Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of an interest rate for any LIBOR Loans for any Interest Period therefor, the Required Banks determine (which determination shall be conclusive): (a) by reason of any event affecting the money markets in the United States of America or the London interbank market, quotations of interest rates for the relevant deposits are not being provided in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such Loans under this Agreement; or (b) the rates of interest referred to in the definition of "LIBOR Base Rate" in Article 1 hereof upon the basis of which the rate of interest on any LIBOR Loans for such period is determined, do not accurately reflect the cost to the Banks of making or maintaining such Loans for such period; then the Agent shall give the Borrowers and each Bank prompt notice thereof (and shall thereafter give the Borrowers and each Bank prompt notice of the cessation, if any, of such condition), and so long as such condition remains in effect, the Banks shall be under no obligation to make Loans of such Type or to convert Loans of any other Type into Loans of such Type and the Borrowers shall, on the last day(s) of the then current Interest Period(s) for the outstanding Loans of the affected Type either repay such Loans in accordance with Section 2.5 hereof or convert such Loan into Loans of another Type in accordance with Section 2.17 hereof.
Appears in 4 contracts
Samples: Loan Agreement (Health Care Reit Inc /De/), Loan Agreement (Health Care Reit Inc /De/), Loan Agreement (Health Care Reit Inc /De/)
Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of an interest rate for any LIBOR Loans for any Interest Period therefor, the Required Banks determine (which determination shall be conclusive):
(a) by reason of any event affecting the money markets in the United States of America or the London interbank market, quotations of interest rates for the relevant deposits are not being provided in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such Loans under this Agreement; or
(b) the rates of interest referred to in the definition of "LIBOR Base Rate" in Article 1 hereof upon the basis of which the rate of interest on any LIBOR Loans for such period is determined, do not accurately reflect the cost to the Banks of making or maintaining such Loans for such period; then the Agent shall give the Borrowers and each Bank prompt notice thereof (and shall thereafter give the Borrowers and each Bank prompt notice of the cessation, if any, of such condition), and so long as such condition remains in effect, the Banks shall be under no obligation to make Loans of such Type or to convert Loans of any other Type into Loans of such Type and the Borrowers shall, on the last day(s) of the then current Interest Period(s) for the outstanding Loans of the affected Type either repay such Loans in accordance with Section 2.5 2.6 hereof or convert such Loan Loans into Loans of another Type in accordance with Section 2.17 hereofType.
Appears in 2 contracts
Samples: Loan Agreement (Omega Healthcare Investors Inc), Loan Agreement (Omega Healthcare Investors Inc)
Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of an interest rate for any LIBOR Loans for any Interest Period therefor, the Required Banks determine (which determination shall be conclusive):Lenders reasonably determine:
(a) by reason of any event affecting the money markets in the United States of America or the London interbank market, quotations of interest rates for the relevant deposits are not being provided in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such Loans under this Agreement; or
(b) the rates of interest referred to in the definition of "“LIBOR Base Rate" ” in Article 1 hereof upon the basis of which the rate of interest on any LIBOR Loans for such period is determined, do not accurately reflect the cost to the Banks Lenders of making or maintaining such Loans for such period; then the Agent shall give the Borrowers Borrower and each Bank Lender prompt notice thereof (and shall thereafter give the Borrowers Borrower and each Bank Lender prompt notice of the cessation, if any, of such condition), and so long as such condition remains in effect, the Banks Lenders shall be under no obligation to make Loans of such Type or to convert Loans of any other Type into Loans of such Type and the Borrowers Borrower shall, on the last day(s) of the then current Interest Period(s) for the outstanding Loans of the affected Type either repay such Loans in accordance with Section 2.5 hereof or convert such Loan into Loans of another Type in accordance with Section 2.17 hereof.
Appears in 2 contracts
Samples: Credit Agreement (Cornerstone Healthcare Plus Reit, Inc.), Credit Agreement (Grubb & Ellis Healthcare REIT II, Inc.)
Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of an interest rate for any LIBOR Eurodollar Loans for any Interest Period therefor, the Required Banks determine Agent determines (which determination shall be conclusive):
(a) by reason of any event affecting the money markets in the United States of America or the London Eurodollar interbank market, quotations of interest rates for the relevant deposits are not being provided in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such Loans under this Agreement; or
(b) the rates rate of interest referred to in the definition of "LIBOR Base Eurodollar Rate" in Article 1 hereof upon the basis of which the rate of interest on any LIBOR Eurodollar Loans for such period is determined, do does not accurately reflect the cost to the Banks of making or maintaining such Loans for such period; , then the Agent shall give the Borrowers Borrower and each Bank prompt notice thereof (and shall thereafter give the Borrowers Borrower and each Bank prompt notice of the cessation, if any, of such condition), and so long as such condition remains in effect, the Banks shall be under no obligation to make Loans of such Type type or to convert Loans of any other Type type into Loans of such Type type and the Borrowers Borrower shall, on the last day(s) of the then current Interest Period(s) for the outstanding Loans of the affected Type type either repay prepay such Loans in accordance with Section 2.5 2.8 hereof or convert such Loan Loans into Loans of another Type type in accordance with Section 2.17 2.21 hereof.
