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

Additional Costs in Respect of Letters of Credit. 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 (including any Regulatory Change pertaining to any risk-based capital guideline or other requirement issued by any Governmental Authority) there shall be imposed, modified or deemed applicable any tax, reserve, special deposit, capital adequacy or similar requirement against or with respect to or measured by reference to Letters of Credit and the result shall be to increase the cost to the Administrative Agent of issuing (or any Revolving Lender of purchasing participations in) or maintaining its obligation hereunder to issue (or purchase participations in) any Letter of Credit or reduce any amount receivable by the Administrative Agent or any Revolving Lender hereunder in respect of any Letter of Credit, then, upon demand by the Administrative Agent or such Revolving Lender, the Borrower shall pay promptly, and in any event within 3 Business Days of demand, to the Administrative Agent for its account or the account of such Revolving Lender, as applicable, from time to time as specified by the Administrative Agent or a Revolving Lender, such additional amounts as shall be sufficient to compensate the Administrative Agent or such Revolving Lender for such increased costs or reductions in amount.

Additional Costs in Respect of Letters of Credit. 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 (including any Regulatory Change pertaining to or any risk-based capital guideline or other requirement heretofore or hereafter issued by any Governmental Authority) Authority there shall be imposed, modified or deemed applicable any tax, reserve, special deposit, capital adequacy or similar requirement against or with respect to or measured by reference to Letters of Credit and the result shall be to increase the cost to the Administrative Agent of issuing (or any Revolving Lender of purchasing participations in) or maintaining its obligation hereunder to issue (or purchase participations in) any Letter of Credit or reduce any amount receivable by the Administrative Agent or any Revolving Lender hereunder in respect of any Letter of Credit, then, upon demand by the Administrative Agent or such Revolving Lender, the Borrower shall pay promptly, and in any event within 3 Business Days of demand, immediately to the Administrative Agent for its account or the account of such Revolving Lender, as applicable, from time to time as specified by the Administrative Agent or a Revolving Lender, such additional amounts as the Agent or such Lender, as the case may be, shall have determined in good faith to be sufficient to compensate the Administrative Agent or such Revolving Lender for such increased costs or reductions in amount.

Additional Costs in Respect of Letters of Credit. 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 (including any Regulatory Change pertaining to or any risk-based capital guideline or other requirement heretofore or hereafter issued by any Governmental Authority) Authority there shall be imposed, modified or deemed applicable any tax, reserve, special deposit, capital adequacy or similar requirement against or with respect to or measured by reference to Letters of Credit and the result shall be to increase the cost to the Administrative Agent Issuing Lender of issuing (or any Revolving Lender of purchasing participations in) or maintaining its obligation hereunder to issue (or purchase participations in) any Letter of Credit or reduce any amount receivable by the Administrative Agent Issuing Lender or any Revolving Lender hereunder in respect of any Letter of Credit, then, upon demand by the Administrative Agent Issuing Lender or such Revolving Lender, the Borrower shall pay promptly, and in any event within 3 three (3) Business Days of demand, to the Administrative Agent for its account or the account of the Issuing Lender or such Revolving Lender, as applicable, from time to time as specified by the Administrative Agent Issuing Lender or a Revolving Lender, such additional amounts as shall be sufficient to compensate the Administrative Agent Issuing Lender or such Revolving Lender for such increased costs or reductions in amount.

Additional Costs in Respect of Letters of Credit. 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 (including any Regulatory Change pertaining to or any risk-based capital guideline or other requirement heretofore or hereafter issued by any Governmental Authority) Authority there shall be imposed, modified or deemed applicable any tax, reserve, special deposit, capital adequacy or similar requirement against or with respect to or measured by reference to Letters of Credit and the result shall be to increase the cost to the Administrative Agent L/C Issuer of issuing (or any Revolving Lender of purchasing participations in) or maintaining its obligation hereunder to issue (or purchase participations in) any Letter of Credit or reduce any amount receivable by the Administrative Agent L/C Issuer or any Revolving Lender hereunder in respect of any Letter of Credit, then, upon demand by the Administrative Agent L/C Issuer or such Revolving Lender, the Borrower shall pay promptly, and in any event within 3 Business Days of demand, to the Administrative Agent L/C Issuer for its account or the account of such Revolving Lender, as applicable, from time to time as specified by the Administrative Agent L/C Issuer or a Revolving Lender, such additional amounts as shall be sufficient to compensate the Administrative Agent L/C Issuer or such Revolving Lender for such increased costs or reductions in amount.

