Common use of Capital Requirements; Increased Costs Clause in Contracts

Capital Requirements; Increased Costs. If (i) the introduction of, or any change in, or in the interpretation of, any applicable law or (ii) compliance with any guideline or request from any central bank or comparable agency or other governmental authority (whether or not having the force of law), has or would have the effect of reducing the rate of return on the capital of, or has affected or would affect the amount of capital required to be maintained by Lender or any Person controlling Lender as a consequence of, or with reference to, the Revolving Loan Commitment and other commitments of this type, below the rate which Lender or such other Person could have achieved but for such introduction, change, or compliance, then within five (5) Business Days after Lender’s written demand therefor, Borrowers shall pay Lender from time to time as specified by Lender additional amounts sufficient to compensate Lender or such other Person for such reduction. Lender’s accounting of such amounts submitted in writing to Borrowers shall be presumed conclusive absent manifest error. If there is any change in the LIBOR Reserve Requirements, then Borrowers shall, from time to time upon demand by Lender, pay to Lender such additional amounts as Lender may deem necessary to compensate Lender for any increased costs resulting from such change. Borrowers agree that Lender’s determination of such additional amounts and increased costs will be made in Lender’s sole discretion and shall be conclusive absent manifest error.

Appears in 2 contracts

Samples: Loan and Security Agreement (Dreams Inc), Loan and Security Agreement (Dreams Inc)

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Capital Requirements; Increased Costs. If (i) the introduction of, or any change in, or in the interpretation of, any applicable law or (ii) compliance with any guideline or request from any central bank or comparable agency or other governmental authority (whether or not having the force of law), has or would have the effect of reducing the rate of return on the capital of, or has affected or would affect the amount of capital required to be maintained by Lender or any Person controlling Lender as a consequence of, or with reference to, the Revolving Loan Commitment Commitments and other commitments of this type, below the rate which Lender or such other Person could have achieved but for such introduction, change, or compliance, then within five (5) Business Days after Lender’s written demand therefor, Borrowers shall pay Lender from time to time as specified by Lender additional amounts sufficient to compensate Lender or such other Person for such reduction. Lender’s accounting of such amounts submitted in writing to Borrowers Borrower shall be presumed conclusive absent manifest error. If there is any change in the LIBOR Reserve Requirements, then Borrowers shall, from time to time upon demand by Lender, pay to Lender such additional amounts as Lender may deem necessary to compensate Lender for any increased costs resulting from such change. Borrowers agree that Lender’s determination of such additional amounts and increased costs will be made in Lender’s sole discretion and shall be conclusive absent manifest error.

Appears in 1 contract

Samples: Loan and Security Agreement (Autoinfo Inc)

Capital Requirements; Increased Costs. If (i) the introduction of, or any change in, or in the interpretation of, any applicable law or (ii) compliance with any guideline or request from any central bank or comparable agency or other governmental authority (whether or not having the force of law), has or would have the effect of reducing the rate of return on the capital of, or has affected or would affect the amount of capital required to be maintained by Lender or any Person controlling Lender as a consequence of, or with reference to, the Revolving Loan Commitment Commitment, the Term Loan Commitment, and other commitments of this type, below the rate which Lender or such other Person could have achieved but for such introduction, change, or compliance, then within five (5) 5 Business Days after Lender’s written demand therefor, Borrowers Borrower shall pay Lender from time to time as specified by Lender additional amounts sufficient to compensate Lender or such other Person for such reduction. Lender’s accounting of such amounts submitted in writing to Borrowers Borrower shall be presumed conclusive absent manifest error. If there is any change in the LIBOR Reserve Requirements, then Borrowers Borrower shall, from time to time upon demand by Lender, pay to Lender such additional amounts as Lender may deem necessary to compensate Lender for any increased costs resulting from such change. Borrowers agree Borrower agrees that Lender’s determination of such additional amounts and increased costs will be made in Lender’s sole and absolute discretion and shall be conclusive absent manifest error.

Appears in 1 contract

Samples: Loan and Security Agreement (Transcend Services Inc)

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Capital Requirements; Increased Costs. If (i) the introduction of, or any change in, or in the interpretation of, any applicable law or (ii) compliance with any guideline or request from any central bank or comparable agency or other governmental authority Governmental Entity (whether or not having the force of law), has or would have the effect of reducing the rate of return on the capital of, or has affected or would affect the amount of capital required to be maintained by Lender or any Person controlling Lender as a consequence of, or with reference to, the Revolving Loan Commitment and or any other commitments Commitments of this type, below the rate which Lender or such other Person could have achieved but for such introduction, change, or compliance, then within five (5) Business Days after Lender’s written demand thereforfor payment, Borrowers shall pay Lender from time to time as specified by Lender additional amounts sufficient to compensate Lender or such other Person for such reduction. Lender’s accounting of such amounts submitted in writing to Borrowers Borrower Agent shall be presumed conclusive absent manifest error. If there is any change in the LIBOR Reserve Requirements, then Borrowers shall, from time to time upon demand by Lender, pay to Lender such additional amounts as Lender may deem necessary to compensate Lender for any increased costs resulting from such change. Borrowers agree that Lender’s determination of such additional amounts and increased costs will be made in Lender’s sole discretion and shall be conclusive absent manifest error. Without limitation of the foregoing, the Dxxx-Fxxxx Xxxx Street Reform and Consumer Protection Act, and all requests, rules, guidelines and directives thereunder shall be deemed to be a change in applicable law for purposes hereof, regardless of the date enacted, adopted or issued.

Appears in 1 contract

Samples: Loan and Security Agreement (Englobal Corp)

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