Appears in 1 contract
Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of an interest rate for any LIBOR Loans for any Interest Period therefor, the Required Banks determine Bank determines (which determination shall be conclusive):
(a) by reason of any event affecting the money markets in the United States of America or the London interbank market, quotations of interest rates for the relevant deposits are not being provided in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such LIBOR Loans under this Agreement; or
(b) the rates of interest referred to in the definition of "LIBOR Base Rate" in Article 1 hereof upon the basis of which the rate of interest on any LIBOR Loans for such period is determined, do not accurately reflect the cost to the Banks Bank of making or maintaining such LIBOR Loans for such period; , then the Agent Bank shall give the Borrowers and each Bank Borrower prompt notice thereof (and shall thereafter give the Borrowers and each Bank Borrower prompt notice of the cessation, if any, of such condition), and so long as such condition remains in effect, the Banks Bank shall be under no obligation to make LIBOR Loans of such Type or to convert Base Rate Loans of any other Type into LIBOR Loans of such Type and the Borrowers Borrower shall, on the last day(s) of the then current Interest Period(s) for the outstanding LIBOR Loans of the affected Type either repay such Loans in accordance with Section 2.5 hereof or convert such Loan LIBOR Loans into Base Rate Loans of another Type in accordance with Section 2.17 hereof.
Appears in 1 contract
Samples: Loan Agreement (Care Group Inc)
Limitation on Types of Loans. Anything herein contained to the contrary notwithstanding, if, on or prior to the determination of an interest rate for any LIBOR Loans for any Interest Period therefor, :
(a) the Required Banks determine Agent determines (which determination shall be conclusive):
(a) that, by reason of any event affecting the money markets in the United States of America or the London interbank market, quotations of interest rates for the relevant deposits are not being provided in such markets in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such Loans under this Agreement; or
(b) the Agent determines (which determination shall be conclusive) that by reason of any event affecting money or financial markets in the United States of America or the London interbank market, rates of interest or the cost of making or maintaining loans, the rate of interest referred to in the definition of "LIBOR Base RateAdjusted LIBOR" in Article 1 hereof upon the basis of which the rate of interest on of any LIBOR Loans for such period is determined, do determined does not accurately reflect the cost to the Banks Lenders of making or maintaining such Loans for such period; then the Agent shall give the Borrowers and each Bank Borrower prompt written notice thereof (and shall thereafter give the Borrowers and each Bank prompt notice of the cessation, if any, of such condition)thereof, and so long as such condition remains in effect, the Banks Lenders shall be under no obligation to make LIBOR Loans of such Type or to convert Loans of any other Type into Loans of such Type and the Borrowers Borrower shall, on the last day(s) of the then current Interest Period(s) for the outstanding Loans of the affected Type LIBOR Loans, either repay prepay such LIBOR Loans in accordance with Section 2.5 2.07 hereof or convert Convert such Loan LIBOR Loans into Base Rate Loans of another Type in accordance with Section 2.17 2.06 hereof.
Appears in 1 contract
Samples: Warehouse Revolving Credit Facility Agreement (Marlin Business Services Inc)
Limitation on Types of Loans. Anything herein contained to the contrary notwithstanding, if, on or prior to the determination of an interest rate for any LIBOR Loans for any Interest Period therefor, :
(a) the Required Banks determine Administrative Agent reasonably determines (which determination shall be conclusive):
(a) that, by reason of any event affecting the money markets in the United States of America or the London interbank market, quotations of interest rates for the relevant deposits are not being provided in such markets in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such Loans under this Agreement; or
(b) the Administrative Agent reasonably determines (which determination shall be conclusive) that by reason of any event affecting money or financial markets in the United States of America or the London interbank market, rates of interest or the cost of making or maintaining loans, the rate of interest referred to in the definition of "LIBOR Base Rate" “LIBOR” in Article 1 Section 1.01 hereof upon the basis of which the rate of interest on of any LIBOR Loans for such period is determined, do determined does not accurately reflect the cost to the Banks of making or maintaining such Loans for such period; then the Administrative Agent shall give the Borrowers and each Bank Borrower prompt notice thereof (and shall thereafter give the Borrowers and each Bank prompt notice of the cessation, if any, of such condition)thereof, and so long as such condition remains in effect, the Banks shall be under no obligation to make LIBOR Loans of such Type or to convert Loans of any other Type into Loans of such Type and the Borrowers Borrower shall, on the last day(s) of the then current Interest Period(s) for the outstanding Loans of the affected Type LIBOR Loans, either repay prepay such LIBOR Loans in accordance with Section 2.5 2.07 hereof or convert Convert such Loan LIBOR Loans into Base Rate Loans of another Type in accordance with Section 2.17 2.18 hereof.
Appears in 1 contract
Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of an interest rate for any LIBOR CD Loans or Eurodollar Loans for any Interest Period therefor, the Required Banks determine Bank determines (which determination shall be conclusive):
(a) by reason of any event affecting the money markets in the United States of America or the London Eurodollar interbank market, quotations of interest rates for the relevant deposits are not being provided in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such Loans under this Agreement; or
(b) the rates of interest referred to in the definition of "LIBOR “Fixed Base Rate" ” in Article 1 hereof upon the basis of which the rate of interest on any LIBOR CD Loans or Eurodollar Loans for such period is determined, do not accurately reflect the cost to the Banks Bank of making or maintaining such Loans for such period; , then the Agent Bank shall give the Borrowers and each Bank prompt notice thereof (and shall thereafter give the Borrowers and each Bank prompt notice of the cessation, if any, of such condition), and so long as such condition remains in effect, the Banks Bank shall be under no obligation to make new Loans of such Type type or to convert Loans of any other Type type into new Loans of such Type type and the Borrowers shall, on the last day(s) of the then current Interest Period(s) for the outstanding Loans of the affected Type type either repay prepay such Loans in accordance with Section 2.5 hereof 2.6 or convert such Loan Loans into Loans of another Type type in accordance with Section 2.17 hereof2.16.
