Common use of Illegality of Funding Clause in Contracts

Illegality of Funding. Notwithstanding any other provision hereof, if any Lender or the Swing Line Lender, as the case may be, shall reasonably determine that any law, regulation, treaty or directive, or any change therein or in the interpretation or application thereof, shall make it unlawful for such Lender or the Swing Line Lender, as the case may be, to make or maintain any Fixed Rate Loan as contemplated by this Agreement, such Lender or the Swing Line Lender, as the case may be, shall promptly notify the Parent Borrower and the Administrative Agent thereof, and (i) the commitment or other obligation of such Lender or the Swing Line Lender, as the case may be, to make such Fixed Rate Loans or convert ABR Advances to Eurodollar Advances or convert Core Currency Euro Advances to new Core Currency Euro Advances, as the case may be, shall forthwith be suspended, (ii) such Lender or the Swing Line Lender, as the case may be, shall fund its portion of each requested Eurodollar Advance as an ABR Advance, (iii) such Lender’s or the Swing Line Lender’s, as the case may be, Loans then outstanding as such Eurodollar Advances, if any, shall be converted automatically to an ABR Advance on the last day of the then current Euro Interest Period applicable thereto or at such earlier time as may be required, and (iv) in the case of each Core Currency Euro Advance, each Bid Loan and each Swing Line Loan, the applicable Borrower shall take such action as such Lender or the Swing Line Lender, as the case may be, may reasonably request with a view to minimizing the obligations of such Borrower under Section 3.4. If the commitment of any Lender or the Swing Line Lender, as the case may be, with respect to Fixed Rate Loans is suspended pursuant to this Section and such Lender shall have obtained actual knowledge that it is once again legal for such Lender or the Swing Line Lender, as the case may be, to make or maintain Fixed Rate Loans, such Lender or the Swing Line Table of Contents Lender, as the case may be, shall promptly notify the Administrative Agent and the Parent Borrower thereof and, upon receipt of such notice by each of the Administrative Agent and the Parent Borrower, such Lender’s or the Swing Line Lender’s, as the case may be, commitment to make or maintain Fixed Rate Loans shall be reinstated.

Illegality of Funding. Notwithstanding any other provision hereof, if any Lender or the Swing Line Lender, as the case may be, shall reasonably determine that any law, regulation, treaty or directive, or any change therein or in the interpretation or application thereof, shall make it unlawful for such Lender or the Swing Line Lender, as the case may be, to make or maintain any Fixed Rate Loan as contemplated by this AgreementLoans whose interest rates are based upon SOFR or Term SOFR, such Lender or the Swing Line Lender, as the case may be, shall promptly notify the Parent Borrower and the Administrative Agent thereof, and (ia) the commitment or other obligation of such Lender or the Swing Line Lender, as the case may be, to make such Fixed Rate Term SOFR Loans or convert Convert ABR Advances Loans to Eurodollar Advances or convert Core Currency Euro Advances to new Core Currency Euro Advances, as the case may be, such Term SOFR Loans shall forthwith be suspended, (iib) such Lender or the Swing Line Lender, as the case may be, shall fund its portion of each requested Eurodollar Advance Term SOFR dollar as an ABR AdvanceLoan, (iiic) such Lender’s or the Swing Line Lender’s, as the case may be, Loans then outstanding as such Eurodollar AdvancesTerm SOFR Loans, if any, shall be converted Converted automatically to an ABR Advance Loan on the last day of the then current Euro Interest Period applicable thereto or at such earlier time as may be required, required and (ivd) in if such notice asserts the case illegality of each Core Currency Euro Advance, each Bid Loan and each Swing Line Loansuch Lender making or maintaining ABR Loans the interest rate on which is determined by reference to One Month SOFR Rate, the applicable Borrower shall take such action as interest rate on which ABR Loans of such Lender or shall, if necessary to avoid such illegality, be determined by the Swing Line Lender, as Administrative Agent without reference to the case may be, may reasonably request with a view to minimizing One Month SOFR Rate component of the obligations of such Borrower under Section 3.4Alternate Base Rate. If the commitment of any Lender or the Swing Line Lender, as the case may be, with respect to Fixed Rate Term SOFR Loans is suspended pursuant to this Section 3.07 and such Lender shall have obtained actual knowledge that it is once again legal for such Lender or the Swing Line Lender, as the case may be, to make or maintain Fixed Rate Term SOFR Loans, such Lender or the Swing Line Table of Contents Lender, as the case may be, shall promptly notify the Administrative Agent and the Parent Borrower thereof and, upon receipt of such notice by each of the Administrative Agent and the Parent Borrower, such LenderXxxxxx’s or the Swing Line Lender’s, as the case may be, commitment to make or maintain Fixed Rate Term SOFR Loans shall be reinstated. If the commitment of any Lender with respect to Term SOFR Loans is suspended pursuant to this Section 3.07, such suspension shall not otherwise affect such Lender’s Commitment.

