Common use of LIBO Rate Lending Unlawful Clause in Contracts

LIBO Rate Lending Unlawful. If, on or after the date hereof, the adoption of any applicable law, rule or regulation, or any change therein, 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 Participant (or its Funding Office) with any request or directive (whether or not having the force of law) of any such authority, central bank or comparable agency shall make it unlawful or impossible for any Participant (or its Funding Office) to make, maintain or fund Loans or Lessor Amounts, as applicable, and such Participant shall so notify the Lessee, whereupon until such Participant notifies the Lessee that the circumstances giving rise to such suspension no longer exist, the obligation to make Loans or Lessor Amounts, as applicable, shall be suspended. Such Participant, with the consent of the Lessee (which consent shall not unreasonably be withheld), will designate a different Funding Office if such designation will avoid the need for giving such notice and will not, in the judgment of such Participant, be otherwise disadvantageous to such Participant. If such notice is given (i) each Lessee shall be entitled upon its request to a reasonable explanation of the factors underlying such notice and (ii) each Advance then outstanding shall begin to bear interest at the Alternate Base Rate either (a) on the last day of the then current Interest Period applicable thereto, if such Participant may lawfully continue to maintain and fund such Advance to such day or (b) immediately, if such Participant shall determine that it may not lawfully continue to maintain and fund such Advance to such day.

LIBO Rate Lending Unlawful. IfIf any Participant shall determine (which determination shall, upon notice thereof to Lessee and the Participants, be conclusive and binding on Lessee) that any change in or in the interpretation of any law after the date hereof, the adoption of any applicable law, rule or regulationhereof makes it unlawful, or any change therein, or any change in the interpretation or administration thereof by any governmental authority, central bank or comparable agency charged with other Governmental Authority asserts that it is unlawful, for such Participant to make available, continue or maintain any Loan or Certificate Amount that bears Interest or Yield based upon the interpretation LIBO Rate, as the case may be, the obligation of such Participant to make available, continue or administration thereof, or compliance by any Participant (or its Funding Office) with any request or directive (whether or not having the force of law) of maintain any such authority, central bank Loan or comparable agency shall make it unlawful or impossible for any Participant (or its Funding Office) to make, maintain or fund Loans or Lessor AmountsCertificate Amount, as applicablethe case may be, and shall, upon such determination, forthwith be suspended until such Participant shall so notify the Lessee, whereupon until such Participant notifies the Lessee and Lessor that the circumstances giving rise to causing such suspension no longer existexist and, to the obligation to make extent required by any such introduction of or change in or in the interpretation of any law, all Loans or Lessor Certificate Amounts, as applicablethe case may be, shall be suspended. Such Participant, with the consent of the Lessee (which consent shall not unreasonably be withheld), will designate a different Funding Office if such designation will avoid the need for giving such notice and will not, in the judgment of such Participant, be otherwise disadvantageous to such Participant. If such notice is given (i) each Lessee Participant shall be entitled upon its request to a reasonable explanation of the factors underlying such notice and (ii) each Advance then outstanding shall begin to automatically bear interest Interest or accrue Yield at the Alternate Base Rate either (a) on the last day of the then current Interest Period applicable theretoto such Loan or Certificate Amount, as the case may be, if such Participant may lawfully continue to maintain and fund such Advance to such day Loan or Certificate Amount, or (b) immediately, immediately if such Participant shall determine that it may not lawfully continue to maintain and fund such Advance Loan or Certificate Amount, as the case may be, to such dayday thereto or sooner, if required by such law or assertion.

