Change in Reserve Requirement Sample Clauses

Change in Reserve Requirement. If under applicable law or regulation, the holder of any Note is required to post reserves at any time and from time to time with respect to such Notes (the "Reserve Requirement") greater than one percent (1%) of the outstanding principal amounts of such Notes held by said holder (an "Increased Requirement") other than solely by reason of a change in law or regulation or a change in the interpretation or administration thereof relating to the requirements to post such reserves, then the interest rate on such Notes shall be increased by 1.25% per annum minus the amount, if any, that the interest rate on such Notes has been increased pursuant to Section 1.2(a). If during any time following an increase in the interest rate on the Notes pursuant to this Section 1.2(b), the Reserve Requirement is reduced to one percent (1%) or less of the outstanding principal balance of the Notes (a "Decreased Requirement"), the interest rate on the Notes shall be readjusted (but without prejudice to any adjustment required by Section 1.2(a)) to the rate per annum which would have been in effect had no adjustment been made pursuant to this Section 1.2(b). Any upward or downward adjustment required by this Section 1.2(b) in the rate of interest borne by the Notes shall become effective concurrently with the effectiveness of any Increased Requirement or Decreased Requirement, as the case may be. In no event may the expressed interest rate on the Notes be increased by more than 1.25% per annum pursuant to clauses (a) and (b) during any period in which no Event of Default exists.
Sample 1
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Change in Reserve Requirement. (i) If on any date under applicable insurance regulations any Lender would be required to post reserves (the “Reserve Requirement”) with respect to a Credit Linked Note or any Borrowing greater than the Reserve Requirement in effect immediately prior to the Second Amendment Effective Date, then from and including such date to and until the Applicable Rate Reset Date, if any, and regardless of whether the applicable Reserve Requirement changed for all of the Lenders, the Applicable Rates (or Adjustment Period Applicable Rates, as the case may be) set forth in Schedule B to the Agreements shall be increased by 1% per annum. If an Applicable Rate Reset Date shall have occurred and thereafter the Reserve Requirement shall once again increase as provided in this paragraph (e), the Applicable Rates shall again be increased as provided in this paragraph (e).
Sample 1
Change in Reserve Requirement. (a) If on any date under applicable insurance regulations any holder of a Note is required to post reserves with respect to the Notes (the “Reserve Requirement”) greater than the Reserve Requirement in effect immediately prior to the date of the Closing, then from and including such date to and until the Interest Reset Date, the interest rate on the Notes shall be adjusted as follows: the then Applicable Interest Rate on the Notes shall be increased by 50 basis points.
Sample 1
Change in Reserve Requirement. (i) If on any date (the “Increased Reserve Trigger Date”) under applicable insurance regulations any holder of Notes would be required to post reserves (the “Reserve Requirement”) in respect of a Note greater than the Reserve Requirement in effect on January 1, 2009 (the “Existing Reserve Requirement”) and the increase in the Reserve Requirement is not (x) the result of changes of general application imposed by the applicable insurance regulators or (y) the result of changes specifically applicable to such holder of Notes except as a result of the financial condition or performance of Parent Newco or the Company (the “Increased Reserve Requirement”), then from and including such date to and until the Applicable Rate Reset Date, if any, and regardless of whether the applicable Increased Reserve Requirement applies to all holders of the Notes, the then applicable rate of interest on the Notes shall be increased by 1.00% per annum (the “Reserve Rate Increase”); provided that the Company shall not be obligated to pay the Reserve Rate Increase accrued on the Notes for any period longer than 90 days prior to the date it receives notice (whether from a holder of Notes or otherwise) of an Increased Reserve Requirement. For the avoidance of doubt, the Reserve Rate Increase shall not at any time exceed 1.00%. The Reserve Rate Increase shall be in addition to (1) the rate of interest then applicable to the Notes pursuant to Section 1.3(a), (2) the Deficiency Rate Increase, if any, then applicable to the Notes pursuant to Section 1.3(c) and (3) the 2.00% per annum increase contemplated in clause (i) of the definition of “Default Rate” if then applicable to the Notes. Further for the avoidance of doubt, if an Applicable Rate Reset Date has occurred and thereafter an Increased Reserve Requirement occurs, the Reserve Rate Increase shall again be effective as provided in this Section.
Sample 1

Related to Change in Reserve Requirement

  • Reserve Requirements A. If the Reinsurer is unauthorized in any state of the United States of America or the District of Columbia, the Reinsurer agrees to fund its share of the Company's ceded United States unearned premium and outstanding loss and loss adjustment expense reserves (including all case reserves plus any reasonable amount estimated to be unreported from known loss occurrences) by:

  • Additional Reserve Requirements The Company shall pay (or cause the applicable Designated Borrower to pay) to each Lender, (i) as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurocurrency Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), and (ii) as long as such Lender shall be required to comply with any reserve ratio requirement or analogous requirement of any other central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of the Eurocurrency Rate Loans, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which in each case shall be due and payable on each date on which interest is payable on such Loan, provided the Company shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest or costs from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest or costs shall be due and payable 10 days from receipt of such notice.

