Common use of Illegality; Inability to Determine LIBOR Rate or EURIBOR Rate Clause in Contracts

Illegality; Inability to Determine LIBOR Rate or EURIBOR Rate. Notwithstanding any other provision of this Agreement if (a) the introduction of, any change in, or any change in the interpretation of, any Law or regulation applicable to any Bank or Agent shall make it unlawful, or any central bank or other governmental authority having jurisdiction thereof shall assert that it is unlawful, for any Bank or any such Agent to perform its obligations in respect of any LIBOR Rate Loans or EURIBOR Rate Loans, or (b) if any Bank or any such Agent, as applicable shall reasonably determine with respect to LIBOR Rate Loans or EURIBOR Rate Loans that (i) by reason of circumstances affecting any eurodollar interbank market, adequate and reasonable methods do not exist for ascertaining the LIBOR Rate and/or EURIBOR Rate which would otherwise be applicable during any Interest Period, or (ii) deposits in the relevant currency and amount for the relevant Interest Period are not available to such Bank or such Agent in any eurodollar interbank market, then such Bank or such Agent shall promptly give notice of such determination to the Borrowers (which notice shall be conclusive and binding upon such Borrowers). Upon such notification by such Bank or such Agent, the obligation of the Banks and such Agent to make LIBOR Rate Loans (or Domestic Base Rate Loans the interest rate on which is determined by reference to the Domestic LIBOR Rate component of the Domestic Base Rate) or EURIBOR Rate Loans, as the case may be, shall be suspended until the Banks or such Agent, as the case may be, determine that such circumstances no longer exist, and to the extent permitted by Law the outstanding LIBOR Rate Loans (or Domestic Base Rate Loans the interest rate on which is determined by reference to the Domestic LIBOR Rate component of the Domestic Base Rate) and/or EURIBOR Rate Loans shall continue to bear interest at the applicable rate based on the LIBOR Rate and/or EURIBOR Rate, respectively, until the end of the applicable Interest Period, and thereafter shall be deemed converted to Domestic Base Rate Loans (without reference to the Domestic LIBOR Rate component of the Domestic Base Rate), Canadian Base Rate Loans or U.K. Base Rate Loans, as applicable, in equal principal amounts of such former LIBOR Rate Loans (or Domestic Base Rate Loans the interest rate on which is determined by reference to the Domestic LIBOR Rate component of the Domestic Base Rate) or EURIBOR Rate Loans.

Illegality; Inability to Determine LIBOR Rate or EURIBOR Rate. Notwithstanding any other provision of this Agreement if (a) the introduction of, any change in, or any change in the interpretation of, any Law law or regulation applicable to any Bank or Agent shall make it unlawful, or any central bank or other governmental authority having jurisdiction thereof shall assert that it is unlawful, for any Bank or any such Agent to perform its obligations in respect of any LIBOR Rate Loans or EURIBOR Rate Loans, or (b) if any Bank or any such Agent, as applicable shall reasonably determine with respect to LIBOR Rate Loans or EURIBOR Rate Loans that (i) by reason of circumstances affecting any eurodollar interbank market, adequate and reasonable methods do not exist for ascertaining the LIBOR Rate and/or EURIBOR Rate which would otherwise be applicable during any Interest Period, or (ii) deposits in the relevant currency and amount for the relevant Interest Period are not available to such Bank or such Agent in any eurodollar interbank market, then such Bank or such Agent shall promptly give notice of such determination to the Borrowers (which notice shall be conclusive and binding upon such Borrowers). Upon such notification by such Bank or such Agent, the obligation of the Banks and such Agent to make LIBOR Rate Loans (or Domestic Base Rate Loans the interest rate on which is determined by reference to the Domestic LIBOR Rate component of the Domestic Base Rate) or EURIBOR Rate Loans, as the case may be, shall be suspended until the Banks or such Agent, as the case may be, determine that such circumstances no longer exist, and to the extent permitted by Law law the outstanding LIBOR Rate Loans (or Domestic Base Rate Loans the interest rate on which is determined by reference to the Domestic LIBOR Rate component of the Domestic Base Rate) and/or EURIBOR Rate Loans shall continue to bear interest at the applicable rate based on the LIBOR Rate and/or EURIBOR Rate, respectively, until the end of the applicable Interest Period, and thereafter shall be deemed converted to Domestic Base Rate Loans (without reference to the Domestic LIBOR Rate component of the Domestic Base Rate)Loans, Canadian Base Rate Loans or U.K. Base Rate Loans, as applicable, in equal principal amounts of such former LIBOR Rate Loans (or Domestic Base Rate Loans the interest rate on which is determined by reference to the Domestic LIBOR Rate component of the Domestic Base Rate) or EURIBOR Rate Loans.

