Common use of Illegality; Currency Restrictions Clause in Contracts

Illegality; Currency Restrictions. (a) If, as the result of any Regulatory Change, any Lender shall determine (which determination shall, in the absence of demonstrable error, be conclusive and binding on each Borrower), that it is unlawful for such Lender to make any Loan, issue any Letter of Credit, or continue any Loan previously made by it hereunder in respect of the LIBO Rate, as the case may be, the obligations of such Lender to make any such Loan, issue any such Letter of Credit, or continue any such Loan in respect of the LIBO Rate, as the case may be, shall, upon the giving of notice thereof to the Administrative Agent, Micro, and any other applicable Borrower, forthwith be suspended and each applicable Borrower shall, if requested by such Lender and if required by such Regulatory Change, on such date as shall be specified in such notice, prepay to such Lender in full all of such Loans or convert all of such Loans into a Cost of Funds Rate Loan that is not unlawful, in each case on the last day of the Interest Period applicable thereto (unless otherwise required by applicable law) and without any penalty whatsoever (but subject to Section 5.4); provided that such Lender shall make as Cost of Funds Loans all Loans that such Lender would otherwise be obligated to make Loans at the LIBO Rate and convert into or continue as Cost of Funds Loans all Loans that such Lender would otherwise be required to convert into or continue as Loans at the LIBO Rate, in each case during the period any such suspension is effective. Such suspension shall continue to be effective until such Lender shall notify the Administrative Agent and Micro that the circumstances causing such suspension no longer exist, at which time the obligations of such Lender to make any such Loan, issue any Letter of Credit, or continue any Loan, as the case may be, shall be reinstated. (b) If any central bank or other governmental authorization in the country of the proposed Available Currency of any proposed Loan is required to permit the use of such Available Currency by a Lender (through its Lending Office) for such Loan and such authorization has not been obtained (provided that such Lender has used reasonable endeavors to obtain such authorization) or is not in full force and effect, the obligation of such Lender to provide such Loans shall be suspended so long as such authorization is required and has not been obtained by such Lender.

Illegality; Currency Restrictions. (a) If, as the result of any Regulatory Change, any Lender shall determine (which determination shall, in the absence of demonstrable error, be conclusive and binding on each Borrower), that it is unlawful for such Lender to make any Revolving Loan, issue any Letter of Credit, or continue any Revolving Loan previously made by it hereunder in respect of the LIBO Rate, as the case may be, the obligations of such Lender to make any such Loan, issue any such Letter of Credit, or continue any such Revolving Loan in respect of the LIBO Rate, as the case may be, shall, upon the giving of notice thereof to the Administrative Agent, Micro, and any other applicable Borrower, forthwith be suspended and each applicable Borrower shall, if requested by such Lender and if required by such Regulatory Change, on such date as shall be specified in such notice, prepay to such Lender in full all of such Revolving Loans or convert all of such Revolving Loans into a Cost of Funds Rate Loan that is not unlawful, in each case on the last day of the Interest Period applicable thereto (unless otherwise required by applicable law) and without any penalty whatsoever (but subject to Section 5.4); provided that such Lender shall make as Cost of Funds Loans all Revolving Loans that such Lender would otherwise be obligated to make Revolving Loans at the LIBO Rate and convert into or continue as Cost of Funds Loans all Revolving Loans that such Lender would otherwise be required to convert into or continue as Revolving Loans at the LIBO Rate, in each case during the period any such suspension is effective. Such suspension shall continue to be effective until such Lender shall notify the Administrative Agent and Micro that the circumstances causing such suspension no longer exist, at which time the obligations of such Lender to make any such Loan, issue any Letter of Credit, or continue any Revolving Loan, as the case may be, shall be reinstated. (b) If any central bank or other governmental authorization in the country of the proposed Available Currency of any proposed Revolving Loan is required to permit the use of such Available Currency by a Lender (through its Lending Office) for such Revolving Loan and such authorization has not been obtained (provided that such Lender has used reasonable endeavors to obtain such authorization) or is not in full force and effect, the obligation of such Lender to provide such Revolving Loans shall be suspended so long as such authorization is required and has not been obtained by such Lender.

Illegality; Currency Restrictions. (a) If, as the result of any Regulatory Change, any Lender shall determine (which determination shall, in the absence of demonstrable error, be conclusive and binding on each Borrower), that it is unlawful for such Lender to make any LIBO Rate Loan, issue any Non-Rata Letter of Credit, Credit or continue any LIBO Rate Loan previously made by it hereunder in respect of the LIBO Ratehereunder, as the case may be, the obligations of such Lender to make any such LIBO Rate Loan, issue any such Non-Rata Letter of Credit, Credit or continue any such Loan in respect of the LIBO RateRate Loan, as the case may be, shall, upon the giving of notice thereof to the Administrative Agent, Micro, Micro and any other applicable Borrower, forthwith be suspended and each applicable Borrower shall, if requested by such Lender and if required by such Regulatory Change, on such date as shall be specified in such notice, prepay to such Lender in full all of such LIBO Rate Loans or convert all of such LIBO Rate Loans into a Cost Loan of Funds Rate Loan another Type that is not unlawful, in each case on the last day of the Interest Period applicable thereto (unless otherwise required by applicable law) and without any penalty whatsoever (but subject to Section 5.4); provided that provided, however, such Lender shall make as Cost of Funds Reference Rate Loans all Loans that such Lender would otherwise be obligated to make Loans at the as LIBO Rate Loans and convert into or continue as Cost of Funds Reference Rate Loans all Loans that such Lender would otherwise be required to convert into or continue as Loans at the LIBO RateRate Loans, in each case during the period any such suspension is effective. Such suspension shall continue to be effective until such Lender shall notify the Administrative Agent and Micro that the circumstances causing such suspension no longer exist, at which time the obligations of such Lender to make any such LIBO Rate Loan, issue any Non-Rata Letter of Credit, Credit or continue any LIBO Rate Loan, as the case may be, shall be reinstated. (b) If any central bank or other governmental authorization in the country of the proposed Available Currency of any proposed Loan is required to permit the use of such Available Currency by a Lender (through its Lending Office) for such Loan and such authorization has not been obtained (provided that such Lender has used reasonable endeavors to obtain such authorization) or is not in full force and effect, the obligation of such Lender to provide such Loans shall be suspended so long as such authorization is required and has not been obtained by such Lender.

