Common use of Change in Governmental Requirements Clause in Contracts

Change in Governmental Requirements. If any Governmental Requirement makes it unlawful for any Lender to make or maintain LIBOR Rate Borrowings, then that Lender shall promptly notify Borrowers and Administrative Agent, and (a) as to undisbursed funds, that requested Borrowing shall be made as a CBFR Borrowing and (b) as to any outstanding Borrowing (i) if maintaining the Borrowing until the last day of the applicable Interest Period is unlawful, the Borrowing shall be converted to a CBFR Borrowing as of the date of notice, in which event Borrowers will be required to pay any related Consequential Loss or (ii) if not prohibited by applicable Governmental Requirements, the Borrowing shall be converted to a CBFR Borrowing as of the last day of the applicable Interest Period or (iii) if any conversion will not resolve the unlawfulness, Borrowers shall promptly prepay the Borrowing, without penalty but with related Consequential Loss.

Change in Governmental Requirements. If any Governmental Requirement makes it unlawful for any Lender to make or maintain LIBOR Rate Borrowings, then that Lender shall promptly notify Borrowers Borrower and Administrative Agent, and (a) as to undisbursed funds, that requested Borrowing shall be made as a CBFR Base Rate Borrowing and (b) as to any outstanding Borrowing (i) if maintaining the Borrowing until the last day of the applicable Interest Period is unlawful, the Borrowing shall be converted to a CBFR Base Rate Borrowing as of the date of notice, in which event Borrowers Borrower will be required to pay any related Consequential Loss or (ii) if not prohibited by applicable Governmental Requirements, the Borrowing shall be converted to a CBFR Base Rate Borrowing as of the last day of the applicable Interest Period or (iii) if any conversion will not resolve the unlawfulness, Borrowers Borrower shall promptly prepay the Borrowing, without penalty but with related Consequential Loss.

Change in Governmental Requirements. If any Governmental Requirement makes it unlawful for any Lender to make or maintain LIBOR Rate Borrowings, then that Lender shall promptly notify Borrowers Borrower and Administrative Agent, and (ai) as to undisbursed funds, that requested Borrowing shall be made as a CBFR Base Rate Borrowing and (bii) as to any outstanding Borrowing (ia) if maintaining the Borrowing until the last day of the applicable Interest Period is unlawful, the Borrowing shall be converted to a CBFR Base Rate Borrowing as of the date of notice, in which event Borrowers Borrower will not be required to pay any related Consequential Funding Loss or (iib) if not prohibited by applicable Governmental Requirements, the Borrowing shall be converted to a CBFR Base Rate Borrowing as of the last day of the applicable Interest Period or (iiic) if any conversion will not resolve the unlawfulness, Borrowers Borrower shall promptly prepay the Borrowing, without penalty but with related Consequential Funding Loss.