Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, (a) if, upon receiving a request for a LIBOR Borrowing pursuant to Section 2.4, or a request for a continuation of a LIBOR Borrowing or a request for a conversion of a Floating Rate Borrowing to a LIBOR Borrowing pursuant to Section 2.7, (i) deposits in Dollars for periods comparable to the LIBOR Interest Period elected by the Company are not available to any Lender in the relevant interbank market, or (ii) LIBOR will not adequately and fairly reflect the cost to any Lender of making, funding or maintaining the related LIBOR Loan or (iii) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreement, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, any Lender to make or fund the relevant Loan or to so continue or convert such Loan then the Company shall not be entitled, so long as such circumstances continue, to request such a Borrowing pursuant to Section 2.4 or a continuation of or conversion to such a Borrowing pursuant to Section 2.7 and (b) if the Agent shall have determined that by reason of circumstances affecting the money market, there is no market for Acceptances, then the right of the Borrowing Subsidiary to request Acceptances and the acceptance thereof shall be suspended until the Agent determines that the circumstances causing such suspension no longer exists and the Agent so notifies the Borrowing Subsidiary. In the event that such circumstances no longer exist, the Lenders shall again consider requests for such Borrowings pursuant to Section 2.4, and requests for continuations of and conversions to such Borrowings pursuant to Section 2.7.
Appears in 3 contracts
Samples: Credit Agreement (BMG North America LTD), Credit Agreement (BMG North America LTD), Security Agreement (BMG North America LTD)
Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, (a) if, upon receiving a request for a LIBOR Eurocurrency Rate Borrowing pursuant to Section 2.4, or a request for a continuation of a LIBOR Eurocurrency Rate Borrowing as a Eurocurrency Rate Borrowing, or a request for a conversion of a Floating Rate Borrowing to a LIBOR Eurocurrency Rate Borrowing pursuant to Section 2.7, (ia) in the case of any Eurocurrency Rate Borrowing, deposits in Dollars the relevant Permitted Currency for periods comparable to the LIBOR Interest Period elected by the Company Borrower are not available to any Lender Bank in the relevant interbank marketor secondary market and such Bank has provided to the Agent and the Borrowers a certificate prepared in good faith to that effect, or (iib) LIBOR any Bank reasonably determines that the Eurocurrency Rate will not adequately and fairly reflect the cost to any Lender such Bank of making, funding or maintaining the related LIBOR Eurocurrency Rate Loan and such Bank has provided to the Agent and the Borrowers a certificate prepared in good faith to that effect, or (iiic) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreementtreaty, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender Bank with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, for any Lender Bank (i) to make or fund the relevant Eurocurrency Rate Borrowing or (ii) to continue such Eurocurrency Rate Borrowing as a Eurocurrency Rate Borrowing or (iii) to convert a Loan or to so continue or convert such Loan a Eurocurrency Rate Loan, and such Bank has provided to the Agent and the Borrowers a certificate prepared in good faith to that effect, then the Company Borrowers shall not be entitled, so long as such circumstances continue, to request such a Eurocurrency Rate Borrowing of the affected type pursuant to Section 2.4 or a continuation of or conversion to such a Eurocurrency Rate Borrowing pursuant to Section 2.7 and (b) if the Agent shall have determined that by reason of circumstances affecting the money market, there is no market for Acceptances, then the right of the Borrowing Subsidiary to request Acceptances and the acceptance thereof shall be suspended until the Agent determines that the circumstances causing such suspension no longer exists and the Agent so notifies the Borrowing Subsidiary2.7. In the event that such circumstances no longer exist, the Lenders Banks shall again consider requests honor requests, subject to this Agreement, for such Eurocurrency Rate Borrowings of the affected type pursuant to Section 2.4, and requests for continuations of and conversions to such Eurocurrency Rate Borrowings of the affected type pursuant to Section 2.7.
Appears in 2 contracts
Samples: Loan Agreement (Jabil Circuit Inc), Loan Agreement (Jabil Circuit Inc)
Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, (a) if, upon receiving a request for a LIBOR Eurocurrency Rate Borrowing pursuant to Section 2.4, or a request for a continuation of a LIBOR Eurocurrency Rate Borrowing as a Eurocurrency Rate Borrowing, or a request for a conversion of a Floating Rate Borrowing to a LIBOR Eurocurrency Rate Borrowing pursuant to Section 2.7, (ia) in the case of any Eurocurrency Rate Borrowing, deposits in Dollars for periods comparable to the LIBOR Interest Period elected by the Company Borrower are not available to any Lender Bank in the relevant interbank marketor secondary market and such Bank has provided to the Agent and the Borrowers a certificate prepared in good faith to that effect, or (iib) LIBOR any Bank reasonably determines that the Eurocurrency Rate will not adequately and fairly reflect the cost to any Lender such Bank of making, funding or maintaining the related LIBOR Eurocurrency Rate Loan and such Bank has provided to the Agent and the Borrowers a certificate prepared in good faith to that effect, or (iiic) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreementtreaty, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender Bank with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, for any Lender Bank (i) to make or fund the relevant Eurocurrency Rate Borrowing or (ii) to continue such Eurocurrency Rate Borrowing as a Eurocurrency Rate Borrowing or (iii) to convert a Loan or to so continue or convert such Loan a Eurocurrency Rate Loan, and such Bank has provided to the Agent and the Borrowers a certificate prepared in good faith to that effect, then the Company Borrowers shall not be entitled, so long as such circumstances continue, to request such a Eurocurrency Rate Borrowing of the affected type pursuant to Section 2.4 or a continuation of or conversion to such a Eurocurrency Rate Borrowing pursuant to Section 2.7 and (b) if the Agent shall have determined that by reason of circumstances affecting the money market, there is no market for Acceptances, then the right of the Borrowing Subsidiary to request Acceptances and the acceptance thereof shall be suspended until the Agent determines that the circumstances causing such suspension no longer exists and the Agent so notifies the Borrowing Subsidiary2.7. In the event that such circumstances no longer exist, the Lenders Banks shall again consider requests honor requests, subject to this Agreement, for such Eurocurrency Rate Borrowings of the affected type pursuant to Section 2.4, and requests for continuations of and conversions to such Eurocurrency Rate Borrowings of the affected type pursuant to Section 2.7. Any Bank to which this Section 2.8 may apply from time to time may be removed from the transactions evidenced by the Loan Documents in accordance with Section 3.11.
