Limitation on Types of Loans; Illegality. Anything herein to the contrary notwithstanding, if: (a) Lender determines, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or (b) Lender determines, which determination shall be conclusive, that the relevant rate of interest referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof upon the basis of which the rate of interest for Loans is to be determined is not likely adequate to cover the cost to Lender of making or maintaining Loans; or (c) Lender determines, which determination shall be conclusive, that it is or will be unlawful for Lender to honor its obligation to make or maintain Loans hereunder using a Eurodollar Rate as a result of compliance by 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); then Lender shall give Borrower prompt notice thereof and, so long as such condition remains in effect, Lender shall be under no obligation to make additional Loans, and Borrower shall, either prepay all such Loans as may be outstanding or pay interest on such Loans at a rate per annum equal to the Eurodollar Substitute Rate.
Appears in 4 contracts
Samples: CMBS Loan Agreement (Capital Trust Inc), Master Loan and Security Agreement (Capital Trust Inc), Master Loan and Security Agreement (Capital Trust)
Limitation on Types of Loans; Illegality. Anything herein to the contrary notwithstanding, if, on or prior to the determination of any Eurodollar Rate:
(a) the Lender determines, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or
(b) the Lender determines, which determination shall be conclusive, that the relevant rate of interest referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof upon the basis of which the rate of interest for Loans is to be determined is not likely adequate adequately to cover the cost to the Lender of making or maintaining Loans; or
(c) Lender determines, which determination shall be conclusive, that it is or will be becomes unlawful for the Lender to honor its obligation to make or maintain Loans hereunder using a Eurodollar Rate as a result of compliance by 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)Rate; then the Lender shall give Borrower the Borrowers prompt notice thereof and, so long as such condition remains in effect, the Lender shall be under no obligation to make additional Loans, and Borrower the Borrowers shall, either prepay all such Loans as may be outstanding or pay interest on such Loans at a rate per annum equal to the Eurodollar Substitute RateFederal Funds Rate plus 0.50% plus the Applicable Margin.
Appears in 3 contracts
Samples: Master Loan and Security Agreement (American Home Mortgage Holdings Inc), Master Loan and Security Agreement (American Business Financial Services Inc /De/), Loan and Security Agreement (American Home Mortgage Holdings Inc)
Limitation on Types of Loans; Illegality. Anything herein to the ---------------------------------------- contrary notwithstanding, if, on or prior to the determination of any Eurodollar Base Rate:
(a) the Lender determines, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or
(b) the Lender determines, which determination shall be conclusive, that the relevant rate of interest referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof upon the basis of which the rate of interest for Loans is to be determined is not likely adequate adequately to cover the cost to the Lender of making or maintaining Loans; or
(c) Lender determines, which determination shall be conclusive, that it is or will be becomes unlawful for the Lender to honor its obligation to make or maintain Loans hereunder using a Eurodollar Rate as a result of compliance by 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)Rate; then the Lender shall give the Borrower prompt notice thereof and, so long as such condition remains in effect, the Lender shall be under no obligation to make additional Loans, and the Borrower shall, either prepay all such Loans as may be outstanding or pay interest on such Loans at a rate per annum equal to the Eurodollar Substitute RateFederal Funds Rate plus 1%.
Appears in 2 contracts
Samples: Loan Agreement (Southern Pacific Funding Corp), Loan Agreement (Southern Pacific Funding Corp)
Limitation on Types of Loans; Illegality. Anything herein to the contrary notwithstanding, if, on or prior to the determination of any Eurodollar Rate:
(a) the Lender determinesdetermines in good faith, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of "“Eurodollar Base Rate" ” in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or
(b) the Lender determines, which determination shall be conclusive, that the relevant rate of interest referred to in the definition of "“Eurodollar Base Rate" ” in Section 1.01 hereof upon the basis of which the rate of interest for Loans is to be determined is not likely adequate adequately to cover the cost to the Lender of making or maintaining Loans; or
(c) Lender determines, which determination shall be conclusive, that it is or will be becomes unlawful for the Lender to honor its obligation to make or maintain Loans hereunder using a Eurodollar Rate as a result of compliance by 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)Rate; then the Lender shall give Borrower the Borrowers prompt notice thereof and, so long as such condition remains in effect, the Lender shall be under no obligation to make additional Loans, and Borrower the Borrowers shall, either prepay all such Loans as may be outstanding or pay interest on such Loans at a rate per annum equal to the Eurodollar Substitute RateFederal Funds Rate plus 0.50% plus the Applicable Margin.
