Common use of Changes in Law Rendering Eurodollar Advances Unlawful Clause in Contracts

Changes in Law Rendering Eurodollar Advances Unlawful. If at any time due to any new law, rule, regulation, treaty or directive, or any change therein or in the interpretation or administration thereof by any court, central bank, governmental authority, agency or instrumentality or comparable agency charged with the interpretation or administration thereof, or for any other reason arising subsequent to the date hereof, it shall become unlawful for any Bank to make or fund any Eurodollar Advance which it is committed to make hereunder, the obligation of such Bank to provide Eurodollar Advances shall, upon the happening of such event, forthwith be suspended for the duration of such illegality. If any such event shall make it unlawful for any Bank to continue Eurodollar Advances previously made by it hereunder, such Bank shall, upon the happening of such event, notify the Agent, the Company and the other Bank thereof in writing stating the reasons therefor, and the Company shall, on the earlier of (i) the last day of the then current Interest Period with respect thereto or (ii) if required by such law, rule, regulation, treaty, directive or interpretation, on such date as shall be specified in such notice, either convert such unlawful Eurodollar Advances to Domestic Advances or prepay all such Eurodollar Advances, without any penalty or premium whatsoever (except as provided in Section 6.4), to such Bank in full.

Changes in Law Rendering Eurodollar Advances Unlawful. If at any time due to the adoption of any new law, rule, regulation, treaty or directive, or any change therein or in the interpretation or administration thereof by any court, central bank, governmental authority, agency or instrumentality instrumentality, or comparable agency charged with the interpretation or administration thereof, or for any other reason arising subsequent to the date hereofof this Agreement, it shall become unlawful or impossible for any the Bank to make or fund any Daily Pricing Advances or Eurodollar Advance which it is committed to make hereunderAdvance, the obligation of such the Bank to provide Eurodollar Advances such Advance shall, upon the happening of such event, forthwith be suspended for the duration of such illegalityillegality or impossibility. If any such event shall make it unlawful or impossible for any the Bank to continue any Daily Pricing Advances or Eurodollar Advances Advance previously made by it hereunder, such the Bank shall, upon the happening of such event, notify the Agent, the Company and the other Bank Borrower thereof in writing stating the reasons thereforwriting, and the Company Borrower shall, on at the earlier of (i) time notified by the last day of the then current Interest Period with respect thereto or (ii) if required by such law, rule, regulation, treaty, directive or interpretation, on such date as shall be specified in such noticeBank, either convert each such unlawful Eurodollar Advances Advance to Domestic Advances a Reference Rate Advance or prepay all repay such Eurodollar Advances, without any penalty or premium whatsoever (except as provided in Section 6.4), to such Bank Advance in full, together with accrued interest thereon, subject to the provisions of SECTION 2.6.

Changes in Law Rendering Eurodollar Advances Unlawful. If at any time due to the adoption of any new law, rule, regulation, treaty or directive, or any change therein or in the interpretation or administration thereof by any court, central bank, governmental authority, agency or instrumentality instrumentality, or comparable agency charged with the interpretation or administration thereof, or for any other reason arising subsequent to the date hereofof this Agreement, it shall become unlawful or impossible for any Bank to make or fund any Daily Pricing Advances or Eurodollar Advance which it is committed to make hereunderAdvance, the obligation of such Bank to provide Eurodollar Advances such Advance shall, upon the happening of such event, forthwith be suspended for the duration of such illegalityillegality or impossibility. If any such event shall make it unlawful or impossible for any the Bank to continue any Daily Pricing Advances or Eurodollar Advances Advance previously made by it hereunder, such Bank shall, upon the happening of such event, notify the Agent, the Company Agent and the other Bank Borrower thereof in writing stating the reasons thereforwriting, and the Company Borrower shall, on at the earlier of (i) the last day of the then current Interest Period with respect thereto or (ii) if required time notified by such law, rule, regulation, treaty, directive or interpretation, on such date as shall be specified in such noticeBank, either convert each such unlawful Eurodollar Advances Advance to Domestic Advances a Reference Rate Advance or prepay all repay such Eurodollar Advances, without any penalty or premium whatsoever (except as provided in Section 6.4), to such Bank Advance in full, together with accrued interest thereon, subject to the provisions of SECTION 2.6.