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

Changes in Law Rendering LIBOR Loans Unlawful. If at any time there is a Change in Law, which shall make it unlawful for any Bank to fund any LIBOR Loan that it is committed to make hereunder with moneys obtained in the eurodollar market, the commitment of such Bank to fund such LIBOR Loan shall, upon the happening of such event forthwith be suspended for the duration of such illegality, and such Bank shall by written notice to Borrower and Agent declare that its commitment with respect to such LIBOR Loan has been so suspended and, if and when such illegality ceases to exist, such suspension shall cease and such Bank shall similarly notify Borrower and Agent. If any such Change in Law shall make it unlawful for any Bank to continue in effect the funding in the applicable eurodollar market of any LIBOR Loan previously made by it hereunder, such Bank shall, upon the happening of such event, notify Borrower, Agent and the other Banks thereof in writing stating the reasons therefor, and Borrower shall, on the earlier of (a) the last day of the then current Interest Period or (b) if required by such law, regulation or interpretation, on such date as shall be specified in such notice, either convert such LIBOR Loan to a Base Rate Loan or prepay such LIBOR Loan to the Banks in full. Any such prepayment or conversion shall be accompanied by any amount required to be paid pursuant to Sections 3.4 and 3.8 hereof.

Changes in Law Rendering LIBOR Loans Unlawful. If at any time there is a any Change in Law, which Law shall make it unlawful for any Bank Lender to fund any LIBOR Loan that Loans which it is committed to make hereunder with moneys obtained in the eurodollar Eurodollar market, the commitment of such Bank Lender to fund such LIBOR Loan Loans shall, upon the happening of such event event, forthwith be suspended for the duration of such illegality, and such Bank Lender shall by written notice to Borrower the Borrowers and the Agent declare that its commitment Commitment with respect to such LIBOR Loan Loans has been so suspended and, if and when such illegality ceases to exist, such suspension shall cease and such Bank Lender shall similarly notify Borrower the Borrowers and the Agent. If any such Change in Law change shall make it unlawful for any Bank Lender to continue in effect the funding in the applicable eurodollar Eurodollar market of any LIBOR Loan previously made by it hereunder, such Bank Lender shall, upon the happening of such event, notify Borrowerthe Borrowers, the Agent and the other Banks Lenders thereof in writing stating the reasons therefor, and Borrower the Borrowers shall, on the earlier of (ai) the last day of the then current Interest Period or (bii) if required by such lawLaw, regulation or interpretation, on such date as shall be specified in such notice, either convert such all LIBOR Loan Loans to a Base Prime Rate Loan Loans to the extent permissible under this Agreement or prepay such all LIBOR Loan Loans to the Banks Lenders in full. Any such prepayment or conversion shall be accompanied by any amount required entitle the Lenders to be paid pursuant to Sections 3.4 and 3.8 prepayment compensation as provided in Section 3.3 hereof.

Changes in Law Rendering LIBOR Loans Unlawful. If at any time there is a any Regulatory Change in Law, which shall make it unlawful for any Bank Lender to fund any LIBOR Loan that which it is has committed to make hereunder with moneys obtained in the eurodollar applicable Eurodollar market, such Lender shall notify the commitment Administrative Agent and the Borrower, and the obligation of such Bank Lender to fund such LIBOR Loan shall, upon the happening of such event event, forthwith be suspended for the duration of such illegality, illegality and such Bank shall any request by written notice to the Borrower and Agent declare that its commitment with respect to such for a LIBOR Loan has been so suspended and, if and when of such illegality ceases Lender shall be deemed to exist, such suspension shall cease and such Bank shall similarly notify Borrower and Agentbe a request for a Base Rate Loan. If any such Change in Law shall make change makes it unlawful for any Bank Lender to continue in effect the funding in the applicable eurodollar Eurodollar market of any LIBOR Loan previously made by it hereunder, such Bank Lender shall, upon the happening of such event, notify Borrower, the Administrative Agent and the other Banks Borrower thereof in writing stating the reasons therefor, and the Borrower shall, on the earlier of (a) the last day of the then current Interest Period or (b) if required by such law, regulation or interpretation, Regulatory Change on such date as shall be specified in such notice, either convert all such LIBOR Loan Loans of such Lender to a Base Rate Loan Loans or prepay all such Lender's LIBOR Loan to the Banks Loans in full. Any such prepayment or conversion shall be accompanied by any amount required to be paid pursuant to Sections 3.4 and 3.8 hereof.

Changes in Law Rendering LIBOR Loans Unlawful. If at any time there is a Change in Law, which shall make it unlawful for any Bank to fund any LIBOR Loan that it is committed to make hereunder with moneys obtained in the eurodollar market, the commitment of such Bank to fund such LIBOR Loan shall, upon the happening of such event forthwith be suspended for the duration of such illegality, and such Bank shall by written notice to Borrower and Agent declare that its commitment with respect to such LIBOR Loan has been so suspended and, if and when such illegality ceases to exist, such suspension shall cease and such Bank shall similarly notify Borrower and Agent. If any such Change in Law shall make it unlawful for any Bank to continue in effect the funding in the applicable eurodollar market of any LIBOR Loan previously made by it hereunder, such Bank shall, upon the happening of such event, notify Borrower, Agent and the other Banks thereof in writing stating the reasons therefor, and Borrower shall, on the earlier of (a) the last day of the then current Interest Period or (b) if required by such law, regulation or interpretation, on such date as shall be specified in such notice, either convert such LIBOR Loan to a Base Rate Loan or prepay such LIBOR Loan to the Banks in full. Any such prepayment or conversion shall be accompanied by any amount required subject to be paid pursuant to Sections 3.4 and 3.8 the prepayment fees described in Section 2.4 hereof.

Changes in Law Rendering LIBOR Loans Unlawful. If at any time there is a any Change in Law, which Law shall make it unlawful for any Bank Lender to fund any LIBOR Loan that Loans which it is committed to make hereunder with moneys obtained in the eurodollar Eurodollar market, the commitment of such Bank Lender to fund such LIBOR Loan Loans shall, upon the happening of such event event, forthwith be suspended for the duration of such illegality, and such Bank Lender shall by written notice to Borrower the Borrowers and the Agent declare that its commitment Commitment with respect to such LIBOR Loan Loans has been so suspended and, if and when such illegality ceases to exist, such suspension shall cease and such Bank Lender shall similarly notify Borrower the Borrowers and the Agent. If any such Change in Law change shall make it unlawful for any Bank Lender to continue in effect the funding in the applicable eurodollar Eurodollar market of any LIBOR Loan previously made by ​ ​ it hereunder, such Bank Lender shall, upon the happening of such event, notify Borrowerthe Borrowers, the Agent and the other Banks Lenders thereof in writing stating the reasons therefor, and Borrower the Borrowers shall, on the earlier of (ai) the last day of the then current Interest Period or (bii) if required by such lawLaw, regulation or interpretation, on such date as shall be specified in such notice, either convert such all LIBOR Loan Loans to a Base Prime Rate Loan Loans to the extent permissible under this Agreement or prepay such all LIBOR Loan Loans to the Banks Lenders in full. Any such prepayment or conversion shall be accompanied by any amount required entitle the Lenders to be paid pursuant to Sections 3.4 and 3.8 prepayment compensation as provided in Section 3.3 hereof.