Illegality of Funding. Notwithstanding any other provision hereof, if any Lender or the Swing Line Lender, as the case may be, shall reasonably determine that any law, regulation, treaty or directive, or any change therein or in the interpretation or application thereof, shall make it unlawful for such Lender or the Swing Line Lender, as the case may be, to make or maintain any Fixed Rate Loan as contemplated by this Agreement, such Lender or the Swing Line Lender, as the case may be, shall promptly notify the Parent Borrower and the Administrative Agent thereof, and (ia) the commitment or other obligation of such Lender or the Swing Line Lender, as the case may be, to make such Fixed Rate Loans or convert ABR Advances to Eurodollar Advances or convert Core Alternate Currency Euro Advances to new Core Alternate Currency Euro Advances, as the case may be, shall forthwith be suspended, (iib) such Lender or the Swing Line Lender, as the case may be, shall fund its portion of each requested Eurodollar Advance as an ABR Advance, (iiic) such Lender’s or the Swing Line Lender’s, as the case may be, Loans then outstanding as such Eurodollar Advances, if any, shall be converted automatically to an ABR Advance on the last day of the then current Euro Interest Period applicable thereto or at such earlier time as may be required, and (ivd) in the case of each Core Alternate Currency Euro Advance, each Bid Loan and each Swing Line Loan, the applicable Borrower shall take such action as such Lender or the Swing Line Lender, as the case may be, may reasonably request with a view to minimizing the obligations of such Borrower under Section 3.4. If the commitment of any Lender with respect to Eurodollar Advances or the Swing Line LenderAlternate Currency Advances, as the case may be, with respect to Fixed Rate Loans is suspended pursuant to this Section and such Lender shall have obtained actual knowledge that it is once again legal for such Lender to make or the Swing Line Lendermaintain Eurodollar Advances or Alternate Currency Advances, as the case may be, to make or maintain Fixed Rate Loans, such Lender or the Swing Line Table of Contents Lender, as the case may be, shall promptly notify the Administrative Agent and the Parent Borrower thereof and, upon receipt of such notice by each of the Administrative Agent and the Parent Borrower, such Lender’s commitment to make or the Swing Line Lender’smaintain Eurodollar Advances or Alternate Currency Advances, as the case may be, commitment to make or maintain Fixed Rate Loans shall be reinstated.

