Common use of Additional Costs in Respect of Letters of Credit Clause in Contracts

Additional Costs in Respect of Letters of Credit. If as a result of any Change in Law there shall be imposed, modified, or deemed applicable any tax, reserve, special deposit, or similar requirement against or with respect to or measured by reference to Letters of Credit issued or to be issued hereunder or the Issuing Bank’s commitment to issue Letters of Credit hereunder, and the result shall be to increase the cost to the Issuing Bank of issuing or maintaining any Letter of Credit or its commitment to issue Letters of Credit hereunder or reduce any amount receivable by the Issuing Bank hereunder in respect of any Letter of Credit (which increase in cost, or reduction in amount receivable, shall be the result of the Issuing Bank’s reasonable allocation of the aggregate of such increases or reductions resulting from such event), then, upon demand by the Issuing Bank, the Borrower agrees to pay the Issuing Bank, from time to time as specified by the Issuing Bank, such additional amounts as shall be sufficient to compensate the Issuing Bank for such increased costs or reductions in amount. A statement as to such increased costs or reductions in amount incurred by the Issuing Bank, submitted by the Issuing Bank to the Borrower, shall be conclusive as to the amount thereof, provided that the determination thereof is made on a reasonable basis.

Additional Costs in Respect of Letters of Credit. If as a result If, after the date hereof, there shall occur the adoption of any Change applicable law, rule, or regulation, or any change therein, or any change in Law the interpretation or administration thereof by any Governmental Authority, central bank, or comparable agency charged with the interpretation or administration thereof, or compliance by Lender with any request or directive (whether or not having the force of law) of any such authority, central bank, or comparable agency there shall be imposed, modified, or deemed applicable any tax, reserve, special deposit, or similar requirement against or with respect to or measured by reference to Letters of Credit issued or to be issued hereunder or the Issuing BankLender’s commitment to issue Letters of Credit hereunder, and the result shall be to increase the cost to the Issuing Bank Lender of issuing or maintaining any Letter of Credit or its commitment to issue Letters of Credit hereunder or reduce any amount receivable by the Issuing Bank Lender hereunder in respect of any Letter of Credit (which increase in cost, or reduction in amount receivable, shall be the result of the Issuing BankLender’s reasonable allocation of the aggregate of such increases or reductions resulting from such event), then, upon demand by the Issuing BankLender, the Borrower agrees to pay the Issuing Bankto Lender, from time to time as specified by the Issuing BankLender, such additional amounts as shall be sufficient to compensate the Issuing Bank Lender for such increased costs or reductions in amount. A statement as to such increased costs or reductions in amount incurred by the Issuing BankLender, submitted by the Issuing Bank Lender to the Borrower, shall be conclusive as to the amount thereof, ; provided that the determination thereof is made on a reasonable basis.

Additional Costs in Respect of Letters of Credit. If Except in the case of increased cost attributable to the imposition of taxes as to which the Company's liability is governed by Section 5.04(a), if as a result of any Change change after the date of the amendment and restatement hereof in Law applicable law or regulation or in the interpretation thereof by any Governmental Authority there shall be imposed, modified, modified or deemed applicable any tax, reserve, special deposit, capital adequacy requirement or similar requirement other requirements against or with respect to or measured by reference to Letters of Credit issued or to be issued hereunder or by the Issuing Bank’s commitment to issue Letters of Credit hereunder, Bank hereunder and the result shall be to increase the cost to the Issuing Bank of issuing or maintaining any Letter of Credit or its commitment to issue Letters of Credit hereunder hereunder, or reduce any amount receivable by the Issuing Bank hereunder in respect of any Letter of Credit (which increase in cost, or reduction in amount receivable, shall be the result of the Issuing Bank’s 's reasonable allocation of the aggregate of such increases or reductions resulting from such event), thenthe Company shall, upon demand by the Issuing Bank, the Borrower agrees pay to pay the Issuing Bank, Bank within 10 days of such written demand such additional amounts as the Issuing Bank from time to time specifies as specified by the Issuing Bank, such additional amounts as shall be sufficient necessary to compensate the Issuing Bank for such increased costs or reductions in amount. A statement as to such increased costs or reductions in amount incurred by the Issuing Bank, submitted by the Issuing Bank to the Borrower, shall be conclusive as to the amount thereof, provided that the determination thereof is made on a reasonable basisamounts receivable.

