender (or any Applicable Lending Office or such bank holding company) could have achieved but for such increaselaw, reduction regulation, interpretation, directive or disposition. Such request). (d) Each Lender shall notify the Company of any event occurring after the date hereof entitling such Lender to compensation under paragraph (a) or (c) of this Section 5.1 as promptly as practicable, but in any event within 45 days, after such Lender obtains actual knowledge thereof; PROVIDED that if (i) any Lender fails to give such notice within 45 days after it obtains actual knowledge of such an event, such Lender shall, with respect to compensation payable pursuant to this Section 5.1 in respect of any costs resulting from such event, only be entitled to payment under this Section 5.1 for costs incurred from and after the date 45 days prior to the date that such Lender does give such notice and (ii) each Lender will designate a different Applicable Lending Office for the Loans of such Lender affected by such event if such designation will avoid the need for, or reduce the amount shall of, such compensation and will not, in the reasonable opinion of such Lender, be due and payable by DART disadvantageous to such Lender (including, without limitation, by reason of any economic, legal or Participant (as directed regulatory cost or disadvantage that such Lender may bear or suffer by reason of such designation). Each Lender will furnish to the Administrative Agent) within 10 Business Days from Company a certificate setting forth in reasonable detail the date basis and amount of the Administrative Agent’s notice. A certificate each request by such Lender for compensation under paragraph (a) or Participant as (c) of this Section 5.1. Determinations and allocations by any Lender for purposes of this Section 5.1 of the effect of any Regulatory Change pursuant to paragraph (a) or (b) of this Section 5.1, or of the amount due effect of capital maintained pursuant to paragraph (c) of this Section 5.1, on its costs or rate of return of maintaining Loans or its obligation to make Loans, or on amounts receivable by it in respect of Loans, and payable of the amounts required to compensate such Lender under this Section from time to time and the method of calculating such amount 5.1, shall be conclusive absent manifest error conclusive, PROVIDED that such determinations and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 allocations are expressly limited by the provisions of Section 8.10made on a reasonable basis.

Appears in 1 contract

Sources: Credit Agreement (Genzyme Corp)

Additional Costs. If any law or guideline or interpretation or applicationRegulatory Change shall: (ai) subjects impose, modify or deem applicable any Lender reserve (including pursuant to regulations issued from time to time by the FRB for determining the maximum reserve requirement (including any emergency, special, supplemental or Participant to any tax or changes the basis of taxation other marginal reserve requirement) with respect to this Agreement or eurocurrency funding (currently referred to as “Eurocurrency liabilities” in Regulation D of the Loan NotesFRB, or payments by DART of principal, interest, fees or other amounts due as amended and in effect from DART hereunder or under the Loan Notes (except for taxes on the overall net income or share capital of such Lender or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is locatedtime to time); (b) imposes, modifies, or deems applicable any reserve), special deposit deposit, compulsory loan, insurance charge or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with or for the account of, or advances, loans or other acquisitions of funds credit extended or participated in by, any Lender or ParticipantLender; (cii) imposessubject any Recipient to any Taxes (other than (A) Indemnified Taxes, modifies(B) Taxes described in clauses (b) through (d) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) ofother obligations, or credits its deposits, reserves, other liabilities or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreementcapital attributable thereto; or (diii) imposes upon impose on any Lender or Participant any other condition condition, cost or expense with respect to (other than Taxes) affecting this Agreement, Agreement or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, Loans made by such Lender; and the result of any of the foregoing is shall be to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such Lender or Participant deems such other Recipient of making, converting to, continuing or maintaining any Loan or of maintaining its obligation to be material make any such Loan, or to it, then increase the cost to such Lender or Participant shall from time such other Recipient or to time cause the Administrative Agent to notify DART of reduce the amount determined in good faith (using of any reasonable averaging and attribution methods) sum received or receivable by such Lender or Participant other Recipient hereunder (which determination shall be conclusive absent manifest errorwhether of principal, interest or any other amount) then, upon request of such Lender or other Recipient, the Borrower will pay to be necessary to such Lender or other Recipient, as the case may be, such additional amount or amounts as will compensate such Lender or Participant other Recipient, as the case may be, for such increase, additional costs incurred or reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10suffered.

Appears in 1 contract

Sources: Credit Agreement (Office Properties Income Trust)

Additional Costs. If In case any law law, regulation, treaty or official directive or the interpretation or application thereof by any court or any governmental authority charged with the administration thereof, in any such case enacted or made effective after the date hereof, or the compliance with any guideline or interpretation request of any central bank or applicationother governmental authority (whether or not having the force of law) made effective after the date hereof: (a) subjects any Lender or Participant Bank to any tax or changes the basis of taxation with respect to this Agreement payments of principal or the Loan Notes, interest or payments by DART of principal, interest, fees or any other amounts due from DART payable hereunder by Borrower or under otherwise with respect to the Loan Notes transactions contemplated hereby (except for taxes on the overall net income or share capital of such Lender or Participant Bank imposed by the jurisdiction in which the Lender’s United States of America or Participant’s principal office is locatedany political subdivision thereof); (b) imposes, modifies, modifies or deems applicable any deposit insurance, reserve, special deposit or similar requirement against credits or commitments to extend credit extended assets held by, assets (funded or contingent) of, deposits with in or for the account of, or other acquisitions of funds loans by, any Lender or Participant;Bank; or (c) imposes, modifies, or deems applicable imposes upon any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments Bank any other condition with respect to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant its performance under this Agreement; or (d) imposes upon any Lender or Participant any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, and the result of any of the foregoing is to increase directly or indirectly the cost toto such Bank, reduce the income receivable by, by such Bank or impose any expense (including loss of margin) upon any Lender or Participant such Bank with respect to this Agreementany Advances, such Bank shall notify Borrower thereof. Borrower agrees to pay to such Bank the Loan Notesamount of such increase in cost, reduction in income or the makingadditional expense as and when such cost, maintenance reduction or funding expense is incurred or determined, upon presentation by such Bank of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART a statement of the amount determined and setting forth such Bank's calculation thereof, all in good faith (using any reasonable averaging and attribution methods) by such Lender or Participant (detail, which determination statement shall be conclusive deemed true and correct absent manifest error) to be necessary to compensate such Lender or Participant for such increase, reduction or disposition. Such amount No Bank shall be due and payable by DART entitled to any compensation pursuant to this SECTION 2.5 in respect of any such event (i) for any period of time in excess of ninety (90) days prior to such Lender notice or Participant (as directed by the Administrative Agentii) for any period of time prior to such notice if such Bank shall not have given such notice within 10 Business Days from ninety (90) days of the date of the Administrative Agent’s notice. A certificate by on which such Lender event shall have been enacted, promulgated, adopted or Participant as to the amount due and payable under this Section from time to time and the method of calculating issued in definitive or final form unless such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10event is retroactive.

Appears in 1 contract

Sources: Loan and Security Agreement (Tegal Corp /De/)

Additional Costs. If any law or guideline or interpretation or application (a) Subject to SECTION 12.8, the Company shall pay to the Agent, on demand, for the account of such Bank, from time to time such amounts as any Bank may reasonably determine to be necessary to compensate it for any costs incurred by such Bank which such Bank reasonably determines are attributable to its making or maintaining any Eurodollar Loan hereunder or its obligation to make or maintain any such Loan hereunder, or any reduction in any amount receivable by such Bank hereunder in respect of any of such Loans or such obligation (such increases in costs and reductions in amounts receivable being herein called "ADDITIONAL COSTS"), in each case resulting from any Regulatory Change which: (1) subjects any Lender such Bank (or Participant makes it apparent that such Bank is subject) to any tax (including any United States interest equalization tax), levy, impost, duty, charge or fee (collectively, "TAXES"), or any deduction or withholding for any Taxes on or from the payment due under any Eurodollar Loan or other amounts due hereunder, other than income and franchise taxes of the jurisdiction (or any subdivision thereof) in which such Bank has an office or its Applicable Lending Office; or (2) changes the basis of taxation with respect of any amounts payable to such Bank under this Agreement or the Loan Notesits Note in respect of any of such Loans, other than changes which affect taxes measured by or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes imposed on the overall net income or share capital franchise taxes of such Lender Bank or Participant imposed of its Applicable Lending Office for any of such Loans by the jurisdiction (or any subdivision thereof) in which the Lender’s such Bank has an office or Participant’s principal office is located);such Applicable Lending Office; or (b3) imposes, modifies, imposes or modifies or increases or deems applicable any Statutory Reserves or any other reserve, special deposit or similar requirement against credits (including any such requirement imposed by the Board) relating to any extensions of credit or commitments to extend credit extended by, other assets (funded or contingent) of, or any deposits with or for the account other liabilities of, such Bank or loans made by such Bank, or against any other funds, obligations or other acquisitions of funds by, any Lender property owned or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreementheld by such Bank; or (d4) imposes upon any Lender or Participant any other condition affecting this Agreement (or expense any of such extensions of credit or liabilities). Each Bank will notify the Company through the Agent of any event occurring after the date of this Agreement which will entitle such Bank to compensation pursuant to this SECTION 6.1 as promptly as practicable after it obtains knowledge thereof and determines to request such compensation, and (if so requested by the Company through the Agent) will designate a different available Applicable Lending Office for the Eurodollar Loans of such Bank or take such other action as the Company may reasonably request if such designation or action is consistent with the internal policy of such Bank and legal and regulatory restrictions, can be undertaken at no additional cost, will avoid the need for, or reduce the amount of, such compensation and will not, in the sole opinion of such Bank, be disadvantageous to such Bank (PROVIDED that such Bank shall have no obligation so to designate an Applicable Lending Office located in the United States of America). Each Bank will furnish the Company with a statement setting forth the basis and amount of each request by such Bank for compensation under this SECTION 6.1, with each such statement to cover amounts accruing under this SECTION 6.1 with respect to this Agreement, or a period beginning not earlier than 120 days from the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, date thereof and the result of any of the foregoing is to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods. (b) Without limiting the effect of the foregoing provisions of this SECTION 6.1, in the event that, by reason of any Regulatory Change, any Bank either (1) incurs Additional Costs based on or measured by the excess above a specified level of the amount of a category of deposits or other liabilities of such Lender Bank which includes deposits by reference to which the interest rate on Eurodollar Loans is determined as provided in this Agreement or Participant a category of extensions of credit or other assets of such Bank which includes Eurodollar Loans or (2) becomes subject to restrictions on the amount of such a category of liabilities or assets which determination it may hold, then, if such Bank so elects by notice to the Company (with a copy to the Agent), the obligation of such Bank to make Eurodollar Loans hereunder shall be conclusive suspended until the date such Regulatory Change ceases to be in effect (in which case the provisions of SECTION 6.4 shall be applicable). (c) Determinations and allocations by any Bank for purposes of this SECTION 6.1 of the effect of any Regulatory Change on its costs of maintaining its obligations to make Loans or of making or maintaining Eurodollar Loans or on amounts receivable by it in respect of Eurodollar Loans, and of the additional amounts required to compensate such Bank in respect of any Additional Costs, shall be conclusive, absent manifest error, and may be made using any reasonable averaging and attribution methods. (d) In the event any Bank shall seek compensation pursuant to this SECTION 6.1, the Company may give notice to such Bank (with copies to the Agent) that it wishes to seek one or more Eligible Assignees (which may be one or more of the Banks) to be necessary purchase and assume the Commitment, Loans, Note, Letter of Credit Liabilities and interests in this Agreement of such Bank. Each Bank requesting compensation pursuant to compensate this SECTION 6.1 agrees to sell its Commitment, Loans, Note, Letter of Credit Liabilities and interests in this Agreement pursuant to SECTION 12.6 (without recourse, representation or warranty except as provided in SECTION 12.6) to any such Lender or Participant Eligible Assignee for an amount equal to (x) the sum of the outstanding unpaid principal of and accrued interest on such increaseLoans, reduction or disposition. Such Note and Letter of Credit Advances, plus (y) in the case of the Issuer, Cover for the face amount shall be due of all undrawn Letter of Credit Liabilities plus (z) all other fees and payable amounts (including any compensation claimed by DART such Bank under this SECTION 6.1) owing to such Lender or Participant (as directed by Bank under the Administrative Agent) within 10 Business Days from Credit Documents, calculated, in each case, to the date on which such Commitment, Loans, Note, Letter of the Administrative Agent’s notice. A certificate by Credit Liabilities and interests are purchased, whereupon such Lender Bank shall have no further Commitment or Participant as other obligation to the amount due and payable Company under this Section from time Agreement or any other Credit Document in respect of matters arising after the consummation of such purchase, but shall continue to time be entitled to the benefit of, and subject to any obligations incurred by it under, this Agreement and the method other Credit Documents in respect of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with matters occurring during the notice described above. The rights of any Participant in time it was a Bank under this Section 8.01 are expressly limited by the provisions of Section 8.10Agreement.

Appears in 1 contract

Sources: Credit Agreement (Santa Fe Energy Resources Inc)

Additional Costs. If any law or guideline or interpretation or application (a) subjects In the event that any applicable law, treaty, rule or regulation (whether domestic or foreign) now or hereafter in effect and whether or not presently applicable to any Lender or Participant to the Administrative Agent, or any tax interpretation or changes administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender or the Administrative Agent with any guideline, request or directive of any such authority (whether or not having the force of law), shall (a) affect the basis of taxation with respect of payments to any Lender or the Administrative Agent of any amounts payable by the Borrower under this Agreement or the Loan Notes, or payments by DART of principal, interest, fees or (other amounts due from DART hereunder or under the Loan Notes (except for than taxes imposed on the overall net income or share capital of such the Lender or Participant imposed the Administrative Agent, by the jurisdiction jurisdiction, or by any political subdivision or taxing authority of any such jurisdiction, in which any Lender or the Lender’s Administrative Agent, as the case may be, has its principal office), or Participant’s principal office is located); (b) imposesshall impose, modifies, modify or deems deem applicable any reserve, special deposit or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with or for the account of, or other acquisitions of funds bycredit extended by any Lender, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; or (d) imposes upon any Lender or Participant shall impose any other condition or expense with respect to this Agreement, the Commitments, the Notes or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security thereforLoans, and the result of any of the foregoing is to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon to any Lender or Participant with respect the Administrative Agent, as the case may be, of making, funding or maintaining any Eurodollar Rate Loan or to this Agreementreduce the amount of any sum receivable by any Lender thereon, then the Loan Notes, Borrower shall pay to such Lender or the makingAdministrative Agent, maintenance as the case may be, from time to time, upon request by such Lender (with a copy of such request to be provided to the Administrative Agent) or funding of any loan (orthe Administrative Agent, additional reasonable amounts sufficient to compensate such Lender or the Administrative Agent, as the case may be, for such increased cost or reduced sum receivable to the extent, in the case of any capital adequacy Eurodollar Rate Loan, such Lender is not compensated therefor in the computation of the interest rate applicable to such Eurodollar Rate Loan. A statement as to the amount of such increased cost or similar requirementreduced sum receivable, prepared in good faith and in reasonable detail by such Lender or the Administrative Agent, as the case may be, and submitted by such Lender or the Administrative Agent, as the case may be, to have the Borrower, shall be conclusive and binding for all purposes absent manifest error in computation. (b) In the event that any applicable law, treaty, rule or regulation (whether domestic or foreign) now or hereafter in effect and whether or not presently applicable to any Lender or the Administrative Agent, or any interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender or the Administrative Agent with any guideline, request or directive of any such authority (whether or not having the force of law), including any risk-based capital guidelines, affects or would affect the amount of capital required or expected to be maintained by such Lender or the Administrative Agent (or any corporation controlling such Lender or the Administrative Agent), including any change in capital required to be maintained with respect to commitments for credit of less than 365 days in duration, and such Lender or the Administrative Agent, as the case may be, determines that the amount of such capital is increased by or based upon the existence of such Lender's or the Administrative Agent's obligations hereunder and such increase has the effect of reducing the rate of return on such Lender’s 's or Participant’s capital, the Administrative Agent's (or such controlling corporation's) capital as a consequence of such obligations hereunder to a level below that which such Lender or the Administrative Agent (or such controlling corporation) could have achieved but for such circumstances (taking into consideration such Lender’s or Participant’s its policies with respect to capital adequacy) by an amount which deemed by such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of be material, then the amount determined in good faith (using any reasonable averaging and attribution methods) Borrower shall pay to such Lender or the Administrative Agent, as the case may be, from time to time, upon request by such Lender or Participant (which determination shall be conclusive absent manifest error) with a copy of such request to be necessary provided to the Administrative Agent) or the Administrative Agent, additional amounts sufficient to compensate such Lender or Participant the Administrative Agent (or such controlling corporation) for such increase, reduction or disposition. Such any increase in the amount shall be due of capital and payable by DART to reduced rate of return which such Lender or Participant (as directed by the Administrative Agent reasonably determines to be allocable to the existence of such Lender's or the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice's obligations hereunder. A certificate statement as to the amount of such compensation, prepared in good faith and in reasonable detail by such Lender or Participant the Administrative Agent, as the case may be, and submitted by such Lender or the Administrative Agent to the amount due and payable under this Section from time to time and the method of calculating such amount Borrower, shall be conclusive and binding for all purposes absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10computation.

