Common use of LIBO Rate Lending Unlawful Clause in Contracts

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Administrative Agent, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority asserts that it is unlawful, for such Lender to make or continue any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue or convert any such LIBO Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 23 contracts

Samples: First Lien Exit Credit Agreement (Energy XXI Gulf Coast, Inc.), Credit Agreement (Reddy Ice Holdings Inc), Credit Agreement (Reddy Ice Holdings Inc)

AutoNDA by SimpleDocs

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Administrative AgentLenders, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority central bank or other governmental authority asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate LoanLoan of a certain type, subject to the provisions of Section 4.11 hereof, the obligations of such Lender all Lenders to make, continue continue, maintain or convert any such LIBO Rate Loan Loans shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to of such Lender type shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 11 contracts

Samples: Credit Agreement (Novamed Inc), Credit Agreement (Novamed Inc), Credit Agreement (Novamed Inc)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower Borrowers and the Administrative Agent, be conclusive and binding on the BorrowerBorrowers) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority asserts that it is unlawful, for such Lender to make or continue any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue or convert any such LIBO Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 11 contracts

Samples: Lien Credit Agreement (Standard Register Co), First Lien Credit Agreement (Standard Register Co), Credit Agreement (Standard Register Co)

LIBO Rate Lending Unlawful. If any Lender shall reasonably determine (which determination shall, upon notice thereof to the Borrower and the Administrative Agent, be conclusive and binding on the BorrowerBorrower absent manifest error) that the introduction of or any change in or in the interpretation of any law law, rule or regulation makes it unlawful, or any central bank or other Governmental Authority or comparable agency asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue continue, maintain or convert any such LIBO Rate Loan Loans shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to of such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 5 contracts

Samples: Credit Agreement (Midwest Generation LLC), Facility Lease Agreement (Edison Mission Energy), Credit Agreement (Midwest Generation LLC)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Administrative Agent, constitute prima facie evidence thereof and shall be conclusive and binding on the BorrowerBorrower absent manifest error) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority asserts that it is unlawful, for such Lender to make or continue any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue or convert any such LIBO Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 5 contracts

Samples: Credit Agreement (Hanesbrands Inc.), Credit Agreement (Hanesbrands Inc.), Credit Agreement (Hanesbrands Inc.)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Term Loan Borrower and the Administrative Agent, be conclusive and binding on the BorrowerBorrowers) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority asserts that it is unlawful, for such Lender to make or continue any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue or convert any such LIBO Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 4 contracts

Samples: Credit Agreement (Swift Holdings Corp.), Credit Agreement (Swift Holdings Corp.), Credit Agreement (Swift Transportation Co Inc)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Administrative Agentother Lenders, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any central bank or other Governmental Authority asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue continue, maintain or convert any such LIBO Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to of such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 4 contracts

Samples: Senior Secured Credit Agreement (Titan Corp), Senior Secured Credit Agreement (Titan Corp), Senior Secured Credit Agreement (Titan Corp)

LIBO Rate Lending Unlawful. If any Lender shall reasonably determine (which determination shall, upon notice thereof to the Borrower and the Administrative Agent, be conclusive and binding on the BorrowerBorrower absent manifest error) that the introduction of or any change in or in the interpretation of any law law, rule or regulation makes it unlawful, or any Governmental Authority central bank or other governmental authority or comparable agency asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue continue, maintain or convert any such LIBO Rate Loan Loans shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to of such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 4 contracts

Samples: Credit Agreement (Edison Mission Energy), Credit Agreement (Edison Mission Energy), Credit Agreement (Edison Mission Energy)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Administrative AgentLenders, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority central bank or other governmental authority asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Term Loan as, or to convert any Term Loan into, a LIBO Rate LoanLoan of a certain type, the obligations of such Lender all Lenders to make, continue continue, maintain or convert any such LIBO Rate Loan Term Loans shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to of such Lender type shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 4 contracts

Samples: Term Loan Agreement (Pci Carolina Inc), Term Loan Agreement (Pioneer East Inc), Term Loan Agreement (WHX Corp)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Administrative AgentLenders, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority central bank or other governmental authority asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate LoanLoan of a certain type, the obligations of such Lender all Lenders to make, continue continue, maintain or convert into any such LIBO Rate Loan Loans shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to of such Lender type shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 4 contracts

Samples: Credit Agreement (W-H Energy Services Inc), Credit Agreement (W-H Energy Services Inc), Credit Agreement (Aegis Communications Group Inc)

LIBO Rate Lending Unlawful. If any Lender shall reasonably determine (which determination shall, in the absence of manifest error and upon notice thereof to the Borrower Company and the Administrative Agent, be conclusive and binding on the each Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority asserts that it is unlawful, for such Lender to make or continue any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue or convert any such LIBO Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 4 contracts

