Recalculation of Interest. If any applicable law is ever judicially interpreted so as to deem any distribution, contribution, payment or other amount received by any Member or the Company under this Agreement as interest and so as to render any such amount in excess of the maximum rate or amount of interest permitted by applicable law, then it is the express intent of the Members and the Company that all amounts in excess of the highest lawful rate or amount theretofore collected be credited against any other distributions, contributions, payments or other amounts to be paid by the recipient of the excess amount or refunded to the appropriate Person, and the provisions of this Agreement immediately be deemed reformed, without the necessity of the execution of any new document, so as to comply with the applicable law, but so as to permit the payment of the fullest amount otherwise required hereunder. All sums paid or agreed to be paid that are judicially determined to be interest shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the term of such obligation so that the rate or amount of interest on account of such obligation does not exceed the maximum rate or amount of interest permitted under applicable law.
Recalculation of Interest. If a Tax Deduction is required by Swiss law to be made by a Swiss Obligor in respect of any interest payable by it under this Agreement and should paragraph (c) of Clause 16.2 (Tax gross-up) be unenforceable for any reason (other than as a result of the application of one of the exclusions in paragraph (d) of Clause 16.2 (Tax gross up)), the applicable interest rate in relation to that interest payment will be calculated by the Company or the Swiss Obligor and shall be (i) the interest rate which would have applied to that interest payment (as provided for in Clause 12.1 (Calculation of Interest)) in the absence of this Clause 12.5 divided by (ii) 1 minus the rate at which the relevant Tax Deduction is required to be made (where the rate at which the relevant Tax Deduction is required to be made is for this purpose expressed as a fraction of 1 rather than as a percentage) and (a) that the Swiss Obligor shall be obliged to pay the relevant interest at the adjusted rate in accordance with this Clause 12.5 and (b) all references to a rate of interest in Clause 12.1 (Calculation of Interest) shall be construed accordingly.
Recalculation of Interest. In the event of any retroactive increase in the Applicable Margin for any Quarterly Payment Period pursuant to paragraph (a), (b) or (c) above, the amount of interest in respect of any applicable Loan outstanding during all or any portion of such Quarterly Payment Period shall be recalculated using the Applicable Margin as so increased. On the Business Day immediately following receipt by the Borrowers of notice from the Administrative Agent of such increase, the Borrowers shall pay to the Administrative Agent, for the account of the Lenders, an amount equal to the difference between (i) the amount of interest previously paid or payable by the Borrowers in respect of such Loan for such Quarterly Payment Period and (ii) the amount of interest in respect of such Loan as so recalculated for such Quarterly Payment Period.
Recalculation of Interest. Subject to the Holder’s and each other Purchaser’s compliance with Section 4.2 of the Purchase Agreement and the Non-Bank Rules, if any Tax must be deducted by Swiss law from any amounts payable or paid by the Company in respect of any interest payable by it under this Note, the applicable interest rate in relation to that interest payment shall be (i) the interest rate which would have applied to that interest payment (as provided for in the Applicable Interest Rate) divided by (ii) 1 minus the rate at which the relevant Tax deduction is required to be made (where the rate at which the relevant Tax deduction is required to be made is for this purpose expressed as a fraction of 1 rather than as a percentage) and (a) the Company shall be obliged to pay the relevant interest at the adjusted rate in accordance with this clause and (b) all references to a rate of interest under this Note shall be construed accordingly. ********************* (Signature Pages Follow)
Recalculation of Interest. (a) The rates of interest provided for in this Agreement and any other Loan Document, including, without limitation in Section 2.08, are minimum interest rates.
Recalculation of Interest. If a Tax deduction is required by Swiss law to be made by a Swiss Obligor in respect of any interest payable by it under this Agreement and should paragraph (b) of Section 2.9 be unenforceable for any reason, the applicable interest rate in relation to that interest payment shall be (i) the interest rate which would have applied to that interest payment (as provided for in Section 2.2) in the absence of this Section 2.5 divided by (ii) one (1) minus the rate at which the relevant Tax deduction is required to be made (where the rate at which the relevant Tax deduction is required to be made is for this purpose expressed as a fraction of one (1) rather than as a percentage) and (a) that the Swiss Obligor shall be obliged to pay the relevant interest at the adjusted rate in accordance with this Section 2.5 and (b) all references to a rate of interest in Section 2.2 shall be construed accordingly. No recalculation of interest shall be made under this Section 2.5 with respect to a specific Lender if an Event of Default has not occurred or is continuing and the Non-Bank Rules would not have been violated if (i) such Lender which is not a Permitted Non-Qualifying Bank in relation to which the Swiss Obligor makes the payment, was a Qualifying Bank but on that date that Lender is not or has ceased to be a Qualifying Bank other than as a result of any change of law after the date it became a Lender under the Agreement or (ii) such Lender, in relation to which the Swiss Obligor makes the payment, had complied with its obligations under Section 11.7 and Section 11.8.
