Common use of Eurodollar Rate Lending Unlawful Clause in Contracts

Eurodollar Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Lenders, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any central bank or other governmental authority asserts that it is unlawful, for such Lender to make, continue or maintain any Loan as, or to convert any Loan into, a Eurodollar Rate Loan, the obligations of all Lenders to make, continue, maintain or convert any such Loans shall, upon such determination, forthwith be suspended until such Lender shall notify the Agent that the circumstances causing such suspension no longer exist, and all Eurodollar Rate Loans shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 2 contracts

Samples: Credit Agreement (Microsemi Corp), Credit Facility Agreement (Horseshoe Gaming LLC)

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Eurodollar Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the LendersAdministrative Agent, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law Law makes it unlawful, or any central bank or other governmental authority Governmental Authority asserts that it is unlawful, for such Lender to make, continue or maintain any Loan as, or to convert any Loan into, a Eurodollar Rate Loan, the obligations of all Lenders such Lender to make, continue, maintain or convert any such Loans Eurodollar Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding Eurodollar Rate Loans of such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law Law or assertion.

Appears in 2 contracts

Samples: Credit Agreement (GrubHub Inc.), Credit Agreement (Lannett Co Inc)

Eurodollar Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower AMRC and the LendersAdministrative Agent, be conclusive and binding on the BorrowerBorrowers) that the introduction of or any change in or in the interpretation of any law Law makes it unlawful, or any central bank or other governmental authority Governmental Authority asserts that it is unlawful, for such Lender to make, continue or maintain any Loan as, or to convert any Loan into, a Eurodollar Rate Loan, the obligations of all Lenders such Lender to make, continue, maintain or convert any such Loans Eurodollar Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding Eurodollar Rate Loans of such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law Law or assertion.

Appears in 2 contracts

Samples: Credit Agreement (Applied Medical Corp), Credit Agreement (Applied Medical Corp)

Eurodollar Rate Lending Unlawful. (a) If any Lender shall determine reasonably determines (which determination shall, upon notice thereof to the Borrower Borrowers and the LendersAdministrative Agent, be conclusive and binding on the BorrowerBorrowers absent manifest error) that the introduction of or any change in or in the interpretation of any law Law makes it unlawful, or any central bank or other governmental authority Governmental Authority asserts that it is unlawful, for such Lender to make, continue maintain or maintain fund any Loan as, or to convert any Loan into, as a Eurodollar Rate Loan, the obligations of all Lenders such Lender to make, continue, maintain or convert fund any such Loans Loan as a Eurodollar Loan shall, upon such determination, forthwith be suspended until such Lender shall notify notifies the Administrative Agent that the circumstances causing such suspension no longer exist, and all Eurodollar Rate Loans of such Lender shall automatically convert into Base Rate Loans at the end of the then then-current Interest Periods with respect thereto or sooner, if required by such law Law or assertion.. Upon any such conversion the Borrowers shall pay any accrued

Appears in 2 contracts

Samples: Revolving Credit Agreement (Renewable Energy Group, Inc.), Revolving Credit Agreement (Renewable Energy Group, Inc.)

Eurodollar Rate Lending Unlawful. If any Lender shall in good faith determine (which determination shall, upon notice thereof to the Borrower and the LendersAdministrative Agent, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any central bank or other governmental authority Governmental Authority asserts that it is unlawful, for such Lender to make, make or continue or maintain any Loan as, or to convert any Loan into, a Eurodollar Rate Loan, the obligations of all Lenders such Lender to make, continue, maintain continue or convert any such Loans Eurodollar Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding Eurodollar Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 2 contracts

Samples: Assignment, Amendment and Restatement Agreement (Global Power Equipment Group Inc/), Credit Agreement (Global Power Equipment Group Inc/)

Eurodollar Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the LendersAdministrative Agent, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any central bank or other governmental authority Governmental Authority asserts that it is unlawful, for such Lender to make, make or continue or maintain any Revolving Loan as, or to convert any Revolving Loan into, a Eurodollar Rate Revolving Loan, the obligations of all Lenders such Lender to make, continue, maintain continue or convert any such Loans Eurodollar Revolving Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding Eurodollar Rate Revolving Loans payable to such Lender shall automatically convert into Base Rate ABR Revolving Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or such assertion.

