Capital Adequacy. If any Lender shall reasonably determine that the adoption or taking effect of, or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Date, or any change after the Closing Date in the interpretation, administration or application thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation, administration or application thereof, or the compliance by any Lender or any Person controlling such Lender with any request, guideline or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Date, has or would have the effect of reducing the rate of return on such Lender’s or such controlling Person’s capital as a consequence of such Lender’s obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender or such controlling Person could have achieved but for such adoption, taking effect, change, interpretation, administration, application or compliance (taking into consideration such Lender’s or such controlling Person’s policies with respect to capital adequacy) then from time to time, upon demand by such Lender (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender such additional amount as will compensate such Lender or such controlling Person for such reduction, so long as such amounts have accrued on or after the day which is ninety (90) days prior to the date on which such Lender first made demand therefor.
Appears in 4 contracts
Samples: Credit Agreement (Collegiate Pacific Inc), Credit Agreement (Sport Supply Group, Inc.), Credit Agreement (Collegiate Pacific Inc)
Capital Adequacy. If Except as otherwise reflected in the interest rate applicable under this Agreement, if any Lender Bank or the Issuing Bank shall reasonably determine that have determined that, after the date hereof, the adoption or taking effect of, or any change in, of any applicable Law regarding capital adequacy, or any Change in each instance, after the Closing DateLaw, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender or any Person controlling such Lender with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency adopted agency, in each case, whether or otherwise taking effect after not having the Closing Dateforce of law, has or would have the effect of reducing the rate of return on capital of such Lender’s Bank or the Issuing Bank (or any corporation controlling such controlling Person’s capital Bank or the Issuing Bank) as a consequence of such LenderBank’s or the Issuing Bank’s obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender Bank or the Issuing Bank (or any corporation controlling such controlling Person Bank or the Issuing Bank) could have achieved but for such adoption, taking effect, change, interpretation, administration, application request or compliance directive (taking into consideration such Lender’s or such controlling Person’s its policies with respect to capital adequacy) ), in each case, whether or not having the force of law, by an amount deemed by such Bank or the Issuing Bank to be material, then from time to time, upon within fifteen (15) days after demand by such Lender (which demand shall be accompanied by a statement setting forth Bank or the basis for such demand and a calculation of Issuing Bank, the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), applicable Borrower shall promptly pay to such Lender Bank or the Issuing Bank such additional amount or amounts as will will, in such Bank’s or the Issuing Bank’s reasonable determination, fairly compensate such Lender Bank or the Issuing Bank (or any corporation controlling such controlling Person Bank or the Issuing Bank) for such reduction, so long as . A Borrower shall only be obligated to pay a Bank or the Issuing Bank such amounts have accrued on or after the day which is ninety (90) days prior cost increases to the date extent such Bank or the Issuing Bank has allocated such costs among its customers in good faith and on which such Lender first made demand thereforan equitable and nondiscriminatory basis.
Appears in 4 contracts
Samples: Global Revolving Credit Agreement (Ryder System Inc), Global Revolving Credit Agreement (Ryder System Inc), Global Revolving Credit Agreement (Ryder System Inc)
Capital Adequacy. If any Lender shall reasonably determine that (a) the adoption or taking effect of, or any change in, any applicable Law regarding capital adequacy, in each instance, introduction after the Closing Datedate hereof of any Capital Adequacy Regulation, or (b) any change after the Closing Date date hereof in any Capital Adequacy Regulation, (c) any change after the date hereof in the interpretation, interpretation or administration or application thereof of any Capital Adequacy Regulation by any Governmental Authority, central bank or comparable agency other Governmental Authority charged with the interpretation, interpretation or administration or application thereof, or the (d) compliance by such Lender (or its Lending Office) or any corporation controlling such Lender, with any Capital Adequacy Regulation; affects or would affect the amount of capital required or expected to be maintained by such Lender or any Person corporation controlling such Lender with any request, guideline or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Date, has or would have the effect of reducing the rate of return on such Lender’s or such controlling Person’s capital as a consequence of such Lender’s obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender or such controlling Person could have achieved but for such adoption, taking effect, change, interpretation, administration, application or compliance and (taking into consideration such Lender’s or such controlling Personcorporation’s policies with respect to capital adequacyadequacy and such Lender’s desired return on capital) then determines that the amount of such capital is increased as a consequence of its Commitments, Loans, credits or obligations under this Agreement, then, within 10 Business Days after demand of such Lender, the Company shall upon demand pay to such Lender, from time to time, upon demand time as specified by such Lender (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detailLender, a copy of which shall be furnished additional amounts sufficient to Administrative Agent), Borrower shall promptly pay to such Lender such additional amount as will compensate such Lender or such controlling Person for such reductionincrease; provided, so long as however, that, if the designation of an alternative branch or lending office of the Lender will avoid or reduce such amounts have accrued on increased amount the Lender will designate such alternative branch or after the day which lending office, subject to its determination that such designation is ninety (90) days prior not disadvantageous to the date on which such Lender first made demand thereforLender.
Appears in 4 contracts
Samples: Credit Agreement (Science Applications International Corp), Credit Agreement (Science Applications International Corp), Credit Agreement (Science Applications International Corp)
Capital Adequacy. If any Lender shall reasonably determine that the adoption or taking effect of, or any change in, any applicable Law regarding capital adequacy, in each instanceIf, after the Closing Datedate of this Agreement, any Bank or any change after the Closing Date Issuing Bank shall have determined in the interpretation, administration good faith that a Regulatory Change affecting such Bank or application thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation, administration or application thereof, or the compliance by any Lender such Issuing Bank or any Person controlling Lending Office of such Lender with any requestBank or such Bank’s or such Issuing Bank’s holding company, guideline or directive if any, regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Date, liquidity requirements has or would have the effect of reducing the rate of return on such LenderBank’s or such controlling PersonIssuing Bank’s capital or on the capital of such Bank’s or such Issuing Bank’s holding company, if any, as a consequence of this Agreement, the Revolving Credit Commitments of such Lender’s obligations hereunder Bank or under any Support Agreement the Loans made by, or Lender Letter participations in Letters of Credit held by, such Bank, or the Letters of Credit issued by such Issuing Bank, to a level below that which such Lender Bank or such controlling Person Issuing Bank or such Bank’s or such Issuing Bank’s holding company could have achieved but for such adoption, taking effect, change, interpretation, administration, application or compliance Regulatory Change (taking into consideration such LenderBank’s or such controlling PersonIssuing Bank’s policies and the policies of such Bank’s or such Issuing Bank’s holding company with respect to capital adequacy) adequacy and liquidity), then from time to time, upon demand by such Lender (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), time each Borrower shall promptly will pay to such Lender Bank or such Issuing Bank, as the case may be, its Applicable Share of such additional amount or amounts as will compensate such Lender Bank or such controlling Person Issuing Bank or such Bank’s or such Issuing Bank’s holding company for any such reductionreduction suffered. All determinations made in good faith by such Bank or such Issuing Bank of the additional amount or amounts required to compensate such Bank or such Issuing Bank in respect of the foregoing shall be conclusive in the absence of manifest error. In determining such amount or amounts, so long as such amounts have accrued on Bank or after the day which is ninety (90) days prior such Issuing Bank may use any reasonable averaging and attribution methods. No amount payable pursuant to the date on which such Lender first made demand thereforthis Section 2.15 shall be duplicative of any amount payable pursuant to Section 2.13.
Appears in 4 contracts
Samples: Loan Agreement (Spire Missouri Inc), Loan Agreement (Spire Missouri Inc), Loan Agreement (Spire Alabama Inc)
Capital Adequacy. If any Lender shall reasonably determine or Issuing Bank determines that the adoption any Change in Law affecting such Lender or taking effect of, Issuing Bank or any change inlending office of such Lender or such Lender’s or Issuing Bank’s holding company, any applicable Law if any, regarding capital adequacy, in each instance, after the Closing Date, or any change after the Closing Date in the interpretation, administration or application thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation, administration or application thereof, or the compliance by any Lender or any Person controlling such Lender with any request, guideline or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateliquidity requirements, has or would have the effect of reducing the rate of return on such Lender’s or such controlling PersonIssuing Bank’s capital or on the capital of such Lender’s or Issuing Bank’s holding company, if any, as a consequence of this Agreement, the Revolving Credit Commitments of such Lender or the Loans made by, or participations in Letters of Credit held by, such Lender’s obligations hereunder , or under any Support Agreement or Lender Letter the Letters of Credit issued by any Issuing Bank, to a level below that which such Lender or Issuing Bank or such controlling Person Lender’s or Issuing Bank’s holding company could have achieved but for such adoption, taking effect, change, interpretation, administration, application or compliance Change in Law (taking into consideration such Lender’s or such controlling PersonIssuing Bank’s policies and the policies of such Lender’s or Issuing Bank’s holding company with respect to capital adequacy) then from time to time), then, upon demand receipt by the Borrower of a certificate delivered by such Lender (which demand shall be accompanied by a statement setting forth or Issuing Bank pursuant to Section 3.3, the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly will pay to such Lender or Issuing Bank, as the case may be, such additional amount or amounts as will compensate such Lender or Issuing Bank or such controlling Person Lender’s or Issuing Bank’s holding company for any such reductionreduction suffered; provided, so long as such amounts have accrued on or after the day which is ninety (90) days prior to the date on which in each case, that such Lender first made demand thereforor such Issuing Bank has requested such payments from similarly situated borrowers.
Appears in 4 contracts
Samples: Credit Agreement (Horton D R Inc /De/), Credit Agreement (Horton D R Inc /De/), Credit Agreement (Horton D R Inc /De/)
Capital Adequacy. If any Lender shall reasonably determine that after the date hereof, the adoption of any Applicable Law regarding the capital adequacy or taking effect ofliquidity of banks or bank holding companies, or any change in, any applicable in Applicable Law regarding capital adequacy, in each instance, (whether adopted before or after the Closing Effective Date, ) or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, including any such change resulting from the enactment or issuance of any regulation or regulatory interpretation affecting existing Applicable Law, or compliance by such Lender (or the compliance by any Lender or any Person controlling bank holding company of such Lender Lender) with any request, guideline or directive regarding capital adequacy or liquidity (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on such any Lender’s or such controlling Person’s capital as a consequence of such Lender’s its obligations hereunder or under any Support Agreement or Lender Letter of Credit with respect to the Loans to a level below that which such Lender or such controlling Person it could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s or such controlling Person’s policies with respect to capital adequacyadequacy or liquidity immediately before such adoption, change or compliance and assuming that such Lender’s (or the bank holding company of such Lender) then from time capital was fully utilized prior to timesuch adoption, change or compliance) by an amount reasonably deemed by such Lender to be material, then, upon demand by such Lender (which demand shall be accompanied by a statement setting forth Lender, the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender such additional amount amounts as will shall be sufficient to compensate such Lender or such controlling Person (on an after-tax basis and without duplication of amounts paid by the Borrower pursuant to Section 10.3) for such reductionreduced return which is reasonably allocable to this Agreement, so long as together with interest on such amounts have accrued on or amount from the fourth (4th) Business Day after the day which is ninety date of demand or the Term Loan Maturity Date, as applicable, until payment in full thereof at the Default Rate; provided that notwithstanding anything herein to the contrary, (90x) days the Xxxx-Xxxxx Xxxx Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be enacted, adopted or issued after the date hereof, regardless of the date enacted, adopted or issued. A certificate of such Lender setting forth the amount to be paid to such Lender by the Borrower as a result of any event referred to in this paragraph and supporting calculations in reasonable detail shall be presumptively correct absent manifest error. Notwithstanding any other provision of this Section 2.11, no Lender shall demand compensation for any increased cost or reduction referred to above if it shall not at the time be the general policy or practice of such Lender to demand such compensation in similar circumstances under comparable provisions of other credit agreements. Failure or delay on the part of any Lender to demand compensation pursuant to the foregoing provisions of this Section 2.11 shall not constitute a waiver of such Lender’s right to demand such compensation, provided that the Borrower shall not be required to compensate a Lender pursuant to the foregoing provisions of this Section for any increased costs incurred or reductions suffered more than six (6) months prior to the date on which that such Lender first made demand therefornotifies the Borrower of the circumstances giving rise to such increased costs or reductions and of such Lender’s intention to claim compensation therefor (except that, if the circumstances giving rise to such increased costs or reductions is retroactive, then the six (6) month period referred to above shall be extended to include the period of retroactive effect thereof).
Appears in 4 contracts
Samples: Term Loan Agreement (American Tower Corp /Ma/), 364 Day Term Loan Agreement (American Tower Corp /Ma/), 3 Year Term Loan Agreement (American Tower Corp /Ma/)
Capital Adequacy. If any Lender shall reasonably determine that after the date hereof, the adoption of any Applicable Law regarding the capital adequacy or taking effect ofliquidity of banks or bank holding companies, or any change in, any applicable in Applicable Law regarding capital adequacy, in each instance, (whether adopted before or after the Closing Agreement Date, ) or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authoritygovernmental authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, including any such change resulting from the enactment or issuance of any regulation or regulatory interpretation affecting existing Applicable Law, or compliance by such Lender (or the compliance by any Lender or any Person controlling bank holding company of such Lender Lender) with any request, guideline or directive regarding capital adequacy or liquidity (whether or not having the force of law) of any such Governmental Authoritygovernmental authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on such any Lender’s or such controlling Person’s capital as a consequence of such Lender’s its obligations hereunder or under any Support Agreement or Lender Letter of Credit with respect to the Loans to a level below that which such Lender or such controlling Person it could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s or such controlling Person’s policies with respect to capital adequacyadequacy or liquidity immediately before such adoption, change or compliance and assuming that such Lender’s (or the bank holding company of such Lender) then from time capital was fully utilized prior to timesuch adoption, change or compliance) by an amount reasonably deemed by such Lender to be material, then, upon demand by such Lender (which demand shall be accompanied by a statement setting forth Lender, the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender such additional amount amounts as will shall be sufficient to compensate such Lender or such controlling Person (on an after-tax basis and without duplication of amounts paid by the Borrower pursuant to Section 10.3) for such reductionreduced return which is reasonably allocable to this Agreement, so long as together with interest on such amounts have accrued on or amount from the fourth (4th) Business Day after the day which is ninety date of demand or the Term Loan Maturity Date, as applicable, until payment in full thereof at the Default Rate; provided that notwithstanding anything herein to the contrary, (90x) days the Xxxx-Xxxxx Xxxx Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be enacted, adopted or issued after the date hereof, regardless of the date enacted, adopted or issued. A certificate of such Lender setting forth the amount to be paid to such Lender by the Borrower as a result of any event referred to in this paragraph and supporting calculations in reasonable detail shall be presumptively correct absent manifest error. Notwithstanding any other provision of this Section 2.11, no Lender shall demand compensation for any increased cost or reduction referred to above if it shall not at the time be the general policy or practice of such Lender to demand such compensation in similar circumstances under comparable provisions of other credit agreements. Failure or delay on the part of any Lender to demand compensation pursuant to the foregoing provisions of this Section 2.11 shall not constitute a waiver of such Lender’s right to demand such compensation, provided that the Borrower shall not be required to compensate a Lender pursuant to the foregoing provisions of this Section for any increased costs incurred or reductions suffered more than six (6) months prior to the date on which that such Lender first made demand therefornotifies the Borrower of the circumstances giving rise to such increased costs or reductions and of such Lender’s intention to claim compensation therefor (except that, if the circumstances giving rise to such increased costs or reductions is retroactive, then the six (6) month period referred to above shall be extended to include the period of retroactive effect thereof).
Appears in 4 contracts
Samples: Term Loan Agreement (American Tower Corp /Ma/), Term Loan Agreement (American Tower Corp /Ma/), Term Loan Agreement (American Tower Corp /Ma/)
Capital Adequacy. If any Lender shall reasonably determine that after the date hereof, the adoption of any Applicable Law regarding the capital adequacy of banks or taking effect ofbank holding companies, or any change in, any applicable in Applicable Law regarding capital adequacy, in each instance, (whether adopted before or after the Closing Agreement Date, ) or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authoritygovernmental authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender or any Person controlling such Lender Bank with any request, guideline or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authoritygovernmental authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on such Lender’s any Bank's or such controlling Person’s any Bank's holding company's capital as a consequence of such Lender’s its obligations hereunder or under any Support Agreement or Lender Letter of Credit with respect to the Loans and the Commitments to a level below that which such Lender or such controlling Person it could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s or such controlling Person’s Bank's policies with respect to capital adequacyadequacy immediately before such adoption, change or compliance and assuming that such Bank's capital was fully utilized prior to such adoption, change or compliance) then from time by an amount reasonably deemed by such Bank to timebe material, then, upon the earlier of demand by such Lender (which demand shall be accompanied by a statement setting forth Bank or the basis for such demand and a calculation of Maturity Date, the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender Bank such additional amount amounts as will shall be sufficient to compensate such Lender or such controlling Person Bank for such reductionreduced return, so long as together with interest on such amounts have accrued on or amount from the fourth (4th) day after the day which is ninety (90) days prior date of demand or the Maturity Date, as applicable, until payment in full thereof at the Default Rate. A certificate of such Bank setting forth the amount to be paid to such Bank by the date on which such Lender first made demand thereforBorrower as a result of any event referred to in this paragraph and supporting calculations in reasonable detail shall be presumptively correct absent manifest error.
Appears in 4 contracts
Samples: Loan Agreement (Metrocall Inc), Loan Agreement (Metrocall Inc), Loan Agreement (Metrocall Inc)
Capital Adequacy. If any Lender shall reasonably determine that the adoption or taking effect of, or any change in, any applicable Law regarding capital adequacy, in each instanceIf, after the Closing Datedate of this Agreement, any Bank or the Issuing Bank shall have determined in good faith that a Regulatory Change affecting such Bank or the Issuing Bank or any change after the Closing Date in the interpretation, administration Lending Office of such Bank or application thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation, administration or application thereof, such Bank’s or the compliance by any Lender or any Person controlling such Lender with any requestIssuing Bank’s holding company, guideline or directive if any, regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Date, requirements has or would have the effect of reducing the rate of return on such LenderBank’s or such controlling Personthe Issuing Bank’s capital or on the capital of such Bank’s or the Issuing Bank’s holding company, if any, as a consequence of this Agreement, the Revolving Credit Commitments of such Lender’s obligations hereunder Bank or under any Support Agreement the Loans made by, or Lender Letter participations in Letters of Credit held by, such Bank, or the Letters of Credit issued by such Issuing Bank, to a level below that which such Lender Bank or such controlling Person Issuing Bank or such Bank’s or the Issuing Bank’s holding company could have achieved but for such adoption, taking effect, change, interpretation, administration, application or compliance Regulatory Change (taking into consideration such LenderBank’s or such controlling Personthe Issuing Bank’s policies and the policies of such Bank’s or the Issuing Bank’s holding company with respect to capital adequacy) ), then from time to time, upon demand by such Lender (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), time Borrower shall promptly will pay to such Lender Bank or the Issuing Bank, as the case may be, such additional amount or amounts as will compensate such Lender Bank or the Issuing Bank or such controlling Person Bank’s or the Issuing Bank’s holding company for any such reductionreduction suffered. All determinations made in good faith by such Bank or the Issuing Bank of the additional amount or amounts required to compensate such Bank or the Issuing Bank in respect of the foregoing shall be conclusive in the absence of manifest error. In determining such amount or amounts, so long as such amounts have accrued on Bank or after the day which is ninety (90) days prior to the date on which such Lender first made demand thereforIssuing Bank may use any reasonable averaging and attribution methods.