Samples: Revolving Credit Agreement (Sterling Chemicals Inc), Production Agreement (Sterling Chemical Inc), Revolving Credit Agreement (Sterling Chemical Inc)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Administrative Agent, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law law, after the Closing Date, makes it unlawful, or any Governmental Authority asserts that it is unlawful, for such Lender to make or continue any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue or convert any such LIBO Rate Loan shall, upon such determinationafter the determination thereof, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 3 contracts

Samples: Possession Credit Agreement (Champion Enterprises Inc), Credit Agreement (Champion Enterprises Inc), Credit Agreement (Champion Enterprises Inc)

LIBO Rate Lending Unlawful. If any the Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Administrative AgentBorrower, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority central bank or other governmental authority asserts that it is unlawful, for such the Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations obligation of such the Lender to make, continue continue, maintain or convert into any such LIBO Rate Loan Loans shall, upon such determination, forthwith be suspended until such the Lender shall notify the Administrative Agent Borrower that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 3 contracts

Samples: Credit Agreement (Esenjay Exploration Inc), Credit Agreement (Esenjay Exploration Inc), Credit Agreement (Esenjay Exploration Inc)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Administrative AgentLenders, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority central bank or other governmental authority asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender all Lenders to make, continue continue, maintain or convert any such LIBO Rate Loan Loans shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 3 contracts

Samples: Guaranty Agreement, Credit Agreement (Price/Costco Inc), Credit Agreement (Calpine Corp)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Administrative Agent, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority asserts that it is unlawful, for such Lender to make or continue any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue or convert any such LIBO Rate Loan shall, upon such determinationafter the determination thereof, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 3 contracts

Samples: Credit Agreement (Brookfield Infrastructure Partners L.P.), Credit Agreement (Brookfield Infrastructure Partners L.P.), Credit Agreement (North Shore Agency Inc)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Administrative Agent, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority central bank or other governmental authority asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue continue, maintain or convert any such LIBO Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to of such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 3 contracts

Samples: Credit and Guaranty Agreement (E Z Serve Corporation), Credit and Guaranty Agreement (Key Components LLC), Credit and Guaranty Agreement (Key Components Finance Corp)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Administrative Agent, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority asserts that it is unlawful, for such Lender to make or continue any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue or convert any such LIBO Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 2 contracts

Samples: Credit Agreement (Energy Xxi (Bermuda) LTD), Credit Agreement (Energy Xxi (Bermuda) LTD)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Administrative Agent, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority asserts that it is unlawful, for such Lender to make or continue any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue or convert any such LIBO Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion. SECTION 4.2.

Appears in 2 contracts

Samples: Patent Security Agreement (United Surgical Partners International Inc), Credit Agreement (Winn Dixie Stores Inc)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Administrative AgentBorrowers, be conclusive and binding on the BorrowerBorrowers) that the introduction of or any change in or in the interpretation of any law Applicable Law makes it unlawful, or any central bank or other Governmental Authority Agency asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations obligation of such the Lender to make, continue continue, maintain or convert into any such LIBO Rate Loan Loans shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent and the Borrowers that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 2 contracts

Samples: Credit Agreement (American Rivers Oil Co /De/), Credit Agreement (Alliance Resources PLC)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Administrative AgentLenders, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority central bank or other governmental authority asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue continue, maintain or convert any such LIBO Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to of such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 2 contracts

Samples: Security Agreement (Titan Corp), Credit Agreement (Titan Corp)

LIBO Rate Lending Unlawful. If any Lender shall reasonably determine (which determination shall, upon notice thereof to the Borrower and the Administrative AgentLenders, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority central bank or other governmental authority asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue continue, maintain or convert any such LIBO Rate Loan Loans shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to of such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 2 contracts

Samples: Credit Agreement (Moore Corporation LTD), Credit Agreement (Kirkwood Acquisition Corp)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Administrative Borrower and the Administrative Agent, be conclusive and binding on the BorrowerBorrowers) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority asserts that it is unlawful, for such Lender to make or continue any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue or convert any such LIBO Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 2 contracts

Samples: Credit Agreement (Winn Dixie Stores Inc), Credit Agreement (Winn Dixie Stores Inc)

LIBO Rate Lending Unlawful. If any Lender shall determine -------------------------- (which determination shall, upon notice thereof to the Borrower and the Administrative AgentLenders, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority central bank or other governmental authority asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender all Lenders to make, continue continue, maintain or convert any such LIBO Rate Loan Loans shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 2 contracts

Samples: Credit Agreement (One Source Telecommunications Inc), Credit Agreement (Ameritel Pay Phones Inc)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Administrative Borrower and the Administrative Agent, be conclusive and binding on the BorrowerBorrowers) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority asserts that it is unlawful, for such Lender to make or continue any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue or convert any such LIBO Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 2 contracts