Appears in 1 contract

Sources: Short Term Credit Agreement (National Auto Credit Inc /De)

Additional Costs. If any law or guideline or interpretation or application (a) subjects If the adoption of, or any change in, in each case after the date hereof, any Requirement of Law or in the interpretation or application thereof or compliance by any Lender with any request or directive (whether or not having the force of law) from any central bank or other Governmental Authority or the NAIC made subsequent to the date hereof: (i) shall subject any Lender or Participant L/C Lender to any additional tax of any kind whatsoever with respect to this Agreement, any Note, any Letter of Credit or changes any Lender's participation therein, any L/C Document or any Loan made by such Lender or change the basis of taxation with of payments to such Lender in respect to this Agreement or the Loan Notes, or payments thereof by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes any Governmental Authority (except for taxes covered by or expressly excluded from coverage by Section 5.06, changes in the rate of tax on the overall net income or share capital net profits of such Lender or Participant its Applicable Lending Office, or any affiliate thereof or franchise taxes or similar taxes imposed with respect to or in lieu of its net income or net profits by the jurisdiction in which the Lender’s or Participant’s principal office is locatedany Governmental Authority); (bii) imposesshall impose, modifies, modify or deems hold applicable any reserve, special deposit deposit, compulsory loan or similar requirement against credits or commitments to extend credit extended assets held by, assets (funded deposits or contingent) of, deposits with other liabilities in or for the account of, advances, loans or other acquisitions extensions of credit by, or any other acquisition of funds by, any office of such Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any L/C Lender or Participant, or (ii) which is not otherwise applicable to included in the obligations determination of any Lender or Participant under this Agreementthe LIBO Rate hereunder; or (diii) imposes upon any shall impose on such Lender or Participant L/C Lender any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, (excluding taxes); and the result of any of the foregoing is to increase directly or indirectly the cost toto such Lender or L/C Lender, by an amount which such Lender or L/C Lender deems to be material (and it is the policy of such Lender or L/C Lender to seek reimbursement from a borrower for such amount), of making, converting into, continuing or maintaining LIBOR Loans or issuing or participating in Letters of Credit or to reduce any amount receivable hereunder in respect thereof then, in any such case, Borrower shall, within 10 days of written demand therefor, pay such Lender or L/C Lender any additional amounts necessary to compensate such Lender or L/C Lender on a net after-tax basis (taking into account any additional tax costs or tax benefits) for such increased cost or reduced amount receivable; PROVIDED, HOWEVER, that a Lender claiming additional amounts under this Section 5.01(a) agrees to use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions) to designate a different Applicable Lending Office if the making of such a designation would avoid the need for, or in the reasonable opinion of such Lender or L/C Lender materially reduce the income receivable byamount of, or impose such increased cost that may thereafter accrue and would not, in the sole judgment of such Lender, be otherwise disadvantageous to such Lender. Without limiting the survival of any expense other covenant hereunder, this Section 5.01 shall survive the termination of this Agreement and the payment of the Notes and all other Obligations payable hereunder. (including loss of marginb) upon In the event that any Lender or Participant L/C Lender shall have determined that the adoption after the date hereof of any law, rule, regulation or guideline regarding capital adequacy (or any change after the date hereof therein or in the interpretation or application thereof) or compliance by any Lender or L/C Lender or any corporation controlling such Lender or L/C Lender with respect any request or directive regarding capital adequacy (whether or not having the force of law) from any central bank or other Governmental Authority or the NAIC, in each case, made subsequent to this Agreementthe date hereof including, without limitation, the Loan Notes, or issuance after the making, maintenance or funding date hereof of any loan (orfinal rule, in the case of any capital adequacy regulation or similar requirementguideline, to does or shall have the effect of reducing the rate of return on such Lender’s 's or Participant’s capitalL/C Lender's or such corporation's capital as a consequence of its obligations hereunder or under any Letter of Credit to a level below that which such Lender or L/C Lender or such corporation could have achieved but for such adoption, change or compliance (taking into consideration such Lender’s 's or Participant’s L/C Lender's or such corporation's policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) deemed by such Lender or Participant (which determination shall be conclusive absent manifest error) L/C Lender to be necessary material (and it is the policy of such Lender or L/C Lender to seek reimbursement from a borrower for such amount), then from time to time, after submission by such Lender or L/C Lender to Borrower (with a copy to Administrative Agent) of a written request therefor, Borrower shall, within 10 days of such written request, pay to such Lender or L/C Lender such additional amount or amounts as will compensate such Lender or Participant L/C Lender on a net after-tax basis (taking into account any additional tax costs or tax benefits) for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10reduction.

Appears in 1 contract

Sources: Credit Agreement (Quest Diagnostics Inc)

Additional Costs. If Anything herein to the contrary notwithstanding, if any changes in present or future applicable law (which term applicable law , as used in this Section 6.01, includes statutes and rules and regulations thereunder and interpretations thereof by any competent court or guideline by any governmental or other regulatory body or official charged with the administration or the interpretation thereof and requests, directives, instructions and notices at any time or application (a) subjects from time to time heretofore or hereafter made upon or otherwise issued to any Lender by any central bank or Participant other fiscal, monetary or other authority), including without limitation any change according to a prescribed schedule of increasing requirements, whether or not known or in effect as of the date hereof, shall (i) subject any Lender to any tax tax, levy, impost, duty, charge, fee, deduction or changes the basis withholding of taxation any nature with respect to this Agreement or the Loan Notespayment to such Lender of any amounts due to it hereunder, or (ii) materially change the basis of taxation of payments by DART to any Lender of principal, interest, fees or any other amounts due from DART hereunder or under the Loan Notes (except for taxes on the overall net income or share capital of payable to such Lender or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is located); (b) imposes, modifieshereunder, or deems (iii) impose or increase or render applicable any reserve, special or supplemental deposit or reserve or similar requirement requirements or assessment against credits or commitments to extend credit extended assets held by, assets (funded or contingent) of, deposits with in or for the account of, or other acquisitions of funds by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) liabilities of, or credits or commitments to extend credit extended by, loans by an office of any Lender or Participantin respect of the transactions contemplated herein, or (iiiv) otherwise applicable to the obligations of impose on any Lender or Participant under this Agreement; or (d) imposes upon any Lender or Participant any other condition or expense requirement with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, and the result of any of the foregoing is cost to increase directly or indirectly the cost to, (A) to reduce the income receivable byany amount payable to such Lender hereunder, or impose (B) to require such Lender to make any expense (including loss of margin) upon payment or to forego any Lender interest or Participant with respect to this Agreementother sum payable hereunder, the Loan Notes, amount of which payment or foregone interest or other sum is calculated by reference to the making, maintenance or funding gross amount of any loan (orsum receivable or deemed received by such Lender from the Company hereunder, then, and in each such case not otherwise provided for hereunder, the Company will upon demand made by such Lender promptly following such Lender s receipt of notice pertaining to such matters accompanied by calculations thereof in reasonable detail, pay to the Lender such additional amounts as will be sufficient to compensate it for such additional cost, reduction, payment or foregone interest or other sum; provided that the foregoing provisions of this sentence shall not apply in the case of any capital adequacy additional cost, reduction, payment or similar requirementforegone interest or other sum resulting from any taxes charged upon or by reference to the overall net income, to have the effect profits or gains of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) by such Lender or Participant (which determination shall be conclusive absent manifest error) to be necessary to compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10.

Appears in 1 contract

Sources: Credit Agreement (Concurrent Computer Corp/De)

Additional Costs. If In the event that on or after the date hereof any law applicable law, treaty or guideline governmental regulation is adopted, or any change therein or in the interpretation or applicationapplication thereof becomes effective, or compliance by any Agent, the Issuing Bank, any Lender or any such participant with any request or directive (whether or not having the force of law) from any central bank or other financial, monetary or other authority, shall: 92 (a) subjects any subject such Agent, the Issuing Bank, such Lender or Participant participant to any tax of any kind whatsoever with respect to this Financing Agreement or changes change the basis of taxation with respect of payments to this Agreement such Agent, the Issuing Bank, such Lender or the Loan Notes, or payments by DART participant of principal, interestfees, fees interest or any other amounts due from DART amount payable hereunder or under the any other Loan Notes Documents (except for taxes changes in the rate of tax on the overall net income or share capital gross receipts of such Agent, the Issuing Bank, such Lender or Participant imposed participant by the federal government or the jurisdiction in which the Lender’s or Participant’s it maintains its principal office is locatedoffice); (b) imposesimpose, modifies, modify or deems hold applicable any reserve, special deposit deposit, assessment or similar requirement against credits or commitments to extend credit extended assets held by, assets (funded or contingent) of, deposits with in or for the account of, advances or loans by, or other acquisitions of funds bycredit extended by such Agent, any the Issuing Bank, such Lender or Participant;participant by reason of or in respect to this Financing Agreement and the Loan Documents, including (without limitation) pursuant to Regulation D of the Board of Governors of the Federal Reserve System; or (c) imposesimpose on such Agent, modifiesthe Issuing Bank, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any such Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; or (d) imposes upon any Lender or Participant participant any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit Financing Agreement or any commitment or security thereforother Loan Document, and the result of any of the foregoing is to increase directly or indirectly the cost toto such Agent, reduce the income receivable byIssuing Bank, or impose any expense (including loss of margin) upon any such Lender or Participant with respect participant of making, renewing or maintaining its Loans or interests therein or any such other extension of credit provided pursuant to this Agreement, the Financing Agreement or any other Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) Document by an amount which that such Agent, the Issuing Bank, such Lender or Participant participant deems to be material in the exercise of its reasonable business judgment or to itreduce the amount of any payment (whether of principal, then interest or otherwise) in respect of any of such Loans, interests or other extensions of credit by an amount that such Agent, the Issuing Bank, such Lender or Participant participant (or controlling corporation)) deems to be material in the exercise of its reasonable business judgment, then, in any such case the Companies shall from time to time cause pay such Agent, the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) by Issuing Bank, such Lender or Participant participant, within five (which determination 5) days following its demand, such additional cost or such reduction, as the case may be. Such Agent, the Issuing Bank, or such Lender or, through the relevant Lender, such participant shall certify the amount of such additional cost or reduced amount to the Companies and the calculation thereof and such certification shall be conclusive upon the Obligors absent manifest error) . Notwithstanding anything in this paragraph to be necessary to compensate the contrary, in the event such Agent, the Issuing Bank, such Lender or Participant for participant has exercised its rights pursuant to this paragraph, and subsequent thereto determines that the additional amounts paid by the Companies in whole or in part exceed the amount which such increaseAgent, reduction or disposition. Such amount shall be due and payable by DART to the Issuing Bank, such Lender or Participant (as directed by participant actually required pursuant hereto, the Administrative Agent) within 10 Business Days from excess, if any, shall be returned to the date of the Administrative Agent’s notice. A certificate Companies by such Agent, the Issuing Bank, such Lender or Participant as to or, through the amount due and payable under this Section from time to time and the method of calculating relevant Lender, such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10participant.

Appears in 1 contract

Sources: Financing Agreement (Harvard Industries Inc)

Additional Costs. If any law or guideline or interpretation or applicationRegulatory Change shall: (ai) subjects impose, modify or deem applicable any Lender reserve (including pursuant to regulations issued from time to time by the FRB for determining the maximum reserve requirement (including any emergency, special, supplemental or Participant to any tax or changes the basis of taxation other marginal reserve requirement) with respect to this Agreement or eurocurrency funding (currently referred to as “Eurocurrency liabilities” in Regulation D of the Loan NotesFRB, or payments by DART of principal, interest, fees or other amounts due as amended and in effect from DART hereunder or under the Loan Notes (except for taxes on the overall net income or share capital of such Lender or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is locatedtime to time); (b) imposes, modifies, or deems applicable any reserve), special deposit deposit, compulsory loan, insurance charge or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with or for the account of, or advances, loans or other acquisitions of funds credit extended or participated in by, any Lender or ParticipantLender; (cii) imposessubject any Recipient to any Taxes (other than (A) Indemnified Taxes, modifies(B) Taxes described in Clauses (b) through (d) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) ofother obligations, or credits its deposits, reserves, other liabilities or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreementcapital attributable thereto; or (diii) imposes upon impose on any Lender or Participant any other condition condition, cost or expense with respect to (other than Taxes) affecting this Agreement, Agreement or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, Loans made by such Lender; and the result of any of the foregoing is shall be to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such Lender or Participant deems such other Recipient of making, converting to, continuing or maintaining any Loan or of maintaining its obligation to be material make any such Loan, or to it, then increase the cost to such Lender or Participant shall from time such other Recipient or to time cause the Administrative Agent to notify DART of reduce the amount determined in good faith (using of any reasonable averaging and attribution methods) sum received or receivable by such Lender or Participant other Recipient hereunder (which determination shall be conclusive absent manifest errorwhether of principal, interest or any other amount) then, upon request of such Lender or other Recipient, the Borrower will pay to be necessary to such Lender or other Recipient, as the case may be, such additional amount or amounts as will compensate such Lender or Participant other Recipient, as the case may be, for such increase, additional costs incurred or reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10suffered.

Appears in 1 contract

Sources: Secured Debtor in Possession Term Loan Credit Agreement (Office Properties Income Trust)

Additional Costs. If any law or guideline or interpretation or application (a) subjects If, as a result of any Regulatory Change: (i) any Lender or Participant any Issuing Lender shall be subject to any tax of any kind whatsoever with respect to amounts payable to it under this Agreement or changes any Eurodollar Loan made by it, or the basis of taxation with of payments to such Lender or such Issuing Lender in respect to this Agreement or thereof is changed (except, in each case, for Non-Excluded Taxes covered by Section 2.14, taxes described in clauses (x) through (z) of Section 2.14(a), net income taxes, franchise taxes, and branch profits taxes, and changes in the Loan Notes, or payments by DART rate of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes tax on the overall net income or share capital of such Lender or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is located);; or (bii) imposes, modifies, or deems applicable any reserve, special deposit deposit, capital adequacy, liquidity, compulsory loan or similar requirement against credits requirements relating to any extensions of credit or commitments to extend credit extended by, other assets (funded or contingent) of, or any deposits with or for the account other liabilities of, or other acquisitions of funds by, any Lender or Participant; (c) imposesany Issuing Lender, modifies, which requirements are generally applicable to extensions of credit or deems applicable any capital adequacy or similar requirement (i) against other assets (funded or contingent) of, or credits deposits with or commitments to extend credit extended byother liabilities of, such Lender or such Issuing Lender, are imposed, modified, or deemed applicable; or (iii) any other condition affecting this Agreement, any Eurodollar Loans or any Letter of Credit or participation therein is imposed on any Lender or Participantany Issuing Lender after the date hereof, or (ii) otherwise which condition is generally applicable to loans made by such Lender or such Issuing Lender; and any Lender or any Issuing Lender, as the obligations case may be, determines that, by reason thereof, the cost to such Lender or Issuing Lender (or a holding company of any Lender or Participant under this Agreement; or (dIssuing Lender) imposes upon of making or maintaining its Commitment or any Lender or Participant any other condition or expense with respect of its Eurodollar Loans to this Agreementthe Borrower, or the Loan Notescost (including reduced rate of return) to such Lender or Issuing Lender of participating in, issuing or its makingmaintaining any Letter of Credit, maintenance or funding of any loan or other credit as the case may be, is increased or any commitment amount receivable by such Lender or security therefor, and the result Issuing Lender hereunder in respect of any of the foregoing such Loans or Letters of Credit is to increase directly reduced or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or ParticipantIssuing Lender’s capital, (or holding company’s) capital is reduced (taking into consideration such Lender’s or Participantholding company’s policies with respect to capital adequacy) adequacy and liquidity), in each case by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) reasonably deemed by such Lender or Participant (which determination shall be conclusive absent manifest error) Issuing Lender to be necessary material (such increases in cost and reductions in amounts receivable being herein called “Additional Costs”), then the Borrower shall pay to such Lender or Issuing Lender, as the case may be, upon its request the additional amount or amounts as will compensate such Lender or Issuing Lender, as the case may be, for such Additional Costs within 15 Business Days after written notice of such Additional Costs is received by the Borrower; provided, however, that if all or any such Additional Costs would not have been payable or incurred but for such Lender’s or Issuing Lender’s voluntary decision to designate a new Lending Office, the Borrower shall have no obligation under this Section 2.13 to compensate such Lender or Participant Issuing Lender for such increaseamount relating to such Lender’s or Issuing Lender’s decision; provided, reduction or disposition. Such amount further, that the Borrower shall not be due and payable by DART required to make any payments to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from Issuing Lender for Additional Costs incurred more than 60 days prior to the date of the Administrative Agent’s notice. A certificate by that such Lender or Participant Issuing Lender, as the case may be, notifies the Borrower of such Lender’s or Issuing Lender’s intention to claim compensation therefor. (b) Without limiting the amount due and payable under this Section from time to time and the method effect of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.102.13(a) (but without duplication thereof), the Borrower will pay to any Lender, within 15 Business Days of receipt by the Borrower of notice from such Lender, for each day such Lender is required to maintain reserves against “Eurocurrency liabilities” under Regulation D of the Board as in effect on the date of this Agreement, an additional amount determined by such Lender equal to the product of the following: (i) the principal amount of the Eurodollar Loan; (ii) the remainder of (x) a fraction the numerator of which is the Eurodollar Rate for such Eurodollar Loan and the denominator of which is one minus the rate at which such reserve requirements are imposed on such Lender on such day minus (y) such numerator; and (iii) 1/360. Such Lender shall request payment under this Section 2.13(b) by giving notice to the Borrower as of the last day of each Interest Period for each Eurodollar Loan (and, if such Interest Period exceeds three months’ duration, also as of three months, or a whole multiple thereof, after the first day of such Interest Period). Such notice shall specify the basis for requesting such compensation and the method for determining the amount thereof. Such Lender shall provide any evidence of such requirement to maintain reserves as the Borrower may reasonably request. (c) Notwithstanding anything herein to the contrary, (i) all requests, rules, guidelines, requirements and directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or by United States or foreign regulatory authorities, in each case pursuant to Basel III, and (ii) the D▇▇▇-F▇▇▇▇ ▇▇▇▇ Street Reform and Consumer Protection Act and all requests, rules, guidelines, requirements and directives thereunder or issued in connection therewith or in implementation thereof, shall in each case be deemed to be a Regulatory Change, regardless of the date enacted, adopted, issued or implemented. (d) Each Lender will notify the Borrower and the Administrative Agent of any Regulatory Change occurring after the date of this Agreement which will entitle such Lender or Issuing Lender, as the case may be, to compensation pursuant to Section 2.13(a) or (c) as promptly as practicable after it obtains knowledge thereof and determines to request such compensation. If such Lender or Issuing Lender requests compensation under Section 2.13(a) or (c), the Borrower may, by notice to such Lender or Issuing Lender, as applicable, require that such Lender or Issuing Lender forward to the Borrower a statement setting forth the basis for requesting such compensation and the method for determining the amount thereof. Determinations by any Lender or Issuing Lender for purposes of this Section 2.13 of the effect of any Regulatory Change shall be conclusive, provided that such determinations are made absent manifest error.

Appears in 1 contract

Sources: Credit Agreement (Edison International)

Additional Costs. If In case any law law, regulation, treaty or official directive or the interpretation or application thereof by any court or any governmental authority charged with the administration thereof or the compliance with any guideline or interpretation request of any central bank or applicationother governmental authority (whether or not having the force of law): (a) subjects Servicing Agent or any Lender or Participant to any tax or changes the basis of taxation with respect to this Agreement payments of principal or the Loan Notes, interest or payments by DART of principal, interest, fees or any other amounts due from DART payable hereunder by Borrower or under otherwise with respect to the Loan Notes transactions contemplated hereby (except for taxes on the overall net income of Servicing Agent or share capital of such Lender or Participant imposed by the jurisdiction in which the Lender’s United States of America or Participant’s principal office is locatedany political subdivision thereof); (b) imposes, modifies, modifies or deems applicable any deposit insurance, reserve, special deposit or similar requirement against credits or commitments to extend credit extended assets held by, assets (funded or contingent) of, deposits with in or for the account of, or other acquisitions of funds loans by, Servicing Agent or any Lender or Participant;Lender; or (c) imposes, modifies, imposes upon Servicing Agent or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable any other condition with respect to the obligations of any Lender or Participant its performance under this Agreement; or (d) imposes upon any Lender or Participant any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, and the result of any of the foregoing is to increase directly or indirectly the cost toto Servicing Agent or such Lender, reduce the income receivable by, by Servicing Agent or such Lender or impose any expense (including loss of margin) upon any Servicing Agent or such Lender or Participant with respect to this Agreementthe Obligations, the Loan Notes, Servicing Agent or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such Lender shall notify Borrower thereof. Borrower agrees to pay to Servicing Agent or Participant deems to be material to it, then such Lender the amount of such increase in cost, reduction in income or Participant shall from time to time cause the Administrative additional expense as and when such cost, reduction or expense is incurred or determined, upon presentation by Servicing Agent to notify DART or such Lender of a statement of the amount determined and setting forth Servicing Agent's or such Lender's calculation thereof, all in good faith reasonable detail, provided, however, that notwithstanding anything herein to the contrary, (using a) Borrower shall not be the only borrower of such Lender that is singled out from a group of similarly situated borrowers of such Lender subject to this type of provision and requested to pay such amounts and (b) Borrower shall not be liable for any reasonable averaging and attribution methods) such costs incurred by such Lender or Participant (which determination shall be conclusive absent manifest error) prior to be necessary to compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10given hereunder.