Appears in 1 contract
Samples: Loan Agreement
Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of an interest rate for any LIBOR Eurodollar Loans for any Interest Period therefor, the Required Majority Banks determine (which determination shall be conclusive):
(a) by reason of any event affecting the money markets in the United States of America or the London interbank Eurodollar market, quotations of interest rates for the relevant deposits are not being provided in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such Loans under this Agreement; : or
(b) the rates of interest referred to in the definition of "LIBOR Eurodollar Base Rate" in Article 1 I hereof upon the basis of which the rate of interest on any LIBOR Eurodollar Loans for such period is determined, determined do not accurately reflect the cost to the Banks Bank of making or maintaining such Loans for such period; then the Agent shall give the Borrowers and each Bank prompt notice thereof (and shall thereafter give the Borrowers and each Bank prompt notice of the cessation, if any, of such condition), and so long as such condition remains in effect, the Banks shall be under no obligation to make new Loans of such Type type or to convert Loans of any other Type type into Loans of such Type type and the Borrowers shall, on the last day(s) of the then current Interest Period(s) for the outstanding Loans of the affected Type type either repay prepay such Loans in accordance with Section 2.5 2.8 hereof or convert such Loan Loans into Loans of another Type type in accordance with Section 2.17 2.7 hereof.
Appears in 1 contract
Samples: Loan Agreement (Linc Group Inc)
Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of an interest rate for any LIBOR Eurodollar Loans for any Interest Period therefor, the Required Banks determine Administrative Agent or any Bank determines (which determination shall be conclusive):
(a) by reason of any event affecting the money markets in the United States of America or the London Eurodollar interbank market, quotations of interest rates for the relevant deposits are not being provided in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such Loans under this Agreement; or
(b) the rates of interest referred to in the definition of "LIBOR Fixed Base Rate" in Article 1 hereof upon the basis of which the rate of interest on any LIBOR Eurodollar Loans for such period is determined, do not accurately reflect the cost to the Banks of making or maintaining such Loans for such period; then the Administrative Agent or such Bank, as the case may be, shall give the Borrowers Borrower and each Bank the other Banks prompt notice thereof (and shall thereafter give the Borrowers Borrower and each Bank such other Banks prompt notice of the cessation, if any, of such condition), and so long as such condition remains in effect, the Banks shall be under no obligation to make Loans of such Type type or to convert Loans of any other Type type into Loans of such Type type and the Borrowers Borrower shall, on the last day(s) of the then current Interest Period(s) for the outstanding Loans of the affected Type type either repay prepay such Loans in accordance with Section 2.5 2.8 hereof or convert such Loan Loans into Loans of another Type type in accordance with Section 2.17 hereof.
Appears in 1 contract
Samples: Loan Agreement (Griffon Corp)
Limitation on Types of Loans. Anything herein to the contrary ---------------------------- notwithstanding, if, on or prior to the determination of an interest rate for any LIBOR Loans Eurodollar Rate for any Interest Period therefor, the Required Banks determine (which determination shall be conclusive):Period:
(a) the Agent is advised by reason of any event affecting the money markets in the United States of America or the London interbank marketReference Banks, that quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Rate" in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining the rate rates of interest for such any Eurodollar Loans under this Agreementor LIBOR Market Loans as provided herein; or
(b) if the related Loans are Syndicated Loans, the Majority Lenders notify the Agent that the relevant rates of interest referred to in the definition of "LIBOR Base Eurodollar Rate" in Article 1 Section 1.01 hereof upon the basis of which the rate of interest on any LIBOR for Eurodollar Loans for such period Interest Period is determined, do to be determined are not accurately reflect likely adequately to cover the cost to the Banks such Lenders of making or maintaining such Type of Loans for such periodInterest Period (which determination by the Majority Lenders, shall be conclusive); then the Agent shall give the Borrowers each affected Borrower and each Bank Lender prompt notice thereof (and shall thereafter give the Borrowers and each Bank prompt notice of the cessationand, if any, of such condition), and so long as such condition remains in effect, the Banks Lenders shall be under no obligation to make additional Loans of such Type, to Continue Loans of such Type or to convert Convert Loans of any other Type into Loans of such Type Type, and the Borrowers shall, on the last day(s) of the then current Interest Period(s) for the outstanding Loans of the affected Type such Type, either repay prepay such Loans or Convert such Loans into another Type of Loan in accordance with Section 2.5 hereof or convert such Loan into Loans of another Type in accordance with Section 2.17 hereof2.10.
Appears in 1 contract
Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to :
(a) the determination of an interest rate for any LIBOR Loans for any Interest Period therefor, the Required Banks determine Administrative Agent determines (which determination shall be conclusive):
(a) by reason of any event affecting the money markets in the United States of America or the London interbank market, that quotations of interest rates for the relevant deposits referred to in the definition of "Fixed Base Rate" in Section 1.01 are not being provided in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such any type of Fixed Rate Loans under as provided in this Agreement; or
(b) the Required Banks determine (which determination shall be conclusive) and notify the Administrative Agent that the relevant rates of interest referred to in the definition of "LIBOR Fixed Base Rate" in Article 1 hereof Section 1.01 upon the basis of which the rate of interest on for any LIBOR type of Fixed Rate Loans for such period is determined, to be determined do not accurately reflect adequately cover the cost to the Banks of making or maintaining such Loans for such periodLoans; then the Administrative Agent shall give the Borrowers Borrower and each Bank prompt notice thereof (and shall thereafter give the Borrowers and each Bank prompt notice of the cessation, if any, of such condition)thereof, and so long as such condition remains in effect, the Banks shall be under no obligation to make or renew Loans of such Type type or to convert Loans of any other Type type into Loans of such Type type and the Borrowers Borrower and each respective Subsidiary Co-Borrower (as applicable) shall, on the last day(s) of the then current Interest Period(s) for the outstanding Loans of the affected Type type, either repay prepay such Loans or convert such Loans into another type of Loans in accordance with Section 2.5 hereof or convert such Loan into Loans of another Type in accordance with Section 2.17 hereof2.05.