Appears in 1 contract

Samples: Revolving Credit Agreement (Mips Technologies Inc)

Eurodollar Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower Borrowers, the Administrative Agent and the Lenders, be conclusive and binding on the BorrowerBorrowers) that the introduction of or any change in or in the interpretation of any law Applicable Law makes it unlawful, or any central bank or other governmental authority asserts that it is unlawful, for such Lender to make, continue or maintain any Loan as, or to convert any Loan into, a Eurodollar Rate Loan, the obligations of all Lenders such Lender to make, continue, maintain or convert any such type of Loans shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all Eurodollar Rate Loans shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law Applicable Law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Bergen Brunswig Corp)

Eurodollar Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower Wxxxx Acquisition and the LendersAdministrative Agent, be conclusive and binding on the BorrowerBorrowers) that the introduction of or any change in or in the interpretation of any law Law makes it unlawful, or any central bank or other governmental authority Governmental Authority asserts that it is unlawful, for such Lender to make, continue or maintain any Loan as, or to convert any Loan into, a accrue interest on the Loans at the Adjusted Eurodollar Rate LoanRate, the obligations of all the Lenders to make, continue, maintain or convert any such continue to accrue interest on the Loans at the Adjusted Eurodollar Rate shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all Eurodollar Rate Loans shall automatically convert into Base Rate Loans automatically, at the end of the then current Interest Periods with respect thereto or soonerPeriod, if required by such law or assertioncontinue to accrue interest as provided in Section 4.12.

Appears in 1 contract

Samples: Credit Agreement (Wells Timberland REIT, Inc.)

Eurodollar Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower Borrowers, the Administrative Agent and the Lenders, be conclusive and binding on the each Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any central bank or other governmental authority asserts that it is unlawful, for such Lender to make, continue or maintain any Loan as, or to convert any Loan into, a Eurodollar Rate LoanLoan of a certain type, the obligations of all Lenders such Lender to make, continue, maintain or convert into any such Loans shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding Eurodollar Rate Loans of such type of such Lender shall automatically convert into Base Rate ABR Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.then

Appears in 1 contract

Samples: Credit Agreement (Dollar Thrifty Automotive Group Inc)

Eurodollar Rate Lending Unlawful. If any the Lender shall determine (which determination shall, upon notice thereof to the Borrower and the LendersBorrower, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any central bank or other governmental authority asserts that it is unlawful, for such the Lender to make, continue or maintain any Loan as, or to convert any Loan into, a Eurodollar Rate Loan, the obligations of all Lenders the Lender to make, continue, maintain or convert any such Loans shall, upon such determination, forthwith be suspended until such the Lender shall notify the Agent Borrower that the circumstances causing such suspension no longer exist, and all Eurodollar Rate Loans shall automatically convert into Base Reference Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Kemper High Income Trust)

Eurodollar Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Lenders, be conclusive and binding on the Borrower) that after the Effective Date the introduction of or any change in or in the interpretation of any law makes it unlawful, or any central bank or other governmental government authority asserts that it is unlawful, for such Lender to make, continue or maintain any Loan as, or to convert any Loan into, a Eurodollar Rate LoanLoan of a certain type, the obligations of all Lenders such Lender to make, continue, maintain or convert any such Loans shall, upon such determination, forthwith be suspended until such Lender shall notify the Agent that the circumstances causing such suspension no longer exist, and all Eurodollar Rate Loans of such type shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Cornerstone Propane Partners Lp)