Appears in 1 contract

Sources: Loan and Security Agreement (Vtel Corp)

Additional Costs. If any law or guideline or interpretation or application (a) subjects If the adoption of any Applicable Law, or any change in any Applicable Law, or any change in the interpretation or administration thereof by any Governmental Authority charged with the interpretation or administration thereof, or compliance by any Lender (or Participant to its Applicable Lending Office) with any tax request or changes directive (whether or not having the basis force of taxation with respect to this Agreement law) of any Governmental Authority (in each case above, at any time on or after the Loan Notesdate hereof), shall impose, modify or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes deem applicable any reserve (except for taxes on the overall net income or share capital of including any such Lender or Participant requirement imposed by the jurisdiction in which Board of Governors of the Lender’s or Participant’s principal office is locatedU.S. Federal Reserve System); (b) imposes, modifies, or deems applicable any reserve, special deposit deposit, insurance assessment or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with or for the account of, or other acquisitions of funds by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender (or Participant, its Applicable Lending Office) or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; or (d) imposes shall impose upon any Lender (or Participant its Applicable Lending Office) or the London interbank market any other condition or expense with respect to this Agreementaffecting its Loan(s), or the Loan Notes, its Note(s) or its making, maintenance or funding of any loan or other credit or any commitment or security thereforobligation to make its Loan, and the result of any of the foregoing is to increase directly or indirectly the cost toto such Lender (or its Applicable Lending Office) of making or maintaining its Loan(s), or to reduce the income amount of any sum received or receivable byby such Lender (or its Applicable Lending Office) under this Agreement or under any other Loan Document (other than Taxes (including Excluded Taxes), which shall be treated pursuant to Section 4.5), then the Newark Subsidiaries, jointly and severally, shall pay to the Administrative Agent for the account of such Lender such additional amount(s) as will compensate such Lender for such increased cost or reduction. (b) If any Lender shall have reasonably determined that the adoption of any Applicable Law regarding capital adequacy, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Noteschange therein, or any change in the makinginterpretation or administration thereof by any Governmental Authority charged with the interpretation or administration thereof, maintenance or funding compliance by it (or its Applicable Lending Office) with any request or directive regarding capital adequacy (whether or not having the force of law) of any loan Governmental Authority (orin each case above, in at any time on or after the case of any capital adequacy date hereof), has or similar requirement, to would have the effect of reducing the rate of return on capital of such Lender (or its parent or Applicable Lending Office) as a consequence of such Lender’s 's obligations hereunder or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect its Loan(s) to capital adequacy) by an amount a level below that which such Lender (or Participant deems to be material to itits parent or Applicable Lending Office) could have achieved but for such adoption, change, request or directive, then such Lender or Participant shall from time to time cause the Administrative Agent Newark Subsidiaries, jointly and severally, shall pay to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) by such Lender or Participant (which determination shall be conclusive absent manifest error) to be necessary to such additional amount as will compensate such Lender (or Participant its parent or Applicable Lending Office, as the case may be) for such increasereduction. (c) Each Lender shall promptly (and, reduction or disposition. Such amount shall be due and payable by DART to in any event, within 90 days of its actual knowledge thereof) notify the Newark Subsidiaries of any event of which it has knowledge that will entitle such Lender or Participant (to compensation pursuant to this Section and shall provide the Newark Subsidiaries with reasonable detail as directed by to the Administrative Agent) within 10 Business Days basis of such Lender's claim to compensation hereunder and method for calculating such compensation; it being understood that any failure of any Lender to deliver any such notice shall result in its not being able to seek compensation pursuant to this Section for the period from and including the date of its actual knowledge of such event to but excluding the Administrative Agent’s date that is 90 days before the date on which it has notified the Newark Subsidiaries of such event. Before giving any such notice, a Lender shall designate a different Applicable Lending Office if such designation: (i) will avoid the need for, or reduce the amount of, such compensation and (ii) will not, in the reasonable judgment of such Lender, be disadvantageous to such Lender. A certificate notice of any Lender claiming compensation under this Section and providing the information set forth above within the time set forth above shall be prima facie evidence of its entitlement to such compensation and shall be binding upon the Newark Subsidiaries in the absence of manifest error and such amounts shall be payable by the Newark Subsidiaries, jointly and severally, promptly (and, in any event, within five Business Days) after receipt of such Lender or Participant as notice (or, if such compensation relates to future dates, by no later than the amount due and applicable dates indicated in such notice). (d) For purposes of calculating amounts payable under this Section from time to time and the method of calculating such amount Section 4.4, each Loan conclusively shall be conclusive absent manifest error deemed to have been funded at the LIBO Rate applicable to such Loan by a matching deposit or other borrowing in the interbank eurodollar market for a comparable amount and shall be provided to DART along with the notice described above. The rights of any Participant for a comparable period, whether or not such Loan was in this Section 8.01 are expressly limited by the provisions of Section 8.10fact so funded.

Appears in 1 contract

Sources: Credit Agreement (Votorantim Pulp & Paper Inc)

Additional Costs. If Borrower hereby irrevocably agrees to reimburse and indemnify each Bank from all increased costs and fees incurred by such Bank in connection with this Agreement subsequent to the date of the Initial Advance of funds to Borrower under this Agreement and relating to or arising from (x) the offering of rates of interest based upon the One-Month LIBOR Rate to the extent such costs result from a Change or (y) a change in government regulation. Without limiting the generality of the foregoing, if (any of the following being a “Change”): (i) any law, rule, regulation, guideline, or directive (in each case whether or not having the force of law) is passed, enacted, promulgated, ordered, issued or adopted after the date of the Initial Advance of funds to Borrower under this Agreement, (ii) there is any change after the date of the Initial Advance of funds to Borrower under this Agreement in any law, rule, regulation, guideline, or directive (in each case whether or not having the force of law or and including, without limitation, any request, rule, guideline or directive (A) in connection with the ▇▇▇▇-▇▇▇▇▇ ▇▇▇▇ Street Reform and Consumer Protection Act (as amended, the “▇▇▇▇-▇▇▇▇▇ Act”) or (B) enacted, promulgated, adopted, issued or implemented by the Bank of International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority), or the United States or foreign financial regulatory authorities), or in the interpretation or applicationadministration thereof by any governmental authority, central bank or comparable agency charged with the interpretation, application or administration of any of the foregoing, or (iii) such Bank complies with any request or directive made after the date of the Initial Advance of funds to Borrower under this Agreement regarding capital adequacy (whether or not having the force of law) from any such authority, central bank or comparable agency, and to the extent such Change shall: (a) subjects increase the cost to a Bank, by an amount which such Bank reasonably deems to be material, of making, converting into, continuing or maintaining any Lender or Participant portion of any advance subject to any tax or changes the basis of taxation with respect to this Agreement or the Loan NotesInterest Rate, or payments by DART of principalreduce any amount receivable hereunder in respect thereof, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes on the overall net income or share capital of such Lender or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is located);or (b) imposes, modifies, or deems applicable any reserve, special deposit or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with or for the account of, or other acquisitions of funds by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; or (d) imposes upon any Lender or Participant any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, and the result of any of the foregoing is to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lendera Bank’s or Participant’s capitalcapital as a consequence of its obligations hereunder, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) any Loan, to a level below that which such Bank could have achieved but for such Change by an amount which reasonably deemed by such Lender or Participant deems Bank to be material to itmaterial, (c) then, then in any and each such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) case, after submission by such Lender or Participant (which determination Bank to Borrower of a written request therefor, Borrower shall be conclusive absent manifest error) to be pay such Bank any additional amounts necessary to compensate such Lender or Participant Bank for such increase, increased cost or reduction to the extent such costs or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date reduction is a result of the Administrative Agent’s noticechange. A certificate by such Lender or Participant as to Bank’s reasonable determination of the amount due and payable under this Section from time to time and the method of calculating such amount reimbursement shall be conclusive absent in the absence of manifest error error. Notwithstanding anything to the contrary contained herein, for all purposes of this Agreement, all requests, rules, guidelines and shall be provided to DART along directives (I) in connection with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited ▇▇▇▇-▇▇▇▇▇ Act or (II) enacted, promulgated, adopted, issued or implemented by the provisions Bank of Section 8.10International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority), or the United States or foreign financial regulatory authorities shall, in each case, be deemed to constitute a Change whether or not such request, rule, guideline or directive has the force of law and regardless of the date on which such request, rule, guideline or directive was enacted, promulgated, adopted, issued or implemented.

Appears in 1 contract

Sources: Syndicated Term Loan Agreement (Strategic Storage Trust IV, Inc.)

Additional Costs. If Other than with respect to Taxes, which shall be governed by §5.4.2, if any law present or guideline future applicable law, which expression, as used herein, includes statutes, rules and regulations thereunder and interpretations thereof by any competent court or by any governmental or other regulatory body or official charged with the administration or the interpretation thereof and requests, directives, instructions and notices at any time or applicationfrom time to time hereafter made upon or otherwise issued to any Lender by any central bank or other fiscal, monetary or other authority (whether or not having the force of law), shall: (a) subjects impose or increase or render applicable (other than to the extent specifically provided for elsewhere in this Credit Agreement) any Lender special deposit, reserve, assessment, liquidity, capital adequacy or Participant to any tax other similar requirements (whether or changes not having the basis force of taxation with respect to this Agreement or the Loan Noteslaw) against assets held by, or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes on the overall net income or share capital of such Lender or Participant imposed by the jurisdiction deposits in which the Lender’s or Participant’s principal office is located); (b) imposes, modifies, or deems applicable any reserve, special deposit or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with or for the account of, or other acquisitions of funds loans by, any Lender or Participant; (c) imposes, modifiesletters of credit issued by, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable to the obligations of an office of any Lender or Participant under this Agreement; Lender, or (db) imposes upon impose on any Lender or Participant any other condition conditions or expense requirements with respect to this Credit Agreement, or the other Loan NotesDocuments, the Term Loans, such Lender’s Term Loan Commitment, or its making, maintenance any class of loans or funding commitments of which any loan of the Term Loans or other credit or any commitment or security thereforsuch Lender’s Term Loan Commitment forms a part, and the result of any of the foregoing is is: (i) to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon to any Lender or Participant with respect to this Agreement, the Loan Notes, or the of making, maintenance funding, issuing, renewing, extending or funding maintaining any of any loan (or, in the case of any capital adequacy Term Loans or similar requirement, to have the effect of reducing the rate of return on such Lender’s Term Loan Commitment, or (ii) to reduce the amount of principal, interest or Participant’s capital, taking into consideration other amounts payable to such Lender hereunder on account of such Lender’s Term Loan Commitment or Participant’s policies with respect any of the Term Loans, or (iii) to capital adequacy) by an amount which require such Lender to make any payment or Participant deems to be material to itforego any interest or other sum payable hereunder, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using of which payment or foregone interest or other sum is calculated by reference to the gross amount of any reasonable averaging and attribution methods) sum receivable or deemed received by such Lender or Participant (which determination shall be conclusive absent manifest error) to be necessary to compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of Borrowers hereunder, then, and in each such case, the Administrative Agent’s notice. A certificate Borrowers will, upon demand made by such Lender or Participant as to the amount due at any time and payable under this Section from time to time and as often as the method of calculating occasion therefor may arise, pay to such amount shall Lender such additional amounts as will be conclusive absent manifest error and shall be provided sufficient (taking into account any amounts described in subsections 5.4.1(a) or (b) hereof on such additional amounts) to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10compensate such Lender for such additional cost, reduction, payment or foregone interest or other sum.

Appears in 1 contract

Sources: Credit Agreement (WorldSpace, Inc)

Additional Costs. If any law or guideline or interpretation or application (a) subjects If the adoption of, or any change in, in each case after the date hereof, any Requirement of Law or in the interpretation or application thereof or compliance by any Lender with any request or directive (whether or not having the force of law) from any central bank or other Governmental Authority or the NAIC made subsequent to the date hereof: (i) shall subject any Lender or Participant Issuing Lender to any tax of any kind whatsoever with respect to this Agreement, any Note, any Letter of Credit or changes any Lender's participation therein, any Letter of Credit Document or any Loan made by it or change the basis of taxation with of payments to such Lender in respect to this Agreement or the Loan Notes, or payments thereof by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes any Governmental Authority (except for taxes covered by or expressly excluded from coverage by Section 5.06 and changes in the rate of tax on the overall net income or share capital of such Lender or Participant imposed its Applicable Lending Office, or any affiliate thereof or franchise tax by the jurisdiction in which the Lender’s or Participant’s principal office is locatedany Governmental Authority); (bii) imposesshall impose, modifies, modify or deems hold applicable any reserve, special deposit deposit, compulsory loan or similar requirement against credits or commitments to extend credit extended assets held by, assets (funded deposits or contingent) of, deposits with other liabilities in or for the account of, advances, loans or other acquisitions extensions of credit by, or any other acquisition of funds by, any office of such Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Issuing Lender or Participant, or (ii) which is not otherwise applicable to included in the obligations determination of any Lender or Participant under this Agreementthe LIBOR Rate hereunder; or (diii) imposes upon any shall impose on such Lender or Participant Issuing Lender any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, (excluding taxes); and the result of any of the foregoing is to increase directly or indirectly the cost toto such Lender or Issuing Lender, by an amount which such Lender or Issuing Lender deems to be material, of making, converting into, continuing or maintaining LIBOR Loans or issuing or participating in Letters of Credit or to reduce the income any amount receivable byhereunder in respect thereof then, in any such case, Borrower or impose PR Borrower shall promptly pay such Lender or Issuing Lender, within five Business Days after its written demand, any expense (including loss of margin) upon additional amounts necessary to compensate such Lender or Issuing Lender for such increased cost or reduced amount receivable. If any Lender or Participant with respect Issuing Lender becomes entitled to claim any additional amounts pursuant to this Agreementsubsection, it shall promptly notify Borrower, through Administrative Agent, of the event by reason of which it has become so entitled. A certificate as to any additional amounts setting forth the calculation of such additional amounts pursuant to this Section 5.01 shall be submitted by such Lender or Issuing Lender, through Administrative Agent, to Borrower and shall be conclusive in the absence of clearly demonstrable error. Without limiting the survival of any other covenant hereunder, this Section 5.01 shall survive the termination of this Agreement and the payment of the Notes and all other amounts payable hereunder. (b) In the event that any Lender or Issuing Lender shall have determined that the adoption after the date hereof of any law, rule, regulation or guideline regarding capital adequacy (or any change after the date hereof therein or in the interpretation or application thereof) or compliance by any Lender or Issuing Lender or any corporation controlling such Lender or Issuing Lender with any request or directive regarding capital adequacy (whether or not having the force of law) from any central bank or Governmental Authority or the NAIC, in each case, made subsequent to the date hereof including, without limitation, the Loan Notes, or issuance after the making, maintenance or funding date hereof of any loan (orfinal rule, in the case of any capital adequacy regulation or similar requirementguideline, to does or shall have the effect of reducing the rate of return on such Lender’s 's or Participant’s capitalIssuing Lender's or such corporation's capital as a consequence of its obligations hereunder or under any Letter of Credit to a level below that which such Lender or Issuing Lender or such corporation could have achieved but for such adoption, change or compliance (taking into consideration such Lender’s 's or Participant’s Issuing Lender's or such corporation's policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) deemed by such Lender or Participant (which determination shall be conclusive absent manifest error) Issuing Lender to be necessary material, then from time to time, after submission by such Lender or Issuing Lender to Borrower (with a copy to Administrative Agent) of a written request therefor setting forth a reasonably detailed calculation of such additional amounts, Borrower shall promptly pay to such Lender or Issuing Lender such additional amount or amounts as will compensate such Lender or Participant Issuing Lender for such increasereduction. (c) PR Borrower shall reimburse Borrower for any amounts paid under Section 5.01 which are attributable to extensions of credit made to PR Borrower hereunder. (d) Failure or delay on the part of any Lender to demand compensation pursuant to this Section 5.01 shall not constitute a waiver of such Lender's right to demand such compensation; provided that Borrower shall not be required to compensate a Lender pursuant to this Section for any increased costs incurred more than 180 days prior to the date that such Lender notifies Borrower of Lender's entitlement to claim any additional amounts pursuant to this Section 5.01(d) and of such Lender's intention to claim compensation therefor; provided further that, reduction or disposition. Such amount if the circumstances giving rise to such increased costs are retroactive, then the 180-day period referred to above shall be due and payable by DART extended to such Lender or Participant (as directed by include the Administrative Agent) within 10 Business Days from the date period of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10retroactive effect thereof.

