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 Lenders, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law, in each case after the date upon which such Lender shall have become a Lender hereunder, makes it unlawful, or any central bank or other governmental authority asserts, after such date, that it is unlawful, for such Lender to make, continue or maintain any Loan as, or to convert any Loan into, a LIBO Rate Loan, the obligations of such Lender to make, continue, maintain or convert any Loans as LIBO Rate 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 (with the date of such notice being the "Reinstatement Date"), and (i) all LIBO Rate Loans previously made by 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 and (ii) all Loans thereafter made by such Lender and outstanding prior to the Reinstatement Date shall be made as Base Rate Loans, with interest thereon being payable on the same date that interest is payable with respect to the corresponding Borrowing of LIBO Rate Loans made by Lenders not so affected.

LIBO Rate Lending Unlawful. If any Revolving Credit Lender shall determine (which determination shall, upon notice thereof to the any Revolving Credit Borrower and the Revolving Credit Lenders, be conclusive and binding on the BorrowerRevolving Credit Borrowers) that the introduction of or any change in or in the interpretation of any law, in each case after the date upon which such Revolving Credit Lender shall have become a Revolving Credit Lender hereunder, makes it unlawful, or any central bank or other governmental authority Regulatory Authority asserts, after such date, that it is unlawful, for such Revolving Credit Lender to make, continue or maintain any Loan Revolving Credit as, or to convert any Loan Revolving Credit into, a LIBO Rate Loan, the obligations of such Revolving Credit Lender to make, continue, maintain or convert any Loans as such LIBO Rate Loans Loan shall, upon such determination, forthwith be suspended until such Revolving Credit Lender shall notify the Administrative Agent that the circumstances causing such suspension no longer exist (with the date of such notice being the "Reinstatement Date")exist, and (i) all outstanding LIBO Rate Loans previously made by of such Revolving Credit 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 and (ii) all Loans thereafter made by such assertion. Each Revolving Credit Lender and outstanding prior agrees to promptly give notice to the Reinstatement Date shall be made as Base Rate Loans, with interest thereon being payable on Administrative Agent and each Revolving Credit Borrower when the same date that interest is payable with respect circumstances causing such suspension cease to the corresponding Borrowing of LIBO Rate Loans made by Lenders not so affectedexist.

LIBO Rate Lending Unlawful. If any Lender shall determine (which determination shalldetermination, upon notice thereof to the Borrower and Administrative Agent (which notice the Lenders, be conclusive and binding on Administrative Agent agrees it will as promptly as practicable forward to the Borrower), absent manifest error, shall be prima facie evidence of the facts stated therein) that the introduction of or any change in or in the interpretation of any law, in each case after the date upon which such Lender shall have become a Lender hereunder, law makes it unlawful, or any central bank or other governmental authority asserts, after such date, asserts that it is unlawful, for such Lender to make, continue or maintain any Loan as, or to convert any Loan into, a LIBO Rate Loan, or to make or maintain any Competitive Bid Loan based on a LIBOR Auction, the obligations of such Lender to make, continue, maintain or convert any Loans as LIBO Rate such 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 (with the date of which notification such notice being the "Reinstatement Date"Lender agrees to give as promptly as practicable when such circumstances no longer exist), and (i) all LIBO Rate Loans previously made by 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 and (ii) all Loans thereafter made by assertion. If any Lender shall make such Lender and outstanding prior to the Reinstatement Date shall be made as Base Rate Loans, with interest thereon being payable on the same date that interest is payable determination with respect to the corresponding Borrowing making or maintaining a Competitive Bid Loan based on a LIBOR Auction and 50- 58 such Competitive Bid Loan is required by law or assertion to be prepaid on a date prior to the end of LIBO Rate Loans made by Lenders not so affectedthe Interest Period therefor, then the Borrower shall prepay such Competitive Bid Loan on such date.