Illegality; Currency Restrictions. (a) If, as the result of any Regulatory Change, any Lender shall determine (which determination shall, in the absence of demonstrable error, be conclusive and binding on each Borrower), that it is unlawful for such Lender to make any LIBO Rate Loan, issue any Letter of Credit, Credit or continue any LIBO Rate Loan previously made by it hereunder in respect of the LIBO Ratehereunder, as the case may be, the obligations of such Lender to make any such LIBO Rate Loan, issue any such Letter of Credit, Credit or continue any such Loan in respect of the LIBO RateRate Loan, as the case may be, shall, upon the giving of notice thereof to the Administrative Agent, Micro, Micro and any other applicable Borrower, forthwith be suspended suspended, and each applicable Borrower shall, if requested by such Lender and if required by such Regulatory Change, on such date as shall be specified in such notice, prepay to such Lender in full all of such LIBO Rate Loans or convert all of such LIBO Rate Loans into a Cost Loan of Funds Rate Loan another Type that is not unlawful, in each case on the last day of the Interest Period applicable thereto (unless otherwise required by applicable law) and without any penalty whatsoever (but subject to Section SECTION 5.4); provided that such Lender shall make as Cost of Funds U.S. Base Rate Loans all Loans that such Lender would otherwise be obligated to make Loans at the as LIBO Rate Loans and convert into or continue as Cost of Funds U.S. Base Rate Loans all Loans that such Lender would otherwise be required to convert into or continue as Loans at the LIBO RateRate Loans, in each case during the period any such suspension is effective. Such suspension shall continue to be effective until such Lender shall notify the Administrative Agent and Micro that the circumstances causing such suspension no longer exist, at which time the obligations of such Lender to make any such LIBO Rate Loan, issue any Letter of Credit, or continue any Loan, as the case may be, shall be reinstated. (b) If any central bank or other governmental authorization in the country of the proposed Available Currency of any proposed Loan is required to permit the use of such Available Currency by a Lender (through its Lending Office) for such Loan and such authorization has not been obtained (provided that such Lender has used reasonable endeavors to obtain such authorization) or is not in full force and effect, the obligation of such Lender to provide such Loans shall be suspended so long as such authorization is required and has not been obtained by such Lender.Non-

Illegality; Currency Restrictions. (a) If, as the result of any Regulatory Change, any Lender shall determine (which determination shall, in the absence of demonstrable error, be conclusive and binding on each the Borrower), that it is unlawful for such Lender to make any Loan, issue any Letter of Credit, Loan or continue any Loan previously made by it hereunder in respect of the LIBO Rate, as the case may be, the obligations of such Lender to make any such Loan, issue any such Letter of Credit, Loan or continue any such Loan in respect of the LIBO Rate, as the case may be, shall, upon the giving of notice thereof to the Administrative Agent, Micro, Agent and any other applicable the Borrower, forthwith be suspended and each applicable the Borrower shall, if requested by such Lender and if required by such Regulatory Change, on such date as shall be specified in such notice, prepay to such Lender in full all of such Loans or convert all of such Loans into a Cost of Funds Rate Loan that is not unlawful, in each case on the last day of the Interest Period applicable thereto (unless otherwise required by applicable law) and without any penalty whatsoever (but subject to Section 5.4); provided that such Lender shall make as Cost of Funds Loans all Loans that such Lender would otherwise be obligated to make Loans at the LIBO Rate and convert into or continue as Cost of Funds Loans all Loans that such Lender would otherwise be required to convert into or continue as Loans at the LIBO Rate, in each case during the period any such suspension is effective. Such suspension shall continue to be effective until such Lender shall notify the Administrative Agent and Micro the Borrower that the circumstances causing such suspension no longer exist, at which time the obligations of such Lender to make any such Loan, issue any Letter of Credit, Loan or continue any Loan, as the case may be, shall be reinstated. (b) If any central bank or other governmental authorization in the country of the proposed Available Currency of any proposed Loan is required to permit the use of such Available Currency by a Lender (through its Lending Office) for such Loan and such authorization has not been obtained (provided that such Lender has used reasonable endeavors to obtain such authorization) or is not in full force and effect, the obligation of such Lender to provide such Loans shall be suspended so long as such authorization is required and has not been obtained by such Lender.