Appears in 3 contracts
Samples: Loan Agreement (Laclede Group Inc), Loan Agreement (Laclede Gas Co), Loan Agreement (Laclede Group Inc)
Capital Adequacy. If after the Agreement Date, any Lender or any Issuing Bank (or any Affiliate of the foregoing) shall have reasonably determine determined that the adoption of any applicable law, governmental rule, regulation or taking effect oforder regarding the capital adequacy of banks or bank holding companies, or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Datetherein, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authoritygovernmental authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any such Lender or such Issuing Bank (or any Person controlling such Lender Affiliate of the foregoing) with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authoritygovernmental authority, central bank or comparable agency adopted (but only if such adoption, change, request or otherwise taking effect directive occurs after the Closing Agreement Date), has or would have the effect of reducing the rate of return on such Lender’s or such controlling PersonIssuing Bank’s (or any Affiliate of the foregoing) capital as a consequence of such Lender’s or such Issuing Bank’s Revolving Loan Commitment or obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender or such controlling Person it could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s or such controlling PersonIssuing Bank’s (or any Affiliate of the foregoing) policies with respect to capital adequacyadequacy immediately before such adoption, change or compliance and assuming that such Lender’s or such Issuing Bank’s (or any Affiliate of the foregoing) then from time capital was fully utilized prior to timesuch adoption, change or compliance), then, promptly upon demand by such Lender (which demand or such Issuing Bank, the Borrowers shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly immediately pay to such Lender or such Issuing Bank such additional amount amounts as will shall be sufficient to compensate such Lender or such controlling Person Issuing Bank for any such reductionreduction actually suffered; provided, so long as such however, that there shall be no duplication of amounts have accrued on or after the day which is ninety (90) days prior paid to the date on which a Lender pursuant to this sentence and Section 12.3. A certificate of such Lender first made demand thereforor such Issuing Bank setting forth the amount to be paid to such Lender or such Issuing Bank by the Borrowers as a result of any event referred to in this paragraph shall, absent manifest error, be conclusive.
Appears in 3 contracts
Samples: Credit Agreement (Oxford Industries Inc), Credit Agreement (Oxford Industries Inc), Credit Agreement (Oxford Industries Inc)
Capital Adequacy. If any Lender shall reasonably determine that the adoption or taking effect of, or any change in, any applicable Law regarding capital adequacy, in each instanceIf, after the Closing Datedate of this Agreement, any Bank or any change after the Closing Date Issuing Bank shall have determined in the interpretation, administration good faith that a Regulatory Change affecting such Bank or application thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation, administration or application thereof, or the compliance by any Lender such Issuing Bank or any Person controlling Lending Office of such Lender with any requestBank or such Bank’s or such Issuing Bank’s holding company, guideline or directive if any, regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Date, liquidity requirements has or would have the effect of reducing the rate of return on such LenderBank’s or such controlling PersonIssuing Bank’s capital or on the capital of such Bank’s or such Issuing Bank’s holding company, if any, as a consequence of this Agreement, the Revolving Credit Commitments of such Lender’s obligations hereunder Bank or under any Support Agreement the Loans made by, or Lender Letter participations in Letters of Credit held by, such Bank, or the Letters of Credit issued by such Issuing Bank, to a level below that which such Lender Bank or such controlling Person Issuing Bank or such Bank’s or such Issuing Bank’s holding company could have achieved but for such adoption, taking effect, change, interpretation, administration, application or compliance Regulatory Change (taking into consideration such LenderBank’s or such controlling PersonIssuing Bank’s policies and the policies of such Bank’s or such Issuing Bank’s holding company with respect to capital adequacy) ), then from time to time, upon demand by such Lender (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), time Borrower shall promptly will pay to such Lender Bank or such Issuing Bank, as the case may be, such additional amount or amounts as will compensate such Lender Bank or such controlling Person Issuing Bank or such Bank’s or such Issuing Bank’s holding company for any such reductionreduction suffered. All determinations made in good faith by such Bank or such Issuing Bank of the additional amount or amounts required to compensate such Bank or such Issuing Bank in respect of the foregoing shall be conclusive in the absence of manifest error. In determining such amount or amounts, so long as such amounts have accrued on Bank or after the day which is ninety (90) days prior to the date on which such Lender first made demand thereforIssuing Bank may use any reasonable averaging and attribution methods.
Appears in 3 contracts
Samples: Loan Agreement (Laclede Gas Co), Loan Agreement (Laclede Gas Co), Loan Agreement (Laclede Group Inc)
Capital Adequacy. (a) If any Lender Bank shall reasonably determine have determined that after the date hereof the adoption or taking effect of, of or any change in, in any applicable Requirement of Law (including any rules or regulations issued under or implementing any existing law) regarding capital adequacy, in each instance, after the Closing Date, adequacy or any change after the Closing Date liquidity or in the interpretation, administration interpretation or application thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation, administration or application thereof, or the compliance by any Lender such Bank or any Person corporation controlling such Lender Bank with any request, guideline request or directive after the date hereof regarding capital adequacy or liquidity (whether or not having the force of law) of from any such central bank or Governmental Authority, central bank does or comparable agency adopted or otherwise taking effect after the Closing Date, has or would shall have the effect of reducing the rate of return on such LenderBank’s or such controlling Personcorporation’s capital as a consequence of such Lender’s its obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender Bank or such controlling Person corporation could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such LenderBank’s or such controlling Personcorporation’s policies with respect to capital adequacyadequacy or liquidity) by an amount which is reasonably deemed by such Bank to be material, then from time to time, upon demand after submission by such Lender Bank, through the Agent, to the Company of a written request therefor (such request, which demand shall be accompanied by a statement setting forth conclusive and binding upon all parties in the absence of manifest error, shall include details reasonably sufficient to establish the basis for such demand additional amounts payable and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished submitted to Administrative Agentthe Company within 30 Business Days after it becomes aware of such fact), Borrower shall promptly the Company shall, within 15 Business Days of such written request, pay to such Lender Bank such additional amount or amounts as will compensate such Lender or such controlling Person Bank for such reduction, so long as such . The agreements in this subsection 2.14 shall survive the termination of this Agreement and payment of the Loans and all other amounts have accrued on or after the day which is ninety payable hereunder.
(90b) days prior Notwithstanding anything herein to the contrary (i) all requests, rules, guidelines, requirements and directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or by United States or foreign regulatory authorities, in each case pursuant to Basel III, and (ii) the Xxxx-Xxxxx Xxxx Street Reform and Consumer Protection Act and all requests, rules, guidelines, requirements and directives thereunder or issued in connection therewith or in implementation thereof, shall in each case be deemed to be a change in a Requirement of Law, regardless of the date on which such Lender first made demand thereforenacted, adopted, issued or implemented.
Appears in 3 contracts
Samples: 364 Day Revolving Credit Agreement (Humana Inc), 364 Day Revolving Credit Agreement (Humana Inc), Term Loan Credit Agreement (Humana Inc)
Capital Adequacy. If any Lender or any Issuing Bank shall reasonably determine have determined that the adoption after the date hereof of any other law, rule, regulation or taking effect ofguideline regarding capital adequacy, or any change in, in any applicable Law regarding capital adequacy, in each instance, after of the Closing Date, foregoing or any change after the Closing Date in the interpretation, interpretation or administration or application thereof of any of the foregoing by any Governmental Authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender (or any Person controlling lending office of such Lender Lender) or any Issuing Bank or any Lender’s or any Issuing Bank’s holding company with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authorityauthority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on such Lender’s or such controlling PersonIssuing Bank’s capital or on the capital of such Lender’s or Issuing Bank’s holding company, if any, as a consequence of this Agreement, such Lender’s obligations hereunder Commitment, the Loans made by such Lender pursuant hereto, or under any Support Agreement or Lender Letter of Credit or participation interest therein to a level below that which such Lender or Issuing Bank or such controlling Person Lender’s or Issuing Bank’s holding company could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s or such controlling PersonIssuing Bank’s policies and the policies of such Lender’s or Issuing Bank’s holding company with respect to capital adequacy) by an amount deemed by such Lender or Issuing Bank to be material, then from time to time, upon demand by such Lender (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender time such additional amount or amounts as will compensate such Lender or Issuing Bank for any such controlling Person for such reduction, so long as such amounts have accrued on or after reduction suffered will be paid by the day which is ninety (90) days prior Borrower to the date on which such Lender first made demand thereforor Issuing Bank, as applicable.
Appears in 3 contracts
Samples: Revolving Credit Facility Agreement (Lennox International Inc), Revolving Credit Facility Agreement (Lennox International Inc), Revolving Credit Facility Agreement (Lennox International Inc)
Capital Adequacy. If any Lender shall or Issuing Bank reasonably determine determines that the adoption its required compliance with any law or taking effect of, regulation or any change in, guideline or request from any applicable Law regarding capital adequacy, in each instance, after the Closing Date, central bank or any change after the Closing Date in the interpretation, administration or application thereof by any other Governmental Authority, central bank or comparable agency charged with including, without limitation, the interpretation, administration or application thereof, or implementation of the compliance by any Lender or any Person controlling such Lender with any request, guideline or directive regarding capital adequacy Xxxx-Xxxxx Xxxx Street Reform and Consumer Protection Act (whether or not having the force of law) and any requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States regulatory authorities, in each case pursuant to Basel III (whether or not having the force of any such Governmental Authoritylaw), central bank or comparable agency adopted or otherwise taking effect after the Closing Date, has affects or would have affect the effect amount of reducing capital or liquidity required or expected to be maintained by such Lender or Issuing Bank or any corporation controlling such Lender or Issuing Bank and that the rate amount of return on such Lender’s the capital or such controlling Person’s capital as a consequence liquidity is increased by or based upon the existence of such Lender’s obligations hereunder commitment to lend or under any Support Agreement or Lender Letter such Issuing Bank’s commitment to issue the Letters of Credit to a level below that which and other commitments of this type, then, upon thirty days’ prior written notice by such Lender or such controlling Person could have achieved but for such adoption, taking effect, change, interpretation, administration, application or compliance Issuing Bank (taking into consideration such Lender’s or such controlling Person’s policies with respect to capital adequacy) then from time to time, upon demand by such Lender (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished any such demand to the Administrative Agent), the Borrower shall promptly pay to the Administrative Agent for the account of such Lender or Issuing Bank, as the case may be, from time-to-time as specified by such Lender or Issuing Bank, additional amount as will amounts sufficient to compensate such Lender or such controlling Person for such reductionIssuing Bank, so long as such amounts have accrued on or after in light of the day which is ninety (90) days prior circumstances, to the date on which extent that such Lender first made demand thereforor Issuing Bank, as the case may be, (x) reasonably determines the increase in capital to be allocable to the existence of such Lender’s commitment to lend or such Issuing Bank’s commitment to issue the Letters of Credit under this Agreement and (y) is generally seeking, or intends generally to seek, compensation from similarly situated borrowers under similar credit facilities (to the extent such Lender or Issuing Bank has the right under such similar credit facilities to do so) with respect to such required compliance with any law or regulation or any guideline or request from any central bank or other Governmental Authority regarding capital requirements. A certificate as to the amounts showing in reasonable detail the calculation of the amounts submitted to the Borrower by such Lender or Issuing Bank shall be presumptively correct, absent manifest error.
Appears in 3 contracts
Samples: Third Amended and Restated Credit Agreement (HF Sinclair Corp), Credit Agreement (Holly Energy Partners Lp), Credit Agreement (Holly Energy Partners Lp)
Capital Adequacy. If after the date hereof, any Lender or Issuing Bank (or any affiliate thereof) shall have reasonably determine determined that the adoption of any applicable law, governmental rule, regulation or taking effect oforder regarding the capital adequacy of banks or bank holding companies, or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Datetherein, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authoritygovernmental authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any such Lender or Issuing Bank (or any Person controlling such Lender affiliate thereof) with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authoritygovernmental authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on such Lender’s 's or such controlling Person’s Issuing Bank's (or any affiliate thereof) capital as a consequence of such Lender’s 's or Issuing Bank's Commitments or obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender or such controlling Person it could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s 's or such controlling Person’s Issuing Bank's (or any affiliate thereof) policies with respect to capital adequacyadequacy immediately before such adoption, change or compliance and assuming that such Lender's or Issuing Bank's (or any affiliate thereof) then from time capital was fully utilized prior to timesuch adoption, change or compliance), then, upon demand by such Lender (which demand or Issuing Bank, the Borrowers shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly immediately pay to such Lender or Issuing Bank such additional amount amounts as will shall be sufficient to compensate such Lender or Issuing Bank for any such controlling Person for such reductionreduction actually suffered; provided, so long as such however, that there shall be no duplication of amounts have accrued on paid to a Lender or after the day which is ninety (90) days prior Issuing Bank pursuant to the date on which this sentence and Section 11.3 hereof. A certificate of such Lender first made demand thereforor Issuing Bank setting forth the amount to be paid to such Lender or Issuing Bank by the Borrowers as a result of any event referred to in this paragraph shall, absent manifest error, be conclusive.
Appears in 3 contracts
Samples: Credit Agreement (Bull Run Corp), Credit Agreement (Bull Run Corp), Credit Agreement (Bull Run Corp)
Capital Adequacy. If any Lender Bank shall reasonably determine that have determined that, after the date hereof, (i) the adoption of any applicable law, rule or taking effect ofregulation regarding capital adequacy, or any change inin any such law, any applicable Law regarding capital adequacyrule, in each instance, after the Closing Dateor regulation, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authoritygovernmental authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender or any Person controlling such Lender with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authorityauthority, central bank or comparable agency adopted agency, or otherwise taking effect after (ii) compliance by such Bank or the Closing DateAdministrative Agent or any corporation controlling such Bank or the Administrative Agent with any law, governmental rule, regulation, policy, guideline or directive (whether or not having the force of law and including any determination by such central bank or other governmental authority that for purposes of capital adequacy requirements the Commitments hereunder do not constitute commitments with an original maturity of one year or less) of any such entity regarding capital adequacy, has or would have the effect of reducing the rate of return on capital of such Lender’s Bank (or any corporation controlling such controlling Person’s capital Bank) as a consequence of such Lender’s Bank's obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender Bank (or any corporation controlling such controlling Person Bank) could have achieved but for such adoption, taking effect, change, interpretation, administration, application request or compliance directive (taking into consideration such Lender’s or such controlling Person’s its policies with respect to capital adequacy) by an amount deemed by such Bank to be material, then from time to time, upon within 15 days after demand by such Lender (which demand shall be accompanied by a statement setting forth Bank, the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender Bank such additional amount or amounts as will will, in such Bank's reasonable determination, fairly compensate such Lender Bank (or any corporation controlling such controlling Person Bank) for such reduction, so long as . Each Bank shall allocate such amounts have accrued cost increases among its customers in good faith and on or after the day which is ninety (90) days prior to the date on which such Lender first made demand thereforan equitable basis.
Appears in 2 contracts
Samples: Loan Agreement (Waste Management Holdings Inc), Loan Agreement (Waste Management Holdings Inc)
Capital Adequacy. If If, after the date hereof, any Lender (or any Affiliate of any Lender) shall have reasonably determine determined that the adoption of any Applicable Law, governmental rule, regulation or taking effect oforder regarding the capital adequacy of banks or bank holding companies, or any Change in Law, or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Date, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender (or any Person controlling such Lender Affiliate of any Lender) with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on the capital of such Lender (or any Affiliate of such Lender’s or such controlling Person’s capital ) as a consequence of any of such Lender’s Revolving Credit Facility or obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender or such controlling Person it could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration the policies of such Lender (or Affiliate of such Lender’s or such controlling Person’s policies ) with respect to capital adequacyadequacy immediately before such adoption, change or compliance and assuming that the capital of such Lender (or Affiliate of such Lender) then from time was fully utilized prior to timesuch adoption, change or compliance), then, upon demand by such Lender (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, with a copy of which shall be furnished such demand to Administrative Agent), Borrower shall promptly immediately pay to Agent, for the benefit of such Lender, such additional amounts as shall be sufficient to compensate such Lender for any such reduction actually suffered; provided, that there shall be no duplication of amounts paid to such Lender such additional amount as will compensate pursuant to this sentence and Section 10.3. A certificate of such Lender or such controlling Person for such reduction, so long as such amounts have accrued on or after setting forth the day which is ninety (90) days prior amount to the date on which be paid to such Lender first made demand thereforby Borrower as a result of any event referred to in this Section 10.5 shall, absent manifest error, be deemed final, binding and conclusive upon Borrower.
Appears in 2 contracts
Samples: Loan and Security Agreement (Hercules Technology Growth Capital Inc), Loan and Security Agreement (Hercules Technology Growth Capital Inc)
Capital Adequacy. If To the extent not covered by Article III hereof, if any Lender Bank shall reasonably determine have determined, after the date hereof, that the adoption of any applicable law, rule, regulation or taking effect ofguideline regarding capital adequacy, or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Datetherein, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authoritygovernmental authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender Bank (or any Person controlling such Lender its lending office) with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authorityauthority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on such Lender’s Bank's capital (or such controlling Person’s the capital of its holding company) as a consequence of such Lender’s its obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender Bank (or such controlling Person its holding company) could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s Bank's policies or such controlling Person’s the policies of its holding company with respect to capital adequacy) by an amount deemed by such Bank to be material, then from time to time, upon within fifteen (15) days after demand by such Lender Bank (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, with a copy of which shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender Bank such additional amount or amounts as will shall compensate such Lender Bank (or such controlling Person its holding company) for such reduction, so long as such amounts have accrued on or after the day which is ninety (90) days prior provided that Borrower's obligation under this Section 3.7 are limited to the date parts of such reduction directly related to the Loans. No Bank shall enforce this provision solely against Borrower or against a few of such Bank's customers without in each case generally enforcing these (or similar) provisions in other contracts (provided that, anything herein to the contrary notwithstanding, (a) no Bank shall be required to disclose to any Company the identity of or the nature of the Bank's relationship with, any other of such Bank's customers and (b) a general written statement of Bank regarding the satisfaction of this requirement shall be satisfactory to Borrower). Each Bank shall designate a different lending office if such designation will avoid the need for, or reduce the amount of, such compensation and will not, in the judgment of such Bank, be otherwise disadvantageous to such Bank. A certificate of any Bank claiming compensation under this Section and setting forth the additional amount or amounts to be paid to it hereunder shall be conclusive in the absence of manifest error. In determining such amount, such Bank may use any reasonable averaging and attribution methods. Failure on the part of any Bank to demand compensation for any reduction in return on capital with respect to any period shall not constitute a waiver of such Bank's rights to demand compensation for any reduction in return on capital in such period or in any other period. The protection of this Section shall be available to each Bank regardless of any possible contention of the invalidity or inapplicability of the law, regulation or other condition which such Lender first made demand thereforshall have been imposed.
