Common use of Laws Affecting Eurodollar Rate Availability Clause in Contracts

Laws Affecting Eurodollar Rate Availability. If, after the date hereof, the introduction of, or any change in, any Applicable Law or any change in the interpretation or administration thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any Lender (or any of its Lending Offices) with any request or directive (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency, shall make it unlawful or impossible for any of the Lenders (or any of their respective Lending Offices) to honor its obligations hereunder to make or maintain any Eurodollar Rate Loan, such Lender shall promptly give notice thereof to the Administrative Agent and the Administrative Agent shall promptly give notice to the Borrower and the other Lenders. Thereafter, until the Administrative Agent notifies the Borrower that such circumstances no longer exist, (i) the obligations of the Lenders to make Eurodollar Rate Loans and the right of the Borrower to convert any Construction Loan Advance or continue any Construction Loan Advance as a Eurodollar Rate Loan shall be suspended and thereafter the Borrower may select only Base Rate Loans hereunder, and (ii) if any of the Lenders may not lawfully continue to maintain a Eurodollar Rate Loan to the end of the then current Interest Period applicable thereto as a Eurodollar Rate Loan, the applicable Eurodollar Rate Loan shall immediately be converted to a Base Rate Loan for the remainder of such Interest Period.

Laws Affecting Eurodollar Rate Availability. If, after the date hereof, the introduction of, or any change in, any Applicable Law or any change in the interpretation or administration thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any Lender of the Lenders (or any of its their respective Lending OfficesInstallations) with any request or directive (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency, shall make it unlawful or impossible for any of the Lenders (or any of their respective Lending OfficesInstallations) to honor its obligations hereunder to make or maintain any Eurodollar Rate LoanAdvance, such Lender shall promptly give notice thereof to the Administrative Agent and the Administrative Agent shall promptly give notice to the Borrower and the other Lenders. Thereafter, until the Administrative Agent notifies the Borrower and the other Lenders that such circumstances no longer exist, (i) the obligations of the Lenders to make Eurodollar Rate Loans Advances, and the right of the Borrower to convert any Construction Loan Advance or continue any Construction Loan Advance as a Eurodollar Rate Loan Advance shall be suspended and thereafter the Borrower may select only Base Rate Loans hereunderLoans, and (ii) if any of the Lenders may not lawfully continue to maintain a Eurodollar Rate Loan Advance to the end of the then current Interest Period applicable thereto as a Eurodollar Rate Loanthereto, the applicable Eurodollar Rate Loan shall immediately be converted to a Base Rate Loan for the remainder of such Interest PeriodPeriod and (iii) the Alternate Base Rate shall be calculated without giving effect to clause (c) of such definition.

Laws Affecting Eurodollar Rate Availability. If, after the date hereof, the introduction of, or any change in, any Applicable applicable Law or any change in the interpretation or administration thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any Lender of the Lenders (or any of its their respective Lending Offices) with any request or directive (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency, shall make it unlawful or impossible for any of the Lenders (or any of their respective Lending Offices) to honor its obligations hereunder to make or maintain any Eurodollar Rate Loan, such Lender shall promptly give notice thereof to the Administrative Agent and the Administrative Agent shall promptly give notice to the Borrower and the other Lenders. Thereafter, until the Administrative Agent notifies the Borrower that such circumstances no longer exist, (i) the obligations of the Lenders to make Eurodollar Rate Loans Loans, and the right of the Borrower to convert any Construction Loan Advance to a Eurodollar Rate Loan or continue any Construction Loan Advance as a Eurodollar Rate Loan shall be suspended and thereafter the Borrower may select only Base Rate Loans hereunder, and (ii) if any of the Lenders may not lawfully continue to maintain a Eurodollar Rate Loan to the end of the then current Interest Period applicable thereto as a Eurodollar Rate Loanthereto, the applicable Eurodollar Rate Loan shall immediately be converted to a Base Rate Loan for the remainder of such Interest Period.