Appears in 2 contracts
Samples: Day Loan Agreement (Jabil Circuit Inc), Jabil Circuit Inc
Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, (a) the Company may not elect any Eurodollar Rate Loan, including any conversion to a Eurodollar Rate Loan, and shall not be entitled to request any Eurodollar Rate Loan or any conversion to a Eurodollar Rate Loan if, upon receiving a request for a LIBOR Borrowing Eurodollar Rate Loan pursuant to Section 2.4, or a request for a continuation of a LIBOR Borrowing Eurodollar Rate Loan as a Eurodollar Rate Loan of the then existing type, or a request for a conversion of a Floating Rate Borrowing Loan to a LIBOR Borrowing Eurodollar Rate Loan pursuant to Section 2.7, (i) in the case of any Eurodollar Rate Loan, deposits in Dollars for periods comparable to the LIBOR Eurodollar Interest Period elected by the Company are not available to any Lender in the relevant London interbank market, or (ii) LIBOR the Eurodollar Rate will not adequately and fairly reflect the cost to any Lender of making, funding or maintaining the related LIBOR Loan Eurodollar Rate Loan, or (iii) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreement, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation 30 exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, (i) any Lender to make or fund the relevant Loan or to so continue or convert such Loan as a Loan of the then existing type or to convert a Loan to such a Loan or (ii) the Company to make or any Lender to receive any payment under this Agreement at the place specified for payment hereunder or to freely convert any amount paid into Dollars at market rates of exchange or to transfer any amount paid or so converted to the address of its principal office specified in Section 9.2, then the Company shall not be entitled, so long as such circumstances continue, to request such a Borrowing Loan of the affected type pursuant to Section 2.4 or a continuation of or conversion to such a Borrowing Loan of the affected type pursuant to Section 2.7 and (b) if the Agent shall have determined that by reason of circumstances affecting the money market, there is no market for Acceptances, then the right of the Borrowing Subsidiary to request Acceptances and the acceptance thereof shall be suspended until the Agent determines that the circumstances causing such suspension no longer exists and the Agent so notifies the Borrowing Subsidiary2.7. In the event that such circumstances no longer exist, the Lenders Company shall again consider requests for such Borrowings be entitled to request Loans of the affected type pursuant to Section 2.4, and requests for continuations of and conversions to such Borrowings Loans of the affected type pursuant to Section 2.7.
Appears in 2 contracts
Samples: Credit Agreement (MS Acquisition), Credit Agreement (Aetna Industries Inc)
Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, (a) if, upon receiving a request for a LIBOR Eurocurrency Rate Borrowing pursuant to Section 2.42.6, or a request for a continuation of a LIBOR Eurocurrency Rate Borrowing as a Eurocurrency Rate Borrowing of the then existing type, or a request for conversion of a Eurocurrency Rate Borrowing of one type to a Eurocurrency Rate Borrowing of another type, or a request for a conversion of a Floating Rate Borrowing to a LIBOR Eurocurrency Rate Borrowing pursuant to Section 2.72.9, (ia) in the case of any Eurocurrency Rate Borrowing, deposits in Dollars the relevant Permitted Currency for periods comparable to the LIBOR Interest Period elected by the Company Borrower are not available to any Lender Bank in the relevant interbank marketor secondary market and such Bank has provided to the Agent and the Borrowers a certificate prepared in good faith to that effect, or (iib) LIBOR any Bank reasonably determines that the Eurocurrency Base Rate will not adequately and fairly reflect the cost to any Lender such Bank of making, funding or maintaining the related LIBOR Eurocurrency Rate Loan and such Bank has provided to the Agent and the Borrowers a certificate prepared in good faith to that effect, or (iiic) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreementtreaty, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender Bank with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, for any Lender Bank (i) to make or fund the relevant Eurocurrency Rate Borrowing or (ii) to continue such Eurocurrency Rate Borrowing as a Eurocurrency Rate Borrowing of the then existing type or (iii) to convert a Loan or to so continue or convert such Loan a Eurocurrency Rate Loan, and such Bank has provided to the Agent and the Borrowers a certificate prepared in good faith to that effect, then the Company Borrowers shall not be entitled, so long as such circumstances continue, to request such a Eurocurrency Rate Borrowing of the affected type pursuant to Section 2.4 2.6 or a continuation of or conversion to such a Eurocurrency Rate Borrowing of the affected type pursuant to Section 2.7 and (b) if the Agent shall have determined that by reason of circumstances affecting the money market, there is no market for Acceptances, then the right of the Borrowing Subsidiary to request Acceptances and the acceptance thereof shall be suspended until the Agent determines that the circumstances causing such suspension no longer exists and the Agent so notifies the Borrowing Subsidiary2.9. In the event that such circumstances no longer exist, the Lenders Banks shall again consider requests honor requests, subject to this Agreement, for such Eurocurrency Rate Borrowings of the affected type pursuant to Section 2.42.6, and requests for continuations of and conversions to such Eurocurrency Rate Borrowings of the affected type pursuant to Section 2.72.9.
Appears in 2 contracts
Samples: Credit Agreement (Handleman Co /Mi/), Credit Agreement (Handleman Co /Mi/)
Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, (a) if, upon receiving a request for a LIBOR Borrowing pursuant to Section 2.4, or a request for a continuation of a LIBOR Borrowing or a request for a conversion of a Floating Rate Borrowing to a LIBOR Borrowing pursuant to Section 2.7, (i) deposits in Dollars for periods comparable to the LIBOR Interest Period elected by the Company are not available to any Lender in the relevant interbank market, or (ii) LIBOR will not adequately and fairly reflect the cost to any Lender of making, funding or maintaining the related LIBOR Loan or (iii) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreement, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, any Lender to make or fund the relevant Loan or to so continue or convert such Loan then the Company shall not be entitled, so long as such circumstances continue, to request such a Borrowing pursuant to Section 2.4 or a continuation of or conversion to such a Borrowing pursuant to Section 2.7 and (b) if the Agent shall have determined that by reason of circumstances affecting the money market, there is no market for Acceptances, then the right of the Borrowing Subsidiary Subsidiaries to request Acceptances and the acceptance thereof shall be suspended until the Agent determines that the circumstances causing such suspension no longer exists and the Agent so notifies the Borrowing SubsidiarySubsidiaries. In the event that such circumstances no longer exist, the Lenders shall again consider requests for such Borrowings pursuant to Section 2.4, and requests for continuations of and conversions to such Borrowings pursuant to Section 2.7.