Appears in 1 contract

Sources: Credit Agreement (Centennial Communications Corp /De)

Additional Costs. If any law or guideline or interpretation or application (a) subjects If any Lender change in applicable law, treaty, regulation, guideline or Participant directive (including, without limitation, Regulation D promulgated by the Board of Governors of the Federal Reserve System as now and from time to time hereafter in effect) or any new law, treaty, regulation, guideline or directive, or any interpretation of any of the foregoing by any authority charged with the administration or interpretation thereof or any central bank or other fiscal, monetary or other authority having jurisdiction over the Bank, or any Participating Bank or the transactions contemplated by this Agreement (whether or not having the force of law) shall: (i) subject the Bank or any Participating Bank to any tax tax, charge, fee, deduction or changes the basis withholding of taxation any kind with respect to any Direct Pay Letter of Credit, this Agreement Agreement, or the other Loan NotesDocuments, or payments any amount paid or to be paid by DART the Bank or any Participating Bank as the issuer of principal, interest, fees any Direct Pay Letter of Credit (other than any tax measured by or other amounts due from DART hereunder or under the Loan Notes (except for taxes on based upon the overall net income of the Bank or share capital of such Lender or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is locateda Participating Bank); (bii) imposesimpose, modifies, modify or deems deem applicable any reserve, premium, special deposit or similar requirement requirements against credits or commitments to extend credit extended any assets held by, assets (funded or contingent) of, deposits with or for the account of, or other acquisitions loans, letters of funds credit or commitments by, an office of the Bank or any Lender or ParticipantParticipating Bank; (ciii) imposes, modifies, change the basis of taxation of payments due the Bank or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant Participating Bank under this Agreement, any Direct Pay Letter of Credit or the other Loan Documents (other than a change in taxation of the overall net income of the Bank or a Participating Bank); or (div) imposes impose upon the Bank or any Lender or Participant Participating Bank any other condition with respect to such amount paid or expense payable to or by the Bank or any Participating Bank or with respect to this Agreement, any Direct Pay Letter of Credit or the other Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, Documents; and the result of any of the foregoing is to increase directly or indirectly the cost toto the Bank or any Participating Bank of agreeing to issue, reduce the income receivable byissuing, making any payment under or impose any expense (including loss of margin) upon any Lender or Participant with respect to maintaining this Agreement, the any Direct Pay Letter of Credit or any other Loan NotesDocument, or to reduce the making, maintenance or funding amount of any loan payment (orwhether of principal, interest or otherwise) receivable by the Bank or any Participating Bank or to require the Bank or any Participating Bank to make any payment on or calculated by reference to the gross amount of any sum received by it, in each case by an amount which the case Bank or such Participating Bank in its reasonable judgment deems material, then: (1) the Bank shall promptly notify the Borrower in writing of the happening of such event; (2) the Bank shall promptly deliver to the Borrower a certificate stating the change which has occurred or the reserve requirements or other costs or conditions which have been imposed on the Bank or a Participating Bank or the request, direction or requirement with which it has complied together with the date thereof, the amount of such increased cost, reduction or payment and the way in which such amount has been calculated, including a reasonably detailed calculation and the Bank's determination of such amounts, absent fraud or manifest error, shall be conclusive; and (3) the Borrower shall pay to the Bank, from time to time as specified by the Bank, such an amount or amounts as will compensate the Bank or such Participating Bank for such additional cost, reduction or payment, together with interest on such amount from the date of demand therefor at the Default Rate. (b) In addition to the foregoing, if after the date hereof the Bank or any Participating Bank shall have determined that the adoption of any applicable law, rule or regulation regarding capital adequacy, or any change therein, or any change in the interpretation, implementation or administration thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation, implementation or administration thereof, or compliance by the Bank or any Participating Bank with any request or directive regarding capital adequacy (whether or similar requirementnot having the force of law) of any such authority, to central bank or comparable agency, has or would have the effect of reducing the rate of return on the capital of the Bank or any Participating Bank to a level below that which the Bank or such Lender’s Participating Bank could have achieved but for such adoption, change or Participant’s capital, compliance (taking into consideration the policies of the Bank or such Lender’s or Participant’s policies Participating Bank with respect to capital adequacy) by an amount which deemed by the Bank or such Lender or Participant deems Participating Bank to be material material, or affects or would affect the amount of capital required or expected to itbe maintained by the Bank or any Participating Bank or any corporation controlling the Bank or any Participating Bank by an amount deemed by the Bank or such Participating Bank to be material, as a consequence of its obligations hereunder or under any Direct Pay Letter of Credit or other Loan Document, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) by such Lender or Participant (which determination Borrower shall be conclusive absent manifest error) obligated to pay or cause to be necessary paid to the Bank such additional amount or amounts as will compensate the Bank or such Lender or Participant Participating Bank for such increase, reduction or disposition. Such amount shall be due and payable by DART capital increase with respect to any period for which such Lender reduction or Participant (as directed capital increase was incurred upon demand by the Administrative Agent) within 10 Business Days Bank, together with interest on such amount for each day from the such date of demand until payment in full at the Administrative Agent’s noticeDefault Rate. A certificate setting forth in reasonable detail such reduction in the rate of return on capital, or such capital increase, of the Bank or a Participating Bank as a result of any event mentioned in this paragraph shall be submitted by the Bank to the Borrower, and such Lender or Participant certificate shall, in the absence of manifest error, be conclusive as to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant thereof. (c) Notwithstanding anything in this Section 8.01 to the contrary, if such costs are expressly limited to be incurred on a continuing basis and the Bank shall so notify the Borrower in writing as to the amount thereof, such costs shall be paid by the Borrower to the Bank monthly in arrears. The Bank shall use a reasonable method of allocation or attribution to equitably apportion any increased costs or reduction in the rate of return on capital among all of its customers so affected. (d) The protection of this Section shall be available to the Bank and the Participating Banks, regardless of any possible contention of invalidity or inapplicability of the law, regulation or condition which has been imposed; provided, however, that if it shall be later determined that any amount so paid by the Borrower pursuant to this Section is in excess of the amount payable under the provisions of Section 8.10hereof, the Bank or such Participating Bank, as the case may be, shall refund such excess amount to the Borrower as soon as practicable.

Appears in 1 contract

Sources: Reimbursement Agreement (Hanover Direct Inc)

Additional Costs. If any present or future applicable law ("Applicable Law"), which expression as used herein includes statutes, rules and regulations thereunder and interpretations thereof by any competent court or guideline by any governmental or other regulatory body or official charged with the administration or the interpretation thereof and requests, directives, instructions and notices at any time or applicationfrom time to time hereafter made upon or otherwise issued to Lender by any central bank or other fiscal, monetary or other authority (whether or not having the force of law), including without limitation any change according to a prescribed schedule of increasing requirements, whether or not known or in effect as of the date hereof, shall with respect to any amounts outstanding under the Credit Facility, or undertakings of the Lender under this Agreement (ai) subjects any subject the Lender or Participant to any tax tax, levy, impost, duty, charge, fee, deduction or changes the basis withholding of taxation any nature with respect to this Agreement or undertakings of the Loan NotesLender hereunder or the payment to the Lender of any amounts due to it hereunder, or (ii) materially change the basis of taxation of payments to the Lender of the principal of or interest on any amounts payable to the Lender hereunder, or (iii) impose or increase or render applicable any special or supplemental deposit or reserve or similar requirements or assessment against assets held by, or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes on the overall net income or share capital of such Lender or Participant imposed by the jurisdiction deposits in which the Lender’s or Participant’s principal office is located); (b) imposes, modifies, or deems applicable any reserve, special deposit or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with or for the account of, or other acquisitions of funds by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) liabilities of, or credits or commitments to extend credit extended byadvances by the Lender in respect of the transactions contemplated herein, any Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; or (div) imposes upon any impose on the Lender or Participant any other condition or expense requirement with respect to this Agreement, the Credit Facility or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security thereforadvances thereunder, and the result of any of the foregoing is is (A) to increase directly or indirectly the cost toto the Lender of making, funding or maintaining all or any part of the Credit Facility or advances thereunder, or (B) to reduce the income receivable byamount of principal, interest or impose other amount payable to the Lender hereunder, or (C) to require the Lender to make any expense (including loss of margin) upon payment or to forego any Lender interest or Participant with respect to this Agreementother sum payable hereunder, the Loan Notes, amount of which payment or foregone interest or other sum is calculated by reference to the making, maintenance or funding gross amount of any loan (orsum receivable or deemed received by the Lender from the Borrower hereunder, then, and in each such case not otherwise provided for hereunder, the Borrower will upon demand promptly following Lender's notice to the Borrower and the Lender pertaining to such matters accompanied by calculations thereof in reasonable detail, pay to the Lender such additional amounts as will be sufficient to compensate it for such additional cost, reduction, payment or foregone interest or other sum; provided that the foregoing provisions of this sentence shall not apply in the case of any capital adequacy additional cost, reduction, payment or similar requirementforegone interest or other sum resulting from any taxes charged upon or by reference to the overall net income, to have the effect of reducing the rate of return on such Lender’s profits or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART gains of the amount determined in good faith (using any reasonable averaging and attribution methods) by such Lender or Participant (which determination shall be conclusive absent manifest error) to be necessary to compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10Lender.

Appears in 1 contract

Sources: Credit Agreement (Biosphere Medical Inc)

Additional Costs. If any law or guideline or interpretation or application (a) subjects If the adoption of any Applicable Law, or any change in any Applicable Law, or any change in the interpretation or administration thereof by any Governmental Authority charged with the interpretation or administration thereof, or compliance by any Lender (or Participant to its Applicable Lending Office) with any tax request or changes directive (whether or not having the basis force of taxation with respect to this Agreement law) of any Governmental Authority (in each case above, at any time on or after the Loan Notesdate hereof), shall impose, modify or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes deem applicable any reserve (except for taxes on the overall net income or share capital of including any such Lender or Participant requirement imposed by the jurisdiction in which Board of Governors of the Lender’s or Participant’s principal office is locatedU.S. Federal Reserve System); (b) imposes, modifies, or deems applicable any reserve, special deposit deposit, insurance assessment or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with or for the account of, or other acquisitions of funds by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender (or Participant, its Applicable Lending Office) or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; or (d) imposes shall impose upon any Lender (or Participant its Applicable Lending Office) or the London interbank market any other condition or expense with respect to this Agreementaffecting its Loan(s), or the Loan Notes, its Note(s) or its making, maintenance or funding of any loan or other credit or any commitment or security thereforobligation to make its Loan, and the result of any of the foregoing is to increase directly or indirectly the cost toto such Lender (or its Applicable Lending Office) of making or maintaining its Loan(s), or to reduce the income amount of any sum received or receivable byby such Lender (or its Applicable Lending Office) under this Agreement or under any other Loan Document (other than Taxes (including Excluded Taxes), which shall be treated pursuant to Section 4.5), then the Newark Subsidiaries, jointly and severally, shall pay to the Administrative Agent for the account of such Lender such additional amount(s) as will compensate such Lender for such increased cost or reduction. (b) If any Lender shall have reasonably determined that the adoption of any Applicable Law regarding capital adequacy, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Noteschange therein, or any change in the makinginterpretation or administration thereof by any Governmental Authority charged with the interpretation or administration thereof, maintenance or funding compliance by it (or its Applicable Lending Office) with any request or directive regarding capital adequacy (whether or not having the force of law) of any loan Governmental Authority (orin each case above, in at any time on or after the case of any capital adequacy date hereof), has or similar requirement, to would have the effect of reducing the rate of return on capital of such Lender (or its parent or Applicable Lending Office) as a consequence of such Lender’s 's obligations hereunder or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect its Loan(s) to capital adequacy) by an amount a level below that which such Lender (or Participant deems to be material to itits parent or Applicable Lending Office) could have achieved but for such adoption, change, request or directive, then such Lender or Participant shall from time to time cause the Administrative Agent Newark Subsidiaries, jointly and severally, shall pay to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) by such Lender or Participant (which determination shall be conclusive absent manifest error) to be necessary to such additional amount as will compensate such Lender (or Participant its parent or Applicable Lending Office, as the case may be) for such increasereduction. (c) Each Lender shall promptly (and, reduction or disposition. Such amount shall be due and payable by DART to in any event, within 90 days of its actual knowledge thereof) notify the Newark Subsidiaries of any event of which it has knowledge that will entitle such Lender or Participant (to compensation pursuant to this Section and shall provide the Newark Subsidiaries with reasonable detail as directed by to the Administrative Agent) within 10 Business Days basis of such Lender's claim to compensation hereunder and method for calculating such compensation; it being understood that any failure of any Lender to deliver any such notice shall result in its not being able to seek compensation pursuant to this Section for the period from and including the date of its actual knowledge of such event to but excluding the Administrative Agent’s date that is 90 days before the date on which it has notified the Newark Subsidiaries of such event. Before giving any such notice, a Lender shall designate a different Applicable Lending Office if such designation: (i) will avoid the need for, or reduce the Credit Agreement 22 amount of, such compensation and (ii) will not, in the reasonable judgment of such Lender, be disadvantageous to such Lender. A certificate notice of any Lender claiming compensation under this Section and providing the information set forth above within the time set forth above shall be prima facie evidence of its entitlement to such compensation and shall be binding upon the Newark Subsidiaries in the absence of manifest error and such amounts shall be payable by the Newark Subsidiaries, jointly and severally, promptly (and, in any event, within five Business Days) after receipt of such Lender or Participant as notice (or, if such compensation relates to future dates, by no later than the amount due and applicable dates indicated in such notice). (d) For purposes of calculating amounts payable under this Section from time to time and the method of calculating such amount Section 4.4, each Loan conclusively shall be conclusive absent manifest error deemed to have been funded at the LIBO Rate applicable to such Loan by a matching deposit or other borrowing in the interbank eurodollar market for a comparable amount and shall be provided to DART along with the notice described above. The rights of any Participant for a comparable period, whether or not such Loan was in this Section 8.01 are expressly limited by the provisions of Section 8.10fact so funded.

Appears in 1 contract

Sources: Credit Agreement (Votorantim Pulp & Paper Inc)

Additional Costs. If any law or guideline or interpretation or application (a) subjects The Borrowers shall within two (2) Business Days of demand therefor by any Lender (with a copy of such demand to the Relevant Agent) pay to the Relevant Agent for the account of such Lender from time to time, without duplication, such amounts as such Lender may reasonably determine to be necessary to compensate it for any costs incurred by such Lender which it determines are attributable to its making or Participant maintaining any Loan or its obligation to make any tax Loans, or the issuance or maintenance by an Issuing Bank, of or any other Lender's Participation in any Letter of Credit issued hereunder, or any reduction in any amount receivable by such Lender under this Agreement or the Bankers' Acceptances or the Notes in respect of any of such Loans or the Letters of Credit, including reductions in the rate of return on a Lender's capital (such increases in costs and reductions in amounts receivable and returns being herein called "Additional Costs"), resulting from any Regulatory Change which: (i) changes the basis of taxation with respect of any amounts payable to such Lender under this Agreement or the Loan NotesBankers' Acceptances or the Notes in respect of any of such Loans or the Letters of Credit (excluding for purposes of this SECTION 7.1 any such increased costs resulting from (A) Taxes (as to which SECTION 7.7 shall govern), or payments by DART and (B) changes in the basis of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes on the taxation of overall net income or share capital overall gross income by the United States, by Canada or by any other foreign jurisdiction or state under the laws of which such Lender is organized or Participant imposed by the jurisdiction in which the Lender’s has its Lending Office or Participant’s principal office is locatedany political subdivision thereof); (b) imposes, modifies, or deems applicable any reserve, special deposit or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with or for the account of, or other acquisitions of funds by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, ; or (ii) otherwise applicable to the obligations of imposes or modifies any Lender or Participant under this Agreement; or (d) imposes upon any Lender or Participant any other condition or expense with respect to this Agreementreserve, special, deposit, or the Loan Notessimilar requirements relating to any extensions of credit or other assets of, or its making, maintenance or funding of any loan deposits with or other credit liabilities of, such Lender (other than any such reserve, special, deposit or any commitment other similar requirement reflected in the Prime Rate, the Reference Rate, the Federal Funds Effective Rate or security therefor, and the result of any of the foregoing is to increase directly or indirectly the cost to, reduce the income receivable byInterbank Offered Rate, or impose any expense otherwise provided for in SECTION 7.6); or (including loss of marginiii) upon any Lender or Participant with respect to this Agreement, the Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have has the effect of reducing the rate of return on capital of any such Lender’s or Participant’s capital, Lender to a level below that which the Lender would have achieved but for such Regulatory Change (taking into consideration such Lender’s or Participant’s 's policies and the policies of its parent corporation with respect to capital adequacy) ); PROVIDED, HOWEVER, that any demand for Additional Costs is made by an amount the applicable Lender within 60 days after the date on which the officer of such Lender who has responsibility for compliance with the obligations under this Agreement knows or Participant deems has reason to be material know of such Lender's right to itany Additional Costs under this SECTION 7.1(A) or, then if any such Lender fails to deliver such demand within such 60- day period, such Lender shall only be entitled to compensation for any Additional Costs from and after the date that is 60 days prior to the date such Lender delivers such demand; and PROVIDED FURTHER, HOWEVER, that before making any such demand, each Lender agrees to use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions) to designate a different Lending Office if the making of such a designation would avoid the need for, or Participant shall from time to time cause the Administrative Agent to notify DART of reduce the amount determined of, such Additional Costs and would not, in good faith (using any the reasonable averaging and attribution methods) by judgment of such Lender or Participant (which determination shall Lender, be conclusive absent manifest error) to be necessary to compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART otherwise disadvantageous to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s noticeLender. A certificate by such Lender or Participant as to the amount due of such Additional Costs (including the basis of calculation thereof) and payable under this Section from time an explanation of the Regulatory Change giving rise thereto, submitted to time the Borrowers and the method of calculating Relevant Agent by such amount Lender, shall be conclusive and binding for all purposes, absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10demonstrable error.

Appears in 1 contract

Sources: Credit Agreement (Consoltex Inc/ Ca)

Additional Costs. If any law or guideline or interpretation or application (a) subjects The Company shall pay directly to each Lender from time to time such amounts as such Lender may determine to be CREDIT AGREEMENT necessary to compensate such Lender for any costs that such Lender determines are attributable to its making or maintaining of any Eurodollar Loans or its obligation to make any Eurodollar Loans hereunder or any reduction in any amount receivable by such Lender hereunder in respect of any of such Loans or such obligation (such increases in costs and reductions in amounts receivable being herein called "ADDITIONAL COSTS"), resulting from any Regulatory Change that: (i) shall subject any Lender (or Participant its Applicable Lending Office for any of such Loans) to any tax tax, duty or other charge in respect of such Loans or its Notes or changes the basis of taxation with respect of any amounts payable to such Lender under this Agreement or its Notes in respect of any of such Loans (excluding changes in the Loan Notes, or payments by DART rate of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes tax on the overall net income or share capital of such Lender or Participant imposed of its Applicable Lending Office by the jurisdiction in which the Lender’s such Lender is organized or Participant’s has its principal office or in which its Applicable Lending Office is locatedorganized or located or, in each case, any political subdivision or taxing authority thereof or therein);; or (bii) imposes, modifies, imposes or deems applicable modifies any reserve, special deposit or similar requirement against credits requirements (other than the Reserve Requirement utilized in the determination of the Eurodollar Rate for such Loan) relating to any extensions of credit or commitments to extend credit extended by, other assets (funded or contingent) of, or any deposits with or for the account other liabilities of, such Lender (including, without limitation, any of such Loans or any deposits referred to in the definitions of "Eurodollar Base Rate" in Section 1.01 hereof), or any commitment of such Lender (including, without limitation, the Commitments of such Lender hereunder); or (iii) imposes any other acquisitions condition affecting this Agreement or its Notes (or any of funds bysuch extensions of credit or liabilities) or its Commitments. If any Lender requests compensation from the Company under this Section 5.01(a), the Company may, by notice to such Lender (with a copy to the Agent), suspend the obligation of such Lender thereafter to make or Continue Eurodollar Loans, to Convert Loans of another Type into Eurodollar Loans or to Convert Eurodollar Loans into Loans of another Type until the Regulatory Change giving rise to such request ceases to be in effect (in which case the provisions of Section 5.04 hereof shall be applicable), CREDIT AGREEMENT PROVIDED that such suspension shall not affect the right of such Lender to receive the compensation so requested. (b) Without limiting the effect of the provisions of paragraph (a) of this Section 5.01, in the event that, by reason of any Regulatory Change, any Lender (i) incurs Additional Costs based on or Participant;measured by the excess above a specified level of the amount of a category of deposits or other liabilities of such Lender that includes deposits by reference to which the interest rate on Eurodollar Loans is determined as provided in this Agreement or a category of extensions of credit or other assets of such Lender that includes Eurodollar Loans or (ii) becomes subject to restrictions on the amount of such a category of liabilities or assets that it may hold then, if such Lender so elects by notice to the Company (with a copy to the Agent), the obligation of such Lender to make or Continue, or to Convert Loans of another type into, Eurodollar Loans, hereunder (as the case may be) shall be suspended until any such Regulatory Change ceases to be in effect (in which case the provisions of Section 5.04 hereof shall be applicable). (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable to Without limiting the obligations of any Lender or Participant under this Agreement; or (d) imposes upon any Lender or Participant any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, and the result of any effect of the foregoing is to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense provisions of this Section 5.01 (including loss of margin) upon any Lender or Participant with respect to this Agreementbut without duplication), the Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, Company shall pay directly to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such each Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) by on request such amounts as such Lender or Participant (which determination shall be conclusive absent manifest error) may determine to be necessary to compensate such Lender or Participant for such increase(or, reduction or disposition. Such amount shall be due and payable by DART to without duplication, the bank holding company of which such Lender or Participant (as directed by is a subsidiary) for any costs that it determines are attributable to the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate maintenance by such Lender (or Participant as any Applicable Lending Office or such bank holding company), pursuant to any law or regulation or any interpretation, directive or request (whether or not having the amount due force of law and payable under this Section from time whether or not failure to time comply therewith would be unlawful) of any court or governmental or monetary authority (i) following any Regulatory Change or (ii) hereafter implementing any risk-based capital guideline or other requirement (whether or not having the force of law and whether or not the failure to comply therewith would be unlawful) heretofore or hereafter issued by any government or governmental or supervisory authority implementing at the national level the Basle Accord (including, without limitation, the Final Risk-Based Capital Guidelines of the Board of Governors of the Federal Reserve System (12 C.F.R. Part 208, Appendix A; ▇▇ ▇.▇.▇. ▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇▇ ▇) and the method Final Risk-Based Capital Guidelines of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights Office of any Participant the Comptroller of the Currency (12 C.F.R. Part 3, Appendix A)), of capital in this Section 8.01 are expressly limited by the provisions respect of Section 8.10.its Commitments or CREDIT AGREEMENT