Appears in 2 contracts
Samples: Master Loan and Security Agreement (Aames Financial Corp/De), Loan Agreement (Aames Investment Corp)
Limitation on Types of Loans; Illegality. Anything herein to the contrary notwithstanding, if, on or prior to the determination of any Eurodollar Rate:
(a) Lender the Agent determines, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of "“Eurodollar Base Rate" ” in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or
(b) any Lender determines, which determination shall be conclusive, that the relevant rate of interest referred to in the definition of "“Eurodollar Base Rate" ” in Section 1.01 hereof upon the basis of which the rate of interest for Loans is to be determined is not likely adequate adequately to cover the cost to such Lender of making or maintaining Loans; or
(c) Lender determines, which determination shall be conclusive, that it is or will be becomes unlawful for any Lender to honor its obligation to make or maintain Loans hereunder using a Eurodollar Rate as a result of compliance by 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)Rate; then Lender the Agent or such Lender, as the case may be, shall give Borrower the Borrowers prompt notice thereof and, so long as such condition remains in effect, each applicable Lender shall be under no obligation to make additional Loans, and each Borrower shall, at its sole option and discretion, either prepay all such Loans as may be outstanding or pay interest on such Loans at a rate per annum equal to the Eurodollar Substitute Federal Loan Rate; provided, that if a Lender determines not to make any additional Loans, then such Lender shall reimburse the Borrowers a pro rata portion of the facility fee paid to such Lender pursuant to Section 3.04, based upon the number of days elapsed from the Effective Date to date of such determination.
Appears in 2 contracts
Samples: Master Loan and Security Agreement (New Century Financial Corp), Master Loan and Security Agreement (New Century Financial Corp)
Limitation on Types of Loans; Illegality. Anything herein ----------------------------------------- to the contrary notwithstanding, if, on or prior to the determination of any Eurodollar Rate:
(a) the Lender determines, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Base Rate" in Section 1.01 1.1 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or
(b) the Lender determines, which determination shall be conclusive, that the relevant rate of interest referred to in the definition of "Eurodollar Base Rate" in Section 1.01 1.1 hereof upon the basis of which the rate of interest for Loans is to be determined is not likely adequate adequately to cover the cost to the Lender of making or maintaining Loans; or
(c) Lender determines, which determination shall be conclusive, that it is or will be becomes unlawful for the Lender to honor its obligation to make or maintain Loans hereunder using a Eurodollar Rate as a result of compliance by 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)Rate; then the Lender shall give the Borrower prompt notice thereof and, so long as such condition remains in effect, the Lender shall be under no obligation to make additional Loans, and the Borrower shall, at its sole option and discretion, either prepay all such Loans as may be outstanding or pay interest on such Loans at a rate per annum equal to the Eurodollar Substitute Federal Loan Rate; provided, that if the Lender determines not to make any additional Loans, then the Lender shall reimburse the Borrower a pro rata portion of the facility fee paid to the Lender pursuant to Section 3.4, based upon the number of days elapsed from the Effective Date to date of such determination.