Appears in 2 contracts
Samples: Credit Agreement (Oxford Automotive Inc), Credit Agreement (Prudenville Manufacturing Inc)
Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, (a) if, upon receiving a request for a LIBOR Fixed Rate Revolving Credit Borrowing pursuant to Section 2.42.6, or a request for a continuation of a LIBOR Fixed Rate Revolving Credit Borrowing as a Fixed Rate Revolving Credit Borrowing of the then existing type, or a request for a conversion of a Floating Rate Borrowing to a LIBOR Fixed Rate Revolving Credit Borrowing pursuant to Section 2.72.9, (ia) in the case of any Eurocurrency Rate Borrowing, deposits in Dollars the relevant Permitted Currency for periods comparable to the LIBOR Interest Period elected by the Company Borrower are not available to any Lender Bank in the relevant interbank marketor secondary market and such Bank has provided to the Agent and the Borrowers a certificate prepared in good faith to that effect, or (iib) LIBOR any Bank reasonably determines that the applicable interest rate (net of the Applicable Margin for the Eurocurrency Rate) will not adequately and fairly reflect the cost to any Lender such Bank of making, funding or maintaining the related LIBOR Fixed Rate Revolving Credit Loan and such Bank has provided to the Agent and the Borrowers a certificate prepared in good faith to that effect, or (iiic) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreementtreaty, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender Bank with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, for any Lender Bank (i) to make or fund the relevant Fixed Rate Revolving Credit Borrowing or (ii) to continue such Fixed Rate Revolving Credit Borrowing as a Fixed Rate Revolving Credit Borrowing of the then existing type or (iii) to convert a Loan or to so continue or convert such Loan a Fixed Rate Revolving Credit Loan, and such Bank has provided to the Agent and the Borrowers a certificate prepared in good faith to that effect, then the Company Borrowers shall not be entitled, so long as such circumstances continue, to request such a Fixed Rate Revolving Credit Borrowing of the affected type pursuant to Section 2.4 2.6 or a continuation of or conversion to such a Fixed Rate Revolving Credit Borrowing of the affected type pursuant to Section 2.7 and (b) if the Agent shall have determined that by reason of circumstances affecting the money market, there is no market for Acceptances, then the right of the Borrowing Subsidiary to request Acceptances and the acceptance thereof shall be suspended until the Agent determines that the circumstances causing such suspension no longer exists and the Agent so notifies the Borrowing Subsidiary2.9. In the event that such circumstances no longer exist, the Lenders Banks shall again consider requests honor requests, subject to this Agreement, for such Fixed Rate Revolving Credit Borrowings of the affected type pursuant to Section 2.42.6, and requests for continuations of and conversions to such Fixed Rate Revolving Credit Borrowings of the affected type pursuant to Section 2.72.9. Limitations on request for Alternate Currency Loans shall be as set forth in the applicable Alternate Currency Addendum.
Appears in 2 contracts
Samples: Credit Agreement (Invacare Corp), Credit Agreement (Invacare Corp)
Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, (a) if, upon receiving a request for a LIBOR Fixed Rate Borrowing pursuant to Section 2.42.5, or a request for a continuation of a LIBOR Fixed Rate Borrowing as a Fixed Rate Borrowing of the then existing type, or a request for conversion of a Fixed Rate Borrowing of one type to a Fixed Rate Borrowing of another type, or a request for a conversion of a Floating Rate Borrowing to a LIBOR Fixed Rate Borrowing pursuant to Section 2.72.8, (ia) in the case of any Interbank Offered Rate Borrowing, deposits in Dollars for periods comparable to the LIBOR Interest Period elected by the Company Borrower are not available to any Lender Bank in the relevant interbank marketInterbank or secondary market and such Bank has provided to the Agent and the Borrowers a certificate prepared in good faith to that effect, or (iib) LIBOR any Bank reasonably determines that the Interbank Offered Rate will not adequately and fairly reflect the cost to any Lender such Bank of making, funding or maintaining the related LIBOR Interbank Offered Rate Loan and such Bank has provided to the Agent and the Borrowers a certificate prepared in good faith to that effect, or (iiic) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreementtreaty, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender Bank with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, for any Lender Bank (i) to make or fund the relevant Fixed Rate Borrowing or (ii) to continue such Fixed Rate Borrowing as a Fixed Rate Borrowing of the then existing type or (iii) to convert a Loan or to so continue or convert such Loan a Fixed Rate Loan, and such Bank has provided to the Agent and the Borrowers a certificate prepared in good faith to that effect, then the Company Borrowers shall not be entitled, so long as such circumstances continue, to request such a Fixed Rate Borrowing of the affected type pursuant to Section 2.4 2.5 or a continuation of or conversion to such a Fixed Rate Borrowing of the affected type pursuant to Section 2.7 and (b) if the Agent shall have determined that by reason of circumstances affecting the money market, there is no market for Acceptances, then the right of the Borrowing Subsidiary to request Acceptances and the acceptance thereof shall be suspended until the Agent determines that the circumstances causing such suspension no longer exists and the Agent so notifies the Borrowing Subsidiary2.8. In the event that such circumstances no longer exist, the Lenders Banks shall again consider requests honor requests, subject to this Agreement, for such Fixed Rate Borrowings of the affected type pursuant to Section 2.42.5, and requests for continuations of and conversions to such Fixed Rate Borrowings of the affected type pursuant to Section 2.72.8.
