Common use of Laws Affecting LIBOR Rate Availability Clause in Contracts

Laws Affecting LIBOR 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 their respective Lending Offices) with any directive 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 Loan, such Lender shall promptly give notice thereof to the Agent and the Agent shall promptly give notice to the Borrower and the other Lenders. Thereafter, until the Agent notifies the Borrower that such circumstances no longer exist (which notification shall be given promptly, but in any event within ten (10) days after the Agent obtains actual knowledge that such circumstances no longer exist), the obligations of the Lenders to make Loans, shall be suspended, and the Borrower shall repay in full (or cause to be repaid in full) the then outstanding principal amount of each such Loan, together with accrued interest thereon, on the last day of the then current Interest Period applicable to such Loan or convert the then outstanding principal amount of such Loans and Reimbursement Obligations to a Base Rate Loan as of the last day of such Interest Period.

Laws Affecting LIBOR 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 their respective Lending Offices) with any directive 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 LIBOR Rate Loan, such Lender shall promptly give notice thereof to the Agent and the Agent shall promptly give notice to the Borrower and the other Lenders. Thereafter, until the Agent notifies the Borrower that such circumstances no longer exist (which notification shall be given promptly, but in any event within ten (10) days after the Agent obtains actual knowledge that such circumstances no longer exist), (i) the obligations of the Lenders to make Loans, LIBOR Rate Loans and the right of the Borrower to convert any Loan or continue any Loan as a LIBOR Rate Loan shall be suspendedsuspended and thereafter the Borrower may select only Base Rate Loans hereunder, and (ii) if any of the Borrower shall repay in full (or cause Lenders may not lawfully continue to be repaid in full) maintain a LIBOR Rate Loan to the then outstanding principal amount of each such Loan, together with accrued interest thereon, on the last day end of the then current Interest Period applicable to such thereto as a LIBOR Rate Loan, the applicable LIBOR Rate Loan or convert the then outstanding principal amount of such Loans and Reimbursement Obligations shall immediately be converted to a Base Rate Loan as of for the last day remainder of such Interest Period.

Laws Affecting LIBOR 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 their respective Lending Offices) with any request or directive (whether or not having the force of law) issued after the date hereof 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 LIBOR 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 25 <PAGE> 26the Administrative Agent notifies the Borrower that such circumstances no longer exist exist, (which notification shall be given promptly, but in any event within ten (10i) days after the Agent obtains actual knowledge that such circumstances no longer exist), the obligations of the Lenders to make Loans, LIBOR Rate Loans and the right of the Borrower to convert any Revolving Credit Loan or continue any Revolving Credit Loan as a LIBOR Rate Loan shall be suspendedsuspended and thereafter the Borrower may select only Base Rate Loans hereunder, and (ii) if any of the Borrower shall repay in full (or cause Lenders may not lawfully continue to be repaid in full) maintain a LIBOR Rate Loan to the then outstanding principal amount of each such Loan, together with accrued interest thereon, on the last day end of the then current Interest Period applicable to such thereto as a LIBOR Rate Loan, the applicable LIBOR Rate Loan or convert the then outstanding principal amount of such Loans and Reimbursement Obligations shall immediately be converted to a Base Rate Loan as of for the last day remainder of such Interest Period.

Laws Affecting LIBOR Rate Availability. IfSubject to clause (c) below, 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 their respective Lending Officeslending 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 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 exist, (which notification shall be given promptly, but in any event within ten (10i) days after the Agent obtains actual knowledge that such circumstances no longer exist), the obligations of the Lenders to make Eurodollar Loans, shall be suspended, and the right of the Borrower to convert any Loan to a Eurodollar Loan or continue any Loan as a Eurodollar Loan shall repay in full be suspended and thereafter the Borrower may select only ABR Loans and (or cause ii) if any of the Lenders may not lawfully continue to be repaid in full) maintain a Eurodollar Loan to the then outstanding principal amount of each such Loan, together with accrued interest thereon, on the last day end of the then current Interest Period applicable thereto, the applicable Loan shall immediately be converted to such an ABR Loan or convert for the then outstanding principal amount of such Loans and Reimbursement Obligations to a Base Rate Loan as of the last day remainder of such Interest Period.