Samples: Credit Agreement (Winn Dixie Stores Inc), Credit Agreement (Winn Dixie Stores Inc)

LIBO Rate Lending Unlawful. If any Lender shall determine in good faith (which determination shall, upon notice thereof to the Borrower and the Administrative Agent, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority asserts that it is unlawful, for such Lender to make or continue any Term Loan as, or to convert any Term Loan into, a LIBO Rate Term Loan, the obligations of such Lender to make, continue or convert any such LIBO Rate Term Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Term Loans payable to such Lender shall automatically convert into Base Rate Term Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Marvel Enterprises Inc)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Administrative Agent, be conclusive prima facie evidence thereof and shall be binding on the Borrower, absent manifest error) that the introduction of or any change in or in the interpretation of any law after the Closing Date makes it unlawful, or any Governmental Authority asserts that it is unlawful, for such Lender to make or continue any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue or convert any such LIBO Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Graphic Packaging Corp)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Administrative Agent, the Borrower and the Administrative Agentother Lenders, be conclusive and binding on the BorrowerObligors) that the introduction of or any change in in, or in the interpretation of of, any law makes it unlawful, or any central bank or other Governmental Authority Instrumentality asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue continue, maintain or convert any such LIBO Rate Loan shall, upon such determinationnotification, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto thereto, or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Possession Credit Agreement

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Administrative AgentLenders, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Regulatory Authority asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue continue, maintain or convert any such LIBO Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto thereto, or sooner, sooner if required by such law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Prosource Inc)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Administrative Agentother Lenders, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority central bank or other governmental authority asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender all Lenders to make, continue continue, maintain or convert into any such LIBO Rate Loan Loans shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Cable Tv Fund 11-B LTD)

LIBO Rate Lending Unlawful. If any Lender shall determine -------------------------- (which determination shall, upon notice thereof to the Borrower and the Administrative AgentLenders, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority central bank or other governmental authority asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender all Lenders to make, continue continue, maintain or convert any such LIBO Rate Loan Loans shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Buy Com Inc)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Administrative Agent, the Borrower and the Administrative Agentother Lenders, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority central bank or other governmental authority asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue continue, maintain or convert any such LIBO Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto thereto, or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Aladdin Gaming Enterprises Inc)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower Parent and the Administrative AgentLenders, be conclusive and binding on the BorrowerBorrowers) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority central bank or other governmental authority asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate LoanLoan of a certain type, the obligations of such Lender all Lenders to make, continue continue, maintain or convert into any such LIBO Rate Loan Loans shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Paying Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to of such Lender type shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Triarc Companies Inc)

AutoNDA by SimpleDocs

LIBO Rate Lending Unlawful. If any Lender -------------------------- shall determine (which determination shall, upon notice thereof to the Borrower Parent and the Administrative AgentLenders, be conclusive and binding on the BorrowerBorrowers) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority central bank or other governmental authority asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate LoanLoan of a certain type, the obligations of such Lender all Lenders to make, continue continue, maintain or convert into any such LIBO Rate Loan Loans shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to of such Lender type shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Triarc Companies Inc)

LIBO Rate Lending Unlawful. If any Lender shall reasonably determine (which determination shall, upon notice thereof to the Borrower and the Administrative Agent, be conclusive and binding on the BorrowerBorrower absent manifest error) that the introduction of or any change in or in the interpretation of any law law, rule or regulation makes it unlawful, or any central bank or other Governmental Authority or comparable agency asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue continue, maintain or convert any such LIBO Rate Loan Loans shall, upon such determination, 49 forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to of such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Midwest Generation LLC)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower Borrowers and the Administrative AgentLenders, be conclusive and binding on the each Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority central bank or other governmental authority asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender all Lenders to make, continue continue, maintain or convert any such LIBO Rate Loan Loans shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Cencom Cable Income Partners Ii L P)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower Borrowers and the Administrative Agent, be conclusive and binding on the each Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority asserts that it is unlawful, for such Lender to make or continue any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue or convert any such LIBO Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Adelphia Communications Corp)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Administrative Agent, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority central bank or other governmental authority asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue continue, maintain or convert any such LIBO Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to of such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Imo Industries Inc)

LIBO Rate Lending Unlawful. If any the Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Administrative AgentBorrower, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority central bank or other governmental authority asserts that it is unlawful, for such the Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate LoanLoan of a certain type, the obligations of such the Lender to make, continue continue, maintain or convert any such LIBO Rate Loan Loans shall, upon such determination, forthwith be suspended until such the Lender shall notify the Administrative Agent Borrower that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to of such Lender type shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion. SECTION IV.2.

