LIBOR Unlawful Sample Clauses

LIBOR Unlawful. In the event that, as a result of any changes in applicable law or regulation or the interpretation thereof, it becomes unlawful for Bank to maintain or fund any Advance at the LIBOR Based Rate, then Bank shall immediately notify Borrower thereof and Bank's obligation to make, convert to, or maintain any Advance at the LIBOR Based Rate shall be suspended until such time as Bank may again cause the LIBOR Based Rate to be applicable and, until such time, Advances subject to the LIBOR Based Rate shall accrue interest at the Prime Based Rate. Promptly after becoming aware that it is no longer unlawful for Bank to maintain or fund Advances at the LIBOR Based Rate, Bank shall notify Borrower thereof and such suspension shall cease to exist.
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LIBOR Unlawful. In the event that, as a result of any change in any applicable law or regulation or the interpretation thereof, it becomes unlawful for Bank to maintain any Advance under the Revolving Credit Facility at the LIBOR Rate plus Applicable Margin, then Bank shall notify Borrower thereof and Bank’s obligation to make or maintain any Advance under the Revolving Credit Facility at the LIBOR Rate plus Applicable Margin shall be suspended until such time as Bank may again cause the LIBOR Rate plus Applicable Margin to be applicable and, until such time, such Advances under the Revolving Credit Facility shall accrue interest at the Base Rate plus one hundred fifty (150) basis points, subject to the terms of Section 5.4. Promptly after becoming aware that it is no longer unlawful for Bank to maintain Advances under the Revolving Credit Facility at the LIBOR Rate plus Applicable Margin, Bank shall notify Borrower and such suspension shall cease to exist.
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LIBOR Unlawful. 30 7.6 Indemnification................................................... 30 7.7 Determinations.................................................... 30 7.8
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LIBOR Unlawful. In the event that, as a result of any change in -------------- any applicable law or regulation or the interpretation thereof, it becomes unlawful for Bank to maintain any advance under the Revolving Credit Facility or the Term Loan at the LIBOR Rate plus Applicable Margin, then Bank shall notify Borrowers thereof and Bank's obligation to make or maintain any Advance under the Revolving Credit Facility or the Term Loan at the LIBOR Rate plus Applicable Margin shall be suspended until such time as Bank may again cause the LIBOR Rate plus Applicable Margin to be applicable and, until such time, such Advances under the Revolving Credit Facility and the Term Loan shall accrue interest at the Base Rate plus Applicable Margin. Promptly after becoming aware that it is no longer unlawful for Bank to maintain Advances under the Revolving Credit Facility and the Term Loan at the LIBOR Rate plus Applicable Margin, Bank shall notify Borrowers and such suspension shall cease to exist.
Sample 1
LIBOR Unlawful. In the event that, as a result of any changes in applicable law or regulation or the interpretation thereof, it becomes unlawful for any Lender to maintain or fund any Advance at the LIBOR Based Rate and/or the LIBOR Market Index Based Rate, then such Lender shall immediately notify Agent who shall immediately notify Borrower thereof and such Lender's obligation to make, convert to, or maintain any Advance at the LIBOR Based Rate and/or LIBOR Market Index Based Rate shall be suspended until such time as such Lender advises Agent that it may again cause the LIBOR Based Rate and/or the LIBOR Market Index Based Rate to be applicable and, until such time, Advances subject to the LIBOR Based Rate or LIBOR Market Index Based Rate shall accrue interest at the Prime Based Rate. Promptly after becoming aware that it is no longer unlawful for such Lender to maintain or fund Advances at the LIBOR Based Rate or LIBOR Market Index Based Rate, such Lender shall notify Agent who shall notify Borrower thereof and such suspension shall cease to exist.
Sample 1
LIBOR Unlawful. In the event that, as a result of any change in any applicable law or regulation or the interpretation thereof, it becomes unlawful for any Lender to maintain or fund any advance under the Revolving Credit Facility at the LIBOR Rate plus Applicable Margin, then such Lender shall notify Borrower and Agent thereof and such Lender's obligation to make, convert to, or maintain any Advance under the Revolving Credit Facility at the LIBOR Rate plus Applicable Margin shall be suspended until such time as such Lender may again cause the LIBOR Rate plus Applicable Margin to be applicable and, until such time, such Lender's Pro Rata Share of any Advances under the Revolving Credit Facility subject to the LIBOR Rate plus Applicable Margin shall accrue interest at the Base Rate plus Applicable Margin. Promptly after becoming aware that it is no longer unlawful for such Lender to maintain or fund Advances under the Revolving Credit Facility at the LIBOR Rate plus Applicable Margin, such Lender shall notify Borrower and Agent thereof and such suspension shall cease to exist.
Sample 1

Related to LIBOR Unlawful

  • 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.

  • LIBOR Borrower may prepay principal on any portion of this Note which bears interest determined in relation to LIBOR at any time and in the minimum amount of One Hundred Thousand Dollars ($100,000.00); provided however, that if the outstanding principal balance of such portion of this Note is less than said amount, the minimum prepayment amount shall be the entire outstanding principal balance thereof. In consideration of Bank providing this prepayment option to Borrower, or if any such portion of this Note shall become due and payable at any time prior to the last day of the Fixed Rate Term applicable thereto by acceleration or otherwise, Borrower shall pay to Bank immediately upon demand a fee which is the sum of the discounted monthly differences for each month from the month of prepayment through the month in which such Fixed Rate Term matures, calculated as follows for each such month:

  • Eurodollar Rate Each Eurodollar Loan shall bear interest (computed on the basis of a year of 360 days and actual days elapsed) on the unpaid principal amount thereof from the date such Loan is made or created until the last day of the Interest Period applicable thereto or, if earlier, until maturity (whether by acceleration or otherwise) at a rate per annum equal to the sum of the Applicable Margin plus the Adjusted Eurodollar Rate, payable on the last day of each Interest Period applicable thereto and at maturity (whether by acceleration or otherwise) and, with respect to any Eurodollar Loan with an Interest Period in excess of three months, on the date occurring every date which is three months after the date such Loan is made or created; provided that if on the last day of the Interest Period applicable to any Eurodollar Loan the Company does not pay such Loan, such Loan shall automatically become a Domestic Rate Loan as of the day immediately following the last day of the Interest Period applicable thereto.