Additional Costs in Respect of Letters of Credit. If as a result If, after the date hereof, there shall occur the adoption of any Change applicable law, rule, or regulation, or any change therein, or any change in Law the interpretation or administration thereof by any governmental authority, central bank, or comparable agency charged with the interpretation or administration thereof, or compliance by Lender with any request or directive (whether or not having the force of law) of any such authority, central bank, or comparable agency there shall be imposed, modified, or deemed applicable any tax, reserve, special deposit, or similar requirement against or with respect to or measured by reference to Letters of Credit issued or to be issued hereunder or the Issuing BankLender’s commitment to issue Letters of Credit hereunder, and the result shall be to increase the cost to the Issuing Bank Lender of issuing or maintaining any Letter of Credit or its commitment to issue Letters of Credit hereunder or reduce any amount receivable by the Issuing Bank Lender hereunder in respect of any Letter of Credit (which increase in cost, or reduction in amount receivable, shall be the result of the Issuing BankLender’s reasonable allocation of the aggregate of such increases or reductions resulting from such event), then, upon demand by the Issuing BankLender, the Borrower agrees to pay the Issuing Bankto Lender, from time to time as specified by the Issuing BankLender, such additional amounts as shall be sufficient to compensate the Issuing Bank Lender for such increased costs or reductions in amount. A statement as to such increased costs or reductions in amount incurred by the Issuing BankLender, submitted by the Issuing Bank Lender to the Borrower, shall be conclusive as to the amount thereof, ; provided that the determination thereof is made on a reasonable basis.”

Additional Costs in Respect of Letters of Credit. If as a result of any Regulatory Change in Law there shall be imposed, modified, modified or deemed applicable any taxTax, reserve, special deposit, Capital Maintenance Costs or similar requirement other requirements against or with respect to or measured by reference to Syndicated Letters of Credit or Bank Letters of Credit issued or to be issued by any Bank hereunder or participated in by a Bank party to this Agreement on the Issuing Bank’s commitment to issue Letters of Credit hereunderEffective Date, and the result shall be to increase the cost to the Issuing such Bank of issuing or maintaining any Letter Syndicated Letters of Credit or its commitment to issue Bank Letters of Credit hereunder or to such Bank party to this Agreement on the Effective Date participating therein, or reduce any amount receivable by the Issuing such Bank hereunder in respect of any Letter Syndicated Letters of Credit or Bank Letters of Credit (which increase in cost, or reduction in amount receivable, shall be the result of the Issuing such Bank’s 's reasonable allocation of the aggregate of such increases or reductions resulting from such event), then, upon demand by the Issuing such Bank, the Borrower Company agrees to pay the Issuing Bank, from time immediately to time as specified by the Issuing such Bank, such additional amounts as shall be sufficient such Bank from time to time specifies as necessary to compensate the Issuing such Bank for such increased costs or reductions in amount. A the amounts incurred by such Bank, all as set forth 36 in a statement as submitted to the Company, which statement shall be conclusive provided that such increased costs or reductions in amount incurred by the Issuing Bank, submitted by the Issuing Bank to the Borrower, shall be conclusive as to the amount thereof, provided that the determination thereof is made are determined on a reasonable basis; any such statement shall set forth the basis for the respective calculation.

