Common use of Increased LIBO Rate Loan Costs, etc Clause in Contracts

Increased LIBO Rate Loan Costs, etc. The Borrower agrees to reimburse each Lender for any increase in the cost to such Lender of, or any reduction in the amount of any sum receivable by such Person in respect of, such Person’s Commitments and the making of Credit Extensions hereunder (including the making, continuing or maintaining (or of its obligation to make or continue) any Loans as, or of converting (or of its obligation to convert) any Loans into, LIBO Rate Loans) that arise in connection with any change in, or the introduction, adoption, effectiveness, change in interpretation, reinterpretation or phase in after the Closing Date of, any law or regulation, directive, guideline, decision or request (whether or not having the force of law) of any Governmental Authority, except for such changes with respect to increased capital costs and Taxes which are governed by Sections 4.5 and 4.6, respectively. Each affected Lender shall promptly notify the Administrative Agent and the Borrower in writing of the occurrence of any such event, stating the reasons therefor and the additional amount required fully to compensate such Person for such increased cost or reduced amount. Such additional amounts shall be payable by the Borrower directly to such Lender within five days of its receipt of such notice, and such notice shall, in the absence of manifest error, be conclusive and binding on the Borrower. Notwithstanding the foregoing, no Lender shall be entitled to compensation under this Section for any costs incurred or reductions suffered with respect to any date that it has such costs unless it shall have notified the Borrower that it will demand compensation for such costs not more than 180 days after the date on which it shall have become aware of such costs.

Increased LIBO Rate Loan Costs, etc. The Each Borrower agrees agrees, on a joint and several basis, to reimburse each Lender for any increase in the cost to such Lender of, or any reduction in the amount of any sum receivable by such Person Lender in respect of, such PersonLender’s Commitments and the making of Credit Extensions LIBO Rate Loans hereunder (including the making, continuing or maintaining (or of its obligation to make or continue) any LIBO Rate Loans as, or of converting (or of its obligation to convert) any Loans into, LIBO Rate Loans) that arise in connection with any change in, or the introduction, adoption, effectiveness, change in interpretation, reinterpretation or phase phase-in after the Closing Date of, any law or regulation, directive, guideline, decision or request (whether or not having the force of law) of any Governmental Authority, except for such changes with respect to increased capital costs and Taxes which are governed by Sections 4.5 and 4.6, respectivelyrespectively and except for costs reflected in the LIBO Rate Reserve Percentage. Each affected Lender shall promptly notify the Administrative Agent and the Borrower Borrowers in writing of the occurrence of any such event, stating the reasons therefor and the additional amount required fully to compensate such Person Lender for such increased cost or reduced amount. Such additional amounts shall be payable by the Borrower Borrowers directly to such Lender within five days three Business Days of its receipt of such notice, and such notice shall, in the absence of manifest error, be conclusive and binding on the Borrower. Notwithstanding Borrowers; provided that the foregoing, no Lender Borrowers shall not be entitled to compensation under this Section for any costs incurred or reductions suffered with respect liable to any date that it has such costs unless it shall have notified the Borrower that it will demand compensation Lender for such costs not amounts incurred by such Lender more than 180 365 days after prior to the date on which it shall have become aware of such costsnotice to the Borrowers and the Administrative Agent.