Appears in 1 contract

Sources: Credit Agreement (Suiza Foods Corp)

Additional Costs. If any law or guideline or interpretation or application (a) subjects If, on or after the date hereof, as a result of the adoption of any Lender Requirement of Law, or Participant any change in any Requirement of Law, or any change in the interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration thereof, or compliance by any Bank (or its Applicable Lending Office) with any request or directive (whether or not having the force of law) of any such Governmental Authority there shall be any increase in the cost to any tax Bank of agreeing to make or changes making, funding or maintaining its Loan (other than taxes, which shall be treated in accordance with Section 5.05 hereof), then such Bank shall, promptly after the basis of taxation with respect to this Agreement or the Loan Notes, or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes on the overall net income or share capital occurrence of such Lender or Participant imposed by event, notify the jurisdiction Borrower thereof, and the Borrower shall, subject to clause (c) below, pay to the Administrative Agent for the account of such Bank the amount stated in which such notification as required to indemnify such Bank against such increased cost, such amount to be payable within ten days after the Lender’s or Participant’s principal office is located);Borrower's receipt of such notification. (b) imposesIf any Bank shall have determined that, modifiesafter the date hereof, the adoption of any Requirement of Law regarding capital adequacy, or deems applicable any reserve, special deposit or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with or for the account ofchange therein, or other acquisitions of funds by, any Lender change in the interpretation or Participant; (c) imposes, modifiesadministration thereof by any Governmental Authority charged with the interpretation or administration thereof, or deems applicable any request or directive regarding capital adequacy (whether or similar requirement (inot having the force of law) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender such Governmental Authority, has or Participant under this Agreement; or (d) imposes upon any Lender or Participant any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, and the result of any of the foregoing is to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to would have the effect of reducing the rate of return on capital of such Lender’s Bank (or Participant’s capitalits parent) as a consequence of such Bank's obligations hereunder or its Loan to a level below that which such Bank (or its parent) could have achieved but for such adoption, taking into consideration change, request or directive by an amount reasonably deemed by it to be material, then from time to time, such Lender’s Bank shall, promptly after the occurrence of such reduction, notify the Borrower thereof, and the Borrower shall, subject to clause (c) below, pay to such Bank the amount stated in such notification as required to indemnify such Bank (or Participant’s policies its parent) against such reduction, such amount to be payable within ten days after the Borrower's receipt of such notification. (c) Each Bank will promptly notify the Borrower of any event of which it has knowledge, occurring after the date hereof, which will entitle such Bank to compensation pursuant to this Section. Before giving any such notice pursuant to this subsection (c) such Bank shall designate a different Applicable Lending Office or take such other action as it deems appropriate in its reasonable judgment if such designation or other action (x) will, in the reasonable judgment of such Bank, avoid the need for, or reduce the amount of, such compensation and (y) will not, in the reasonable judgment of such Bank, be materially disadvantageous to such Bank. A notification of any Bank claiming compensation under this Section 5.01 setting forth in reasonable detail the calculation of the additional amount or amounts to be paid to it hereunder, shall be conclusive and binding on the Borrower in the absence of manifest error. If the Borrower receives any such notification from a Bank, it shall have the right, subject to giving five Business Days' notice to the Administrative Agent, to cancel the Commitment of such Bank and, without penalty or premium but subject to Sections 2.06 and 5.04, to prepay the full outstanding principal amount of such Bank's Loan, together with accrued interest thereon and all other amounts payable to such Bank hereunder. Credit Agreement (d) Without duplication of Section 5.01(a), the Borrower shall pay to each Bank, so long as such Bank shall be required under regulations of the Board of Governors of the Federal Reserve System to maintain reserves with respect to capital adequacyliabilities or assets consisting of or including Eurocurrency Liabilities, additional interest on the unpaid principal amount of the Loan of such Bank, from and including the date of such Loan until such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) the LIBO Rate for the relevant Interest Period from (ii) the rate obtained by an amount dividing such LIBO Rate by a percentage equal to 100% minus the Eurodollar Rate Reserve Percentage of such Bank for such Interest Period, payable on each date on which interest is payable on such Lender or Participant deems Loan, provided, that if any Bank claims amounts under this clause (d) in respect of its Loan, the Borrower shall have the right, subject to be material giving five Business Days' notice to it, then such Lender or Participant shall from time to time cause the Administrative Agent without penalty or premium but subject to notify DART Sections 2.06 and 5.04, to prepay the principal amount of the amount such Loan, together with accrued interest thereon and all other amounts payable to such Bank hereunder. Such additional interest shall be determined in good faith (using any reasonable averaging and attribution methods) by such Lender or Participant (which determination shall be conclusive absent manifest error) Bank and notified to be necessary to compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Borrower through the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10.

Appears in 1 contract

Sources: Credit Agreement (Copamex Industries Inc)

Additional Costs. If any law or guideline or interpretation or application (a) subjects If, as a result of any Regulatory Change: (i) any Lender or Participant any Issuing Lender shall be subject to any tax of any kind whatsoever with respect to amounts payable to it under this Agreement or changes any Eurodollar Loan made by it, or the basis of taxation with of payments to such Lender or such Issuing Lender in respect to this Agreement or thereof is changed (except, in each case, for Non-Excluded Taxes covered by Section 2.14, taxes described in clauses (x) through (z) of Section 2.14(a), net income taxes, franchise taxes, and branch profits taxes, and changes in the Loan Notes, or payments by DART rate of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes tax on the overall net income or share capital of such Lender or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is located);; or (bii) imposes, modifies, or deems applicable any reserve, special deposit deposit, capital adequacy, liquidity, compulsory loan or similar requirement against credits requirements relating to any extensions of credit or commitments to extend credit extended by, other assets (funded or contingent) of, or any deposits with or for the account other liabilities of, or other acquisitions of funds by, any Lender or Participant; (c) imposesany Issuing Lender, modifies, which requirements are generally applicable to extensions of credit or deems applicable any capital adequacy or similar requirement (i) against other assets (funded or contingent) of, or credits deposits with or commitments to extend credit extended byother liabilities of, such Lender or such Issuing Lender, are imposed, modified, or deemed applicable; or (iii) any other condition affecting this Agreement, any Eurodollar Loans or any Letter of Credit or participation therein is imposed on any Lender or Participantany Issuing Lender after the date hereof, or (ii) otherwise which condition is generally applicable to loans made by such Lender or such Issuing Lender; and any Lender or any Issuing Lender, as the obligations case may be, determines that, by reason thereof, the cost to such Lender or Issuing Lender (or a holding company of any Lender or Participant under this Agreement; or (dIssuing Lender) imposes upon of making or maintaining its Commitment or any Lender or Participant any other condition or expense with respect of its Eurodollar Loans to this Agreementthe Borrower, or the Loan Notescost (including reduced rate of return) to such Lender or Issuing Lender of participating in, issuing or its makingmaintaining any Letter of Credit, maintenance or funding of any loan or other credit as the case may be, is increased or any commitment amount receivable by such Lender or security therefor, and the result Issuing Lender hereunder in respect of any of the foregoing such Loans or Letters of Credit is to increase directly reduced or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or ParticipantIssuing Lender’s capital, (or holding company’s) capital is reduced (taking into consideration such Lender’s or Participantholding company’s policies with respect to capital adequacy) adequacy and liquidity), in each case by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) reasonably deemed by such Lender or Participant (which determination shall be conclusive absent manifest error) Issuing Lender to be necessary material (such increases in cost and reductions in amounts receivable being herein called “Additional Costs”),then the Borrower shall pay to such Lender or Issuing Lender, as the case may be, upon its request the additional amount or amounts as will compensate such Lender or Issuing Lender, as the case may be, for such Additional Costs within 15 Business Days after written notice of such Additional Costs is received by the Borrower; provided, however, that if all or any such Additional Costs would not have been payable or incurred but for such Lender’s or Issuing Lender’s voluntary decision to designate a new Lending Office, the Borrower shall have no obligation under this Section 2.13 to compensate such Lender or Participant Issuing Lender for such increaseamount relating to such Lender’s or Issuing Lender’s decision; provided, reduction or disposition. Such amount further, that the Borrower shall not be due and payable by DART required to make any payments to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from Issuing Lender for Additional Costs incurred more than 60 days prior to the date of the Administrative Agent’s notice. A certificate by that such Lender or Participant Issuing Lender, as the case may be, notifies the Borrower of such Lender’s or Issuing Lender’s intention to claim compensation therefor. (b) Without limiting the amount due and payable under this Section from time to time and the method effect of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.102.13(a) (but without duplication thereof), the Borrower will pay to any Lender, within 15 Business Days of receipt by the Borrower of notice from such Lender, for each day such Lender is required to maintain reserves against “Eurocurrency liabilities” under Regulation D of the Board as in effect on the date of this Agreement, an additional amount determined by such Lender equal to the product of the following: (i) the principal amount of the Eurodollar Loan; (ii) the remainder of (x) a fraction the numerator of which is the Eurodollar Rate for such Eurodollar Loan and the denominator of which is one minus the rate at which such reserve requirements are imposed on such Lender on such day minus (y) such numerator; and (iii) 1/360. Such Lender shall request payment under this Section 2.13(b) by giving notice to the Borrower as of the last day of each Interest Period for each Eurodollar Loan (and, if such Interest Period exceeds three months’ duration, also as of three months, or a whole multiple thereof, after the first day of such Interest Period). Such notice shall specify the basis for requesting such compensation and the method for determining the amount thereof. Such Lender shall provide any evidence of such requirement to maintain reserves as the Borrower may reasonably request. (c) Notwithstanding anything herein to the contrary, (i) all requests, rules, guidelines, requirements and directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or by United States or foreign regulatory authorities, in each case pursuant to Basel III, and (ii) the ▇▇▇▇-▇▇▇▇▇ ▇▇▇▇ Street Reform and Consumer Protection Act and all requests, rules, guidelines, requirements and directives thereunder or issued in connection therewith or in implementation thereof, shall in each case be deemed to be a Regulatory Change, regardless of the date enacted, adopted, issued or implemented. (d) Each Lender will notify the Borrower and the Administrative Agent of any Regulatory Change occurring after the date of this Agreement which will entitle such Lender or Issuing Lender, as the case may be, to compensation pursuant to Section 2.13(a) or (c) as promptly as practicable after it obtains knowledge thereof and determines to request such compensation. If such Lender or Issuing Lender requests compensation under Section 2.13(a) or (c), the Borrower may, by notice to such Lender or Issuing Lender, as applicable, require that such Lender or Issuing Lender forward to the Borrower a statement setting forth the basis for requesting such compensation and the method for determining the amount thereof. Determinations by any Lender or Issuing Lender for purposes of this Section 2.13 of the effect of any Regulatory Change shall be conclusive, provided that such determinations are made absent manifest error.

Appears in 1 contract

Sources: Credit Agreement

Additional Costs. If any law or guideline or interpretation or application (a) subjects If the adoption of, or any change in, any Requirement of Law or in the interpretation or application thereof or compliance by any Lender with any request or Participant directive (whether or not having the force of law) from any central bank or other Governmental Authority or the NAIC made subsequent to the date hereof (or, with respect to the Existing Letters of Credit, made subsequent to their date of issuance (without regard to any deemed issuance on the Closing Date for purposes of Section 2.03) if before the date hereof): (i) shall subject any Lender to any tax of any kind whatsoever with respect to this Agreement, any Note, any Letter of Credit or changes any Lender's participation therein, any Letter of Credit Document or any LIBOR Loan made by it or change the basis of taxation with of payments to such Lender in respect to this Agreement or the Loan Notes, or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes thereof (except for taxes covered by Section 5.06 and changes in the rate of tax on the overall net income or share capital of such Lender or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is located); (bii) imposesshall impose, modifies, modify or deems hold applicable any reserve, special deposit deposit, compulsory loan or similar requirement against credits or commitments to extend credit extended assets held by, assets (funded deposits or contingent) of, deposits with other liabilities in or for the account of, advances, loans or other acquisitions extensions of credit by, or any other acquisition of funds by, any office of such Lender or Participant; (c) imposeswhich is not otherwise included in the determination of the LIBOR Rate hereunder, modifiesincluding, or deems applicable without limitation, the imposition of any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable reserves with respect to the obligations of any Lender or Participant Eurocurrency Liabilities under this AgreementRegulation D; or (diii) imposes upon any shall impose on such Lender or Participant any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, condition; and the result of any of the foregoing is to increase directly or indirectly the cost toto such Lender, by an amount which such Lender deems to be material, of making, converting into, continuing or maintaining LIBOR Loans or issuing or participating in Letters of Credit or to reduce any amount receivable hereunder in respect thereof then, in any such case, Borrower shall promptly pay such Lender, upon its demand, any additional amounts necessary to compensate such Lender for such increased cost or reduced amount receivable. If any Lender becomes entitled to claim any additional amounts pursuant to this subsection, it shall promptly notify Borrower, through the income receivable byAdministrative Agent, of the event by reason of which it has become so entitled. A certificate as to any additional amounts pursuant to this Section 5.01 submitted by such Lender, through the Administrative Agent, to Borrower shall be conclusive in the absence of clearly demonstrable error. This covenant shall survive the termination of this Agreement and the payment of the Notes all other amounts payable hereunder. (b) In the event that any Lender shall have determined that the adoption of any law, rule, regulation or impose guideline regarding capital adequacy (or any expense (including loss of marginchange therein or in the interpretation or application thereof) upon or compliance by any Lender or Participant any corporation controlling such Lender with respect to this Agreementany request or directive regarding capital adequacy (whether or not having the force of law) from any central bank or Governmental Authority, including, without limitation, the Loan Notes, or the making, maintenance or funding issuance of any loan (orfinal rule, in the case of any capital adequacy regulation or similar requirementguideline, to does or shall have the effect of reducing the rate of return on such Lender’s 's or Participant’s capitalsuch corporation's capital as a consequence of its obligations hereunder or under any Letter of Credit to a level below that which such Lender or such corporation could have achieved but for such adoption, change or compliance (taking into consideration such Lender’s 's or Participant’s such corporation's policies with respect to capital adequacy) by an amount which deemed by such Lender or Participant deems to be material to itmaterial, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) time, after submission by such Lender or Participant to Borrower (which determination shall be conclusive absent manifest error) with a copy to be necessary to compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from of a written request therefor, Borrower shall promptly pay to such Lender such additional amount or amounts as will compensate such Lender for such reduction. (c) Each Lender shall notify Borrower of any event occurring after the date of this Agreement that will entitle such Lender to compensation under paragraph (a) or (b) of this Section 5.01 as promptly as practicable, but in any event within 120 days after such Lender obtains actual knowledge thereof; PROVIDED, HOWEVER, that if any Lender fails to give such notice within 120 days after it obtains actual knowledge of such an event, such Lender shall, with respect to compensation payable pursuant to this Section 5.01 in respect of any costs resulting from such event, only be entitled to payment under this Section 5.01 for costs incurred from and after the Administrative Agent’s date 120 days prior to the date that such Lender does give such notice. A Each Lender will furnish to Borrower a certificate setting forth the basis, amount and reasonable detail of computation of each request by such Lender for compensation under paragraph (a) or Participant as to the amount due and payable under (b) of this Section from time to time 5.01, which certificate shall, except for demonstrable error, be final, conclusive and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10binding for all purposes.

