Increased Payments Clause Samples
The Increased Payments clause requires one party to compensate the other for additional costs or expenses that arise due to changes in law, regulation, or other specified circumstances. Typically, this clause applies when external factors, such as new taxes or regulatory requirements, increase the financial burden on a party involved in the contract. For example, if a government imposes a new tax that affects the cost of providing services, the service provider may be entitled to recover those extra costs from the client. The core function of this clause is to allocate the risk of unforeseen financial burdens, ensuring that neither party is unfairly disadvantaged by changes outside their control.
Increased Payments. Except with respect to Taxes, which shall be governed by Section 4.07, if any change of law or guideline or interpretation or application thereof by any Governmental Authority charged with the interpretation or administration thereof or compliance with any request or directive of any Governmental Authority adopted after the date hereof (collectively, a “Change in Law”):
(a) subjects any Secured Lender or Bank Participant to taxation with respect to this Agreement, the other Loan Documents or payment by the Borrower of principal, interest, upfront fee or quarterly or annual credit fees, commitment fees, administrative fees, termination fees or other amounts due from the Borrower hereunder (except for any taxes on the overall net income or share capital of a Secured Lender or Bank Participant);
(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 a Secured Lender or Bank 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, a Secured Lender or Bank Participant, or (ii) otherwise applicable to the obligations of a Secured Lender or Bank Participant under this Agreement; or
(d) imposes upon a Secured Lender or Bank Participant any other condition or expense with respect to this Agreement, the Loan, or the making, maintenance or funding of any Advance or any security therefor; and the result of any of the foregoing (a) through (d) is to increase the cost to, reduce the income receivable by, or impose any expense (including loss of margin) upon a Secured Lender or Bank Participant with respect to this Agreement, the Loan or the making, maintenance or funding of any Advance (or, in the case of any capital adequacy or similar requirement, to have the effect of reducing the rate of return on the Secured Lenders’ or Bank Participants’ capital, taking into consideration such Secured Lender’s or Bank Participant’s policies with respect to capital adequacy) by an amount which such Secured Lender or Bank Participant deems to be material to it, then the Administrative Agent on behalf of itself or any other Secured Lender or Bank Participant shall from time to time notify, or cause to be notified, the Borrower of the amount d...
Increased Payments. At any time after the occurrence of an Event of Default, the Bank shall have the right, in its sole discretion, upon written notice to Borrower, to require that future monthly payments of principal and interest made by Borrower pursuant to this Agreement be in an amount equal to the greatest of: (a) the amount set forth in Section 2.04, (b) up to 70 percent of Gross Revenues for the calendar month two months prior to the calendar month in which such payment is due, or (c) up to 100 percent of Net Revenues for the calendar month two months prior to the calendar month in which such payment is due; provided that any such payments shall be in addition to any amounts payable pursuant to Section 3.03 below.
Increased Payments. (1) If any Change in Law shall (i) impose, modify or hold applicable any reserve, special deposit, compulsory loan or similar requirement against assets held by, deposits or other liabilities in or for the account of, advances, loans or other extensions of credit by, or any other acquisition of funds by, any office of a Lender that is not otherwise included in the determination of LIBOR or (ii) impose any other condition on such Lender, and the result of any of the foregoing is to increase the cost to such Lender by an amount that such Lender deems to be material, of holding Bonds, or to reduce any amount received or receivable in respect thereof (whether of principal, interest or any other amount), then, in any such case, the Company 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 amounts pursuant to this paragraph, it shall promptly notify the Company in writing (with a copy to the Administrative Agent) of the event by reason of which it has become so entitled; provided that the Company shall not be required to compensate a Lender pursuant to this paragraph for any amounts incurred more than three months prior to the date that such Lender notifies the Company of such Lender’s intention to claim compensation therefor; and provided further that, if the circumstances giving rise to such claim have a retroactive effect, then such period for which the Company shall be required to compensate the Lenders shall be extended to include the period of such retroactive effect.
(2) If any Lender shall have determined that any Change in Law regarding capital requirements shall have the effect of reducing the rate of return on such Lender’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 policies with respect to capital adequacy) by an amount deemed by such Lender to be material, then from time to time, after submission by such Lender to the Company (with a copy to the Administrative Agent) of a written request therefor, the Company shall pay to such Lender such additional amount or amounts as will compensate such Lender for such reduction; provided that the Company shall not be required to compensate a Lender pursuant to this paragraph for any amounts incurred more t...