Appears in 2 contracts
Samples: Guaranty Agreement (Invacare Corp), Loan Agreement (Invacare Corp)
Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, (a) if, upon receiving a request for a LIBOR Eurodollar Rate Syndicated Borrowing pursuant to Section 2.42.6, or a request for a continuation of a LIBOR Eurodollar Rate Syndicated Borrowing as a Eurodollar Rate Syndicated Borrowing of the then existing type, or a request for conversion of a Eurodollar Rate Syndicated Borrowing of one type to a Eurodollar Rate Syndicated Borrowing of another type, or a request for a conversion of a Floating Rate Borrowing to a LIBOR Eurodollar Rate Syndicated Borrowing pursuant to Section 2.72.9, (ia) in the case of any Eurodollar Rate Syndicated Borrowing, deposits in U.S. Dollars for periods comparable to the LIBOR Interest Period elected by the Company are not available to any Lender in the relevant interbank marketor secondary market and such Lender has provided to the Agent and the Company a certificate prepared in good faith to that effect, or (iib) LIBOR any Lender reasonably determines that the Eurodollar Base Rate will not adequately and fairly reflect the cost to any such Lender of making, funding or maintaining the related LIBOR Eurodollar Rate Syndicated Loan and such Lender has provided to the Agent and the Company a certificate prepared in good faith to that effect, or (iiic) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreementtreaty, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, for any Lender (i) to make or fund the relevant Eurodollar Rate Syndicated Borrowing or (ii) to continue such Eurodollar Rate Syndicated Borrowing as a Eurodollar Rate Syndicated Borrowing of the then existing type or (iii) to convert a Loan to such a Eurodollar Rate Syndicated Loan, and such Lender has provided to the Agent and the Company a certificate prepared in good faith to that effect, then, notwithstanding any other provision herein, (A) the Commitment of such Lender to make or continue Eurodollar Rate Syndicated Borrowings or to so continue convert Floating Rate Loans to Eurodollar Rate Syndicated Loans shall forthwith be canceled until such time as such Lender shall no longer be subject to such circumstances preventing it from making or convert maintaining the affected Loans, and (B) such Lender's Loans then outstanding as Eurodollar Rate Syndicated Loans, if any, shall be converted automatically to Floating Rate Loans on the respective last days of the then current Interest Periods with respect thereto or within such earlier period as may be required by law. If any such conversion of a Eurodollar Rate Syndicated Loan occurs on a day which is not the last day of the then current Interest Period with respect thereto, the Company shall not be entitled, so long as such circumstances continue, to request such a Borrowing pursuant to Section 2.4 or a continuation of or conversion pay to such a Borrowing pursuant to Lender such amounts, if any, as may be required under Section 2.7 and (b) if the Agent shall have determined that by reason of circumstances affecting the money market, there is no market for Acceptances, then the right of the Borrowing Subsidiary to request Acceptances and the acceptance thereof shall be suspended until the Agent determines that the circumstances causing such suspension no longer exists and the Agent so notifies the Borrowing Subsidiary. In the event that such circumstances no longer exist, the Lenders shall again consider requests for such Borrowings pursuant to Section 2.4, and requests for continuations of and conversions to such Borrowings pursuant to Section 2.73.9.
Appears in 2 contracts
Samples: Guaranty Agreement (Universal Forest Products Inc), Credit Agreement (Universal Forest Products Inc)
Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, (a) if, upon receiving a request for a LIBOR Eurocurrency Rate Borrowing pursuant to Section 2.4, or a request for a continuation of a LIBOR Eurocurrency Rate Borrowing as a Eurocurrency Rate Borrowing, or a request for a conversion of a Floating Rate Borrowing to a LIBOR Eurocurrency Rate Borrowing pursuant to Section 2.7, or a request for a Borrowing in an Eligible Currency (ia) in the case of any Eurocurrency Rate Borrowing, deposits in Dollars for periods comparable to the LIBOR Interest Period elected by the Company a Borrower are not available to any Lender Bank in the relevant interbank marketor secondary market and such Bank has provided to the Agent and the Borrowers a certificate prepared in good faith to that effect, or (iib) LIBOR any Bank reasonably determines that the Eurocurrency Rate will not adequately and fairly reflect the cost to any Lender such Bank of making, funding or maintaining the related LIBOR Eurocurrency Rate Loan and such Bank has provided to the Agent and the Borrowers a certificate prepared in good faith to that effect, or (iiic) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreementtreaty, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender Bank with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, for any Lender Bank (i) to make or fund the relevant Eurocurrency Rate Borrowing or (ii) to continue such Eurocurrency Rate Borrowing as a Eurocurrency Rate Borrowing or (iii) to convert a Loan to such a Eurocurrency Rate Loan or (iv) to so continue or convert make an Advance in the requested Eligible Currency, and such Loan Bank has provided to the Agent and the Borrowers a certificate prepared in good faith to that effect, then the Company Borrowers shall not be entitled, so long as such circumstances continue, to request such a Eurocurrency Rate Borrowing of the affected type pursuant to Section 2.4 or a continuation of or conversion to such a Eurocurrency Rate Borrowing pursuant to Section 2.7 and (b) if or a Borrowing in the Agent shall have determined that by reason of circumstances affecting the money market, there is no market for Acceptances, then the right of the Borrowing Subsidiary to request Acceptances and the acceptance thereof shall be suspended until the Agent determines that the circumstances causing such suspension no longer exists and the Agent so notifies the Borrowing Subsidiaryrequested Eligible Currency. In the event that such circumstances no longer exist, the Lenders Banks shall again consider requests honor requests, subject to this Agreement, for such Eurocurrency Rate Borrowings of the affected type pursuant to Section 2.4, and requests for continuations of and conversions to such Eurocurrency Rate Borrowings of the affected type pursuant to Section 2.7. Any Bank to which this Section 2.8 may apply from time to time may be removed from the transactions evidenced by the Loan Documents in accordance with Section 3.11.
Appears in 1 contract
Samples: Jabil Circuit Inc
Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, (a) if, upon receiving a request for a LIBOR Borrowing pursuant to Section 2.4, or a request for a continuation of a LIBOR Borrowing Borrowing, or a request for a conversion of a Floating an Adjusted Corporate Base Rate Borrowing to a LIBOR Borrowing pursuant to Section 2.7, (ia) in the case of any LIBOR Borrowing, deposits in Dollars for periods comparable to the LIBOR Interest Period elected by the Company are not available to any Lender in the relevant interbank market, or (iib) LIBOR the applicable interest rate will not adequately and fairly reflect the cost to any Lender of making, funding or maintaining the related LIBOR Loan Borrowing or (iiic) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreementtreaty, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender with any guideline, request - 40 - or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, for any Lender (i) to make or fund the relevant Loan LIBOR Borrowing or (ii) to so continue such LIBOR Borrowing or (iii) to convert a Borrowing to such Loan a LIBOR Borrowing, then the Company shall not be entitled, so long as such circumstances continue, to request such a LIBOR Borrowing pursuant to Section 2.4 or a continuation of or conversion to such a LIBOR Borrowing pursuant to Section 2.7 and (b) if the Agent shall have determined that by reason of circumstances affecting the money market, there is no market for Acceptances, then the right of the Borrowing Subsidiary to request Acceptances and the acceptance thereof shall be suspended until the Agent determines that the circumstances causing such suspension no longer exists and the Agent so notifies the Borrowing Subsidiary2.7. In the event that such circumstances no longer exist, the Lenders shall again consider requests for such again, subject to the terms and conditions hereof, provide LIBOR Borrowings pursuant to Section 2.4, and requests for continuations of and conversions to such LIBOR Borrowings of the affected type pursuant to Section 2.7.
