Common use of Limitation on Types of Loans Clause in Contracts

Limitation on Types of Loans. Anything herein to the contrary notwithstanding: (a) if the LIBO Rate for any Currency is to be determined under the second paragraph of the definition of “LIBO Rate” and the Administrative Agent determines (which determination shall be conclusive) that no quotation from any Reference Lender of interest rates for the relevant deposits referred to in such paragraph is being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for LIBO Rate Loans as provided herein; or (b) if the LIBO Rate for any Currency is being determined under the second paragraph of the definition of “LIBO Rate” and the Majority Lenders determine (or any Lender that has outstanding a Competitive Bid with respect to a Competitive LIBOR Loan, determines), which determination shall be conclusive, and notify (or notifies, as the case may be) the Administrative Agent that the relevant rates of interest referred to in the second paragraph of the definition of “LIBO Rate” do not adequately cover the cost to such Lenders (or such quoting Lender) of making or maintaining its LIBO Rate Loans in such Currency; then the Administrative Agent shall give the Company and each Lender prompt notice thereof, and so long as such condition remains in effect, the Lenders (or such quoting Lender) shall be under no obligation to make additional LIBO Rate Loans in such Currency, to Continue LIBO Rate Loans in such Currency or to Convert Loans of another Type or Currency into LIBO Rate Loans in such Currency.

Appears in 2 contracts

Samples: Credit Agreement (Newell Rubbermaid Inc), Credit Agreement (Newell Rubbermaid Inc)

AutoNDA by SimpleDocs

Limitation on Types of Loans. Anything herein If on or prior to the contrary notwithstandingfirst day of any Interest Period for any Eurodollar Rate Borrowing: (a) if the LIBO Rate for any Currency is to be determined under the second paragraph of the definition of “LIBO Rate” and the Administrative Agent determines (which determination shall be conclusive) that no quotation from any Reference Lender by reason of interest rates for circumstances affecting the relevant deposits referred to in market, adequate and reasonable means do not exist for ascertaining the Eurodollar Rate for such paragraph is being provided in the relevant amounts Interest Period; or for the relevant maturities for purposes of determining rates of interest for LIBO Rate Loans as provided herein; or40 XXXXXX/SYGNET OPERATING CREDIT AGREEMENT (b) if the LIBO Rate for any Currency is being determined under the second paragraph of the definition of “LIBO Rate” and the Majority Required Lenders determine (or any Lender that has outstanding a Competitive Bid with respect to a Competitive LIBOR Loan, determines), which determination shall be conclusive, ) and notify (or notifies, as the case may be) the Administrative Agent that the relevant rates of interest referred to in the second paragraph of the definition of “LIBO Rate” do Adjusted Eurodollar Rate will not adequately cover and fairly reflect the cost to the Lenders of funding Eurodollar Rate Borrowings for such Lenders (or such quoting Lender) of making or maintaining its LIBO Rate Loans in such CurrencyInterest Period; then the Administrative Agent shall give the Company and each Lender Borrower prompt notice thereofthereof specifying the relevant amounts or periods, and so long as such condition remains in effect, the Lenders (or such quoting Lender) shall be under no obligation to make fund additional LIBO Eurodollar Rate Loans in such CurrencyBorrowings, to Continue LIBO continue Eurodollar Rate Loans in such Currency Borrowings, or to Convert Loans convert Base Rate Borrowings into Eurodollar Rate Borrowings, and Borrower shall, on the last day(s) of another Type the then current Interest Period(s) for the outstanding Eurodollar Rate Borrowings, either prepay such Borrowings or Currency convert such Borrowings into LIBO Base Rate Loans Borrowings in such Currencyaccordance with the terms of this Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Dobson Communications Corp), Credit Agreement (Dobson Sygnet Communications Co)

Limitation on Types of Loans. Anything herein If on or prior to the contrary notwithstandingfirst day of any Interest Period for any Fixed Rate Loan: (a) if the LIBO Rate for any Currency is to be determined under the second paragraph of the definition of “LIBO Rate” and the Administrative Agent reasonably determines (which determination shall be conclusive) that no quotation from any Reference Lender by reason of interest rates for circumstances affecting the relevant deposits referred to in market, adequate and reasonable means do not exist for ascertaining the Interbank Offered Rate for such paragraph is being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for LIBO Rate Loans as provided hereinInterest Period; or (b) if the LIBO Rate for any Currency is being determined under the second paragraph of the definition of “LIBO Rate” and the Majority Required Lenders determine (or any Lender that has outstanding a Competitive Bid with respect to a Competitive LIBOR Loan, determines), which determination shall be conclusive, ) and notify (or notifies, as the case may be) the Administrative Agent that the relevant rates of interest referred to in the second paragraph of the definition of “LIBO Rate” do Eurodollar Rate or FF LIBOR Rate will not adequately cover and fairly reflect the cost to the Lenders of funding such Lenders (or such quoting Lender) of making or maintaining its LIBO Fixed Rate Loans in for such CurrencyInterest Period; then the Administrative Agent shall give the Company Borrower prompt written notice thereof specifying the relevant Type of Loans and each Lender prompt notice thereofthe relevant amounts or periods, and so long as such condition remains in effect, the Lenders (or such quoting Lender) shall be under no obligation to make additional LIBO Rate Loans in of such CurrencyType, to Continue LIBO Rate Loans in of such Currency Type, or to Convert Loans of any other Type into Loans of such Type and the Borrower shall, on the last day of the then current Interest Period for each outstanding Loan of the affected Type, (i) with respect to FF LIBOR Rate Loans, repay such Loan and (ii) with respect to Eurodollar Rate Loans, either prepay such Loan or Convert such Loan into another Type or Currency into LIBO Rate Loans of Loan in such Currencyaccordance with the terms of this Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Bolle Inc), Credit Agreement (Bec Group Inc)

