Common use of HLT Classification Clause in Contracts

HLT Classification. In the event that after the date hereof the Loans hereunder are classified as a "highly leveraged transaction" (an "HLT Classification") by any Governmental Authority having jurisdiction over any Lender, such Lender may in its discretion from time to time so notify the Agent, and upon receiving such notice the Agent shall promptly give notice of such event to the Borrowers, the Issuing Banks and the Lenders. In such event the parties hereto shall commence negotiations to agree on revised Facility Fees, interest rates and Applicable Margins hereunder. If the parties hereto fail to agree on such matters in their respective absolute discretion within 60 days of the notice given by the Agent referred to above, then the Required Lenders may at any time or from time to time thereafter direct the Agent to (a) by ten Business Days' notice to the Borrowers, terminate any or all of the Commitments, and any such Commitments shall thereupon terminate, or (b) by ten Business Days' notice to the Borrowers, declare the Obligations, together with (without duplication) accrued interest thereon, to be, and the Obligations shall thereupon become, immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived, and an action therefor shall immediately accrue. The Lenders acknowledge that an HLT Classification is not an Event of Default or Potential Default hereunder.

HLT Classification. In the event that after the date hereof the Loans hereunder are classified as a "highly leveraged transaction" (an "HLT Classification") by any Governmental Authority having jurisdiction over any Lender, such Lender may in its discretion from time to time so notify the Agent, and upon receiving such notice the Agent shall promptly give notice of such event to the Borrowers, the Issuing Banks Borrowers and the Lenders. In such event the parties hereto shall commence negotiations to agree on revised Facility Fees, interest rates and Applicable Margins hereunder. If the parties hereto fail to agree on such matters in their respective absolute discretion within 60 days of the notice given by the Agent referred to above, then the Required Lenders may at any time or from time to time thereafter direct the Agent to (a) by ten Business Days' notice to the Borrowers, terminate any or all of the Commitments, and any such Commitments shall thereupon terminate, or (b) by ten Business Days' notice to the Borrowers, declare the Obligations, together with (without duplication) accrued interest thereon, to be, and the Obligations shall thereupon become, immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived, and an action therefor shall immediately accrue. The Lenders acknowledge that an HLT Classification is not an Event of Default or Potential Default hereunder.

HLT Classification. In the event that after the date hereof the Loans hereunder are classified as a "highly leveraged transaction" (an "HLT Classification") by any Governmental Authority having jurisdiction over any Lender, such Lender may in its discretion from time to time so notify the Agent, and upon receiving such notice the Agent shall promptly give notice of such event to the Borrowers, the Issuing Banks Borrower and the Lenders. In such event the parties hereto shall commence negotiations to agree on revised Facility Revolving Credit Commitment Fees, interest rates and Applicable Margins hereunder. If the parties hereto fail to agree on such matters in their respective absolute discretion within 60 days of the notice given by the Agent referred to above, then the Required Lenders may at any time or from time to time thereafter direct the Agent to (a) by ten Business Days' notice to the BorrowersBorrower, terminate any or all of the Revolving Credit Commitments, and any such the Revolving Credit Commitments shall thereupon terminate, or (b) by ten Business Days' notice to the BorrowersBorrower, declare the ObligationsLoans, together with (without duplication) accrued interest thereon, to be, and the Obligations Loans shall thereupon become, immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived, and an action therefor shall immediately accrue. The Lenders acknowledge that an HLT Classification is not an Event of Default or Potential Default hereunder.

HLT Classification. In the event that after the date hereof the Loans hereunder are classified as a "highly leveraged transaction" (an "HLT Classification") by any Governmental Authority having jurisdiction over any Lender, such Lender may in its discretion from time to time so notify the Agent, and upon receiving such notice the Agent shall promptly give notice of such event to the BorrowersBorrower, the Issuing Banks and the Lenders. In such event the parties hereto shall commence negotiations to agree on revised Facility Revolving Credit Commitment Fees, interest rates and Applicable Margins hereunder. If the parties hereto fail to agree on such matters in their respective absolute discretion within 60 days of the notice given by the Agent referred to above, then the Required Lenders may at any time or from time to time thereafter direct the Agent to (a) by ten Business Days' notice to the BorrowersBorrower, terminate any or all of the Revolving Credit Commitments, and any such the Revolving Credit Commitments shall thereupon terminate, or (b) by ten Business Days' notice to the BorrowersBorrower, declare the Obligations, together with (without duplication) accrued interest thereon, to be, and the Obligations shall thereupon become, immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived, and an action therefor shall immediately accrue. The Lenders acknowledge that an HLT Classification is not an Event of Default or Potential Default hereunder.

HLT Classification. In The Agent shall promptly give notice to the event Borrower and each Lender if at any time (a) the Agent determines in its reasonable judgment (based upon any Law or guideline or interpretation or application thereof by any Governmental Authority charged with the interpretation or administration thereof or compliance with any request or directive of any Governmental Authority (whether or not having the force of law), now existing or hereafter adopted), that after the date hereof any portion of the Loans hereunder are under this Agreement should be classified as a "highly leveraged transaction" (or any similar or successor classification then in effect) (an "HLT Classification"), (b) the Agent is informed by any Governmental Authority having jurisdiction over that any Lenderportion of the Loans under this Agreement are or should be subject to HLT Classification, or (c) any Lender is informed by any Governmental Authority that any portion of the Loans under this Agreement contemplated hereby are or should be subject to HLT Classification, and such Lender may in its discretion from time to time so notify the Agent, and upon receiving such notice the Agent shall promptly give gives notice of such event fact to the Borrowers, the Issuing Banks and the LendersAgent. In such event the parties hereto shall commence negotiations in good faith with a view to agree agreeing on revised Facility Feesinterest rates, interest rates fees and Applicable Margins hereunderother terms and conditions hereof, consistent with then-current market requirements for transactions subject to HLT Classification. If the parties hereto fail to agree on such matters in their respective absolute discretion within 60 30 days of the notice given by the Agent referred to above, then the Agent, acting at the request of the Required Lenders Lenders, may at any time or from time to time thereafter direct the Agent to (a) by ten Business Days' give a further notice to the BorrowersBorrower, terminate any or all and effective as of the Commitmentsdate of such further notice (i) each Applicable Margin set forth in Section 2.06(b) hereof shall be increased by 2.50%, and any such Commitments (ii) the percentage applicable to calculation of the Revolving Credit Commitment Fee in Section 2.02(a) hereof shall thereupon terminatebe increased by .250%. Except as set forth above, or (b) by ten Business Days' notice to the Borrowers, declare the Obligations, together with (without duplication) accrued interest thereon, to be, this Agreement shall remain in full force and the Obligations shall thereupon become, immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived, and an action therefor shall immediately accrue. The Lenders acknowledge that an HLT Classification is not an Event of Default or Potential Default hereundereffect.