Change in Requirements of Law Generally. If, on or after the date hereof, the adoption of any Requirement of Law, or any change in any Requirement of Law, or any change in the interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration thereof, or compliance by any of the Lenders (or its lending office) with any request or directive (whether or not having the force of law) of any such Governmental Authority, shall impose, modify or deem applicable any reserve (including any such requirement imposed by the Board of Governors of the Federal Reserve System), special deposit, contribution, insurance assessment or similar requirement, in each case that becomes effective after the date hereof, against assets of, deposits with or for the account of, or credit extended by, a Lender (or its lending office) or shall impose on a Lender (or its lending office) any other condition affecting the Loans or the Commitment, and the result of any of the foregoing is to increase the cost to such Lender of making or maintaining the Loans, or to reduce the amount of any sum received or receivable by such Lender under this Agreement or any other Loan Document, by an amount deemed by such Lender to be material (other than (i) Indemnified Taxes and (ii) Taxes described in clause (c) or (d) of the definition of “Excluded Taxes”), then the Borrowers shall pay to such Lender on demand such additional amount or amounts as will compensate such Lender for such increased cost or reduction. Borrowers shall not be required to compensate a Lender for any increased cost incurred more than 90 days prior to the date such Lender notifies Borrower of the change giving rise to such increased cost.
Appears in 3 contracts
Samples: Term Loan Agreement (TriVascular Technologies, Inc.), Term Loan Agreement (TriVascular Technologies, Inc.), Term Loan Agreement (TriVascular Technologies, Inc.)
Change in Requirements of Law Generally. If, on or after the date hereof, the adoption of any Requirement of Law, or any change in any Requirement of Law, or any change in the interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration thereof, or compliance by any of the Lenders (or its lending office) with any request or directive (whether or not having the force of law) of any such Governmental Authority, shall impose, modify or deem applicable any reserve (including any such requirement imposed by the Board of Governors of the Federal Reserve System), special deposit, contribution, insurance assessment or similar requirement, in each case that becomes effective after the date hereof, against assets of, deposits with or for the account of, or credit extended by, a Lender (or its lending office) or shall impose on a Lender (or its lending office) any other condition affecting the its Loans or the its Commitment, and the result of any of the foregoing is to increase the cost to such Lender of making or maintaining the its Loans, or to reduce the amount of any sum received or receivable by such Lender under this Agreement or any other Loan Document, by an amount reasonably deemed by such Lender to be material (other than (i) Indemnified Taxes and Taxes, (ii) Taxes described in clause (b), (c) or (d) of the definition of “Excluded Taxes”” and (iii) Connection Income Taxes), then the Borrowers Borrower shall pay to such Lender on demand such additional amount or amounts as will compensate such Lender for such increased cost or reduction. Borrowers Borrower shall not be required to compensate a any Lender for any increased cost or reduction in payment incurred or arising more than 90 180 days prior to the date such Lender notifies Borrower of the change giving rise to such increased costcost or payment reduction provided that such Lender has actual knowledge of such change during such 180 day period.
Appears in 3 contracts
Samples: Term Loan Agreement (Silk Road Medical Inc), Term Loan Agreement (Silk Road Medical Inc), Term Loan Agreement (Silk Road Medical Inc)
Change in Requirements of Law Generally. If, on or after the date hereof, the adoption of any Requirement of Law, or any change in any Requirement of Law, or any change in the interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration thereof, or compliance by any of the Lenders Lender (or its lending office) with any request or directive (whether or not having the force of law) of any such Governmental Authority, shall impose, modify or deem applicable any reserve (including any such requirement imposed by the Board of Governors of the Federal Reserve System), special deposit, contribution, insurance assessment or similar requirement, in each case that becomes effective after the date hereof, against assets of, deposits with or for the account of, or credit extended by, a Lender (or its lending office) or shall impose on a Lender (or its lending office) any other condition affecting the Loans or the Commitment, not as a result of any action or inaction on the part of such Lender, and the result of any of the foregoing is to increase the cost to such any Lender of making or maintaining its portion of the Loans, or to reduce the amount of any sum received or receivable by such any Lender under this Agreement or any other Loan Document, by an amount reasonably deemed by such Lender in good faith to be material (other than (i) Indemnified Taxes and Taxes, (ii) Taxes described in clause clauses (cb) or through (d) of the definition of “Excluded Taxes”” and (iii) Connection Income Taxes), then the Borrowers shall Borrower shall, without duplication, pay to such Lender on demand therefor such additional amount or amounts as will compensate such Lender for such increased cost or reduction. Borrowers shall not be required to compensate a Lender for any increased cost incurred more than 90 days prior Notwithstanding anything herein to the date such Lender notifies Borrower contrary, (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, shall in each case be deemed to constitute a change in Requirements of Law for all purposes of this Section 5.01, regardless of the change giving rise to such increased costdate enacted, adopted or issued.