Appears in 2 contracts
Samples: Credit Agreement (Park Ohio Holdings Corp), Credit Agreement (Park Ohio Industries Inc/Oh)
Capital Adequacy. If after the date hereof, any Lender shall reasonably determine that the adoption or taking effect ofimplementation of any applicable law, rule, or regulation regarding capital adequacy (including, without limitation, any law, rule, or regulation implementing the Basle Accord) , or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Datetherein, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authority, central bank or comparable agency other Governmental Authority charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender such Bank (or any Person controlling such Lender its parent) with any guideline, request, guideline or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency adopted other Governmental Authority (including, without limitation, any guideline or otherwise taking effect after other requirement implementing the Closing DateBasle Accord), has or would have the effect of reducing the rate of return on such Lender’s Bank's (or such controlling Person’s its parent's) capital as a consequence of such Lender’s its obligations hereunder or under any Support Agreement or Lender Letter of Credit the transactions contemplated hereby to a level below that which such Lender Bank (or such controlling Person its parent) could have achieved but for such adoption, taking effectimplementation, change, interpretation, administration, application or compliance (taking into consideration such Lender’s or such controlling Person’s Bank's policies with respect to capital adequacy) by an amount deemed by such Bank to be material, then from time to time, upon within ten Business Days after demand by such Lender Bank (which with a copy to the Agent), the Borrower agrees to pay to such Bank (or its parent) such additional amount or amounts as will compensate such Bank for such reduction. Any such demand shall be accompanied by a statement certificate of such Bank claiming compensation under this Section and setting forth in reasonable detail the basis for such demand and a calculation of the additional amount thereof in reasonable detail, a copy of which or amounts to be paid to it hereunder shall be furnished to Administrative Agentconclusive (absent manifest error), Borrower shall promptly pay to provided that the determination thereof is made on a reasonable basis. In determining such Lender amount or amounts, such additional amount as will compensate such Lender or such controlling Person for such reduction, so long as such amounts have accrued on or after the day which is ninety (90) days prior to the date on which such Lender first made demand thereforBank may use any reasonable averaging and attribution methods.
Appears in 2 contracts
Samples: Credit Agreement (T-3 Energy Services Inc), Credit Agreement (T-3 Energy Services Inc)
Capital Adequacy. If any Lender Bank shall reasonably determine that have determined that, after the date hereof, (a) the adoption of any applicable law, rule or taking effect ofregulation regarding capital adequacy or liquidity requirements, or any change inin any such law, any applicable Law regarding capital adequacyrule, in each instance, after the Closing Dateor regulation, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authoritygovernmental authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender or any Person controlling such Lender with any request, guideline request or directive regarding capital adequacy or liquidity requirements (whether or not having the force of law) of any such Governmental Authorityauthority, central bank or comparable agency (which, notwithstanding anything herein to the contrary, shall include (x) the Xxxx-Xxxxx Xxxx Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, regardless of the date enacted, adopted or otherwise taking effect after issued), or (b) compliance by such Bank or the Closing DateAdministrative Agent or any corporation controlling such Bank or the Administrative Agent with any law, governmental rule, regulation, policy, guideline or directive (whether or not having the force of law) of any such entity regarding capital adequacy or liquidity requirements, has or would have the effect of reducing the rate of return on capital of such Lender’s Bank (or any corporation controlling such controlling Person’s capital Bank) as a consequence of such LenderBank’s obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender Bank (or any corporation controlling such controlling Person Bank) could have achieved but for such adoption, taking effect, change, interpretation, administration, application request or compliance directive (taking into consideration such Lender’s or such controlling Person’s its policies with respect to capital adequacyadequacy and liquidity) by an amount deemed by such Bank to be material, then from time to time, upon within 15 days after demand by such Lender (which demand shall be accompanied by a statement setting forth Bank, the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender Bank such additional amount or amounts as will will, in such Bank’s reasonable determination, fairly compensate such Lender Bank (or any corporation controlling such controlling Person Bank) for such reduction, so long as . Each Bank shall allocate such amounts have accrued cost increases among its customers in good faith and on or after the day which is ninety (90) days prior to the date on which such Lender first made demand thereforan equitable basis.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Waste Management Inc), Revolving Credit Agreement (Waste Management Inc)
Capital Adequacy. If after the date hereof any Lender shall reasonably determine Bank or the Agent determines that (a) the adoption of or taking effect ofchange in any law, governmental rule, regulation, policy, guideline or directive (whether or not having the force of law) regarding capital requirements for banks or bank holding companies or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Date, or any change after the Closing Date in the interpretation, administration interpretation or application thereof by any Governmental Authority, central bank a court or comparable agency charged governmental authority with the interpretation, administration or application thereofappropriate jurisdiction, or the (b) compliance by any Lender such Bank or the Agent or any Person corporation controlling such Lender Bank or the Agent with any requestlaw, governmental rule, regulation, policy, guideline or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateentity regarding capital adequacy, has or would have the effect of reducing the rate of return on such Lender’s Bank's or such controlling Person’s capital as a consequence of such Lender’s obligations hereunder or under the Agent's commitment with respect to any Support Agreement or Lender Letter of Revolving Credit Loans to a level below that which such Lender Bank or such controlling Person the Agent could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s or such controlling Person’s Bank's on the Agent's then existing policies with respect to capital adequacyadequacy and assuming full utilization of such entity's capital) then from time to time, upon demand by any amount deemed by such Lender Bank or (which demand as the case may be) the Agent to be material, then such Bank or the Agent may notify the Borrower of such fact. To the extent that the amount of such reduction in the return on capital is not reflected in the Base Rate, the Borrower and such Bank or the Agent, as the case may be, shall be accompanied by a statement setting forth the basis for such demand and a calculation thereafter attempt to negotiate in good faith, within thirty (30) days of the amount thereof day on which the Borrower receives such notice, an adjustment payable hereunder that will adequately compensate such Bank or the Agent, as the case may be, in reasonable detaillight of these circumstances. If the Borrower and such Bank or the Agent, a copy of which shall be furnished as the case may be, are unable to Administrative Agent), Borrower shall promptly pay agree to such Lender such additional amount as will compensate such Lender or such controlling Person for such reduction, so long as such amounts have accrued on or after the day which is ninety adjustment within thirty (9030) days prior to of the date on which the Borrower receives such Lender first made demand therefornotice, then commencing on the date of such notice (but not earlier than the effective date of any such increased capital requirement), the fees payable hereunder shall increase by an amount that will, in such Bank's reasonable determination, provide adequate compensation. Each Bank and the Agent shall allocate such cost increases among its customers in good faith and on an equitable basis.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Rti Capital Corp), Revolving Credit Agreement (Republic Engineered Steels Inc)
Capital Adequacy. If In the event that any Lender of the Banks shall reasonably determine have determined that the adoption after the date hereof of any law, rule or taking effect of, or any change in, any applicable Law regulation regarding capital adequacy, in each instance, after the Closing Date, or any change after the Closing Date date hereof therein or in the interpretation, administration interpretation or application thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation, administration or application thereof, or the compliance by any Lender or any Person controlling such Lender Bank with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of from any such Governmental Authority, central bank or comparable agency adopted Governmental Authority including under Basel III or otherwise taking effect after the Closing DateXxxx-Xxxxx, has does or would shall have the effect of reducing the rate of return on such Lender’s or such controlling PersonBank’s capital as a consequence of such Lender’s its obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender or such controlling Person Bank could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s or such controlling PersonBank’s policies with respect to capital adequacy) then from time to time, upon demand by an amount deemed by such Lender (which demand Bank to be material, then after submission by such Bank to the Company of a written request therefor, the amount of interest payable by the Company to such Bank on each Interest Payment Date shall be accompanied increased by a statement setting forth the basis for such demand and a calculation amount (as determined in good faith by such Bank in accordance with its practice applicable in similar circumstances under comparable provisions of the amount thereof in reasonable detail, a copy other financing agreements of which shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender such additional amount similarly situated borrowers) as will compensate such Lender or Bank for the portion of such controlling Person for reduction allocable to the period in respect of which interest is so paid on such reductionInterest Payment Date. A certificate as to any additional amounts payable pursuant to this Section 2.13, so long as together with a statement by such Bank that such amounts have accrued on been calculated consistently with amounts calculated and claimed for in the case of other borrowers parties to revolving credit agreements with such Bank, submitted by such Bank, through the Administrative Agent, to the Company, shall be conclusive evidence, absent demonstrable error, of the facts stated therein. Notwithstanding the foregoing, the Company shall not be required to compensate a Bank for any increased costs or after the day which is ninety (90) reductions incurred more than 270 days prior to the date on which that such Lender first made demand thereforBank notifies the Company of the change in law giving rise to such increased costs or reductions and of such Bank’s intention to claim compensation under this Section; provided that, if the change in law giving rise to such increased costs or reductions is retroactive, then the 270-day period referred to above shall be extended to include the period of retroactive effect thereof.
Appears in 2 contracts
Samples: Credit Agreement (Lazard Group LLC), Credit Agreement (Lazard LTD)
Capital Adequacy. If after the date hereof, any Lender shall reasonably determine that the adoption or taking effect ofimplementation of any applicable law, rule, or regulation regarding capital adequacy (including, without limitation, any law, rule, or regulation implementing the Basle Accord), or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Datetherein, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authority, central bank or comparable agency other Governmental Authority charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender such Bank (or any Person controlling such Lender its parent) with any guideline, request, guideline or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency adopted other Governmental Authority (including, without limitation, any guideline or otherwise taking effect after other requirement implementing the Closing DateBasle Accord), has or would have the effect of reducing the rate of return on such Lender’s Bank's (or such controlling Person’s its parent's) capital as a consequence of such Lender’s its obligations hereunder or under any Support Agreement or Lender Letter of Credit the transactions contemplated hereby to a level below that which such Lender Bank (or such controlling Person its parent) could have achieved but for such adoption, taking effectimplementation, change, interpretation, administration, application or compliance (taking into consideration such Lender’s or such controlling Person’s Bank's policies with respect to capital adequacy) by an amount deemed by such Bank to be material, then from time to time, upon within ten (10) Business Days after demand by the such Lender Bank (which with a copy to the Agent), the Borrower agrees to pay to such Bank (or its parent) such additional amount or amounts as will compensate such Bank for such reduction. Any such demand shall be accompanied by a statement certificate of such Bank claiming compensation under this Section and setting forth in reasonable detail the basis for such demand and a calculation of the additional amount thereof in reasonable detail, a copy of which or amounts to be paid to it hereunder shall be furnished to Administrative Agentconclusive (absent manifest error), Borrower shall promptly pay to provided that the determination thereof is made on a reasonable basis. In determining such Lender amount or amounts, such additional amount as will compensate such Lender or such controlling Person for such reduction, so long as such amounts have accrued on or after the day which is ninety (90) days prior to the date on which such Lender first made demand thereforBank may use any reasonable averaging and attribution methods.
Appears in 2 contracts
Samples: Credit Agreement (Veritas DGC Inc), Credit Agreement (Veritas DGC Inc)
Capital Adequacy. If after the Agreement Date, any Lender or Issuing Bank (or any Affiliate of the foregoing) shall have reasonably determine determined that the adoption of any applicable law, governmental rule, regulation or taking effect oforder regarding the capital adequacy of banks or bank holding companies, or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Datetherein, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any such Lender or Issuing Bank (or any Person controlling such Lender Affiliate of the foregoing) with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency adopted (but only if such adoption, change, request or otherwise taking effect directive occurs after the Closing Agreement Date), has or would have the effect of reducing the rate of return on such Lender’s or such controlling PersonIssuing Bank’s (or any Affiliate of the foregoing) capital as a consequence of such Lender’s or Issuing Bank’s portion of the Revolving Loan Commitment or other obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender or such controlling Person it could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s or such controlling PersonIssuing Bank’s (or any Affiliate of the foregoing) policies with respect to capital adequacyadequacy immediately before such adoption, change or compliance and assuming that such Lender’s or Issuing Bank’s (or any Affiliate of the foregoing) then from time capital was fully utilized prior to timesuch adoption, change or compliance), then, promptly upon demand by such Lender (which demand or Issuing Bank, Borrowers shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly immediately pay to such Lender or Issuing Bank such additional amount amounts as will shall be sufficient to compensate such Lender or Issuing Bank for any such controlling Person for such reduction, so long as such amounts have accrued on or after the day which is ninety (90) days prior to the date on which reduction actually suffered. A certificate of such Lender first made demand thereforor Issuing Bank setting forth the amount to be paid to such Lender or Issuing Bank by Borrowers as a result of any event referred to in this paragraph shall, absent manifest error, be conclusive.
Appears in 2 contracts
Samples: Credit Agreement (Affinity Guest Services, LLC), Credit Agreement (Affinity Group Holding, Inc.)
Capital Adequacy. If the Agent, any Lender Bank or the Issuing Bank shall have reasonably determine that determined that, subsequent to the date hereof, any change in the applicability of any law, rule, regulation or guideline, or the adoption after the date hereof of any other law, rule, regulation or taking effect ofguideline regarding capital adequacy, or any change in, in any applicable Law regarding capital adequacy, in each instance, after of the Closing Date, foregoing or any change after the Closing Date in the interpretation, interpretation or administration or application thereof of any of the foregoing by any Governmental Authoritygovernmental authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender such Bank or the Issuing Bank (or any Person controlling lending office of such Lender Bank or the Issuing Bank) or such Bank's or the Issuing Bank's holding company with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authorityauthority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on such Lender’s Bank's or the Issuing Bank's capital or on the capital of such controlling Person’s capital Bank's or the Issuing Bank's holding company, if any, as a consequence of such Lender’s its obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender Bank or the Issuing Bank or such controlling Person Bank's or the Issuing Bank's holding company could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s Bank's or the Issuing Bank's policies and the policies of such controlling Person’s policies Bank's or the Issuing Bank's holding company with respect to capital adequacy) by an amount deemed by such Bank or the Issuing Bank to be material, then from time to time:
(a) the Agent, upon demand the Bank or the Issuing Bank which is affected by such Lender (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation any of the conditions described above shall notify the Borrower, and any such affected Bank or the Issuing Bank shall notify the Agent of such event, together with the date thereof, the amount thereof of such reduced rate of return and the way in reasonable detail, a copy of which shall be furnished to Administrative Agent), such amount has been calculated; and
(b) the Borrower shall promptly pay to the Agent, the affected Bank or the Issuing Bank, as the case may be, within ten (10) days after the advice referred to in subsection (a) hereinabove, such Lender such additional an amount or amounts as will compensate the Agent, such Lender affected Bank or such controlling Person the Issuing Bank for such reduction, reduced rate of return for so long as such amounts have accrued on or after the day which is ninety (90) days prior to the date on which such Lender first made demand thereforreduction shall remain in effect.
Appears in 2 contracts
Samples: Loan Agreement (Manchester Equipment Co Inc), Loan Agreement (Manchester Equipment Co Inc)
Capital Adequacy. If any Lender shall reasonably determine that the adoption or taking effect ofAgent, the Issuing Bank or any change inBank reasonably determines that compliance with any Applicable Law (including for purposes hereof, any applicable Law regarding capital adequacy, in each instance, after the Closing Date, or any change after the Closing Date in the interpretation, administration or application thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation, administration or application thereof, or the compliance by any Lender or any Person controlling such Lender with any requestdirective, guideline or directive regarding capital adequacy requirement of any Governmental Authority (whether or not having the force of law)) of any such Governmental Authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Date, has affects or would have affect the effect amount of reducing capital required or expected to be maintained by the rate of return on such Lender’s Agent, the Issuing Bank or such Bank or any Person controlling Person’s capital as a consequence the Agent, the Issuing Bank or such Bank and that the amount of such Lender’s obligations hereunder capital is increased by or under any Support Agreement based upon the existence of such Bank's Commitment or Lender the issuance of the Debt Service Reserve Letter of Credit to a level below that which such Lender or such controlling Person could have achieved but for such adoptionoutstanding DSR Loans, taking effect, change, interpretation, administration, application or compliance (taking into consideration such Lender’s or such controlling Person’s policies with respect to capital adequacy) then from time to timethen, upon demand by the Agent, the Issuing Bank or such Lender Bank, the Borrower shall pay to the Agent, the Issuing Bank or such Bank (which demand shall as the case may be), from time to time as specified thereby, additional amounts sufficient to compensate the Agent, the Issuing Bank or such Bank (as the case may be) in light of such circumstances, to the extent that the Agent, the Issuing Bank or such Bank reasonably determines such increase in capital to be accompanied by a statement setting forth allocable to the basis for existence of such demand and a calculation Bank's Commitment or the issuance of the amount thereof in reasonable detail, a copy Debt Service Reserve Letter of which shall be furnished Credit or such DSR Loans. A certificate as to Administrative Agent), Borrower shall promptly pay to such Lender any such additional amount as will compensate such Lender or amounts submitted by the Agent or by the Issuing Bank or a Bank, through the Agent, to the Borrower and the other Banks shall certify that similar demands have been made to other customers of the Agent, the Issuing Bank or such controlling Person Bank (as the case may be) which are subject to similar provisions and shall, in the absence of manifest error, be final and conclusive. In determining such amount, the Agent, the Issuing Bank and each Bank may use any reasonable averaging and attribution methods. Notwithstanding the foregoing, the Borrower shall only be obligated to compensate the Agent, the Issuing Bank or any Bank for such reduction, so long as such amounts have accrued on any amount described in this Section 2.16 arising or after the day which is ninety occurring during (90i) any time period commencing not more than 90 days prior to the date on which the Issuing Bank or such Lender first made Bank notifies the Agent and the Borrower, or on which the Agent notifies the Borrower, as the case may be, that the Issuing Bank, such Bank or the Agent proposes to demand thereforsuch compensation and (ii) any time period during which, because of the unannounced retroactive application of such statute, regulation or other basis, the Agent, the Issuing Bank or such Bank, as the case may be, could not have known that such amount might arise or accrue.
