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

Changes in Law Rendering Certain Loans Unlawful. In the event that any change in (including the adoption of any new) applicable laws or regulations, or in the interpretation of applicable laws or regulations by any Governmental Authority or other regulatory body charged with the administration thereof, should make it (or in the good faith judgment of such Lender raise a substantial question as to whether it is) unlawful for a Lender to make, maintain or fund any LIBOR Rate Loan, then (a) such Lender shall promptly notify each of the other parties hereto, (b) upon the effectiveness of such event and so long as such unlawfulness shall continue, the obligation of such Lender to make or Continue LIBOR Rate Loans shall be suspended and any request by the Borrower for LIBOR Rate Loans shall, as to such Lender, be deemed to be a request for a Base Rate Loan, and (c) on the last day of the current Loan Period for such Lender’s LIBOR Rate Loans (or, in any event, if such Lender so requests on such earlier date as may be required by the relevant law, regulation or interpretation) such Lender’s Committed Loans which are LIBOR Rate Loans shall cease to be maintained as LIBOR Rate Loans and shall thereafter bear interest at a floating rate per annum equal to the Base Rate. If at any time the event giving rise to such unlawfulness shall no longer exist, then such Lender shall promptly notify the Borrower and the Agent.

Changes in Law Rendering Certain Loans Unlawful. In the event that any change in (including the adoption of any new) applicable laws or regulations, or in the interpretation of applicable laws or regulations by any Governmental Authority or other regulatory body charged with the administration thereof, should make it (or in the good faith judgment of such Lender Bank raise a substantial question as to whether it is) unlawful for a Lender Bank to make, maintain or fund any LIBOR Rate Loan, then (a) such Lender Bank shall promptly notify each of the other parties hereto, (b) upon the effectiveness of such event and so long as such unlawfulness shall continue, the obligation of such Lender Bank to make or Continue LIBOR Rate Loans shall be suspended and any request by the Borrower Company for LIBOR Rate Loans shall, as to such LenderBank, be deemed to be a request for a Base Rate Loan, if said LIBOR Rate Loan is a Committed Loan, or an Absolute Rate Loan, if said LIBOR Rate Loan is a Bid Loan and (c) on the last day of the current Loan Period for such Lender’s Bank's LIBOR Rate Loans (or, in any event, if such Lender Bank so requests on such earlier date as may be required by the relevant law, regulation or interpretation) such Lender’s Committed Bank's Loans which are LIBOR Rate Loans shall cease to be maintained as LIBOR Rate Loans and shall thereafter bear interest at a floating rate per annum equal to the Base Rate, if said LIBOR Rate Loan is a Committed Loan, or at an Absolute Rate, which Absolute Rate shall be the LIBOR Rate in effect during such Loan Period, if said LIBOR Rate Loan is a Bid Loan. If at any time the event giving rise to such unlawfulness shall no longer exist, then such Lender Bank shall promptly notify the Borrower Company and the Agent.

Changes in Law Rendering Certain Loans Unlawful. In the event that any change in (including the adoption of any new) applicable laws or regulations, or in the interpretation of applicable laws or regulations by any Governmental Authority or other regulatory body charged with the administration thereof, should make it (or in the good faith judgment of such Lender Bank raise a substantial question as to whether it is) unlawful for a Lender Bank to make, maintain or fund any LIBOR Rate Loan, then (a) such Lender Bank shall promptly notify each of the other parties hereto, (b) upon the effectiveness of such event and so long as such unlawfulness shall continue, the obligation of such Lender Bank to make or Continue LIBOR Rate Loans shall be suspended and any request by the Borrower Company for LIBOR Rate Loans shall, as to such LenderBank, be deemed to be a request for a Base Rate Loan, if said LIBOR Rate Loan is a Committed Loan, or an Absolute Rate Loan, if said LIBOR Rate Loan is a Bid Loan and (c) on the last day of the current Loan Period for such LenderBank’s LIBOR Rate Loans (or, in any event, if such Lender Bank so requests on such earlier date as may be required by the relevant law, regulation or interpretation) such LenderBank’s Committed Loans which are LIBOR Rate Loans shall cease to be maintained as LIBOR Rate Loans and shall thereafter bear interest at a floating rate per annum equal to the Base Rate, if said LIBOR Rate Loan is a Committed Loan, or at an Absolute Rate, which Absolute Rate shall be the LIBOR Rate in effect during such Loan Period, if said LIBOR Rate Loan is a Bid Loan. If at any time the event giving rise to such unlawfulness shall no longer exist, then such Lender Bank shall promptly notify the Borrower Company and the Agent.