Increased LIBO Rate Loan Costs, etc. The Borrower agrees to reimburse each Lender for any increase in the cost to such Lender of, or any reduction in the amount of any sum receivable by such Person Lender in respect of, such Person’s Commitments and the making of Credit Extensions hereunder (including the making, continuing or maintaining (or of its obligation to make make, continue or continuemaintain) any Loans as, or of converting (or of its obligation to convert) any Loans into, LIBO Rate Loans) that arise Loans as a result in connection with any change in, or the introduction, adoption, effectiveness, change in interpretation, reinterpretation or phase in after the Closing Date ofEffective Date, any law or in applicable law, regulation, directiverule, guideline, decision decree or request (whether regulatory requirement or not having in the force of law) interpretation or application by any judicial or regulatory authority of any Governmental Authoritylaw, except for such changes with respect to increased capital costs and Taxes which are governed by Sections 4.5 and 4.6regulation, respectivelyrule, decree or regulatory requirement. Each affected Such Lender shall promptly notify the Administrative Agent and the Borrower in writing of the occurrence of any such event, stating such notice to state, in reasonable detail, the reasons therefor and the additional amount required fully to compensate such Person Lender for such increased cost or reduced amount. Such additional amounts shall be payable by the Borrower directly to such Lender within five days Business Days of its receipt of such notice, and such notice shall, in the absence of manifest errorerror and if given in good faith, be conclusive and binding on the Borrower. Notwithstanding If such increased costs do not affect all of the foregoingLenders, no the Borrower shall have the right (with the prior written consent of the Agent, which consent shall not be unreasonably withheld) to replace the affected Lender by obtaining another financial institution that is willing to purchase such affected Lender's interest herein for the full amount of any outstanding Loans (principal and accrued interest), to assume such affected Lender's obligations under this Agreement and to become a Lender hereunder. In such event, the affected Lender shall, upon five (5) Business Days notice from Borrower, assign one hundred percent (100%) of its interests hereunder to such replacement lender for the price described in the previous sentence and thereafter such Lender shall be entitled to compensation under this Section for any costs incurred or reductions suffered with respect to any date that it has such costs unless it shall have notified the Borrower that it will demand compensation for such costs not more than 180 days after the date on which it shall have become aware of such costsno further obligations hereunder.

Increased LIBO Rate Loan Costs, etc. The Borrower agrees to reimburse each Lender and Issuer for any increase in the cost to such Lender or Issuer of, or any reduction in the amount of any sum receivable by such Person in respect of, such Person’s Commitments and the making of Credit Extensions hereunder (including the making, continuing or maintaining (or of its obligation to make or continue) any Loans as, or of converting (or of its obligation to convert) any Loans into, LIBO Rate Loans) that arise in connection with any change in, or the introduction, adoption, effectiveness, change in interpretation, reinterpretation or phase phase-in after the Closing Amendment Effective Date of, any law or regulation, directive, guideline, decision or request (whether or not having the force of law) of any Governmental Authority, except for such changes with respect to increased capital costs and Taxes which are governed by Sections 4.5 and 4.6, respectively. Each affected Lender or Issuer shall promptly notify the Administrative Agent and the Borrower in writing of the occurrence of any such event, stating the reasons therefor and the additional amount required fully to compensate such Person for such increased cost or reduced amount. Such additional amounts shall be payable by the Borrower directly to such Lender or Issuer within five days of its receipt of such notice, and such notice shall, in the absence of manifest error, be conclusive and binding on the Borrower. Notwithstanding the foregoing, no Lender or Issuer shall be entitled to compensation under this Section for any costs incurred or reductions suffered with respect to any date that it has such costs unless it shall have notified the Borrower that it will demand compensation for such costs not more than 180 days after the date on which it shall have become aware of such costs.

Increased LIBO Rate Loan Costs, etc. The Borrower agrees to reimburse each Lender and Issuer for any increase in the cost to such Lender or Issuer of, or any reduction in the amount of any sum receivable by such Person in respect of, such Person’s 's Commitments and the making of Credit Extensions hereunder (including the making, continuing or maintaining (or of its obligation to make or continue) any Loans as, or of converting (or of its obligation to convert) any Loans into, LIBO Rate Loans) that arise in connection with any change in, or the introduction, adoption, effectiveness, change in interpretation, reinterpretation or phase phase-in after the Closing Amendment Effective Date of, any law or regulation, directive, guideline, decision or request (whether or not having the force of law) of any Governmental Authority, except for such changes with respect to increased capital costs and Taxes which are governed by Sections 4.5 and 4.6, respectively. Each affected Lender or Issuer shall promptly notify the Administrative Agent and the Borrower in writing of the occurrence of any such event, stating the reasons therefor and the additional amount required fully to compensate such Person for such increased cost or reduced amount. Such additional amounts shall be payable by the Borrower directly to such Lender or Issuer within five days of its receipt of such notice, and such notice shall, in the absence of manifest error, be conclusive and binding on the Borrower. Notwithstanding the foregoing, no Lender or Issuer shall be entitled to compensation under this Section for any costs incurred or reductions suffered with respect to any date that it has such costs unless it shall have notified the Borrower that it will demand compensation for such costs not more than 180 days after the date on which it shall have become aware of such costs.

