Common use of Inability to Make LIBOR Portions Clause in Contracts

Inability to Make LIBOR Portions. Notwithstanding -------------------------------- any other provision hereof, if any applicable law, treaty, regulation or directive, or any change therein or in the interpretation or application thereof, shall make it unlawful for any Revolving Credit Lender (for purposes of this subsection 3.1.10, the term "Revolving Credit Lender") shall include the office or branch where such Revolving Credit Lender or any corporation or bank then controlling such Revolving Credit Lender makes or maintains any LIBOR Portions) to make or maintain its LIBOR Portions, or if with respect to any Interest Period, Agent is unable to determine the LIBOR relating thereto, or adverse or unusual conditions in, or changes in, applicable law relating to, the London interbank market make it, in the reasonable judgment of Agent, impractical to fund therein any of the LIBOR Portions, or make the projected LIBOR unreflective of the actual costs of funds therefor to any Revolving Credit Lender, the obligation of Agent and Revolving Credit Lenders to make or continue LIBOR Portions or convert Base Rate Portions to LIBOR Portions hereunder shall forthwith be suspended during the pendency of such circumstances and the applicable Borrower shall, if any affected LIBOR Portions are then outstanding, promptly upon request from Agent, convert such affected LIBOR Portions into Base Rate Portions. Agent shall promptly notify Borrowers in writing if and when the circumstances giving rise to such suspension no longer apply.

Appears in 1 contract

Samples: Loan and Security Agreement (Falcon Products Inc /De/)

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Inability to Make LIBOR Portions. Notwithstanding -------------------------------- any other provision hereof, if any applicable law, treaty, regulation or directive, or any change therein or in the interpretation or application thereof, shall make it unlawful for any Revolving Credit and Term Loan A Lender (for purposes of this subsection 3.1.10, the term "Revolving Credit and Term Loan A Lender") " shall include the office or branch where such Revolving Credit and Term Loan A Lender or any corporation or bank then controlling such Revolving Credit and Term Loan A Lender makes or maintains any LIBOR Portions) to make or maintain its LIBOR Portions, or if with respect to any Interest Period, Agent is unable to determine the LIBOR relating thereto, or adverse or unusual conditions in, or changes in, in applicable law relating to, the London interbank market make it, in the reasonable judgment of Agent, impractical impracticable to fund therein any of the LIBOR Portions, or make the projected LIBOR unreflective of the actual costs of funds therefor to any Revolving Credit and Term Loan A Lender, the obligation of Agent and Revolving Credit and Term Loan A Lenders to make or continue LIBOR Portions or convert Base Rate Portions to LIBOR Portions hereunder shall forthwith be suspended during the pendency of such circumstances and the applicable Borrower shall, if any affected LIBOR Portions are then outstanding, promptly upon request from Agent, convert such affected LIBOR Portions into Base Rate Portions. Agent shall promptly notify Borrowers in writing if and when the circumstances giving rise to such suspension no longer apply.

Appears in 1 contract

Samples: Loan and Security Agreement (Falcon Products Inc /De/)

Inability to Make LIBOR Portions. Notwithstanding -------------------------------- any other -------------------------------- provision hereof, if any applicable law, treaty, regulation or directive, or any change therein or in the interpretation or application thereof, shall make it unlawful for any Revolving Credit and Term Loan A Lender (for purposes of this subsection 3.1.10, the term "Revolving Credit and Term Loan A Lender") " shall include the office or branch where such Revolving Credit and Term Loan A Lender or any corporation or bank then controlling such Revolving Credit and Term Loan A Lender makes or maintains any LIBOR Portions) to make or maintain its LIBOR Portions, or if with respect to any Interest Period, Agent is unable to determine the LIBOR relating thereto, or adverse or unusual conditions in, or changes in, in applicable law relating to, the London interbank market make it, in the reasonable judgment of Agent, impractical impracticable to fund therein any of the LIBOR Portions, or make the projected LIBOR unreflective of the actual costs of funds therefor to any Revolving Credit and Term Loan A Lender, the obligation of Agent and Revolving Credit and Term Loan A Lenders to make or continue LIBOR Portions or convert Base Rate Portions to LIBOR Portions hereunder shall forthwith be suspended during the pendency of such circumstances and the applicable Borrower shall, if any affected LIBOR Portions are then outstanding, promptly upon request from Agent, convert such affected LIBOR Portions into Base Rate Portions. Agent shall promptly notify Borrowers in writing if and when the circumstances giving rise to such suspension no longer apply.

