Common use of Fixed Rate Lending Unlawful Clause in Contracts

Fixed Rate Lending Unlawful. If as the result of any Regulatory Change any Bank (the "AFFECTED BANK") shall determine (which determination shall, in the absence of manifest error, be conclusive and binding on the Borrower) that it is unlawful for the Affected Bank to make, continue or maintain a Loan as, or to convert a Loan into, one or more Fixed Rate Loans of a certain type, the obligation of the Affected Bank under Section 4.1 to make, continue or maintain any portion of the principal amount of a Loan as, or to convert such Loan into, one or more Fixed Rate Loans of such type shall, upon such determination (and telephonic notice thereof confirmed in writing to the Agent and the Borrower), forthwith terminate, and the Agent shall, by telephonic notice confirmed in writing to the Borrower and each Bank, declare that such obligation has so terminated, and any portion of the principal amount of a Loan then maintained as one or more Fixed Rate Loans of such type by the Affected Bank shall automatically convert into a Base Rate Loan. If circumstances subsequently change so that the Affected Bank shall determine that it is no longer so affected, the obligation of the Affected Bank under Section 4.1 to make or continue Loans as, or to convert Loans into, Fixed Rate Loans shall, upon such determination (and telephonic notice thereof confirmed in writing to the Agent and the Borrower), forthwith be reinstated, and the Agent shall, by notice to the Borrower and each Bank, declare that such obligation has been so reinstated.

Fixed Rate Lending Unlawful. If as the result of any --------------------------- Regulatory Change any the Bank (the "AFFECTED BANK") shall determine (which determination shall, in the absence of manifest demonstrable error, be conclusive and binding on the Borrower) that it is unlawful for the Affected Bank to make, continue or maintain a Loan as, or to convert a Loan into, one or more Fixed Rate Loans of a certain type, the obligation of the Affected Bank under Section 4.1 to make, continue or maintain any ----------- portion of the principal amount of a Loan as, or to convert such Loan into, one or more Fixed Rate Loans of such type shall, upon such determination (and telephonic notice thereof confirmed in writing to the Agent and the Borrower), forthwith terminate, and the Agent shall, by telephonic notice confirmed in writing to the Borrower and each Bank, declare that such obligation has so terminated, and any portion of the principal amount of a Loan then maintained as one or more Fixed Rate Loans of such type by the Affected Bank shall automatically convert into a Base Rate Loan. If circumstances subsequently change so that the Affected Bank shall determine that it is no longer so affected, the obligation of the Affected Bank under Section 4.1 to make or continue Loans as, or to convert Loans into, ----------- Fixed Rate Loans shall, upon such determination (and telephonic notice thereof confirmed in writing to the Agent and the Borrower), forthwith be reinstated, and the Agent shall, by notice to the Borrower and each Bank, declare that such obligation has been so reinstated.

Fixed Rate Lending Unlawful. If as the result of any Regulatory Change any Bank (the "AFFECTED BANK") Affected Lender shall determine (which determination shall, in the absence of manifest demonstrable error, be conclusive and binding on the Borrower) that it is unlawful for the Affected Bank Lender to make, continue or maintain a Loan as, or to convert a Loan into, one or more Fixed Rate Loans of a certain typeLoans, the obligation of the Affected Bank Lender under Section 4.1 to make, continue or maintain any portion of the principal amount of a Loan as, or to convert such Loan into, one or more Fixed Rate Loans of such type shall, upon such determination (and telephonic notice thereof confirmed in writing to the Administrative Agent and the Borrower), forthwith terminate, and the Administrative Agent shall, by telephonic notice confirmed in writing to the Borrower and each BankLender, declare that such obligation has so terminated, and any portion of the principal amount of a Loan then maintained as one or more Fixed Rate Loans of such type by the Affected Bank Lender shall automatically convert into a Base Rate Loan. If circumstances subsequently change so that the Affected Bank Lender shall determine that it is no longer so affected, the obligation of the Affected Bank Lender under Section 4.1 to make or continue Loans as, or to convert Loans into, Fixed Rate Loans shall, upon such determination (and telephonic notice thereof confirmed in writing to the Administrative Agent and the Borrower), forthwith be reinstated, and the Administrative Agent shall, by notice to the Borrower and each BankLender, declare that such obligation has been so reinstated.

Fixed Rate Lending Unlawful. If as the result of any Regulatory Change any Bank (the "AFFECTED BANK") Affected Lender shall determine (which determination shall, in the absence of manifest demonstrable error, be conclusive and binding on the Borrower) that it is unlawful for the Affected Bank Lender to make, continue or maintain a Loan as, or to convert a Loan into, one or more Fixed Rate Loans of a certain typeLoans, the obligation of the Affected Bank Lender under Section 4.1 SECTION 5.1 to make, continue or maintain any portion of the principal amount of a Loan as, or to convert such Loan into, one or more Fixed Rate Loans of such type shall, upon such determination (and telephonic notice thereof confirmed in writing to the Administrative Agent and the Borrower), forthwith terminate, and the Administrative Agent shall, by telephonic notice confirmed in writing to the Borrower and each BankLender, declare that such obligation has so terminated, and any portion of the principal amount of a Loan then maintained as one or more Fixed Rate Loans of such type by the Affected Bank Lender shall automatically convert into a Base Rate Loan. If circumstances subsequently change so that the Affected Bank Lender shall determine that it is no longer so affected, the obligation of the Affected Bank Lender under Section 4.1 SECTION 5.1 to make or continue Loans as, or to convert Loans into, Fixed Rate Loans shall, upon such determination (and telephonic notice thereof confirmed in writing to the Administrative Agent and the Borrower), forthwith be reinstated, and the Administrative Agent shall, by notice to the Borrower and each BankLender, declare that such obligation has been so reinstated.

Fixed Rate Lending Unlawful. If as the result of any Regulatory Change any Bank (the "AFFECTED BANK") Affected Lender shall determine (which determination shall, in the absence of manifest demonstrable error, be conclusive and binding on the Borrower) that it is unlawful for the Affected Bank Lender to make, continue or maintain a Loan as, or to convert a Loan into, one or more Fixed Rate Loans of a certain typeLoans, the obligation of the Affected Bank Lender under Section 4.1 5.1 to make, continue or maintain any portion of the principal amount of a Loan as, or to convert such Loan into, one or more Fixed Rate Loans of such type shall, upon such determination (and telephonic notice thereof confirmed in writing to the Administrative Agent and the Borrower), forthwith terminate, and the Administrative Agent shall, by telephonic notice confirmed in writing to the Borrower and each BankLender, declare that such obligation has so terminated, and any portion of the principal amount of a Loan then maintained as one or more Fixed Rate Loans of such type by the Affected Bank Lender shall automatically convert into a Base Rate Loan. If circumstances subsequently change so that the Affected Bank Lender shall determine that it is no longer so affected, the obligation of the Affected Bank Lender under Section 4.1 5.1 to make or continue Loans as, or to convert Loans into, Fixed Rate Loans shall, upon such determination (and telephonic notice thereof confirmed in writing to the Administrative Agent and the Borrower), forthwith be reinstated, and the Administrative Agent shall, by notice to the Borrower and each BankLender, declare that such obligation has been so reinstated.