Common use of Payments in Respect of Increased Costs Clause in Contracts

Payments in Respect of Increased Costs. In the event that any Bank shall have reasonably determined that any Requirement of Law regarding reserves, capital adequacy, special deposit or other similar requirement(s) or any change therein or in the interpretation or application thereof or compliance by any Bank or any Affiliate of such Bank with any request or directive regarding any such requirements (whether or not having the force of law, so long as such Bank reasonably believes that compliance therewith is necessary) from any central bank or other Governmental Authority, does or shall have the effect of reducing the rate of return on such Bank's capital as a consequence of its obligations hereunder to a level below that which such Bank could have achieved but for such law or change or compliance (taking into consideration such Bank's policies with respect to capital adequacy or other similar requirements) by an amount deemed by such Bank in the exercise of reasonable discretion to be material, then from time to time, upon submission by such Bank (with a copy to the Agent) to the Borrower of a written demand a certificate therefor which sets forth in reasonable detail the basis for such request and the computation of the amount requested (the amounts set forth in any such demand shall be presumptive evidence thereof, absent manifest error), the Borrower shall pay to such Bank such additional amount or amounts as will compensate such Bank for such reduction relating to this Agreement from the date of such event and thereafter such similar payments requested by any Bank on the basis set forth above. Notwithstanding the foregoing, a Bank shall have no right to seek additional compensation hereunder unless and until it shall have allocated the same fairly and equitably among all of its similarly situated customers generally affected thereby.

Payments in Respect of Increased Costs. In the event that any the Bank shall have reasonably determined that any Requirement of Law Regulatory Change regarding reserves, capital adequacy, special deposit or other similar requirement(s) or any change therein or in the interpretation or application thereof or compliance by any Bank or any Affiliate of such the Bank with any request or directive regarding any such requirements (whether or not having the force of law, so long as such the Bank reasonably believes that compliance therewith is necessary) from any central bank or other Governmental Authoritygovernmental authority, does or shall have the effect of reducing the rate of return on such the Bank's ’s capital as a consequence of its Commitment or any of its obligations hereunder to a level below that which such the Bank could have achieved but for such law or change or compliance (taking into consideration such Bank's ’s policies with respect to capital adequacy or other similar requirements) by an amount deemed by such the Bank in the exercise of reasonable discretion to be material, then from time to time, upon submission by such the Bank (with a copy to the Agent) to the Borrower of a written demand a certificate therefor which sets forth in reasonable detail the basis for such request and the computation of the amount requested (the amounts set forth in any such demand shall be presumptive evidence thereof, absent manifest error), the Borrower shall pay to such the Bank such additional amount or amounts as will compensate such the Bank for such reduction increased cost relating to this Agreement from the date of such event event, together with any late charge applicable thereto as provided in Section 4.3 hereof and thereafter such similar payments requested by any the Bank on the basis set forth above. Notwithstanding the foregoing, a Bank shall have no right to seek additional compensation hereunder unless and until it shall have allocated the same fairly and equitably among all of its similarly situated customers generally affected thereby.

Payments in Respect of Increased Costs. In the event that any the Bank shall have reasonably determined that any Requirement of Law regarding reserves, capital adequacy, special deposit or other similar requirement(s) or any change therein or in the interpretation or application thereof or compliance by any Bank or any Affiliate of such the Bank with any request or directive regarding any such requirements (whether or not having the force of law, so long as such the Bank reasonably believes that compliance therewith is necessary) from any central bank or other Governmental Authority, does or shall have the effect of reducing the rate of return on such the Bank's capital as a consequence of its Commitment or any of its obligations hereunder to a level below that which such the Bank could have achieved but for such law or change or compliance (taking into consideration such Bank's policies with respect to capital adequacy or other similar requirements) by an amount deemed by such the Bank in the exercise of reasonable discretion to be material, then from time to time, upon submission by such the Bank (with a copy to the Agent) to the Borrower of a written demand a certificate therefor which sets forth in reasonable detail the basis for such request and the computation of the amount requested (the amounts set forth in any such demand shall be presumptive evidence thereof, absent manifest error), the Borrower shall pay to such the Bank such additional amount or amounts as will compensate such the Bank for such reduction increased cost relating to this Agreement from the date of such event event, together with any late charge applicable thereto as provided in Section 4.3 hereof and thereafter such similar payments requested by any the Bank on the basis set forth above. Notwithstanding the foregoing, a Bank shall have no right to seek additional compensation hereunder unless and until it shall have allocated the same fairly and equitably among all of its similarly situated customers generally affected thereby.