Appears in 1 contract
Samples: Master Loan and Security Agreement (New Century Financial Corp)
Limitation on Types of Loans; Illegality. Anything herein to the contrary notwithstanding, if, on or prior to the determination of any Eurodollar Base Rate:
(a) the Lender determines, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or
(b) the Lender determines, which determination shall be conclusive, that the relevant rate of interest referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof upon the basis of which the rate of interest for Loans is to be determined is not likely adequate adequately to cover the cost to the Lender of making or maintaining Loans; or
(c) Lender determines, which determination shall be conclusive, that it is or will be becomes unlawful for the Lender to honor its obligation to make or maintain Loans hereunder using a Eurodollar Rate as a result of compliance by 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)Rate; then the Lender shall give Borrower the Borrowers prompt notice thereof and, so long as such condition remains in effect, the Lender shall be under no obligation to make additional Loans, and Borrower the Borrowers shall, at their option, within 5 Business Days following receipt of such notice either prepay prepay, without penalty or premium, all such Loans as may be outstanding or pay interest on such Loans at a rate per annum equal to the Eurodollar Substitute RateFederal Funds Rate plus 1%.
Appears in 1 contract
Limitation on Types of Loans; Illegality. Anything herein to the contrary notwithstanding, if, on or prior to the determination of any Eurodollar Rate:
(a) the Lender determines, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or
(b) the Lender determines, which determination shall be conclusive, that the relevant rate of interest referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof upon the basis of which the rate of interest for Loans is to be determined is not likely adequate adequately to cover the cost to the Lender of making or maintaining Loans; or
(c) Lender determines, which determination shall be conclusive, that it is or will be becomes unlawful for the Lender to honor its obligation to make or maintain Loans hereunder using a Eurodollar Rate as a result of compliance by 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)Rate; then the Lender shall give Borrower the Borrowers prompt notice thereof and, so long as such condition remains in effect, the Lender shall be under no obligation to make additional Loans, and Borrower the Borrowers shall, either prepay all such Loans as may be outstanding or pay interest on such Loans at a rate per annum equal to the Eurodollar Substitute RateFederal Funds Rate plus 2.50%.
Appears in 1 contract
Samples: Master Loan and Security Agreement (Hanover Capital Mortgage Holdings Inc)
Limitation on Types of Loans; Illegality. Anything herein to the contrary notwithstanding, if, on or prior to the determination of any Eurodollar Rate:
(a) the Lender determines, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or
(b) the Lender determines, which determination shall be conclusive, that the relevant rate of interest referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof upon the basis of which the rate of interest for Loans is to be determined is not likely adequate adequately to cover the cost to the Lender of making or maintaining Loans; or
(c) Lender determines, which determination shall be conclusive, that it is or will be becomes unlawful for the Lender to honor its obligation to make or maintain Loans hereunder using a Eurodollar Rate as a result of compliance by 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)Rate; then the Lender shall give the Borrower prompt notice thereof and, so long as such condition remains in effect, the Lender shall be under no obligation to make additional Loans, and the Borrower shall, either prepay all such Loans as may be outstanding or pay interest on such Loans at a rate per annum equal to the Eurodollar Substitute RateFederal Funds Rate plus the Applicable Margin plus the Federal Funds Margin.
Appears in 1 contract
Samples: Master Loan and Security Agreement (Doral Financial Corp)
Limitation on Types of Loans; Illegality. Anything herein to the contrary notwithstanding, if, on or prior to the determination of any Eurodollar Rate:
(a) the Lender determines, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or
(b) the Lender determines, which determination shall be conclusive, that the relevant rate of interest referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof upon the basis of which the rate of interest for Loans is to be determined is not likely adequate adequately to cover the cost to the Lender of making or maintaining Loans; or
(c) Lender determines, which determination shall be conclusive, that it is or will be becomes unlawful for the Lender to honor its obligation to make or maintain Loans hereunder using a Eurodollar Rate as a result of compliance by 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)Rate; then the Lender shall give Borrower the Borrowers prompt notice thereof and, so long as such condition remains in effect, the Lender shall be under no obligation to make additional Loans (provided that the Borrowers and the Lender will use their best efforts to mutually agree upon an interest rate for future Loans, and Borrower shallupon such agreement, the Lender shall be obligated to make such additional Loans hereunder bearing such interest rate), and the Borrowers shall at Borrowers' option, either prepay all such Loans as may be outstanding outstanding, without penalty or premium, or pay interest on such Loans at a rate per annum equal to the Eurodollar Substitute RateFederal Funds Rate plus 1.5%.