Appears in 1 contract
Samples: Debt Service Reserve Letter of Credit and Reimbursement Agreement (Eme Homer City Generation Lp)
Capital Adequacy. If any Lender shall reasonably determine that have determined that, after the date hereof, the adoption of any applicable law, rule or taking effect ofregulation regarding capital adequacy, or any change inin any such law, any applicable Law regarding capital adequacy, in each instance, after the Closing Daterule or regulation, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender or any Person controlling such Lender with any request, guideline request or directive regarding capital adequacy or liquidity requirements (whether or not having the force of law) of any such Governmental Authorityauthority, central bank or comparable agency (including all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States regulatory authorities, in each case pursuant to Basel III, regardless of the date enacted, adopted or otherwise taking effect after the Closing Dateissued), has or would have the effect of reducing the rate of return on capital of such Lender (or any Person controlling such Lender’s or such controlling Person’s capital ) as a consequence of such Lender’s obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender (or any Person controlling such controlling Person Lender) could have achieved but for such adoption, taking effect, change, interpretation, administration, application request or compliance directive (taking into consideration such Lender’s or such controlling Person’s its policies with respect to capital adequacy) adequacy and liquidity requirements), then from time to time, upon within fifteen (15) days after demand by such Lender (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, with a copy of which shall be furnished to the Administrative Agent), Borrower the Borrowers shall promptly pay to such Lender such additional amount or amounts as will compensate such Lender (or any Person controlling such controlling Person Lender) for such reduction, so long as solely to the extent that any such additional amounts have accrued on or after were incurred by the day which is Lender within ninety (90) days prior of such demand except that, if the change giving rise to such increased costs or reductions is retroactive, then the date on which such Lender first made demand thereforninety (90) day period referred to above shall be extended to include the period of retroactive effect thereof.
Appears in 1 contract
Samples: Senior Bridge Term Loan Credit Agreement (PPL Corp)
Capital Adequacy. If after the date hereof, any Lender shall reasonably determine Bank or any parent company of a Bank (a "Parent Company") has determined that the adoption or taking effect ofeffectiveness of any applicable law, rule or regulation regarding capital adequacy, or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Datetherein, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authoritygovernmental authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender such Bank or any Person controlling such Lender Parent Company with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authorityauthority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on such Lender’s Bank's or such controlling Person’s Parent Company's capital or assets as a consequence of such Lender’s its commitments or obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender Bank or such controlling Person Parent Company could have achieved but for such adoption, taking effecteffectiveness, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s Bank's or such controlling Person’s Parent Company's policies with respect to capital adequacy) ), then from time to time, upon within 15 days after demand by such Lender (which demand shall be accompanied by a statement setting forth Bank, the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender Bank such additional amount or amounts as will compensate such Lender or such controlling Person Bank for such reduction. Upon determining in good faith that any additional amounts will be payable pursuant to this Section, so long as such amounts have accrued on or after the day which is ninety (90) days prior Bank will give prompt written notice thereof to the date Borrower, which notice shall set forth the basis of the calculation of such additional amounts, although the failure to give any such notice shall not release or diminish any of the Borrower's obligations to pay additional amounts pursuant to this Section. Determination by any such Bank of amounts owing under this Section shall, absent manifest error, be final and conclusive and binding on which the parties hereto; provided, however, that such Lender first determinations are made on a reasonable basis. Failure on the part of any Bank to demand thereforcompensation for any period hereunder shall not constitute a waiver of such Bank's rights to demand any such compensation in such period or in any other period.
Appears in 1 contract
Samples: Credit Agreement (Tultex Corp)
Capital Adequacy. If after the date hereof, any Lender or any Affiliate of such Lender shall have reasonably determine determined that the adoption of any applicable law, governmental rule, regulation or taking effect oforder regarding the capital adequacy of banks or bank holding companies, or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Datetherein, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authoritygovernmental authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender or any Person controlling Affiliate of such Lender with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authoritygovernmental authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on such Lender’s 's or any Affiliate's of such controlling Person’s Lender capital as a consequence of such the Lender’s 's Commitment or obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender or such controlling Person it could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s 's or any Affiliate's of such controlling Person’s Lender policies with respect to capital adequacy) then from time adequacy immediately before such adoption, change or compliance and assuming that such Lender's or any Affiliate's of such Lender, capital was fully utilized prior to timesuch adoption, change or compliance), then, upon demand by such Lender, the Borrowers shall immediately pay to the Lender (which demand such additional amounts as shall be accompanied by a statement sufficient to compensate such Lender for any such reduction actually suffered. A certificate of such Lender setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall to be furnished to Administrative Agent), Borrower shall promptly pay paid to such Lender such additional amount by the Borrowers as will compensate such Lender or such controlling Person for such reductiona result of any event referred to in this paragraph shall, so long as such amounts have accrued on or after the day which is ninety (90) days prior to the date on which such Lender first made demand thereforabsent manifest error, be conclusive.
Appears in 1 contract
Capital Adequacy. If after the date hereof any Lender shall reasonably determine Bank or the Agent determines that (a) the adoption of or taking effect ofchange in any law, governmental rule, regulation, policy, guideline or directive (whether or not having the force of law) regarding capital requirements for banks or bank holding companies or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Date, or any change after the Closing Date in the interpretation, administration interpretation or application thereof by any Governmental Authority, central bank a court or comparable agency charged governmental authority with the interpretation, administration or application thereofappropriate jurisdiction, or the (b) compliance by any Lender such Bank or the Agent or any Person corporation controlling such Lender Bank or the Agent with any requestlaw, governmental rule, regulation, policy, guideline or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateentity regarding capital adequacy, has or would have the effect of reducing the rate of return on such Lender’s Bank's or such controlling Person’s capital as a consequence of such Lender’s obligations hereunder or under the Agent's commitment with respect to any Support Agreement or Lender Letter of Revolving Credit Loans to a level below that which such Lender Bank or such controlling Person the Agent could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s Bank's or such controlling Person’s the Agent's then existing policies with respect to capital adequacyadequacy and assuming full utilization of such entity's capital) then from time to time, upon demand by any amount deemed by such Lender Bank or (which demand as the case may be) the Agent to be material, then such Bank or the Agent may notify the Company of such fact. To the extent that the amount of such reduction in the return on capital is not reflected in the Base Rate, the Company and such Bank shall be accompanied by a statement setting forth the basis for such demand and a calculation thereafter attempt to negotiate in good faith, within thirty (30) days of the amount thereof day on which the Company receives such notice, an adjustment payable hereunder that will adequately compensate such Bank in reasonable detail, a copy light of which shall be furnished these circumstances. If the Company and such Bank are unable to Administrative Agent), Borrower shall promptly pay agree to such Lender such additional amount as will compensate such Lender or such controlling Person for such reduction, so long as such amounts have accrued on or after the day which is ninety adjustment within thirty (9030) days prior to of the date on which the Company receives such Lender first made demand therefornotice, then commencing on the date of such notice (but not earlier than the effective date of any such increased capital requirement), the fees payable hereunder shall increase by an amount that will, in such Bank's reasonable determination, provide adequate compensation. Each Bank shall allocate such cost increases among its customers in good faith and on an equitable basis.
Appears in 1 contract
Capital Adequacy. If any Lender or Issuing Bank (or any Affiliate of the foregoing) shall have reasonably determine determined that the adoption of any applicable law, governmental rule, regulation or taking effect oforder after the Agreement Date regarding the capital adequacy of banks or bank holding companies, or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Datetherein, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authoritygovernmental authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any such Lender or Issuing Bank (or any Person controlling such Lender Affiliate of the foregoing) with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authoritygovernmental authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on such Lender’s 's or such controlling Person’s Issuing Bank's (or any Affiliate of the foregoing) capital as a consequence of such Lender’s obligations hereunder 's or under any Support Agreement Issuing Bank's Revolving Loan Commitments or Lender Letter of Credit Commitment, as applicable, or obligations hereunder to a level below that which such Lender or such controlling Person it could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s 's or such controlling Person’s Issuing Bank's (or any Affiliate of the foregoing) policies with respect to capital adequacyadequacy immediately before such adoption, change or compliance and assuming that such Lender's or Issuing Bank's (or any Affiliate of the foregoing) then from time capital was fully utilized prior to timesuch adoption, upon change or compliance), then, within thirty (30) days of demand by such Lender (which demand shall be accompanied by a statement setting forth or Issuing Bank, the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly immediately pay to such Lender or Issuing Bank such additional amount amounts as will shall be sufficient to compensate such Lender or Issuing Bank for any such controlling Person for such reductionreduction actually suffered; provided, so long as such however, that there shall be no duplication of amounts have accrued on or after the day which is ninety (90) days prior paid to the date on which a Lender pursuant to this sentence and Section 12.3. A certificate of such Lender first made demand thereforor Issuing Bank setting forth the amount to be paid to such Lender or Issuing Bank by the Borrower as a result of any event referred to in this paragraph shall, absent manifest error, be conclusive.
Appears in 1 contract
Capital Adequacy. If any Lender or any Issuing Bank shall reasonably determine have determined that the adoption after the date hereof of any other law, rule, regulation or taking effect ofguideline regarding capital adequacy, or any change in, in any applicable Law regarding capital adequacy, in each instance, after of the Closing Date, foregoing or any change after the Closing Date in the interpretation, interpretation or administration or application thereof of any of the foregoing by any Governmental Authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender (or any Person controlling lending office of such Lender Lender) or any Issuing Bank or any Lender's or any Issuing Bank's holding company with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authorityauthority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on such Lender’s 's or Issuing Bank's capital or on the capital of such controlling Person’s capital Lender's or Issuing Bank's holding company, if any, as a consequence of this Agreement, such Lender’s obligations hereunder 's Commitment, the Loans made by such Lender pursuant hereto, or under any Support Agreement or Lender Letter of Credit or participation interest therein to a level below that which such Lender or Issuing Bank or such controlling Person Lender's or Issuing Bank's holding company could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s 's or Issuing Bank's policies and the policies of such controlling Person’s policies Lender's or Issuing Bank's holding company with respect to capital adequacy) by an amount deemed by such Lender or Issuing Bank to be material, then from time to time, upon demand by such Lender (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender time such additional amount or amounts as will compensate such Lender or Issuing Bank for any such controlling Person for such reduction, so long as such amounts have accrued on or after reduction suffered will be paid by the day which is ninety (90) days prior Borrower to the date on which such Lender first made demand thereforor Issuing Bank, as applicable.
Appears in 1 contract
Samples: Revolving Credit Facility Agreement (Lennox International Inc)
Capital Adequacy. If any Lender Bank shall reasonably determine that have determined that
(i) the adoption after the date of this Agreement or taking effect of, or any change in, the effectiveness after the date of this Agreement (regardless of whether previously announced) of any applicable Law Legal Requirement or treaty regarding capital adequacy, in each instance, after the Closing Date, or or
(ii) any change after the Closing Date date of this Agreement in any existing or future Legal Requirement or treaty regarding capital adequacy, or
(iii) any change after the date of this Agreement in the interpretation, interpretation or administration of any existing or application thereof future Legal Requirement or treaty regarding capital adequacy by any Governmental Authority, central bank Authority or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the or
(iv) compliance by any Lender Bank (or any Person controlling such Lender its Lending Office) with any request, guideline request or directive after the date of this Agreement regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank Authority or comparable agency adopted or otherwise taking effect after the Closing Date, has or would have the effect of reducing the rate of return on the capital of such Lender’s Bank (or any holding company of which such controlling Person’s capital Bank is a part) as a consequence of such Lender’s its obligations hereunder or under any Support this Agreement or Lender Letter of and the other Credit Documents to a level below that which such Lender Bank or such controlling Person holding company could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance by an amount deemed by such Bank or holding company to be material, then, from time to time, on demand by such Bank (taking with a copy to the Agent), the Borrowers shall pay to such Bank such additional amount or amounts as will compensate such Bank or holding company for such reduction. The certificate of any Bank setting forth such amount or amounts as shall be necessary to compensate it and the basis therefor shall cover amounts accruing under this Section 5.11 shall be conclusive and binding, absent manifest error. The Company shall pay the amount shown as due on any such certificate upon delivery of such certificate. In preparing such certificate, a Bank may take into consideration such Lender’s or Bank's and such controlling Person’s holding company's policies with respect to capital adequacy) then from time to time, upon demand by employ such Lender (which demand assumptions and allocations of costs and expenses as it shall be accompanied by a statement setting forth the basis for such demand in good xxxxx xxxx reasonable, and a calculation of the amount thereof in use any reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender such additional amount as will compensate such Lender or such controlling Person for such reduction, so long as such amounts have accrued on or after the day which is ninety (90) days prior to the date on which such Lender first made demand thereforaveraging and attribution method.
Appears in 1 contract
Capital Adequacy. If any Lender Bank or any Fronting Bank shall reasonably determine that have determined that, after the date hereof, due to any Change in Law or the adoption or taking effect of, or any change in, any applicable Law law, rule or regulation regarding capital adequacy, in each instance, after the Closing Dateadequacy or liquidity ratios or requirements, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender or any Person controlling such Lender with any request, guideline request or directive regarding capital adequacy or liquidity requirements (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on capital of such LenderBank or such Fronting Bank (or such Bank’s or such controlling PersonFronting Bank’s capital Parent) as a consequence of this Agreement, the Loan Commitments of such LenderBank or the Loans made, or participations in Letters of Credit held, by such Bank, or the Letters of Credit issued by such Fronting Bank, or such Bank’s or Fronting Bank’s obligations hereunder or under any Support Agreement or Lender Letter of Credit hereunder, to a level below that which such Lender Bank or Fronting Bank (or such controlling Person Bank’s or Fronting Bank’s Parent) could have achieved but for such Change in Law or adoption, taking effect, change, interpretation, administration, application request or compliance directive (taking into consideration such Lender’s or such controlling Person’s its policies with respect to capital adequacyadequacy and liquidity) by an amount deemed by such Bank to be material, then from time to time, upon within fifteen (15) days after demand by such Lender Bank or Fronting Bank (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, with a copy of which shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender Bank or Fronting Bank, as the case may be, such additional amount or amounts as will compensate such Lender Bank or such controlling Person Fronting Bank (or such Bank’s or such Fronting Bank’s Parent) for any such reductionreduction suffered. A certificate of any Bank or Fronting Bank claiming compensation under this Section, so long setting forth in reasonable detail the basis therefor and the amount or amounts necessary to compensate such Bank or Fronting Bank (or such Bank’s or Fronting Bank’s Parent), as such the case may be, shall be conclusive absent manifest error. The obligations of Borrower under this Section shall survive the repayment of all amounts have accrued on due under or after in connection with any of the day which is ninety (90) days Loan Documents and the termination of the Loan Commitments in respect of the period prior to the date on which such Lender first made demand therefortermination.
Appears in 1 contract
Capital Adequacy. If any Lender shall reasonably determine that after the adoption or taking effect date hereof, either (i) the introduction of, or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Date, or any change after the Closing Date in the interpretation or enforcement of, any law, regulation, order, ruling, interpretation, administration directive, guideline or application thereof by request or (ii) the compliance with any Governmental Authorityorder, ruling, interpretation, directive, guideline or request from any central bank or comparable agency charged with the interpretation, administration or application thereof, or the compliance by any Lender or any Person controlling such Lender with any request, guideline or directive regarding capital adequacy other governmental authority (whether or not having the force of law) of any such Governmental Authorityissued, central bank announced, published, promulgated or comparable agency adopted or otherwise taking effect made after the Closing Datedate hereof (including, has or would have the effect of reducing the rate of return on such Lender’s or such controlling Person’s capital as a consequence of such Lender’s obligations hereunder or under in any Support Agreement or Lender Letter of Credit to a level below that which such Lender or such controlling Person could have achieved but for such adoptionevent, taking effectany law, changeregulation, order, ruling, interpretation, administrationdirective, application guideline or compliance (taking into consideration request contemplated by the report dated July, 1988 entitled "International Convergence of Capital Measurement and Capital Standards" issued by the Basle Committee on Banking Regulation and Supervisory Practices) affects or would affect the amount of capital required or expected to be maintained by any Bank or any corporation controlling any Bank and such Lender’s Bank reasonably determines that the amount of such required or expected capital is increased by or based upon the existence of such Bank's Revolving Loans hereunder or such controlling Person’s policies with respect Bank's commitment to capital adequacy) then from time to timelend hereunder, then, upon demand by such Lender (which demand Bank, the Borrower shall be accompanied by a statement setting forth the basis for such demand liable for, and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender Bank, within thirty (30) days following demand from time to time by such Bank, additional amount as will amounts sufficient to compensate such Lender Bank in the light of such circumstances for the effects of such law, regulation, order, ruling, interpretation, directive, guideline or request, to the extent that such controlling Person for Bank reasonably determines such reduction, so long as increase in capital to be allocable to the existence of such Bank's Revolving Loans hereunder or of such Bank's commitment to lend hereunder. A certificate substantiating such amounts have accrued on or and identifying the event giving rise thereto, submitted to the Borrower (with a copy to the Agent) by such Bank, shall be conclusive, absent manifest error. Each Bank shall promptly notify the Borrower of any event of which it has knowledge occurring after the day date of this Agreement which is ninety will entitle such Bank to compensation pursuant to this Section, and such Bank shall take any reasonable action available to it consistent with its internal policy and legal and regulatory restrictions (90including the designation of a different Lending Office, if any) days prior that will avoid the need for, or reduce the amount of, such compensation and will not in the reasonable judgment of such Bank be otherwise disadvantageous to the date on which such Lender first made demand thereforBank.