Increased LIBO Rate Loan Costs, etc. The Borrower agrees Borrowers agree to reimburse each Lender for any increase in the cost to such Lender of, or any reduction in the amount of any sum receivable by such Person Lender in respect of, such Person’s Commitments and the making of Credit Extensions hereunder (including the making, continuing or maintaining (or of its obligation to make make, continue or continuemaintain) any Loans as, or of converting (or of its obligation to convert) any Loans into, LIBO Rate Loans) Loans that arise arises in connection with any change in, or the introduction, adoption, effectiveness, change in interpretation, reinterpretation or phase in after the Closing Date date hereof of, any law or regulation, directive, guideline, decision or request (whether or not having the force of law) of any court, central bank, regulator or other Governmental AuthorityInstrumentality, except for such changes with respect to increased capital costs and Taxes taxes which are governed by Sections 4.5 and 4.6, respectively. Each affected Such Lender shall promptly notify the Administrative Agent and the Borrower Greektown Holdings in writing of the occurrence of any such event, stating such notice to state, in reasonable detail, the reasons therefor and the additional amount required fully to compensate such Person Lender for such increased cost or reduced amountamount and, if requested by the Borrowers, shall include reasonably appropriate documentation confirming the occurrence of such event. Such additional amounts shall be payable by the Borrower Borrowers directly to such Lender within five (5) days of its receipt of such notice, and such notice shall, in the absence of manifest error, be conclusive and binding on the BorrowerBorrowers. Notwithstanding Without limiting the foregoing, no in the event that, as a result of any such change, introduction, adoption or the like described above, the LIBOR Reserve Percentage decreases for any Lender’s LIBO Rate Loans, such Lender shall give prompt notice thereof in writing to the Administrative Agent and Greektown Holdings. The LIBO Rate (Reserve Adjusted) attributable to such Lender’s LIBO Rate Loans shall be entitled adjusted to compensation under this Section for any costs incurred or reductions suffered with respect to any date that it has such costs unless it shall have notified give the Borrower that it will demand compensation for such costs not more than 180 days after Borrowers the date on which it shall have become aware benefit of such costsdecrease (for so long as such decrease shall remain in effect).

Increased LIBO Rate Loan Costs, etc. The applicable Borrower agrees to reimburse each Lender for any increase in the cost to such Lender of, or any reduction in the amount of any sum receivable by such Person Lender in respect of, such Person’s Commitments and the making of Credit Extensions hereunder (including the making, continuing or maintaining (or of its obligation to make make, continue or continuemaintain) any Loans as, or of converting (or of its obligation to convert) any Loans into, LIBO Rate LoansLoans (excluding any amounts, whether or not constituting Taxes, referred to in Section 4.6) that arise in connection with arising as a result of any change in, or the introduction, adoption, effectiveness, change in interpretation, reinterpretation or phase phase-in after the Closing Date of, any law or regulation, directive, guideline, decision or request (whether or not having the force of law) of any Governmental Authoritycourt, except for central bank, regulator or other governmental authority that occurs after (i) in the case of any such changes increased costs or reduced return in respect of Committed Loans, the date upon which such Lender became a Lender hereunder, and (ii) in the case of any such increased costs or reduced return in respect of Uncommitted Foreign Currency Revolving Loans, the date on which such Lender submitted an Uncommitted Foreign Currency Interest Quote with respect to increased capital costs and Taxes which are governed by Sections 4.5 and 4.6, respectivelysuch Uncommitted Foreign Currency Revolving Loans pursuant to Section 2.4. Each affected Such Lender shall promptly notify the Administrative Agent and the Borrower Company in writing of the occurrence of any such event, stating such notice to state, in reasonable detail, the reasons therefor and the additional amount required fully to compensate such Person Lender for such increased cost or reduced amount. Such additional amounts shall be payable by the applicable Borrower directly to such Lender within five days of its receipt of such notice, and such notice shall, in the absence of manifest error, be conclusive and binding on the Borrower. Notwithstanding the foregoing, no Lender shall be entitled to compensation under this Section for any costs incurred or reductions suffered with respect to any date that it has such costs unless it shall have notified the Borrower that it will demand compensation for such costs not more than 180 days after the date on which it shall have become aware of such costsBorrowers.