Appears in 1 contract
Samples: Master Loan and Security Agreement (Allied Capital Corp)
Limitation on Types of Loans; Illegality. Anything herein to the contrary notwithstanding, if, on or prior to the determination of any Eurodollar Rate:
(a) the Lender determines, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or
(b) the Lender determines, which determination shall be conclusive, that the relevant rate of interest referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof upon the basis of which the rate of interest for Loans is to be determined is not likely adequate adequately to cover the cost to the Lender of making or maintaining Loans; or
(c) Lender determines, which determination shall be conclusive, that it is or will be becomes unlawful for the Lender to honor its obligation to make or maintain Loans hereunder using a Eurodollar Rate as a result of compliance by 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)Rate; then the Lender shall give the Borrower prompt notice thereof and, so long as such condition remains in effect, the Lender shall be under no obligation to make additional Loans (provided that the Borrower and the Lender will use their best efforts to mutually agree upon an interest rate for future Loans, and upon such agreement, the Lender shall be obligated to make such additional Loans hereunder bearing such interest rate), and the Borrower shallshall at Borrower's option, either prepay all such Loans as may be outstanding outstanding, without penalty or premium, or pay interest on such Loans at a rate per annum equal to the Eurodollar Substitute RateFederal Funds Rate plus 1.5%.
Appears in 1 contract
Samples: Master Loan and Security Agreement (Allied Capital Corp)
Limitation on Types of Loans; Illegality. Anything herein to the contrary notwithstanding, if, on or prior to the determination of any Eurodollar Rate:
(a) the Lender determinesdetermines in good faith, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or
(b) the Lender determines, which determination shall be conclusive, that the relevant rate of interest referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof upon the basis of which the rate of interest for Loans is to be determined is not likely adequate adequately to cover the cost to the Lender of making or maintaining Loans; or
(c) Lender determines, which determination shall be conclusive, that it is or will be becomes unlawful for the Lender to honor its obligation to make or maintain Loans hereunder using a Eurodollar Rate as a result of compliance by 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)Rate; then the Lender shall give Borrower the Borrowers prompt notice thereof and, so long as such condition remains in effect, the Lender shall be under no obligation to make additional Loans, and Borrower the Borrowers shall, either prepay all such Loans as may be outstanding or pay interest on such Loans at a rate per annum equal to the Eurodollar Substitute RateFederal Funds Rate plus 0.50% plus the Applicable Margin.
Appears in 1 contract
Samples: Master Loan and Security Agreement (Aames Financial Corp/De)
Limitation on Types of Loans; Illegality. Anything herein to ---------------------------------------- the contrary notwithstanding, if, on or prior to the determination of any Eurodollar Base Rate:
(a) the Lender determines, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or
(b) the Lender determines, which determination shall be conclusive, that the relevant rate of interest referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof upon the basis of which the rate of interest for Loans is to be determined is not likely adequate adequately to cover the cost to the Lender of making or maintaining Loans; or
(c) Lender determines, which determination shall be conclusive, that it is or will be becomes unlawful for the Lender to honor its obligation to make or maintain Loans hereunder using a Eurodollar Rate as a result of compliance by 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)Rate; then the Lender shall give the Borrower prompt notice thereof and, so long as such condition remains in effect, the Lender shall be under no obligation to make additional Loans, and the Borrower shall, either prepay all such Loans as may be outstanding or pay interest on such Loans at a rate per annum equal to the Eurodollar Substitute RateFederal Funds Rate plus 1%.