Appears in 1 contract
Samples: Credit Agreement (Donegal Group Inc)
Capital Adequacy. If after the Agreement Date, any Lender or Issuing Bank (or any Affiliate of the foregoing) shall have reasonably determine determined that the adoption of any Applicable Law, governmental rule, regulation or taking effect oforder regarding the capital adequacy of banks or bank holding companies, or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Datetherein, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any such Lender or Issuing Bank (or any Person controlling such Lender Affiliate of the foregoing) with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency adopted (but only if such adoption, change, request or otherwise taking effect directive occurs after the Closing Agreement Date), has or would have the effect of reducing the rate of return on such Lender’s or such controlling PersonIssuing Bank’s (or any Affiliate of the foregoing) capital as a consequence of such Lender’s or Issuing Bank’s portion of the Commitments or obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender or such controlling Person it could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s or such controlling PersonIssuing Bank’s (or any Affiliate of the foregoing) policies with respect to capital adequacyadequacy immediately before such adoption, change or compliance and assuming that such Lender’s or Issuing Bank’s (or any Affiliate of the foregoing) then from time capital was fully utilized prior to timesuch adoption, change or compliance), then, promptly upon demand by such Lender (which demand or Issuing Bank, the Borrowers shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly immediately pay to such Lender or Issuing Bank such additional amount Additional Amounts as will shall be sufficient to compensate such Lender or Issuing Bank for any such controlling Person for such reductionreduction actually suffered; provided, so long as such however, that there shall be no duplication of amounts have accrued on or after the day which is ninety (90) days prior paid to the date on which a Lender pursuant to this sentence and Section 12.3. A certificate of such Lender first made demand thereforor Issuing Bank setting forth the amount to be paid to such Lender or Issuing Bank by the Borrowers as a result of any event referred to in this paragraph shall, absent manifest error, be conclusive.
Appears in 1 contract
Samples: Credit Agreement (New York Times Co)
Capital Adequacy. If after the Agreement Date, any Lender or Issuing Bank (or any Affiliate of the foregoing) shall have reasonably determine determined that the adoption of any Applicable Law, governmental rule, regulation or taking effect oforder regarding the capital adequacy of banks or bank holding companies, or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Datetherein, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any such Lender or Issuing Bank (or any Person controlling such Lender Affiliate of the foregoing) with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency adopted (but only if such adoption, change, request or otherwise taking effect directive occurs after the Closing Agreement Date), has or would have the effect of reducing the rate of return on such Lender’s or such controlling PersonIssuing Bank’s (or any Affiliate of the foregoing) capital as a consequence of such Lender’s or Issuing Bank’s portion of the Revolving Loan Commitment or obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender or such controlling Person it could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s or such controlling PersonIssuing Bank’s (or any Affiliate of the foregoing) policies with respect to capital adequacyadequacy immediately before such adoption, change or compliance and assuming that such Lender’s or Issuing Bank’s (or any Affiliate of the foregoing) then from time capital was fully utilized prior to timesuch adoption, change or compliance), then, promptly upon demand by such Lender (which demand or Issuing Bank, the Borrowers shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly immediately pay to such Lender or Issuing Bank such additional amount amounts as will shall be sufficient to compensate such Lender or Issuing Bank for any such controlling Person reduction actually suffered; provided, however, that there shall be no duplication of amounts paid to a Lender pursuant to this sentence and Section 12.3. A certificate of such Lender or Issuing Bank setting forth the amount to be paid to such Lender or Issuing Bank by the Borrowers as a result of any event referred to in this paragraph shall, absent manifest error, be conclusive. Such Lender or the Issuing Bank will designate a different lending office if such designation will avoid the need for, or reduce the amount of, such compensation and will not, in the sole judgment of such Lender or the Issuing Bank, be otherwise disadvantageous to such Lender or the Issuing Bank. Failure or delay on the part of any Lender or the Issuing Bank to demand compensation pursuant to this Section 12.5 shall not constitute a waiver of such Lender’s or the Issuing Bank’s right to demand such compensation; provided that the Borrowers shall not be required to compensate a Lender or the Issuing Bank pursuant to this Section 12.5 for such reduction, so long as such amounts have accrued on or after the day which is ninety (90) any reductions in rate of return incurred more than 270 days prior to the date on which that such Lender first made demand thereforor the Issuing Bank notifies the Borrowers of the change in Applicable Law or other occurrence giving rise to such reductions and of such Lender’s or the Issuing Bank’s intention to claim compensation therefore.
Appears in 1 contract
Capital Adequacy. If any Lender Bank shall reasonably determine that have determined that
(a) the adoption after the date of this Agreement or taking effect of, or any change in, the effectiveness after the date of this Agreement (regardless of whether previously announced) of any applicable Law Legal Requirement or treaty regarding capital adequacy, in each instance, after the Closing Date, or or
(b) any change after the Closing Date date of this Agreement in any existing or future Legal Requirement or treaty regarding capital adequacy, or
(c) any change after the date of this Agreement in the interpretation, interpretation or administration of any existing or application thereof future Legal Requirement or treaty regarding capital adequacy by any Governmental Authority, central bank Authority or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the or
(d) compliance by any Lender Bank (or any Person controlling such Lender its Applicable Lending Office) with any request, guideline request or directive after the date of this Agreement regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank Authority or comparable agency adopted or otherwise taking effect after the Closing Date, has or would have the effect of reducing the rate of return on the capital of such Lender’s Bank (or any holding company of which such controlling Person’s capital Bank is a part) as a consequence of such Lender’s its obligations hereunder or under any Support this Agreement or Lender Letter of and the other Credit Documents to a level below that which such Lender Bank or such controlling Person holding company could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration by an amount deemed by such Lender’s Bank or such controlling Person’s policies with respect holding company to capital adequacy) then be material, then, from time to time, upon on demand by such Lender Bank (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, with a copy of which shall be furnished to Administrative the Agent), Borrower the Company (subject to SECTION 12.8) shall promptly pay to such Lender Bank such additional amount or amounts as will compensate such Lender Bank or such controlling Person holding company for such reduction, so long . The certificate of any Bank setting forth such amount or amounts as such shall be necessary to compensate it and the basis therefor shall cover amounts have accrued on or after the day which is ninety (90) accruing under this SECTION 6.7 with respect to a period beginning not earlier than 120 days prior to from the date thereof and shall be conclusive and binding, absent manifest error. The Company shall pay the amount shown as due on which any such Lender first made demand therefor.certificate upon delivery of such
Appears in 1 contract
Capital Adequacy. If any Lender shall reasonably determine Bank or the Issuing Bank determines in good faith that the adoption compliance with any generally applicable law or taking effect of, regulation or any change in, guideline or request from any applicable Law regarding capital adequacy, in each instance, after the Closing Date, or any change after the Closing Date in the interpretation, administration or application thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation, administration or application thereof, or the compliance by any Lender or any Person controlling such Lender with any request, guideline or directive regarding capital adequacy other Governmental Authority (whether or not having the force of law) of any such Governmental Authority, central bank implemented or comparable agency adopted or otherwise taking effect effective after the Closing Date, has date of this Agreement increases or would have increase the effect amount of reducing capital required or expected to be maintained by such Bank or the rate of return on Issuing Bank or any corporation controlling such Lender’s Bank or such controlling Person’s capital as a consequence the Issuing Bank and that the amount of such Lender’s obligations capital is increased by or based upon the existence of such Bank's or the Issuing Bank's commitment to lend hereunder or under any Support Agreement or Lender Letter and other commitments of Credit to a level below that which such Lender or such controlling Person could have achieved but for such adoptionthis type, taking effect, change, interpretation, administration, application or compliance (taking into consideration such Lender’s or such controlling Person’s policies with respect to capital adequacy) then from time to timethen, upon demand by such Lender Bank or the Issuing Bank, the Borrower shall, within 10 days of demand by the Agent, pay to the Agent for the account of such Bank or the Issuing Bank, as applicable, from time to time as specified by such Bank or the Issuing Bank in a notice to the Borrower and the Agent, additional amounts (which demand without duplication of any other amounts payable in respect of increased costs) sufficient to compensate such Bank or the Issuing Bank in light of such circumstances, to the extent that such Bank or the Issuing Bank reasonably determines such increase in capital to be allocable to the existence of such Bank's or the Issuing Bank's commitment to lend hereunder. A certificate shall be accompanied submitted to the Borrower by a statement setting forth such Bank or the basis for Issuing Bank (a) indicating the amount of such demand capital adequacy costs and a detailing the calculation of such costs, (b) stating that such Bank or the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender such additional amount as will compensate such Lender or such controlling Person for such reduction, so long as Issuing Bank is generally charging such amounts have accrued on or after to other customers similarly situated with the day which is ninety Borrower, and (90c) that all such costs are being charged within 90 days prior to of the date on which such Lender first made demand thereforBank or the Issuing Bank learned of such costs, such certificate to be conclusive and binding for all purposes, absent manifest error.
Appears in 1 contract
Samples: Credit Agreement (Valhi Inc /De/)
Capital Adequacy. If any Lender Bank shall reasonably determine that have determined that
(a) the adoption after the date of this Agreement or taking effect of, or any change in, the effectiveness after the date of this Agreement (regardless of whether previously announced) of any applicable Law Legal Requirement or treaty regarding capital adequacy, in each instance, after the Closing Date, or or
(b) any change after the Closing Date date of this Agreement in any existing or future Legal Requirement or treaty regarding capital adequacy, or
(c) any change after the date of this Agreement in the interpretation, interpretation or administration of any existing or application thereof future Legal Requirement or treaty regarding capital adequacy by any Governmental Authority, central bank Authority or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the or
(d) compliance by any Lender Bank (or any Person controlling such Lender its Applicable Lending Office) with any request, guideline request or directive after the date of this Agreement regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank Authority or comparable agency adopted or otherwise taking effect after the Closing Date, has or would have the effect of reducing the rate of return on the capital of such Lender’s Bank (or any holding company of which such controlling Person’s capital Bank is a part) as a consequence of such Lender’s its obligations hereunder or under any Support this Agreement or Lender Letter of and the other Credit Documents to a level below that which such Lender Bank or such controlling Person holding company could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance by an amount deemed by such Bank or holding company to be material, then, from time to time, on demand by such Bank (taking with a copy to the Agent), the Company (subject to Section 12.8) shall pay to such Bank such additional amount or amounts as will compensate such Bank or holding company for such reduction. The certificate of any Bank setting forth such amount or amounts as shall be necessary to compensate it and the basis therefor shall cover amounts accruing under this Section 6.7 with respect to a period beginning not earlier than 120 days from the date thereof and shall be conclusive and binding, absent manifest error. The Company shall pay the amount shown as due on any such certificate upon delivery of such certificate. In preparing such certificate, a Bank may take into consideration such Lender’s or Bank's and such controlling Person’s holding company's policies with respect to capital adequacy) then from time to time, upon demand by employ such Lender (which demand shall be accompanied by a statement setting forth the basis for such demand assumptions and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender such additional amount as will compensate such Lender or such controlling Person for such reduction, so long as such amounts have accrued on or after the day which is ninety (90) days prior to the date on which such Lender first made demand therefor.allocations of
Appears in 1 contract
Capital Adequacy. If Except as otherwise reflected in the interest rate applicable under this Agreement, if any Lender Bank or the Issuing Bank shall reasonably determine that have determined that, after the date hereof, the adoption of any applicable law, rule or taking effect ofregulation regarding capital adequacy, or any change inin any such law, any applicable Law regarding capital adequacyrule, in each instance, after the Closing Dateor regulation, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authoritygovernmental authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender or any Person controlling such Lender with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authorityauthority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on capital of such Lender’s Bank or the Issuing Bank (or any corporation controlling such controlling Person’s capital Bank or the Issuing Bank) as a consequence of such Lender’s Bank's or the Issuing Bank's obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender Bank or the Issuing Bank (or any corporation controlling such controlling Person Bank or the Issuing Bank) could have achieved but for such adoption, taking effect, change, interpretation, administration, application request or compliance directive (taking into consideration such Lender’s or such controlling Person’s its policies with respect to capital adequacy) by an amount deemed by such Bank or the Issuing Bank to be material, then from time to time, upon within fifteen (15) days after demand by such Lender (which demand shall be accompanied by a statement setting forth Bank or the basis for such demand and a calculation of Issuing Bank, the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), applicable Borrower shall promptly pay to such Lender Bank or the Issuing Bank such additional amount or amounts as will will, in such Bank's or the Issuing Bank's reasonable determination, fairly compensate such Lender Bank or the Issuing Bank (or any corporation controlling such controlling Person Bank or the Issuing Bank) for such reduction, so long as . A Borrower shall only be obligated to pay a Bank or the Issuing Bank such amounts have accrued on or after the day which is ninety (90) days prior cost increases to the date extent such Bank or the Issuing Bank has allocated such costs among its customers in good faith and on which such Lender first made demand thereforan equitable and nondiscriminatory basis.
Appears in 1 contract
Samples: Global Revolving Credit Agreement (Ryder System Inc)
Capital Adequacy. If any Lender shall Bank shall, at any time, reasonably determine that (a) the adoption (i) after the date of this Agreement, of any capital adequacy guidelines or taking effect of(ii) at any time, of any other applicable law, government rule, regulation or order regarding capital adequacy of banks or bank holding companies, (b) any change in, in (i) any applicable Law regarding capital adequacy, in each instance, after of the Closing Date, foregoing or (ii) the interpretation or administration of any change after of the Closing Date in the interpretation, administration or application thereof foregoing by any Governmental Authority, central bank or comparable agency charged with the interpretation, administration or application thereof, or the (c) compliance by any Lender or any Person controlling such Lender with any requestpolicy, guideline guideline, directive or directive request regarding capital adequacy (whether or not having the force of lawlaw and whether or not failure to comply therewith would be unlawful) of any such Governmental Authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on such Lender’s or such controlling Person’s the capital as a consequence of such Lender’s obligations hereunder or under any Support Agreement or Lender Letter of Credit Bank to a level below that which such Lender or such controlling Person Bank could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration the policies of such Lender’s or such controlling Person’s policies Bank with respect to capital adequacyadequacy in effect immediately before such adoption, change or compliance) and (x) such reduction is as a consequence of the Commitment of, or the making of any Loans by, such Bank hereunder and (y) such reduction is reasonably deemed by such Bank to be material, then (1) such Bank shall deliver to the Borrower and the Agent a notice stating the reduction in the rate of return such Bank will in the future suffer as a result of its Commitment or the making of any Loans by it to the Borrower hereunder and (2) the Borrower shall, promptly upon receipt of such notice pay to the Agent for the account of such Bank from time to time, upon demand time as specified by such Lender (which demand Bank such amount as shall be accompanied by a statement setting forth the basis sufficient to compensate such Bank for such demand and a calculation reduced return. The amount stated in any notice delivered to the Borrower pursuant to the provisions of the amount thereof in reasonable detail, a copy of which this Section 5.8 shall be furnished conclusive and binding for all purposes, absent manifest error. In determining any such amount, such Bank may use reasonable averaging and attribution methods. The payments required under this Section 5.8 are in addition to Administrative Agent), Borrower shall promptly pay to such Lender such additional amount as will compensate such Lender or such controlling Person for such reduction, so long as such amounts have accrued on or after the day which is ninety (90) days prior to the date on which such Lender first made demand thereforany other payments and indemnities required hereunder.
Appears in 1 contract
Samples: Credit Agreement (Alpharma Inc)
Capital Adequacy. If the Agent, any Lender Bank or the Letter of Credit Issuer shall have reasonably determine that determined that, subsequent to the date hereof, any change in the applicability of any law, rule, regulation or guideline, or the adoption after the date hereof of any other law, rule, regulation or taking effect ofguideline regarding capital adequacy, or any change in, in any applicable Law regarding capital adequacy, in each instance, after of the Closing Date, foregoing or any change after the Closing Date in the interpretation, interpretation or administration or application thereof of any of the foregoing by any Governmental Authoritygovernmental authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender such Bank or the Letter of Credit Issuer (or any Person controlling lending office of such Lender Bank or the Letter of Credit Issuer) or such Bank's or the Letter of Credit Issuer's holding company with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authorityauthority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on such Lender’s Bank's or the Letter of Credit Issuer's capital or on the capital of such controlling Person’s capital Bank's or the Letter of Credit Issuer's holding company, if any, as a consequence of such Lender’s its obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender Bank or the Letter of Credit Issuer or such controlling Person Bank's or the Letter of Credit Issuer's holding company could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s Bank's or the Letter of Credit Issuer's policies and the policies of such controlling Person’s policies Bank's or the Letter of Credit Issuer's holding company with respect to capital adequacy) by an amount deemed by such Bank or the Letter of Credit Issuer to be material, then from time to time, upon demand by such Lender (which demand time the Borrowers shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly pay to the Agent on behalf of such Lender Bank or the Letter of Credit Issuer such additional amount or amounts as will reasonably compensate such Lender Bank or the Letter of Credit Issuer or its or their holding company or companies for any such controlling Person for such reduction, so long as such amounts have accrued on or after the day which is ninety (90) days prior to the date on which such Lender first made demand thereforreduction suffered.
Appears in 1 contract
Capital Adequacy. If any Lender Bank or Issuing Bank or any Affiliate of any Bank shall have reasonably determine determined that the adoption after the Agreement Date of any Applicable Law, governmental rule, regulation or taking effect oforder regarding the capital adequacy of banks or bank holding companies, or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Datetherein, or any change after the Closing Agreement Date in the interpretation, interpretation or administration or application thereof by any Governmental Authoritygovernmental authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender such Bank or Issuing Bank or any Person controlling such Lender Affiliate of any Bank with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authoritygovernmental authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on such Lender’s Bank's or Issuing Bank's or any Affiliate of such controlling Person’s Bank capital as a consequence of such Lender’s Bank's or Issuing Bank's Commitment or obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender or such controlling Person it could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s Bank's or Issuing Bank's or any Affiliate of such controlling Person’s Bank's policies with respect to capital adequacyadequacy immediately before such adoption, change or compliance and assuming that such Bank's or Issuing Bank's or any Affiliate's of such Bank, capital was fully utilized prior to such adoption, change or compliance), 102 then, by the earlier of (x) then from time to time, upon 15 days after demand by such Lender Bank or Issuing Bank, or (which demand y) the Maturity Date, the Co-Borrowers shall immediately pay to such Bank or Issuing Bank such additional amounts as shall be accompanied by sufficient to compensate such Bank or Issuing Bank for any such reduction actually suffered; provided, however, that there shall be no duplication of amounts paid to a statement Bank pursuant to this sentence and SECTION 11.3 hereof. A certificate of such Bank or Issuing Bank setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall to be furnished to Administrative Agent), Borrower shall promptly pay paid to such Lender such additional amount Bank or Issuing Bank by the Co-Borrowers as will compensate such Lender or such controlling Person for such reductiona result of any event referred to in this paragraph shall, so long as such amounts have accrued on or after the day which is ninety (90) days prior to the date on which such Lender first made demand thereforabsent manifest error, be conclusive.