Appears in 3 contracts
Samples: Credit Agreement and Guaranty (IsoPlexis Corp), Credit Agreement (IsoPlexis Corp), Credit Agreement and Guaranty (IsoPlexis Corp)
Change in Requirements of Law Generally. If, on or after the date hereof, the adoption of any Requirement of Law, or any change in any Requirement of Law, or any change in the interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration thereof, or compliance by any of the Lenders Lender (or its lending office) with any request or directive (whether or not having the force of law) of any such Governmental Authority, shall impose, modify or deem applicable any reserve (including any such requirement imposed by the Board of Governors of the Federal Reserve System), special deposit, contribution, insurance assessment or similar requirement, in each case that becomes effective after the date hereof, against assets of, deposits with or for the account of, or credit extended by, a Lender (or its lending office) or shall impose on a Lender (or its lending office) any other condition affecting the Term Loans or the Commitment, not as a result of any action or inaction on the part of such Lender, and the result of any of the foregoing is to increase the cost to such any Lender of making or maintaining its portion of the Term Loans, or to reduce the amount of any sum received or receivable by such any Lender under this Agreement or any other Loan Document, by an amount reasonably deemed by such Lender in good faith to be material (other than (i) Indemnified Taxes and Taxes, (ii) Taxes described in clause clauses (cb) or through (d) of the definition of “Excluded Taxes”” and (iii) Connection Income Taxes), then the Borrowers Borrower shall promptly pay to such Lender on demand such additional amount or amounts as will compensate such Lender for such increased cost or reduction. Borrowers shall not be required to compensate a Lender for any increased cost incurred more than 90 days prior Notwithstanding anything herein to the date such Lender notifies Borrower contrary, (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, shall in each case be deemed to constitute a change in Requirements of Law for all purposes of this Section 5.01, regardless of the change giving rise to such increased costdate enacted, adopted or issued.
Appears in 3 contracts
Samples: Credit Agreement (C4 Therapeutics, Inc.), Credit Agreement (C4 Therapeutics, Inc.), Credit Agreement (Agile Therapeutics Inc)
Change in Requirements of Law Generally. If, on or after the date hereofClosing Date, the adoption of any Requirement of Law, or any change in any Requirement of Law, or any change in the interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration thereof, or compliance by any of the Lenders (or its their respective lending office) with any request or directive (whether or not having the force of law) of any such Governmental AuthorityAuthority made or issued after the Closing Date, (i) shall impose, modify or deem applicable any reserve (including any such requirement imposed by the Board of Governors of the Federal Reserve System), special deposit, contribution, insurance assessment or similar requirement, in each case that becomes effective after the date hereofClosing Date, against assets of, deposits with or for the account of, or credit extended by, a Lender (or its lending office), (ii) shall subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Excluded Taxes and (C) Connection Income Taxes) on its Loans, loan principal, Commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto, or (iii) shall impose on a Lender (or its lending office) any other condition affecting the its Loans or the Commitmentits Commitments, and the result of any of the foregoing is to increase the cost to such Lender of making or maintaining the its Loans, or to reduce the amount of any sum received or receivable by such Lender under this Agreement or any other Loan Document, by an amount deemed by such Lender to be material (other than (i) Indemnified Taxes and (ii) Taxes described in clause (c) or (d) of the definition of “Excluded Taxes”)material, then the Borrowers Borrower shall pay to such Lender on demand such additional amount or amounts as will compensate such Lender for such increased cost or reduction. Borrowers Borrower shall not be required to compensate a any Lender for any increased cost or reduction in payment incurred or arising more than 90 one hundred eighty (180) days prior to the date such Lender notifies Borrower of the change giving rise to such increased costcost or payment reduction; provided, that, such Lender has actual knowledge of such change during such one hundred eighty (180) day period.
Appears in 2 contracts
Samples: Term Loan Agreement (NeuroPace Inc), Term Loan Agreement (NeuroPace Inc)
Change in Requirements of Law Generally. If, on or after the date hereofOriginal Closing Date, the adoption of any Requirement of Law, or any change in any Requirement of Law, or any change in the interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration thereof, or compliance by any of the Lenders Lender (or its lending office) with any request or directive (whether or not having the force of law) of any such Governmental Authority, shall impose, modify or deem applicable any reserve (including any such requirement imposed by the Board of Governors of the Federal Reserve System), special deposit, contribution, insurance assessment or similar requirement, in each case that becomes effective after the date hereofOriginal Closing Date, against assets of, deposits with or for the account of, or credit extended by, a Lender (or its lending office) or shall impose on a Lender (or its lending office) any other condition affecting the Term Loans or the Commitment, not as a result of any action or inaction on the part of such Lender, and the result of any of the foregoing is to increase the cost to such any Lender of making or maintaining its portion of the Term Loans, or to reduce the amount of any sum received or receivable by such any Lender under this Agreement or any other Loan Document, by an amount reasonably deemed by such Lender in good faith to be material (other than (i) Indemnified Taxes and Taxes, (ii) Taxes described in clause clauses (cb) or through (d) of the definition of “Excluded Taxes”” and (iii) Connection Income Taxes), then the Borrowers shall promptly pay to such Lender on demand such additional amount or amounts as will compensate such Lender for such increased cost or reduction. Borrowers shall not be required to compensate a Lender for any increased cost incurred more than 90 days prior Notwithstanding anything herein to the date such Lender notifies Borrower contrary, (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, shall in each case be deemed to constitute a change in Requirements of Law for all purposes of this Section 5.01, regardless of the change giving rise to such increased costdate enacted, adopted or issued.
