Common use of Illegality; Increased Costs; Deposits Clause in Contracts

Illegality; Increased Costs; Deposits. Not Available], the Borrower shall, subject to the Borrower’s indemnification Obligations under Section 4.12 [Indemnity], as to any Loan of the Lender to which a LIBOR Rate Option applies, on the date specified in such notice either convert such Loan to the Base Rate Option otherwise available with respect to such Loan or prepay such Loan in accordance with Section 4.6 [Voluntary Prepayments]. Absent due notice from the Borrower of conversion or prepayment, such Loan shall automatically be converted to the Base Rate Option otherwise available with respect to such Loan upon such specified date.

Appears in 5 contracts

Samples: Credit Agreement (Under Armour, Inc.), Credit Agreement (Under Armour, Inc.), Credit Agreement (Under Armour, Inc.)

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Illegality; Increased Costs; Deposits. Not Available], the Borrower shall, subject to the Borrower’s indemnification Obligations under Section 4.12 4.9 [Indemnity], as to any Loan of the Lender to which a LIBOR Rate Option applies, on the date specified in such notice either convert such Loan to the Base Rate Option otherwise available with respect to such Loan or prepay such Loan in accordance with Section 4.6 [Voluntary Prepayments]. Absent due notice from the Borrower of conversion or prepayment, such Loan shall automatically be converted to the Base Rate Option otherwise available with respect to such Loan upon such specified date.

Appears in 5 contracts

Samples: Credit Agreement (Erie Indemnity Co), Revolving Credit Facility (Mine Safety Appliances Co), Credit Agreement (Dayton Power & Light Co)

Illegality; Increased Costs; Deposits. Not Available], the Borrower shall, subject to the Borrower’s indemnification Obligations under Section 4.12 4.6.2 [Indemnity], as to any Loan of the Lender to which a LIBOR LIBO-Rate Option applies, on the date specified in such notice either convert such Loan to the Base Rate Option otherwise available with respect to such Loan or prepay such Loan in accordance with Section 4.6 4.4 [Voluntary Prepayments]. Absent due notice from the Borrower of conversion or prepayment, such Loan shall automatically be converted to the Base Rate Option otherwise available with respect to such Loan upon such specified date.

Appears in 3 contracts

Samples: Revolving Credit Facility (Hovnanian Enterprises Inc), Revolving Credit Facility (Hovnanian Enterprises Inc), Revolving Credit Facility (Hovnanian Enterprises Inc)

Illegality; Increased Costs; Deposits. Not Available], the Borrower shall, subject to the Borrower’s indemnification Obligations under Section 4.12 5.10 [Indemnity], as to any Loan of the Lender to which a LIBOR Rate Option applies, on the date specified in such notice either convert such Loan to the Base Rate Option otherwise available with respect to such Loan or prepay such Loan in accordance with Section 4.6 5.6 [Voluntary Prepayments]. Absent due notice from the Borrower of conversion or prepayment, such Loan shall automatically be converted to the Base Rate Option otherwise available with respect to such Loan upon such specified date.

Appears in 2 contracts

Samples: Credit Agreement (Chesapeake Utilities Corp), Credit Agreement (Ipalco Enterprises, Inc.)

Illegality; Increased Costs; Deposits. Not Available], the Borrower shall, subject to the Borrower’s 's indemnification Obligations under Section 4.12 5.10 [Indemnity], as to any Loan of the Lender to which a LIBOR Rate Option applies, on the date specified in such notice either convert such Loan to the Base Rate Option otherwise available with respect to such Loan or prepay such Loan in accordance with Section 4.6 5.6 [Voluntary Prepayments]. Absent due notice from the Borrower of conversion or prepayment, such Loan shall automatically be converted to the Base Rate Option otherwise available with respect to such Loan upon such specified date.

Appears in 2 contracts

Samples: Credit Agreement (Ipalco Enterprises, Inc.), Credit Agreement (Ipalco Enterprises, Inc.)

