Common use of Illegality; Impracticability Clause in Contracts

Illegality; Impracticability. In the event that Bank shall determine, which determination shall be final, conclusive and binding, that the making, maintaining or continuance of any portion of a LIBOR Advance (i) has become unlawful as a result of compliance by Bank with any law, treaty, governmental rule, regulation, guideline or order (or would conflict with any of the same not having the force of law even though the failure to comply therewith would not be unlawful) or (ii) has become impracticable, or would cause Bank material hardship, as a result of contingencies occurring after the date of this Note materially and adversely affect the London interbank market or Bank's ability to make LIBOR Advances generally, then, and in any such event, Bank shall give notice (by telephone confirmed in writing (which may be delivered by electronic means)) to Borrower of such determination. Thereafter, (x) the obligation of Bank to make any LIBOR Advances or to convert any portion of the loan to a LIBOR Advance shall be suspended until such notice shall be withdrawn by Bank, and (y) any request by Borrower for a LIBOR Advance shall be deemed to be a request for an advance at the Standard Rate. WITNESS: By: Print Name: Name: Xxxxxx Xxxxx Title: Chief Financial officer By: Print Name: Name: Xxxxx Xxx Title: Vice President, General Counsel and Secretary

Appears in 1 contract

Samples: Loan Agreement (Applied Optoelectronics, Inc.)

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Illegality; Impracticability. In the event that Bank shall determine, which determination shall be final, conclusive and binding, that the making, maintaining or continuance of any portion of a LIBOR Advance (i) has become unlawful as a result of compliance by Bank with any law, treaty, governmental rule, regulation, guideline or order (or would conflict with any of the same not having the force of law even though the failure to comply therewith would not be unlawful) or (ii) has become impracticable, or would cause Bank material hardship, as a result of contingencies occurring after the date of this Note materially and adversely affect the London interbank market or Bank's ability to make LIBOR Advances generally, then, and in any such event, Bank shall give notice (by telephone confirmed in writing (which may be delivered by electronic means)) to Borrower of such determination. Thereafter, (x) the obligation of Bank to make any LIBOR Advances or to convert any portion of the loan to a LIBOR Advance shall be suspended until such notice shall be withdrawn by Bank, and (y) any request by Borrower for a LIBOR Advance shall be deemed to be a request for an advance at the Standard Rate. APPLIED OPTOELECTRONICS, INC. Name of Corporation WITNESS: By: Print Name: Name: Xxxxxx Xxxxx Title: Chief Financial officer By: Print Name: Name: Xxxxx Xxx Title: Vice President, General Counsel and SecretarySecretary EXHIBIT C CapEx Note (See attached.) 40

Appears in 1 contract

Samples: Loan Agreement

Illegality; Impracticability. In the event that Bank shall determine, which determination shall be final, conclusive and binding, that the making, maintaining or continuance of any portion of a LIBOR Advance (i) has become unlawful as a result of compliance by Bank with any law, treaty, governmental rule, regulation, guideline or order (or would conflict with any of the same not having the force of law even though the failure to comply therewith would not be unlawful) or (ii) has become impracticable, or would cause Bank material hardship, as a result of contingencies occurring after the date of this Note materially and adversely affect the London interbank market or Bank's ability to make LIBOR Advances generally, then, and in any such event, Bank shall give notice (by telephone confirmed in writing (which may be delivered by electronic means)) to Borrower of such determination. Thereafter, (x) the obligation of Bank to make any LIBOR Advances or to convert any portion of the loan to a LIBOR Advance shall be suspended until such notice shall be withdrawn by Bank, and (y) any request by Borrower for a LIBOR Advance shall be deemed to be a request for an advance at the Standard Rate. APPLIED OPTOELECTRONICS, INC. Name of Corporation WITNESS: By: Print Name: Name: Xxxxxx Xxxxx Title: Chief Financial officer By: Print Name: Name: Xxxxx Xxx Title: Vice President, General Counsel and SecretarySecretary EXHIBIT B Term Note (See attached.)

Appears in 1 contract

Samples: Loan Agreement

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Illegality; Impracticability. In the event that Bank shall determine, which determination shall be final, conclusive and binding, that the making, maintaining or continuance of any portion of a LIBOR Advance (i) has become unlawful as a result of compliance by Bank with any law, treaty, governmental rule, regulation, guideline or order (or would conflict with any of the same not having the force of law even though the failure to comply therewith would not be unlawful) or (ii) has become impracticable, or would cause Bank material hardship, as a result of tof contingencies occurring after the date of this Note materially and adversely affect the London interbank market or Bank's ’s ability to make LIBOR Advances generally, then, and in any such event, Bank shall give notice (by telephone confirmed in writing (which may be delivered or by electronic means)telecopy) to Borrower of such determination. Thereafter, (x) the obligation of Bank to make any LIBOR Advances or to convert any portion of the loan to a LIBOR Advance shall be suspended until such notice shall be withdrawn by Bank, Bank and (y) any request by Borrower for a LIBOR Advance shall be deemed to be a request for an advance at the Standard Rate. This Addendum shall operate as a sealed instrument. WITNESS: By: Print Name: Name: DELTA NATURAL GAS COMPANY, INC. (Name of Corporation) /s/W. Hxxxxx Xxxxxx Xxxxx Title: Chief Financial officer By: Print Name: Name: Xxxxx Xxx Title: Vice President, General Counsel and SecretaryBy:/s/ Gxxxx X. Xxxxxxxx (SEAL)

Appears in 1 contract

Samples: Note Modification Agreement (Delta Natural Gas Co Inc)

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