Mandatory Prepayment Upon Changes In Law. If there shall be any change in any applicable law or regulation, or the interpretation thereof by any judicial or regulatory authority, which, in the determination of the Bank, makes it unlawful for any Lender to make or maintain LIBOR Rate Loans, the Bank shall so advise the Company and thereupon (i) the Lenders shall be deemed to have made, as of the date of such notice, Base Rate Loans to the Company in an amount equal to the aggregate amount of the outstanding LIBOR Rate Loans, and (ii) the proceeds of said Base Rate Loans shall be deemed to have been applied to the prepayment in full of such outstanding LIBOR Rate Loans.
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Samples: Credit Agreement (Entergy Louisiana Inc), Credit Agreement (Entergy Louisiana Inc), Credit Agreement (System Energy Resources Inc)
Mandatory Prepayment Upon Changes In Law. If there shall be any change in any applicable law or regulation, or the interpretation thereof by any judicial or regulatory authority, which, in the determination of the Bank, makes it unlawful for any Lender to make or maintain LIBOR Rate Loans, the Bank shall so advise the Company Trust and thereupon (i) the Lenders shall be deemed to have made, as of the date of such notice, Base Rate Loans to the Company Trust in an amount equal to the aggregate amount of the outstanding LIBOR Rate Loans, and (ii) the proceeds of said Base Rate Loans shall be deemed to have been applied to the prepayment in full of such outstanding LIBOR Rate Loans.
Appears in 2 contracts
Samples: Credit Agreement (Entergy Arkansas Inc), Credit Agreement (Entergy Arkansas Inc)
Mandatory Prepayment Upon Changes In Law. If there shall be any change in any applicable law or regulation, or the interpretation thereof by any judicial or regulatory authority, which, in the determination of the Bank, makes it unlawful for any Lender to make or maintain LIBOR Rate Loans, the Bank shall so advise the Company and thereupon (i) the Lenders shall be deemed to have made, as of the date of such notice, Base Prime Rate Loans to the Company in an amount equal to the aggregate amount of the outstanding LIBOR Rate Loans, and (ii) the proceeds of said Base Prime Rate Loans shall be deemed to have been applied to the prepayment in full of such outstanding LIBOR Rate Loans.
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Mandatory Prepayment Upon Changes In Law. If there shall be any change in any applicable law or regulationregula tion, or the interpretation thereof by any judicial or regulatory authority, which, in the determination of the Bank, makes it unlawful for any Lender to make or maintain LIBOR Rate Loans, the Bank shall so advise the Company and thereupon (i) the Lenders shall be deemed to have made, as of the date of such notice, Base Prime Rate Loans to the Company in an amount equal to the aggregate amount of the outstanding LIBOR Rate Loans, and (ii) the proceeds of said Base Prime Rate Loans shall be deemed to have been applied to the prepayment in full of such outstanding LIBOR Rate Loans.
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Mandatory Prepayment Upon Changes In Law. If there shall be any change in any applicable law or regulation, or the interpretation thereof by any judicial or regulatory authority, which, in the determination of the Bank, makes it unlawful for any Lender to make or maintain LIBOR Rate Loans, the Bank shall so advise the Company Trust and thereupon (i) the Lenders shall be deemed to have made, as of the date of such notice, Base Prime Rate Loans to the Company Trust in an amount equal to the aggregate amount of the outstanding LIBOR Rate Loans, and (ii) the proceeds of said Base Prime Rate Loans shall be deemed to have been applied to the prepayment in full of such outstanding LIBOR Rate Loans.
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