Appears in 1 contract
Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of an interest rate for any LIBOR Loans for any Interest Period therefor, the Required Banks determine (which determination shall be conclusive):
(a) by reason of any event affecting the money markets in the United States of America or the London interbank market, quotations of interest rates for the relevant deposits are not being provided in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such Loans under this Agreement; or
(b) the rates of interest referred to in the definition of "“LIBOR Base Rate" ” in Article 1 hereof upon the basis of which the rate of interest on any LIBOR Loans for such period is determined, do not accurately reflect the cost to the Banks of making or maintaining such Loans for such period; then the Agent shall give the Borrowers and each Bank prompt notice thereof (and shall thereafter give the Borrowers and each Bank prompt notice of the cessation, if any, of such condition), and so long as such condition remains in effect, the Banks shall be under no obligation to make Loans of such Type or to convert Loans of any other Type into Loans of such Type and the Borrowers shall, on the last day(s) of the then current Interest Period(s) for the outstanding Loans of the affected Type either repay such Loans in accordance with Section 2.5 hereof or convert such Loan into Loans of another Type in accordance with Section 2.17 hereof.
Appears in 1 contract
Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of an interest rate for any LIBOR Loans for any Interest Period therefor, the Required Banks determine FNBB determines (which determination shall be conclusive):
(a, provided that such determination shall be made in good faith upon a reasonable basis) by reason of any event affecting the money markets in the United States of America or the London interbank market, quotations of interest rates for the relevant deposits are not being provided in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such Loans under this Agreement; or
(b) that the rates of interest referred to in the definition of "LIBOR Base RateLIBOR" in Article 1 hereof upon the basis of which the rate of interest on any LIBOR Loans for such period is determined, determined do not accurately reflect the cost to the Banks FNBB of making or maintaining such Loans for such period; , then the Agent FNBB shall give the Borrowers and each Bank Borrower prompt notice thereof (and shall thereafter give the Borrowers and each Bank Borrower prompt notice of the cessation, if any, of such condition), and so long as such condition remains in effect, the Banks FNBB shall be under no obligation to make LIBOR Loans of such Type or to convert Base Rate Loans of any other Type into LIBOR Loans of such Type and the Borrowers Borrower shall, on the last day(s) of the then current Interest Period(s) for the outstanding LIBOR Loans of the affected Type either repay prepay such LIBOR Loans in accordance with Section 2.5 2.2(a) hereof (subject to Section 2.2(b) hereof) or convert such Loan LIBOR Loans into Base Rate Loans of another Type in accordance with Section 2.17 2.1(g) hereof.
Appears in 1 contract
Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to :
(a) the determination of an interest rate for any LIBOR Loans for any Interest Period therefor, the Required Banks determine Agent determines (which determination shall be conclusive):
(a) by reason of any event affecting the money markets in the United States of America or the London interbank market, that quotations of interest rates for the relevant deposits referred to in the definition of "Fixed Base Rate" in SECTION 1.01 are not being provided in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such any type of Fixed Rate Loans under as provided in this Agreement; or
(b) the Required Banks determine (which determination shall be conclusive) and notify the Agent that the relevant rates of interest referred to in the definition of "LIBOR Fixed Base Rate" in Article 1 hereof SECTION 1.01 upon the basis of which the rate of interest on for any LIBOR type of Fixed Rate Loans for such period is determined, to be determined do not accurately reflect adequately cover the cost to the Banks of making or maintaining such Loans for such periodLoans; then the Agent shall give the Borrowers Borrower and each Bank prompt notice thereof (and shall thereafter give the Borrowers and each Bank prompt notice of the cessation, if any, of such condition)thereof, and so long as such condition remains in effect, the Banks shall be under no obligation to make or renew Loans of such Type type or to convert Loans of any other Type type into Loans of such Type type and the Borrowers Borrower shall, on the last day(s) of the then current Interest Period(s) for the outstanding Loans of the affected Type type, either repay prepay such Loans or convert such Loans into another type of Loans in accordance with Section 2.5 hereof or convert such Loan into Loans of another Type in accordance with Section 2.17 hereofSECTION 2.05.
Appears in 1 contract
Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of an interest rate for any LIBOR Loans for any Interest Period therefor, the Required Banks reasonably determine (which determination shall be conclusive):
(a) by reason of any event affecting the money markets in the United States of America or the London interbank market, quotations of interest rates for the relevant deposits are not being provided in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such Loans under this Agreement; or
(b) the rates of interest referred to in the definition of "LIBOR Fixed Base Rate" in Article 1 hereof upon the basis of which the rate of interest on any LIBOR Loans for such period is determined, do not accurately reflect the cost to the Banks of making or maintaining such Loans for such period; , then the Agent shall give the Borrowers a Borrower and each Bank prompt notice thereof (and shall thereafter give the Borrowers a Borrower and each Bank prompt notice of the cessation, if any, of such condition), and so long as such condition remains in effect, the Banks shall be under no obligation to make LIBOR Loans of such Type or to convert any ABR Loans of any other Type or COF Loans into LIBOR Loans of such Type and the Borrowers shall, on the last day(s) of the then current Interest Period(s) for the outstanding LIBOR Loans of the affected Type affected, either repay prepay such LIBOR Loans in accordance with Section 2.5 2.11 hereof or convert such Loan LIBOR Loans into ABR Loans of another Type or COF Loans in accordance with Section 2.17 2.21 hereof.