Additional Costs in Respect of Letters of Credit. 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 (including any Regulatory Change pertaining to or any risk-based capital guideline or other requirement heretofore or hereafter issued by any Governmental Authority) Authority there shall be imposed, modified or deemed applicable any taxtax (other than an Excluded Tax), reserve, special deposit, capital adequacy or similar requirement against or with respect to or measured by reference to Letters of Credit and the result shall be to increase the cost to the Administrative Agent Issuing Bank of issuing (or any Revolving Lender of purchasing participations in) or maintaining its obligation hereunder to issue (or purchase participations in) any Letter of Credit or reduce any amount receivable by the Administrative Agent Issuing Bank or any Revolving Lender hereunder in respect of any Letter of Credit, then, upon demand by the Administrative Agent Issuing Bank or such Revolving Lender, the Borrower shall pay promptly, and in any event within 3 1 Business Days Day of demand, pay to the Issuing Bank or, in the case of such Lender, to the Administrative Agent for its account or the account of such Revolving Lender, as applicable, from time to time as specified by the Administrative Agent Issuing Bank or a Revolving such Lender, such additional amounts as shall be sufficient to compensate the Administrative Agent Issuing Bank or such Revolving Lender for such increased costs or reductions in amount.

Additional Costs in Respect of Letters of Credit. 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 (including any Regulatory Change pertaining to or any risk-based capital guideline or other requirement heretofore or hereafter issued by any Governmental Authority) Authority there shall be imposed, modified or deemed applicable any tax, reserve, special deposit, capital adequacy or similar requirement against or with respect to or measured by reference to Letters of Credit and the result shall be to increase the cost to the Administrative Agent an Issuing Bank of issuing (or any Revolving Lender of purchasing participations in) or maintaining its obligation hereunder to issue (or purchase participations in) any Letter of Credit or reduce any amount receivable by the Administrative Agent an Issuing Bank or any Revolving Lender hereunder in respect of any Letter of Credit, then, upon demand by the Administrative Agent such Issuing Bank or such Revolving Lender, the Borrower shall promptly pay promptly, (and in any event within 3 1 Business Days Day of such demand) to such Issuing Bank or, in the case of such Lender, to the Administrative Agent for its account or the account of such Revolving Lender, as applicable, from time to time as specified by the Administrative Agent such Issuing Bank or a Revolving such Lender, such additional amounts as shall be sufficient to compensate the Administrative Agent such Issuing Bank or such Revolving Lender for such increased costs or reductions in amount.

Additional Costs in Respect of Letters of Credit. 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 (including any Regulatory Change pertaining to or any risk-based capital guideline or other requirement heretofore or hereafter issued by any Governmental Authority) Authority there shall be imposed, modified or deemed applicable any tax, reserve, special deposit, capital adequacy or similar requirement against or with respect to or measured by reference to Letters of Credit and the result shall be to increase the cost to the Administrative Agent applicable Issuing Bank of issuing (or any Revolving Lender of purchasing participations in) or maintaining its obligation hereunder to issue (or purchase participations in) any Letter of Credit or reduce any amount receivable by the Administrative Agent an Issuing Bank or any Revolving Lender hereunder in respect of any Letter of Credit, then, upon demand by the Administrative Agent such Issuing Bank or such Revolving Lender, the Borrower shall pay promptly, and in any event within 3 Business Days of demand, to such Issuing Bank or, in the case of such Lender, to the Administrative Agent for its account or the account of such Revolving Lender, as applicable, from time to time as specified by the Administrative Agent such Issuing Bank or a Revolving such Lender, such additional amounts as shall be sufficient to compensate the Administrative Agent such Issuing Bank or such Revolving Lender for such increased costs or reductions in amount.