Limitation on Types of Loans. Anything herein If on or prior to the contrary notwithstandingfirst day of any Interest Period for any LIBOR Loan: (a) if Administrative Agent determines, in good faith (which determination shall be conclusive), that by reason of circumstances affecting the LIBO relevant market, adequate and reasonable means do not exist for ascertaining the LIBOR Rate for any Currency is to be determined under such Interest Period for the second paragraph of LIBOR Loan requested; or (b) the definition of “LIBO Rate” and the Administrative Agent determines Required Lenders determine (which determination shall be conclusive) and notify Administrative Agent that no quotation from any Reference Lender the Adjusted LIBOR Rate will not adequately and fairly reflect the cost to the Lenders of interest rates funding LIBOR Loans for the relevant deposits referred to in such paragraph is being provided in Interest Period; then Administrative Agent shall give Borrower prompt notice thereof specifying the relevant amounts or for the relevant maturities for purposes of determining rates of interest for LIBO Rate Loans as provided herein; or (b) if the LIBO Rate for any Currency is being determined under the second paragraph of the definition of “LIBO Rate” and the Majority Lenders determine (or any Lender that has outstanding a Competitive Bid with respect to a Competitive LIBOR Loan, determines), which determination shall be conclusive, and notify (or notifies, as the case may be) the Administrative Agent that the relevant rates of interest referred to in the second paragraph of the definition of “LIBO Rate” do not adequately cover the cost to such Lenders (or such quoting Lender) of making or maintaining its LIBO Rate Loans in such Currency; then the Administrative Agent shall give the Company and each Lender prompt notice thereofperiods, and so long as such condition remains in effect, the Lenders (or such quoting Lender) shall be under no obligation to make additional LIBO Rate Loans in such CurrencyLIBOR Loans, to Continue LIBO Rate Loans in such Currency LIBOR Loans, or to Convert Loans of any other Type of Loans into LIBOR Loans and Borrower or the applicable Qualified Borrower, as the case may be, shall, on the last day(s) of the then current Interest Period(s) for the outstanding LIBOR Loans either prepay such Loans or Convert such Loans into another Type or Currency into LIBO Rate Loans of Loan in such Currencyaccordance with the terms of this Credit Agreement.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Amb Property Lp), Revolving Credit Agreement (Amb Property Corp)

Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of the Libor Rate for any Interest Period: (a) if the LIBO Rate for any Currency is to be determined under the second paragraph of the definition of “LIBO Rate” and the Administrative Agent reasonably determines (which determination shall be conclusive) that no quotation from any Reference Lender quotations of interest rates for the relevant deposits referred to in such paragraph is the definition of Libor Rate are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for LIBO Rate Loans as provided hereinLIBOR-based Loans; or (b) if the LIBO Rate for any Currency is being determined under the second paragraph of the definition of “LIBO Rate” and the Majority Lenders determine (or any Lender that has outstanding a Competitive Bid with respect to a Competitive LIBOR Loan, determines), which determination shall be conclusivereasonably determine, and notify (or notifies, as the case may be) the Administrative Agent that the relevant rates of interest referred to in the second paragraph of the definition of “LIBO Rate” do Libor Rate are not adequately likely adequate to cover the cost to such Lenders (or such quoting Lender) of making or maintaining its LIBO Rate LIBOR-based Loans in for such CurrencyInterest Period; then the Administrative Agent shall give the Company Lead Borrower and each Lender prompt notice thereofthereof and, and so long as such condition remains in effect, the Lenders (or such quoting Lender) shall be under no obligation to make additional LIBO Rate Loans in such CurrencyLIBOR-based Loans, to Continue LIBO Rate LIBOR-based Loans in such Currency or to Convert Loans of another any other Type into LIBOR-based Loans, and Borrower shall, on the last day(s) of the then current Interest Period(s) for the outstanding LIBOR-based Loans, either prepay such Loans or Currency such Loans shall be automatically Converted into LIBO Base Rate Loans in such CurrencyLoans.

Appears in 2 contracts

Samples: Acquisition and Project Loan Agreement (Acadia Realty Trust), Acquisition and Project Loan Agreement (Acadia Realty Trust)