Changes in Law Rendering Certain Loans Unlawful. In the event that any change in (including the adoption of any new) applicable laws or regulations, or in the interpretation of applicable laws or regulations by any Governmental Authority or other regulatory body charged with the administration thereof, should make it (or in the good faith judgment of such Lender Bank raise a substantial question as to whether it is) unlawful for a Lender Bank to make, maintain or fund any LIBOR Rate Loan, then (a) such Lender Bank shall promptly notify each of the other parties hereto, (b) upon the effectiveness of such event and so long as such unlawfulness shall continue, the obligation of such Lender Bank to make or Continue LIBOR Rate Loans shall be suspended and any request by the Borrower Company for LIBOR Rate Loans shall, as to such LenderBank, be deemed to be a request for a Base Rate Loan, and (c) on the last day of the current Loan Period for such LenderBank’s LIBOR Rate Loans (or, in any event, if such Lender Bank so requests on such earlier date as may be required by the relevant law, regulation or interpretation) such LenderBank’s Committed Loans which are LIBOR Rate Loans shall cease to be maintained as LIBOR Rate Loans and shall thereafter bear interest at a floating rate per annum equal to the Base Rate. If at any time the event giving rise to such unlawfulness shall no longer exist, then such Lender Bank shall promptly notify the Borrower Company and the Agent.

Changes in Law Rendering Certain Loans Unlawful. In the event that any change in (including the adoption of any new) applicable laws or regulations, or in the interpretation of applicable laws or regulations by any Governmental Authority or other regulatory body charged with the administration thereof, should make it (or in the good faith judgment of such Lender raise a substantial question as to whether it is) unlawful for a Lender to make, maintain or fund any LIBOR Rate Loan, then (a) such Lender shall promptly notify each of the other parties hereto, (b) upon the effectiveness of such event and so long as such unlawfulness shall continue, the obligation of such Lender to make or Continue LIBOR Rate Loans shall be suspended and any request by the Borrower for LIBOR Rate Loans shall, as to such Lender, be deemed to be a request for a Base Rate Loan, and (c) on the last day of the current Loan Period for such Lender’s LIBOR Rate Loans (or, in any event, if such Lender so requests on such earlier date as may be required by the relevant law, regulation or interpretation) such Lender’s Committed Loans which are LIBOR Rate Loans shall cease to be maintained as LIBOR Rate Loans and shall thereafter bear interest at a floating rate per annum equal to the Base Rate. If at any time the event giving rise to such unlawfulness shall no longer exist, then such Lender shall promptly notify the Borrower and the Agent.

Changes in Law Rendering Certain Loans Unlawful. In the event that any change in (including the adoption of any new) applicable laws or regulations, or in the interpretation of applicable laws or regulations by any Governmental Authority or other regulatory body charged with the administration thereof, should make it (or in the good faith judgment of such Lender Bank raise a substantial question as to whether it is) unlawful for a Lender Bank to make, maintain or fund any LIBOR Rate Loan, then (a) such Lender Bank shall promptly notify each of the other parties hereto, (b) upon the effectiveness of such event and so long as such unlawfulness shall continue, the obligation of such Lender Bank to make or Continue LIBOR Rate Loans shall be suspended and any request Loan to be made by such Bank pursuant to a Revolving Loan Request by the Borrower for LIBOR Rate Loans shall, Company shall be made as to such Lender, be deemed to be a request for a Base Rate Loan, and (c) on the last day of the current Loan Period for such LenderBank’s LIBOR Rate Loans (or, in any event, if such Lender Bank so requests on such earlier date as may be required by the relevant law, regulation or interpretation) such LenderBank’s Committed Loans which are LIBOR Rate Loans shall cease to be maintained as LIBOR Rate Loans and shall thereafter bear interest at a floating rate per annum equal to the Base Rate. If at any time the event giving rise to such unlawfulness shall no longer exist, then such Lender Bank shall promptly notify the Borrower Company and the Agent.

