Common use of RECOVERY OF ADDITIONAL COSTS Clause in Contracts

RECOVERY OF ADDITIONAL COSTS. If the imposition of or any change in any Legal Requirement, or the interpretation or application of any thereof by any Governmental Authority (including any request or policy not having the force of law) shall impose, modify, or make applicable any taxes (except federal, state, or local income or franchise taxes imposed on the Bank), reserve requirements, capital adequacy requirements, or other obligations which would (1) increase the cost to the Bank for extending or maintaining the Credit Facilities; (2) reduce the amounts payable to the Bank under the Credit Facilities; or (3) reduce the rate of return on the Bank's capital as a consequence of the Bank's obligations with respect to the Credit Facilities, then the Borrower agrees to pay the Bank such additional amounts as will compensate the Bank therefor, within five (5) days after the Bank's written demand for such payment. The Bank's demand shall be accompanied by an explanation of such imposition or charge and a calculation in reasonable detail of the additional amounts payable by the Borrower which explanation and calculations shall be conclusive in the absence of manifest error.

RECOVERY OF ADDITIONAL COSTS. If the imposition of or any change in any Legal Requirement, or the interpretation or application of any thereof by any Governmental Authority (including any request or policy not having the force of law) shall impose, modify, or make applicable any taxes (except federal, state, or local income or franchise taxes imposed on the Bank), reserve requirements, capital adequacy requirements, or other obligations which would (1) increase the cost to the Bank for extending or maintaining the Credit Facilities; (2) reduce the amounts payable to the Bank under the Credit Facilities; or (3) reduce the rate of return on the Bank's ’s capital as a consequence of the Bank's ’s obligations with respect to the Credit Facilities, then the Borrower agrees to pay the Bank such additional amounts as will compensate the Bank therefor, within five (5) days after the Bank's ’s written demand for such payment. The Bank's ’s demand shall be accompanied by an explanation of such imposition or charge and a calculation in reasonable detail of the additional amounts payable by the Borrower which explanation and calculations shall be conclusive in the absence of manifest error.

RECOVERY OF ADDITIONAL COSTS. If the imposition of or any change in any Legal Requirementlaw, rule, regulation or guideline, or the interpretation or application of any thereof by any Governmental Authority court or administrative or governmental authority (including any request or policy not having the force of law) shall impose, modify, modify or make applicable any taxes (except federal, state, or local income or franchise taxes imposed on the BankExcluded Taxes), reserve requirements, capital adequacy requirements, requirements or other obligations which would (1a) increase the cost to the Bank for extending or maintaining the Credit Facilities; credit facilities to which this Agreement relates, (2b) reduce the amounts payable to the Bank under the Credit Facilities; this Agreement or any Loan Documents, or (3c) reduce the rate of return on the Bank's ’s capital as a consequence of the Bank's ’s obligations with respect the credit facilities to the Credit Facilitieswhich this Agreement relates, then the Borrower agrees Borrowers shall pay to pay the Bank such additional amounts as will compensate the Bank therefortherefore, within five fifteen (515) days after the Bank's ’s written demand for such payment. The Bank's , which demand shall be accompanied by an explanation of such imposition or charge and a calculation in reasonable detail of the additional amounts payable by the Borrower Borrowers, which explanation and calculations shall be conclusive in the absence of manifest error.

RECOVERY OF ADDITIONAL COSTS. If the imposition of or any change in any Legal Requirement, or the interpretation or application of any thereof by any court or administrative or Governmental Authority (including any request or policy not having the force of law) shall impose, modify, or make applicable any taxes (except federal, state, or local income or franchise taxes imposed on the Bank), reserve requirements, capital adequacy requirements, or other obligations which would (1) increase the cost to the Bank for extending or maintaining the Credit Facilities; (2) reduce the amounts payable to the Bank under the Credit Facilities; or (3) reduce the rate of return on the Bank's ’s capital as a consequence of the Bank's ’s obligations with respect to the Credit Facilities, then the Borrower agrees to pay the Bank such additional amounts as will compensate the Bank therefor, within five (5) days after the Bank's ’s written demand for such payment. The Bank's ’s demand shall be accompanied by an explanation of such imposition or charge and a calculation in reasonable detail of the additional amounts payable by the Borrower which explanation and calculations shall be conclusive in the absence of manifest error.