Appears in 1 contract

Sources: Credit Agreement (Imco Recycling Inc)

Additional Costs. If any law or guideline or interpretation or application (a) subjects If the adoption of, or any change ---------------- in, any Requirement of Law or in the interpretation or application thereof or compliance by any Lender with any request or Participant directive (whether or not having the force of law) from any central bank or other Governmental Authority or the NAIC made subsequent to the date hereof: (i) shall subject any Lender to any tax of any kind whatsoever with respect to this Agreement, any Note, any Letter of Credit or changes any Lender's participation therein, any Letter of Credit Document or any LIBOR Loan made by it or change the basis of taxation with of payments to such Lender in respect to this Agreement or the Loan Notesthereof (except, or payments by DART of principalin each case, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes excluded from the definition of Covered Taxes covered by Section 5.06 and changes in the rate of tax on the overall net income or share capital of such Lender or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is located); (bii) imposesshall impose, modifies, modify or deems hold applicable any reserve, special deposit deposit, compulsory loan or similar requirement against credits or commitments to extend credit extended assets held by, assets (funded deposits or contingent) of, deposits with other liabilities in or for the account of, advances, loans or other acquisitions extensions of credit by, or any other acquisition of funds by, any office of such Lender or Participant; (c) imposeswhich is not otherwise included in the determination of the LIBOR Rate hereunder, modifiesincluding, or deems applicable without limitation, the imposition of any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable reserves with respect to the obligations of any Lender or Participant Eurocurrency Liabilities under this AgreementRegulation D; or (diii) imposes upon any shall impose on such Lender or Participant any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, condition; and the result of any of the foregoing is to increase directly or indirectly the cost toto such Lender, by an amount which such Lender deems to be material, of making, converting into, continuing or maintaining LIBOR Loans or issuing or participating in Letters of Credit or to reduce any amount receivable hereunder in respect thereof then, in any such case, to the income receivable byextent permitted by law, Borrower shall pay within 15 days such Lender, upon its demand, any additional amounts necessary to compensate such Lender for such increased cost or impose reduced amount receivable. If any expense Lender becomes entitled to claim any additional amounts pursuant to this subsection, it shall promptly notify Borrower, through Administrative Agent, of the event by reason of which it has become so entitled. A certificate as to any additional amounts setting forth the calculation of such additional amounts pursuant to this Section 5.01 submitted by such Lender, through Administrative Agent, to Borrower shall be conclusive in the absence of clearly demonstrable error. This covenant shall survive the termination of this Agreement and the payment of the Notes all other amounts payable hereunder. (including loss b) In the event that any Lender shall have in good faith determined that the adoption of marginany law, rule, regulation or guideline regarding capital adequacy (or any change therein or in the interpretation or application thereof) upon or compliance by any Lender or Participant any corporation controlling such Lender with respect to this Agreementany request or directive regarding capital adequacy (whether or not having the force of law) from any central bank or Governmental Authority, including, without limitation, the Loan Notes, or the making, maintenance or funding issuance of any loan (orfinal rule, in the case of any capital adequacy regulation or similar requirementguideline, to does or shall have the effect of reducing the rate of return on such Lender’s 's or Participant’s capitalsuch corporation's capital as a consequence of its obligations hereunder or under any Letter of Credit to a level below that which such Lender or such corporation could have achieved but for such adoption, change or compliance (taking into consideration such Lender’s 's or Participant’s such corporation's policies with respect to capital adequacy) by an amount which deemed by such Lender or Participant deems to be material to itmaterial, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) time, after submission by such Lender to Borrower (with a copy to Administrative Agent) of a written request therefor, to the extent permitted by law, Borrower shall within 15 days pay to such Lender such additional amount or Participant (which determination shall be conclusive absent manifest error) to be necessary to amounts as will compensate such Lender or Participant for such increasereduction. (c) Each Lender (and Issuing Lender) shall notify Borrower of any event that will entitle such Lender (or Issuing Lender, reduction as the case may be) to compensation under paragraph (a) or disposition. Such (b) of this Section 5.01 as promptly as practicable, but in any event within 90 days after such Lender (or Issuing Lender, as the case may be) obtains actual knowledge thereof; provided, however, ----------------- that (i) if any Lender (or Issuing Lender, as the case may be) fails to give such notice within 90 days after it obtains actual knowledge of such an event, such Lender (or Issuing Lender, as the case may be) shall, with respect to compensation payable pursuant to this Section 5.01 in respect of any costs resulting from such event, only be entitled to payment under this Section 5.01 for costs incurred from and after the date 90 days prior to the date that such Lender (or Issuing Lender, as the case may be) does give such notice and (ii) each Lender (or Issuing Lender, as the case may be), will designate a different Applicable Lending Office for the Loans of such Lender (or the Letters of Credit, as the case may be) affected by such event if such designation will avoid the need for, or reduce the amount shall of, such compensation and will not, in the sole opinion of such Lender (or Issuing Lender, as the case may be), be due and payable by DART disadvantageous to such Lender (or Participant Issuing Lender, as the case may be). Each Lender (or Issuing Lender, as directed by the Administrative Agentcase may be) within 10 Business Days from will furnish to Borrower at the date time of request for compensation under paragraph (a) or (b) of this Section 5.01 a certificate setting forth the Administrative Agent’s notice. A certificate basis, amount and reasonable detail of computation of each request by such Lender for compensation under paragraph (a) or Participant as to the amount due and payable under (b) of this Section from time to time 5.01, which certificate shall, except for demonstrable error, be final, conclusive and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10.binding for all purposes

Appears in 1 contract

Sources: Credit Agreement (Krasovec Frank P)

Additional Costs. If any law or guideline or interpretation or application (a) subjects If, on or after the date hereof, the adoption of any Requirement of Law, or any change in any Requirement of Law, or any change in the interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration thereof, or compliance by any Lender (or Participant to its Applicable Lending Office) with any tax request or changes directive (whether or not having the basis force of taxation with respect to this Agreement law) of any such Governmental Authority, shall impose, modify or the Loan Notesdeem applicable any reserve (including, or payments by DART of principalwithout limitation, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes on the overall net income or share capital of any such Lender or Participant requirement imposed by the jurisdiction in which Board of Governors of the Lender’s or Participant’s principal office is locatedFederal Reserve System); (b) imposes, modifies, or deems applicable any reserve, special deposit deposit, contribution, insurance assessment or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with or for the account of, or other acquisitions of funds by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender (or Participant, its Applicable Lending Office) or (ii) otherwise applicable to the obligations of shall impose on any Lender (or Participant under this Agreement; or (dits Applicable Lending Office) imposes upon any Lender or Participant the London interbank market any other condition or expense with respect to this Agreementaffecting its Loan, or the Loan Notes, its Note or its making, maintenance or funding of any loan or other credit or any commitment or security thereforCommitment, and the result of any of the foregoing is to increase directly or indirectly the cost toto such Lender (or its Applicable Lending Office) of making or maintaining its Loan, or to reduce the income amount of any sum received or receivable byby such Lender (or its Applicable Lending Office) under this Agreement or under its Note, by an amount reasonably deemed by such Lender to be other than de minimis (other than Taxes, which shall be treated in accordance with Section 5.05 hereof), then from time to time, within ten (10) days after demand by such Lender, the Borrower shall pay to such Lender such additional amount or amounts as will compensate such Lender for such increased cost or reduction. (b) If any Lender shall have determined that, on or after the date hereof, the adoption of any Requirement of Law regarding capital adequacy, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Noteschange therein, or any change in the makinginterpretation or administration thereof by any Governmental Authority charged with the interpretation or administration thereof, maintenance or funding any request or directive regarding capital adequacy (whether or not having the force of law) of any loan (orsuch Governmental Authority, in the case of any capital adequacy has or similar requirement, to would have the effect of reducing the rate of return on capital of such Lender (or its direct or indirect parent) as a consequence of such Lender’s 's obligations hereunder or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect its Loan to capital adequacy) by an amount a level below that which such Lender (or Participant deems to be material to itits direct or indirect parent) could have achieved but for such adoption, change, request or directive, then such Lender or Participant shall from time to time cause time, within ten (10) days after demand by such Lender, the Administrative Agent Borrower shall pay to such Lender such additional amount or amounts as will compensate such Lender (or its direct or indirect parent) for such reduction. (c) Each Lender will promptly notify DART the Borrower of any event of which it has knowledge, occurring after the date hereof, which will entitle such Lender to compensation pursuant to this Section 5.01. Before or promptly after giving any such notice pursuant to this subsection (c) such Lender shall use commercially reasonable efforts to designate a different Applicable Lending Office if such designation, in the sole and absolute judgment of such Lender, (x) will avoid the need for, or reduce the amount of, such compensation and (y) will not be disadvantageous to such Lender in any respect other than de minimis administrative costs associated with any such designation which will be reimbursed in full by the Borrower. Such Lender shall furnish to the Borrower a certificate setting forth the basis and amount of each request for compensation pursuant to this Section 5.01, which certificate shall provide reasonable details as to the assumptions used in determining such amounts and the manner in which such amounts were calculated. Determinations and allocations for purposes of this Section 5.01(c) of the amount determined effect of any change described in good faith paragraph (using any reasonable averaging and attribution methodsa) or (b) of this Section 5.01 on such Lender's cost of maintaining its Loan, or on amounts receivable by such Lender or Participant (which determination shall be conclusive absent manifest error) to be necessary in respect of its Loan, and the amounts required to compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and the method of calculating such amount 5.01 shall be conclusive and binding for all purposes, absent manifest error error, provided that such determinations and shall be provided allocations are made on a basis reasonably consistent with such Lender's treatment of customers similar to DART along the Borrower having generally similar provisions in their agreements with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10such Lender.

Appears in 1 contract

Sources: Senior Bridge Loan Agreement (Grupo Aval Acciones Y Valores S.A.)

Additional Costs. If any law or guideline or interpretation or application (a) subjects If the adoption of, or any change in, in each case after the date hereof, any Requirement of Law or in the interpretation or application thereof or compliance by any Lender with any request or Participant directive (whether or not having the force of law) from any central bank or other Governmental Authority or the NAIC made subsequent to the date hereof: (i) shall subject any Lender to any tax of any kind whatsoever with respect to this Agreement, any Term Note or changes any Term Loan made by it or change the basis of taxation with of payments to such Lender in respect to this Agreement or the Loan Notes, or payments thereof by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes any Governmental Authority (except for taxes Taxes covered by or expressly excluded from coverage by Section 5.06 and changes in the rate of tax on the overall net income or share capital of such Lender or Participant imposed its Applicable Lending Office, or any affiliate thereof or franchise tax by the jurisdiction in which the Lender’s or Participant’s principal office is locatedany Governmental Authority); (bii) imposesshall impose, modifies, modify or deems hold applicable any reserve, special deposit deposit, compulsory loan or similar requirement against credits or commitments to extend credit extended assets held by, assets (funded deposits or contingent) of, deposits with other liabilities in or for the account of, advances, loans or other acquisitions extensions of credit by, or any other acquisition of funds by, any office of such Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) which is not otherwise applicable to included in the obligations determination of any Lender or Participant under this Agreementthe LIBOR Rate hereunder; or (diii) imposes upon any shall impose on such Lender or Participant any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, (excluding Taxes); and the result of any of the foregoing is to increase directly or indirectly the cost toto such Lender, by an amount which such Lender reasonably deems to be material, of making, converting into, continuing or maintaining LIBOR Loans or to reduce any amount receivable hereunder in respect thereof then, in any such case, Borrower shall pay such Lender, upon its written demand, within 30 days any additional amounts necessary to compensate such Lender for such increased cost or reduced amount receivable. If any Lender becomes entitled to claim any additional amounts pursuant to this subsection, it shall promptly notify Borrower, through Administrative Agent, of the income receivable byevent by reason of which it has become so entitled. A certificate as to any additional amounts setting forth the calculation of such additional amounts pursuant to this Section 5.01 submitted by such Lender, through Administrative Agent, to Borrower shall be conclusive in the absence of clearly demonstrable error. Without limiting the survival of any other covenant hereunder, this Section 5.01 shall survive the termination of this Agreement and the payment of the Term Notes and all other amounts payable hereunder. (b) In the event that any Lender shall have reasonably determined that the adoption after the date hereof of any law, rule, regulation or impose guideline regarding capital adequacy (or any expense (including loss of marginchange after the date hereof therein or in the interpretation or application thereof) upon or compliance by any Lender or Participant any corporation controlling such Lender with respect any request or directive regarding capital adequacy (whether or not having the force of law) from any central bank or Governmental Authority or the NAIC, in each case, made subsequent to this Agreementthe date hereof including, without limitation, the Loan Notes, or issuance after the making, maintenance or funding date hereof of any loan (orfinal rule, in the case of any capital adequacy regulation or similar requirementguideline, to does or shall have the effect of reducing the rate of return on such Lender’s 's or Participant’s capitalsuch corporation's capital as a consequence of its obligations hereunder to a level below that which such Lender or such corporation could have achieved 44 -38- but for such adoption, change or compliance (taking into consideration such Lender’s 's or Participant’s such corporation's policies with respect to capital adequacy) by an amount which reasonably deemed by such Lender or Participant deems to be material to itmaterial, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) time, after submission by such Lender to Borrower (with a copy to Administrative Agent) of a written request therefor, Borrower shall pay to such Lender within 30 days such additional amount or Participant (which determination shall be conclusive absent manifest error) to be necessary to amounts as will compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10reduction.

Appears in 1 contract

Sources: Credit Agreement (Aether Systems Inc)

Additional Costs. If any law or guideline or interpretation or application (a) subjects If the adoption of any Applicable Law, or any change in any Applicable Law, or any change in the interpretation or administration thereof by any Governmental Authority charged with the interpretation or administration thereof, or compliance by any Lender (or Participant to its Applicable Lending Office) with any tax request or changes directive (whether or not having the basis force of taxation with respect to this Agreement law) of any Governmental Authority, shall impose, modify or the Loan Notes, or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes deem applicable any reserve (except for taxes on the overall net income or share capital of including any such Lender or Participant requirement imposed by the jurisdiction in which Board of Governors of the Lender’s or Participant’s principal office is locatedU.S. Federal Reserve System); (b) imposes, modifies, or deems applicable any reserve, special deposit deposit, insurance assessment or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with or for the account of, or other acquisitions of funds by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender (or Participant, its Applicable Lending Office) or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; or (d) imposes shall impose upon any Lender (or Participant its Applicable Lending Office) any other condition or expense with respect to this Agreementaffecting its Loans, or the Loan Notes, its Peruvian Promissory Notes or its making, maintenance or funding of any loan or other credit or any commitment or security thereforobligation to make its Loans, and the result of any of the foregoing is to increase directly or indirectly the cost toto such Lender (or its Applicable Lending Office) of making or maintaining its Loans, or to reduce the income amount of any sum received or receivable byby such Lender (or its Applicable Lending Office) under this Agreement or under any other Loan Document (other than Taxes, which shall be treated pursuant to Section 4.4), then the Borrower agrees to pay to the Administrative Agent for the account of such Lender such additional amount(s) as will compensate such Lender for such increased cost or reduction. (b) If any Lender shall have determined that the adoption of any Applicable Law regarding capital adequacy, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Noteschange therein, or any change in the makinginterpretation or administration thereof by any Governmental Authority charged with the interpretation or administration thereof, maintenance or funding compliance by it (or its Applicable Lending Office) with any request or directive regarding capital adequacy (whether or not having the force of law) of any loan Governmental Authority (orin each case above, in at any time on or after the case of any capital adequacy date hereof), has or similar requirement, to would have the effect of reducing the rate of return on capital of such Lender (or its parent or Applicable Lending Office) as a consequence of such Lender’s obligations hereunder or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect its Loans to capital adequacy) by an amount a level below that which such Lender (or Participant deems to be material to itits parent or Applicable Lending Office) could have achieved but for such adoption, change, request or directive, then such Lender or Participant shall from time to time cause the Borrower agrees to pay to such Lender such additional amount as will compensate such Lender (or its parent or Applicable Lending Office, as the case may be) for such reduction. (c) Each Lender shall promptly (and, in any event, within 180 days of its actual knowledge thereof) notify the Administrative Agent of any event of which it has knowledge that will entitle such Lender to notify DART compensation pursuant to this Section and shall provide the Administrative Agent with reasonable detail as to the basis of such Lender’s claim to compensation hereunder and method for calculating such compensation. Before giving any such notice, a Lender shall designate a different Applicable Lending Office if such designation: (i) will avoid the need for, or reduce the amount determined of, such compensation and (ii) will not, in good faith (using the judgment of such Lender, be disadvantageous to such Lender. A notice of any reasonable averaging Lender claiming compensation under this Section and attribution methods) by such Lender or Participant (which determination providing the information set forth above within the time set forth above shall be conclusive absent manifest error) evidence of its entitlement to be necessary to compensate such Lender or Participant for such increase, reduction or disposition. Such amount compensation and shall be due and payable by DART to such Lender or Participant (as directed by binding upon the Administrative Agent) within 10 Business Days from Borrower in the date absence of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and such amounts shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited payable by the provisions Borrower promptly (and, in any event, within five (5) Business Days) after receipt by the Borrower of Section 8.10such notice (or, if such compensation relates to future dates, by no later than the applicable dates indicated in such notice).

Appears in 1 contract

Sources: Credit Agreement (BPZ Resources, Inc.)

Additional Costs. If any law or guideline or interpretation or application (a) subjects any Borrower hereby irrevocably agrees to reimburse and indemnify Lender or Participant to any tax or changes the basis of taxation from all increased costs and fees incurred by Lender in connection with respect to this Agreement subsequent to the Effective Date and relating to or arising from (x) the Loan Notesoffering of rates of interest based upon the LIBOR Rate or (y) a change in government regulation. Without limiting the generality of the foregoing, or payments by DART if (any of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes on the overall net income or share capital of such Lender or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is located); (b) imposes, modifies, or deems applicable any reserve, special deposit or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with or for the account of, or other acquisitions of funds by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement following being a “Change”): (i) against assets (funded or contingent) ofany law, rule, regulation, guideline, or credits directive (in each case whether or commitments to extend credit extended bynot having the force of law) is passed, any Lender enacted, promulgated, ordered, issued or Participantadopted after the Effective Date, or (ii) otherwise applicable to there is any change after the obligations Effective Date in any law, rule, regulation, guideline, or directive (in each case whether or not having the force of law and including, without limitation, any Lender request, rule, guideline or Participant under this Agreement; or directive (dA) imposes upon in connection with the ▇▇▇▇-▇▇▇▇▇ ▇▇▇▇ Street Reform and Consumer Protection Act (as amended, the “▇▇▇▇-▇▇▇▇▇ Act”) or (B) enacted, promulgated, adopted, issued or implemented by the Bank of International Settlements, the Basel Committee on Banking Supervision (or any Lender successor or Participant any other condition or expense with respect to this Agreementsimilar authority), or the Loan NotesUnited States or foreign financial regulatory authorities), or its makingin the interpretation or administration thereof by any governmental authority, maintenance central bank or funding of any loan comparable agency charged with the interpretation, application or other credit or any commitment or security therefor, and the result administration of any of the foregoing is to foregoing, or (iii) Lender complies with any request or directive made after the Effective Date regarding capital adequacy (whether or not having the force of law) from any such authority, central bank or comparable agency, and such Change shall: (i) increase directly or indirectly the cost toto Lender, reduce by an amount which Lender deems to be material, of making, converting into, continuing or maintaining any portion of any advance subject to the income receivable byLIBOR Rate, or impose reduce any expense amount receivable hereunder in respect thereof, or (including loss of marginii) upon any Lender or Participant with respect to this Agreement, the Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or Participant’s capitalcapital as a consequence of its obligations hereunder, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) any LIBOR Rate Loan or Prime Rate Loan, to a level below that which Lender could have achieved but for such Change by an amount which such deemed by Lender or Participant deems to be material material,then, in any and each such case, after submission by Lender to itBorrower of a written request therefor, then Borrower shall pay Lender any additional amounts necessary to compensate Lender for such Lender increased cost or Participant shall from time to time cause the Administrative Agent to notify DART reduction. Lender’s reasonable determination of the amount determined in good faith (using any reasonable averaging and attribution methods) by of such Lender or Participant (which determination reimbursement shall be conclusive absent in the absence of manifest error. Notwithstanding anything to the contrary contained herein, for all purposes of this Agreement and the Note, all requests, rules, guidelines and directives (I) to be necessary to compensate such Lender in connection with the ▇▇▇▇-▇▇▇▇▇ Act or Participant for such increase(II) enacted, reduction promulgated, adopted, issued or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed implemented by the Administrative Agent) within 10 Business Days from Bank of International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority), or the United States or foreign financial regulatory authorities shall, in each case, be deemed to constitute a Change whether or not such request, rule, guideline or directive has the force of law and regardless of the date of the Administrative Agent’s notice. A certificate by on which such Lender request, rule, guideline or Participant as to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10directive was enacted, promulgated, adopted, issued or implemented.