Limitation on Types of Loans. Anything herein to the contrary notwithstanding: (a) , if on or prior to the LIBO Rate determination of LIBOR for any Currency is to be determined under Interest Period the second paragraph of the definition of “LIBO Rate” and the Administrative Agent Lender determines (which determination shall be conclusive) that no quotation from any Reference Lender that: (a) quotations of interest rates for the relevant deposits referred to in such paragraph is the definition of "LIBOR" are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for LIBO Rate LIBOR Loans as provided herein; or (b) if the LIBO Rate for any Currency is being determined under the second paragraph of the definition of “LIBO Rate” and the Majority Lenders determine (or any Lender that has outstanding a Competitive Bid with respect to a Competitive LIBOR Loan, determines), which determination shall be conclusive, and notify (or notifies, as the case may be) the Administrative Agent that the relevant rates of interest referred to in the second paragraph of the definition of “LIBO Rate” do LIBOR in this Agreement upon the basis of which the rate of interest for LIBOR Loans for such Interest Period is to be determined are not likely to adequately cover the cost to such Lenders (or such quoting Lender) the Lender of making or maintaining its LIBO Rate LIBOR Loans in for such CurrencyInterest Period; then the Administrative Agent Lender shall give the Company and each Lender prompt notice thereof, and so long as such condition remains in effect, the Lenders (or such quoting Lender) Lender shall be under no obligation to make additional LIBO LIBOR Loans, to Continue LIBOR Loans or to Convert Base Rate Loans into LIBOR Loans, and the Company shall, on the last day(s) of the then-current Interest Period(s) for the outstanding LIBOR Loans, either prepay such Loans or Convert such Loans into Base Rate Loans in such Currency, to Continue LIBO Rate Loans in such Currency or to Convert Loans of another Type or Currency into LIBO Rate Loans in such Currencyaccordance with Section 2.6.

Appears in 2 contracts

Samples: Credit Agreement (Docucorp Inc), Credit Agreement (Docucorp Inc)

Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of the Libor Rate for any Interest Period for any LIBOR- based Loan: (a) if the LIBO Rate for any Currency is to be determined under the second paragraph of the definition of “LIBO Rate” and the Administrative Agent determines (determines, which determination shall be conclusive) , that no quotation from any Reference Lender quotations of interest rates for the relevant deposits referred to in such paragraph is the definition of Libor Rate are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for LIBO Rate LIBOR-based Loans as provided herein; or (b) if the LIBO Rate for any Currency is being determined under the second paragraph of the definition of “LIBO Rate” and the Majority Lenders determine (or any Lender that has outstanding a Competitive Bid with respect to a Competitive LIBOR Loan, determines)determine, which determination shall be conclusive, and notify (or notifies, as the case may be) the Administrative Agent that the relevant rates of interest referred to in the second paragraph of the definition of “LIBO Rate” do Libor Rate upon the basis of which the rate of interest for LIBOR-based Loans for such Interest Period is to be determined are not likely adequately to cover the cost to such Lenders (or such quoting Lender) of making or maintaining its LIBO Rate LIBOR-based Loans in for such CurrencyInterest Period; then the Administrative Agent shall give the Company Borrower and each Lender prompt notice thereofthereof and, and so long as such condition remains in effect, the Lenders (or such quoting Lender) shall be under no obligation to make additional LIBO Rate Loans in such CurrencyLIBOR-based Loans, to Continue LIBO Rate LIBOR-based Loans in such Currency or to Convert Loans of another any other Type into LIBOR-based Loans, and Borrower shall, on the last day(s) of the then current Interest Period(s) for the outstanding LIBOR-based Loans, either prepay such Loans or Currency such Loans shall be automatically Converted into LIBO Base Rate Loans in such CurrencyLoans.

Appears in 1 contract

Samples: Construction Loan Agreement

Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of the LIBOR Rate for any Interest Period for any LIBOR-based Loan: (a) if the LIBO Rate for any Currency is to be determined under the second paragraph of the definition of “LIBO Rate” and the Administrative Agent determines (in good faith determines, which determination shall be conclusive) , that no quotation from any Reference Lender quotations of interest rates for the relevant deposits referred to in such paragraph is the definition of LIBOR Rate are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for LIBO Rate LIBOR-based Loans as provided herein; or (b) if the LIBO Rate for any Currency is being determined under the second paragraph of the definition of “LIBO Rate” and the Majority Lenders determine (or any Lender that has outstanding a Competitive Bid with respect to a Competitive LIBOR Loan, determines)determine, which determination shall be conclusive, and notify (or notifies, as the case may be) the Administrative Agent that the relevant rates of interest referred to in the second paragraph of the definition of “LIBO Rate” do LIBOR Rate upon the basis of which the rate of interest for LIBOR-based Loans for such Interest Period is to be determined are not likely adequately to cover the cost to such Lenders (or such quoting Lender) of making or maintaining its LIBO Rate LIBOR-based Loans in for such CurrencyInterest Period; then the Administrative Agent shall give the Company Borrower and each Lender prompt notice thereofthereof and, and so long as such condition remains in effect, the Lenders (or such quoting Lender) shall be under no obligation to make additional LIBO Rate Loans in such CurrencyLIBOR-based Loans, to Continue LIBO Rate LIBOR-based Loans in such Currency or to Convert Loans of another any other Type into LIBOR-based Loans, and Borrower shall, on the last day(s) of the then current Interest Period(s) for the outstanding LIBOR-based Loans, either prepay such Loans or Currency such Loans shall be automatically Converted into LIBO Base Rate Loans in such CurrencyLoans.

