Common use of Indemnity for Taxes, Reserves and Expenses Clause in Contracts

Indemnity for Taxes, Reserves and Expenses. (a) If after the date hereof, the adoption of any Law or bank regulatory guideline or any amendment or change in the interpretation of any existing or future Law or bank regulatory guideline by any Official Body charged with the administration, interpretation or application thereof (and, in the case of a change in the interpretation of any such Law or regulatory guideline, such change has been generally accepted by institutions to which such Law or regulatory guideline is applicable), or the compliance with any directive of any Official Body (in the case of any bank regulatory guideline, whether or not having the force of Law):