Illegality; Inability to Determine LIBOR Rate or EURIBOR Rate. Notwithstanding any other provision of this Agreement if (a) the introduction of, any change in, or any change in the interpretation of, any Law or regulation applicable to any Bank or Agent shall make it unlawful, or any central bank or other governmental authority having jurisdiction thereof shall assert that it is unlawful, for any Bank or any such Agent to perform its obligations in respect of any LIBOR Rate Loans or EURIBOR Rate Loans, or (b) if any Bank or any such Agent, as applicable shall reasonably determine with respect to LIBOR Rate Loans or EURIBOR Rate Loans that (i) by reason of circumstances affecting any eurodollar interbank market, adequate and reasonable methods do not exist for ascertaining the LIBOR Rate and/or EURIBOR Rate which would otherwise be applicable during any Interest Period, or (ii) deposits in the relevant currency and amount for the relevant Interest Period are not available to such Bank or such Agent in any eurodollar interbank market, then such Bank or such Agent shall promptly give notice of such determination to the Borrowers (which notice shall be conclusive and binding upon such Borrowers). Upon such notification by such Bank or such Agent, the obligation of the Banks and such Agent to make LIBOR Rate Loans (or Domestic Base Rate Loans the interest rate on which is determined by reference to the Domestic LIBOR Rate component of the Domestic Base Rate) or EURIBOR Rate Loans, as the case may be, shall be suspended until the Banks or such Agent, as the case may be, determine that such circumstances no longer exist, and to the extent permitted by Law the outstanding LIBOR Rate Loans (or Domestic Base Rate Loans the interest rate on which is determined by reference to the Domestic LIBOR Rate component of the Domestic Base Rate) and/or EURIBOR Rate Loans shall continue to bear interest at the applicable rate based on the LIBOR Rate and/or EURIBOR Rate, respectively, until the end of the applicable Interest Period, and thereafter shall be deemed converted to Domestic Base Rate Loans (without reference to the Domestic LIBOR Rate component of the Domestic Base Rate)Loans, Canadian Base Rate Loans or U.K. Base Rate Loans, as applicable, in equal principal amounts of such former LIBOR Rate Loans (or Domestic Base Rate Loans the interest rate on which is determined by reference to the Domestic LIBOR Rate component of the Domestic Base Rate) or EURIBOR Rate Loans.

Illegality; Inability to Determine LIBOR Rate or EURIBOR Rate. Notwithstanding any other provision of this Agreement if (a) the introduction of, any change in, or any change in the interpretation of, any Law or regulation applicable to any Bank or any Agent shall make it unlawful, or any central bank or other governmental authority having jurisdiction thereof shall assert that it is unlawful, for any Bank or any such Agent to perform its obligations in respect of any LIBOR Rate Loans or EURIBOR Rate Loans, or (b) if any Bank or any such Agent, as applicable shall reasonably determine with respect to LIBOR Rate Loans or EURIBOR Rate Loans that (i) by reason of circumstances affecting any eurodollar interbank market, adequate and reasonable methods do not exist for ascertaining the LIBOR Rate and/or EURIBOR Rate which would otherwise be applicable during any Interest Period, or (ii) deposits in the relevant currency and amount for the relevant Interest Period are not available to such Bank or such Agent in any eurodollar interbank market, then such Bank or such Agent shall promptly give notice of such determination to the Borrowers (which notice shall be conclusive and binding upon such Borrowers). Upon such notification by such Bank or such Agent, the obligation of the Banks and such Agent to make LIBOR Rate Loans (or Domestic Base Rate Loans the interest rate on which is determined by reference to the Domestic LIBOR Rate component of the Domestic Base Rate) or EURIBOR Rate Loans, as the case may be, shall be suspended until the Banks or such Agent, as the case may be, determine that such circumstances no longer exist, and to the extent permitted by Law the outstanding LIBOR Rate Loans (or Domestic Base Rate Loans the interest rate on which is determined by reference to the Domestic LIBOR Rate component of the Domestic Base Rate) and/or EURIBOR Rate Loans shall continue to bear interest at the applicable rate based on the LIBOR Rate and/or EURIBOR Rate, respectively, until the end of the applicable Interest Period, and thereafter shall be deemed converted to Domestic Base Rate Loans (without reference to the Domestic LIBOR Rate component of the Domestic Base Rate), Canadian Base Rate Loans or U.K. Base Rate Loans, as applicable, in equal principal amounts of such former LIBOR Rate Loans (or Domestic Base Rate Loans the interest rate on which is determined by reference to the Domestic LIBOR Rate component of the Domestic Base Rate) or EURIBOR Rate Loans.