Appears in 1 contract

Sources: Credit Agreement (HCI Group, Inc.)

Additional Costs. If any law or guideline or interpretation or application (a) subjects If, as a result of any Regulatory Change: (i) any Lender or Participant any Issuing Lender shall be subject to any tax of any kind whatsoever with respect to amounts payable to it under this Agreement, or changes the basis of taxation with of payments to such Lender or such Issuing Lender in respect to this Agreement or thereof is changed (except, in each case, for Non-Excluded Taxes covered by Section 2.14, taxes described in clauses (x) through (z) of Section 2.14(a), net income taxes, franchise taxes, and branch profits taxes, and changes in the Loan Notes, or payments by DART rate of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes tax on the overall net income or share capital of such Lender Lender); or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is located);509265-1292-1635217123-Active.25783117.740387902.9 (bii) imposes, modifies, or deems applicable any reserve, special deposit deposit, capital adequacy, liquidity, compulsory loan or similar requirement against credits requirements relating to any extensions of credit or commitments to extend credit extended by, other assets (funded or contingent) of, or any deposits with or for the account other liabilities of, or other acquisitions of funds by, any Lender or Participant; (c) imposesany Issuing Lender, modifies, which requirements are generally applicable to extensions of credit or deems applicable any capital adequacy or similar requirement (i) against other assets (funded or contingent) of, or credits deposits with or commitments to extend credit extended byother liabilities of, such Lender or such Issuing Lender, are imposed, modified, or deemed applicable; or (iii) any other condition, cost or expense (other than taxes) affecting this Agreement, any Loans or any Letter of Credit or participation therein is imposed on any Lender or Participantany Issuing Lender after the date hereof, which condition, cost or expense (iiother than taxes) otherwise is generally applicable to loans made by such Lender or such Issuing Lender; and any Lender or any Issuing Lender, as the obligations case may be, determines that, by reason thereof, the cost to such Lender or Issuing Lender (or a holding company of any Lender or Participant under this Agreement; or (dIssuing Lender) imposes upon of making, continuing, converting or maintaining its Commitment or any Lender or Participant any other condition or expense with respect of its Loans to this Agreementthe Borrower, or the Loan Notescost (including reduced rate of return) to such Lender or Issuing Lender of participating in, issuing or its makingmaintaining any Letter of Credit, maintenance or funding of any loan or other credit as the case may be, is increased or any commitment amount receivable by such Lender or security therefor, and the result Issuing Lender hereunder in respect of any of the foregoing such Loans or Letters of Credit is to increase directly reduced or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or ParticipantIssuing Lender’s capital, (or holding company’s) capital is reduced (taking into consideration such Lender’s or Participantholding company’s policies with respect to capital adequacy) adequacy and liquidity), in each case by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) reasonably deemed by such Lender or Participant (which determination shall be conclusive absent manifest error) Issuing Lender to be necessary material (such increases in cost and reductions in amounts receivable being herein called “Additional Costs”), then the Borrower shall pay to such Lender or Issuing Lender, as the case may be, upon its request the additional amount or amounts as will compensate such Lender or Issuing Lender, as the case may be, for such Additional Costs within 15 Business Days after written notice of such Additional Costs is received by the Borrower; provided, however, that if all or any such Additional Costs would not have been payable or incurred but for such Lender’s or Issuing Lender’s voluntary decision to designate a new Lending Office, the Borrower shall have no obligation under this Section 2.13 to compensate such Lender or Participant Issuing Lender for such increaseamount relating to such Lender’s or Issuing Lender’s decision; provided, reduction or disposition. Such amount further, that the Borrower shall not be due and payable by DART required to make any payments to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from Issuing Lender for Additional Costs incurred more than 60 days prior to the date of the Administrative Agent’s notice. A certificate by that such Lender or Participant Issuing Lender, as the case may be, notifies the Borrower of such Lender’s or Issuing Lender’s intention to claim compensation therefor. (b) Without limiting the amount due and payable under this Section from time to time and the method effect of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.102.13(a) (but without duplication thereof), the Borrower will pay to any Lender, within 15 Business Days of receipt by the Borrower of notice from such Lender, for each day such Lender is required to maintain reserves against “Eurocurrency liabilities” under Regulation D of the Board as in effect on the date of this Agreement, an additional amount determined by such Lender equal to the product of the following: (i) the principal amount of the Eurodollar Loan; (ii) the remainder of (x) a fraction the numerator of which is the Eurodollar Rate for such Eurodollar Loan and the denominator of which is one minus the rate at 509265-1292-1635217123-Active.25783117.740387902.9 ​ which such reserve requirements are imposed on such Lender on such day minus (y) such numerator; and (iiib)1 360.[Reserved] Such Lender shall request payment under this Section 2.13(b) by giving notice to the Borrower as of the last day of each Interest Period for each Eurodollar Loan (and, if such Interest Period exceeds three months’ duration, also as of three months, or a whole multiple thereof, after the first day of such Interest Period). Such notice shall specify the basis for requesting such compensation and the method for determining the amount thereof. Such Lender shall provide any evidence of such requirement to maintain reserves as the Borrower may reasonably request. (c) Notwithstanding anything herein to the contrary, (i) all requests, rules, guidelines, requirements and directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or by United States or foreign regulatory authorities, in each case pursuant to Basel III, and (ii) the ▇▇▇▇-▇▇▇▇▇ ▇▇▇▇ Street Reform and Consumer Protection Act and all requests, rules, guidelines, requirements and directives thereunder or issued in connection therewith or in implementation thereof, shall in each case be deemed to be a Regulatory Change, regardless of the date enacted, adopted, issued or implemented. (d) Each Lender will notify the Borrower and the Administrative Agent of any Regulatory Change occurring after the date of this Agreement which will entitle such Lender or Issuing Lender, as the case may be, to compensation pursuant to Section 2.13(a) or (c) as promptly as practicable after it obtains knowledge thereof and determines to request such compensation. If such Lender or Issuing Lender requests compensation under Section 2.13(a) or (c), the Borrower may, by notice to such Lender or Issuing Lender, as applicable, require that such Lender or Issuing Lender forward to the Borrower a statement setting forth the basis for requesting such compensation and the method for determining the amount thereof. Determinations by any Lender or Issuing Lender for purposes of this Section 2.13 of the effect of any Regulatory Change shall be conclusive, provided that such determinations are made absent manifest error.

Appears in 1 contract

Sources: Credit Agreement (SOUTHERN CALIFORNIA EDISON Co)

Additional Costs. If any law or guideline or interpretation or application (a) Subject to SECTION 12.8, the Company shall pay to the Agent, on demand, for the account of such Bank, from time to time such amounts as any Bank may reasonably determine to be necessary to compensate it for any costs incurred by such Bank which such Bank reasonably determines are attributable to its making or maintaining any Eurodollar Loan hereunder or its obligation to make or maintain any such Loan hereunder, or any reduction in any amount receivable by such Bank hereunder in respect of any of such Loans or such obligation (such increases in costs and reductions in amounts receivable being herein called "ADDITIONAL COSTS"), in each case resulting from any Regulatory Change which: (1) subjects any Lender such Bank (or Participant makes it apparent that such Bank is subject) to any tax (including any United States interest equalization tax), levy, impost, duty, charge or fee (collectively, "TAXES"), or any deduction or withholding for any Taxes on or from the payment due under any Eurodollar Loan or other amounts due hereunder, other than income and franchise taxes of the jurisdiction (or any subdivision thereof) in which such Bank has an office or its Applicable Lending Office; or (2) changes the basis of taxation with respect of any amounts payable to such Bank under this Agreement or the Loan Notesits Note in respect of any of such Loans, other than changes which affect taxes measured by or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes imposed on the overall net income or share capital franchise taxes of such Lender Bank or Participant imposed of its Applicable Lending Office for any of such Loans by the jurisdiction (or any subdivision thereof) in which the Lender’s such Bank has an office or Participant’s principal office is located);such Applicable Lending Office; or (b3) imposes, modifies, imposes or modifies or increases or deems applicable any Statutory Reserves or any other reserve, special deposit or similar requirement against credits (including any such requirement imposed by the Board) relating to any extensions of credit or commitments to extend credit extended by, other assets (funded or contingent) of, or any deposits with or for the account other liabilities of, such Bank or loans made by such Bank, or against any other funds, obligations or other acquisitions of funds by, any Lender Property owned or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreementheld by such Bank; or (d4) imposes upon any Lender or Participant any other condition affecting this Agreement (or expense any of such extensions of credit or liabilities). Each Bank will notify the Company through the Agent of any event occurring after the date of this Agreement which will entitle such Bank to compensation pursuant to this SECTION 6.1 as promptly as practicable after it obtains knowledge thereof and determines to request such compensation, and (if so requested by the Company through the Agent) will designate a different available Applicable Lending Office for the Eurodollar Loans of such Bank or take such other action as the Company may reasonably request if such designation or action is consistent with the internal policy of such Bank and legal and regulatory restrictions, can be undertaken at no additional cost, will avoid the need for, or reduce the amount of, such compensation and will not, in the sole opinion of such Bank, be disadvantageous to such Bank (PROVIDED that such Bank shall have no obligation so to designate an Applicable Lending Office located in the United States of America). Each Bank will furnish the Company with a statement setting forth the basis and amount of each request by such Bank for compensation under this SECTION 6.1, with each such statement to cover amounts accruing under this SECTION 6.1 with respect to this Agreement, or a period beginning not earlier than 120 days from the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, date thereof and the result of any of the foregoing is to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Notes, or the making, maintenance or funding of any loan (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methodsmethod. (b) Without limiting the effect of the foregoing provisions of this SECTION 6.1, in the event that, by reason of any Regulatory Change, any Bank either (1) incurs Additional Costs based on or measured by the excess above a specified level of the amount of a category of deposits or other liabilities of such Lender Bank which includes deposits by reference to which the interest rate on Eurodollar Loans is determined as provided in this Agreement or Participant a category of extensions of credit or other assets of such Bank which includes Eurodollar Loans or (2) becomes subject to restrictions on the amount of such a category of liabilities or assets which determination it may hold, then, if such Bank so elects by notice to the Company (with a copy to the Agent), the obligation of such Bank to make Eurodollar Loans hereunder shall be conclusive suspended until the date such Regulatory Change ceases to be in effect (in which case the provisions of SECTION 6.4 shall be applicable). (c) Determinations and allocations by any Bank for purposes of this SECTION 6.1 of the effect of any Regulatory Change on its costs of maintaining its obligations to make Loans or of making or maintaining Eurodollar Loans or on amounts receivable by it in respect of Eurodollar Loans, and of the additional amounts required to compensate such Bank in respect of any Additional Costs, shall be conclusive, absent manifest error, and may be made using any reasonable averaging and attribution method. (d) In the event any Bank shall seek compensation pursuant to this SECTION 6.1, the Company may give notice to such Bank (with copies to the Agent) that it wishes to seek one or more Eligible Assignees (which may be one or more of the Banks) to be necessary purchase and assume the Commitment, Loans, Note and interests in this Agreement of such Bank. Each Bank requesting compensation pursuant to compensate this SECTION 6.1 agrees to sell its Commitment, Loans, Note, and interests in this Agreement pursuant to SECTION 12.6 (without recourse, representation or warranty except as provided in SECTION 12.6) to any such Lender or Participant Eligible Assignee for an amount equal to (x) the sum of the outstanding unpaid principal of and accrued and unpaid interest on such increaseLoans and Note, reduction or disposition. Such plus (y) all other fees and amounts (including any compensation claimed by such Bank under this SECTION 6.1 and including a breakage charge as if such Bank had been prepaid the amount shall be due and payable by DART of all of its outstanding Eurodollar Loans) owing to such Lender or Participant (as directed by Bank under the Administrative Agent) within 10 Business Days from Credit Documents, calculated, in each case, to the date of the Administrative Agent’s notice. A certificate by on which such Lender Commitment, Loans, Note and interests are purchased, whereupon such Bank shall have no further Commitment or Participant as other obligation to the amount due and payable Company under this Section from time Agreement or any other Credit Document in respect of matters arising after the consummation of such purchase, but shall continue to time be entitled to the benefit of, and subject to any obligations incurred by it under, this Agreement and the method other Credit Documents in respect of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with matters occurring during the notice described above. The rights of any Participant in time it was a Bank under this Section 8.01 are expressly limited by the provisions of Section 8.10Agreement.

Appears in 1 contract

Sources: 364 Day Credit Agreement (Santa Fe Snyder Corp)

Additional Costs. If any law or guideline or interpretation or application (a) subjects If the adoption of any Applicable Law, or any change in any Applicable Law, or any change in the interpretation or administration thereof by any Governmental Authority charged with the interpretation or administration thereof, or compliance by any Lender (or Participant to its Applicable Lending Office) with any tax request or changes directive (whether or not having the basis force of taxation with respect to this Agreement law) of any Governmental Authority (in each case above, at any time on or after the Loan Notesdate hereof), shall impose, modify or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes deem applicable any reserve (except for taxes on the overall net income or share capital of including any such Lender or Participant requirement imposed by the jurisdiction in which Board of Governors of the Lender’s or Participant’s principal office is locatedU.S. Federal Reserve System); (b) imposes, modifies, or deems applicable any reserve, special deposit deposit, insurance assessment or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with or for the account of, or other acquisitions of funds by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender (or Participant, its Applicable Lending Office) or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; or (d) imposes shall impose upon any Lender (or Participant its Applicable Lending Office) or the London interbank market any other condition affecting its obligation to make or expense with respect to this Agreement, or the Loan Notes, or maintain its making, maintenance or funding of any loan or other credit or any commitment or security thereforLoan, and the result of any of the foregoing is to increase directly or indirectly the cost toto such Lender (or its Applicable Lending Office) of making or maintaining its Loan, or to reduce the income amount of any sum received or receivable byby such Lender (or its Applicable Lending Office) under this Agreement or under any other Loan Document (other than Taxes (including Excluded Taxes), which shall be treated pursuant to Section 4.5), then the Borrower shall pay to the Administrative Agent for the account of such Lender such additional amount(s) as will compensate such Lender for such increased cost or reduction. (b) If any Lender shall have reasonably determined that the adoption of any Applicable Law regarding capital adequacy, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Noteschange therein, or any change in the makinginterpretation or administration thereof by any Governmental Authority charged with the interpretation or administration thereof, maintenance or funding compliance by it (or its Applicable Lending Office) with any request or directive regarding capital adequacy (whether or not having the force of law) of any loan Governmental Authority (orin each case above, in at any time on or after the case of any capital adequacy date hereof), has or similar requirement, to would have the effect of reducing the rate of return on capital of such Lender (or its parent or Applicable Lending Office) as a consequence of such Lender’s obligations hereunder or Participant’s capitalits Loan a level below that which such Lender (or its parent or Applicable Lending Office) could have achieved but for such adoption, taking into consideration change, request or directive, then upon written demand by such Lender, the Borrower, from time to time, shall pay to such Lender such additional amount as will compensate such Lender (or its parent or Applicable Lending Office, as the case may be) for such reduction. (c) Each Lender shall promptly (and, in any event, within 90 days of its actual knowledge thereof) notify the Administrative Agent (with a copy to the Borrower) of any event of which it has knowledge that will entitle such Lender to compensation pursuant to this Section and shall provide the Administrative Agent (with a copy to the Borrower) with reasonable detail as to the basis of such Lender’s or Participant’s policies with respect claim to capital adequacy) compensation hereunder and method for calculating such compensation; it being understood that any failure of any Lender to deliver any such notice within 90 days of such actual knowledge by an amount a Lender shall result in its not being able to seek compensation pursuant to this Section 4.1 for the period from and including the date of its actual knowledge of such event to but excluding the date that is 90 days before the date on which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause it has notified the Administrative Agent (with a copy to notify DART the Borrower) of such event. Before giving any such notice, a Lender shall designate a different Applicable Lending Office if such designation: (i) will avoid the need for, or reduce the amount determined of, such compensation and (ii) will not, in the good faith (using judgment of such Lender, be disadvantageous to such Lender. A notice of any reasonable averaging Lender claiming compensation under this Section 4.1 and attribution methods) by such Lender or Participant (which determination providing the information set forth above within the time set forth above shall be conclusive absent manifest error) prima facie evidence of its entitlement to be necessary to compensate such Lender or Participant for such increase, reduction or disposition. Such amount compensation and shall be due binding upon the Borrower in the absence of manifest error and such amounts shall be payable by DART the Borrower promptly (and, in any event, within five Business Days) after receipt of such notice (or, if such compensation relates to future dates, by no later than the applicable dates indicated in such Lender or Participant notice). (as directed by the Administrative Agentd) within 10 Business Days from the date For purposes of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and calculating amounts payable under this Section from time to time 4.1 and the method of calculating such amount Section 4.4, each Loan conclusively shall be conclusive absent manifest error deemed to have been funded at the LIBO Rate applicable to such Loan by a matching deposit or other purchase in the interbank eurodollar market for a comparable amount and shall be provided to DART along with the notice described above. The rights of any Participant for a comparable period, whether or not such Loan was in this Section 8.01 are expressly limited by the provisions of Section 8.10fact so funded.

Appears in 1 contract

Sources: Export Prepayment Facility Agreement (Votorantim Pulp & Paper Inc)

Additional Costs. If any law or guideline or interpretation or applicationa Change in Law: (a) subjects imposes or increases or renders applicable (other than to the extent specifically provided for elsewhere in this Agreement) any Lender special deposit, reserve, assessment, liquidity, capital adequacy or Participant to any tax other similar requirements (whether or changes not having the basis force of taxation with respect to this Agreement or the Loan Noteslaw) against assets held by, or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes on the overall net income or share capital of such Lender or Participant imposed by the jurisdiction deposits in which the Lender’s or Participant’s principal office is located); (b) imposes, modifies, or deems applicable any reserve, special deposit or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with or for the account of, or other acquisitions of funds loans by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable to the obligations of an office of any Lender or Participant under this Agreement; (including without limitation the Commitments of such Lender hereunder), or (db) imposes upon on any Lender Lender, any Issuing Bank or Participant any Agent any other condition conditions or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, and the result of any of the foregoing is to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon any Lender or Participant requirements with respect to this Agreement, the other Loan NotesDocuments, the Loans, the Letters of Credit or any class of loans of which the Loans form a part or the Commitment of such Lender, hereunder, and (c) the foregoing has the result of: (i) increasing the cost or reducing the return to any Lender, or the any Issuing Bank of making, maintenance funding, issuing, renewing, extending or funding of maintaining any loan (orLoan as a Loan, maintaining its Commitment or issuing or participating in the case Letters of any capital adequacy or similar requirementCredit, to have the effect of or (ii) reducing the rate amount of return on such Lender’s principal, interest or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect other amount payable to capital adequacy) by an amount which such Lender or Participant deems to be material to itAgent hereunder, then or (iii) requiring such Lender or Participant shall such Issuing Bank, as the case may be, to make any payment or to forego any interest or other sum payable hereunder, the amount of which payment or foregone interest or other sum is calculated by reference to the gross amount of any sum receivable or deemed received by such Lender or such Issuing Bank, as the case may be, from the Borrower hereunder, then, and in each such case, the Borrower will, upon demand made by such Lender or such Issuing Bank or Agent, as the case may be, at any time and from time to time and as often as the occasion therefor may arise, pay or cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) by be paid to such Lender or Participant (which determination shall such Issuing Bank or Agent, as the case may be, such additional amounts as will be conclusive absent manifest error) to be necessary sufficient to compensate such Lender or Participant such Issuing Bank or Agent, as the case may be, for such increaseadditional cost, reduction reduction, payment or dispositionforegone interest or other sum. Such amount shall be due and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due and payable under this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant Notwithstanding anything contained in this Section 8.01 are expressly limited by 4.04 to the provisions contrary, upon the occurrence of any event set forth in this Section 8.104.04 with respect to any Lender such affected Lender agrees to use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions) to designate an alternative Applicable Lending Office so as to avoid the effect of such event set forth in this Section 4.04.