Appears in 1 contract
Limitation on Types of Loans. Anything herein contained to the contrary notwithstanding, if, on or prior to the determination of an interest rate for any LIBOR Libor Term Loans for any Interest Period therefor, :
(a) the Required Banks determine Agent reasonably determines (which determination shall be conclusive):
(a) that, by reason of any event affecting the money markets in the United States of America or the London interbank market, quotations of interest rates for the relevant deposits are not being provided in such markets in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such Loans under this Agreement; or
(b) the agent reasonably determines (which determination shall be conclusive) that by reason of any event affecting money or financial markets in the United States of America or the London interbank market, rates of interest or the cost of making or maintaining loans, the rate of interest referred to in the definition of "LIBOR Base RateLibor" in Article 1 hereof upon the basis of which the rate of interest on of any LIBOR Libor Term Loans for such period is determined, do determined does not accurately reflect the cost to the Banks any Lender of making or maintaining such Loans for such period; , then the Agent shall give the Borrowers and each Bank Borrower prompt notice thereof (and shall thereafter give the Borrowers and each Bank prompt notice of the cessation, if any, of such condition)thereof, and so long as such condition remains in effect, the Banks such Lender shall be under no obligation to make Libor Term, Loans of such Type or to convert Loans of any other Type into Loans of such Type and the Borrowers shall, on the last day(s) of the then current Interest Period(s) for the outstanding Loans of the affected Type Borrower shall either repay prepay such Libor Term Loans in accordance with Section 2.5 2.6(b) hereof or convert such Loan Libor Term Loans into Prime Rate Term Loans of another Type in accordance with Section 2.17 2.7 hereof.
Appears in 1 contract
Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to :
(a) the determination of an interest rate for any LIBOR Loans for any Interest Period therefor, the Required Banks determine Administrative Agent determines (which determination shall be conclusive):
(a) by reason of any event affecting the money markets in the United States of America or the London interbank market, that quotations of interest rates for the relevant deposits referred to in the definition of "Fixed Base Rate" in Section 1.1 are not being provided in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such any type of Eurocurrency Loans under as provided in this Agreement; or
(b) the Required Banks determine (which determination shall be conclusive) and notify the Administrative Agent that the relevant rates of interest referred to in the definition of "LIBOR Fixed Base Rate" in Article 1 hereof Section 1.1 upon the basis of which the rate of interest on for any LIBOR type of Eurocurrency Loans for such period is determined, to be determined do not accurately reflect adequately cover the cost to the Banks of making or maintaining such Loans; or
(c) in the case of Eurocurrency Loans denominated in an Alternative Currency, any Bank shall determine (which determination shall be conclusive) and notify the Administrative Agent that the relevant Alternative Currency is not available in the relevant amounts or for the relevant period, or that a change in national or international controls has occurred which would, in the opinion of such Bank, make it impracticable for such periodBank to make, fund or maintain its Eurocurrency Loans to be made in such Alternative Currency or for such Borrower to pay the principal of or interest on such Eurocurrency Loans as provided in this Agreement; then the Administrative Agent shall give the Borrowers and each Bank prompt notice thereof (and shall thereafter give the Borrowers and each Bank prompt notice of the cessation, if any, of such condition)thereof, and so long as such condition remains in effect, the Banks shall be under no obligation to make or renew Loans of such Type type or to convert Loans of any other Type type into Loans of such Type type and the Borrowers Borrower shall, on the last day(s) of the then current Interest Period(s) for the outstanding Loans of the affected Type type, either repay prepay such Loans or convert such Loans into another type of Loans in accordance with Section 2.5 hereof or convert such Loan into Loans of another Type in accordance with Section 2.17 hereof2.8.
Appears in 1 contract
Samples: Credit Agreement (Cannondale Corp /)
Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of an interest rate for any LIBOR Loans Eurodollar Rate for any Interest Period therefor, the Required Banks determine (which determination shall be conclusive):Period:
(a) the Agent is advised by reason of any event affecting the money markets in the United States of America or the London interbank marketReference Banks, that quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Rate" in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining the rate rates of interest for such any Eurodollar Loans under this Agreementor LIBOR Market Loans as provided herein; or
(b) if the related Loans are Syndicated Loans, the Majority Lenders notify the Agent that the relevant rates of interest referred to in the definition of "LIBOR Base Eurodollar Rate" in Article 1 Section 1.01 hereof upon the basis of which the rate of interest on any LIBOR for Eurodollar Loans for such period Interest Period is determined, do to be determined are not accurately reflect likely adequately to cover the cost to the Banks such Lenders of making or maintaining such Type of Loans for such periodInterest Period (which determination by the Majority Lenders, shall be conclusive); then the Agent shall give the Borrowers each affected Borrower and each Bank Lender prompt notice thereof (and shall thereafter give the Borrowers and each Bank prompt notice of the cessationand, if any, of such condition), and so long as such condition remains in effect, the Banks Lenders shall be under no obligation to make additional Loans of such Type, to Continue Loans of such Type or to convert Convert Loans of any other Type into Loans of such Type Type, and the Borrowers shall, on the last day(s) of the then current Interest Period(s) for the outstanding Loans of the affected Type such Type, either repay prepay such Loans or Convert such Loans into another Type of Loan in accordance with Section 2.5 hereof or convert such Loan into Loans of another Type in accordance with Section 2.17 hereof2.10.