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Eurodollar Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Lenders, be conclusive and binding on the Borrower) that after the Refunding Effective Date the introduction of or any change in or in the interpretation of any law makes it unlawful, or any central bank or other governmental government authority asserts that it is unlawful, for such Lender to make, continue or maintain any Loan as, or to convert any Loan into, a Eurodollar Rate LoanLoan of a certain type, the obligations of all Lenders such Lender to make, continue, maintain or convert any such Loans shall, upon such determination, forthwith be suspended until such Lender shall notify the Agent that the circumstances causing such suspension no longer exist, and all Eurodollar Rate Loans of such type shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Refunding Credit Agreement (Cornerstone Propane Partners Lp)

Eurodollar Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Lenders, be conclusive and binding on the Borrower) that after the Effective Date the introduction of or any change in or in the interpretation of any law makes it unlawful, or any central bank or other governmental government authority asserts that it is unlawful, for such Lender to make, continue or maintain any Loan as, or to convert any Loan into, a Eurodollar Rate LoanLoan of a certain type, the obligations of all Lenders to make, continue, maintain or convert any such Loans shall, upon such determination, forthwith be suspended until such Lender shall notify the Agent that the circumstances causing such suspension no longer exist, and all Eurodollar Rate Loans of such type shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Cornerstone Propane Partners Lp)

Eurodollar Rate Lending Unlawful. If any Lender -------------------------------- shall determine in good faith (which determination shall, upon notice thereof to the Borrower and the Lenders, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any central bank or other governmental authority Governmental Authority asserts that it is unlawful, for such Lender to make, continue or maintain any Loan as, or to convert any Loan into, a Eurodollar Rate Loan, the obligations of all the Lenders to make, continue, maintain or convert into any such Loans shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all Eurodollar Rate Loans shall automatically convert into Base Reference Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Manor Investment Co Inc)

Eurodollar Rate Lending Unlawful. If any the Lender shall determine (which determination shall, upon notice thereof to the Borrower and the LendersBorrower, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any central bank or other governmental authority asserts that it is unlawful, for such the Lender to make, continue or maintain any Loan as, or to convert any Loan into, a Eurodollar Rate Loan, the obligations of all Lenders the Lender to make, continue, maintain or convert any such Loans shall, upon such determination, forthwith be suspended until such the Lender shall notify the Agent Borrower that the circumstances causing such suspension no longer exist, and all Eurodollar Rate Loans of such type shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Subordinated Credit Agreement (Zimmerman Sign Co)

Eurodollar Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower Borrowers, the Agent and the Lenders, be conclusive and binding on the BorrowerBorrowers) that the introduction of or any change in or in the interpretation of any law Applicable Law makes it unlawful, or any central bank or other governmental authority asserts that it is unlawful, for such Lender to make, continue or maintain any Loan as, or to convert any Loan into, a Eurodollar Rate Loan, the obligations of all Lenders such Lender to make, continue, maintain or convert any such type of Loans shall, upon such determination, forthwith be suspended until such Lender shall notify the Agent that the circumstances causing such suspension no longer exist, and all Eurodollar Rate Loans shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law Applicable Law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Bergen Brunswig Corp)

Eurodollar Rate Lending Unlawful. If any Lender the Bank shall determine (which determination shall, upon notice thereof to the Borrower and the Lenders, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law law, rule, regulation or guideline, (whether or not having the force of law) makes it unlawful, or any central bank or other governmental authority asserts that it is unlawful, for such Lender the Bank to make, continue or maintain any Loan as, or to convert any Loan into, a Eurodollar Rate Loan, the obligations of all Lenders the Bank to make, continue, maintain or convert into any such Loans Eurodollar Rate Loan shall, upon such determination, forthwith be suspended until such Lender the Bank shall notify the Agent Borrower that the circumstances causing such suspension no longer exist, and all Eurodollar Rate Loans shall automatically convert into Base Prime Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertionLoans.

Appears in 1 contract

Samples: Line of Credit Note (Connecticut Water Service Inc / Ct)

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