Appears in 1 contract
Samples: Master Loan and Security Agreement (Life Financial Corp)
Limitation on Types of Loans; Illegality. Anything herein to the contrary notwithstanding, if, on or prior to the determination of any Eurodollar Rate:
(a) the Lender determines, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Base Rate" in Section 1.01 1.1 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or
(b) the Lender determines, which determination shall be conclusive, that the relevant rate of interest referred to in the definition of "Eurodollar Base Rate" in Section 1.01 1.1 hereof upon the basis of which the rate of interest for Loans is to be determined is not likely adequate adequately to cover the cost to the Lender of making or maintaining Loans; or
(c) Lender determines, which determination shall be conclusive, that it is or will be becomes unlawful for the Lender to honor its obligation to make or maintain Loans hereunder using a Eurodollar Rate as a result of compliance by 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)Rate; then the Lender shall give Borrower the Borrowers prompt notice thereof and, so long as such condition remains in effect, the Lender shall be under no obligation to make additional Loans, and each Borrower shall, at its sole option and discretion, either prepay all such Loans as may be outstanding or pay interest on such Loans at a rate per annum equal to the Eurodollar Substitute Federal Loan Rate; provided, that if the Lender determines not to make any additional Loans, then the Lender shall reimburse the Borrowers a pro rata portion of the facility fee paid to the Lender pursuant to Section 3.4, based upon the number of days elapsed from the Effective Date to date of such determination.
Appears in 1 contract
Samples: Master Loan and Security Agreement (New Century Financial Corp)
Limitation on Types of Loans; Illegality. Anything herein to the contrary notwithstanding, if, on or prior to the determination of any Eurodollar Rate:
(a) the Lender determinesdetermines in good faith, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or
(b) the Lender determines, which determination shall be conclusive, that the relevant rate of interest referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof upon the basis of which the rate of interest for Loans is to be determined is not likely adequate adequately to cover the cost to the Lender of making or maintaining Loans; or
(c) Lender determines, which determination shall be conclusive, that it is or will be becomes unlawful for the Lender to honor its obligation to make or maintain Loans hereunder using a Eurodollar Rate as a result of compliance by 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)Rate; then the Lender shall give the Borrower prompt notice thereof and, so long as such condition remains in effect, the Lender shall be under no obligation to make additional Loans, and the Borrower shall, either prepay all such Loans as may be outstanding or pay interest on such Loans at a rate per annum equal to the Eurodollar Substitute RateFederal Funds Rate plus 0.50% plus the Applicable Margin.
Appears in 1 contract
Samples: Master Loan and Security Agreement (Aames Financial Corp/De)
Limitation on Types of Loans; Illegality. Anything herein to the contrary notwithstanding, if, on or prior to the determination of any Eurodollar Rate:
(a) the Lender determinesdetermines in good faith, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or
(b) the Lender determines, which determination shall be conclusive, that the relevant rate of interest referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof upon the basis of which the rate of interest for Loans is to be determined is not likely adequate to cover the cost to the Lender of making or maintaining Loans; or
(c) Lender determines, which determination shall be conclusive, that it is or will be becomes unlawful for the Lender to honor its obligation to make or maintain Loans hereunder using a Eurodollar Rate as a result of compliance by 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)Rate; then the Lender shall give the Borrower prompt notice thereof and, so long as such condition remains in effect, the Lender shall be under no obligation to make consider making additional Loans, and the Borrower shall, either prepay all such Loans as may be outstanding or pay interest on such Loans at a rate per annum equal to the Eurodollar Substitute RateFederal Funds Rate plus 2.00%.
Appears in 1 contract
Samples: Master Loan and Security Agreement (BNC Mortgage Inc)
Limitation on Types of Loans; Illegality. Anything herein to the contrary notwithstanding, if, on or prior to the determination of any Eurodollar Rate:
(a) the Lender determines, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Base Rate" in Section 1.01 1.1 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or
(b) the Lender determines, which determination shall be conclusive, that the relevant rate of interest referred to in the definition of "Eurodollar Base Rate" in Section 1.01 1.1 hereof upon the basis of which the rate of interest for Loans is to be determined is not likely adequate adequately to cover the cost to the Lender of making or maintaining Loans; or
(c) Lender determines, which determination shall be conclusive, that it is or will be becomes unlawful for the Lender to honor its obligation to make or maintain Loans hereunder using a Eurodollar Rate as a result of compliance by 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)Rate; then the Lender shall give the Borrower prompt notice thereof and, so long as such condition remains in effect, the Lender shall be under no obligation to make additional Loans, and the Borrower shall, at its sole option and discretion, either prepay all such Loans as may be outstanding or pay interest on such Loans at a rate per annum equal to the Eurodollar Substitute Federal Loan Rate.