Changes in Law Rendering Certain Loans Unlawful. In the event that any change in (including the adoption of any new) applicable laws or regulations, or any change in the interpretation of applicable laws or regulations by any Governmental Authority governmental or other regulatory body charged with the administration thereof, should make it (or in the good faith judgment of such Lender raise a substantial question as to whether it is) unlawful for a Lender the Bank or the Lending Office of the Bank to make, maintain or fund any LIBOR Rate LoanLoans, then (a) such Lender the Bank shall promptly notify each of the other parties heretoBorrower, (b) the obligation of the Bank to make or convert into LIBOR Rate Loans made unlawful for the Bank shall, upon the effectiveness of such event and so long as such unlawfulness shall continueevent, be suspended for the obligation duration of such Lender to make or Continue LIBOR Rate Loans shall be suspended and any request by the Borrower for LIBOR Rate Loans shall, as to such Lender, be deemed to be a request for a Base Rate Loanunlawfulness, and (c) on the last day of the current Loan Interest Period for such Lender’s LIBOR Rate Loans (or, in any event, if such Lender the Bank so requests requests, on such earlier date as may be required by the relevant law, regulation or interpretation) ), the LIBOR Rate Loans shall, unless then repaid in full, automatically convert to Prime Rate Loans. If conditions subsequently change so that the foregoing conditions no longer exist, the Bank will promptly notify the Borrower thereof, and upon the receipt of such Lender’s Committed Loans which are notice, the obligations of the Bank to make or continue LIBOR Rate Loans shall cease to be maintained as LIBOR Rate Loans and shall thereafter bear interest at a floating rate per annum equal to the Base Rate. If at any time the event giving rise to such unlawfulness shall no longer exist, then such Lender shall promptly notify the Borrower and the Agentreinstated.

Changes in Law Rendering Certain Loans Unlawful. In the event that any change in (including the adoption of any new) applicable laws or regulations, or in the interpretation of applicable laws or regulations by any Governmental Authority or other regulatory body charged with the administration thereof, should make it (or in the good faith judgment of such Lender Bank raise a substantial question as to whether it is) unlawful for a Lender Bank to make, maintain or fund any LIBOR Rate Loan, then (a) such Lender Bank shall promptly notify each of the other parties hereto, (b) upon the effectiveness of such event and so long as such unlawfulness shall continue, the obligation of such Lender Bank to make or Continue LIBOR Rate Loans shall be suspended and any request by the Borrower for LIBOR Rate Loans shall, as to such LenderBank, be deemed to be a request for a Loan based on the Base Rate LoanRate, and (c) on the last day of the current Loan Period for such Lender’s LIBOR Rate Bank's Loans (or, in any event, if such Lender Bank so requests on such earlier date as may be required by the relevant law, regulation or interpretation) such Lender’s Committed Loans which are LIBOR Rate Bank's Loans shall cease to be maintained as LIBOR Rate Loans and shall thereafter bear interest at a floating rate per annum equal based on the Base Rate and (d) no Bank shall be under any obligation to make any Loan based on LIBOR, but shall make Loans hereunder based on the Base Rate. If at any time the event giving rise to such unlawfulness shall no longer exist, then such Lender Bank shall promptly notify the Borrower and the Agent.

Changes in Law Rendering Certain Loans Unlawful. In the event that any change in (including the adoption of any new) applicable laws or regulations, or in the interpretation of applicable laws or regulations by any Governmental Authority or other regulatory body charged with the administration thereof, should make it (or in the good faith judgment of such Lender Bank raise a substantial question as to whether it is) unlawful for a Lender Bank to make, maintain or fund any LIBOR Rate Loan, then (a) such Lender Bank shall promptly notify each of the other parties hereto, (b) upon the effectiveness of such event and so long as such unlawfulness shall continue, the obligation of such Lender Bank to make or Continue LIBOR Rate Loans shall be suspended and any request by the Borrower Company for LIBOR Rate Loans shall, as to such LenderBank, be deemed to be a request for a Base Rate Loan, if said LIBOR Rate Loan is a Loan, and (c) on the last day of the current Loan Period for such LenderBank’s LIBOR Rate Loans (or, in any event, if such Lender Bank so requests on such earlier date as may be required by the relevant law, regulation or interpretation) such LenderBank’s Committed Loans which are LIBOR Rate Loans shall cease to be maintained as LIBOR Rate Loans and shall thereafter bear interest at a floating rate per annum equal to the Base Rate, if said LIBOR Rate Loan is a Loan. If at any time the event giving rise to such unlawfulness shall no longer exist, then such Lender Bank shall promptly notify the Borrower Company and the Agent.