Appears in 1 contract

Samples: Credit Agreement (Vista Gold Corp)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower Borrowers and the Administrative Agent, be conclusive and binding on the BorrowerBorrowers) that the introduction of or any change in or in the interpretation of any law Applicable Law makes it unlawful, or any Governmental Authority asserts that it is unlawful, for such Lender to make or continue any Loan Loans as, or to convert any Loan Loans into, a LIBO Rate Loan, the obligations of such Lender to make, continue or convert any such LIBO Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law Applicable Law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Hecla Mining Co/De/)

LIBO Rate Lending Unlawful. If any Lender shall reasonably determine (which determination shall, upon notice thereof to the Borrower and the Administrative Agent, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or that any Governmental Authority asserts has asserted that it is unlawful, for such Lender to make or continue any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue or convert any such LIBO Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Alternate Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Mitel Networks Corp)

LIBO Rate Lending Unlawful. If any Lender shall determine -------------------------- (which determination shall, upon notice thereof to the Borrower Borrowers and the Administrative AgentLenders, be conclusive and binding on the BorrowerBorrowers) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority central bank or other governmental authority asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender all Lenders to make, continue continue, maintain or convert any such LIBO Rate Loan Loans shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Ambac Financial Group Inc)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Administrative Agent, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law Applicable Law makes it unlawful, or any Governmental Authority asserts that it is unlawful, for such Lender to make or continue any Loan Loans as, or to convert any Loan Loans into, a LIBO Rate Loan, the obligations of such Lender to make, continue or convert any such LIBO Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law Applicable Law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Hecla Mining Co/De/)

LIBO Rate Lending Unlawful. If any Lender shall in good faith determine (which determination shall, upon notice thereof to the Borrower Borrowers and the Administrative AgentLenders, be conclusive and binding on the BorrowerBorrowers) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority central bank or other governmental authority asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate LoanLoan of a certain type, the obligations obligation of such Lender to make, continue continue, maintain or convert into any such LIBO Rate Loan Loans shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to of such Lender type shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Triarc Companies Inc)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Administrative Agent, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority central bank or other governmental authority asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue continue, maintain or convert any such LIBO Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Selfcare Inc)

LIBO Rate Lending Unlawful. If any Lender shall determine -------------------------- (which determination shall, upon notice thereof to the Borrower and the Administrative Agent, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority asserts that it is unlawful, for such Lender to make or continue any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue or convert any such LIBO Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Stillwater Mining Co /De/)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower USAM and the Administrative Agent, be conclusive and binding on the BorrowerBorrowers) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority central bank or other governmental authority asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue continue, maintain or convert any such LIBO Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Security Agreement (Us Automotive Manufacturing Inc)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Administrative AgentBorrower, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority central bank or other governmental authority asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender the Lenders to make, continue continue, maintain or convert into any such LIBO Rate Loan Loans shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent Borrower that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Warnaco Group Inc /De/)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower Borrowers and the Administrative AgentLenders, be conclusive and binding on the BorrowerBorrowers) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority central bank or other governmental authority asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue continue, maintain or convert any such LIBO Rate Loan Loans shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to of such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.automatically

Appears in 1 contract

Samples: Credit Agreement (Penford Corp)

LIBO Rate Lending Unlawful. If any the Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Administrative AgentBorrowers, be conclusive and binding on the BorrowerBorrowers) that the introduction of or any change in or in the interpretation of any law Applicable Law makes it unlawful, or any central bank or other Governmental Authority Agency asserts that it is unlawful, for such the Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations obligation of such the Lender to make, continue continue, maintain or convert into any such LIBO Rate Loan Loans shall, upon such determination, forthwith be suspended until such the Lender shall notify the Administrative Agent Borrowers that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Alliance Resources PLC)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Administrative Borrower and the Administrative Agent, be conclusive and binding on the BorrowerBorrowers) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority asserts that it is unlawful, for such Lender to make or continue any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue or convert any such LIBO Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Winn Dixie Stores Inc)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower Royalty Sub and the Administrative Agent, be conclusive and binding on the BorrowerRoyalty Sub) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority asserts that it is unlawful, for such Lender to make or continue any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue or convert any such LIBO Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Quintiles Transnational Corp)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower Borrowers and the Administrative Agent, be conclusive and binding on the BorrowerBorrowers) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority asserts that it is unlawful, for such Lender to make or continue any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue or convert any such LIBO Rate Loan shall, upon such determinationafter the determination thereof, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.

Appears in 1 contract

Samples: Credit Agreement (Brookfield Infrastructure Partners L.P.)

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to the Borrower and the Administrative Agent, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law makes it unlawful, or any Governmental Authority central bank or other governmental authority asserts that it is unlawful, for such Lender to make make, continue or continue maintain any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue continue, maintain or convert any such LIBO Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist, and all outstanding LIBO Rate Loans payable to of such Lender shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law or assertion.. SECTION 4.2

Appears in 1 contract

Samples: Credit Agreement (Pep Boys Manny Moe & Jack)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!