Appears in 1 contract
Capital Adequacy. If after the date hereof, the ---------------- adoption of any Lender shall reasonably determine that Applicable Law regarding the adoption capital adequacy of banks or taking effect ofbank holding companies, or any change in, any applicable in Applicable Law regarding capital adequacy, in each instance, (whether adopted before or after the Closing Agreement Date, ) or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authoritygovernmental authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender or any Person controlling such Lender Bank with any request, guideline or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authoritygovernmental authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on such Lender’s or such controlling Person’s any Bank's capital as a consequence of such Lender’s its obligations hereunder or under any Support Agreement or Lender Letter of Credit with respect to the Loans and the Commitment to a level below that which such Lender or such controlling Person it could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s or such controlling Person’s Bank's policies with respect to capital adequacyadequacy immediately before such adoption, change or compliance and assuming that such Bank's capital was fully utilized prior to such adoption, change or compliance) then from time by an amount reasonably deemed by such Bank to timebe material, then, upon demand by such Lender (which demand shall be accompanied by a statement setting forth Bank, the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender Bank such additional amount amounts as will shall be sufficient to compensate such Lender or such controlling Person Bank for such reductionreduced return, so long as together with interest on such amounts have accrued on or amount from the fifteenth (15th) day after the day which is ninety date of demand or the Maturity Date, as applicable, until payment in full thereof at the Default Rate. Any Bank claiming compensation under this Section 2.12 shall notify the Borrower of any event occurring after the date of this Agreement entitling such Bank to such compensation as promptly as practicable, but in any event within forty-five (9045) days, after such Bank obtains actual knowledge thereof; provided that if such Bank fails to give such notice within forty-five -------- (45) days after it obtains actual knowledge of such an event, such Bank shall, with respect to such compensation in respect of any costs resulting from such event, only be entitled to payment under this Section 2.12 for costs incurred from and after the date forty-five (45) days prior to the date on which that such Lender first made demand thereforBank does give such notice. A certificate of such Bank setting forth the amount to be paid to such Bank by the Borrower as a result of any event referred to in this paragraph and supporting calculations in reasonable detail shall be presumptively correct absent manifest error.
Appears in 1 contract
Capital Adequacy. If any Lender shall reasonably determine after the date hereof the Bank determines that (a) the adoption of or taking effect ofchange in any law, governmental rule, regulation, policy, guideline or directive (whether or not having the force of law) regarding capital requirements for banks or bank holding companies or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Date, or any change after the Closing Date in the interpretation, administration interpretation or application thereof by any Governmental Authority, central bank a court or comparable agency charged governmental authority with the interpretation, administration or application thereofappropriate jurisdiction, or the (b) compliance by any Lender the Bank or any Person corporation controlling such Lender the Bank with any requestlaw, governmental rule, regulation, policy, guideline or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateentity regarding capital adequacy, has or would have the effect of reducing the rate of return on such Lender’s or such controlling Person’s capital as a consequence of such Lender’s obligations hereunder or under the Bank's commitment with respect to any Support Agreement or Lender Letter of Credit Loans to a level below that which such Lender or such controlling Person the Bank could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s or such controlling Person’s the Bank's then existing policies with respect to capital adequacyadequacy and assuming full utilization of such entity's capital) by any amount deemed by the Bank to be material, then from time the Bank shall notify the Borrower of such fact. To the extent that the amount of such reduction in the return on capital is not reflected in the Base Rate, the Borrower and the Bank shall thereafter attempt to timenegotiate in good faith, upon demand by such Lender within thirty (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation 30) days of the amount thereof day on which the Borrower receives such notice, an adjustment payable hereunder that will adequately compensate the Bank in reasonable detail, a copy light of which shall be furnished these circumstances. If the Borrower and the Bank are unable to Administrative Agent), Borrower shall promptly pay agree to such Lender such additional amount as will compensate such Lender or such controlling Person for such reduction, so long as such amounts have accrued on or after the day which is ninety adjustment within thirty (9030) days prior to of the date on which the Borrower receives such Lender first made demand therefornotice, then commencing on the date of such notice (but not earlier than the effective date of any such increased capital requirement), the fees payable hereunder shall increase by an amount that will, in the Bank's reasonable determination, provide adequate compensation. The Bank shall allocate such cost increases among its customers in good faith and on an equitable basis.
Appears in 1 contract
Samples: Revolving Credit Agreement (Transact Technologies Inc)
Capital Adequacy. If after the date hereof any Lender shall reasonably determine Bank, any Issuing Bank or the Agent determines that (a) the adoption of or taking effect ofchange in any law, governmental rule, regulation, policy, guideline or directive (whether or not having the force of law) regarding capital requirements for banks or bank holding companies or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Date, or any change after the Closing Date in the interpretation, administration interpretation or application thereof by any Governmental Authority, central bank a court or comparable agency charged governmental authority with the interpretation, administration or application thereofappropriate jurisdiction, or (b) compliance after the compliance date hereof by any Lender such Bank, such Issuing Bank or the Agent or any Person corporation controlling such Lender Bank, such Issuing Bank or the Agent with any requestlaw, governmental rule, regulation, policy, guideline or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateentity regarding capital adequacy, has or would have the effect of reducing the rate of return on such Lender’s Bank's commitment with respect to any Loans or such controlling Person’s capital as a consequence of such Lender’s obligations hereunder or under any Support Agreement or Lender Letter of Credit the Loans to a level below that which such Lender Bank or such controlling Person the Agent could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s Bank's, such Issuing Bank's or such controlling Person’s the Agent's then existing policies with respect to capital adequacyadequacy and assuming full utilization of such entity's capital) then from time to time, upon demand by any amount deemed by such Lender Bank, such Issuing Bank or (which demand as the case may be) the Agent to be material, then such Bank, such Issuing Bank or the Agent may notify the Borrower of such fact. To the extent that the amount of such reduction in the return on capital is not reflected in the Base Rate or Eurodollar Rate, or in amounts paid or payable by the Borrower pursuant to Section 6.7 or Section 6.10 hereof, the Borrower and such Bank, such Issuing Bank or (as the case may be) the Agent shall be accompanied by a statement setting forth the basis for such demand and a calculation thereafter attempt to negotiate in good faith, within thirty (30) days of the amount thereof day on which the Borrower receives such notice, an adjustment payable hereunder which will adequately compensate such Bank, such Issuing Bank or the Agent in reasonable detaillight of such circumstances. If the Borrower and such Bank, a copy of which shall be furnished such Issuing Bank or the Agent are unable to Administrative Agent), Borrower shall promptly pay agree to such Lender such additional amount as will compensate such Lender or such controlling Person for such reduction, so long as such amounts have accrued on or after the day which is ninety adjustment within thirty (9030) days prior to of the date on which the Borrower receives such Lender first made demand therefornotice, then commencing on the date of such notice (but not earlier than the effective date of any such increased capital requirement), the Borrower shall pay such Bank, such Issuing Bank or (as the case may be) the Agent an amount that will, in such Bank's, such Issuing Bank's or the Agent's reasonable determination, provide adequate compensation. Each Bank, Issuing Bank and the Agent shall allocate such cost increases among its customers in good faith and on an equitable basis.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Aviall Inc)
Capital Adequacy. If any Lender Bank or Issuing Bank or any Affiliate of any Bank shall have reasonably determine determined that the adoption after the Agreement Date of any Applicable Law, governmental rule, regulation or taking effect oforder regarding the capital adequacy of banks or bank holding companies, or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Datetherein, or any change after the Closing Agreement Date in the interpretation, interpretation or administration or application thereof by any Governmental Authoritygovernmental authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender such Bank or Issuing Bank or any Person controlling such Lender Affiliate of any Bank with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authoritygovernmental authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on such Lender’s Bank's or Issuing Bank's or any Affiliate of such controlling Person’s Bank capital as a consequence of such Lender’s Bank's or Issuing Bank's Commitment or obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender or such controlling Person it could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s Bank's or Issuing Bank's or any Affiliate of such controlling Person’s Bank's policies with respect to capital adequacyadequacy immediately before such adoption, change or compliance and assuming that such Bank's or Issuing Bank's or any Affiliate's of such Bank, capital was fully utilized prior to such adoption, change or compliance), then, by the earlier of (x) then from time to time, upon 15 days after demand by such Lender Bank or Issuing Bank, or (which demand y) the Maturity Date, the Co-Borrowers shall immediately pay to such Bank or Issuing Bank such additional amounts as shall be accompanied by sufficient to compensate such Bank or Issuing Bank for any such reduction actually suffered; provided, however, that there shall be no duplication of amounts paid to a statement Bank pursuant to this sentence and Section 11.3 hereof. A certificate of such Bank or Issuing Bank setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall to be furnished to Administrative Agent), Borrower shall promptly pay paid to such Lender such additional amount Bank or Issuing Bank by the Co-Borrowers as will compensate such Lender or such controlling Person for such reductiona result of any event referred to in this paragraph shall, so long as such amounts have accrued on or after the day which is ninety (90) days prior to the date on which such Lender first made demand thereforabsent manifest error, be conclusive.
Appears in 1 contract
Capital Adequacy. If To the extent not covered by Article III hereof, if any Lender Bank shall reasonably determine have determined, after the date hereof, that the adoption of any applicable law, rule, regulation or taking effect ofguideline regarding capital adequacy, or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Datetherein, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authoritygovernmental authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender Bank (or any Person controlling such Lender its lending office) with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authorityauthority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on such Lender’s Bank's capital (or such controlling Person’s the capital of its holding company) as a consequence of such Lender’s its obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender Bank (or such controlling Person its holding company) could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s Bank's policies or such controlling Person’s the policies of its holding company with respect to capital adequacy) by an amount deemed by such Bank to be material, then from time to time, upon within fifteen (15) days after demand by such Lender Bank (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, with a copy of which shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender Bank such additional amount or amounts as will shall compensate such Lender Bank (or such controlling Person its holding company) for such reduction, so long as such amounts have accrued on or after the day which is ninety (90) days prior provided that Borrower's obligation under this Section 10.7 are limited to the date parts of such reduction directly related to the Loans. No Bank shall enforce this provision solely against Borrower or against a few of such Bank's customers without in each case generally enforcing these (or similar) provisions in other contracts (provided that, anything herein to the contrary notwithstanding, (a) no Bank shall be required to disclose to any Company the identity of or the nature of the Bank's relationship with, any other of such Bank's customers and (b) a general written statement of Bank regarding the satisfaction of this requirement shall be satisfactory to Borrower). Each Bank shall designate a different lending office if such designation will avoid the need for, or reduce the amount of, such compensation and will not, in the judgment of such Bank, be otherwise disadvantageous to such Bank. A certificate of any Bank claiming compensation under this Section and setting forth the additional amount or amounts to be paid to it hereunder shall be conclusive in the absence of manifest error. In determining such amount, such Bank may use any reasonable averaging and attribution methods. Failure on the part of any Bank to demand compensation for any reduction in return on capital with respect to any period shall not constitute a waiver of such Bank's rights to demand compensation for any reduction in return on capital in such period or in any other period. The protection of this Section shall be available to each Bank regardless of any possible contention of the invalidity or inapplicability of the law, regulation or other condition which such Lender first made demand thereforshall have been imposed.
Appears in 1 contract
Capital Adequacy. If any Lender shall or Issuing Bank reasonably determine determines that the adoption its required compliance with any law or taking effect of, regulation or any change in, guideline or request from any applicable Law regarding capital adequacy, in each instance, after the Closing Date, central bank or any change after the Closing Date in the interpretation, administration or application thereof by any other Governmental Authority, central bank or comparable agency charged with including, without limitation, the interpretation, administration or application thereof, or implementation of the compliance by any Lender or any Person controlling such Lender with any request, guideline or directive regarding capital adequacy Xxxx- 3rd Amended/Restated Credit Agreement Xxxxx Xxxx Street Reform and Consumer Protection Act (whether or not having the force of law) and any requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States regulatory authorities, in each case pursuant to Basel III (whether or not having the force of any such Governmental Authoritylaw), central bank or comparable agency adopted or otherwise taking effect after the Closing Date, has affects or would have affect the effect amount of reducing capital or liquidity required or expected to be maintained by such Lender or Issuing Bank or any corporation controlling such Lender or Issuing Bank and that the rate amount of return on such Lender’s the capital or such controlling Person’s capital as a consequence liquidity is increased by or based upon the existence of such Lender’s obligations hereunder commitment to lend or under any Support Agreement or Lender Letter such Issuing Bank’s commitment to issue the Letters of Credit to a level below that which and other commitments of this type, then, upon thirty days’ prior written notice by such Lender or such controlling Person could have achieved but for such adoption, taking effect, change, interpretation, administration, application or compliance Issuing Bank (taking into consideration such Lender’s or such controlling Person’s policies with respect to capital adequacy) then from time to time, upon demand by such Lender (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished any such demand to the Administrative Agent), the Borrower shall promptly pay to the Administrative Agent for the account of such Lender or Issuing Bank, as the case may be, from time-to-time as specified by such Lender or Issuing Bank, additional amount as will amounts sufficient to compensate such Lender or such controlling Person for such reductionIssuing Bank, so long as such amounts have accrued on or after in light of the day which is ninety (90) days prior circumstances, to the date on which extent that such Lender first made demand thereforor Issuing Bank, as the case may be, (x) reasonably determines the increase in capital to be allocable to the existence of such Lender’s commitment to lend or such Issuing Bank’s commitment to issue the Letters of Credit under this Agreement and (y) is generally seeking, or intends generally to seek, compensation from similarly situated borrowers under similar credit facilities (to the extent such Lender or Issuing Bank has the right under such similar credit facilities to do so) with respect to such required compliance with any law or regulation or any guideline or request from any central bank or other Governmental Authority regarding capital requirements. A certificate as to the amounts showing in reasonable detail the calculation of the amounts submitted to the Borrower by such Lender or Issuing Bank shall be presumptively correct, absent manifest error.
Appears in 1 contract
Capital Adequacy. If the amount of capital required or expected to be maintained by any Lender shall reasonably determine that Lender, the adoption or taking effect of, Issuing Bank or any change inPerson directly or indirectly owning or controlling such Lender or the Issuing Bank (each a "CONTROL PERSON"), shall be affected by
(a) the introduction or phasing in of any applicable Law regarding capital adequacylaw, in each instance, rule or regulation after the Closing Original Effective Date, or ,
(b) any change after the Closing Original Effective Date in the interpretationinterpretation of any existing law, administration rule or application thereof regulation by any Governmental Authority, central bank or comparable agency United States or foreign Governmental Authority charged with the interpretation, administration or application thereof, or the or
(c) compliance by any Lender such Lender, the Issuing Bank or any such Control Person controlling such Lender with any requestdirective, guideline or directive regarding capital adequacy request from any central bank or United States or foreign Governmental Authority (whether or not having the force of law) of any such Governmental Authority, central bank promulgated or comparable agency adopted or otherwise taking effect after the Closing made Original Effective Date, has and such Person shall have determined that such introduction, phasing in, change or would compliance shall have had or will thereafter have the effect of reducing (i) the rate of return on its capital, or (ii) the asset value to such Lender’s , the Issuing Bank or such controlling Person’s capital as a consequence Control Person of the Loans made or maintained by such Lender’s obligations hereunder or under any Support Agreement or Lender Letter , the Letters of Credit issued or maintained by the Issuing Bank or the Reimbursement Obligations or any participation therein owed to the Issuing Bank or any Lender to a level below that which such Lender Lender, the Issuing Bank or such controlling Control Person could have achieved or would thereafter be able to achieve but for such adoptionintroduction, taking effectphasing in, change, interpretation, administration, application change or compliance (after taking into consideration account such Lender’s 's, the Issuing Bank's or such controlling Control Person’s 's policies with respect to capital adequacy) then from time to timeregarding capital), upon in either case by an amount which it deems material, then, within ten days after demand by such Lender (which demand shall be accompanied by a statement setting forth or the basis for such demand and a calculation of Issuing Bank, the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender Lender, the Issuing Bank or such Control Person, as the case may be, such additional amount or amounts as will shall be sufficient to compensate such Lender Lender, the Issuing Bank or such controlling Person Control Person, as the case may be, for such reduction, so long as such amounts have accrued reduction on or after the day which is ninety (90) days prior to the date on which such Lender first made demand thereforan after-tax basis.
Appears in 1 contract
Capital Adequacy. If any a Lender shall have reasonably determine that determined that, after the date hereof, either (i) the adoption of any applicable law, rule, regulation, or taking effect ofguideline regarding capital adequacy, or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Datetherein, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authority, central bank bank, or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the (ii) compliance by any such Lender (or any Person controlling lending office of such Lender Lender) with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authorityauthority, central bank bank, or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on such Lender’s or such controlling Person’s 's capital as a consequence of such Lender’s its or Borrower's obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender or such controlling Person could have achieved but for such adoption, taking effect, change, interpretation, administration, application or compliance (taking into consideration by an amount reasonably deemed by such Lender’s or such controlling Person’s policies with respect Lender to capital adequacy) be material, then from time to time, upon within ten days after demand by such Lender (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent)Lender, Borrower shall promptly pay to such Lender such additional amount as will adequately compensate such Lender or such controlling Person for such reduction. Each Lender will notify Borrower of any event of which it has actual knowledge, so long as occurring after the date thereof, which will entitle such Lender to compensation pursuant to this Section 2.11. No failure by a Lender to immediately demand payment of any additional amounts payable hereunder shall constitute a waiver of such Lender's right to demand payment of such amounts have accrued on or after the day which is ninety (90) days prior to the date on which such Lender first made demand thereforat any subsequent time.