Appears in 1 contract

Samples: Loan Agreement (Glimcher Realty Trust)

Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of a LIBOR Rate for any Interest Period: (a1) if the LIBO Rate for Applicable Agent or any Currency is to be determined under the second paragraph of the definition of “LIBO Rate” and the Administrative Agent Lenders determines (which determination shall be conclusive) that no quotation from any Reference Lender quotations of interest rates for the relevant deposits referred to in such paragraph is the definition of "LIBOR 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 LIBO LIBOR Rate Loans as provided hereinin this Agreement; or (b2) if the LIBO Rate for any Currency is being determined under the second paragraph of the definition of “LIBO Rate” and the Majority Lenders determine Any Lender determines (or any Lender that has outstanding a Competitive Bid with respect to a Competitive LIBOR Loan, determines), which determination shall be conclusive, and notify (or notifies, as the case may be) the Administrative Agent that the relevant rates of interest referred to in the second paragraph of the definition of “LIBO "LIBOR Rate" in Section 1.01 hereof upon the basis of which the rate of interest for LIBOR Rate Loans for such Interest Period are to be determined do not adequately cover the cost to such Lenders (or such quoting Lender) Lender of making or maintaining its LIBO such LIBOR Rate Loans in for such CurrencyInterest Period; then the Administrative Applicable Agent shall give the Company and each Lender Borrower prompt notice thereof, and so long as such condition remains in effect, the such Lenders (or such quoting Lender) shall be under no obligation to make additional LIBO such LIBOR Rate Loans, convert Prime Rate Loans in into such Currency, to Continue LIBO LIBOR Rate Loans in or continue such Currency or to Convert Loans of another Type or Currency into LIBO LIBOR Rate Loans and the Borrower shall, on the last day(s) of the then current Interest Period(s) for such outstanding LIBOR Rate Loans, either prepay such LIBOR Rate Loans or convert such LIBOR Rate Loans into a Prime Rate Loan in such Currency.accordance with Section 2.06. 77

Appears in 1 contract

Samples: Credit Agreement (JLM Industries Inc)

Limitation on Types of Loans. (a) Anything herein to the contrary notwithstanding: (a) , if on or prior to the LIBO determination of any LIBOR Rate for any Currency is to be determined under Interest Period, the second paragraph of the definition of “LIBO Rate” and the Administrative Agent determines (in good faith, which determination shall be conclusive) , that no quotation from any Reference Lender quotations of interest rates for the relevant deposits referred to in such paragraph is the definition of “LIBOR Rate” are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for LIBO Rate LIBOR Loans as provided herein; or or (b) if the LIBO Rate for any Currency is being determined under the second paragraph of the definition of “LIBO Rate” and the Majority Required Lenders determine (or any Lender that has outstanding a Competitive Bid with respect to a Competitive LIBOR Loan, determines)in good faith, which determination shall be conclusive, and notify (or notifies, as the case may be) the Administrative Agent that the relevant rates of interest referred to in the second paragraph of the definition of “LIBO LIBOR Rate” do upon the basis of which the rate of interest for LIBOR Loans for such Interest Period is to be determined are not likely to cover adequately cover the cost to such Lenders (or such quoting Lender) of making or maintaining its LIBO Rate LIBOR Loans in for such CurrencyInterest Period; then the Administrative Agent shall give the Company Borrowers’ Representative and each Lender prompt notice thereof, and so long as such condition remains in effect, the Lenders (or such quoting Lender) shall be under no obligation to make additional LIBO LIBOR Loans, to continue LIBOR Loans or to convert Base Rate Loans into LIBOR Loans, and the Borrowers shall, on the last day(s) of the then current Interest Period(s) for the outstanding LIBOR Loans, either prepay such Loans or such Loans shall be converted into Base Rate Loans in such Currency, to Continue LIBO Rate Loans in such Currency or to Convert Loans of another Type or Currency into LIBO Rate Loans in such Currencyaccordance with Section 3.4.8 hereof.

Appears in 1 contract

Samples: Credit Agreement (National Rv Holdings Inc)

Limitation on Types of Loans. Anything herein to the contrary notwithstanding: (a) if , if, on or prior to the LIBO Rate determination of an interest rate for any Currency is to be determined under the second paragraph of the definition of “LIBO Rate” and the Administrative Agent determines LIBOR Loans for any Interest Period therefor, Requisite Lenders determine (which determination shall be conclusive) , provided that no quotation from any Reference Lender of interest rates for the relevant deposits referred to in such paragraph is being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for LIBO Rate Loans as provided herein; or (b) if the LIBO Rate for any Currency is being determined under the second paragraph of the definition of “LIBO Rate” and the Majority Lenders determine (or any Lender that has outstanding a Competitive Bid with respect to a Competitive LIBOR Loan, determines), which determination shall be conclusive, and notify (or notifies, as the case may bemade in good faith upon a reasonable basis) the Administrative Agent that the relevant rates of interest referred to in the second paragraph of the definition of “LIBO Rate” "LIBOR" upon the basis of which the rate of interest on any LIBOR Loans for such period is determined do not adequately cover accurately reflect the cost to such Requisite Lenders (or such quoting Lender) of making or maintaining its LIBO Rate such Loans in for such Currency; period, then the Administrative Agent shall give the Company and each Lender Borrower prompt notice thereofthereof (and shall thereafter give Borrower prompt notice of the cessation, if any, of such condition), and so long as such condition remains in effect, the Lenders (or such quoting Lender) shall be under no obligation to make additional LIBO LIBOR Loans or to convert Base Rate Loans into LIBOR Loans and Borrower shall, on the last day(s) of the then current Interest Period(s) for the outstanding LIBOR Loans either prepay such LIBOR Loans in accordance with Section 2.2(a) hereof (subject to SECTION 2.2(b) hereof) or convert such LIBOR Loans into Base Rate Loans in such Currency, to Continue LIBO Rate Loans in such Currency or to Convert Loans of another Type or Currency into LIBO Rate Loans in such Currencyaccordance with SECTION 2.1(i) hereof.