Appears in 2 contracts
Samples: Credit Agreement (Trinity Biotech PLC), Credit Agreement (Trinity Biotech PLC)
Change in Requirements of Law Generally. If, on or after the date hereof, the adoption of any Requirement of Law, or any change in any Requirement of Law, or any change in the interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration thereof, or compliance by any of the Lenders (or its lending office) with any request or directive (whether or not having the force of law) of any such Governmental Authority, shall impose, modify or deem applicable any reserve (including any such requirement imposed by the Board of Governors of the Federal Reserve System), special deposit, contribution, insurance assessment or similar requirement, in each case that becomes effective after the date hereof, against assets of, deposits with or for the account of, or credit extended by, a Lender (or its lending office) or shall impose on a Lender (or its lending office) any other condition affecting the Loans or the Commitment, and the result of any of the foregoing is to increase the cost to such Lender of making or maintaining the Loans, or to reduce the amount of any sum received or receivable by such Lender under this Agreement or any other Loan Document, in each case by an amount deemed by such Lender in its reasonable discretion to be material (other than (i) Indemnified Taxes and Taxes, (ii) Taxes described in clause clauses (cb) or through (d) of the definition of “Excluded Taxes”” and (iii) Connection Income Taxes), then Borrower shall, upon written demand from such Lender (which demand shall be accompanied by the Borrowers shall certification referenced in Section 5.01(c)) pay to such Lender on demand such additional amount or amounts as will compensate such Lender for such increased cost or reduction. Borrowers shall not be required to compensate a Lender for any increased cost incurred more than 90 reduction so long as such amounts have accrued on or after the day which is two hundred seventy (270) days prior to the date on which the Administrative Agent or such Lender notifies Borrower of the change giving rise to such increased costLenders first made written demand therefor.
Appears in 2 contracts
Samples: Term Loan Agreement (Biodelivery Sciences International Inc), Term Loan Agreement (Biodelivery Sciences International Inc)
Change in Requirements of Law Generally. If, on or after the date hereof, the adoption of any Requirement of Law, or any change in any Requirement of Law, or any change in the interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration thereof, or compliance by any of the Lenders Lender (or its lending office) with any request or directive (whether or not having the force of law) of any such Governmental Authority, shall impose, modify or deem applicable any reserve (including any such requirement imposed by the Board of Governors of the Federal Reserve System), special deposit, contribution, insurance assessment or similar requirement, in each case that becomes effective after the date hereof, against assets of, deposits with or for the account of, or credit extended by, a Lender (or its lending office) or shall impose on a Lender (or its lending office) any other condition affecting the Loans Term Loan or the Commitment, not as a result of any action or inaction on the part of such Lender, and the result of any of the foregoing is to increase the cost to such any Lender of making or maintaining its portion of the LoansTerm Loan, or to reduce the amount of any sum received or receivable by such any Lender under this Agreement or any other Loan Document, by an amount reasonably deemed by such Lender in good faith to be material (other than (i) Indemnified Taxes and Taxes, (ii) Taxes described in clause clauses (cb) or through (d) of the definition of “Excluded Taxes”” and (iii) Connection Income Taxes), then the Borrowers shall promptly pay to such Lender on demand such additional amount or amounts as will compensate such Lender for such increased cost or reduction. Borrowers shall not be required to compensate a Lender for any increased cost incurred more than 90 days prior Notwithstanding anything herein to the date such Lender notifies Borrower contrary, (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, shall in each case be deemed to constitute a change in Requirements of Law for all purposes of this Section 5.01, regardless of the change giving rise to such increased costdate enacted, adopted or issued.