Appears in 1 contract
Capital Adequacy. If after the date hereof any Lender shall reasonably determine Bank determines that (i) the adoption of or taking effect ofchange in any law, governmental rule, regulation, policy, guideline or directive (whether or not having the force of law) regarding capital requirements for banks or bank holding companies or any change in, any applicable Law regarding capital adequacyin the interpretation or application thereof by a court or governmental authority with appropriate jurisdiction, in each instance, after case subsequent to the Closing Date, or any change after the Closing Date in the interpretation, administration or application thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation, administration or application thereof, or the (ii) compliance by any Lender such Bank or any Person corporation controlling such Lender Bank with any requestsuch adoption of or change in, law, governmental rule, regulation, policy, guideline or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateentity regarding capital adequacy, has or would have the effect of reducing the rate of return on such Lender’s or such controlling Person’s capital as a consequence of such Lender’s obligations hereunder or under any Support Agreement or Lender Letter of Credit Bank's Notes to a level below that which such Lender or such controlling Person Bank could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s or such controlling Person’s Bank's then existing policies with respect to capital adequacyadequacy and assuming full utilization of such entity's capital) then from time to time, upon demand by any amount deemed by such Lender Bank to be material, then such Bank may notify the Borrower of such fact. To the extent that the amount of such reduction in the return on capital is not reflected in the Base Rate, the Borrower and such Bank shall thereafter attempt to negotiate in good faith, within thirty (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation 30) days of the amount thereof day on which the Borrower receives such notice, an adjustment payable hereunder that will adequately compensate such Bank in reasonable detail, a copy light of which shall be furnished these circumstances. If the Borrower and such Bank are unable to Administrative Agent), Borrower shall promptly pay agree to such Lender such additional amount as will compensate such Lender or such controlling Person for such reduction, so long as such amounts have accrued on or after the day which is ninety adjustment within thirty (9030) days prior to of the date on which the Borrower receives such Lender first made demand therefornotice, then commencing on the date of such notice (but not earlier than the effective date of any such increased capital requirement), the fees payable hereunder shall increase by an amount that will, in such Bank's reasonable determination, provide adequate compensation. Each Bank shall allocate such cost increases among its customers in good faith and on an equitable basis.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Bangor Hydro Electric Co)
Capital Adequacy. If any Lender shall reasonably determine that after the adoption or taking effect date hereof, either (i) the ---------------- introduction of, or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Date, or any change after the Closing Date in the interpretation or enforcement of, any law, regulation, order, ruling, interpretation, administration directive, guideline or application thereof by request or (ii) the compliance with any Governmental Authorityorder, ruling, interpretation, directive, guideline or request from any central bank or comparable agency charged with the interpretation, administration or application thereof, or the compliance by any Lender or any Person controlling such Lender with any request, guideline or directive regarding capital adequacy other governmental authority (whether or not having the force of law) of any such Governmental Authorityissued, central bank announced, published, promulgated or comparable agency adopted or otherwise taking effect made after the Closing Datedate hereof (including, has or would have the effect of reducing the rate of return on such Lender’s or such controlling Person’s capital as a consequence of such Lender’s obligations hereunder or under in any Support Agreement or Lender Letter of Credit to a level below that which such Lender or such controlling Person could have achieved but for such adoptionevent, taking effectany law, changeregulation, order, ruling, interpretation, administrationdirective, application guideline or compliance (taking into consideration request contemplated by the report dated July, 1988 entitled "International Convergence of Capital Measurement and Capital Standards" issued by the Basle Committee on Banking Regulation and Supervisory Practices) affects or would affect the amount of capital required or expected to be maintained by the Bank or any corporation controlling the Bank and the Bank reasonably determines that the amount of such Lender’s required or such controlling Person’s policies with respect expected capital is increased by or based upon the existence of the Bank's Revolving Loans hereunder or the Bank's commitment to capital adequacy) then from time to timelend hereunder, then, upon demand by such Lender (which demand the Bank, the Borrower shall be accompanied liable for, and shall pay to the Bank, within thirty (30) days following demand from time to time by a statement setting forth the basis Bank, additional amounts sufficient to compensate the Bank in the light of such circumstances for the effects of such demand and a calculation law, regulation, order, ruling, interpretation, directive, guideline or request, to the extent that the Bank reasonably determines such increase in capital to be allocable to the existence of the amount thereof in reasonable detailBank's Revolving Loans hereunder or of the Bank's commitment to lend hereunder. A certificate substantiating such amounts and identifying the event giving rise thereto, a copy submitted to the Borrower by the Bank, shall be conclusive, absent manifest error. The Bank shall promptly notify the Borrower of any event of which shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender such additional amount as will compensate such Lender or such controlling Person for such reduction, so long as such amounts have accrued on or it has knowledge occurring after the day date of this Agreement which is ninety will entitle the Bank to compensation pursuant to this Section, and the Bank shall take any reasonable action available to it consistent with its internal policy and legal and regulatory restrictions (90including the designation of a different Lending Office, if any) days prior that will avoid the need for, or reduce the amount of, such compensation and will not in the reasonable judgment of the Bank be otherwise disadvantageous to the date on which such Lender first made demand thereforBank.
Appears in 1 contract
Samples: Credit Agreement (Centris Group Inc)
Capital Adequacy. If any Lender Bank shall reasonably determine that have determined that, after the date hereof, (a) the adoption of any applicable law, rule or taking effect ofregulation regarding capital adequacy, or any change inin any such law, any applicable Law regarding capital adequacyrule, in each instance, after the Closing Dateor regulation, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authoritygovernmental authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender or any Person controlling such Lender with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authorityauthority, central bank or comparable agency adopted agency, or otherwise taking effect after (b) compliance by such Bank or the Closing DateAdministrative Agent or any corporation controlling such Bank or the Administrative Agent with any law, governmental rule, regulation, policy, guideline or directive (whether or not having the force of law and including any determination by such central bank or other governmental authority that for purposes of capital adequacy requirements the Commitments hereunder do not constitute commitments with an original maturity of one year or less) of any such entity regarding capital adequacy, has or would 44 -38- have the effect of reducing the rate of return on capital of such Lender’s Bank (or any corporation controlling such controlling Person’s capital Bank) as a consequence of such Lender’s Bank's obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender Bank (or any corporation controlling such controlling Person Bank) could have achieved but for such adoption, taking effect, change, interpretation, administration, application request or compliance directive (taking into consideration such Lender’s or such controlling Person’s its policies with respect to capital adequacy) by an amount deemed by such Bank to be material, then from time to time, upon within 15 days after demand by such Lender (which demand shall be accompanied by a statement setting forth Bank, the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender Bank such additional amount or amounts as will will, in such Bank's reasonable determination, fairly compensate such Lender Bank (or any corporation controlling such controlling Person Bank) for such reduction, so long as . Each Bank shall allocate such amounts have accrued cost increases among its customers in good faith and on or after the day which is ninety (90) days prior to the date on which such Lender first made demand thereforan equitable basis.
Appears in 1 contract
Capital Adequacy. If the Agent, any Lender Bank or the Letter of Credit Issuer shall have reasonably determine that determined that, subsequent to the date hereof, any change in the applicability of any law, rule, regulation or guideline, or the adoption after the date hereof of any other law, rule, regulation or taking effect ofguideline regarding capital adequacy, or any change in, in any applicable Law regarding capital adequacy, in each instance, after of the Closing Date, foregoing or any change after the Closing Date in the interpretation, interpretation or administration or application thereof of any of the foregoing by any Governmental Authoritygovernmental authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender such Bank or the Letter of Credit Issuer (or any Person controlling lending office of such Lender Bank or the Letter of Credit Issuer) or such Bank's or the Letter of Credit Issuer's holding company with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authorityauthority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on such Lender’s Bank's or the Letter of Credit Issuer's capital or on the capital of such controlling Person’s capital Bank's or the Letter of Credit Issuer's holding company, if any, as a consequence of such Lender’s its obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender Bank or the Letter of Credit Issuer or such controlling Person Bank's or the Letter of Credit Issuer's holding company could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s Bank's or the Letter of Credit Issuer's policies and the policies of such controlling Person’s policies Bank's or the Letter of Credit Issuer's holding company with respect to capital adequacy) by an amount deemed by such Bank or the Letter of Credit Issuer to be material, then from time to time, upon demand by such Lender (which demand shall be accompanied by a statement setting forth time the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly pay to the Agent on behalf of such Lender Bank or the Letter of Credit Issuer such additional amount or amounts as will reasonably compensate such Lender Bank or the Letter of Credit Issuer or its or their holding company or companies for any such controlling Person for such reduction, so long as such amounts have accrued on or after the day which is ninety (90) days prior to the date on which such Lender first made demand thereforreduction suffered.
Appears in 1 contract
Capital Adequacy. If any Lender If, after the date hereof, the Bank shall reasonably determine ----------------- have determined in good faith that the adoption or taking effect ofimplementation of any applicable law, rule, or regulation regarding capital adequacy (including, without limitation, any law, rule, or regulation implementing the Basle Accord), or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Datetherein, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authority, central bank or comparable agency other Governmental Authority charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender the Bank (or any Person controlling such Lender its parent) with any guideline, request, guideline or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency adopted other Governmental Authority (including, without limitation, any guideline or otherwise taking effect after other requirement implementing the Closing DateBasle Accord), has or would have the effect of reducing the rate of return on such Lender’s the Bank's (or such controlling Person’s its parent's) capital as a consequence of such Lender’s its obligations hereunder or under any Support Agreement or Lender Letter of Credit the transactions contemplated hereby to a level below that which such Lender the Bank (or such controlling Person its parent) could have achieved but for such adoption, taking effectimplementation, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s or such controlling Person’s the Bank's policies with respect to capital adequacy) by an amount deemed by the Bank to be material, then from time to time, upon within ten (l0) Business Days after demand by such Lender (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation of Bank, the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender the Bank such additional amount or amounts as will compensate such Lender the Bank (or such controlling Person its parent) for such reduction, so long as such amounts have accrued on or after ; provided that any claim by the day which is Bank for compensation pursuant to this Section 6.7 shall ----------- be made within ninety (90) days prior after the initial occurrence of the event giving rise to such claim. A certificate of the date Bank claiming compensation under this Section and setting forth the additional amount or amounts to be paid to it hereunder shall be conclusive, provided that the determination thereof is made in good faith and on which a reasonable basis. In determining such Lender first made demand thereforamount or amounts, the Bank may use any reasonable averaging and attribution methods.
Appears in 1 contract
Samples: Loan Agreement (Pizza Inn Inc /Mo/)
Capital Adequacy. If after the date hereof, any Lender Bank shall reasonably determine have determined that the adoption of any Applicable Law regulating United States banks and regarding the capital adequacy of banks or taking effect ofbank holding companies, or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Datetherein, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authority, central bank or comparable agency of the U.S. charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender or any Person controlling such Lender the Bank with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on such Lender’s or such controlling Person’s Bank's capital as a consequence of such Lender’s its obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender or such controlling Person it could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s or such controlling Person’s Bank's policies with respect to capital adequacyadequacy immediately before such adoption, change or compliance and assuming that such Bank's capital was fully utilized prior to such adoption, change or compliance) then from time to timeby a material amount, then, upon the earlier of demand by such Lender (which demand Bank or the Maturity Date, the Borrower agrees to pay immediately to such Bank, such additional amounts as shall be accompanied by a statement sufficient to compensate such Bank for such reduced return beginning as of the date of written notice to the Borrower described above, together with interest on such amount from the fourth (4th) day after the date of demand or the Maturity Date, as applicable, until payment in full thereof at the Default Rate. A certificate of such Bank setting forth the basis for amount to be paid to such demand and Bank by the Borrower as a calculation result of any event referred to in this paragraph shall, absent manifest error, be conclusive. Each Bank agrees that if any amount or any portion of any amount described in this Section is subsequently recovered by such Bank, such Bank shall promptly reimburse the Borrower to the extent of the amount thereof in reasonable detail, a copy so recovered. A certificate of which such Bank setting forth the amount of such recovery and the basis therefor shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender such additional amount as will compensate such Lender or such controlling Person for such reduction, so long as such amounts have accrued on or after the day which is ninety (90) days prior provided to the date on which such Lender first made demand thereforBorrower.
Appears in 1 contract
Samples: Loan Agreement (Irt Property Co)
Capital Adequacy. If any Lender shall reasonably determine after the date hereof the Bank determines that (a) the adoption of or taking effect ofchange in any law, governmental rule, regulation, policy, guideline or directive (whether or not having the force of law) regarding capital requirements for banks or bank holding companies or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Date, or any change after the Closing Date in the interpretation, administration interpretation or application thereof by any Governmental Authority, central bank a court or comparable agency charged governmental authority with the interpretation, administration or application thereofappropriate jurisdiction, or the (b) compliance by any Lender the Bank or any Person corporation controlling such Lender the Bank with any requestlaw, governmental rule, regulation, policy, guideline or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateentity regarding capital adequacy, has or would have the effect of reducing the rate of return on such Lenderthe Bank’s or such controlling Person’s capital as a consequence of such Lender’s obligations hereunder or under commitment with respect to any Support Agreement or Lender Letter of Credit Loans to a level below that which such Lender or such controlling Person the Bank could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lenderthe Bank’s or such controlling Person’s then existing policies with respect to capital adequacyadequacy and assuming full utilization of such entity’s capital) by any amount deemed by the Bank to be material, then from time the Bank shall notify the Borrower of such fact. To the extent that the amount of such reduction in the return on capital is not reflected in the Base Rate, the Borrower and the Bank shall thereafter attempt to timenegotiate in good faith, upon demand by such Lender within thirty (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation 30) days of the amount thereof day on which the Borrower receives such notice, an adjustment payable hereunder that will adequately compensate the Bank in reasonable detail, a copy light of which shall be furnished these circumstances. If the Borrower and the Bank are unable to Administrative Agent), Borrower shall promptly pay agree to such Lender such additional amount as will compensate such Lender or such controlling Person for such reduction, so long as such amounts have accrued on or after the day which is ninety adjustment within thirty (9030) days prior to of the date on which the Borrower receives such Lender first made demand therefornotice, then commencing on the date of such notice (but not earlier than the effective date of any such increased capital requirement), the fees payable hereunder shall increase by an amount that will, in the Bank’s reasonable determination, provide adequate compensation. The Bank shall allocate such cost increases among its customers in good faith and on an equitable basis.
Appears in 1 contract
Capital Adequacy. (a) If any Lender Bank shall reasonably determine that have determined that, after the date hereof, the adoption of any applicable law, rule or taking effect ofregulation regarding capital adequacy, or any change inin any such law, any applicable Law regarding capital adequacy, in each instance, after the Closing Daterule or regulation, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authoritygovernmental authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender or any Person controlling such Lender with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authorityauthority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on capital of such Lender’s Bank (or such controlling Person’s capital its Parent) as a consequence of such Lender’s Bank's obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender Bank (or such controlling Person its Parent) could have achieved but for such adoption, taking effect, change, interpretation, administration, application request or compliance directive (taking into consideration such Lender’s or such controlling Person’s its policies with respect to capital adequacy) by an amount deemed by such Bank to be material, then from time to time, upon within 15 days after demand by such Lender Bank (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, with a copy of which shall be furnished to Administrative Agentthe Issuing Bank), Borrower the Company shall promptly pay to such Lender Bank such additional amount or amounts as will compensate such Lender Bank (or such controlling Person its Parent) for such reduction.
(b) Each Bank will promptly notify the Company and the Issuing Bank of any event of which it has knowledge, so long as such amounts have accrued on or occurring after the day date hereof, which is ninety (90) days prior will entitle such Bank to compensation pursuant to this Section and will designate a different Applicable Credit Office if such designation will avoid the date on which need for, or reduce the amount of, such Lender first made demand thereforcompensation and will not, in the judgment of such Bank, be otherwise disadvantageous to such Bank. A certificate of any Bank claiming compensation under this Section and setting forth the additional amount or amounts to be paid to it hereunder shall be conclusive in the absence of manifest error. In determining such amount, such Bank may use any reasonable averaging and attribution methods.
Appears in 1 contract
Samples: Letter of Credit and Reimbursement Agreement (Tenet Healthcare Corp)
Capital Adequacy. If (a) If, after the date of this ---------------- Agreement, any Lender Bank shall reasonably determine have determined that the adoption of any applicable law, rule or taking effect ofregulation regarding capital adequacy, or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Datetherein, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authoritygovernmental authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender or any Person controlling such Lender Bank with any request, guideline request or directive regarding capital adequacy not currently in effect or fully applicable as of the Closing Date (whether or not having the force of law) of any such Governmental Authorityauthority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on such Lender’s or such controlling Person’s Bank's capital as a consequence of such Lender’s its obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender or such controlling Person Bank could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s or such controlling Person’s Bank's policies with respect to capital adequacy) then by an amount deemed by such Bank to be material; or
(b) if, by reason of (x) after the date hereof, the introduction of or any change (including, without limitation, any change by way of imposition or increase of reserve requirements) in or in the interpretation of any law or regulation, or (y) the compliance with any guideline or request from any central bank or other governmental authority or quasi-governmental authority exercising control over banks or financial institutions generally (whether or not having force of law)
(1) any Bank shall be subject to any tax, duty or other charge with respect to its Letter of Credit Obligations or its obligation to issue Letters of Credit, or the basis of taxation of payments to any Bank on its obligation to issue Letters of Credit shall have changed (except for changes in the tax on the overall net income of such Bank imposed by the jurisdiction in which such Bank's principal executive office or applicable lending office is located); or (2) any reserve (including, without limitation, any imposed by the Board of Governors of the Federal Reserve System), special deposit or similar requirement against assets of, deposits with or for the account of, or credit extended by, any Bank's applicable lending office shall be imposed or deemed applicable or any other condition affecting its Letter of Credit Obligations or its obligation to issue Letters of Credit shall be imposed on any Bank or its applicable lending office; and as a result thereof there shall be any increase in the cost to such Bank of agreeing to issue or issuing, purchasing participations, funding or maintaining Letters of Credit, or there shall be a reduction in the amount received or receivable by such Bank or its applicable lending office; then, from time to time, promptly upon demand by such Lender Bank (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, with a copy of which shall be furnished to Administrative the Agent), Borrower the Company shall promptly pay to such Lender Bank such additional amount or amounts as will compensate such Lender or such controlling Person Bank for such reduction. A certificate of any Bank claiming compensation under this Section and setting forth the additional amount or amounts to be paid to it hereunder shall be conclusive absent manifest error. In determining any such amount, so long as such amounts Bank may use any reasonable averaging and attribution methods. Each Bank will promptly notify the Company of any such adoption, change or compliance of which it has knowledge which will entitle such Bank to compensate pursuant to this Section, but the failure to give such notice shall not affect such Bank's right to such compensation provided such Bank gives such notice within 90 days after an officer of such Bank having responsibility for the administration of this Agreement shall have accrued on received actual notice of such adoption, change or after the day which is ninety (90) days prior to the date on which such Lender first made demand thereforcompliance.