Appears in 1 contract

Samples: Warehousing Credit Agreement (Leasing Solutions 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) if the LIBO Rate for any Currency is to be determined under the second paragraph of the definition of “LIBO Rate” and the Administrative Agent determines Majority Banks determine (which determination shall be conclusiveconclusive absent manifest error) that no quotation from that, by reason of any Reference Lender event affecting the money markets in the United States or the London interbank market, quotations of interest rates for the relevant deposits referred to in such paragraph is are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates the rate of interest for LIBO Rate such Loans as provided herein; under this Agreement, or (b) if the LIBO Rate for any Currency is being determined under the second paragraph of the definition of “LIBO Rate” and the Majority Lenders Banks determine (or any Lender that has outstanding a Competitive Bid with respect to a Competitive LIBOR Loan, determines), which determination shall be conclusive, and notify (or notifies, as the case may beconclusive absent manifest error) the Administrative Agent that the relevant rates of interest referred to in the second paragraph of the definition of “LIBO RateLIBORin Article 1 hereof upon the basis of which the rate of interest on any LIBOR Loans for such period is determined do not adequately cover accurately reflect the cost to such Lenders (or such quoting Lender) the Banks of making or maintaining its LIBO Rate such Loans in for such Currencyperiod; then the Administrative Agent shall give the Company Borrower and each Lender Bank prompt notice thereofthereof (and shall thereafter give the Borrower and each Bank prompt notice of the cessation, if any, of such condition), and so long as such condition remains in effect, the Lenders (or such quoting Lender) Banks shall be under no obligation to make additional LIBO LIBOR Loans or to convert Base Rate Loans into LIBOR Loans and the Borrower shall, on the last day(s) of the then current Interest Period(s) for the outstanding LIBOR Loans either prepay such LIBOR Loans in accordance with Section 2.9 hereof or convert such LIBOR Loans into Base Rate Loans in such Currency, to Continue LIBO Rate Loans in such Currency or to Convert Loans of another Type or Currency into LIBO Rate Loans in such Currencyaccordance with Section 2.8 hereof.

Appears in 1 contract

Samples: Credit 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 any LIBOR Base Rate for any Interest Period: (ai) if the LIBO Rate for any Currency is to be determined under the second paragraph of the definition of “LIBO Rate” and the Administrative Agent determines (determines, which determination shall be conclusive) , that no quotation from any Reference Lender quotations of interest rates for the relevant deposits referred to in such paragraph is the definition of "LIBOR Base Rate" in Section 1.01 are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for LIBO Rate LIBOR Loans as provided herein; or (bii) if the LIBO Rate for any Currency is being determined under the second paragraph of the definition of “LIBO Rate” and related Loans are Revolving Credit Loans, the Majority Revolving Credit Lenders determine (or any Lender that has outstanding a Competitive Bid with respect to a Competitive LIBOR Loanor, determines)if the related Loans are Term Loans, the Majority Term Lenders determine, which determination shall be conclusive, and notify (or notifies, as the case may be) the Administrative Agent that the relevant rates of interest referred to in the second paragraph of the definition of “LIBO "LIBOR Base Rate” do " in Section 1.01 upon the basis of which the rate of interest for LIBOR Loans for such Interest Period is to be determined are not likely adequately to cover the cost to such the applicable Lenders (or such quoting Lender) of making or maintaining its LIBO Rate LIBOR Loans in for such Currency; Interest Period, then the Administrative Agent shall give the Company Borrower and each Lender prompt notice thereof, and so long as such condition remains in effect, the affected Lenders (or such quoting Lender) shall be under no obligation to make additional LIBO LIBOR Loans, to Continue LIBOR Loans or to Convert Alternate Base Rate Loans into LIBOR Loans and Borrower shall, on the last day(s) of the then current Interest Period(s) for the outstanding LIBOR Loans, either prepay such Loans or Convert such Loans into Alternate Base Rate Loans in such Currency, to Continue LIBO Rate Loans in such Currency or to Convert Loans of another Type or Currency into LIBO Rate Loans in such Currencyaccordance with Section 2.09.

Appears in 1 contract

Samples: Credit Agreement (Imco Recycling Inc)

Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of any LIBO Rate for any Interest Period: (a) if the LIBO Rate for any Currency is to be determined under the second paragraph of the definition of “LIBO Rate” and the Administrative Agent determines (determines, which determination shall be conclusive) , that no quotation from any Reference Lender quotations of interest rates for the relevant deposits referred to in such paragraph is the definition of "LIBO Rate" in Section 1.1 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for LIBO Rate LIBOR Loans as provided herein; or (b) if the LIBO Rate for any Currency is being determined under the second paragraph of the definition of “LIBO Rate” and the Majority Required Lenders determine (or any Lender that has outstanding a Competitive Bid with respect to a Competitive LIBOR Loan, determines), which determination shall be conclusive, and notify (or notifies, as the case may be) the Administrative Agent that the relevant rates of interest referred to in the second paragraph of the definition of "LIBO Rate" in Section 1.1 hereof upon the basis of which the rate of interest for LIBOR Loans for such Interest Period is to be determined do not adequately cover and accurately reflect the cost to such Lenders (or such quoting Lender) of making or maintaining its LIBO Rate LIBOR Loans in for such CurrencyInterest Period; then the Administrative Agent shall give the Company and each Lender prompt notice thereofthereof and, and so long as such condition remains in effect, the Lenders (or such quoting Lender) shall be under no obligation to make additional LIBO LIBOR Loans, to Continue LIBOR Loans or to Convert Prime Rate Loans into LIBOR Loans, and the Company shall, on the last day(s) of the then current Interest Period(s) for the outstanding LIBOR Loans, either prepay such Loans or Convert such Loans into Prime Rate Loans in such Currency, to Continue LIBO Rate Loans in such Currency or to Convert Loans of another Type or Currency into LIBO Rate Loans in such Currencyaccordance with Section 2.8 hereof.