Recalculation of Interest. If a Tax Deduction is required by law to be made by a Borrower in respect of any interest payable by that Borrower under a Loan and should it be unlawful for such Borrower to comply with paragraph (1) of Section 8.2 (Tax Gross-Up) for any reason (where this would otherwise be required by the terms of Section 8.2, taking into account the exclusions set out in paragraph 4 of Section 8.2), (a) the applicable interest rate in relation to that interest payment shall be (i) the interest rate which would have been applied to that interest payment (as provided for in the absence of this Section 6.4), (ii) divided by 1 minus the minimal permissible rate at which the relevant Tax Deduction is required to be made in view of domestic tax law and/or applicable tax treaties (where the rate at which the relevant Tax Deduction is required to be made is, for this purpose, expressed as a fraction of one (1)) and (b) (i) the Borrower shall be obliged to pay the relevant interest at the adjusted rate in accordance with this Section 6.4, (ii) the Borrower shall make the Tax Deduction on the interest so recalculated, and (iii) all references to a rate of interest under such Loan shall be construed accordingly. The exclusions set out in paragraph 4 of Section 8.2 shall apply mutatis mutandis to the obligation to recalculate interest under this Section 6.4, such that in any such exclusion cases, no recalculation of interest shall be imposed on a Swiss Borrower. To the extent that interest payable by a Borrower under this Agreement becomes subject to Tax Deduction, each relevant Lender and each Borrower shall promptly cooperate with each other in completing any procedural formalities (including submitting forms and documents required to the appropriate Tax authority) to the extent possible and necessary for that Borrower to make interest payments (i) without being subject to the Tax Deduction or (ii) to being subject to a reduced Tax Deduction under an applicable Treaty. Paragraph 4 of Section 8.2 shall further apply mutatis mutandis. This Section 6.4 shall not apply in the situations described in the last paragraph of Section 8.2.
Recalculation of Interest. If any applicable law is ever judicially interpreted so as to:
Recalculation of Interest. Should Clause 15 (Tax Gross up and Indemnities) be unenforceable for any reason, the rate of interest on each Advance for each period during which a Tax Deduction is required to be made shall be the percentage rate per annum which is the aggregate of the applicable:
Recalculation of Interest. If any applicable law is ever judicially interpreted so as to deem any distribution, contribution, payment or other amount received by a Member or the Company under this Agreement as interest and so as to render any such amount in excess of the maximum rate or amount of interest permitted by applicable law, then it is the express intent of the Members and the Company that all amounts in excess of the highest lawful rate or amount theretofore collected be credited against any other distributions, contributions, payments or other amounts to be paid by the recipient of the excess amount or refunded to the appropriate Person, and the provisions of this Agreement immediately be deemed reformed, without the necessity of the execution of any new document, so as to comply with the applicable law, but so as to permit the payment of the fullest amount otherwise required hereunder. All sums paid or agreed to be paid that are judicially determined to be interest shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the term of such obligation so that the rate or amount of interest on account of such obligation does not exceed the maximum rate or amount of interest permitted under applicable law. 50 13.19 Confidentiality; Publicity. The Members agree that no Member shall issue any press release concerning formation of the Company or otherwise publicize the terms of this Agreement or the proposed terms of the acquisition by the Company of any assets, without the approval of the Members except as such publicity may be made in the course of normal reporting practices by a Member to its partners, shareholders or members or as otherwise required by law. Furthermore, the Members acknowledge their mutual desire to limit disclosure of the terms of this Agreement, any other agreements entered into in connection with the transactions contemplated hereby, and the parties shall use their good faith efforts to prevent disclosure thereof absent a reasonable business purpose for doing so (such as, by way of example and not by limitation, to demonstrate the financial strength of the Members to potential tenants); provided, however, that any Member may make disclosures if required to do so by applicable law or court order and to such parties attorneys, accountants and other professionals and to potential purchasers and lenders, who have a reasonable need to know such information. Neither Member shall at any time, either during or afte...