Increased Payments. (a) If, on or after the Closing Date, the adoption of any law or any governmental or quasi-governmental rule, regulation, policy, guideline or directive (whether or not having the force of law), or any change in the interpretation, promulgation, implementation or administration thereof by any governmental or quasi- governmental authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by the Lender or any Bondholder with any request or directive (whether or not having the force of law) of any such authority, central bank or comparable agency:
(i) subjects the Lender or any Bondholder to any Taxes, or changes the basis of taxation of payments (other than with respect to Excluded Taxes with respect to the Lender or such other Bondholder) to the Lender or any Bondholder hereunder or with respect to the Bonds, or
(ii) imposes or increases or deems applicable any reserve, liquidity ratio, assessment, insurance charge, special deposit or similar requirement against assets of, deposits with or for the account of, or credit extended by, the Lender or any Bondholder, or
(iii) imposes any other condition, the results of which is to increase the cost to the Lender with respect to this Agreement, the Bonds or its making, maintenance or funding of its purchase of the Bonds, the Purchase Price on the Bonds or any security therefor, or reduces any amount receivable by the Lender with respect to this Agreement, the Bonds or the making, maintenance of funding of its purchase of the Bonds or participations therein, the Purchase Price of the Bonds, or requires the Lender to make any payment calculated by reference to any amount received by or with respect to this Agreement, the Bonds or the making, maintenance or funding of its purchase of the Bonds or the Purchase Price of the Bonds, by an amount deemed material by the Lender. and the result of any of the foregoing is to increase the cost to the Lender or such Bondholder with respect to this Agreement, the Bonds, or the making, maintenance or funding of its purchase of the Bonds or of issuing or participating the same or to reduce the return received by the Lender or such Bondholder in connection with the same, then, to the extent permitted by law, within thirty (30) days of demand by the Lender or such Bondholder (together with the certificate required pursuant to (c) below), the Borrower shall pay the Lender or such Bondholder, as the case may be, such additional...
Increased Payments. (a) (i) If the Purchaser, any Bondholder or any Participant shall have determined that the adoption or implementation of, or any change in, any law, rule, treaty, regulation, policy, guideline, supervisory standard or directive of, or any change in the interpretation, implementation, or administration thereof by, any Governmental Authority (in each case, whether or not having the force of law), or compliance by the Purchaser, any Bondholder or any Participant with any request by or directive of any Governmental Authority (in each case, whether or not having the force of law), including but not limited to any such law, rule, regulation, policy, guideline, standard, directive, interpretation, application or promulgation implementing, invoking or in any way related to any provision of the ▇▇▇▇-▇▇▇▇▇ ▇▇▇▇ Street Reform and Consumer Protection Act (or any other statute referred to therein or amended thereby), regardless of the date enacted, adopted or issued, or any rules, guidelines, standards, policies, regulations, or directives promulgated by the Basel Committee on Banking Supervision or the Bank for International Settlements (or any successor or similar organizations), regardless of the date enacted, adopted or issued, shall:
(A) subject the Purchaser, any Bondholder or any Participant to any Tax, or change the basis of taxation of payments to the Purchaser, such Bondholder or such Participant of any amounts payable hereunder (except for Indemnified Taxes or Other Taxes covered by clause (e) below and the imposition of, or any change in the rate of, any Excluded Tax payable by the Purchaser, such Bondholder or such Participant); or
(B) impose, modify or deem applicable any reserve, liquidity, special deposit, insurance premium, fee, financial charge, monetary burden or similar requirement against the making, maintenance or funding of any loan of any loan or the purchase and holding of the Bonds, or complying with any term of this Agreement, or against assets held by, or deposits with or for the account of, the Purchaser, such Bondholder or such Participant; or
(C) impose on the Purchaser, such Bondholder or such Participant any other condition, expense or cost regarding this Agreement, and the result of any event referred to in clause (A) or (B) above shall be to increase the cost to the Purchaser, such Bondholder or such Participant of making, maintaining or funding any loan or the purchase and holding of the Bonds or complying with any term of this Agree...
Increased Payments. 1) The charges for the Full Maintenance or Periodic Maintenance under this Agreement shall be reviewed upon each anniversary of the date of this Agreement and if upon any such review the Index Figure last published before that date shows an increase or decrease in relation to the Index Figure first published before the date of this Agreement the said charges shall be increased in the same proportion.
2) The increase in the Full Maintenance or Periodic Maintenance shall be collected by A.M. Forktrucks Ltd or their agent under the standing order mandate.
Increased Payments. Effective January 1, 2018, employ- ees who waive insurance coverage shall be eligible for a monthly stipend as follows:
a) Employees eligible for single coverage shall receive $200 to be paid in two equal installments of $100 each. b) Employees eligible for family coverage shall receive $450 to be paid in two equal installments of $225 each.
Increased Payments