Appears in 1 contract

Samples: Credit Agreement (Genzyme Corp)

AutoNDA by SimpleDocs

Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of the Libor Rate for any Interest Period for any LIBOR-based Loan: (a) if the LIBO Rate for any Currency is to be determined under the second paragraph of the definition of “LIBO Rate” and the Administrative Agent determines (determines, which determination shall be conclusive) , that no quotation from any Reference Lender quotations of interest rates for the relevant deposits referred to in such paragraph is the definition of Libor Rate are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for LIBO Rate LIBOR-based Loans as provided herein; or (b) if the LIBO Rate for any Currency is being determined under the second paragraph of the definition of “LIBO Rate” and the Majority Lenders determine (or any Lender that has outstanding a Competitive Bid with respect to a Competitive LIBOR Loan, determines)determine, which determination shall be conclusive, and notify (or notifies, as the case may be) the Administrative Agent that the relevant rates of interest referred to in the second paragraph of the definition of “LIBO Rate” do Libor Rate upon the basis of which the rate of interest for LIBOR-based Loans for such Interest Period is to be determined are not likely adequately to cover the cost to such Lenders (or such quoting Lender) of making or maintaining its LIBO Rate LIBOR-based Loans in for such CurrencyInterest Period; then the Administrative Agent shall give the Company Borrower and each Lender prompt notice thereofthereof and, and so long as such condition remains in effect, the Lenders (or such quoting Lender) shall be under no obligation to make additional LIBO Rate Loans in such CurrencyLIBOR-based Loans, to Continue LIBO Rate LIBOR-based Loans in such Currency or to Convert Loans of another any other Type into LIBOR-based Loans, and Borrower shall, on the last day(s) of the then current Interest Period(s) for the outstanding LIBOR-based Loans, either prepay such Loans or Currency such Loans shall be automatically Converted into LIBO Base Rate Loans in such CurrencyLoans.

Appears in 1 contract

Samples: Construction Loan Agreement (Maguire Properties Inc)

Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of the LIBOR Rate for any Interest Period for any LIBOR Loan: (ai) if the LIBO Rate for any Currency is to be determined under the second paragraph of the definition of “LIBO Rate” and the Administrative Agent determines (determines, which determination shall be conclusive) conclusive absent manifest error, that no quotation from any Reference Lender quotations of interest rates for the relevant deposits referred to in such paragraph is the definition of LIBOR Rate are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for LIBO Rate LIBOR Loans as provided herein; or (b) if the LIBO Rate for any Currency is being determined under the second paragraph of the definition of “LIBO Rate” and the Majority Lenders determine (or any Lender that has outstanding a Competitive Bid with respect to a Competitive LIBOR Loan, determines), which determination shall be conclusive, and notify (or notifies, as the case may beii) the Administrative Agent reasonably determines that the relevant rates of interest referred to in the second paragraph of the definition of “LIBO Rate” do LIBOR Rate upon the basis of which the rate of interest for LIBOR Loans for such Interest Period is to be determined are not likely adequately to cover the cost to such the Lenders (or such quoting Lender) of making or maintaining its LIBO Rate LIBOR Loans in for such CurrencyInterest Period; then the Administrative Agent shall give the Company Borrower and each Lender prompt notice thereofthereof and, and so long as such condition remains in effect, the Lenders (or such quoting Lender) shall be under no obligation to make additional LIBO Rate Loans in such CurrencyLIBOR Loans, to Continue LIBO Rate LIBOR Loans in such Currency or to Convert Loans of another any other Type into LIBOR Loans, and Borrower shall, on the last day(s) of the then current Interest Period(s) for the outstanding LIBOR Loans, either prepay such Loans or Currency such Loans shall be automatically Converted into LIBO Base Rate Loans in such CurrencyLoans.

Appears in 1 contract

Samples: Loan Agreement (MPG Office Trust, Inc.)