  • Alternate Rate of Interest; Illegality (a) If prior to the commencement of any Interest Period for a Eurodollar Borrowing:

  • Changes in Law Rendering LIBOR Loans Unlawful If any change in, or the adoption of any new, law or regulation, or any change in the interpretation of any applicable law or regulation by any governmental or other regulatory body charged with the administration thereof, should make it (or in the good faith judgment of any Lender cause a substantial question as to whether it is) unlawful for any Lender to make, maintain or fund LIBOR Loans, then such Lender shall promptly notify each of the other parties hereto and, so long as such circumstances shall continue, (a) such Lender shall have no obligation to make or convert any Base Rate Loan into a LIBOR Loan (but shall make Base Rate Loans concurrently with the making of or conversion of Base Rate Loans into LIBOR Loans by the Lenders which are not so affected, in each case in an amount equal to the amount of LIBOR Loans which would be made or converted into by such Lender at such time in the absence of such circumstances) and (b) on the last day of the current Interest Period for each LIBOR Loan of such Lender (or, in any event, on such earlier date as may be required by the relevant law, regulation or interpretation), such LIBOR Loan shall, unless then repaid in full, automatically convert to a Base Rate Loan. Each Base Rate Loan made by a Lender which, but for the circumstances described in the foregoing sentence, would be a LIBOR Loan (an “Affected Loan”) shall remain outstanding for the period corresponding to the Group of LIBOR Loans of which such Affected Loan would be a part absent such circumstances.

  • LIBOR Rate The election of LIBOR Rates shall be subject to the following terms and requirements:

  • Illegality or Impracticability of Eurodollar Rate Loans In the event that on any date any Lender shall have determined (which determination shall be final and conclusive and binding upon all parties hereto but shall be made only after consultation with Company and Administrative Agent) that the making, maintaining or continuation of its Eurodollar Rate Loans (i) has become unlawful as a result of compliance by such Lender in good faith with any law, treaty, governmental rule, regulation, guideline or order (or would conflict with any such treaty, governmental rule, regulation, guideline or order not having the force of law even though the failure to comply therewith would not be unlawful) or (ii) has become impracticable, or would cause such Lender material hardship, as a result of contingencies occurring after the date of this Agreement which materially and adversely affect the interbank Eurodollar market or the position of such Lender in that market, then, and in any such event, such Lender shall be an "Affected Lender" and it shall on that day give notice (by telefacsimile or by telephone confirmed in writing) to Company and Administrative Agent of such determination (which notice Administrative Agent shall promptly transmit to each other Lender). Thereafter (a) the obligation of the Affected Lender to make Loans as, or to convert Loans to, Eurodollar Rate Loans shall be suspended until such notice shall be withdrawn by the Affected Lender, (b) to the extent such determination by the Affected Lender relates to a Eurodollar Rate Loan then being requested by Company pursuant to a Notice of Borrowing or a Notice of Conversion/Continuation, the Affected Lender shall make such Loan as (or convert such Loan to, as the case may be) a Base Rate Loan, (c) the Affected Lender's obligation to maintain its outstanding Eurodollar Rate Loans (the "Affected Loans") shall be terminated at the earlier to occur of the expiration of the Interest Period then in effect with respect to the Affected Loans or when required by law, and (d) the Affected Loans shall automatically convert into Base Rate Loans on the date of such termination. Notwithstanding the foregoing, to the extent a determination by an Affected Lender as described above relates to a Eurodollar Rate Loan then being requested by Company pursuant to a Notice of Borrowing or a Notice of Conversion/Continuation, Company shall have the option, subject to the provisions of subsection 2.6D, to rescind such Notice of Borrowing or Notice of Conversion/Continuation as to all Lenders by giving notice (by telefacsimile or by telephone confirmed in writing) to Administrative Agent of such rescission on the date on which the Affected Lender gives notice of its determination as described above (which notice of rescission Administrative Agent shall promptly transmit to each other Lender). Except as provided in the immediately preceding sentence, nothing in this subsection 2.6C shall affect the obligation of any Lender other than an Affected Lender to make or maintain Loans as, or to convert Loans to, Eurodollar Rate Loans in accordance with the terms of this Agreement.

  • Reserves on LIBOR Rate Loans The Borrower shall pay to each Lender, as long as such Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional costs on the unpaid principal amount of each LIBOR Rate Loan equal to actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive absent manifest error), payable on each date on which interest is payable on such Loan provided the Borrower shall have received at least fifteen (15) days’ prior written notice (with a copy to Agent) of such additional interest from the Lender. If a Lender fails to give notice fifteen (15) days prior to the relevant Interest Payment Date, such additional interest shall be payable fifteen (15) days from receipt of such notice.

  • Booking of LIBOR Rate Loans Any Lender may make, carry or transfer LIBOR Rate Loans at, to, or for the account of any of its branch offices or the office of an Affiliate of such Lender.

  • Booking of Eurodollar Rate Loans Any Lender may make, carry or transfer Eurodollar Rate Loans at, to, or for the account of any of its branch offices or the office of an Affiliate of such Lender.

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