Appears in 1 contract

Sources: Revolving Credit Agreement (DESRI Inc.)

Additional Costs. If any law present or guideline future applicable law, which expression, as used herein, includes statutes, rules and regulations thereunder and interpretations thereof by any competent court or by any governmental or other regulatory body or official charged with the administration or the interpretation thereof and requests, directives, instructions and notices at any time or applicationfrom time to time hereafter made upon or otherwise issued to the Metal Lender by any central bank or other fiscal, monetary or other authority (whether or not having the force of law), shall: (a) subjects any subject the Metal Lender or Participant to any tax or changes the basis of taxation with respect to this Agreement or the Loan Notes, or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes on the overall net income or share capital profits), levy, impost, duty, charge, fee, deduction or withholding of such Lender any nature with respect to the making of Fixed Rate Consignments, or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is located);-48- (b) imposes, modifiesmaterially change the basis of taxation (except for changes in taxes on income or profits) of payments to the Metal Lender of the principal of or the interest on Fixed Rate Consignments or any other amounts payable to the Metal Lender under this Agreement for Fixed Rate Consignments, or deems (c) impose or increase or render applicable (other than to the extent specifically provided for elsewhere in this Agreement) any special deposit, reserve, special deposit assessment, liquidity, capital adequacy or other similar requirement requirements (whether or not having the force of law) against credits or commitments to extend credit extended assets held by, assets (funded or contingent) of, deposits with in or for the account of, or other acquisitions of funds loans by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any of the Metal Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; or (d) imposes upon any Lender or Participant any other condition or expense with respect as they relate to this Agreement, or (d) impose on the Loan Notes, Metal Lender any other conditions or its making, maintenance or funding of any loan or other credit requirements with respect to Fixed Rate Consignments or any commitment or security therefor, class of commitments of which any of Fixed Rate Consignments form a part; (e) and the result of any of the foregoing is is: (i) to increase directly or indirectly the cost toto the Metal Lender of making, funding, issuing, renewing, extending or maintaining any of the Fixed Rate Consignments, or (ii) to reduce the income receivable byamount of principal, interest or other amount payable to the Metal Lender hereunder on account of any of the Fixed Rate Consignments, or impose (iii) to require the Metal Lender to make any expense (including loss of margin) upon payment or to forego any Lender interest or Participant with respect to this Agreementother sum payable hereunder, the Loan Notes, amount of which payment or foregone interest or other sum is calculated by reference to the making, maintenance or funding gross amount of any loan (or, in the case of any capital adequacy sum receivable or similar requirement, to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) by such Lender or Participant (which determination shall be conclusive absent manifest error) to be necessary to compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed deemed received by the Administrative Agent) within 10 Business Days from Metal Lender for the date of Customers hereunder, then, and in each such case, the Administrative Agent’s notice. A certificate Customers will, upon demand by such Lender or Participant as to the amount due Metal Lender, at any time and payable under this Section from time to time and as often as the method of calculating occasion therefor may arise, pay to the Metal Lender such amount shall additional amounts as will be conclusive absent manifest error and shall be provided sufficient to DART along with compensate the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10Metal Lender for such additional cost, reduction, payment or foregone interest or other sum.

Appears in 1 contract

Sources: Consignment Agreement (MATERION Corp)

Additional Costs. If any law or guideline or interpretation or application (a) subjects If, in respect of all or any Lender portion of any Facility B Lender's commitment hereunder, any Eurodollar Rate Borrowing, or Participant any Fixed Rate Borrowing owed to any tax Facility B Lender (i) any present or changes the basis of taxation with respect to this Agreement or the Loan Notesfuture Law shall impose, modify, or payments deem applicable, or compliance by DART such Facility B Lender with any requirement (whether or not having the force of principalLaw) of any Governmental Authority shall result in, interestany requirement that any reserves (including, fees without limitation, any marginal, emergency, supplemental, special, or other amounts due from DART reserves) be maintained, and (ii) any of the same results in a reduction in any sums receivable by such Facility B Lender hereunder or under an increase in the Loan Notes costs incurred by such Facility B Lender in advancing or maintaining any portion of any Eurodollar Rate Borrowing or any Fixed Rate Borrowing, then (except A) such Facility B Lender (through Administrative Agent) shall notify Borrower upon becoming aware of same and deliver to Borrower a certificate setting forth in reasonable detail the amount necessary to compensate such Facility B Lender for taxes on the overall net income such reduction or share capital of such increase (which certificate shall be conclusive and binding as to such amount, absent manifest error), and (B) Borrower shall promptly pay such amount to such Facility B Lender or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is located);within ten (10) days after demand therefor. (b) imposes, modifies, If with respect to all or deems applicable any reserve, special deposit or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with or for the account of, or other acquisitions portion of funds byany Borrowing, any Lender present or Participant; (c) imposes, modifies, or deems applicable any future Law regarding capital adequacy or similar requirement (i) against assets (funded compliance by Administrative Agent or contingent) ofany Facility B Lender or its holding company with any request, directive, or credits requirement now existing or commitments to extend credit extended by, hereafter imposed by any Lender Governmental Authority regarding capital adequacy (whether or Participantnot having the force of Law), or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; or (d) imposes upon any Lender or Participant any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, and the result of any of the foregoing is to increase directly or indirectly the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon any Lender or Participant with respect to this Agreement, the Loan Notes, or the making, maintenance or funding of any loan (or, change in the case risk category of any capital adequacy or similar requirement, to have the effect of reducing this transaction shall result in a reduction in the rate of return on such any Facility B Lender’s 's or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect Administrative Agent's capital as a consequence of its obligations under this Facility B Agreement to capital adequacy) a level below that which it otherwise could have achieved by an amount which such Lender or Participant deems deemed by it to be material to it(and it may, in determining such amount, utilize such assumptions and allocations of costs and expenses as it shall deem reasonable and may use any reasonable averaging or attribution method), then (unless the effect of such Lender or Participant shall from time to time cause event is already reflected in the rate of interest then applicable hereunder) Administrative Agent or such Facility B Lender (through Administrative Agent) shall notify Borrower and deliver to notify DART Borrower a certificate setting forth in reasonable detail the calculation of the amount determined in good faith (using any reasonable averaging and attribution methods) by necessary to compensate Administrative Agent or such Facility B Lender or Participant (its holding company therefor, which determination certificate shall be conclusive and binding absent manifest error, and Borrower shall promptly pay such amount to Administrative Agent (for the account of such Facility B Lender) to be necessary to compensate or such Facility B Lender or Participant for such increase, reduction or dispositionwithin ten (10) days after demand therefor. Such amount The provisions of and undertakings and indemnifications set forth in this SECTION 3.16 shall be due survive the satisfaction and payable by DART to such Lender or Participant (as directed by the Administrative Agent) within 10 Business Days from the date payment of the Administrative Agent’s notice. A certificate by such Lender or Participant as to the amount due Obligation and payable under termination of this Section from time to time and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10Facility B Agreement.

Appears in 1 contract

Sources: Revolving Credit and Term Loan Agreement (Worldcom Inc /Ga/)

Additional Costs. If any law or guideline or interpretation or application (a) subjects If the adoption of, or any change in, any Requirement of Law or in the interpretation or application thereof or compliance by any Lender with any request or directive (whether or not having the force of law) from any central bank or other Governmental Authority or the NAIC made subsequent to the Original Closing Date: (i) shall subject any Lender or Participant Issuing Lender to any tax of any kind whatsoever with respect to this Agreement, any Note, any Letter of Credit or changes any Lender's participation therein, any Letter of Credit Document or any LIBOR Loan made by it or change the basis of taxation with of payments to such Lender in respect to this Agreement or the Loan Notes, or payments thereof by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes any Governmental Authority (except for taxes covered by or expressly excluded from coverage by Section 5.06 and changes in the rate of tax on the overall net income or share capital of such Lender or Participant imposed its Applicable Lending Office, or any affiliate thereof or franchise tax by the jurisdiction in which the Lender’s or Participant’s principal office is locatedany Governmental Authority); (bii) imposesshall impose, modifies, modify or deems hold applicable any reserve, special deposit deposit, compulsory loan or similar requirement against credits or commitments to extend credit extended assets held by, assets (funded deposits or contingent) of, deposits with other liabilities in or for the account of, advances, loans or other acquisitions extensions of credit by, or any other acquisition of funds by, any office of such Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments to extend credit extended by, any Issuing Lender or Participant, or (ii) which is not otherwise applicable to included in the obligations determination of any Lender or Participant under this Agreementthe LIBOR Rate hereunder; or (diii) imposes upon any shall impose on such Lender or Participant Issuing Lender any other condition or expense with respect to this Agreement, or the Loan Notes, or its making, maintenance or funding of any loan or other credit or any commitment or security therefor, (excluding taxes); and the result of any of the foregoing is to increase directly or indirectly the cost toto such Lender or Issuing Lender, by an amount which such Lender or Issuing Lender deems to be material, of making, converting into, continuing or maintaining LIBOR Loans or issuing or participating in Letters of Credit or to reduce any amount receivable hereunder in respect thereof then, in any such case, Borrower shall promptly pay such Lender or Issuing Lender, upon its written demand, any additional amounts necessary to compensate such Lender or Issuing Lender for such increased cost or reduced amount receivable; PROVIDED, HOWEVER, that a Lender that is an assignee or transferee of an interest under this Agreement pursuant to Section 2.11 or 12.06 that was already a Lender hereunder immediately prior to such assignment or transfer shall be entitled to additional amounts pursuant to this Section 5.01 on the income receivable by, assigned or impose any expense (including loss of margin) upon transferred interest only to the same extent as the assignor Lender. If any Lender or Participant with respect Issuing Lender becomes entitled to claim any additional amounts pursuant to this Agreementsubsection, it shall promptly notify Borrower, through the Administrative Agent, of the event by reason of which it has become so entitled. A certificate as to any additional amounts setting forth the calculation of such additional amounts pursuant to this Section 5.01 submitted by such Lender or Issuing Lender, through the Administrative Agent, to Borrower shall be conclusive in the absence of clearly demonstrable error. Without limiting the survival of any other covenant hereunder, this Section 5.01 shall survive the termination of this Agreement and the payment of the Notes and all other amounts payable hereunder. (b) In the event that any Lender or Issuing Lender shall have determined that the adoption of any law, rule, regulation or guideline regarding capital adequacy (or any change after the date hereof therein or in the interpretation or application thereof) or compliance by any Lender or Issuing Lender or any corporation controlling such Lender or Issuing Lender with any request or directive regarding capital adequacy (whether or not having the force of law) from any central bank or Governmental Authority or the NAIC, in each case, made subsequent to the date hereof including, without limitation, the Loan Notes, or the making, maintenance or funding issuance of any loan (orfinal rule, in the case of any capital adequacy regulation or similar requirementguideline, to does or shall have the effect of reducing the rate of return on such Lender’s 's or Participant’s capitalIssuing Lender's or such corporation's capital as a consequence of its obligations hereunder or under any Letter of Credit to a level below that which such Lender or Issuing Lender or such corporation could have achieved but for such adoption, change or compliance (taking into consideration such Lender’s 's or Participant’s Issuing Lender's or such corporation's policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) deemed by such Lender or Participant (which determination shall be conclusive absent manifest error) Issuing Lender to be necessary material, then from time to time, after submission by such Lender or Issuing Lender to Borrower (with a copy to the Administrative Agent) of a written request therefor, Borrower shall promptly pay to such Lender or Issuing Lender such additional amount or amounts as will compensate such Lender or Participant Issuing Lender for such increasereduction. (c) Each Lender (and Issuing Lender) shall notify Borrower of any event that will entitle such Lender (or Issuing Lender, reduction as the case may be) to compensation under paragraph (a) or disposition. Such (b) of this Section 5.01 as promptly as practicable, but in any event within 90 days after such Lender (or Issuing Lender, as the case may be) obtains actual knowledge thereof; PROVIDED, HOWEVER, that (i) if any Lender (or Issuing Lender, as the case may be) fails to give such notice within 90 days after it obtains actual knowledge of such an event, such Lender (or Issuing Lender, as the case may be) shall, with respect to compensation payable pursuant to this Section 5.01 in respect of any costs resulting from such event, only be entitled to payment under this Section 5.01 for costs incurred from and after the date 90 days prior to the date that such Lender (or Issuing Lender, as the case may be) does give such notice and (ii) each Lender (or Issuing Lender, as the case may be), will designate a different Applicable Lending Office for the Loans of such Lender (or the Letters of Credit, as the case may be) affected by such event if such designation will avoid the need for, or reduce the amount shall of, such compensation and will not, in the sole opinion of such Lender (or Issuing Lender, as the case may be), be due and payable by DART disadvantageous to such Lender (or Participant Issuing Lender, as the case may be). Each Lender (or Issuing Lender, as directed by the Administrative Agentcase may be) within 10 Business Days from will furnish to Borrower at the date time of request for compensation under paragraph (a) or (b) of this Section 5.01 a certificate setting forth the Administrative Agent’s notice. A certificate basis, amount and reasonable detail of computation of each request by such Lender for compensation under paragraph (a) or Participant as to the amount due and payable under (b) of this Section from time to time 5.01, which certificate shall, except for demonstrable error, be final, conclusive and the method of calculating such amount shall be conclusive absent manifest error and shall be provided to DART along with the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10binding for all purposes.

Appears in 1 contract

Sources: Credit Agreement (Atrium Companies Inc)

Additional Costs. If any law present or guideline future applicable law, which expression, as used herein, includes statutes, rules and regulations thereunder and interpretations thereof by any competent court or by any governmental or other regulatory body or official charged with the administration or the interpretation thereof and requests, directives, instructions and notices at any time or applicationfrom time to time hereafter made upon or otherwise issued to the Metal Supplier by any central bank or other fiscal, monetary or other authority (whether or not having the force of law), shall: (a) subjects any Lender or Participant subject the Metal Supplier to any tax or changes the basis of taxation with respect to this Agreement or the Loan Notes, or payments by DART of principal, interest, fees or other amounts due from DART hereunder or under the Loan Notes (except for taxes on the overall net income or share capital profits), levy, impost, duty, charge, fee, deduction or withholding of such Lender any nature with respect to the making of Fixed Rate Consignments or Participant imposed by the jurisdiction in which the Lender’s or Participant’s principal office is located);Fixed Rate Gold Loans, or (b) imposesmaterially change the basis of taxation (except for changes in taxes on income or profits) of payments to the Metal Supplier of the principal of or the interest on Fixed Rate Consignments or Fixed Rate Gold Loans or any other amounts payable to the Metal Supplier under this Agreement for Fixed Rate Consignments or Fixed Rate Gold Loans, modifiesor (c) impose or increase or render applicable (other than to the extent specifically provided for elsewhere in this Agreement) any special deposit, reserve, assessment, liquidity, capital adequacy or other similar requirements (whether or not having the force of law) against assets held by, or deems applicable any reserve, special deposit or similar requirement against credits or commitments to extend credit extended by, assets (funded or contingent) of, deposits with in or for the account of, or other acquisitions of funds loans by, any Lender or Participant; (c) imposes, modifies, or deems applicable any capital adequacy or similar requirement (i) against assets (funded or contingent) of, or credits or commitments of the Metal Supplier as they relate to extend credit extended by, any Lender or Participant, or (ii) otherwise applicable to the obligations of any Lender or Participant under this Agreement; , or (d) imposes upon any Lender or Participant impose on the Metal Supplier any other condition conditions or expense requirements with respect to this Agreement, Fixed Rate Consignments or the Loan Notes, or its making, maintenance or funding of any loan or other credit Fixed Rate Gold Loans or any commitment class of commitments of which any of Fixed Rate Consignments or security therefor, Fixed Rate Gold Loans form a part; (e) and the result of any of the foregoing is is: (i) to increase directly or indirectly the cost toto the Metal Supplier of making, funding, issuing, renewing, extending or maintaining any of the Fixed Rate Consignments or Fixed Rate Gold Loans, or (ii) to reduce the income receivable byamount of principal, interest or impose other amount payable to the Metal Supplier hereunder on account of any expense of the Fixed Rate Consignments or Fixed Rate Gold Loans, or (including loss of marginiii) upon to require the Metal Supplier to make any Lender payment or Participant with respect to this Agreementforego any interest or other sum payable hereunder, the Loan Notes, amount of which payment or foregone interest or other sum is calculated by reference to the making, maintenance or funding gross amount of any loan (or, in the case of any capital adequacy sum receivable or similar requirement, to have the effect of reducing the rate of return on such Lender’s or Participant’s capital, taking into consideration such Lender’s or Participant’s policies with respect to capital adequacy) by an amount which such Lender or Participant deems to be material to it, then such Lender or Participant shall from time to time cause the Administrative Agent to notify DART of the amount determined in good faith (using any reasonable averaging and attribution methods) by such Lender or Participant (which determination shall be conclusive absent manifest error) to be necessary to compensate such Lender or Participant for such increase, reduction or disposition. Such amount shall be due and payable by DART to such Lender or Participant (as directed deemed received by the Administrative Agent) within 10 Business Days from Metal Supplier for the date of Customers hereunder, then, and in each such case, the Administrative Agent’s notice. A certificate Customers will, upon demand by such Lender or Participant as to the amount due Metal Supplier, at any time and payable under this Section from time to time and as often as the method of calculating occasion therefor may arise, pay to the Metal Supplier such amount shall additional amounts as will be conclusive absent manifest error and shall be provided sufficient to DART along with compensate the notice described above. The rights of any Participant in this Section 8.01 are expressly limited by the provisions of Section 8.10Metal Supplier for such additional cost, reduction, payment or foregone interest or other sum.

Appears in 1 contract

Sources: Precious Metals Agreement (Brush Engineered Materials Inc)