Limitation on Types of Loans. Anything herein to the ---------------------------- contrary notwithstanding, if, on or prior to the determination of any LIBOR Base Rate for any Interest Period: (ai) if the LIBO Rate for any Currency is to be determined under the second paragraph of the definition of “LIBO Rate” and the Administrative Agent determines (determines, which determination shall be conclusive) , absent manifest error, that no quotation from any Reference Lender quotations of interest rates for the relevant deposits referred to in such paragraph is the definition of "LIBOR Base Rate" in Section 1.0 1 are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for LIBO Rate LIBOR Loans as provided herein; or (bii) if the LIBO Rate for any Currency is being determined under the second paragraph of the definition of “LIBO Rate” and the Majority Lenders determine (or any Lender that has outstanding a Competitive Bid with respect to a Competitive LIBOR Loan, determines)determine, which determination shall be conclusive, and notify (or notifies, as the case may be) the Administrative Agent that the relevant rates of interest referred to in the second paragraph of the definition of “LIBO "LIBOR Base Rate” do " in Section 1.01 upon the basis of which the rate of interest for LIBOR Loans for such Interest Period is to be determined are not adequately likely adequate to cover the cost to such the applicable Lenders (or such quoting Lender) of making or maintaining its LIBO Rate LIBOR Loans in for such Currency; Interest Period, then the Administrative Agent shall give the Company Borrower and each Lender prompt notice thereof, and so long as such condition remains in effect, the affected Lenders (or such quoting Lender) shall be under no obligation to make additional LIBO Rate Loans in such CurrencyLIBOR Loans, to Continue LIBO Rate LIBOR Loans in such Currency or to Convert ABR Loans into LIBOR Loans and Borrower shall, on the last day(s) of another Type the then current Interest Period(s) for the outstanding LE30R Loans, either prepay such Loans or Currency Convert such Loans into LIBO Rate ABR Loans in such Currencyaccordance with Section 2.09.

Appears in 1 contract

Samples: Senior Subordinated Credit Agreement (Princess Beverly Coal Holding Co Inc)

Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of the LIBOR Interest Rate for any Interest Period: (a1) if the LIBO Rate for any Currency is to be determined under the second paragraph of the definition of “LIBO Rate” and the Administrative Agent Bank determines (which determination shall be conclusive) that no quotation from any Reference Lender quotations of interest rates for the relevant deposits referred to in such paragraph is the definition of "LIBOR Interest 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 LIBO Rate LIBOR Loans as provided hereinin this Agreement; or (b2) if the LIBO Rate for any Currency is being determined under the second paragraph of the definition of “LIBO Rate” and the Majority Lenders determine Bank determines (or any Lender that has outstanding a Competitive Bid with respect to a Competitive LIBOR Loan, determines), which determination shall be conclusive, and notify (or notifies, as the case may be) the Administrative Agent that the relevant rates of interest referred to in the second paragraph of the definition of “LIBO "LIBOR Interest Rate" in Section 1.01 hereof upon the basis of which the rate of interest for LIBOR Loans for such Interest Period is to be determined do not adequately cover the cost to such Lenders (or such quoting Lender) the Bank of making or maintaining its LIBO Rate such LIBOR Loans in for such CurrencyInterest Period; then the Administrative Agent Bank shall give the Company and each Lender Borrower prompt notice thereof, and so long as such condition remains in effect, the Lenders (or such quoting Lender) Bank shall be under no obligation to make additional LIBO Convert Prime Rate Loans into LIBOR Loans, or Continue LIBOR Loans, and the Borrower shall, on the last day(s) of the then current Interest Period(s) for the outstanding LIBOR Loans, either prepay such LIBOR Loans or Convert such LIBOR Loans into a Prime Rate Loan in such Currency, to Continue LIBO Rate Loans in such Currency or to Convert Loans of another Type or Currency into LIBO Rate Loans in such Currencyaccordance with Section 2.10.

Appears in 1 contract

Samples: Credit Agreement (Unitel Video Inc/De)

Limitation on Types of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of the LIBOR Interest Rate for any Interest Period: (a1) if the LIBO Rate for any Currency is to be determined under the second paragraph of the definition of “LIBO Rate” and the Administrative Agent determines (which determination shall be conclusive) that no quotation from any Reference Lender quotations of interest rates for the relevant deposits referred to in such paragraph is the definition of "LIBOR Interest 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 LIBO Rate LIBOR Loans as provided hereinin this Agreement; or (b2) if the LIBO Rate for any Currency is being determined under the second paragraph of the definition of “LIBO Rate” and the Majority Lenders Required Banks determine (or any Lender that has outstanding a Competitive Bid with respect to a Competitive LIBOR Loan, determines), which determination shall be conclusive, and notify (or notifies, as the case may be) the Administrative Agent that the relevant rates of interest referred to in the second paragraph of the definition of “LIBO "LIBOR Interest Rate" in Section 1.01 hereof upon the basis of which the rate of interest for LIBOR Loans for such Interest Period is to be determined do not adequately cover the cost to such Lenders (or such quoting Lender) the Banks of making or maintaining its LIBO Rate such LIBOR Loans in for such CurrencyInterest Period; then the Administrative Agent shall give the Company and each Lender Borrower prompt notice thereof, and so long as such condition remains in effect, the Lenders (or such quoting Lender) Banks shall be under no obligation to make additional LIBO LIBOR Loans, Convert Base Rate Loans into LIBOR Loans or Continue LIBOR Loans and the Borrower shall, on the last day(s) of the then current Interest Period(s) for the outstanding LIBOR Loans, either prepay such LIBOR Loans or Convert such LIBOR Loans into a Base Rate Loan in such Currency, to Continue LIBO Rate Loans in such Currency or to Convert Loans of another Type or Currency into LIBO Rate Loans in such Currencyaccordance with Section 2.14.

