Common use of Changes in Law Rendering Clause in Contracts

Changes in Law Rendering. Eurodollar Lending Unlawful. If 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 or other regulatory body charged with the administration thereof, should make it (or in the good faith judgment of any Lender cause a substantial question as to whether it is) unlawful for any Lender to make, maintain or fund any Eurodollar Tranche, then such Lender shall promptly notify the Company and the Agent and, so long as such circumstances shall continue, (a) such Lender shall have no obligation to make or convert into Eurodollar Tranches (but shall make or maintain Base Rate Tranches concurrently with the making of or conversion into Eurodollar Tranches by the Lenders which are not so affected, in each case in an amount equal to such Lender's pro rata share of all Eurodollar Tranches which would be made or converted into at such time in the absence of such circumstances) and (b) on the last day of the current Interest Period for each Eurodollar Tranche of such Lender (or, in any event, on such earlier date as may be required by the relevant law, regulation or interpretation), such Eurodollar Tranche shall, unless then repaid in full, automatically convert to a Base Rate Tranche. Each Base Rate Tranche maintained by a Lender which, but for the circumstances described in the foregoing sentence, would be a Eurodollar Tranche (an "Affected Tranche") shall remain outstanding for the same period as the ---------------- Group of Eurodollar Tranches of which such Affected Tranche would be a part absent such circumstances.

Appears in 1 contract

Samples: Term Loan Agreement

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Changes in Law Rendering. Eurodollar Lending Unlawful. If 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 or other regulatory body charged with the administration thereof, should make it (or in the good faith judgment of any Lender cause a substantial question as to whether it is) unlawful for any Lender to make, maintain or fund any Eurodollar Tranche, then such Lender shall promptly notify the Company and the Agent and, so long as such circumstances shall continue, (a) such Lender shall have no obligation to make or convert into Eurodollar Tranches (but shall make or maintain Base Rate Tranches concurrently with the making of or conversion into Eurodollar Tranches by the Lenders which are not so affected, in each case in an amount equal to such Lender's pro rata share of all Eurodollar Tranches which would be made or converted into at such time in the absence of such circumstances) and (b) on the last day of the current Interest Period for each Eurodollar Tranche of such Lender (or, in any event, on such earlier date as may be required by the relevant law, regulation or interpretation), such Eurodollar Tranche shall, unless then repaid in full, automatically convert to a Base Rate Tranche. Each Base Rate Tranche maintained by a Lender which, but for the circumstances described in the foregoing sentence, would be a Eurodollar Tranche (an "Affected Tranche") shall remain outstanding for the same period as the ---------------- Group of Eurodollar Tranches of which such Affected Tranche would be a part absent such circumstances.

Appears in 1 contract

Samples: Term Loan Agreement (United Rentals Inc /De)

Changes in Law Rendering. Eurodollar Lending LIBOR Loans Unlawful. If any change ---------------------------------------------------- in (including in, or the adoption of any new) applicable laws , law or regulationsregulation, or any change in the interpretation of any applicable laws law or regulations regulation by any governmental or other regulatory body charged with the administration thereof, should make it (or in the good faith judgment of any Lender cause a substantial question as to whether it is) unlawful for any Lender to make, maintain or fund any Eurodollar TrancheLIBOR Loans, then such Lender shall promptly notify each of the Company and the Agent other parties hereto and, so long as such circumstances shall continue, (a) such Lender shall have no obligation to make make, continue or convert any Base Rate Loan into Eurodollar Tranches a LIBOR Loan (but shall make or maintain Base Rate Tranches Loans concurrently with the making or continuation of or conversion of Base Rate Loans into Eurodollar Tranches LIBOR Loans by the Lenders which are not so affected, in each case in an amount equal to such Lender's pro rata share the amount of all Eurodollar Tranches LIBOR Loans which would be made made, continued or converted into by such Lender at such time in the absence of such circumstances) and (b) on the last day of the current Interest Period for each Eurodollar Tranche LIBOR Loan of such Lender (or, in any event, on such earlier date as may be required by the relevant law, regulation or interpretation), such Eurodollar Tranche LIBOR Loan shall, unless then repaid in full, automatically convert to a Base Rate TrancheLoan. Each Base Rate Tranche maintained Loan made by a Lender which, but for the circumstances described in the foregoing sentence, would be a Eurodollar Tranche LIBOR Loan (an "Affected Tranche"Loan”) shall remain outstanding for the same period as corresponding to the ---------------- Group of Eurodollar Tranches LIBOR Loans of which such Affected Tranche Loan would be a part absent such circumstances.

Appears in 1 contract

Samples: Credit Agreement (UTi WORLDWIDE INC)

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Changes in Law Rendering. Eurodollar Lending Tranches Unlawful. If In the event that the adoption or phase-in of any Applicable Law, or any change ---------------------------------------------------- therein or in (including the adoption of any new) applicable laws or regulations, existing Applicable Law or any change in the interpretation of applicable laws or regulations thereof by any governmental or other regulatory body Governmental Authority charged with the interpretation or administration thereof, should shall make it (or in the good faith judgment of any Lender cause a substantial question as to whether it is) unlawful for any Lender to make, maintain or fund any Eurodollar TrancheTranches, then such Lender shall promptly notify the Company Borrower, the other Lenders and the Administrative Agent and, so long as such circumstances shall continue, (a) such Lender shall thereafter have no obligation to fund or make or convert into available Eurodollar Tranches (but shall make or maintain fund Base Rate Tranches concurrently with the making of the Revolving Loans, or the continuation or conversion into Eurodollar Tranches by the Lenders which are not so affected, in each case in an amount equal to such Lender's pro rata Ratable share of all Eurodollar Tranches which that would be made or converted into funded at such time in the absence of such circumstances) ), and (b) on the last day of the current Interest Period for each any Eurodollar Tranche of such Lender (or, in any event, if such Lender so requests, on such earlier date as may be required by the relevant law, regulation or interpretationApplicable Law), such Eurodollar Tranche shall, unless then repaid in full, automatically convert to a Base Rate Tranche. Each Base Rate Tranche maintained funded by a Lender which, but for the circumstances described in the foregoing sentence, would be have been a Eurodollar Tranche (an "Affected Tranche") shall shall, notwithstanding any other provision of this Agreement, remain outstanding for the same period as the ---------------- Group of Eurodollar Tranches of which such Affected Tranche would be a have been part absent such circumstances.

Appears in 1 contract

Samples: Credit Agreement (Chiquita Brands International Inc)

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