Appears in 1 contract
Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, (a) if, upon receiving a request for a LIBOR Borrowing pursuant to Section 2.4, or a request for a continuation of a LIBOR Borrowing or a request for a conversion of a Floating Rate Borrowing to a LIBOR Borrowing pursuant to Section 2.7, (i) deposits in Dollars for periods comparable to the LIBOR Interest Period elected by the Company are not available to any Lender in the relevant interbank market, or (ii) LIBOR will not adequately and fairly reflect the cost to any Lender of making, funding or maintaining the related LIBOR Loan or (iii) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreement, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, any Lender to make or fund the relevant Loan or to 36 42 so continue or convert such Loan then the Company shall not be entitled, so long as such circumstances continue, to request such a Borrowing pursuant to Section 2.4 or a continuation of or conversion to such a Borrowing pursuant to Section 2.7 and (b) if the Agent shall have determined that by reason of circumstances affecting the money market, there is no market for Acceptances, then the right of the Borrowing Subsidiary Subsidiaries to request Acceptances and the acceptance thereof shall be suspended until the Agent determines that the circumstances causing such suspension no longer exists and the Agent so notifies the Borrowing SubsidiarySubsidiaries. In the event that such circumstances no longer exist, the Lenders shall again consider requests for such Borrowings pursuant to Section 2.4, and requests for continuations of and conversions to such Borrowings pursuant to Section 2.7.
Appears in 1 contract
Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, (a) if, upon receiving a request for a LIBOR Fixed Rate Borrowing pursuant to Section 2.4, or a request for a continuation of a LIBOR Fixed Rate Borrowing or a request for a conversion of a Floating Rate Borrowing to a LIBOR Fixed Rate Borrowing pursuant to Section 2.7, (ia) in the case of any Eurocurrency Rate Borrowing, deposits in Dollars the relevant Permitted Currency for periods comparable to the LIBOR Interest Period elected by the Company Borrower are not available to any Lender Bank in the relevant interbank marketor secondary market and such Bank has provided to the Agent and the Borrower a certificate prepared in good faith to that effect, or (iib) LIBOR any Bank reasonably determines that the applicable interest rate (net of the Applicable Margin for the Eurocurrency Rate) will not adequately and fairly reflect the cost to any Lender such Bank of making, funding or maintaining the related LIBOR Fixed Rate Loan and such Bank has provided to the Agent and the Borrower a certificate prepared in good faith to that effect, or (iiic) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreementtreaty, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender Bank with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, for any Lender Bank (i) to make or fund the relevant Loan Fixed Rate Borrowing or (ii) to so continue or convert such Loan Fixed Rate Borrowing and such Bank has provided to the Agent and the Borrower a certificate prepared in good faith to that effect, then the Company Borrower shall not be entitled, so long as such circumstances continue, to request such a Fixed Rate Borrowing pursuant to Section 2.4 or a continuation of or conversion to such a Fixed Rate Borrowing of the affected type pursuant to Section 2.7 and (b) if the Agent shall have determined that by reason of circumstances affecting the money market, there is no market for Acceptances, then the right of the Borrowing Subsidiary to request Acceptances and the acceptance thereof shall be suspended until the Agent determines that the circumstances causing such suspension no longer exists and the Agent so notifies the Borrowing Subsidiary2.7. In the event that such circumstances no longer exist, the Lenders Banks shall again consider requests honor requests, subject to this Agreement, for such Fixed Rate Borrowings pursuant to Section 2.4, and requests for continuations of and conversions to such Fixed Rate Borrowings pursuant to Section 2.7.
Appears in 1 contract
Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, (a) if, upon receiving a request for a LIBOR Fixed Rate Revolving Credit Borrowing pursuant to Section 2.4, or a request for a continuation of a LIBOR Fixed Rate Revolving Credit Borrowing or a request for a conversion of a Floating Rate Borrowing to a LIBOR Fixed Rate Revolving Credit Borrowing pursuant to Section 2.7, (ia) in the case of any Eurocurrency Rate Borrowing, deposits in Dollars the relevant Permitted Currency for periods comparable to the LIBOR Interest Period elected by the Company Borrower are not available to any Lender Bank in the relevant interbank marketor secondary market and such Bank has provided to the Agent and the Borrowers a certificate prepared in good faith to that effect, or (iib) LIBOR any Bank reasonably determines that the applicable interest rate (net of the Applicable Margin for the Eurocurrency Rate) will not adequately and fairly reflect the cost to any Lender such Bank of making, funding or maintaining the related LIBOR Fixed Rate Loan and such Bank has provided to the Agent and the Borrowers a certificate prepared in good faith to that effect, or (iiic) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreementtreaty, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender Bank with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, for any Lender Bank (i) to make or fund the relevant Loan Fixed Rate Revolving Credit Borrowing or (ii) to so continue or convert such Loan Fixed Rate Revolving Credit Borrowing and such Bank has provided to the Agent and the Borrowers a certificate prepared in good faith to that effect, then the Company Borrowers shall not be entitled, so long as such circumstances continue, to request such a Fixed Rate Revolving Credit Borrowing pursuant to Section 2.4 or a continuation of or conversion to such a Fixed Rate Revolving Credit Borrowing of the affected type pursuant to Section 2.7 and (b) if the Agent shall have determined that by reason of circumstances affecting the money market, there is no market for Acceptances, then the right of the Borrowing Subsidiary to request Acceptances and the acceptance thereof shall be suspended until the Agent determines that the circumstances causing such suspension no longer exists and the Agent so notifies the Borrowing Subsidiary2.7. In the event that such circumstances no longer exist, the Lenders Banks shall again consider requests honor requests, subject to this Agreement, for such Fixed Rate Revolving Credit Borrowings pursuant to Section 2.4, and requests for continuations of and conversions to such Fixed Rate Revolving Credit Borrowings pursuant to Section 2.7.