Appears in 2 contracts
Samples: Credit Agreement and Guaranty (Trinity Biotech PLC), Credit Agreement (Trinity Biotech PLC)
Change in Requirements of Law Generally. If, on or after the date hereof, the adoption of any Requirement of Law, or any change in any Requirement of Law, or any change in the interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration thereof, or compliance by any of the Lenders Lender (or its lending office) with any request or directive (whether or not having the force of law) of any such Governmental Authority, shall impose, modify or deem applicable any reserve (including any such requirement imposed by the Board of Governors of the Federal Reserve System), special deposit, contribution, insurance assessment or similar requirement, in each case that becomes effective after the date hereof, against assets of, deposits with or for the account of, or credit extended by, a Lender (or its lending office) or shall impose on a Lender (or its lending office) any other condition affecting the Loans or the Commitment, not as a result of any action or inaction on the part of such Lender, and the result of any of the foregoing is to increase the cost to such any Lender of making or maintaining the Loansits Loan, or to reduce the amount of any sum received or receivable by such any Lender under this Agreement or any other Loan Document, by an amount reasonably deemed by such Lender in good faith to be material (other than (i) Indemnified Taxes and (ii) Taxes described in clause clauses (cb) or through (d) of the definition of “Excluded Taxes”)), then the Borrowers Borrower shall promptly pay to such Lender on demand such additional amount or amounts as will compensate such Lender for such increased cost or reduction. Borrowers shall not be required to compensate a Lender for any increased cost incurred more than 90 days prior Notwithstanding anything herein to the date such Lender notifies Borrower contrary, (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, shall in each case be deemed to constitute a change in Requirements of Law for all purposes of this Section 5.01, regardless of the change giving rise to such increased costdate enacted, adopted or issued.
Appears in 2 contracts
Samples: Credit Agreement (Zymeworks Inc.), Credit Agreement (Zymeworks Inc.)
Change in Requirements of Law Generally. If, on or after the date hereofhereof (or, with respect to any Lender that becomes a party hereto, such later date on which such Lender comes party to this Agreement), the adoption of any Requirement of Law, or any change in any Requirement of Law, or any change in the interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration thereof, or compliance by any of the Lenders Lender (or its lending office) with any request or directive (whether or not having the force of law) of any such Governmental Authority, shall impose, modify or deem applicable any reserve (including any such requirement imposed by the Board of Governors of the Federal Reserve System), special deposit, contribution, insurance assessment or similar requirement, in each case that becomes effective after the date hereofhereof (or, with respect to any Lender that becomes a party hereto, such later date on which such Lender comes party to this Agreement), against assets of, deposits with or for the account of, or credit extended by, a Lender (or its lending office) or shall impose on a Lender (or its lending office) any other condition affecting the Term Loans or the Commitment, not as a result of any action or inaction on the part of such Lender, and the result of any of the foregoing is to increase the cost to such any Lender of making or maintaining its portion of the Term Loans, or to reduce the amount of any sum received or receivable by such any Lender under this Agreement or any other Loan Document, by an amount reasonably deemed by such Lender in good faith to be material (other than (i) Indemnified Taxes and Taxes, (ii) Taxes described in clause clauses (cb) or through (d) of the definition of “Excluded Taxes”” and (iii) Connection Income Taxes), then the Borrowers Borrower shall promptly pay to such Lender on demand such additional amount or amounts as will compensate such Lender for such increased cost or reduction. Borrowers shall not be required to compensate a Lender for any increased cost incurred more than 90 days prior Notwithstanding anything herein to the date such Lender notifies Borrower contrary, (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, shall in each case be deemed to constitute a change in Requirements of Law for all purposes of this Section 5.01, regardless of the change giving rise to such increased costdate enacted, adopted or issued.
Appears in 2 contracts
Samples: Credit Agreement and Guaranty (Biodesix Inc), Credit Agreement and Guaranty (Biodesix Inc)
Change in Requirements of Law Generally. If, on or after the date hereof, the adoption of any Requirement of Law, or any change in any Requirement of Law, or any change in the interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration thereof, or compliance by any of the Lenders Lender (or its lending office) with any request or directive (whether or not having the force of law) of any such Governmental Authority, shall impose, modify or deem applicable any reserve (including any such requirement imposed by the Board of Governors of the Federal Reserve System), special deposit, contribution, insurance assessment or similar requirement, in each case that becomes effective after the date hereof, against assets of, deposits with or for the account of, or credit extended by, a Lender (or its lending office) or shall impose on a Lender (or its lending office) any other condition affecting the Loans Term Loan or the Commitment, not as a result of any action or inaction on the part of such Lender, and the result of any of the foregoing is to increase the cost to such any Lender of making or maintaining its portion of the LoansTerm Loan, or to reduce the amount of any sum received or receivable by such any Lender under this Agreement or any other Loan Document, by an amount reasonably deemed by such Lender in good faith to be material (other than (i) Indemnified Taxes and Taxes, (ii) Taxes described in clause clauses (cb) or through (d) of the definition of “Excluded Taxes”” and (iii) Connection Income Taxes), then the Borrowers shall promptly pay to such Lender on demand such additional amount or amounts as will compensate such Lender for such increased cost or reduction. Borrowers shall not be required to compensate a Lender for any increased cost incurred more than 90 days prior Notwithstanding anything herein to the date such Lender notifies Borrower contrary, (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, shall in each case be deemed to constitute a change in Requirements of Law for all purposes of this Section 5.01, regardless of the change giving rise to such increased costdate enacted, adopted or issued.