  • Increased Cost and Reduced Return; Capital Adequacy; Reserves on Eurodollar Rate Loans (a) If any Lender determines that as a result of the introduction of or any change in or in the interpretation of any Law, or such Lender’s compliance therewith, there shall be any increase in the cost to such Lender of agreeing to make or making, funding or maintaining Eurodollar Rate Loans or (as the case may be) issuing or participating in Letters of Credit, or a reduction in the amount received or receivable by such Lender in connection with any of the foregoing (excluding for purposes of this subsection (a) any such increased costs or reduction in amount resulting from (i) Taxes or Other Taxes (as to which Section 3.01 shall govern), (ii) changes in the basis of taxation of overall net income or overall gross income by the United States or any foreign jurisdiction or any political subdivision of either thereof under the Laws of which such Lender is organized or has its Lending Office, and (iii) reserve requirements contemplated by Section 3.04(c)), then from time to time upon demand of such Lender (with a copy of such demand to the Administrative Agent), the Borrower shall pay to such Lender such additional amounts as will compensate such Lender for such increased cost or reduction.

  • Increased Cost and Reduced Return; Capital Adequacy; Reserves on Eurocurrency Rate Loans (a) If any Lender determines that as a result of any Change in Law (including with respect to Taxes), or such Lender’s compliance therewith, there shall be any increase in the cost to such Lender of agreeing to make or making, funding or maintaining any Loan or issuing or participating in Letters of Credit, or a reduction in the amount received or receivable by such Lender in connection with any of the foregoing (excluding for purposes of this Section 3.03(a) any such increased costs or reduction in amount resulting from (i) Indemnified Taxes indemnifiable under Section 3.01, (ii) Excluded Taxes described in clauses (b) through (e) of the definition of “Excluded Taxes,” (iii) Excluded Taxes described in clause (a) of the definition of “Excluded Taxes” to the extent such Taxes are imposed on or measured by such Lender’s net income or profits (or are franchise Taxes imposed in lieu thereof) or (iv) reserve requirements contemplated by Section 3.03(c)), then from time to time within fifteen (15) days after demand by such Lender setting forth in reasonable detail such increased costs (with a copy of such demand to the Administrative Agent given in accordance with Section 3.05), the Borrower shall pay to such Lender such additional amounts as will compensate such Lender for such increased cost or reduction; provided that in the case of any Change in Law only applicable as a result of the proviso set forth in the definition thereof, such Lender will only be compensated for such amounts that would have otherwise been imposed under the applicable increased cost provisions and only to the extent the applicable Lender is imposing such charges on other generally similarly situated borrowers (but not necessarily all such borrowers) under comparable syndicated credit facilities.

  • Reserve Requirements; Change in Circumstances (a) Notwithstanding any other provision herein, if after the date of this Agreement any change in applicable law or regulation or in the interpretation or administration thereof by any Governmental Authority charged with the interpretation or administration thereof (whether or not having the force of law) shall change the basis of taxation of payments to any Lender of the principal of or interest on any Eurodollar Loan made by such Lender or any fees or other amounts payable hereunder (other than changes in respect of Taxes, Other Taxes and taxes imposed on, or measured by, the net income or overall gross receipts or franchise taxes of such Lender by the jurisdiction in which such Lender has its principal office or in which the applicable lending office for such Eurodollar Loan is located or by any political subdivision or taxing authority therein, or by any other jurisdiction or by any political subdivision or taxing authority therein other than a jurisdiction in which such Lender would not be subject to tax but for the execution and performance of this Agreement), or shall impose, modify or deem applicable any reserve, special deposit or similar requirement against assets of, deposits with or for the account of or credit extended by such Lender (except any such reserve requirement which is reflected in the Adjusted LIBOR Rate) or shall impose on such Lender or the London interbank market any other condition affecting this Agreement or the Eurodollar Loans made by such Lender, and the result of any of the foregoing shall be to increase the cost to such Lender of making or maintaining any Eurodollar Loan or to reduce the amount of any sum received or receivable by such Lender hereunder (whether of principal, interest or otherwise) by an amount deemed by such Lender to be material, then the Borrowers will pay to such Lender in accordance with paragraph (c) below such additional amount or amounts as will compensate such Lender for such additional costs incurred or reduction suffered.

  • Determination of Borrowing Base The Borrowing Base at any time shall be determined by reference to the most recent Borrowing Base Certificate and Monthly Servicing Report delivered to the Administrative Agent.

  • Increased Costs Reserves on Eurodollar Rate Loans (a) Increased Costs Generally. If any Change in Law shall:

  • Calculation of Borrowing Base For purposes of this Agreement, the “Borrowing Base” shall be determined, as at any date of determination, as the sum of the products obtained by multiplying (x) the Value of each Eligible Portfolio Investment by (y) the applicable Advance Rate; provided that:

  • Borrowing Base Redetermination Pursuant to Section 2.07, the Administrative Agent and the Lenders agree that for the period from and including the First Amendment Effective Date to but excluding the next Redetermination Date, the amount of the Borrowing Base shall be equal to $450,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to Section 2.07(e), Section 2.07(f) or Section 8.12(c). For the avoidance of doubt, the redetermination herein shall constitute the April 1, 2017 Scheduled Redetermination and the next Scheduled Redetermination shall be the October 1, 2017 Scheduled Redetermination.

  • Change in Capital Requirements If a Lender shall have determined that, on or after the date hereof, the adoption of any Requirement of Law regarding capital adequacy, or any change therein, or any change in the interpretation or administration thereof by any Governmental Authority charged with the interpretation or administration thereof, or any request or directive regarding capital adequacy (whether or not having the force of law) of any such Governmental Authority, in each case that becomes effective after the date hereof, has or would have the effect of reducing the rate of return on capital of a Lender (or its parent) as a consequence of a Lender’s obligations hereunder or the Loans to a level below that which a Lender (or its parent) could have achieved but for such adoption, change, request or directive by an amount reasonably deemed by it to be material, then Borrower shall pay to such Lender on demand such additional amount or amounts as will compensate such Lender (or its parent) for such reduction.

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