Appears in 1 contract
Samples: Revolving Credit Agreement (Law Companies Group Inc)
Capital Adequacy. If any Lender shall reasonably determine that after the adoption or taking effect date hereof, either (i) the introduction of, or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Date, or any change after the Closing Date in the interpretation or enforcement of, any law, regulation, order, ruling, interpretation, administration directive, guideline or application thereof by request or (ii) the compliance with any Governmental Authorityorder, ruling, interpretation, directive, guideline or request from any central bank or comparable agency charged with the interpretation, administration or application thereof, or the compliance by any Lender or any Person controlling such Lender with any request, guideline or directive regarding capital adequacy other governmental authority (whether or not having the force of law) of any such Governmental Authorityissued, central bank announced, published, promulgated or comparable agency adopted or otherwise taking effect made after the Closing Datedate hereof (including, has or would have the effect of reducing the rate of return on such Lender’s or such controlling Person’s capital as a consequence of such Lender’s obligations hereunder or under in any Support Agreement or Lender Letter of Credit to a level below that which such Lender or such controlling Person could have achieved but for such adoptionevent, taking effectany law, changeregulation, order, ruling, interpretation, administrationdirective, application guideline or compliance (taking into consideration request contemplated by the report dated July, 1988 entitled "International Convergence of Capital Measurement and Capital Standards" issued by the Basle Committee on Banking Regulation and Supervisory Practices) affects or would affect the amount of capital required or expected to be maintained by the Bank or any corporation controlling the Bank and the Bank reasonably determines that the amount of such Lender’s required or such controlling Person’s policies with respect expected capital is increased by or based upon the existence of the Bank's Loans hereunder or the Bank's commitment to capital adequacy) then from time to timelend hereunder, then, upon demand by such Lender (which demand the Bank, the Borrower shall be accompanied liable for, and shall pay to the Bank, within thirty (30) days following demand from time to time by a statement setting forth the basis Bank, additional amounts sufficient to compensate the Bank in the light of such circumstances for the effects of such demand and a calculation law, regulation, order, ruling, interpretation, directive, guideline or request, to the extent that the Bank reasonably determines such increase in capital to be allocable to the existence of the amount thereof in reasonable detailBank's Loans hereunder or of the Bank's commitment to lend hereunder. A certificate substantiating such amounts and identifying the event giving rise thereto, a copy submitted to the Borrower by the Bank, shall be conclusive, absent manifest error. The Bank shall promptly notify the Borrower of any event of which shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender such additional amount as will compensate such Lender or such controlling Person for such reduction, so long as such amounts have accrued on or it has knowledge occurring after the day date of this Agreement which is ninety will entitle the Bank to compensation pursuant to this Section, and the Bank shall take any reasonable action available to it consistent with its internal policy and legal and regulatory restrictions (90including the designation of a different Lending Office, if any) days prior that will avoid the need for, or reduce the amount of, such compensation and will not in the reasonable judgment of the Bank be otherwise disadvantageous to the date on which such Lender first made demand thereforBank.
Appears in 1 contract
Samples: Credit Agreement (Lincoln Snacks Co)
Capital Adequacy. If after the date hereof any Lender shall reasonably determine Bank determines that (a) the adoption of or taking effect ofchange in any law, governmental rule, regulation, policy, guideline or directive (whether or not having the force of law) regarding capital requirements for banks or bank holding companies or any change in, any applicable Law regarding capital adequacyin the interpretation or application thereof by a court or governmental authority with appropriate jurisdiction, in each instance, after case made subsequent to the Closing Date, or (b) compliance by such Bank or any change after the Closing Date in the interpretation, administration or application thereof by corporation controlling such Bank with any Governmental Authority, central bank or comparable agency charged with the interpretation, administration or application thereofsuch adoption of, or the compliance by any Lender or any Person controlling such Lender with any requestchange in, law, governmental rule, regulation, policy, guideline or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateentity regarding capital adequacy, has or would have the effect of reducing the rate of return on such Lender’s or such controlling Person’s capital as a consequence of such Lender’s obligations hereunder or under any Support Agreement or Lender Letter of Credit Bank's Term Note to a level below that which such Lender or such controlling Person Bank could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s or such controlling Person’s Bank's then existing policies with respect to capital adequacyadequacy and assuming full utilization of such entity's capital) then from time to time, upon demand by any amount deemed by such Lender Bank to be material, then such Bank may notify the Borrower of such fact. To the extent that the amount of such reduction in the return on capital is not reflected in the Base Rate, the Borrower and such Bank shall thereafter attempt to negotiate in good faith, within thirty (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation 30) days of the amount thereof day on which the Borrower receives such notice, an adjustment payable hereunder that will adequately compensate such Bank in reasonable detail, a copy light of which shall be furnished these circumstances. If the Borrower and such Bank are unable to Administrative Agent), Borrower shall promptly pay agree to such Lender such additional amount as will compensate such Lender or such controlling Person for such reduction, so long as such amounts have accrued on or after the day which is ninety adjustment within thirty (9030) days prior to of the date on which the Borrower receives such Lender first made demand therefornotice, then commencing on the date of such notice (but not earlier than the effective date of any such increased capital requirement), the fees payable hereunder shall increase by an amount that will, in such Bank's reasonable determination, provide adequate compensation. Each Bank shall allocate such cost increases among its customers in good faith and on an equitable basis.
Appears in 1 contract
Capital Adequacy. If after the date hereof, any Lender Bank shall reasonably determine ---------------- have determined that the adoption or taking effect ofimplementation after the date hereof of any applicable law, rule, or regulation regarding capital adequacy, or any change in, any applicable Law regarding capital adequacy, in each instance, therein after the Closing Datedate hereof, or any change in the interpretation or administration thereof after the Closing Date in the interpretation, administration or application thereof date hereof by any Governmental Authority, central bank or comparable agency other Governmental Authority charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender such Bank (or any Person controlling such Lender its parent) with any guideline, request, guideline or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency adopted or otherwise taking effect other Governmental Authority issued after the Closing Date, date hereof has or would have the effect of reducing the rate of return on such Lender’s Bank's (or such controlling Person’s its parent's) capital as a consequence of such Lender’s its obligations hereunder or under any Support Agreement or Lender Letter of Credit the transactions contemplated hereby to a level below that which such Lender Bank (or such controlling Person its parent) could have achieved but for such adoption, taking effectimplementation, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s or such controlling Person’s Bank's policies with respect to capital adequacy) by an amount deemed by such Bank to be material, then from time to time, upon within ten (10) Business Days after demand by such Lender Bank (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, with a copy of which shall be furnished to Administrative the Agent), the Borrower shall promptly pay to such Lender Bank such additional amount or amounts as will compensate such Lender Bank (or such controlling Person its parent) for such reduction. A certificate of such Bank claiming compensation under this Section and setting forth the additional amount or amounts to be paid to it hereunder shall be conclusive, so long as provided that the determination thereof is made on a reasonable basis. In determining such amount or amounts, such Bank may use any reasonable averaging and attribution methods. With respect to each demand by a Bank under this Section 6.6, no Bank shall have the right to demand compensation for amounts have accrued on or after attributable to any reduction in such Bank's rate of return occurring at any time before the day date which is ninety three (903) days months prior to the date on which the Bank gives such Lender first made demand thereforfor compensation to the Borrower.
Appears in 1 contract
Samples: Credit Agreement (Learningstar Inc)
Capital Adequacy. If If, after the date of this Agreement, the Issuing Bank or any Lender shall reasonably determine have determined that the adoption or taking effect ofimplementation of any applicable law, rule or regulation regarding capital adequacy, or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Datetherein, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authoritygovernmental authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender the Issuance Bank or any Person controlling such Lender Lender, as the case may be, with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authorityauthority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on the Issuing Bank’s or such Lender’s capital, with respect to this Agreement, or such controlling Person’s capital the Letters of Credit or participations in the Letters of Credit, or otherwise, as a consequence of such Lender’s its obligations hereunder and under or under any Support Agreement or Lender Letter with respect to the Letters of Credit to a level below that which such Lender the Issuing Bank or such controlling Person Lender, as the case may be, could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s or such controlling Person’s its policies with respect to capital adequacy) by an amount deemed by the Issuing Bank or such Lender, as the case may be, to be material, then from time to time, promptly upon demand by the Issuing Bank, the Borrower hereby agrees to pay such Lender (which demand shall be accompanied by a statement additional amount or amounts as will compensate the Issuing Bank or such Lender, as the case may be, for such reduction. A certificate of the Issuing Bank or such Lender, as the case may be, claiming compensation under this section and setting forth the basis for such demand and a calculation of the additional amount thereof in reasonable detail, a copy of which or amounts to be paid to it hereunder shall be furnished to Administrative Agent)conclusive absent manifest error. In determining any such amount, Borrower shall promptly pay to such Lender such additional amount as will compensate such Lender the Issuing Bank or such controlling Person for such reductionLender, so long as such amounts have accrued on or after the day which is ninety (90) days prior to the date on which such Lender first made demand thereforcase may be, may use any reasonable averaging and attribution methods.
Appears in 1 contract
Samples: Letter of Credit and Security Agreement (Agl Resources Inc)
Capital Adequacy. If any Lender If, ---------------------- ---------------- after the date hereof, the Bank shall reasonably determine have determined in good faith that the adoption or taking effect ofimplementation of any applicable law, rule, or regulation regarding capital adequacy (including, without limitation, any law, rule, or regulation implementing the Basle Accord), or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Datetherein, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authority, central bank or comparable agency other Governmental Authority charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender the Bank (or any Person controlling such Lender its parent) with any guideline, request, guideline or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency adopted other Governmental Authority (including, without limitation, any guideline or otherwise taking effect after other requirement implementing the Closing DateBasle Accord), has or would have the effect of reducing the rate of return on such Lender’s the Bank's (or such controlling Person’s its parent's) capital as a consequence of such Lender’s its obligations hereunder or under any Support Agreement or Lender Letter of Credit the transactions contemplated hereby to a level below that which such Lender the Bank (or such controlling Person its parent) could have achieved but for such adoption, taking effectimplementation, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s or such controlling Person’s the Bank's policies with respect to capital adequacy) by an amount deemed by the Bank to be material, then from time to time, upon within ten (10) Business Days after demand by such Lender (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation of Bank, the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender the Bank such additional amount or amounts as will compensate such Lender the Bank (or such controlling Person its parent) for such reduction, so long as such amounts have accrued on or after ; provided that any claim by the day which is Bank for compensation pursuant to this Section 6.7 shall be made within ninety (90) days prior ----------- after the initial occurrence of the event giving rise to such claim. A certificate of the date Bank claiming compensation under this Section and setting forth the additional amount or amounts to be paid to it hereunder shall be conclusive, provided that the determination thereof is made in good faith and on which a reasonable basis. In determining such Lender first made demand thereforamount or amounts, the Bank may use any reasonable averaging and attribution methods.
Appears in 1 contract
Samples: Loan Agreement (Pizza Inn Inc /Mo/)
Capital Adequacy. If any Lender Bank shall reasonably determine that have determined that, after the date hereof, the adoption of any applicable Law, rule or taking effect ofregulation regarding capital adequacy, or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Datetherein, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any Lender of such Bank with, or any Person controlling such Lender with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on capital of such Lender’s Bank (or such controlling Person’s capital its Parent) as a consequence of such Lender’s Bank's obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender Bank (or such controlling Person its Parent) could have achieved but for such adoption, taking effect, change, interpretation, administration, application or compliance (taking into consideration such Lender’s or such controlling Person’s its policies with respect to capital adequacyadequacy existing on the date of this Agreement) by an amount deemed by such Bank to be material, then from time to time, upon within fifteen (15) days after demand by such Lender Bank (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, with a copy of which shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender Bank such additional amount or amounts as will compensate such Lender Bank (or such controlling Person its Parent) for such reduction. A certificate of any Bank claiming compensation under this Section, so long setting forth in reasonable detail the basis therefor, shall be conclusive in the absence of manifest error. However, to the extent capital costs relate to a Bank's loans in general and not specifically to a Loan hereunder, such Bank shall use reasonable averaging and attribution methods. In addition, each Bank agrees that, as promptly as practical after it becomes aware of the occurrence of an event or the existence of a condition that would entitle it to exercise its rights under this Section, it will use commercially reasonable efforts to make, fund or maintain the affected Advances through another lending office of such amounts have accrued Bank if (1) as a result thereof the additional money that would otherwise be required to be paid in respect of such Advances would be reduced, and (2) the making, funding or maintaining of such Advances through such other lending office would not adversely affect such Advances or such Bank. Finally, if a Bank is to require Borrower to make payments under this Section then Bank must make a demand on or after the day which is Borrower to make such payment within ninety (90) days prior to of the later of (1) the date on which such Lender first made demand thereforcapital costs are actually incurred by such Bank, or (2) the date on which such Bank knows, or should have known, that such capital costs have been incurred by such Bank.
Appears in 1 contract
Samples: Revolving Credit Agreement (Harvest States Cooperatives)
Capital Adequacy. If any Lender (a) In the event that the Bank shall reasonably determine have determined that the adoption or taking effect ofimplementation on or after the Closing Date of any applicable law, rule, regulation or guideline regarding capital adequacy, or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Datetherein, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authoritygovernmental authority, central bank or comparable agency charged with the interpretation, interpretation or administration thereof or application thereofby any court, or the compliance by any Lender the Bank (or any Person controlling such Lender lending office of the Bank) with any request, guideline request or directive made or issued after the Closing Date regarding capital adequacy (whether or not having the force of law) of any such Governmental Authorityauthority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on such Lender’s or such controlling Person’s the Bank's capital as a consequence of such Lender’s its obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender or such controlling Person the Bank could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s or such controlling Person’s the Bank's policies as the case may be, with respect to capital adequacy) by an amount deemed by the Bank to be material, then from time to time, upon demand by such Lender (which demand shall be accompanied by a statement setting forth time the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender the Bank such additional amount or amounts as will compensate the Bank for any such Lender or such controlling Person for such reductionreduction suffered; provided, so long as however, that no such amounts have accrued shall be payable with respect to a reduction in rate of return incurred more than 90 days before the Bank demands compensation under this Section.
(b) Failure on the part of the Bank to demand compensation for any reduction in return on capital with respect to any period shall not constitute a waiver of the Bank's rights to demand compensation for any reduction in return on capital in such period or after the day which is ninety (90) days prior in any other period. The protection of this Section shall be available to the date on Bank regardless of any possible contention of invalidity or inapplicability of the law, regulation or condition which such Lender first made demand thereforshall have been imposed.
Appears in 1 contract
Capital Adequacy. If any Lender shall reasonably determine that after the adoption or taking effect date hereof, either (i) ---------------- the introduction of, or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Date, or any change after the Closing Date in the interpretation or enforcement of, any law, regulation, order, ruling, interpretation, administration directive, guideline or application thereof by request or (ii) the compliance with any Governmental Authorityorder, ruling, interpretation, directive, guideline or request from any central bank or comparable agency charged with the interpretation, administration or application thereof, or the compliance by any Lender or any Person controlling such Lender with any request, guideline or directive regarding capital adequacy other governmental authority (whether or not having the force of law) of any such Governmental Authorityissued, central bank announced, published, promulgated or comparable agency adopted or otherwise taking effect made after the Closing Datedate hereof (including, has or would have the effect of reducing the rate of return on such Lender’s or such controlling Person’s capital as a consequence of such Lender’s obligations hereunder or under in any Support Agreement or Lender Letter of Credit to a level below that which such Lender or such controlling Person could have achieved but for such adoptionevent, taking effectany law, changeregulation, order, ruling, interpretation, administrationdirective, application guideline or compliance (taking into consideration request contemplated by the report dated July, 1988 entitled "International Convergence of Capital Measurement and Capital Standards" issued by the Basle Committee on Banking Regulation and Supervisory Practices) affects or would affect the amount of capital required or expected to be maintained by the Bank or any corporation controlling the Bank and the Bank reasonably determines that the amount of such Lender’s required or such controlling Person’s policies with respect expected capital is increased by or based upon the existence of the Bank's Revolving Loans hereunder or the Bank's commitment to capital adequacy) then from time to timelend hereunder, then, upon demand by such Lender (which demand the Bank, the Borrower shall be accompanied liable for, and shall pay to the Bank, within thirty (30) days following demand from time to time by a statement setting forth the basis Bank, additional amounts sufficient to compensate the Bank in the light of such circumstances for the effects of such demand and a calculation law, regulation, order, ruling, interpretation, directive, guideline or request, to the extent that the Bank reasonably determines such increase in capital to be allocable to the existence of the amount thereof in reasonable detailBank's Revolving Loans hereunder or of the Bank's commitment to lend hereunder. A certificate substantiating such amounts and identifying the event giving rise thereto, a copy submitted to the Borrower by the Bank, shall be conclusive, absent manifest error. The Bank shall promptly notify the Borrower of any event of which shall be furnished to Administrative Agent), Borrower shall promptly pay to such Lender such additional amount as will compensate such Lender or such controlling Person for such reduction, so long as such amounts have accrued on or it has knowledge occurring after the day date of this Agreement which is ninety will entitle the Bank to compensation pursuant to this Section, and the Bank shall take any reasonable action available to it consistent with its internal policy and legal and regulatory restrictions (90including the designation of a different Lending Office, if any) days prior that will avoid the need for, or reduce the amount of, such compensation and will not in the reasonable judgment of the Bank be otherwise disadvantageous to the date on which such Lender first made demand thereforBank.
Appears in 1 contract
Samples: Credit Agreement (Centris Group Inc)
Capital Adequacy. If after the date hereof, any Lender or Issuing Bank (or any affiliate thereof) shall have reasonably determine determined that the adoption of any applicable law, governmental rule, regulation or taking effect oforder regarding the capital adequacy of banks or bank holding companies, or any change in, any applicable Law regarding capital adequacy, in each instance, after the Closing Datetherein, or any change after the Closing Date in the interpretation, interpretation or administration or application thereof by any Governmental Authoritygovernmental authority, central bank or comparable agency charged with the interpretation, interpretation or administration or application thereof, or the compliance by any such Lender or Issuing Bank (or any Person controlling such Lender affiliate thereof) with any request, guideline request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authoritygovernmental authority, central bank or comparable agency adopted or otherwise taking effect after the Closing Dateagency, has or would have the effect of reducing the rate of return on such Lender’s 's or such controlling Person’s Issuing Bank's (or any affiliate thereof) capital as a consequence of such Lender’s 's or Issuing Bank's Commitments or obligations hereunder or under any Support Agreement or Lender Letter of Credit to a level below that which such Lender or such controlling Person it could have achieved but for such adoption, taking effect, change, interpretation, administration, application change or compliance (taking into consideration such Lender’s 's or such controlling Person’s Issuing Bank's (or any affiliate thereof) policies with respect to capital adequacyadequacy immediately before such adoption, change or compliance and assuming that such Lender's or Issuing Bank's (or any affiliate thereof) then from time capital was fully utilized prior to timesuch adoption, change or compliance), then, upon demand by such Lender (which demand or Issuing Bank, the Borrowers shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail, a copy of which shall be furnished to Administrative Agent), Borrower shall promptly immediately pay to such Lender or Issuing Bank such additional amount amounts as will shall be sufficient to compensate such Lender or Issuing Bank for any such controlling Person for such reductionreduction actually suffered; provided, so long as such however, that there shall be no duplication of amounts have accrued on paid to a Lender or after the day which is ninety (90) days prior Issuing Bank pursuant to the date on which this sentence and Section 11.3 hereof. A certificate of such Lender first made demand therefor.or Issuing Bank setting forth the amount to be paid to such Lender or Issuing Bank by the Borrowers as a result of any event referred to in this paragraph shall, absent manifest error, be conclusive. 95 102
Appears in 1 contract
Samples: Credit Agreement (Bull Run Corp)