Appears in 1 contract
Samples: Credit Agreement (Providian Corp)
Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of an interest rate for any LIBOR Loans Eurodollar Rate for any Interest Period thereforPeriod:
(a) the Agent determines, the Required Banks determine (which determination shall be conclusive):
(a) by reason of any event affecting , that the money markets in the United States of America or the London interbank market, quotations of interest rates for referred to in the relevant deposits definition of "Eurodollar Rate" in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining the rate rates of interest for such Eurodollar Loans under this Agreementas provided herein; or
(b) if the Majority Lenders determine which determination shall be conclusive, and notify the Agent that the relevant rates of interest referred to in the definition of "LIBOR Base Eurodollar Rate" in Article 1 Section 1.01 hereof upon the basis of which the rate of interest on any LIBOR for Eurodollar Loans for such period Interest Period is determined, do to be determined are not accurately reflect likely adequately to cover the cost to the Banks such Lenders of making or maintaining such Type of Loans for such periodInterest Period; then the Agent shall give the Borrowers Company and each Bank Lender prompt notice thereof (and shall thereafter give the Borrowers and each Bank prompt notice of the cessationand, if any, of such condition), and so long as such condition remains in effect, the Banks Lenders shall be under no obligation to make additional Loans of such Type, to Continue Loans of such Type or to convert Convert Loans of any other Type into Loans of such Type Type, and the Borrowers Company shall, on the last day(s) of the then current Interest Period(s) for the outstanding Loans of the affected Type such Type, either repay prepay such Loans or Convert such Loans into another Type of Loan in accordance with Section 2.5 hereof or convert such Loan into Loans of another Type in accordance with Section 2.17 2.09 hereof.
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Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of an interest rate for any LIBOR Eurodollar Loans for any Interest Period therefor, the Required Banks determine either Bank determines (which determination shall be conclusive):
(a) by reason of any event affecting the money markets in the United States of America or the London Eurodollar interbank market, quotations of interest rates for the relevant deposits are not being provided in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such Loans under this Agreement; or
(b) the rates of interest referred to in the definition of "LIBOR Fixed Base Rate" in Article 1 hereof upon the basis of which the rate of interest on any LIBOR Eurodollar Loans for such period is determined, do not accurately reflect the cost to the Banks of making or maintaining such Loans for such period; then the Agent such Bank shall give the Borrowers Borrower and each the other Bank prompt notice thereof (and shall thereafter give the Borrowers Borrower and each such other Bank prompt notice of the cessation, if any, of such condition), and so long as such condition remains in effect, the Banks shall be under no obligation to make Loans of such Type type or to convert Loans of any other Type type into Loans of such Type type and the Borrowers Borrower shall, on the last day(s) of the then current Interest Period(s) for the outstanding Loans of the affected Type type either repay prepay such Loans in accordance with Section 2.5 2.8 hereof or convert such Loan Loans into Loans of another Type type in accordance with Section 2.17 hereof.
Appears in 1 contract
Samples: Loan Agreement (Griffon Corp)
Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of an interest rate for any LIBOR Rate Loans for any Interest Period therefor, the Required Banks Lenders determine (which determination shall be conclusive):
(a) by reason of any event affecting the money markets in the United States of America or the London interbank market, quotations of interest rates for the relevant deposits are not being provided in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such Loans under this Agreement; or
(b) the rates of interest referred to in the definition of "LIBOR Base Rate" in Article 1 Section 1.1 hereof upon the basis of which the rate of interest on any LIBOR Rate Loans for such period is determined, do not accurately reflect the cost to the Banks Lenders of making or maintaining such Loans for such period; then the Agent shall give the Borrowers and each Bank Lender prompt notice thereof (and shall thereafter give the Borrowers and each Bank Lender prompt notice of the cessation, if any, of such condition), and so long as such condition remains in effect, the Banks Lenders shall be under no obligation to make Loans of such Type or to convert Convert Loans of any other Type into Loans of such Type and the Borrowers shall, on the last day(s) of the then current Interest Period(s) for the outstanding Loans of the affected Type either repay prepay such Loans or Convert such Loans into another Type of Loan in accordance with Section 2.5 hereof or convert such Loan into Loans the terms of another Type in accordance with Section 2.17 hereofthis Agreement.
Appears in 1 contract
Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of an interest rate for any LIBOR Loans for any Interest Period therefor, the Required Banks reasonably determine (which determination shall be conclusive):
(a) by reason of any event affecting the money markets in the United States of America or the London interbank market, quotations of interest rates for the relevant deposits are not being provided in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such Loans under this Agreement; or
(b) the rates of interest referred to in the definition of "LIBOR Fixed Base Rate" in Article 1 I hereof upon the basis of which the rate of interest on any LIBOR Loans for such period is determined, do not accurately reflect the cost to the Banks of making or maintaining such Loans for such period; , then the Agent shall give the Borrowers a Borrower and each Bank prompt notice thereof (and shall thereafter give the Borrowers a Borrower and each Bank prompt notice of the cessation, if any, of such condition), and so long as such condition remains in effect, the Banks shall be under no obligation to make LIBOR Loans of such Type or to convert any ABR Loans of any other Type into LIBOR Loans of such Type and the Borrowers shall, on the last day(s) of the then current Interest Period(s) for the outstanding LIBOR Loans of the affected Type affected, either repay prepay such LIBOR Loans in accordance with Section 2.5 2.11 hereof or convert such Loan LIBOR Loans into ABR Loans of another Type in accordance with Section 2.17 2.21 hereof.