Appears in 1 contract
Samples: Master Loan and Security Agreement (New Century Financial Corp)
Limitation on Types of Loans; Illegality. Anything herein to the contrary notwithstanding, if, on or prior to the determination of any Eurodollar Rate:
(a) the Lender determines, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or
(b) the Lender determines, which determination shall be conclusive, that the relevant rate of interest referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof upon the basis of which the rate of interest for Loans is to be determined is not likely adequate adequately to cover the cost to the Lender of making or maintaining Loans; or
(c) Lender determines, which determination shall be conclusive, that it is or will be becomes unlawful for the Lender to honor its obligation to make or maintain Loans hereunder using a Eurodollar Rate as a result of compliance by 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)Rate; then the Lender shall give the Borrower prompt notice thereof and, so long as such condition remains in effect, the Lender shall be under no obligation to make additional Loans, and the Borrower shall, either prepay all such Loans as may be outstanding or pay interest on such Loans at a rate per annum equal to the Eurodollar Substitute RateFederal Funds Rate plus 2.00%.
Appears in 1 contract
Samples: Master Loan and Security Agreement (Long Beach Financial Corp)
Limitation on Types of Loans; Illegality. Anything herein to the contrary notwithstanding, if, on or prior to determination of any Eurodollar Rate:
(a) the Lender determines, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or
(b) the Lender determines, which determination shall be conclusive, that the relevant rate of interest referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof upon the basis of which the rate of interest for Loans is to be determined is not likely adequate adequately to cover the cost to the Lender of making or maintaining Loans; or
(c) Lender determines, which determination shall be conclusive, that it is or will be becomes unlawful for the Lender to honor its obligation to make or maintain Loans hereunder using a Eurodollar Rate as a result of compliance by 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)Rate; then the Lender shall give Borrower the Borrowers prompt notice thereof and, so long as such condition remains in effect, the Lender shall be under no obligation to make additional Loans (provided that the Borrowers and the Lender will use their best efforts to mutually agree upon an interest rate for future Loans, and Borrower shallupon such agreement, either prepay all the Lender shall be obligated to make such Loans as may be outstanding or pay interest on such Loans at a rate per annum equal to the Eurodollar Substitute Rate.additional Loans
Appears in 1 contract
Samples: Master Loan and Security Agreement (Allied Capital Corp)
Limitation on Types of Loans; Illegality. Anything herein to the contrary notwithstanding, if, on or prior to the determination of any Eurodollar Rate:
(a) the Lender determines, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or
(b) the Lender determines, which determination shall be conclusive, that the relevant rate of interest referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof upon the basis of which the rate of interest for Loans is to be determined is not likely adequate adequately to cover the cost to the Lender of making or maintaining Loans; or
(c) Lender determines, which determination shall be conclusive, that it is or will be becomes unlawful for the Lender to honor its obligation to make or maintain Loans hereunder using a Eurodollar Rate as a result of compliance by 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)Rate; then the Lender shall give the Borrower prompt notice thereof and, so long as such condition remains in effect, the Lender shall be under no obligation to make additional Loans, and the Borrower shall, either prepay all such Loans as may be outstanding (without additional cost or penalty but subject to Section 3.04) and this Agreement shall terminate, or pay interest on such Loans at a rate per annum equal to the Eurodollar Substitute RateFederal Funds Rate plus the Applicable Margin.