Additional Costs in Respect of Letters of Credit. If Without limiting the obligations of the Borrower under the preceding subsections of this Section (but without duplication), if as a result of any Regulatory Change in Law or any risk-based capital guideline or other requirement heretofore or hereafter issued by any Governmental Authority there shall be imposed, modified, modified or deemed applicable on or after the Agreement Date any tax, reserve, special deposit, capital adequacy or similar requirement against or with respect to or measured by reference to Letters of Credit issued or to be issued hereunder or the Issuing Bank’s commitment to issue Letters of Credit hereunder, and the result shall be to increase the cost to the Issuing Bank of issuing (or any Lender of purchasing participations in) or maintaining its obligation hereunder to issue (or purchase participations in) any Letter of Credit or its commitment to issue Letters of Credit hereunder or reduce any amount receivable by the Issuing Bank or any Lender hereunder in respect of any Letter of Credit (which increase in cost, or reduction in amount receivable, shall be the result of the Issuing Bank’s reasonable allocation of the aggregate of such increases or reductions resulting from such event)Credit, then, upon demand by the Issuing BankBank or such Lender, the Borrower agrees shall pay promptly, and in any event within 5 Business Days of demand, to pay the Issuing BankBank or to the Agent for the account of such Lender, as applicable, from time to time as specified by the Issuing BankBank or a Lender, such additional amounts as shall be sufficient to compensate the Issuing Bank or such Lender for such increased costs or reductions in amount. A statement as amount to such increased costs or reductions in amount incurred by the Issuing Bank, submitted by extent the Issuing Bank to or such Lender, as the Borrowercase may be, shall be conclusive as to generally imposes such additional amounts on other borrowers of the amount thereof, provided that the determination thereof is made on a reasonable basisIssuing Bank or such Lender in similar circumstances.

Additional Costs in Respect of Letters of Credit. If as a result of any Regulatory Change in Law there shall be imposed, modified, or deemed applicable any tax, reserve, special deposit, or similar requirement against or with respect to or measured by reference to Letters of Credit issued or to be issued hereunder or the Issuing Bank’s 's commitment to issue Letters of Credit hereunder, and the result shall be to increase the cost to the Issuing Bank of issuing or maintaining any Letter of Credit or its commitment to issue Letters of Credit hereunder or reduce any amount receivable by the Issuing Bank hereunder in respect of any Letter of Credit (which increase in cost, or reduction in amount receivable, shall be the result of the Issuing Bank’s 's reasonable allocation of the aggregate of such increases or reductions resulting from such event), then, upon demand by the Issuing Bank, the Borrower agrees to pay the Issuing Bank, from time to time as specified by the Issuing Bank, Bank such additional amounts as shall be sufficient to compensate the Issuing Bank for such increased costs or reductions in amount. A statement as to such increased costs or reductions in amount incurred by the Issuing Bank, submitted by the Issuing Bank to the Borrower, shall be conclusive as to the amount thereof, provided that the determination thereof is made on a reasonable basis.

Additional Costs in Respect of Letters of Credit. If as a result of any Regulatory Change in Law there shall be imposed, modified, or deemed applicable any tax, reserve, special deposit, or similar requirement against or with respect to or measured by reference to Letters of Credit issued or to be issued hereunder or the Issuing Bank’s commitment to issue Letters of Credit hereunder, and the result shall be to increase the cost to the Issuing Bank of issuing or maintaining any Letter of Credit or its commitment to issue Letters of Credit hereunder or reduce any amount receivable by the Issuing Bank hereunder in respect of any Letter of Credit (which increase in cost, or reduction in amount receivable, shall be the result of the Issuing Bank’s reasonable allocation of the aggregate of such increases or reductions resulting from such event), then, upon within thirty (30) days after written demand by the Issuing Bank, the Borrower agrees to pay the to Issuing Bank, Bank from time to time as specified by the Issuing Bank, such additional amounts as shall be sufficient to compensate the Issuing Bank for such increased costs or reductions in amount. A statement as to in reasonable detail describing such increased costs or reductions in amount incurred by the Issuing Bank, submitted by the Issuing Bank to the BorrowerBorrower with such written demand, shall shall, absent manifest error, be conclusive as to the amount thereof, provided that the determination thereof is made on a reasonable basis.