Increased LIBO Rate Loan Costs, etc. The Each Borrower agrees to reimburse each Lender for any increase in the cost to such Lender of, or any reduction in the amount of any sum receivable by such Person Lender in respect of, such Person’s Commitments and the making of Credit Extensions hereunder (including the making, continuing or maintaining (or of its obligation to make make, continue or continuemaintain) any Loans to such Borrower as, or of converting (or of its obligation to convert) any Loans to such Borrower into, LIBO Rate LoansLoans (excluding any amounts, whether or not constituting Taxes, referred to in Section 4.6) that arise in connection with arising as a result of any change in, or the introduction, adoption, effectiveness, change in interpretation, reinterpretation or phase phase-in after the Closing Date of, any law or regulation, directive, guideline, decision or request (whether or not having the force of law) of any Governmental Authoritycourt, except for central bank, regulator or other governmental authority that occurs after (i) in the case of any such changes increased costs or reduced return in respect of any Committed Loan, the date upon which such Lender became a Lender hereunder and (ii) in the case of any such increased costs or reduced return in respect of any Uncommitted Revolving Loan, the date on which such Lender submitted an Uncommitted Interest Quote with respect to increased capital costs and Taxes which are governed by Sections 4.5 and 4.6, respectivelysuch Uncommitted Revolving Loan pursuant to Section 2.8. Each affected Such Lender shall promptly notify the Administrative Agent and the Borrower Borrowers in writing of the occurrence of any such event, stating such notice to state, in reasonable detail, the reasons therefor and the additional amount required fully to compensate such Person Lender for such increased cost or reduced amount. Such additional amounts shall be payable by the applicable Borrower directly to such Lender within five days of its receipt of such notice, and such notice shall, in the absence of manifest error, be conclusive and binding on the Borrower. Notwithstanding the foregoing, no Lender shall be entitled to compensation under this Section for any costs incurred or reductions suffered with respect to any date that it has such costs unless it shall have notified the Borrower that it will demand compensation for such costs not more than 180 days after the date on which it shall have become aware of such costsBorrowers.

Increased LIBO Rate Loan Costs, etc. The Borrower agrees to reimburse each Lender and Issuer for any increase in the cost to such Lender or Issuer of, or any reduction in the amount of any sum receivable by such Person in respect of, such Person’s 's Commitments and the making of Credit Extensions hereunder (including the making, continuing or maintaining (or of its obligation to make or continue) any Loans as, or of converting (or of its obligation to convert) any Loans into, LIBO Rate Loans) that arise in connection with any change in, or the introduction, adoption, effectiveness, change in interpretation, reinterpretation or phase phase-in after the Closing Date of, any law or regulation, directive, guideline, decision or request (whether or not having the force of law) of any Governmental Authority, except for such changes with respect to increased capital costs and Taxes which are governed by Sections 4.5 and 4.6, respectively. Each affected Lender or Issuer shall promptly notify the Administrative Agent and the Borrower in writing of the occurrence of any such event, stating the reasons therefor and the additional amount required fully to compensate such Person for such increased cost or reduced amount. Such additional amounts shall be payable by the Borrower directly to such Lender or Issuer within five days of its receipt of such notice, and such notice shall, in the absence of manifest error, be conclusive and binding on the Borrower. Notwithstanding the foregoing, no Lender or Issuer shall be entitled to compensation under this Section 4.3 for any costs incurred or reductions suffered with respect to any date that it has such costs unless it shall have notified the Borrower that it will demand compensation for such costs not more than 180 days after the date on which it shall have become aware of such costs.

