Common use of No additional costs Clause in Contracts

No additional costs. If the Issuer transfers or sub-participates any part of its rights and/or obligations under the Finance Documents or changes its issuing office pursuant to this Clause 20 and as a result of circumstances existing at the date the transfer, sub-participation or change occurs, the Obligors would be obliged to make an increased payment to the Issuer under any applicable Clauses of this Agreement then the Issuer is only entitled to recover payment under those Clauses to the same extent as the Issuer would have been if the transfer, sub-participation or change of issuing office had not occurred.

Appears in 3 contracts

Sources: Guarantee Facility Agreement (TBS International PLC), Guarantee Facility Agreement (TBS International LTD), Guarantee Facility Agreement (TBS International LTD)