Appears in 1 contract
Samples: Master Loan, Guarantee and Security Agreement (Northstar Realty)
Limitation on Types of Loans; Illegality. Anything herein to the contrary notwithstanding, if, on or prior to the determination of any Eurocurrency Rate:
(a) the Lender determines, which determination shall be conclusive, that by reason of circumstances affecting the relevant market, quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Base Eurocurrency Rate" in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided hereinherein (as certified by the Lender); or
(b) the Lender determines, which determination shall be conclusive, that the relevant rate of interest referred to in the definition of "Eurodollar Base Eurocurrency Rate" in Section 1.01 hereof upon the basis of which the rate of interest for Loans is to be determined is not likely adequate expected adequately to cover the cost to the Lender of making or maintaining LoansLoans (as certified by the Lender); or
(c) Lender determines, which determination shall be conclusive, that it is or will be becomes unlawful for the Lender to honor its obligation to make or maintain Loans hereunder using a Eurodollar Eurocurrency Rate (as a result of compliance certified by 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 unlawfulLender); then the Lender shall give the Borrower Agent prompt notice thereof and, so long as such condition remains in effect, (i) in the case of clause (c) of this Section only, the Lender shall be under no obligation to make additional LoansLoans and (ii) in the case of clauses (a), (b) and Borrower shall(c) of this Section, the Borrowers shall either prepay all such Loans as may be outstanding (without additional cost or penalty but subject to Section 3.04) and this Agreement shall terminate, or pay interest on such Loans at a rate per annum equal to the Eurodollar Substitute Federal Funds Rate, plus, the Applicable Margin.
Appears in 1 contract
Limitation on Types of Loans; Illegality. Anything herein to the contrary notwithstanding, if, on or prior to the determination of any Eurodollar Rate:
(a) the Lender determines, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of "“Eurodollar Base Rate" ” in Section 1.01 1.1 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or
(b) the Lender determines, which determination shall be conclusive, that the relevant rate of interest referred to in the definition of "“Eurodollar Base Rate" ” in Section 1.01 1.1 hereof upon the basis of which the rate of interest for Loans is to be determined is not likely adequate adequately to cover the cost to the Lender of making or maintaining Loans; or
(c) Lender determines, which determination shall be conclusive, that it is or will be becomes unlawful for the Lender to honor its obligation to make or maintain Loans hereunder using a Eurodollar Rate as a result of compliance by 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)Rate; then the Lender shall give the Borrower prompt notice thereof and, so long as such condition remains in effect, the Lender shall be under no obligation to make additional Loans, and the Borrower shall, at its sole option and discretion, either prepay all such Loans as may be outstanding or pay interest on such Loans at a rate per annum equal to the Eurodollar Substitute Federal Loan Rate; provided, that if the Lender determines not to make any additional Loans, then the Lender shall reimburse the Borrower a pro rata portion of the facility fee paid to the Lender pursuant to Section 3.4, based upon the number of days elapsed from the Effective Date to date of such determination.
Appears in 1 contract
Samples: Master Loan and Security Agreement (New Century Financial Corp)
Limitation on Types of Loans; Illegality. Anything herein to the contrary notwithstanding, if:
(a) Lender determines, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or
(b) Lender determines, which determination shall be conclusive, that the relevant rate of interest referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof upon the basis of which the rate of interest for Loans is to be determined is not likely adequate to cover the cost to Lender of making or maintaining Loans; or
(c) Lender determines, which determination shall be conclusive, that it is or will be unlawful for Lender to honor its obligation to make or maintain Loans hereunder using a Eurodollar Rate as a result of compliance by 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); then Lender shall give Borrower Borrowers prompt notice thereof and, so long as such condition remains in effect, Lender shall be under no obligation to make additional Loans, and Borrower shall, Borrowers shall either prepay all such Loans as may be outstanding or pay interest on such Loans at a rate per annum equal to the Eurodollar Substitute Rate. In the event Lender exercises its rights under this Section 3.09, Borrower's obligation under Section 3.01(f) hereof to pay a Minimum Usage Fee shall terminate for the period of time such condition remains in effect.
