Common use of Illegality and Impossibility Clause in Contracts

Illegality and Impossibility. (a) If the Agent shall determine in good faith that any Governmental Regulation not presently in effect or applicable to the Lenders, or any interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by the Lenders with any new guideline, request or directive of such authority (whether or not having the force of law), including exchange controls, shall make it unlawful or impossible for the Lenders to maintain any LIBOR Rate Loan under this Agreement, the Borrower shall, upon receipt of notice thereof from the Agent, repay in full to the Lenders the then outstanding principal amount of such LIBOR Rate Loan, together with all accrued interest thereon to the date of payment and all amounts due to the Lenders under Section 3.03: (i) on the last day of the then current Loan Period applicable to the LIBOR Rate Loan if the Lender may lawfully continue to maintain such LIBOR Rate Loan to such day, or (ii) immediately if the Agent may not continue to maintain such LIBOR Rate Loan to such day. (b) Notwithstanding Section 3.02(a), if such section would otherwise be applicable, but the Lenders could lawfully maintain the LIBOR Rate Loans at the Base Rate, then during such period as the Lenders cannot maintain the LIBOR Rate Loans, the LIBOR Rate Loans shall bear interest at a per annum rate equal to the Base Rate in effect from time to time. If all events or conditions making it unlawful or impossible for the Lenders to maintain the LIBOR Rate Loans cease to exist, then the LIBOR Rate Loans shall again bear interest at the Adjusted LIBOR Rate commencing on the first day of the Loan Period immediately following the date all such events and conditions so cease to exist.

Illegality and Impossibility. (a) If the Agent shall determine in good faith that any Governmental Regulation not presently in effect or applicable to the LendersBanks, or any interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by the Lenders Banks with any new guideline, request or directive of such authority (whether or not having the force of law), including exchange controls, shall make it unlawful or impossible for the Lenders Banks to maintain any LIBOR Rate Loan under this Agreement, the Borrower shall, upon receipt of notice thereof from the Agent, repay in full to the Lenders Banks the then outstanding principal amount of such LIBOR Rate Loan, together with all accrued interest thereon to the date of payment and all amounts due to the Lenders Banks under Section 3.03: (i) on the last day of the then current Loan Period applicable to the LIBOR Rate Loan if the Lender Bank may lawfully continue to maintain such LIBOR Rate Loan to such day, or (ii) immediately if the Agent may not continue to maintain such LIBOR Rate Loan to such day. (b) Notwithstanding Section 3.02(a), if such section would otherwise be applicable, but the Lenders Banks could lawfully maintain the LIBOR Rate Loans at the Base Rate, then during such period as the Lenders Banks cannot maintain the LIBOR Rate Loans, the LIBOR Rate Loans shall bear interest at a per annum rate equal to the Base Rate in effect from time to time. If all events or conditions making it unlawful or impossible for the Lenders Banks to maintain the LIBOR Rate Loans cease to exist, then the LIBOR Rate Loans shall again bear interest at the Adjusted LIBOR Rate commencing on the first day of the Loan Period immediately following the date all such events and conditions so cease to exist.

Illegality and Impossibility. (a) If the Agent Lender shall determine in good faith that any Governmental Regulation not presently in effect or applicable to the LendersLender, or any interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by the Lenders Lender with any new guideline, request or directive of such authority (whether or not having the force of law), including exchange controls, shall make it unlawful or impossible for the Lenders Lender to maintain any the Loans at the LIBOR Rate Loan or the Daily Reset LIBOR Rate under this Agreement, the Borrower shall, upon receipt of notice thereof from the AgentLender, repay in full to the Lenders Lender the then outstanding principal amount of such LIBOR Rate Loan, together with all accrued interest thereon to the date of payment and all amounts due to the Lenders Lender under Section 3.034.3: (i) on the last day of the then current Loan Period applicable to the a LIBOR Rate Loan if the Lender may lawfully continue to maintain such LIBOR Rate Loan to such day, or (ii) immediately if the Agent Lender may not continue to maintain such LIBOR Rate Loan to such dayor if the Loan is a Daily Reset LIBOR Loan. (b) Notwithstanding Section 3.02(a4.2(a), if such section would otherwise be applicable, but the Lenders Lender could lawfully maintain the Loans based upon the LIBOR Rate Loans or the Daily Reset LIBOR Rate at the Base Prime Rate, then during such period as the Lenders Lender cannot maintain the LIBOR Rate Loans, Loans based upon the LIBOR Rate or the Daily Reset LIBOR Rate, as applicable, such Loans shall bear interest at a per annum rate equal to the Base Prime Rate in effect from time to timetime less one and one-half of one percent (1.50%) in effect. If all events or conditions making it unlawful or impossible for the Lenders Lender to maintain the Loans based upon the LIBOR Rate Loans or the Daily Reset LIBOR Rate cease to exist, then the LIBOR Rate Loans shall again bear interest at the Adjusted LIBOR Rate commencing on (i) the first day of the Loan Period immediately following the date all such events and conditions so cease to existexist with respect to LIBOR Loans and (ii) on the day following the date all such events and conditions so cease to exist with respect to Daily Reset LIBOR Loans.