Appears in 1 contract
Samples: Credit Agreement and Guaranty (Trinity Biotech PLC)
Change in Requirements of Law Generally. If, on or after the date hereofClosing Date, the adoption of any Requirement of Law, or any change in any Requirement of Law, or any change in the interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration thereof, or compliance by any of the Lenders (or its lending office) with any request or directive (whether or not having the force of law) of any such Governmental Authority, shall impose, modify or deem applicable any reserve (including any such requirement imposed by the Board of Governors of the Federal Reserve System), special deposit, contribution, insurance assessment or similar requirement, in each case that becomes effective after the date hereofClosing Date, against assets of, deposits with or for the account of, or credit extended by, a Lender (or its lending office) or shall impose on a Lender (or its lending office) any other condition affecting the its Loans or the its Commitment, and the result of any of the foregoing is to increase the cost to such Lender of making or maintaining the its Loans, or to reduce the amount of any sum received or receivable by such Lender under this Agreement or any other Loan Document, by an amount deemed by such Lender to be material (other than (i) Indemnified Taxes and Taxes, (ii) Taxes described in clause clauses (cb) or through (d) of the definition of “Excluded Taxes”” and (iii) Connection Income Taxes), then the Borrowers Borrower shall pay to such Lender on within ten (10) Business Days of demand such additional amount or amounts as will compensate such Lender for such increased cost or reduction. Borrowers shall not be required to compensate a Lender for any increased cost incurred more than 90 days prior Notwithstanding anything to the date contrary in this Section 5.01(a), it shall be a condition to a Lender’s exercise of its rights, if any, under this Section 5.01(a) that such Lender notifies Borrower of the change giving rise shall generally exercise similar rights with respect to such increased costborrowers under similar agreements.
Appears in 1 contract
Samples: Term Loan Agreement (EyePoint Pharmaceuticals, Inc.)
Change in Requirements of Law Generally. If, on or after the date hereof, the adoption of any Requirement of Law, or any change in any Requirement of Law, or any change in the interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration thereof, or compliance by any of the Lenders (or its lending office) with any request or directive (whether or not having the force of law) of any such Governmental Authority, shall impose, modify or deem applicable any reserve (including any such requirement imposed by the Board of Governors of the Federal Reserve System), special deposit, contribution, insurance assessment or similar requirement, in each case that becomes effective after the date hereof, against assets of, deposits with or for the account of, or credit extended by, a Lender (or its lending office) or shall impose on a Lender (or its lending office) any other condition affecting the Loans or the Commitment, and the result of any of the foregoing is to increase the cost to such Lender of making or maintaining the Loans, or to reduce the amount of any sum received or receivable by such Lender under this Agreement or any other Loan Document, by an amount deemed by such Lender to be material (other than (i) Indemnified Taxes and Taxes, (ii) Taxes described in clause clauses (cb) or through (d) of the definition of “Excluded Taxes”” and (iii) Connection Income Taxes), then the Borrowers Borrower shall pay to such Lender on within [***] days of demand such additional amount or amounts as will compensate such Lender for such increased cost or reduction. Borrowers shall not be required to compensate a Lender for any increased cost incurred more than 90 days prior [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the date such Lender notifies Borrower of the change giving rise to such increased costomitted portions.
Appears in 1 contract
Change in Requirements of Law Generally. If, on or after the date hereof, the adoption of any Requirement of Law, or any change in any Requirement of Law, or any change in the interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration thereof, or compliance by any of the Lenders Lender (or its lending office) with any request or directive (whether or not having the force of law) of any such Governmental Authority, shall impose, modify or deem applicable any reserve (including any such requirement imposed by the Board of Governors of the Federal Reserve System), special deposit, contribution, insurance assessment or similar requirement, in each case that becomes effective after the date hereof, against assets of, deposits with or for the account of, or credit extended by, a Lender (or its lending office) or shall impose on a Lender (or its lending office) any other condition affecting the Loans or the Commitment, not as a result of any action or inaction on the part of such Lender, and the result of any of the foregoing is to increase the cost to such any Lender of making or maintaining the Loansits Loan, or to reduce the amount of any sum received or receivable by such any Lender under this Agreement or any other Loan Document, by an amount reasonably deemed by such Lender in good faith to be material (other than (i) Indemnified Taxes and (ii) Taxes described in clause (c) or (d) of the definition of “Excluded Taxes”), then the Borrowers Borrower shall promptly pay to such Lender on demand such additional amount or amounts as will compensate such Lender for such increased cost or reduction. Borrowers shall not be required to compensate a Lender for any increased cost incurred more than 90 days prior Notwithstanding anything herein to the date such Lender notifies Borrower contrary, (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, shall in each case be deemed to constitute a change in Requirements of Law for all purposes of this Section 5.01, regardless of the change giving rise to such increased costdate enacted, adopted or issued.