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Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of an interest rate for any LIBOR Fixed Rate Loans for any Interest Period therefor, the Required Banks determine any Bank determines (which determination shall be conclusive):
(a) by reason of any event affecting the money markets in the United States of America or the London Eurodollar interbank market, quotations of interest rates for the relevant deposits are not being provided to it in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such Loans under this Agreement; or
(b) the rates of interest referred to in the definition of "LIBOR Fixed Base Rate" in Article 1 hereof upon the basis of which the rate of interest on any LIBOR Fixed Rate Loans for such period is determined, do not accurately reflect the cost to the Banks such Bank of making or maintaining such Loans for such period; , then such Bank promptly shall notify the Agent which shall give the Borrowers NPDC and each other Bank prompt notice thereof (and shall thereafter give the Borrowers NPDC and each Bank prompt notice of the cessation, if any, of such condition), and so long as such condition remains in effect, the Banks shall be under no obligation to make Loans of such Type type or to convert Loans of any other Type type into Loans of such Type type and the Borrowers shall, on the last day(s) of the then current Interest Period(s) for the outstanding Loans of the affected Type type either repay prepay such Loans in accordance with Section 2.5 hereof or convert such Loan Loans into Loans of another Type type in accordance with Section 2.17 2.20 hereof.
Appears in 1 contract
Samples: Credit Agreement (National Patent Development Corp)
Limitation on Types of Loans. Anything herein to the contrary notwithstanding, no more than seven separate Loans shall be outstanding at any one time, with, for purposes of this Section, all Base Rate Loans constituting one Loan, and all LIBO Rate Loans for the same Interest Period constituting one Loan. Anything herein to the contrary notwithstanding, if, on or prior to the determination of an any interest rate for any LIBOR Loans LIBO Rate Loan for any Interest Period therefor, :
(a) the Required Banks determine Agent determines (which determination shall be conclusive):
(a, absent manifest error) by reason of any event affecting the money markets in the United States of America or the London interbank market, that quotations of interest rates for the relevant deposits referred to in the definition of “LIBO Rate” in Section 1.2 are not being provided in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such Loans under Loan as provided in this Agreement; or
(b) the Agent determines (which determination shall be conclusive, absent manifest error) that the rates of interest referred to in the definition of "LIBOR Base “LIBO Rate" ” in Article 1 hereof Section 1.2 upon the basis of which the rate of interest on any LIBOR Loans for such period Loan for such Interest Period is determined, to be determined do not accurately reflect adequately cover the cost to the Banks Lenders of making or maintaining such Loans Loan for such period; Interest Period, then the Agent shall give the Borrowers Borrower and each Bank the Lenders prompt notice thereof (and shall thereafter give the Borrowers and each Bank prompt notice of the cessation, if any, of such condition), thereof; and so long as such condition remains in effect, the Banks Lenders shall be under no obligation to make LIBO Rate Loans of such Type or to convert Base Rate Loans of any other Type into Loans of such Type LIBO Rate Loans, and the Borrowers Borrower shall, on the last day(s) day of the then current Interest Period(s) Period for the each outstanding Loans of the affected Type LIBO Rate Loan, either repay prepay such Loans in accordance with Section 2.5 hereof LIBO Rate Loan or convert such Loan into Loans of another Type a LIBO Rate Loan with amounts and maturities for which quotations are provided, or convert such Loan into a Base Rate Loan in accordance with the provisions of Section 2.17 hereof2.12.
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Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of an interest rate for any LIBOR Eurodollar Loans for any Interest Period therefor, the Required Banks determine Administrative Agent or any Bank determines (which determination shall be conclusive):
(a) by reason of any event affecting the money markets in the United States of America or the London Eurodollar interbank market, quotations of interest rates for the relevant deposits are not being provided in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such Loans under this Agreement; or
(b) the rates of interest referred to in the definition of "LIBOR Fixed Base Rate" in Article 1 hereof upon the basis of which the rate of interest on any LIBOR Eurodollar Loans for such period is determined, do not accurately reflect the cost to the Banks of making or maintaining such Loans for such period; then the Administrative Agent or such Bank, as the case may be, shall give a Borrower and the Borrowers and each Bank other Banks prompt notice thereof (and shall thereafter give the Borrowers a Borrower and each Bank such other Banks prompt notice of the cessation, if any, of such condition), and so long as such condition remains in effect, the Banks shall be under no obligation to make Loans of such Type type or to convert Loans of any other Type type into Loans of such Type type and the Borrowers each Borrower shall, on the last day(s) of the then current Interest Period(s) for the outstanding Loans of the affected Type type either repay prepay such Loans in accordance with Section 2.5 2.8 hereof or convert such Loan Loans into Loans of another Type type in accordance with Section 2.17 hereof.
Appears in 1 contract
Samples: Loan Agreement (Griffon Corp)
Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of an interest rate for any LIBOR Loans for any Interest Period therefor, the Required Banks Lenders determine (which determination shall be conclusive):
(a) by reason of any event affecting the money markets in the United States of America or the London interbank market, quotations of interest rates for the relevant deposits are not being provided in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such Loans under this Agreement; or
(b) the rates of interest referred to in the definition of "“LIBOR Base Rate" ” in Article 1 hereof upon the basis of which the rate of interest on any LIBOR Loans for such period is determined, do not accurately reflect the cost to the Banks Lenders of making or maintaining such Loans for such period; then the Administrative Agent shall give the Borrowers Borrower and each Bank Lender prompt notice thereof (and shall thereafter give the Borrowers Borrower and each Bank Lender prompt notice of the cessation, if any, of such condition), and so long as such condition remains in effect, the Banks Lenders shall be under no obligation to make or continue Loans of such Type or to convert Loans of any other Type into Loans of such Type and the Borrowers Borrower shall, on the last day(s) of the then current Interest Period(s) for the outstanding Loans of the affected Type either repay such Loans in accordance with Section 2.5 hereof or convert such Loan Loans into Loans of another Type in accordance with Section 2.17 hereof2.17.
