Common use of Loss of Margin Clause in Contracts

Loss of Margin. In the event that any present or future law, rule, regulation, treaty or official directive or the interpretation or application thereof by any central bank, monetary authority or governmental authority, or the compliance with any guideline or request of any central bank, monetary authority or governmental authority (whether or not having the force of law): (a) subjects Bank to any tax with respect to any amounts payable under this Agreement or the other Loan Documents by Borrowers or otherwise with respect to the transactions contemplated under this Agreement or the other Loan Documents (except for taxes on the overall net income of Bank imposed by the U.S. or any political subdivision thereof); or (b) imposes, modifies or deems applicable any deposit insurance, reserve, special deposit, capital maintenance, capital adequacy, or similar requirement against assets held by, or deposits in or for the account of, or loans or advances or commitment to make loans or advances by, or letters of credit issued or commitment to issue letters of credit by Bank; or (c) imposes upon Bank any other condition with respect to advances or extensions of credit or the commitment to make advances or extensions of credit under this Agreement, and the result of any of the foregoing is to increase the costs of Bank, reduce the income receivable by or return on equity of Bank or impose any expense upon Bank in each case related to any Advances or extensions of credit made by Bank or commitments by Bank to make Advances or extensions of credit under this Agreement, Bank shall so notify Borrowers in writing. Borrowers agree to pay Bank the amount of such increase in cost, reduction in income, reduced return on equity or capital, or additional expense within thirty (30) days after presentation by Bank of a statement concerning such increase in cost, reduction in income, reduced return on equity or capital, or additional expense. Such statement shall set forth a reasonable explanation of the amount and Bank's calculation of the amount (in determining such amount Bank may use any reasonable averaging and attribution methods), which statement shall be conclusively deemed correct absent manifest error. If the amount set forth in such statement is not paid within thirty (30) days after such presentation of such statement, interest will be payable on the unpaid amount at the Default Rate from the due date until paid, both before and after judgment.

Loss of Margin. In the event that any present or future law, rule, regulation, treaty or official directive or the interpretation or application thereof by any central bank, monetary authority or governmental authority, or the compliance with any guideline or request of any central bank, monetary authority or governmental authority (whether or not having the force of law): (ai) subjects Bank to any tax with respect to any amounts payable under this Agreement or the other Loan Documents by Borrowers Borrower or otherwise with respect to the transactions contemplated under this Agreement or the other Loan Documents (except for taxes on the overall net income of Bank imposed by the U.S. or any political subdivision thereof); or (bii) imposes, modifies or deems applicable any deposit insurance, reserve, special deposit, capital maintenance, capital adequacy, or similar requirement against assets held by, or deposits in or for the account of, or loans or advances or commitment to make loans or advances by, or letters of credit issued or commitment to issue letters of credit by Bank; or (ciii) imposes upon Bank any other condition with respect to advances or extensions of credit or the commitment to make advances or extensions of credit under this Agreement, and the result of any of the foregoing is to increase the costs of Bank, reduce the income receivable by or return on equity of Bank or impose any expense upon Bank in each case related to any Advances or extensions of credit made by Bank or commitments by Bank to make Advances or extensions of credit under this Agreement, Bank shall so notify Borrowers Borrower in writing. Borrowers agree Borrower agrees to pay Bank the amount of such increase in cost, reduction in income, reduced return on equity or capital, or additional expense within thirty ten (3010) days after presentation by Bank of a statement concerning such increase in cost, reduction in income, reduced return on equity or capital, or additional expense. Such statement shall set forth a reasonable brief explanation of the amount and Bank's ’s calculation of the amount (in determining such amount Bank may use any reasonable averaging and attribution methods), which statement shall be conclusively deemed correct absent manifest error. If the amount set forth in such statement is not paid within thirty twenty (3020) days after such presentation of such statement, interest will be payable on the unpaid amount at the Default Rate from the due date until paid, both before and after judgment.

Loss of Margin. In the event that any present or future law, rule, regulation, treaty or official directive or the interpretation or application thereof by any central bank, monetary authority or governmental authority, or the compliance with any guideline or request of any central bank, monetary authority or governmental authority (whether or not having the force of law): (a) subjects Bank Lender to any tax with respect to any amounts payable under this Agreement or the other Loan Documents by Borrowers Borrower or otherwise with respect to the transactions contemplated under this Agreement or the other Loan Documents (except for taxes on the overall net income of Bank Lender imposed by the U.S. or any political subdivision thereof); or (b) imposes, modifies or deems applicable any deposit insurance, reserve, special deposit, capital maintenance, capital adequacy, or similar requirement against assets held by, or deposits in or for the account of, or loans or advances or commitment to make loans or advances by, or letters of credit issued or commitment to issue letters of credit by BankLender; or (c) imposes upon Bank Lender any other condition with respect to advances or extensions of credit or the commitment to make advances or extensions of credit under this Agreement, and the result of any of the foregoing is to increase the costs of BankLender, reduce the income receivable by or return on equity of Bank Lender or impose any expense upon Bank Lender in each case related to any Advances or extensions of credit made by Bank Lender or commitments by Bank Lender to make Advances or extensions of credit under this Agreement, Bank Lender shall so notify Borrowers Borrower in writing. Borrowers agree Borrower agrees to pay Bank Lender the amount of such increase in cost, reduction in income, reduced return on equity or capital, or additional expense within thirty ten (3010) days after presentation by Bank Lender of a statement concerning such increase in cost, reduction in income, reduced return on equity or capital, or additional expense. Such statement shall set forth a reasonable brief explanation of the amount and Bank's Lender’s calculation of the amount (in determining such amount Bank Lender may use any reasonable averaging and attribution methods), which statement shall be conclusively deemed correct absent manifest errorerror and shall constitute an account stated between Borrower and Bank. If the amount set forth in such statement is not paid within thirty ten (3010) days after such presentation of such statement, interest will shall be payable on the unpaid amount at the Default Rate from the due date until paid, both before and after judgment.