LIBO Rate Lending Unlawful. If, on or after the date hereofClosing Date, any Participant shall reasonably determine (which determination shall, upon notice thereof to the adoption Lessee and the Participants, be conclusive and binding on the Lessee and which notice shall be withdrawn whenever the applicable circumstances no longer exist) that the introduction of any applicable law, rule or regulation, or any change therein, or any change in or in the interpretation of any Applicable Law makes it unlawful, or administration thereof by any governmental authority, central bank or comparable agency charged with other Governmental Authority asserts that it is unlawful, for such Participant to make available, continue or maintain any Loan or Lessor Amount that bears Interest or Yield based upon the interpretation LIBO Rate, as the case may be, the obligation of such Participant to make available, continue or administration thereof, or compliance by any Participant (or its Funding Office) with any request or directive (whether or not having the force of law) of maintain any such authority, central bank or comparable agency shall make it unlawful or impossible for any Participant (or its Funding Office) to make, maintain or fund Loans Loan or Lessor AmountsAmount, as applicablethe case may be, and shall, upon such determination, forthwith be suspended until such Participant shall so notify the Lessee, whereupon until such Participant notifies Lessee and the Lessee Lessor that the circumstances giving rise to causing such suspension no longer existexist and, to the obligation to make Loans extent required by any such introduction of or change in or in the interpretation of any law, all Loans, or Lessor AmountsAmount, as applicablethe case may be, shall be suspended. Such Participant, with the consent of the Lessee (which consent shall not unreasonably be withheld), will designate a different Funding Office if such designation will avoid the need for giving such notice and will not, in the judgment of such Participant, be otherwise disadvantageous to such Participant. If such notice is given (i) each Lessee Participant shall be entitled upon its request to a reasonable explanation of the factors underlying such notice and (ii) each Advance then outstanding shall begin to automatically bear interest Interest or accrue Yield at the Alternate Base Rate either (a) on the last day of the then current Interest Period applicable theretoto such Loan or Lessor Amount, as the case may be, if such Participant may lawfully continue to maintain and fund such Advance to such day Loan or Lessor Amount, or (b) immediately, immediately if such Participant shall determine that it may not lawfully continue to maintain and fund such Advance Loan or Lessor Amount, as the case may be, to such dayday thereto or sooner, if required by such law or assertion.

LIBO Rate Lending Unlawful. IfIf any Participant shall determine (which determination shall, upon notice thereof to the Lessee and the Participants, be conclusive and binding on or after the date hereof, Lessee absent manifest error) that the adoption introduction of any applicable law, rule or regulation, or any change therein, or any change in the interpretation of any law makes it unlawful, or administration thereof by any governmental authority, central bank or comparable agency charged with other Governmental Authority asserts that it is unlawful, for such Participant to make available, continue or maintain any Loan or Certificate Amount that bears Interest or Yield based upon the interpretation LIBO Rate, as the case may be, the obligation of such Participant to make available, continue or administration thereof, or compliance by any Participant (or its Funding Office) with any request or directive (whether or not having the force of law) of maintain any such authorityLoan or Certificate Amount, central bank or comparable agency as the case may be, shall, upon such determination, forthwith be suspended (provided that such Participant shall make it unlawful or impossible for any Participant (or its Funding Office) be obligated to make, continue or maintain any such Loan or fund Loans Certificate Amount bearing Interest or Lessor Amounts, Yield at the Alternate Base Rate as applicable, and specified below) (unless such Participant determines in its sole discretion that it can continue to make any Loan or Certificate Amount based upon the LIBO Rate at one of its lending offices where such action would not be deemed unlawful) until such Participant shall so notify the Lessee, whereupon until such Participant notifies Lessee and the Lessee Lessor that the circumstances giving rise to causing such suspension no longer existexist and, to the obligation to make extent required by any such introduction of or change in or in the interpretation of any law, all Loans or Lessor Certificate Amounts, as applicablethe case may be, shall be suspended. Such Participant, with the consent of the Lessee (which consent shall not unreasonably be withheld), will designate a different Funding Office if such designation will avoid the need for giving such notice and will not, in the judgment of such Participant, be otherwise disadvantageous to such Participant. If such notice is given (i) each Lessee Participant shall be entitled upon its request to a reasonable explanation of the factors underlying such notice and (ii) each Advance then outstanding shall begin to automatically bear interest Interest or accrue Yield at the Alternate Base Rate either (a) on the last day of the then current Interest Period applicable theretoto such Loan or Certificate Amount, as the case may be, if such Participant may lawfully continue to maintain and fund such Advance to such day Loan or Certificate Amount, or (b) immediately, immediately if such Participant shall determine that it may not lawfully continue to maintain and fund such Advance Loan or Certificate Amount, as the case may be, to such dayday thereto or sooner, if required by such law or assertion.