Illegality of Funding. Notwithstanding any other provision hereof, if any Lender or the Swing Line Lender, as the case may be, shall reasonably determine that any law, regulation, treaty or directive, or any change therein or in the interpretation or application thereof, shall make it unlawful for such Lender or the Swing Line Lender, as the case may be, to make or maintain any Fixed Rate Loan as contemplated by this AgreementLoans whose interest rates are based upon SOFR or Term SOFR, such Lender or the Swing Line Lender, as the case may be, shall promptly notify the Parent Borrower and the Administrative Agent thereof, and (ia) the commitment or other obligation of such Lender or the Swing Line Lender, as the case may be, to make such Fixed Rate Loans Term SOFR Advances or convert to Convert ABR Advances to Eurodollar Term SOFR Advances or convert Core Currency Euro Advances to new Core Currency Euro Advances, as the case may be, shall forthwith be suspended, (iib) such Lender or the Swing Line Lender, as the case may be, shall fund its portion of each requested Eurodollar Term SOFR Advance as an ABR Advance, (iiic) such Lender’s or the Swing Line Lender’s, as the case may be, Loans then outstanding as such Eurodollar Term SOFR Advances, if any, shall be converted Converted automatically to an ABR Advance on the last day of the then then-current Euro Interest Period applicable thereto or at such earlier time as may be required, required and (ivd) in if such notice asserts the case illegality of each Core Currency Euro Advance, each Bid Loan and each Swing Line Loansuch Lender making or maintaining ABR Advances the interest rate on which is determined by reference to One Month SOFR Rate, the applicable Borrower shall take such action as interest rate on which ABR Advances of such Lender or shall, if necessary to avoid such illegality, be determined by the Swing Line Lender, as Administrative Agent without reference to the case may be, may reasonably request with a view to minimizing One Month SOFR Rate component of the obligations of such Borrower under Section 3.4Alternate Base Rate. If the commitment of any Lender or the Swing Line Lender, as the case may be, with respect to Fixed Rate Loans Term SOFR Advances is suspended pursuant to this Section 3.7 and such Lender shall have obtained actual knowledge that it is once again legal for such Lender or the Swing Line Lender, as the case may be, to make or maintain Fixed Rate LoansTerm SOFR Advances, such Lender or the Swing Line Table of Contents Lender, as the case may be, shall promptly notify the Administrative Agent and the Parent Borrower thereof and, upon receipt delivery of such notice by to each of the Administrative Agent and the Parent Borrower, such Lender’s or the Swing Line Lender’s, as the case may be, commitment to make or maintain Fixed Rate Loans Term SOFR Advances shall be reinstated. If the commitment of any Lender with respect to Term SOFR Advances is suspended pursuant to this Section 3.7, such suspension shall not otherwise affect such Lender’s Commitment.

Illegality of Funding. Notwithstanding any other provision hereof, if any Lender or the Swing Line Lender, as the case may be, shall reasonably determine that any law, regulation, treaty or directive, or any change therein or in the interpretation or application thereof, shall make it unlawful for such Lender or the Swing Line Lender, as the case may be, to make or maintain any Fixed Rate Loan as contemplated by this Agreement, such Lender or the Swing Line Lender, as the case may be, shall promptly notify the Parent Borrower and the Administrative Agent thereof, and (i) the commitment or other obligation of such Lender or the Swing Line Lender, as the case may be, to make such Fixed Rate Loans or convert ABR Advances to Eurodollar Advances or convert Core Currency Euro Advances to new Core Currency Euro Advances, as the case may be, shall forthwith be suspended, (ii) such Lender or the Swing Line Lender, as the case may be, shall fund its portion of each requested Eurodollar Advance as an ABR Advance, (iii) such Lender’s 's or the Swing Line Lender’s's, as the case may be, Loans then outstanding as such Eurodollar Advances, if any, shall be converted automatically to an ABR Advance on the last day of the then current Euro Interest Period applicable thereto or at such earlier time as may be required, and (iv) in the case of each Core Currency Euro Advance, each Bid Loan and each Swing Line Loan, the applicable Borrower shall take such action as such Lender or the Swing Line Lender, as the case may be, may reasonably request with a view to minimizing the obligations of such Borrower under Section 3.4. If the commitment of any Lender or the Swing Line Lender, as the case may be, with respect to Fixed Rate Loans is suspended pursuant to this Section and such Lender shall have obtained actual knowledge that it is once again legal for such Lender or the Swing Line Lender, as the case may be, to make or maintain Fixed Rate Loans, such Lender or the Swing Line Table of Contents Lender, as the case may be, shall promptly notify the Administrative Agent and the Parent Borrower thereof and, upon receipt of such notice by each of the Administrative Agent and the Parent Borrower, such Lender’s 's or the Swing Line Lender’s's, as the case may be, commitment to make or maintain Fixed Rate Loans shall be reinstated.