Additional Costs in Respect of Letters of Credit. If as a result If, after the date hereof, there shall occur the adoption of any Change applicable law, rule, or regulation, or any change therein, or any change in Law the interpretation or administration thereof by any governmental authority, central bank, or comparable agency charged with the interpretation or administration thereof, or compliance by Bank with any request or directive (whether or not having the force of law) of any such authority, central bank, or comparable agency there shall be imposed, modified, or deemed applicable any tax, reserve, special deposit, or similar requirement against or with respect to or measured by reference to Letters of Credit issued or to be issued hereunder or the Issuing Bank’s commitment to issue Letters of Credit hereunder, and the result shall be to increase the cost to the Issuing Bank of issuing or maintaining any Letter of Credit or its commitment to issue Letters of Credit hereunder or reduce any amount receivable by the Issuing Bank hereunder in respect of any Letter of Credit (which increase in cost, or reduction in amount receivable, shall be the result of the Issuing Bank’s reasonable allocation of the aggregate of such increases or reductions resulting from such event), then, upon demand by the Issuing Bank, the Borrower agrees to pay the Issuing to Bank, from time to time as specified by the Issuing Bank, such additional amounts as shall be sufficient to compensate the Issuing Bank for such increased costs or reductions in amount. A statement as to such increased costs or reductions in amount incurred by the Issuing Bank, submitted by the Issuing Bank to the Borrower, shall be conclusive as to the amount thereof, ; provided that the determination thereof is made on a reasonable basis.”

Additional Costs in Respect of Letters of Credit. If as a result of any Regulatory Change in Law there shall be imposed, modified, or deemed applicable any tax, reserve, special deposit, or similar requirement against or with respect to or measured by reference to Letters of Credit issued or to be issued hereunder or the Issuing Bank’s 's commitment to issue Letters of Credit hereunder, and the result shall be to increase the cost to the Issuing Bank of issuing or maintaining any Letter of Credit or its commitment to issue Letters of Credit hereunder or reduce any amount receivable by the Issuing Bank hereunder in respect of any Letter of Credit (which increase in cost, or reduction in amount receivable, shall be the result of the Issuing Bank’s 's reasonable allocation of the aggregate of such increases or reductions resulting from such event), then, upon demand by the Issuing Bank, the Borrower agrees to pay the Issuing Bank, from time to time as specified by the Issuing Bank, such additional amounts as shall be sufficient to compensate the Issuing Bank for such increased costs or reductions in amount. A statement as to such increased costs or reductions in amount incurred by the Issuing Bank, submitted by the Issuing Bank to the Borrower, shall be conclusive as to the amount thereof, provided that the determination thereof is made on a reasonable basis.

Additional Costs in Respect of Letters of Credit. If as a result of any Change in Law there shall be imposed, modified, or deemed applicable any tax, reserve, special deposit, or similar requirement against or with respect to or measured by reference to Letters of Credit issued or to be issued hereunder or the Issuing Bank’s 's commitment to issue Letters of Credit hereunder, and the result shall be to increase the cost to the Issuing Bank of issuing or maintaining any Letter of Credit or its commitment to issue Letters of Credit hereunder or reduce any amount receivable by the Issuing Bank hereunder in respect of any Letter of Credit (which increase in cost, or reduction in amount receivable, shall be the result of the Issuing Bank’s 's reasonable allocation of the aggregate of such increases or reductions resulting from such event), then, upon demand by the Issuing Bank, the Borrower agrees to pay the Issuing Bank, from time to time as specified by the Issuing Bank, such additional amounts as shall be sufficient to compensate the Issuing Bank for such increased costs or reductions in amount. A statement as to such increased costs or reductions in amount incurred by the Issuing Bank, submitted by the Issuing Bank to the Borrower, shall be conclusive as to the amount thereof, provided that the determination thereof is made on a reasonable basis.