Illegality and Impossibility. (a) If the Agent shall determine in good faith that any Governmental Regulation not presently in effect or applicable to the Lenders, or any interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by the Lenders with any new guideline, request or directive of such authority (whether or not having the force of law), including exchange controls, shall make it unlawful or impossible for the Lenders to maintain any LIBOR Rate Loan under this Agreement, the Borrower shall, upon receipt of notice thereof from the Agent, repay in full to the Lenders the then outstanding principal amount of such LIBOR Rate Loan, together with all accrued interest thereon to the date of payment and all amounts due to the Lenders under Section 3.033.04: (i) on the last day of the then current Loan Period applicable to the LIBOR Rate Loan if the Lender may lawfully continue to maintain such LIBOR Rate Loan to such day, or (ii) immediately if the Agent may not continue to maintain such LIBOR Rate Loan to such day. (b) Notwithstanding Section 3.02(a3.03(a), if such section would otherwise be applicable, but the Lenders could lawfully maintain the LIBOR Rate Loans at the Base Rate, then during such period as the Lenders cannot maintain the LIBOR Rate Loans, the LIBOR Rate Loans shall bear interest at a per annum rate equal to the Base Rate in effect from time to time. If all events or conditions making it unlawful or impossible for the Lenders to maintain the LIBOR Rate Loans cease to exist, then the LIBOR Rate Loans shall again bear interest at the Adjusted LIBOR Rate commencing on the first day of the Loan Period immediately following the date all such events and conditions so cease to exist.

Illegality and Impossibility. (a) If the Agent Lender shall determine in good faith that any Governmental Regulation not presently in effect or applicable to the LendersLender, or any interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by the Lenders Lender with any new guideline, request or directive of such authority (whether or not having the force of law), including exchange controls, shall make it unlawful or impossible for the Lenders Lender to maintain any Loan at the LIBOR Rate Loan or the Daily Reset LIBOR Rate under this Agreement, the Borrower shall, upon receipt of notice thereof from the AgentLender, repay in full to the Lenders Lender the then outstanding principal amount of such LIBOR Rate Loan, together with all accrued interest thereon to the date of payment and all amounts due to the Lenders Lender under Section 3.033.3: (i) on the last day of the then current Loan Period applicable to the a LIBOR Rate Loan if the Lender may lawfully continue to maintain such LIBOR Rate Loan to such day, or (ii) immediately if the Agent Lender may not continue to maintain such LIBOR Rate Loan to such dayor if the Loan is a Daily Reset LIBOR Loan. (b) Notwithstanding Section 3.02(a3.2(a), if such section would otherwise be applicable, but the Lenders Lender could lawfully maintain the Loans based upon the LIBOR Rate Loans or the Daily Reset LIBOR Rate at the Base Prime Rate, then during such period as the Lenders Lender cannot maintain the LIBOR Rate Loans, Loans based upon the LIBOR Rate or the Daily Reset LIBOR Rate, as applicable, such Loans shall bear interest at a per annum rate equal to the Base Prime Rate in effect from time to timetime less one and one-half of one percent (1.50%) in effect. If all events or conditions making it unlawful or impossible for the Lenders Lender to maintain the Loans based upon the LIBOR Rate Loans or the Daily Reset LIBOR Rate cease to exist, then the LIBOR Rate Loans shall again bear interest at the Adjusted LIBOR Rate commencing on (i) the first day of the Loan Period immediately following the date all such events and conditions so cease to existexist with respect to LIBOR Loans and (ii) on the day following the date all such events and conditions so cease to exist with respect to Daily Reset LIBOR Loans.