Change in Law, Compensation Sample Clauses

Change in Law, Compensation. If a Change in Law shall occur, Operator shall submit an analysis of its incremental cost resulting from such Change in Law. If the RECEIVER/TRUSTEE finds the incremental cost submitted by the Operator to be reasonable, additional compensation in the amount of the incremental cost shall be paid to the Operator. If the RECEIVER/TRUSTEETRUSTEE does not find the incremental cost submitted by the Operator to be reasonable, the RECEIVER/TRUSTEE shall pay the Operator that portion of the incremental cost determined to be reasonable by the RECEIVER/TRUSTEE and the disputed amount of incremental cost shall be subject to dispute resolution in accordance with Section 16.11.
Sample 1
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Change in Law, Compensation. (1) If any change in any law, regulation, guideline or directive (whether or not having the force of law) or in the interpretation thereof by any court or administrative or governmental authority charged with the administration thereof shall either (1) impose, modify or deem applicable any reserve, special deposit or similar requirement against letters of credit issued by the Bank or the L/C Bank, or any advance or forbearance in respect of the reimbursement obligations of the Company under this Agreement (an "Advance") or (2) impose on the Bank or the L/C Bank any other condition regarding this Agreement, the Letter of Credit and the result of any event referred to in clause (1) or (2) above shall be to increase the cost to the Bank or L/C Bank of issuing or maintaining the Letter of Credit (which increase in cost shall be the reasonable allocation of the aggregate of such cost increases resulting from such events), then, upon demand by the Bank, the Company shall immediately pay to the Bank or the L/C Bank from time to time as specified by such party, additional amounts which shall be sufficient to compensate such party for such increased cost from the date of such change, together with interest on each such amount from the date demanded until payment in full thereof at the rate provided in clause (ii) of paragraph (a) above. A certificate setting forth in reasonable detail such increased cost incurred by any such party as a result of any event mentioned in clause (1) or (2) above, submitted by such party to the Company, shall be conclusive, absent manifest error, as to the amount thereof.
Sample 1
Change in Law, Compensation i) If any change in any law, regulation, guideline or directive (whether or not having the force of law) or in the interpretation thereof by any court or administrative or governmental authority charged with the administration thereof shall either (1) impose, modify or deem applicable any reserve, special deposit or similar requirement against letters of credit issued by Administrative Agent or any advance or forbearance in respect of the reimbursement obligations of Borrower under this Agreement (an "Advance") (2) reduce the amount of any payment to be received by Administrative Agent under this Agreement or, (3) impose on Administrative Agent any other condition regarding this Agreement, the Letter of Credit or an Advance, and the result of any event referred to in clauses (1), (2) or (3) above shall be to increase the cost to Administrative Agent of issuing or maintaining the Letter of Credit or any Advance (which increase in cost shall be the result of Administrative Agent's reasonable allocation of the aggregate of such cost increases resulting from such events) or reduce the amount to be received by Administrative Agent under this Agreement, then, from time to time as specified by Administrative Agent, upon demand by Administrative Agent, Borrower shall pay to Administrative Agent within five Business Days after receipt of written demand for payment such additional amounts which shall be sufficient to compensate Administrative Agent for such increased cost or reduction of amount received from the date of such change, together with interest on each such amount from the due date until payment in full thereof at the rate provided in clause (ii) of paragraph (a) above. Administrative Agent shall submit to Borrower, at or prior to the making of each such demand, a certificate setting forth in reasonable detail such increased cost incurred or reduction of amount received by Administrative Agent as a result of any event mentioned in clauses (1), (2) or (3) above and the basis therefor, which certificate shall be presumed to be correct as to the amount and the basis thereof.
Sample 1

Related to Change in Law, Compensation

  • Change in Laws If at any time any new law or any change in existing laws or in the interpretation of any new or existing laws shall make it unlawful for any Bank to make or continue to maintain or fund LIBOR Loans hereunder, then such Bank shall promptly notify Borrowers in writing and such Bank's obligation to make, continue or convert Loans into LIBOR Loans under this Agreement shall be suspended until it is no longer unlawful for such Bank to make or maintain LIBOR Loans. Upon receipt of such notice, Borrowers shall either repay the outstanding LIBOR Loans owed to the Banks, without penalty, on the last day of the current Interest Periods (or, if any Bank may not lawfully continue to maintain and fund such LIBOR Loans, immediately), or Borrowers may convert such LIBOR Loans at such appropriate time to Prime Rate Loans.

  • Change in Law If any Change in Law shall:

  • No Change in Law There shall not have been any action, or any statute enacted, by any government or agency thereof which would in any material respect prohibit or render the parties unable to consummate the transactions contemplated hereby or make the transactions contemplated hereby illegal.

  • CHANGE IN CIRCUMSTANCES; COMPENSATION SECTION 8.01. Basis for Determining Interest Rate Inadequate or Unfair. If on or prior to the first day of any Interest Period:

  • Change in Compensation If the Board decides to increase the Chief Compliance Officer’s compensation or provide a bonus to the Chief Compliance Officer, then the fees paid to NLCS by the Trust will increase proportionately for any amounts it deems due to the Chief Compliance Officer above the amounts due to NLCS under this Agreement.

  • Additional Compensation Notwithstanding anything in this Memorandum of Understanding to the contrary when in the judgment of the Board, it becomes necessary or desirable to utilize the services of County employees in capacities other than those for which they are regularly employed, the Board may authorize and, if appropriate, fix an additional rate of compensation for such employees.

  • Change in Legality (a) Notwithstanding any other provision of this Agreement, if any Change in Law shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written notice to the Borrower and to the Administrative Agent:

  • No Additional Compensation Notwithstanding any other provision of this Agreement, the obligation of Agency to return Referred Accounts, provide current status reports of all such accounts or information reasonably required by Client shall be without right to any additional Contingent Fee, administrative fees or other compensation of any kind or type whatsoever after such termination date, including, without limitation, in quantum meruit, for any Services rendered prior to termination (except on recoveries received and remitted to Client pursuant to this Agreement prior to termination) whether or not said Services result in or contribute to recoveries received after termination.

  • Change in Location Notify FINOVA in writing forty-five (45) days prior to any change in the location of Borrower's chief executive office or the location of any Collateral, or Borrower's opening or closing of any other place of business;

  • Basic Compensation (a) SALARY. Executive will be paid an annual base salary of $115,000.00, subject to adjustment as provided below (the "Salary"), which will be payable in equal periodic installments according to Employer's customary payroll practices, but no less frequently than monthly. The Salary will be reviewed by the Board of Directors not less frequently than annually, and shall be increased on each anniversary of the Effective Date during the term hereof by an amount equal to not less than ten percent (10%) of the prior year's base salary.

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