Loss of Margin. In the event that any present or future law, -------------- rule, regulation, treaty or official directive or the interpretation or application thereof by any central bank, monetary authority or governmental authority, or the compliance with any guideline or request of any central bank, monetary authority or governmental authority (whether or not having the force of law): (a) subjects Bank to any tax with respect to any amounts payable under this Agreement or the other Loan Documents by Borrowers or otherwise with respect to the transactions contemplated under this Agreement or the other Loan Documents (except for taxes on the overall net income of Bank imposed by the U.S. or any political subdivision thereof); or (b) imposes, modifies or deems applicable any deposit insurance, reserve, special deposit, capital maintenance, capital adequacy, or similar requirement against assets held by, or deposits in or for the account of, or loans or advances or commitment to make loans or advances by, or letters of credit issued or commitment to issue letters of credit by Bank; or (c) imposes upon Bank any other condition with respect to advances or extensions of credit or the commitment to make advances or extensions of credit under this Agreement, and the result of any of the foregoing is to increase the costs of Bank, reduce the income receivable by or return on equity of Bank or impose any expense upon Bank in each case related to any Advances or extensions of credit made by Bank or commitments by Bank to make Advances or extensions of credit under this Agreement, Bank shall so notify Borrowers in writing. Borrowers agree to pay Bank the amount of such increase in cost, reduction in income, reduced return on equity or capital, or additional expense within thirty ten (3010) days after presentation by Bank of a statement concerning such increase in cost, reduction in income, reduced return on equity or capital, or additional expense. Such statement shall set forth a reasonable brief explanation of the amount and Bank's calculation of the amount (in determining such amount Bank may use any reasonable averaging and attribution methods), which statement shall be conclusively deemed correct absent manifest error. If the amount set forth in such statement is not paid within thirty ten (3010) days after such presentation of such statement, interest will be payable on the unpaid amount at the Default Rate from the due date until paid, both before and after judgment.

Loss of Margin. In the event that any present or future law, rule, -------------- regulation, treaty or official directive or the interpretation or application thereof by any central bank, monetary authority or governmental authority, or the compliance with any guideline or request of any central bank, monetary authority or governmental authority (whether or not having the force of law): (a1) subjects Bank Mellon to any tax with respect to any amounts payable under this Agreement or the other Loan Related Documents by Borrowers the Company or otherwise with respect to the transactions contemplated under this Agreement or the other Loan Related Documents (except for taxes on the overall net income of Bank Mellon imposed by the U.S. United States of America or any political subdivision thereof); or (b2) imposes, modifies or deems applicable any deposit insurance, reserve, special deposit, capital maintenance, capital adequacy, or similar requirement against assets held by, or deposits in or for the account of, or loans or advances or commitment commitments to make loans or advances by, or letters of credit issued or commitment commitments to issue letters of credit by Bankby, including, without limitation, the Letter of Credit; or (c3) imposes upon Bank Mellon any other condition with respect to advances or extensions of credit or the commitment to make advances or extensions of credit under this Agreement or under the Revolving Credit Loan Agreement, and the result of any of the foregoing is to increase the costs of BankMellon, reduce the income receivable by or return on equity of Bank Mellon or impose any expense upon Bank in each case related Mellon with respect to any Advances advances or extensions of credit made by Bank or commitments by Bank to make Advances advances or extensions of credit under this Agreement, Bank Mellon shall so notify Borrowers the Company in writing. Borrowers agree The Company agrees to pay Bank Mellon the amount of such increase in cost, reduction in income, reduced return on equity or capital, or additional expense within thirty (30) days after presentation by Bank Mellon of a statement concerning such increase in cost, reduction in income, reduced return on equity or capital, or additional expense. Such statement shall set forth a reasonable explanation of the amount and BankMellon's calculation of the amount (in determining such amount Bank Mellon may use any reasonable averaging and attribution methods), which statement shall be conclusively deemed correct absent manifest error. If the amount set forth in such statement is not paid within thirty (30) days after such presentation of such statement, interest will be payable on the unpaid amount at the Default Rate default rate payable under the Revolving Credit Loan Agreement from the due date until paid, both before and after judgment.