Appears in 1 contract
Change in Requirements of Law Generally. If, on or after the date hereof, the adoption of any Requirement of Law, or any change in any Requirement of Law, or any change in the interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration thereof, or compliance by any of the Lenders Lender (or its lending office) with any request or directive (whether or not having the force of law) of any such Governmental Authority, shall impose, modify or deem applicable any reserve (including any such requirement imposed by the Board of Governors of the Federal Reserve System), special deposit, contribution, insurance assessment or similar requirement, in each case that becomes effective after the date hereof, against assets of, deposits with or for the account of, or credit extended by, a Lender (or its lending office) or shall impose on a Lender (or its lending office) #98195096v26 any other condition affecting the Term Loans or the CommitmentCommitments, not as a result of any action or inaction on the part of such Lender, and the result of any of the foregoing is to increase the cost to such any Lender of making or maintaining its portion of the Term Loans, or to reduce the amount of any sum received or receivable by such any Lender under this Agreement or any other Loan Document, by an amount reasonably deemed by such Lender in good faith to be material (other than (i) Indemnified Taxes and Taxes, (ii) Taxes described in clause clauses (cb) or through (d) of the definition of “Excluded Taxes”)” and (iii) Connection Income Taxes, then the Borrowers Obligors shall promptly pay to such Lender on demand such additional amount or amounts as will compensate such Lender for such increased cost or reduction. Borrowers shall not be required to compensate a Lender for any increased cost incurred more than 90 days prior Notwithstanding anything herein to the date such Lender notifies Borrower contrary, (x) the Xxxx Xxxxx Wall 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 constitute a change in Requirements of Law for all purposes of this Section 5.01, regardless of the change giving rise to such increased costdate enacted, adopted or issued.
Appears in 1 contract
Change in Requirements of Law Generally. If, on or after the date hereof, the adoption of any Requirement of Law, or any change in any Requirement of Law, or any change in the interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration thereof, or compliance by any of the Lenders (or its lending office) with any request or directive (whether or not having the force of law) of any such Governmental Authority, shall impose, modify or deem applicable any reserve (including any such requirement imposed by the Board of Governors of the Federal Reserve System), special deposit, contribution, insurance assessment or similar requirement, in each case that becomes effective after the date hereof, against assets of, deposits with or for the account of, or credit extended by, a Lender (or its lending office) or shall impose on a Lender (or its lending office) any other condition affecting the Loans or the Commitment, and the result of any of the foregoing is to increase the cost to such Lender of making or maintaining the Loans, or to reduce the amount of any sum received or receivable by such Lender under this Agreement or any other Loan Document, by an amount deemed by such Lender to be material (other than (i) Indemnified Taxes and (ii) Taxes described in clause (ciii) or (div) of the definition of “Excluded Taxes”), then the Borrowers then, within five (5) Business Days of Borrower’s receipt of written notice described in Section 5.01(b) below, Borrower shall pay to such Lender on demand such additional amount or amounts as will compensate such Lender for such increased cost or reduction. Borrowers shall not be required to compensate a Lender for any increased cost incurred more than 90 days prior to ; provided that if such additional amount or amounts exceeds $250,000 in the date such Lender notifies aggregate, Borrower (at its option) may defer payment of the change giving rise to additional amount or amounts in excess of $250,000 until a day not later than the thirtieth (30th) day following Borrower’s receipt of such increased costwritten notice from a Lender.
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Change in Requirements of Law Generally. If, on or after the date hereofhereof (or, with respect to any Lender that becomes a party hereto, such later date on which such Lender comes party to this Agreement), the adoption of any Requirement of Law, or any change in any Requirement of Law, or any change in the interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration thereof, or compliance by any of the Lenders Lender (or its lending office) with any request or directive (whether or not having the force of law) of any such Governmental Authority, shall impose, modify or deem applicable any reserve (including any such requirement imposed by the Board of Governors of the Federal Reserve System), special deposit, contribution, insurance assessment or similar requirement, in each case that becomes effective after the date hereofhereof (or, with respect to any Lender that becomes a party hereto, such later date on which such Lender comes party to this Agreement), against assets of, deposits with or for the account of, or credit extended by, a Lender (or its lending office) or shall impose on a Lender (or its lending office) any other condition affecting the Term Loans or the CommitmentCommitments, not as a result of any action or inaction on the part of such Lender, and the result of any of the foregoing is to increase the cost to such any Lender of making or maintaining its portion of the Term Loans, or to reduce the amount of any sum received or receivable by such any Lender under this Agreement or any other Loan Document, by an amount reasonably deemed by such Lender in good faith to be material (other than (i) Indemnified Taxes and Taxes, (ii) Taxes described in clause clauses (cb) or through (d) of the definition of “Excluded Taxes”” and (iii) Connection Income Taxes), then the Borrowers Obligors shall promptly pay to such Lender on demand such additional amount or amounts as will compensate such Lender for such increased cost or reduction. Borrowers shall not be required to compensate a Lender for any increased cost incurred more than 90 days prior Notwithstanding anything herein to the date such Lender notifies Borrower contrary, (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, shall in each case be deemed to constitute a change in Requirements of Law for all purposes of this Section 5.01, regardless of the change giving rise to such increased costdate enacted, adopted or issued.
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Samples: Credit Agreement and Guaranty (GeneDx Holdings Corp.)