LIBO Rate Lending Unlawful. IfIf any Participant shall reasonably determine (which determination shall, upon notice thereof to the Lessee and the Participants, be conclusive and binding on or after the date hereof, Lessee and which notice shall be withdrawn whenever the adoption applicable circumstances no longer exist) that the introduction of any applicable law, rule or regulation, or any change therein, or any change in or in the interpretation of any law makes it unlawful, or administration thereof by any governmental authority, central bank or comparable agency charged with other Governmental Authority asserts that it is unlawful, for such Participant to make available, continue or maintain any Loan or Lessor Amount that bears Interest or Yield based upon the interpretation LIBO Rate, as the case may be, the obligation of such Participant to make available, continue or administration thereof, or compliance by any Participant (or its Funding Office) with any request or directive (whether or not having the force of law) of maintain any such authority, central bank or comparable agency shall make it unlawful or impossible for any Participant (or its Funding Office) to make, maintain or fund Loans Loan or Lessor AmountsAmount, as applicablethe case may be, and on a LIBO Rate basis shall, upon such determination, forthwith be suspended (unless such Participant determines in its sole discretion that it can continue to make any Loan or Lessor Amount based upon the LIBO Rate at one of its lending offices where such action would not be deemed unlawful) until such Participant shall so notify the Lessee, whereupon until such Participant notifies the Lessee and Lessor that the circumstances giving rise to causing such suspension no longer existexist and, to the obligation to make extent required by any such introduction of or change in or in the interpretation of any law, all Loans or and Lessor AmountsAmount, as applicablethe case may be, shall be suspended. Such Participant, with the consent of the Lessee (which consent shall not unreasonably be withheld), will designate a different Funding Office if such designation will avoid the need for giving such notice and will not, in the judgment of such Participant, be otherwise disadvantageous to such Participant. If such notice is given (i) each Lessee Participant shall be entitled upon its request to a reasonable explanation of the factors underlying such notice and (ii) each Advance then outstanding shall begin to automatically bear interest Interest or accrue Yield at the Alternate Base Rate either (a) on the last day of the then current Interest Period applicable theretoto such Loan or Lessor Amount, as the case may be, if such Participant may lawfully continue to maintain and fund such Advance to such day Loan or Lessor Amount, or (b) immediately, immediately if such Participant shall determine that it may not lawfully continue to maintain and fund such Advance Loan or Lessor Amount, as the case may be, to such dayday thereto or sooner, if required by such law or assertion.

LIBO Rate Lending Unlawful. IfIf any Participant shall determine (which determination shall, upon notice thereof to Lessee and the Participants, be conclusive and binding on or after Lessee) that the date hereof, the adoption introduction of any applicable law, rule or regulation, or any change therein, or any change in or in the interpretation of any law makes it unlawful, or administration thereof by any governmental authority, central bank or comparable agency charged with other Governmental Authority asserts that it is unlawful, for such Participant to make available, continue or maintain any Certificate Amount that accrues Rent based upon the interpretation LIBO Rate, the obligation of such Participant to make available, continue or administration thereof, or compliance by any Participant (or its Funding Office) with any request or directive (whether or not having the force of law) of maintain any such authorityCertificate Amount, central bank or comparable agency shall make it unlawful or impossible for any Participant (or its Funding Office) to makeshall, maintain or fund Loans or Lessor Amountsupon such determination, as applicable, and forthwith be suspended until such Participant shall so notify Lessee and the Lessee, whereupon until such Participant notifies the Lessee Administrative Agent that the circumstances giving rise to causing such suspension no longer existexist and, to the obligation to make Loans extent required by any such introduction of or Lessor Amounts, as applicable, shall be suspended. Such Participant, with the consent of the Lessee (which consent shall not unreasonably be withheld), will designate a different Funding Office if such designation will avoid the need for giving such notice and will not, change in or in the judgment interpretation of any law, all Certificate Amounts of such Participant, be otherwise disadvantageous to such Participant. If such notice is given (i) each Lessee Participant that accrue Rent based upon the LIBO Rate shall be entitled upon its request to a reasonable explanation of the factors underlying such notice and (ii) each Advance then outstanding shall begin to bear interest automatically accrue Rent at the Alternate Base Rate either (a) on the last day of the then current Interest Period applicable thereto, to such Certificate Amount if such Participant may lawfully continue to maintain and fund such Advance to such day Certificate Amount, or (b) immediately, immediately if such Participant shall determine that it may not lawfully continue to maintain and fund such Advance Certificate Amount to such dayday thereto or sooner, if required by such law or assertion.