Appears in 1 contract

Samples: Credit Agreement (Boundless Corp)

Limitation on Types of Loans. Anything herein to the contrary notwithstanding: (a) if the LIBO Rate for any Currency is to be determined under the second -34- paragraph of the definition of "LIBO Rate" and the Administrative Agent determines (which determination shall be conclusive) that no quotation from any Reference Lender of interest rates for the relevant deposits referred to in such paragraph is are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for LIBO Rate Loans as provided herein; or (b) if the LIBO Rate for any Currency is being determined under the second paragraph of the definition of "LIBO Rate" and the Majority Lenders determine (or any Lender that has outstanding a Competitive Bid with respect to a Competitive LIBOR Loan, determines), which determination shall be conclusive, and notify (or notifies, as the case may be) the Administrative Agent that the relevant rates of interest referred to in the second paragraph of the definition of "LIBO Rate" do not adequately cover the cost to such Lenders (or such quoting Lender) of making or maintaining its LIBO Rate Loans in such Currency; then the Administrative Agent shall give the Company and each Lender prompt notice thereof, and so long as such condition remains in effect, the Lenders (or such quoting Lender) shall be under no obligation to make additional LIBO Rate Loans in such Currency, to Continue LIBO Rate Loans in such Currency or to Convert Loans of another Type or Currency into LIBO Rate Loans in such Currency.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Newell Rubbermaid Inc)

Limitation on Types of Loans. Anything herein If on or prior to the contrary notwithstandingfirst day of any Interest Period for any LIBOR Balance or any Floating LIBOR Rate Balance: (a) if the LIBO Rate for any Currency is to be determined under the second paragraph of the definition of “LIBO Rate” and the Administrative Agent Lender determines (which determination shall be conclusive) that no quotation from any Reference Lender by reason of interest rates for circumstances affecting the relevant deposits referred market, adequate and reasonable means do not exist for ascertaining the LIBOR Rate applicable to in such paragraph is being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for LIBO Rate Loans as provided hereinBalance; or (b) if the LIBO Rate for any Currency is being determined under the second paragraph of the definition of “LIBO Rate” and the Majority Lenders determine Lender determines (or any Lender that has outstanding a Competitive Bid with respect to a Competitive LIBOR Loan, determines), which determination shall be conclusive, and notify (or notifies, as the case may be) the Administrative Agent that the relevant rates of interest referred to in the second paragraph of the definition of “LIBO Rate” do Adjusted LIBOR Rate will not adequately cover and fairly reflect the cost to Lender of funding such Lenders (LIBOR Balances or such quoting Lender) of making or maintaining its LIBO Floating LIBOR Rate Loans in such CurrencyBalances; then the Administrative Agent Lender shall give the Company and each Lender Borrowers prompt notice thereofthereof specifying the relevant Type of loans and the relevant amounts or periods, and so long as such condition remains in effect, the Lenders (or such quoting Lender) Lender shall be under no obligation to make additional LIBO Rate Loans in loans of such CurrencyType, to Continue LIBO Rate Loans in loans of such Currency Type, or to Convert Loans loans of any other Type into loans of such Type and Borrowers shall, on the last day(s) of the then current Interest Period(s) for the outstanding loans of the affected Type, either prepay such loans or Convert such loans into another Type or Currency into LIBO Rate Loans of loan in such Currencyaccordance with the terms of this Agreement.

Appears in 1 contract

Samples: Loan Agreement (Ultrak Inc)

Limitation on Types of Loans. Anything herein If on or prior to the contrary notwithstandingfirst day of any Interest Period for any LIBOR-Based Loan: (a) if the LIBO Rate for any Currency is to be determined under the second paragraph of the definition of “LIBO Rate” and the Administrative Agent reasonably determines (which determination shall be conclusiveconclusive absent manifest error) that no quotation from any Reference Lender by reason of interest rates for circumstances affecting the relevant deposits referred to in market, adequate and reasonable means do not exist for ascertaining the Eurodollar Rate or Offshore Rate, as the case may be, for such paragraph is being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for LIBO Rate Loans as provided hereinInterest Period; or (b) if the LIBO Rate for any Currency is being determined under the second paragraph of the definition of “LIBO Rate” and the Majority Lenders determine Agent reasonably determines (or any Lender that has outstanding a Competitive Bid with respect to a Competitive LIBOR Loan, determines), which determination shall be conclusive, and notify conclusive absent manifest error) that (or notifies, as the case may bei) the Administrative Agent that the relevant rates of interest referred to in the second paragraph of the definition of “LIBO Rate” do Eurodollar Rate will not adequately cover and fairly reflect the cost to such the Lenders (or such quoting Lender) of making or maintaining its LIBO Rate Loans in such CurrencyFacility of funding LIBOR-Based Loans for such Interest Period or (ii) that the Offshore Rate does not represent, in the case of any Revolving Credit Lender, the effective cost to such Revolving Credit Lender for deposits in the Applicable Currency of comparable amounts for the applicable Interest Period; then the Administrative Agent shall give the Company and each Lender Applicable Borrowers prompt notice thereofthereof specifying the relevant Type of Loans and the relevant amounts or periods, and so long as such condition remains in effect, the Lenders (in such Facility or such quoting Lender) Facilities shall be under no obligation to make additional LIBO Rate Loans in of such CurrencyType, to Continue LIBO Rate Loans in of such Currency Type, or to Convert Loans of any other Type into Loans of such Type and the Applicable 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 or Convert such Loans into another Type or Currency into LIBO Rate Loans of Loan in such Currencyaccordance with the terms of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Technitrol Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!