Appears in 1 contract
Samples: Master Loan and Security Agreement (Capital Trust Inc)
Limitation on Types of Loans; Illegality. Anything herein to the contrary notwithstanding, if, on or prior to the determination of any Eurodollar Base Rate:
(a) the Lender determines, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or
(b) the Lender determines, which determination shall be conclusive, that the relevant rate of interest referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof upon the basis of which the rate of interest for Loans is to be determined is not likely adequate adequately to cover the cost to the Lender of making or maintaining Loans; or
(c) Lender determines, which determination shall be conclusive, that it is or will be becomes unlawful for the Lender to honor its obligation to make or maintain Loans hereunder using a Eurodollar Rate as a result of compliance by 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)Rate; then the Lender shall give the Borrower prompt notice thereof and, so long as such condition remains in effect, the Lender shall be under no obligation to make additional Loans, and the Borrower shall, either prepay all such Loans as may be outstanding or pay interest on such Loans at a rate per annum equal to the Eurodollar Substitute RateFederal Funds Rate plus 1%.
Appears in 1 contract
Limitation on Types of Loans; Illegality. Anything herein to the contrary notwithstanding, if, on or prior to the determination of any Eurodollar Rate:
(a) Lender the Agent determines, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or
(b) Lender the Agent determines, which determination shall be conclusive, that the relevant rate of interest referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof upon the basis of which the rate of interest for Loans is to be determined is not likely adequate adequately to cover the cost to Lender the Lenders of making or maintaining Loans; or
(c) Lender determines, which determination shall be conclusive, that it is or will be becomes unlawful for any Lender to honor its obligation to make or maintain Loans hereunder using a Eurodollar Rate as a result of compliance by 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)Rate; then Lender the Agent shall give Borrower the Borrowers prompt notice thereof and, so long as such condition remains in effect, Lender the Lenders shall be under no obligation to make additional Loans, and Borrower the Borrowers shall, either prepay all such Loans as may be outstanding or pay interest on such Loans at a rate per annum equal to the Eurodollar Substitute RateFederal Funds Rate plus 0.50% plus the Applicable Margin.
Appears in 1 contract
Samples: Master Loan and Security Agreement (American Home Mortgage Investment Corp)
Limitation on Types of Loans; Illegality. Anything herein to the ---------------------------------------- contrary notwithstanding, if, on or prior to the determination of any Eurodollar Rate and the Applicable Margin:
(a) the Lender determines, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or
(b) the Lender determines, which determination shall be conclusive, that the relevant rate of interest referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof upon the basis of which the rate of interest for Loans is to be determined is not likely adequate to cover the cost to the Lender of making or maintaining Loans; or
(c) Lender determines, which determination shall be conclusive, that it is or will be becomes unlawful for the Lender to honor its obligation to make or maintain Loans hereunder using a Eurodollar Rate as a result of compliance by 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)Rate; then the Lender shall give Borrower the Borrowers prompt notice thereof and, so long as such condition remains in effect, the Lender shall be under no obligation to make consider making additional Loans, and Borrower the Borrowers shall, either prepay all such Loans as may be outstanding or pay interest on such Loans at a rate per annum equal to the Eurodollar Substitute RateFederal Funds Rate plus 4.00%; provided, however, that such prepayment or payment of increased interest rate shall take effect with respect to clause (b) above two Business Days following such notice.
Appears in 1 contract
Samples: Master Loan and Security Agreement (New Century Financial Corp)
Limitation on Types of Loans; Illegality. Anything herein to the contrary notwithstanding, if, on or prior to the determination of any Eurodollar Rate:
(a) the Lender determines, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or
(b) the Lender determines, which determination shall be conclusive, that the relevant rate of interest referred to in the definition of "Eurodollar Base Rate" in Section 1.01 hereof upon the basis of which the rate of interest for Loans is to be determined is not likely adequate adequately to cover the cost to the Lender of making or maintaining Loans; or
(c) Lender determines, which determination shall be conclusive, that it is or will be becomes unlawful for the Lender to honor its obligation to make or maintain Loans hereunder using a Eurodollar Rate as a result of compliance by 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)Rate; then the Lender shall give the Borrower prompt notice thereof and, so long as such condition remains in effect, the Lender shall be under no obligation to make additional Loans, and the Borrower shall, either prepay all such Loans as may be outstanding or pay interest on such Loans at a rate per annum equal to the Eurodollar Substitute RateFederal Funds Rate plus 1%.
Appears in 1 contract
Samples: Master Loan and Security Agreement (Resource America Inc)