Common use of Payments Computed by Reference to Bank Specific Charges Clause in Contracts

Payments Computed by Reference to Bank Specific Charges. If BNPPLC actually receives any Bank Specific Charges (or interest thereon) for the account of a particular Participant, then BNPPLC promises to promptly make a payment to such Participant equal to such Bank Specific Charges (or interest thereon). If requested by any Participant, BNPPLC will make a demand upon LRC for, and will endeavor in good faith to collect, payment of any Bank Specific Charges due for the account of such Participant; provided, however, as an alternative to making any effort to collect any Bank Specific Charge for any Participant, BNPPLC may instead assign to such Participant the right to collect such Bank Specific Charge directly from LRC.

Payments Computed by Reference to Bank Specific Charges. If BNPPLC actually receives any Bank Specific Charges (or interest thereon) for the account of a particular Participant, then BNPPLC promises to promptly make a payment to such Participant equal to such Bank Specific Charges (or interest thereon). If requested by any Participant, BNPPLC will make a demand upon LRC NAI for, and will endeavor in good faith to collect, payment of any Bank Specific Charges due for the account of such Participant; provided, however, as an alternative to making any effort to collect any Bank Specific Charge for any Participant, BNPPLC may instead assign to such Participant the right to collect such Bank Specific Charge directly from LRCNAI.