Illegality; Increased Costs; Deposits. Not Available], the Borrower shall, subject to the Borrower’s 's indemnification Obligations under Section 4.12 4.10 [Indemnity], as to any Loan of the Lender to which a LIBOR Rate Option applies, on the date specified in such notice either (i) as applicable, convert such Loan to the Base Rate Option otherwise available with respect to such Loan or select a different Optional Currency or Dollars or (ii) prepay such Loan in accordance with Section 4.6 [Voluntary Prepayments]. Absent due notice from the Borrower of conversion or prepayment, such Loan shall automatically be converted to the Base Rate Option otherwise available with respect to such Loan upon such specified date.

Appears in 1 contract

Samples: Credit Agreement (MSA Safety Inc)

Illegality; Increased Costs; Deposits. Not Available], the Borrower shall, subject to the Borrower’s indemnification Obligations under Section 4.12 4.6.2 [Indemnity], as to any Loan of the Lender to which a LIBOR Rate Option or Index Rate Option, as applicable, applies, on the date specified in such notice either convert such Loan to the Base Rate Option otherwise available with respect to such Loan or prepay such Loan in accordance with Section 4.6 4.4 [Voluntary Prepayments]. Absent due notice from the Borrower of conversion or prepayment, such Loan shall automatically be converted to the Base Rate Option otherwise available with respect to such Loan upon such specified date.

Appears in 1 contract

Samples: Revolving Credit Facility (Hovnanian Enterprises Inc)

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Illegality; Increased Costs; Deposits. Not Available], the Borrower shall, subject to the Borrower’s 's indemnification Obligations under Section 4.12 5.7 [Indemnity], as to any Loan of the Lender to which a LIBOR Rate Option applies, on the date specified in such notice either convert such Loan to the Base Rate Option otherwise available with respect to such Loan or prepay such Loan in accordance with Section 4.6 5.3 [Voluntary Prepayments]. Absent due notice from the Borrower of conversion or prepayment, such Loan shall automatically be converted to the Base Rate Option otherwise available with respect to such Loan upon such specified date.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Facility (Shotspotter, Inc)

Illegality; Increased Costs; Deposits. Not Available], the Borrower shall, subject to the Borrower’s 's indemnification Obligations under Section 4.12 4.6.2 [Indemnity], as to any Loan of the Lender Bank to which a LIBOR LIBO-Rate Option applies, on the date specified in such notice either convert such Loan to the Base Rate Option otherwise available with respect to such Loan or prepay such Loan in accordance with Section 4.6 4.4 [Voluntary Prepayments]. Absent due notice from the Borrower of conversion or prepayment, such Loan shall automatically be converted to the Base Rate Option otherwise available with respect to such Loan upon such specified date.

Appears in 1 contract

Samples: Revolving Credit Facility (Hovnanian Enterprises Inc)

Illegality; Increased Costs; Deposits. Not Available], the Borrower shall, subject to the Borrower’s 's indemnification Obligations under Section 4.12 4.7 [Indemnity], as to any Loan of the Lender to which a LIBOR Rate Option applies, on the date specified in such notice either convert such Loan to the Base Rate Option otherwise available with respect to such Loan or prepay such Loan in accordance with Section 4.6 4.3 [Voluntary Prepayments]. Absent due notice from the Borrower Borrowers of conversion or prepayment, such Loan shall automatically be converted to the Base Rate Option otherwise available with respect to such Loan upon such specified date.

Appears in 1 contract

Samples: Credit Agreement (DSW Inc.)

Illegality; Increased Costs; Deposits. Not Available], the Borrower shall, subject to the Borrower’s indemnification Obligations under Section 4.12 5.10 [Indemnity], as to any Loan of the Lender to which a LIBOR Rate Option applies, on the date specified in such notice either convert such Loan to the Alternative Base Rate Option otherwise available with respect to such Loan or prepay such Loan in accordance with Section 4.6 5.6 [Voluntary Prepayments]. Absent due notice from the Borrower of conversion or prepayment, such Loan shall automatically be converted to the Alternative Base Rate Option otherwise available with respect to such Loan upon such specified date.

Appears in 1 contract

Samples: Revolving Credit Agreement (Superior Well Services, INC)

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