Appears in 1 contract
Samples: Credit Agreement (Invacare Corp)
Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, (a) if, upon receiving a request for a LIBOR Borrowing pursuant to Section 2.4, or a request for a continuation of a LIBOR Borrowing Borrowing, or a request for a conversion of a Floating an Adjusted Corporate Base Rate Borrowing to a LIBOR Borrowing pursuant to Section 2.7, (ia) in the case of any LIBOR Borrowing, deposits in Dollars for periods comparable to the LIBOR Interest Period elected by the Company are not available to any Lender in the relevant interbank market, or (iib) LIBOR the applicable interest rate will not adequately and fairly reflect the cost to any Lender of making, funding or maintaining the related LIBOR Loan Borrowing or (iiic) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreementtreaty, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender with any guideline, request -40- or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, for any Lender (i) to make or fund the relevant Loan LIBOR Borrowing or (ii) to so continue such LIBOR Borrowing or (iii) to convert a Borrowing to such Loan a LIBOR Borrowing, then the Company shall not be entitled, so long as such circumstances continue, to request such a LIBOR Borrowing pursuant to Section 2.4 or a continuation of or conversion to such a LIBOR Borrowing pursuant to Section 2.7 and (b) if the Agent shall have determined that by reason of circumstances affecting the money market, there is no market for Acceptances, then the right of the Borrowing Subsidiary to request Acceptances and the acceptance thereof shall be suspended until the Agent determines that the circumstances causing such suspension no longer exists and the Agent so notifies the Borrowing Subsidiary2.7. In the event that such circumstances no longer exist, the Lenders shall again consider requests for such again, subject to the terms and conditions hereof, provide LIBOR Borrowings pursuant to Section 2.4, and requests for continuations of and conversions to such LIBOR Borrowings of the affected type pursuant to Section 2.7.
Appears in 1 contract
Samples: Credit Agreement (Ap Holdings Inc)
Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, (a) if, upon receiving a request for a LIBOR Eurodollar Rate Syndicated Borrowing pursuant to Section 2.42.6, or a request for a continuation of a LIBOR Eurodollar Rate Syndicated Borrowing as a Eurodollar Rate Syndicated Borrowing of the then existing type, or a request for conversion of a Eurodollar Rate Syndicated Borrowing of one type to a Eurodollar Rate Syndicated Borrowing of another type, or a request for a conversion of a Floating Rate Borrowing to a LIBOR Eurodollar Rate Syndicated Borrowing pursuant to Section 2.72.9, (ia) in the case of any Eurodollar Rate Syndicated Borrowing, deposits in Dollars for periods comparable to the LIBOR Interest Period elected by the Company are not available to any Lender in the relevant interbank marketor secondary market and such Lender has provided to the Agent and the Company a certificate prepared in good faith to that effect, or (iib) LIBOR any Lender reasonably determines that the Eurodollar Base Rate will not adequately and fairly reflect the cost to any such Lender of making, funding or maintaining the related LIBOR Eurodollar Rate Syndicated Loan and such Lender has provided to the Agent and the Company a certificate prepared in good faith to that effect, or (iiic) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreementtreaty, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, for any Lender (i) to make or fund the relevant Eurodollar Rate Syndicated Borrowing or (ii) to continue such Eurodollar Rate Syndicated Borrowing as a Eurodollar Rate Syndicated Borrowing of the then existing type or (iii) to convert a Loan to such a Eurodollar Rate Syndicated Loan, and such Lender has provided to the Agent and the Company a certificate prepared in good faith to that effect, then, notwithstanding any other provision herein, (A) the Commitment of such Lender to make or continue Eurodollar Rate Syndicated Borrowings or to so continue convert Floating Rate Loans to Eurodollar Rate Syndicated Loans shall forthwith be canceled until such time as such Lender shall no longer be subject to such circumstances preventing it from making or convert maintaining the affected Loans, and (B) such Lender's Loans then outstanding as Eurodollar Rate Syndicated Loans, if any, shall be converted automatically to Floating Rate Loans on the respective last days of the then current Interest Periods with respect thereto or within such earlier period as may be required by law. If any such conversion of a Eurodollar Rate Syndicated Loan occurs on a day which is not the last day of the then current Interest Period with respect thereto, the Company shall not be entitled, so long as such circumstances continue, to request such a Borrowing pursuant to Section 2.4 or a continuation of or conversion pay to such a Borrowing pursuant to Lender such amounts, if any, as may be required under Section 2.7 and (b) if the Agent shall have determined that by reason of circumstances affecting the money market, there is no market for Acceptances, then the right of the Borrowing Subsidiary to request Acceptances and the acceptance thereof shall be suspended until the Agent determines that the circumstances causing such suspension no longer exists and the Agent so notifies the Borrowing Subsidiary. In the event that such circumstances no longer exist, the Lenders shall again consider requests for such Borrowings pursuant to Section 2.4, and requests for continuations of and conversions to such Borrowings pursuant to Section 2.73.9.
Appears in 1 contract
Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, (a) if, upon receiving a request for a LIBOR Eurodollar Rate Borrowing pursuant to Section 2.4, or a request for a continuation of a LIBOR Eurodollar Rate Borrowing as a Eurodollar Rate Borrowing, or a request for a conversion of a Floating Rate Borrowing to a LIBOR Eurodollar Rate Borrowing pursuant to Section 2.7, (ia) in the case of any Eurodollar Rate Borrowing, deposits in Dollars for periods comparable to the LIBOR Eurodollar Interest Period elected by the Company Borrower are not available to any Lender in the relevant interbank secondary market, or (iib) LIBOR the Eurodollar Rate, will not adequately and fairly reflect the cost to any Lender of making, funding or maintaining the related LIBOR Loan Eurodollar Rate Loan, or (iiic) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreementtreaty, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, for any Lender (i) to make or fund the relevant Eurodollar Rate Borrowing, or (ii) to continue such Eurodollar Rate Borrowing as a Eurodollar Rate Loan, or (iii) to convert a Loan or to so continue or convert such Loan a Eurodollar Rate Loan, then the Company Borrower shall not be entitled, so long as such circumstances continue, to request such a Eurodollar Rate Borrowing pursuant to Section 2.4 or a continuation of or conversion to such a Eurodollar Rate Borrowing of the affected type pursuant to Section 2.7 and (b) if the Agent shall have determined that by reason of circumstances affecting the money market, there is no market for Acceptances, then the right of the Borrowing Subsidiary to request Acceptances and the acceptance thereof shall be suspended until the Agent determines that the circumstances causing such suspension no longer exists and the Agent so notifies the Borrowing Subsidiary2.7. In the event that such circumstances no longer exist, the Lenders shall again consider requests for such Eurodollar Rate Borrowings of the affected type pursuant to Section 2.4, and requests for continuations of and conversions to such Eurodollar Rate Borrowings of the affected type pursuant to Section 2.7.