Change in Requirements of Law Generally. If, on or after the date hereof, the adoption of any Requirement of Law, or any change in any Requirement of Law, or any change in the interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration thereof, or compliance by any of the Lenders (or its lending office) with any request or directive (whether or not having the force of law) of any such Governmental Authority, shall impose, modify or deem applicable any reserve (including any such requirement imposed by the Board of Governors of the Federal Reserve [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. System), special deposit, contribution, insurance assessment or similar requirement, in each case that becomes effective after the date hereof, against assets of, deposits with or for the account of, or credit extended by, a Lender (or its lending office) or shall impose on a Lender (or its lending office) any other condition affecting the Loans or the Commitment, and the result of any of the foregoing is to increase the cost to such Lender of making or maintaining the Loans, or to reduce the amount of any sum received or receivable by such Lender under this Agreement or any other Loan Document, by an amount deemed by such Lender to be material (other than (i) Indemnified Taxes and Taxes, (ii) Taxes described in clause clauses (c) or through (de) of the definition of “Excluded Taxes”,” and (iii) Connection Income Taxes), then the Borrowers Borrower shall pay to such Lender on demand such additional amount or amounts as will compensate such Lender for such increased cost or reduction. Borrowers shall not be required to compensate a Lender for any increased cost incurred more than 90 days prior to the date such Lender notifies Borrower of the change giving rise to such increased cost.
Appears in 1 contract
Samples: Term Loan Agreement
Change in Requirements of Law Generally. If, on or after the date hereof, the adoption of any Requirement of Law, or any change in any Requirement of Law, or any change in the interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration thereof, or compliance by any of the Lenders Lender (or its lending office) with any request or directive (whether or not having the force of law) of any such Governmental Authority, shall impose, modify or deem applicable any reserve (including any such requirement imposed by the Board of Governors of the Federal Reserve System), special deposit, contribution, insurance assessment or similar requirement, in each case that becomes effective after the date hereof, against assets of, deposits with or for the account of, or credit extended by, a Lender (or its lending office) or shall impose on a Lender (or its lending office) any other condition affecting the Loans Term Loan or the Commitment, not as a result of any action or inaction on the part of such Lender, and the result of any of the foregoing is to increase the cost to such any Lender of making or maintaining its portion of the LoansTerm Loan, or to reduce the amount of any sum received or receivable by such any Lender under this Agreement or any other Loan Document, by an amount reasonably deemed by such Lender in good faith to be material (other than (i) Indemnified Taxes and Taxes, (ii) Taxes described in clause clauses (cb) or through (d) of the definition of “Excluded Taxes”” and (iii) Connection Income Taxes), then the Borrowers Borrower shall promptly pay to such Lender on demand such additional amount or amounts as will compensate such Lender for such increased cost or reduction. Borrowers shall not be required to compensate a Lender for any increased cost incurred more than 90 days prior Notwithstanding anything herein to the date such Lender notifies Borrower contrary, (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, shall in each case be deemed to constitute a change in Requirements of Law for all purposes of this Section 5.01, regardless of the change giving rise to such increased costdate enacted, adopted or issued.
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Change in Requirements of Law Generally. If, on or after the date hereofhereof (or, with respect to any Lender that becomes a party hereto, such later date on which such Lender comes party to this Agreement), the adoption of any Requirement of Law, or any change in any Requirement of Law, or any change in the interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration thereof, or compliance by any of the Lenders Lender (or its lending office) with any request or directive (whether or not having the force of law) of any such Governmental Authority, ‑43‑ shall impose, modify or deem applicable any reserve (including any such requirement imposed by the Board of Governors of the Federal Reserve System), special deposit, contribution, insurance assessment or similar requirement, in each case that becomes effective after the date hereofhereof (or, with respect to any Lender that becomes a party hereto, such later date on which such Lender comes party to this Agreement), against assets of, deposits with or for the account of, or credit extended by, a Lender (or its lending office) or shall impose on a Lender (or its lending office) any other condition affecting the Term Loans or the Commitment, not as a result of any action or inaction on the part of such Lender, and the result of any of the foregoing is to increase the cost to such any Lender of making or maintaining its portion of the Term Loans, or to reduce the amount of any sum received or receivable by such any Lender under this Agreement or any other Loan Document, by an amount reasonably deemed by such Lender in good faith to be material (other than (i) Indemnified Taxes and Taxes, (ii) Taxes described in clause clauses (cb) or through (d) of the definition of “Excluded Taxes”” and (iii) Connection Income Taxes), then the Borrowers Borrower shall promptly pay to such Lender on demand such additional amount or amounts as will compensate such Lender for such increased cost or reduction. Borrowers shall not be required to compensate a Lender for any increased cost incurred more than 90 days prior Notwithstanding anything herein to the date such Lender notifies Borrower contrary, (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, shall in each case be deemed to constitute a change in Requirements of Law for all purposes of this Section 5.01, regardless of the change giving rise to such increased costdate enacted, adopted or issued.