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Limitation on Types of Loans. Anything A nything herein to the contrary notwithstanding, if, on or prior to the determination of an interest rate for any LIBOR Fixed Rate Loans for any Interest Period therefor, the Required Banks determine any Bank determines (which determination shall be conclusive):
(a) by reason of any event affecting the money markets in the United States of America or the London Eurodollar interbank market, quotations of interest rates for the relevant deposits are not being provided to it in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such Loans under this Agreement; or
(b) the rates of interest referred to in the definition of "LIBOR Fixed Base Rate" in Article 1 hereof upon the basis of which the rate of interest on any LIBOR Fixed Rate Loans for such period is determined, do not accurately reflect the cost to the Banks such Bank of making or maintaining such Loans for such period; , then such Bank promptly shall notify the Agent which shall give the Borrowers Borrower and each other Bank prompt notice thereof (and shall thereafter give the Borrowers Borrower and each Bank prompt notice of the cessation, if any, of such condition), and so long as such condition remains in effect, the Banks shall be under no obligation to make Loans of such Type type or to convert Loans of any other Type type into Loans of such Type type and the Borrowers Borrower shall, on the last day(s) of the then current Interest Period(s) for the outstanding Loans of the affected Type type either repay such Loans in accordance with Section 2.5 hereof or convert such Loan Loans into Loans of another Type type in accordance with Section 2.17 2.20 hereof.
Appears in 1 contract
Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of an interest rate for any LIBOR Loans for any Interest Period therefor, the Required Banks determine (which determination shall be conclusive):
(a) by reason of any event affecting the money markets in the United States of America or the London interbank market, quotations of interest rates for the relevant deposits are not being provided in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such Loans under this Agreement; or
(b) the rates of interest referred to in the definition of "LIBOR Base Rate" in Article 1 hereof upon the basis of which the rate of interest on any LIBOR Loans for such period is determined, do not accurately reflect the cost to the Banks of making or maintaining such Loans for such period; then the Agent shall give the Borrowers Borrower and each Bank prompt notice thereof (and shall thereafter give the Borrowers Borrower and each Bank prompt notice of the cessation, if any, of such condition), and so long as such condition remains in effect, the Banks shall be under no obligation to make Loans of such Type or to convert Loans of any other Type into Loans of such Type and the Borrowers Borrower shall, on the last day(s) of the then current Interest Period(s) for the outstanding Loans of the affected Type either repay such Loans in accordance with Section 2.5 2.6 hereof or convert such Loan Loans into Loans of another Type in accordance with Section 2.17 hereofType.
Appears in 1 contract
Samples: Loan Agreement (Omega Worldwide Inc)
Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of an interest rate for any LIBOR Loans for any Interest Period therefor, :
(a) the Required Majority Banks determine (which determination shall be conclusive):
(aconclusive absent manifest error) that, by reason of any event affecting the money markets in the United States of America or the London interbank market, quotations of interest rates for the relevant deposits are not being provided in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such Loans under this Agreement; , or
(b) the Majority Banks determine (which determination shall be conclusive absent manifest error) that the rates of interest referred to in the definition of "LIBOR Base Rate" in Article 1 hereof upon the basis of which the rate of interest on any LIBOR Loans for such period is determined, determined do not accurately reflect the cost to the Banks of making or maintaining such Loans for such period; then the Agent shall give the Borrowers Borrower and each Bank prompt notice thereof (and shall thereafter give the Borrowers Borrower and each Bank prompt notice of the cessation, if any, of such condition), and so long as such condition remains in effect, the Banks shall be under no obligation to make Loans of such Type type or to convert Loans of any other Type type into Loans of such Type type and the Borrowers Borrower shall, on the last day(s) of the then current Interest Period(s) for the outstanding Loans of the affected Type type either repay prepay such Loans in accordance with Section 2.5 2.9 hereof or convert such Loan Loans into Loans of another Type type in accordance with Section 2.17 2.8 hereof.
Appears in 1 contract
Samples: Loan Agreement (National Consumer Cooperative Bank /Dc/)
Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of an interest rate for any LIBOR Loans for any Interest Period therefor, the Required Banks reasonably determine (which determination shall be conclusive):
(a) by reason of any event affecting the money markets in the United States of America or the London interbank market, quotations of interest rates for the relevant deposits are not being provided in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such Loans under this Agreement; or
(b) the rates of interest referred to in the definition of "LIBOR “Fixed Base Rate" ” in Article 1 I hereof upon the basis of which the rate of interest on any LIBOR Loans for such period is determined, do not accurately reflect the cost to the Banks of making or maintaining such Loans for such period; , then the Agent shall give the Borrowers a Borrower and each Bank prompt notice thereof (and shall thereafter give the Borrowers a Borrower and each Bank prompt notice of the cessation, if any, of such condition), and so long as such condition remains in effect, the Banks shall be under no obligation to make LIBOR Loans of such Type or to convert any ABR Loans of any other Type into LIBOR Loans of such Type and the Borrowers shall, on the last day(s) of the then current Interest Period(s) for the outstanding LIBOR Loans of the affected Type affected, either repay prepay such LIBOR Loans in accordance with Section 2.5 2.11 hereof or convert such Loan LIBOR Loans into ABR Loans of another Type in accordance with Section 2.17 2.21 hereof.
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