Appears in 1 contract

Samples: Loan and Security Agreement (Falcon Products Inc /De/)

Inability to Make LIBOR Portions. Notwithstanding -------------------------------- any other provision hereof, if any applicable law, treaty, regulation or directive, or any change therein or in the interpretation or application thereof, shall make it unlawful for any Revolving Credit Lender (for purposes of this subsection 3.1.10, the term "Revolving Credit Lender") shall include the office or branch where such Revolving Credit Lender or any corporation or bank Person then controlling such Revolving Credit Lender makes or maintains any LIBOR Portions) to make or maintain its LIBOR Portions, or if with respect to any Interest Period, Administrative Agent is unable to determine the LIBOR relating thereto, or adverse or unusual conditions in, or changes in, in applicable law relating to, the London interbank market make it, in the reasonable judgment of Administrative Agent, impractical impracticable to fund therein any of the LIBOR Portions, or make the projected LIBOR unreflective of the actual costs of funds therefor to any Revolving Credit Lender, then, on notice thereof by such Lender or Administrative Agent (as applicable) to Borrower (with a copy to Administrative Agent, if applicable), the obligation of Administrative Agent and Revolving Credit Lenders to make or continue LIBOR Portions or convert Base Rate Portions to LIBOR Portions hereunder shall forthwith be suspended during the pendency of until such Lender or Administrative Agent notifies Borrower (with a copy to Administrative Agent, if applicable) that such circumstances and the applicable no longer exist and, Borrower shall, if any affected LIBOR Portions are then outstanding, promptly upon request from Administrative Agent, convert such affected LIBOR Portions into Base Rate Portions. Administrative Agent shall promptly notify Borrowers in writing if and when or the circumstances relevant Lender (as applicable) will endeavor to give Borrower prompt notice of the cessation of the circumstance giving rise to the suspension of LIBOR availability, provided that the failure to give any such suspension no longer applynotice shall not result in any liability of Administrative Agent or any Lender hereunder or in the modification, alteration, impairment, or waiver of the rights of Administrative Agent or any Lender hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Nes Rentals Holdings Inc)

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Inability to Make LIBOR Portions. Notwithstanding -------------------------------- any other provision hereof, if any applicable law, treaty, regulation or directive, or any change therein or in the interpretation or application thereof, shall make it unlawful for any Revolving Credit Lender (for purposes of this subsection 3.1.10, the term "Revolving Credit Lender") " shall include the office or branch where such Revolving Credit Lender or any corporation or bank then controlling such Revolving Credit Lender makes or maintains any LIBOR Portions) to make or maintain its LIBOR Portions, the obligation of such affected Lender to make or continue LIBOR Portions hereunder shall forthwith be suspended during the pendency of such circumstances, and Borrowers shall, if the affected Lender has any LIBOR Portions outstanding, convert such affected LIBOR Portions to Base Rate Portions. Notwithstanding any other provision hereof, if with respect to any Interest Period, Agent is unable to determine the LIBOR relating thereto, or adverse or unusual conditions in, or changes in, in applicable law relating to, the London interbank market make it, in the reasonable judgment of Agent, impractical impracticable to fund therein any of the LIBOR Portions, or make the projected LIBOR unreflective of the actual costs of funds therefor to any Revolving Credit Lender, the obligation of Agent and Revolving Credit Lenders to make or continue LIBOR Portions or convert Base Rate Portions to LIBOR Portions hereunder shall forthwith be suspended during the pendency of such circumstances and the applicable Borrower Borrowers shall, if any affected LIBOR Portions are then outstanding, promptly upon request from Agent, convert such affected LIBOR Portions into Base Rate Portions. Agent shall promptly notify Borrowers in writing if and when the circumstances giving rise to such suspension no longer apply.

Appears in 1 contract

Samples: Loan and Security Agreement (Truserv Corp)

Inability to Make LIBOR Portions. Notwithstanding -------------------------------- any other provision hereof, if any applicable law, treaty, regulation or directive, or any change therein or in the interpretation or application thereof, shall make it unlawful for any Revolving Credit Lender (for purposes of this subsection 3.1.10, the term "Revolving Credit Lender") shall include the office or branch where such Revolving Credit Lender or any corporation or bank Person then controlling such Revolving Credit Lender makes or maintains any LIBOR Portions) to make or maintain its LIBOR Portions, or if with respect to any Interest Period, Administrative Agent is unable to determine the LIBOR relating thereto, or adverse or unusual conditions in, or changes in, in applicable law relating to, the London interbank market make it, in the reasonable judgment of Administrative Agent, impractical impracticable to fund therein any of the LIBOR Portions, or make the projected LIBOR unreflective of the actual costs of funds therefor to any Revolving Credit Lender, then, on notice thereof by such Lender or Administrative Agent (as applicable) to Borrower Representative (with a copy to Administrative Agent, if applicable), the obligation of Administrative Agent and Revolving Credit Lenders to make or continue LIBOR Portions or convert Base Rate Portions to LIBOR Portions hereunder shall forthwith be suspended during the pendency of until such Lender or Administrative Agent notifies Borrower Representative (with a copy to Administrative Agent, if applicable) that such circumstances and the applicable Borrower no longer exist and, Borrowers shall, if any affected LIBOR Portions are then outstanding, promptly upon request from Administrative Agent, convert such affected LIBOR Portions into Base Rate Portions. Administrative Agent shall promptly notify Borrowers in writing if and when or the circumstances relevant Lender (as applicable) will endeavor to give Borrower Representative prompt notice of the cessation of the circumstance giving rise to the suspension of LIBOR availability, provided that the failure to give any such suspension no longer applynotice shall not result in any liability of Administrative Agent or any Lender hereunder or in the modification, alteration, impairment, or waiver of the rights of Administrative Agent or any Lender hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Nes Rentals Holdings Inc)

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