Common use of Notification and Determination of Additional Costs Clause in Contracts

Notification and Determination of Additional Costs. Each of the Agent and each Lender agrees to notify the Borrowers of any event occurring after the Agreement Date entitling the Agent or such Lender to compensation under any of the preceding subsections of this Section as promptly as practicable; provided, however, except as otherwise provided below, the failure of the Agent or any Lender to give such notice shall not release the Borrowers from any of their obligations hereunder (and in the case of a Lender, to the Agent). The Agent or such Lender agrees to furnish to the Borrowers (and in the case of a Lender, to the Agent) a certificate setting forth in reasonable detail the basis and amount of each request by the Agent or such Lender for compensation under this Section, in each case within three months after the effective date of the Regulatory Change or other circumstance giving rise to such requested compensation (and, should such certificate not be furnished within such three-month period, the Borrowers shall not be liable for any Additional Costs or compensation related to such Regulatory Change or other circumstance). Absent manifest error, determinations by the Agent or any Lender of the effect of any Regulatory Change shall be conclusive, provided that such determinations are made on a reasonable basis and in good faith and otherwise in accordance with this Agreement.

Appears in 6 contracts

Samples: Credit Agreement (Epr Properties), Credit Agreement (Epr Properties), Credit Agreement (Epr Properties)

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Notification and Determination of Additional Costs. Each of the Agent and each Lender Xxxxxx agrees to notify the Borrowers Borrower of any event occurring after the Agreement Date entitling the Agent or such Lender to compensation under any of the preceding subsections of this Section as promptly as practicable; provided, however, except as otherwise provided below, the failure of the Agent or any Lender to give such notice shall not release the Borrowers Borrower from any of their its obligations hereunder (and in the case of a Lender, to the Agent). The Agent or such Lender Xxxxxx agrees to furnish to the Borrowers Borrower (and in the case of a Lender, to the Agent) a certificate setting forth in reasonable detail the basis and amount of each request by the Agent or such Lender for compensation under this Section, in each case within three months after the effective date of the Regulatory Change or other circumstance giving rise to such requested compensation (and, should such certificate not be furnished within such three-month period, the Borrowers Borrower shall not be liable for any Additional Costs or compensation related to such Regulatory Change or other circumstance). Absent manifest error, determinations by the Agent or any Lender of the effect of any Regulatory Change shall be conclusive, provided that such determinations are made on a reasonable basis and in good faith and otherwise in accordance with this Agreement.

Appears in 3 contracts

Samples: Credit Agreement (Epr Properties), Credit Agreement (Epr Properties), Credit Agreement (Epr Properties)

Notification and Determination of Additional Costs. Each of the Agent and each Lender agrees to notify the Borrowers Borrower of any event occurring after the Agreement Date entitling the Agent or such Lender to compensation under any of the preceding subsections of this Section as promptly as practicable; provided, however, except as otherwise provided below, the failure of the Agent or any Lender to give such notice shall not release the Borrowers Borrower from any of their its obligations hereunder (and in the case of a Lender, to the Agent). The Agent or such Lender agrees to furnish to the Borrowers Borrower (and in the case of a Lender, to the Agent) a certificate setting forth in reasonable detail the basis and amount of each request by the Agent or such Lender for compensation under this Section, in each case within three months after the effective date of the Regulatory Change or other circumstance giving rise to such requested compensation (and, should such certificate not be furnished within such three-month period, the Borrowers Borrower shall not be liable for any Additional Costs or compensation related to such Regulatory Change or other circumstance). Absent manifest error, determinations by the Agent or any Lender of the effect of any Regulatory Change shall be conclusive, provided that such determinations are made on a reasonable basis and in good faith and otherwise in accordance with this Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Epr Properties), Credit Agreement (Epr Properties)

Notification and Determination of Additional Costs. Each of the Administrative Agent and each Lender agrees to notify the Borrowers Borrower of any event occurring after the date of this Agreement Date entitling the Administrative Agent or such Lender to compensation under any of the preceding subsections of this Section 3.9(a) as promptly as practicable; provided, however, except as otherwise provided below, the failure of the Administrative Agent or any Lender to give such notice shall not release the Borrowers Borrower from any of their its obligations hereunder (and in hereunder; provided, however, that notwithstanding the case foregoing provisions of this Section 3.9(a), Administrative Agent or a Lender, as the case may be, shall not be entitled to compensation for any such amount relating to any period ending more than six (6) months prior to the Agent)date that Administrative Agent or such Lender, as applicable, first notifies Borrower in writing thereof. The Administrative Agent and or such Lender agrees to furnish to the Borrowers (and in the case of a Lender, to the Agent) Borrower a certificate setting forth in reasonable detail the basis and amount of each request by the Administrative Agent or such Lender for compensation under this Section, in each case within three months after the effective date of the Regulatory Change or other circumstance giving rise to such requested compensation (and, should such certificate not be furnished within such three-month period, the Borrowers shall not be liable for any Additional Costs or compensation related to such Regulatory Change or other circumstanceSection 3.9(a). Absent manifest error (that is an obvious mathematical error), determinations by the Administrative Agent or any Lender of the effect of any Regulatory Change shall be conclusive, provided that such determinations are made on a reasonable basis and in good faith and otherwise in accordance with this Agreementfaith.

Appears in 1 contract

Samples: Construction Loan and Security Agreement (Campus Crest Communities, Inc.)

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Notification and Determination of Additional Costs. Each of the Administrative Agent and each Lender agrees to notify the Borrowers Borrower of any event occurring after the date of this Agreement Date entitling the Administrative Agent or such Lender to compensation reimbursements under any of the preceding subsections of this Section 3.9(a) as promptly as practicable; provided, however, except as otherwise provided below, the failure of the Administrative Agent or any Lender to give such notice shall not release the Borrowers Borrower from any of their its obligations hereunder (and in hereunder; provided, however, that notwithstanding the case foregoing provisions of this Section 3.9(a)(iii), Administrative Agent or a Lender, as the case may be, shall not be entitled to reimbursement for any such amount relating to any period ending more than six (6) months prior to the Agent)date that Administrative Agent or such Lender, as applicable, first notifies Borrower in writing thereof. The Administrative Agent and or such Lender agrees to furnish to the Borrowers (and in the case of a Lender, to the Agent) Borrower a certificate setting forth in reasonable detail the basis and amount of each request by the Administrative Agent or such Lender for compensation reimbursement under this Section, in each case within three months after the effective date of the Regulatory Change or other circumstance giving rise to such requested compensation (and, should such certificate not be furnished within such three-month period, the Borrowers shall not be liable for any Additional Costs or compensation related to such Regulatory Change or other circumstanceSection 3.9(a)(iii). Absent manifest error, determinations by the Administrative Agent or any Lender of the effect of any Regulatory Change shall be conclusive, provided that such determinations are made on a reasonable basis and in good faith and otherwise in accordance with this Agreementfaith.

Appears in 1 contract

Samples: Construction Loan and Security Agreement (Bluerock Residential Growth REIT, Inc.)

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