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Change in Requirements of Law Generally. If, on or after the date hereof, the adoption of any Requirement of Law, or any change in any Requirement of Law, or any change in the interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration thereof, or compliance by any of the Lenders (or its lending office) with any request or directive (whether or not having the force of law) of any such Governmental Authority, shall impose, modify or deem applicable any reserve (including any such requirement imposed by the Board of Governors of the Federal Reserve System), special deposit, contribution, insurance assessment or similar requirement, in each case that becomes effective after the date hereof, against assets of, deposits with or for the account of, or credit extended by, a Lender (or its lending office) or shall impose on a Lender (or its lending office) any other condition affecting the its Loans or the its Commitment, and the result of any of the foregoing is to increase the cost to such Lender of making or maintaining the its Loans, or to reduce the amount of any sum received or receivable by such Lender under this Agreement or any other Loan Document, by an amount reasonably deemed by such Lender to be material (other than (i) Indemnified Taxes and Taxes, (ii) Taxes described in clause (b), (c) or (d) of the definition of “Excluded Taxes”” and (iii) Connection Income Taxes), then the Borrowers Borrower shall pay to such Lender on demand such additional amount or amounts as will compensate such Lender for such increased cost or reduction. Borrowers Borrower shall not be required to compensate a any Lender for any increased cost or reduction in payment incurred or arising more than 90 180 days prior to the date such Lender notifies Borrower of the change giving rise to such increased costcost or payment reduction, provided that such Lender has actual knowledge of such change during such 180 day period.
Appears in 1 contract
Samples: Term Loan Agreement (Avinger Inc)
Change in Requirements of Law Generally. If, on or after the date hereofClosing Date, the adoption of any Requirement of Law, or any change in any Requirement of Law, or any change in the interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration thereof, or compliance by any of the Lenders (or its lending office) with any request or directive (whether or not having the force of law) of any such Governmental Authority, shall impose, modify or deem applicable any reserve (including any such requirement imposed by the Board of Governors of the Federal Reserve System), special deposit, contribution, insurance assessment or similar requirement, in each case that becomes effective after the date hereofClosing Date, against assets of, deposits with or for the account of, or credit extended by, a Lender (or its lending office) or shall impose on a Lender (or its lending office) any other condition affecting the Loans or the Commitment, and the result of any of the foregoing is to increase the cost to such Lender of making or maintaining the Loans, or to reduce the amount of any sum received or receivable by such Lender under this Agreement or any other Loan Document, by an amount deemed by such Lender to be material (other than (i) Indemnified Taxes and Taxes, (ii) Taxes described in clause clauses (cb) or through (d) of the definition of “Excluded Taxes”” and (iii) Connection Income Taxes), then the Borrowers Borrower shall pay to such Lender on within ten (10) days after written demand therefor such additional amount or amounts as will compensate such Lender for such increased cost or reduction. Borrowers shall not be required to compensate a Lender for any increased cost incurred more than 90 , so long as such amounts have accrued on or after the day that is 180 days prior to the date on which such Lender notifies Borrower of first made demand therefor; provided that, if the change event giving rise to such increased costcost or reduction has retroactive effect, then such 180-day period shall be extended to include the period of retroactive effect.
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Change in Requirements of Law Generally. If, on or after the date hereof, the adoption of any Requirement of Law, or any change in any Requirement of Law, or any change in the interpretation or administration thereof by any court or other Governmental Authority charged with the interpretation or administration thereof, or compliance by any of the Lenders (or its lending office) with any request or directive (whether or not having the force of law) of any such Governmental Authority, shall impose, modify or deem applicable any reserve (including any such requirement imposed by the Board of Governors of the Federal Reserve System), special deposit, contribution, insurance assessment or similar requirement, in each case that becomes effective after the date hereof, against assets of, deposits with or for the account of, or credit extended by, a Lender (or its lending office) or shall impose on a Lender (or its lending office) any other condition affecting the Loans or the Commitment, and the result of any of the foregoing is to increase the cost from what such cost would have been on the date hereof to such Lender of making or maintaining the Loans, or to reduce the amount of any sum received or receivable by such Lender under this Agreement or any other Loan Document, by an amount deemed by such Lender to be material (other than (i) Indemnified Taxes and Taxes, (ii) Taxes described in clause clauses (c) or through (de) of the definition of “Excluded Taxes”), and (iii) Connection Income Taxes) then the Borrowers Borrower shall pay to such Lender on reasonable demand such additional amount or amounts as will compensate such Lender for such increased cost or reduction. Borrowers ; provided that Borrower shall not only be required to compensate a Lender for any increased cost incurred more than 90 days prior to the date pay such amounts if such Lender notifies Borrower demands such amounts from all other borrowers of the change giving rise such Lender determined by such Lender in its sole reasonable discretion to such increased costbe similarly situated as Borrower.
Appears in 1 contract
Samples: Term Loan Agreement (Nevro Corp)