Common use of LIBOR Rate Lending Unlawful Clause in Contracts

LIBOR Rate Lending Unlawful. If the Bank shall determine (which determination shall, upon notice thereof to the Borrower be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law, rule, regulation or guideline, (whether or not having the force of law) makes it unlawful, or any central bank or other governmental authority asserts that it is unlawful, for the Bank to make, continue or maintain the Loan as, or to convert the Loan into, a LIBOR Rate Loan, and if the Loan is then presently a LIBOR Rate Loan, it shall automatically convert into a LIBOR-Reference Banks Loan at the end of the then current Interest Period or sooner, if required by such law or assertion. For purposes of this agreement, in the event of such a conversion, all LIBOR-Reference Banks Rate Loans shall be treated (except as to interest rate) as equivalent to a LIBOR Rate Loan of similar amount and Interest Period. For greater certainty, all provisions of this agreement relating to LIBOR Rate Loans shall apply equally to LIBOR-Reference Banks Loans, including, but not limited to the manner in which LIBOR-Reference Banks Loans are requested, continued, converted, the manner in which interest accrues, is payable, principal payments are made, whether voluntary or involuntary, as well as any penalties, increased costs or taxes associated with any of the foregoing.

LIBOR Rate Lending Unlawful. If the Bank shall determine (which determination shall, upon notice thereof to the Borrower be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law, rule, regulation or guideline, (whether or not having the force of law) makes it unlawful, or any central bank or other governmental authority asserts that it is unlawful, for the Bank to make, continue or maintain the any LIBOR Rate Loan as, or to convert the any Loan into, a LIBOR Rate LoanLoan of a certain duration, and if the Loan is then presently a all LIBOR Rate Loan, it Loans of such type shall automatically convert into a LIBOR-Reference Banks Loan Loans at the end of the then current Interest Period Periods with respect thereto or sooner, if required by such law or assertion. For purposes of this agreement, in the event of such a conversion, all LIBOR-Reference Banks Rate Loans shall be treated (except as to interest rate) as equivalent to a LIBOR Rate Loan of similar amount and Interest Period. For greater certainty, all provisions of this agreement relating to LIBOR Rate Loans shall apply equally to LIBOR-Reference Banks Loans, including, but not limited to the manner in which LIBOR-Reference Banks Loans are requested, continued, converted, the manner in which interest accrues, is payable, principal payments are made, whether voluntary or involuntary, as well as any penalties, increased costs or taxes associated with any of the foregoing.

LIBOR Rate Lending Unlawful. If the Bank shall determine (which determination shall, upon notice thereof to the Borrower Borrowers be conclusive and binding on the BorrowerBorrowers) that the introduction of or any change in or in the interpretation of any law, rule, regulation or guideline, (whether or not having the force of law) makes it unlawful, or any central bank or other governmental authority asserts that it is unlawful, for the Bank to make, continue or maintain the any LIBOR Rate Loan as, or to convert the any Loan into, a LIBOR Rate LoanLoan of a certain duration, and if the Loan is then presently a all LIBOR Rate Loan, it Loans of such type shall automatically convert into a LIBOR-Reference Banks Loan Loans at the end of the then current Interest Period Periods with respect thereto or sooner, if required by such law or assertion. For purposes of this agreementCredit Agreement, in the event of such a conversion, all LIBOR-Reference Banks Rate Loans shall be treated (except as to interest rate) as equivalent to a LIBOR Rate Loan of similar amount and Interest Period. For greater certainty, all provisions of this agreement Credit Agreement relating to LIBOR Rate Loans shall apply equally to LIBOR-Reference Banks Loans, including, but not limited to the manner in which LIBOR-Reference Banks Loans are requested, continued, converted, the manner in which interest accrues, is payable, principal payments are made, whether voluntary or involuntary, as well as any penalties, increased costs or taxes associated with any of the foregoing.

LIBOR Rate Lending Unlawful. If the Bank Lender shall determine (which determination shall, upon notice thereof to the Borrower be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law, rule, regulation or guideline, (whether or not having the force of law) makes it unlawful, or any central bank or other governmental authority asserts that it is unlawful, for the Bank Lender to make, continue or maintain the any LIBOR Rate Loan as, or to convert the any Loan into, a LIBOR Rate LoanLoan of a certain duration, and if the Loan is then presently a all LIBOR Rate Loan, it Loans of such type shall automatically convert into a LIBOR-Reference Banks Loan Loans at the end of the then current Interest Period Periods with respect thereto or sooner, if required by such law or assertion. For purposes of this agreementAgreement, in the event of such a conversion, all LIBOR-Reference Banks Rate Loans shall be treated (except as to interest rate) as equivalent to a LIBOR Rate Loan of similar amount and Interest Period. For greater certainty, all provisions of this agreement Agreement relating to LIBOR Rate Loans shall apply equally to LIBOR-Reference Banks Loans, including, but not limited to the manner in which LIBOR-Reference Banks For the avoidance of doubt, in the event of such conversion, all provisions under this Agreement relating to LIBOR Rate Loans shall apply to LIBOR-Reference Banks Loans, including, but not limited to the manner in which LIBOR Rate Loans are requested, continued, converted, the manner in which interest accrues, is payable, principal payments are made, whether voluntary or involuntary, as well as any penalties, increased costs or taxes associated with any of the foregoing.

LIBOR Rate Lending Unlawful. If after the Bank Closing Date, the Agent (or any Lender) shall determine (which determination shall, upon notice thereof to the Borrower Agent be conclusive and binding on the BorrowerBorrowers) that the introduction of or any change in or in the interpretation of any law, rulerule or regulation, regulation or guideline, (whether or not having the force of law) makes it unlawful, or any central bank or other governmental authority asserts that it is unlawful, for the Bank Agent (or any Lender) to make, continue or maintain the any LIBOR Rate Loan as, or to convert the any Revolving Loan into, a LIBOR Rate LoanLoan of a certain duration, and if the Loan is then presently a all existing LIBOR Rate Loan, it Loans of such type shall automatically convert into a LIBOR-Reference Banks Loan Loans at the end of the then current Interest Period Periods with respect thereto or sooner, if required by such law or assertion. For purposes of this agreement, in the event of such a conversion, all LIBOR-Reference Banks Rate Loans shall be treated (except as to interest rate) as equivalent to a LIBOR Rate Loan of similar amount and Interest Period. For greater certainty, all provisions of this agreement relating to LIBOR Rate Loans shall apply equally to LIBOR-Reference Banks Loans, including, but not limited to the manner in which LIBOR-Reference Banks Rate Loans are requested, continued, converted, the manner in which interest accrues, is payable, principal payments are made, whether voluntary or involuntary, as well as any penalties, increased costs or taxes associated with any of the foregoing.