Appears in 1 contract
Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, (a) if, upon receiving a request for a LIBOR Borrowing pursuant to Section 2.4, or a request for a continuation of a LIBOR Borrowing Borrowing, or a request for a conversion of a Floating an Adjusted Corporate Base Rate Borrowing to a LIBOR Borrowing pursuant to Section 2.7, (ia) in the case of any LIBOR Borrowing, deposits in Dollars for periods comparable to the LIBOR Interest Period elected by the Company are not available to any Lender in the relevant interbank or market, or (iib) LIBOR applicable interest rate will not adequately and fairly reflect the cost to any Lender of making, funding or maintaining the related LIBOR Loan Borrowing or (iiic) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreementtreaty, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, for any Lender (i) to make or fund the relevant Loan LIBOR Borrowing or (ii) to so continue such LIBOR Borrowing or (iii) to convert a Borrowing to such Loan a LIBOR Borrowing, then the Company shall not be entitled, so long as such circumstances continue, to request such a LIBOR Borrowing pursuant to Section 2.4 or a continuation of or conversion to such a LIBOR Borrowing pursuant to Section 2.7 and (b) if the Agent shall have determined that by reason of circumstances affecting the money market, there is no market for Acceptances, then the right of the Borrowing Subsidiary to request Acceptances and the acceptance thereof shall be suspended until the Agent determines that the circumstances causing such suspension no longer exists and the Agent so notifies the Borrowing Subsidiary2.7. In the event that such circumstances no longer exist, the Lenders shall again consider requests for such again, subject to the terms and conditions hereof, provide LIBOR Borrowings pursuant to Section 2.4, and requests for continuations of and conversions to such LIBOR Borrowings of the affected type pursuant to Section 2.7.
Appears in 1 contract
Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, (a) if, upon receiving a request for a LIBOR Eurocurrency Rate Borrowing pursuant to Section 2.4, or a request for a continuation of a LIBOR Eurocurrency Rate Borrowing as a Eurocurrency Rate Borrowing, or a request for a conversion of a Floating Rate Borrowing to a LIBOR Eurocurrency Rate Borrowing pursuant to Section 2.7, (ia) in the case of any Eurocurrency Rate Borrowing, deposits in Dollars for periods comparable to the LIBOR Interest Period elected by the Company Borrower are not available to any Lender Bank in the relevant interbank marketor secondary market and such Bank has provided to the Agent and the Borrowers a certificate prepared in good faith to that effect, or (iib) LIBOR any Bank reasonably determines that the Eurocurrency Rate will not adequately and fairly reflect the cost to any Lender such Bank of making, funding or maintaining the related LIBOR Eurocurrency Rate Loan and such Bank has provided to the Agent and the Borrowers a certificate prepared in good faith to that effect, or (iiic) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreementtreaty, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender Bank with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, for any Lender Bank (i) to make or fund the relevant Eurocurrency Rate Borrowing or (ii) to continue such Eurocurrency Rate Borrowing as a Eurocurrency Rate Borrowing or (iii) to convert a Loan or to so continue or convert such Loan a Eurocurrency Rate Loan, and such Bank has provided to the Agent and the Borrowers a certificate prepared in good faith to that effect, then the Company Borrowers shall not be entitled, so long as such circumstances continue, to request such a Eurocurrency Rate Borrowing of the affected type pursuant to Section 2.4 or a continuation of or conversion to such a Eurocurrency Rate Borrowing pursuant to Section 2.7 and (b) if the Agent shall have determined that by reason of circumstances affecting the money market, there is no market for Acceptances, then the right of the Borrowing Subsidiary to request Acceptances and the acceptance thereof shall be suspended until the Agent determines that the circumstances causing such suspension no longer exists and the Agent so notifies the Borrowing Subsidiary2.7. In the event that such circumstances no longer exist, the Lenders Banks shall again consider requests honor requests, subject to this Agreement, for such Eurocurrency Rate Borrowings of the affected type pursuant to Section 2.4, and requests for continuations of and conversions to such Eurocurrency Rate Borrowings of the affected type pursuant to Section 2.7.
Appears in 1 contract
Samples: Loan Agreement (Jabil Circuit Inc)
Limitation of Requests and Elections. Notwithstanding any other ------------------------------------ provision of this Agreement to the contrary, (a) if, upon receiving a request for a LIBOR Borrowing Rate Loan pursuant to Section 2.43.1, or a request for a continuation of a LIBOR Borrowing Rate Loan as a LIBOR Rate Loan of the then existing type, or a request for a conversion of a Floating Alternate Base Rate Borrowing Loan to a LIBOR Borrowing Rate Loan pursuant to Section 2.73.4, (ia) in the case of any LIBOR Rate Loan, deposits in Dollars for periods comparable to the LIBOR Interest Period elected by the Company are not available to any Lender the Bank in the relevant London interbank market, or (iib) the LIBOR Rate will not adequately and fairly reflect the cost to any Lender the Bank of making, funding or maintaining the related LIBOR Loan Rate Loan, or (iiic) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreement, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender the Bank with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, any Lender (i) the Bank to make or fund the relevant Loan or to so continue or convert such Loan as a Loan of the then existing type or to convert a Loan to such a Loan or (ii) the Company to make or the Bank to receive any payment under this Agreement at the place specified for payment hereunder or to freely convert any amount paid into Dollars at market rates of exchange or to transfer any amount paid or so converted to the address of its principal office specified in Section 10.2, then the Company shall not be entitled, so long as such circumstances continue, to request such a Borrowing Loan of the affected type pursuant to Section 2.4 3.1 or a continuation of or conversion to such a Borrowing Loan of the affected type pursuant to Section 2.7 and (b) if the Agent shall have determined that by reason of circumstances affecting the money market, there is no market for Acceptances, then the right of the Borrowing Subsidiary to request Acceptances and the acceptance thereof shall be suspended until the Agent determines that the circumstances causing such suspension no longer exists and the Agent so notifies the Borrowing Subsidiary3.4. In the event that such circumstances no longer exist, the Lenders Bank shall again consider requests for such Borrowings Loans of the affected type pursuant to Section 2.43.1, and requests for continuations of and conversions to such Borrowings Loans of the affected type pursuant to Section 2.73.4.