Laws Affecting Eurodollar Rate Availability. If, after the date hereof, the introduction of, or any change in, any Applicable Law or any change in the interpretation or administration thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any Lender of the Lenders (or any of its Lending Officestheir respective lending offices) with any request or directive (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency, shall make it unlawful or impossible for any of the Lenders (or any of their respective Lending Officeslending offices) to honor its obligations hereunder to make or maintain any Eurodollar Rate Loan, such Lender shall promptly give notice thereof to the Administrative Agent and the Administrative Agent shall promptly give notice to the Borrower and the other Lenders. Thereafter, until the Administrative Agent notifies the Borrower that such circumstances no longer exist, (i) the obligations of the Lenders to make Eurodollar Rate Loans Loans, and the right of the Borrower to convert any Construction Loan Advance to a Eurodollar Loan or continue any Construction Loan Advance as a Eurodollar Rate Loan shall be suspended and thereafter the Borrower may select only Alternate Base Rate Loans hereunder, and (ii) if any of the Lenders may not lawfully continue to maintain a Eurodollar Rate Loan to the end of the then current Interest Period applicable thereto as a Eurodollar Rate Loanthereto, the applicable Eurodollar Rate Loan shall immediately be converted to a an Alternate Base Rate Loan for the remainder of such Interest Period.

Laws Affecting Eurodollar Rate Availability. If, after the date hereof, the introduction of, or any change in, any Applicable Law or any change in the interpretation or administration thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any Lender of the Lenders (or any of its their respective Lending Offices) with any request or directive (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency, shall make it unlawful or impossible for any of the Lenders (or any of their respective Lending Offices) to honor its obligations hereunder to make or maintain any Eurodollar Rate Loan, such Lender shall promptly give notice thereof to the Administrative Agent and the Administrative Agent shall promptly give notice to the Borrower and the other Lenders. Thereafter, until the Administrative Agent notifies the Borrower that such circumstances no longer exist, (i) the obligations of the Lenders to make Eurodollar Rate Loans Loans, and the right of the Borrower to convert any Construction Loan Advance to a Eurodollar Loan or continue any Construction Loan Advance as a Eurodollar Rate Loan shall be suspended and thereafter the Borrower may select only Base Rate Loans hereunder, and (ii) if any of the Lenders may not lawfully continue to maintain a Eurodollar Rate Loan to the end of the then current Interest Period applicable thereto as a Eurodollar Rate Loanthereto, the applicable Eurodollar Rate Loan shall immediately be converted to a Base Rate Loan for the remainder of such Interest Period.

Laws Affecting Eurodollar Rate Availability. If, after the date hereof, the introduction of, or any change in, any Applicable Law applicable law or any change in the interpretation or administration thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any Lender of the Lenders (or any of its their respective Lending OfficesInstallations) with any request or directive (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency, shall make it unlawful or impossible for any of the Lenders (or any of their respective Lending OfficesInstallations) to honor its obligations hereunder to make or maintain any Eurodollar Rate Loan, such Lender shall promptly give notice thereof to the Administrative Agent and the Administrative Agent shall promptly give notice to the Borrower and the other Lenders. Thereafter, until the Administrative Agent notifies the Borrower that such circumstances no longer exist, (i) the obligations of the Lenders to make Eurodollar Rate Loans Loans, and the right of the Borrower to convert any Construction Loan Advance to a Eurodollar Advance or continue any Construction Loan Advance as a Eurodollar Rate Loan Advance shall be suspended and thereafter the Borrower may select only Base Floating Rate Loans hereunder, Advances and (ii) if any of the Lenders may not lawfully continue to maintain a Eurodollar Rate Loan to the end of the then current Interest Period applicable thereto as a Eurodollar Rate Loanthereto, the applicable Eurodollar Rate Loan Advances shall immediately be converted to a Base Floating Rate Loan Advance for the remainder of such Interest Period.

Laws Affecting Eurodollar Rate Availability. If, after the date hereof, the introduction of, or any change in, any Applicable Law or any change in the interpretation or administration thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any Lender of the Lenders (or any of its their respective Lending Offices) with any request or directive (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency, shall make it unlawful or impossible for any of the Lenders (or any of their respective Lending Offices) to honor its obligations hereunder to make or maintain any Eurodollar Rate Loan, such Lender shall promptly give notice thereof to the Administrative Agent and the Administrative Agent shall promptly give notice to the Borrower and the other Lenders. Thereafter, until the Administrative Agent notifies the Borrower that such circumstances no longer exist, (i) the obligations of the Lenders to make Eurodollar Rate Loans Loans, and the right of the Borrower to convert any Construction Loan Advance to a Eurodollar Loan or continue any Construction Loan Advance as a Eurodollar Rate Loan shall be suspended and thereafter the Borrower may select only Base Rate ABR Loans hereunder, and (ii) if any of the Lenders may not lawfully continue to maintain a Eurodollar Rate Loan to the end of the then current Interest Period applicable thereto as a Eurodollar Rate Loanthereto, the applicable Eurodollar Rate Loan shall immediately be converted to a Base Rate an ABR Loan for the remainder of such Interest Period.