Common use of Reserves on Offshore Rate Loans Clause in Contracts

Reserves on Offshore Rate Loans. The Company shall pay to each Bank, in respect of any Offshore Currency Loans, additional costs arising under any applicable regulations of the central bank or other relevant Governmental Authority on the unpaid principal amount of each Offshore Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Bank (as determined by such Bank 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 Administrative Agent) of such additional interest from such Bank. If a Bank 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 shall pay to each Bank, in respect of any Offshore Currency Loans, additional costs arising under any applicable regulations of the central bank or other relevant Governmental Authority on the unpaid principal amount of each Offshore Rate Loan equal to the actual costs of such reserves allocated to such Loan by such the Bank (as determined by such 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 shall have received at least 15 days’ ' prior written notice (with a copy to the Administrative Agent) of such additional interest from such the Bank. If a Bank 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 shall pay to each Bank, in as long as such Bank shall be required under regulations of the FRB to maintain reserves with respect to liabilities or assets consisting of any Offshore Currency Loansor including eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional costs arising under any applicable regulations of the central bank or other relevant Governmental Authority on the unpaid principal amount of each Offshore Rate Loan equal to the actual costs of such reserves allocated to such Offshore Rate Loan by such the Bank (as determined by such the Bank in good faith, which determination shall be conclusiveconclusive absent manifest error), payable on each date on which interest is payable on such Offshore Rate Loan, provided the Company shall have received at least 15 days’ prior written notice (with a copy to the Administrative Agent) of such additional interest from such the Bank. If a Bank 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.