Common use of Changes in Law Rendering Certain LIBOR Rate Loans Unlawful Clause in Contracts

Changes in Law Rendering Certain LIBOR Rate Loans Unlawful. In the event that any change in any applicable law (including the adoption of any new applicable law) or any change in the interpretation of any applicable law by any judicial, governmental or other regulatory body charged with the interpretation, implementation or administration thereof, should make it (or in the good-faith judgment of the Postpetition Lender should raise a substantial question as to whether it is) unlawful for the Postpetition Lender to make, maintain or fund LIBOR Rate Loans, then: (a) the Postpetition Lender shall promptly notify the Borrower; and (b) the obligation of the Postpetition Lender to make LIBOR Rate Loans of such type shall, upon the effectiveness of such event, be suspended for the duration of such unlawfulness. During the period of any suspension, the Postpetition Lender shall make loans to the Borrower that are deemed lawful and that as closely as possible reflect the terms of this Agreement.

Changes in Law Rendering Certain LIBOR Rate Loans Unlawful. In the event that any change in any applicable law (including the adoption of any new applicable law) or any change in the interpretation of any applicable law by any judicial, governmental or other regulatory body charged with the interpretation, implementation or administration thereof, should make it (or in the good-good- faith judgment of the Postpetition Lender should raise a substantial question as to whether it is) unlawful for the Postpetition Lender to make, maintain or fund LIBOR Rate Loans, then: (a) the Postpetition Lender shall promptly notify the Borrower; and (b) the obligation of the Postpetition Lender to make LIBOR Rate Loans of such type shall, upon the effectiveness of such event, be suspended for the duration of such unlawfulness. During the period of any suspension, the Postpetition Lender shall make loans to the Borrower that are deemed lawful and that as closely as possible reflect the terms of this Agreement.

Changes in Law Rendering Certain LIBOR Rate Loans Unlawful. In the event that any change in any applicable law (including the adoption of any new applicable law) or any change in the interpretation of any applicable law by any judicial, governmental or other regulatory body charged with the interpretation, implementation or administration thereof, should make it (or in the good-faith judgment of the Postpetition Lender should raise a substantial question as to whether it is) unlawful for the Postpetition Lender to make, maintain or fund LIBOR Rate Loans, then:for (a) the Postpetition Lender shall promptly notify the Borrower; and (b) the obligation of the Postpetition Lender to make LIBOR Rate Loans of such type shall, upon the effectiveness of such event, be suspended for the duration of such unlawfulness. During the period of any suspension, the Postpetition Lender shall make loans to the Borrower that are deemed lawful and that as closely as possible reflect the terms of this Agreement.