Common use of Reserves on Offshore Rate Loans Clause in Contracts

Reserves on Offshore Rate Loans. The Company shall pay to each Lender, as long as such Lender shall be required under regulations of the FRB to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as "Eurocurrency liabilities") and, in respect of any Offshore Currency Loans, under any applicable regulations of the relevant Governmental Authority in the country in which the Offshore Currency of such Offshore Currency Loan circulates, additional costs on the unpaid principal amount of each Offshore Rate Committed Loan and Offshore Currency Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), payable on each date on which interest is payable on such Loan, provided the Company shall have received at least 15 days' prior written notice (with a copy to the Agent) of the amount of such additional interest from such Lender. If a Lender fails to give notice 15 days prior to the relevant Interest Payment Date, such additional interest shall be payable 15 days from receipt of such notice.

Reserves on Offshore Rate Loans. The Company Companies shall jointly and severally pay to each LenderBank, as long as such Lender Bank shall be required under regulations of the FRB to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as "Eurocurrency liabilities") ), and, in respect of any Offshore Currency Loans, under any applicable regulations of the central bank or other relevant Governmental Authority in the country in which the Offshore Currency of such Offshore Currency Rate Loan circulates, additional costs on the unpaid principal amount of each Offshore Rate Committed Loan and Offshore Currency Loan equal to the actual costs of such reserves allocated to such Loan by such Lender the Bank (as determined by such Lender the Bank in good faith, which determination shall be conclusive), payable on each date on which interest is payable on such Loan, provided the Company Companies shall have received at least 15 fifteen (15) days' prior written notice (with a copy to the Agent) of the amount of such additional interest from such Lenderthe Bank. If a Lender Bank fails to give notice 15 fifteen (15) days prior to the relevant Interest Payment Date, such additional interest shall be payable 15 fifteen (15) days from receipt of such notice.