Increased LIBO Rate Loan Costs, etc. The Borrower agrees Borrowers agree, jointly and severally, to reimburse each Lender for any increase in the cost to such Lender of, or any reduction in the amount of any sum receivable by such Person Lender in respect of, such Person’s Lender Commitments and the making of Credit Extensions hereunder (including related to the making, continuing or maintaining (or of its obligation to make make, continue or continuemaintain) any Loans as, or of converting (or of its obligation to convert) any Loans into, LIBO Rate Loans) that arise in connection with as a result of any change in, or the introduction, adoption, effectiveness, change in interpretation, reinterpretation or phase phase-in after the later of (i) the Closing Date and (ii) the date upon which such Lender shall have become a Lender hereunder (unless, in the case of this CLAUSE (ii), such change, introduction, adoption, effectiveness, interpretation, reinterpretation or phase-in shall have similarly effected substantially all of the Lenders) of, any law or regulation, directive, guideline, decision or request (whether or not having the force of law) of any Governmental Authority, except for such changes with respect to increased capital costs and Taxes taxes which are governed by Sections SECTIONS 4.5 and 4.6, respectively. Each affected Lender shall promptly notify the Administrative Agent and the Borrower Borrowers in writing of the occurrence of any such event, stating in reasonable detail the reasons therefor and the additional amount required fully to compensate such Person Lender for such increased cost or reduced amount. Such additional amounts shall be payable by the Borrower Borrowers directly to such Lender within five days of its receipt of such notice, and such notice shall, in shall be prima facie evidence thereof and shall be binding upon the absence of Borrowers absent manifest error, be conclusive and binding on the Borrower. Notwithstanding the foregoing, no Lender shall be entitled to compensation under this Section for any costs incurred or reductions suffered with respect to any date that it has such costs unless it shall have notified the Borrower that it will demand compensation for such costs not more than 180 days after the date on which it shall have become aware of such costs.

Increased LIBO Rate Loan Costs, etc. The Borrower agrees to reimburse each Lender for any increase in the cost to such Lender of, or any reduction in the amount of any sum receivable by such Person Lender in respect of, such Person’s Commitments and the making of Credit Extensions hereunder (including the making, continuing or maintaining (or of its obligation to make make, continue or continuemaintain) any Loans as, or of converting (or of its obligation to convert) any Loans into, LIBO Rate Loans) that arise Loans as a result in connection with any change in, or the introduction, adoption, effectiveness, change in interpretation, reinterpretation or phase in after the Closing Date ofEffective Date, any law or in applicable law, regulation, directiverule, guideline, decision decree or request (whether regulatory requirement or not having in the force of law) interpretation or application by any judicial or regulatory authority of any Governmental Authoritylaw, except for such changes with respect to increased capital costs and Taxes which are governed by Sections 4.5 and 4.6regulation, respectivelyrule, decree or regulatory requirement. Each affected Such Lender shall promptly notify the Administrative Agent and the Borrower in writing of the occurrence of any such event, stating such notice to state, in reasonable detail, the reasons therefor and the additional amount required fully to compensate such Person Lender for such increased cost or reduced amount. Such additional amounts shall be payable by the Borrower directly to such Lender within five days Business Days of its receipt of such notice, and such notice shall, in the absence of manifest errorerror and if given in good faith, be conclusive and binding on the Borrower. Notwithstanding If such increased costs do not affect all of the foregoingLenders, no the Borrower shall have the right (with the prior written consent of the Agent, which consent shall not be unreasonably withheld) to replace the affected Lender shall be entitled by obtaining another financial institution that is willing to compensation purchase such affected Lender's interest herein for the full amount of any outstanding Loans and Reimbursement Obligations (principal and accrued interest), to assume such affected Lender's obligations under this Section for any costs incurred or reductions suffered with respect Agreement and to any date that it has become a Lender hereunder. In such costs unless it shall have notified event, the Borrower that it will demand compensation for affected Lender shall, upon five (5) Business Days notice from Borrower, assign one hundred percent (100%) of its interests hereunder to such costs not more than 180 days after the date on which it shall have become aware of such costs.replacement