Common use of Availability of Types of Loans Clause in Contracts

Availability of Types of Loans. If, on or prior to the first day of any Interest Period, (i) the Administrative Agent shall have determined that adequate and reasonable means do not exist for ascertaining the applicable LIBOR Rate for such Interest Period or (ii) the Administrative Agent shall have received written notice from the Required Lenders of their determination that the rate of interest referred to in the definition of “LIBOR Rate” upon the basis of which the Adjusted LIBOR Rate for LIBOR Loans for such Interest Period is to be determined will not adequately and fairly reflect the cost to such Lenders of making or maintaining LIBOR Loans during such Interest Period, the Administrative Agent will forthwith so notify the Borrower and the Lenders. Upon such notice, (x) all then outstanding LIBOR Loans shall automatically, on the expiration date of the respective Interest Periods applicable thereto (unless then repaid in full), be converted into Base Rate Loans, (y) the obligation of the Lenders to make, to convert Base Rate Loans into, or to continue, LIBOR Loans shall be suspended (including pursuant to the Loan to which such Interest Period applies), and (z) any Borrowing Notice or Conversion/Continuation Notice given at any time thereafter with respect to LIBOR Loans shall be deemed to be a request for Base Rate Loans, in each case until the Administrative Agent or the Required Lenders, as the case may be, shall have determined that the circumstances giving rise to such suspension no longer exist (and the Required Lenders, if making such determination, shall have so notified the Administrative Agent), and the Administrative Agent shall have so notified the Borrower and the Lenders.

Availability of Types of Loans. IfIf (x) any Lender determines that maintenance of its Eurodollar Loans at a suitable Lending Installation would violate any applicable law, on rule, regulation, or directive, whether or not having the force of law, or (y) prior to the first day of any applicable Interest Period, the Required Lenders determine that (i) the Administrative Agent shall have determined that adequate deposits of a type and reasonable means do maturity appropriate to match-fund Eurodollar Loans are not exist for ascertaining the applicable LIBOR Rate for such Interest Period available or (ii) the Administrative Agent shall have received written notice from the Required Lenders of their determination that the interest rate of interest referred applicable to in the definition of “LIBOR Rate” upon the basis of which the Adjusted LIBOR Rate for LIBOR any Eurodollar Loans for such Interest Period is to be determined will does not adequately and fairly accurately reflect the cost to such Lenders of making or maintaining LIBOR Loans during such Interest PeriodEurodollar Loans, then (a) in the Administrative Agent will forthwith so case of clause (x) above, such Lender shall promptly notify the Borrower and the Lenders. Upon Administrative Agent and, so long as such noticecircumstances shall continue, (xi) all then outstanding LIBOR such Lender shall have no obligation to make Eurodollar Loans or convert Floating Rate Loans into Eurodollar Loans (but shall automatically, on make Floating Rate Loans concurrently with the expiration date making of the respective Interest Periods applicable thereto (unless then repaid in full), be converted or conversion into Base Rate Loans, (y) the obligation of Eurodollar Loans by the Lenders to make, to convert Base Rate Loans into, or to continue, LIBOR Loans shall be suspended (including pursuant to the Loan to which such Interest Period applies), and (z) any Borrowing Notice or Conversion/Continuation Notice given at any time thereafter with respect to LIBOR Loans shall be deemed to be a request for Base Rate Loansare not so affected, in each case until in an amount equal to such Lender’s share of all Eurodollar Loans which would be made or converted into at such time in the Administrative Agent absence of such circumstances) and (ii) on the last day of the current Interest Period for each Eurodollar Loan of such Lender (or, in any event, on such earlier date as may be required by the relevant law, regulation or the Required Lendersinterpretation), as such Eurodollar Loan shall, unless then paid in full, automatically convert to a Floating Rate Loan, and (b) in the case may beof clause (y) above, shall have determined that the circumstances giving rise to such suspension no longer exist (and the Required Lenders, if making such determination, shall have so notified the Administrative Agent), and the Administrative Agent shall have so notified suspend the Borrower availability of future Eurodollar Loans and any requested borrowing of, conversion into or continuation of a Eurodollar Loan shall instead be made as, remain or be converted into a Floating Rate Loan. Each Floating Rate Loan made pursuant to clause (a) above shall remain outstanding for the Lenderssame period as the Eurodollar Loan of which such Floating Rate Loan would be a part absent the circumstances described in such clause (a).