Appears in 1 contract
Samples: Execution Copy Credit Agreement (Petroleum Development Corp)
Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, (a) if, upon receiving a request for a LIBOR Eurodollar Rate Borrowing -28- 106 pursuant to Section 2.42.5, or a request for a continuation of a LIBOR Eurodollar Rate Borrowing as a Eurodollar Rate Borrowing, or a request for a conversion of a Floating Rate Borrowing to a LIBOR Eurodollar Rate Borrowing pursuant to Section 2.72.8, (ia) in the case of any Eurodollar Rate Borrowing, deposits in Dollars for periods comparable to the LIBOR Eurodollar Interest Period elected by the Company Borrower are not available to any Lender in the relevant interbank secondary market, or (iib) LIBOR the Eurodollar Rate, will not adequately and fairly reflect the cost to any Lender of making, funding or maintaining the related LIBOR Loan Eurodollar Rate Loan, or (iiic) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreementtreaty, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, for any Lender (i) to make or fund the relevant Eurodollar Rate Borrowing, or (ii) to continue such Eurodollar Rate Borrowing as a Eurodollar Rate Loan, or (iii) to convert a Loan or to so continue or convert such Loan a Eurodollar Rate Loan, then the Company Borrower shall not be entitled, so long as such circumstances continue, to request such a Eurodollar Rate Borrowing pursuant to Section 2.4 2.5 or a continuation of or conversion to such a Eurodollar Rate Borrowing of the affected type pursuant to Section 2.7 and (b) if the Agent shall have determined that by reason of circumstances affecting the money market, there is no market for Acceptances, then the right of the Borrowing Subsidiary to request Acceptances and the acceptance thereof shall be suspended until the Agent determines that the circumstances causing such suspension no longer exists and the Agent so notifies the Borrowing Subsidiary2.8. In the event that such circumstances no longer exist, the Lenders shall again consider requests for such Eurodollar Rate Borrowings of the affected type pursuant to Section 2.42.5, and requests for continuations of and conversions to such Eurodollar Rate Borrowings of the affected type pursuant to Section 2.72.8.
Appears in 1 contract
Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, (a) if, upon receiving a request for a LIBOR Borrowing pursuant to Section 2.4, or a request for a continuation of a LIBOR Borrowing Borrowing, or a request for a conversion of a Floating an Adjusted Prime Rate Borrowing to a LIBOR Borrowing pursuant to Section 2.7, (ia) in the case of any LIBOR Borrowing, deposits in Dollars for periods comparable to the LIBOR Interest Period elected by the Company are not available to any Lender in the relevant interbank or market, or (iib) LIBOR applicable interest rate will not adequately and fairly reflect the cost to any Lender of making, funding or maintaining the related LIBOR Loan Borrowing or (iiic) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreementtreaty, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, for any Lender (i) to make or fund the relevant Loan LIBOR Borrowing or (ii) to so continue such LIBOR Borrowing or (iii) to convert a Borrowing to such Loan a LIBOR Borrowing, then the Company shall not be entitled, so long as such circumstances continue, to request such a LIBOR Borrowing pursuant to Section 2.4 or a continuation of or conversion to such a LIBOR Borrowing pursuant to Section 2.7 and (b) if the Agent shall have determined that by reason of circumstances affecting the money market, there is no market for Acceptances, then the right of the Borrowing Subsidiary to request Acceptances and the acceptance thereof shall be suspended until the Agent determines that the circumstances causing such suspension no longer exists and the Agent so notifies the Borrowing Subsidiary2.7. In the event that such circumstances no longer exist, the Lenders shall again consider requests for such LIBOR Borrowings pursuant to Section 2.4, and requests for continuations of and conversions to such LIBOR Borrowings of the affected type pursuant to Section 2.7.
Appears in 1 contract
Samples: Credit Agreement (Key Plastics Inc)
Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, (a) if, upon receiving a request for a LIBOR Borrowing pursuant to Section 2.4, or a request for a continuation of a LIBOR Borrowing Borrowing, or a request for a conversion of a Floating an Adjusted Prime Rate Borrowing to a LIBOR Borrowing pursuant to Section 2.7, (ia) in the case of any LIBOR Borrowing, deposits in Dollars or the requested Permitted Currency for periods comparable to the LIBOR Interest Period elected by the Company are not available to any Lender in the relevant interbank or market, or (iib) LIBOR the applicable interest rate will not adequately and fairly reflect the cost to any Lender of making, funding or maintaining the related LIBOR Loan Borrowing or (iiic) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreementtreaty, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, for any Lender (i) to make or fund the relevant Loan LIBOR Borrowing or (ii) to so continue such LIBOR Borrowing or (iii) to convert a Borrowing to such Loan a LIBOR Borrowing, then the Company shall not be entitled, so long as such circumstances continue, to request such a LIBOR Borrowing pursuant to Section 2.4 or a continuation of or conversion to such a LIBOR Borrowing pursuant to Section 2.7 and (b) if the Agent shall have determined that by reason of circumstances affecting the money market, there is no market for Acceptances, then the right of the Borrowing Subsidiary to request Acceptances and the acceptance thereof Term Loans shall be suspended until the Agent determines that the circumstances causing such suspension no longer exists and the Agent so notifies the Borrowing Subsidiaryconverted to Adjusted Prime Rate Borrowings. In the event that such circumstances no longer exist, the Lenders shall again consider requests for such LIBOR Borrowings pursuant to Section 2.4, and requests for continuations of and conversions to such LIBOR Borrowings of the affected type pursuant to Section 2.72.7 and the Term Loans shall convert back to LIBOR Borrowings.
Appears in 1 contract
Samples: Guaranty Agreement (Iae Inc)
Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, (a) if, upon receiving a request for a LIBOR Borrowing pursuant to Section 2.4, or a request for a continuation of a LIBOR Borrowing Borrowing, or a request for a conversion of a Floating an Adjusted Corporate Base Rate Borrowing to a LIBOR Borrowing pursuant to Section 2.7, (ia) in the case of any LIBOR Borrowing, deposits in Dollars for periods comparable to the LIBOR Interest Period elected by the Company are not available to any Lender in the relevant interbank market, or (iib) LIBOR the applicable interest rate will not adequately and fairly reflect the cost to any Lender of making, funding or maintaining the related LIBOR Loan Borrowing or (iiic) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreementtreaty, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, for any Lender (i) to make or fund the relevant Loan LIBOR Borrowing or (ii) to so continue such LIBOR Borrowing or (iii) to convert a Borrowing to such Loan a LIBOR Borrowing, then the Company shall not be entitled, so long as such circumstances continue, to request such a LIBOR Borrowing pursuant to Section 2.4 or a continuation of or conversion to such a LIBOR Borrowing pursuant to Section 2.7 and (b) if the Agent shall have determined that by reason of circumstances affecting the money market, there is no market for Acceptances, then the right of the Borrowing Subsidiary to request Acceptances and the acceptance thereof shall be suspended until the Agent determines that the circumstances causing such suspension no longer exists and the Agent so notifies the Borrowing Subsidiary2.7. In the event that such circumstances no longer exist, the Lenders shall again consider requests for such again, subject to the terms and conditions hereof, provide LIBOR Borrowings pursuant to Section 2.4, and requests for continuations of and conversions to such LIBOR Borrowings of the affected type pursuant to Section 2.7.
Appears in 1 contract