Suspension of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of any interest rate for any LIBOR Loan or Index Rate Competitive Bid Loan for any Interest Period, the Administrative Agent or Required Lenders determine (which determination shall be conclusive absent manifest error) that:
(a) quotations of interest rates for the relevant deposits referred to in the definition of LIBOR Base 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 of interest for such LIBOR Loan or Index Rate Competitive Bid Loan as provided in this Agreement; or
(b) the relevant rates of interest referred to in the definition of "LIBOR Base Rate" in Section 1.01 hereof upon the basis of which the LIBOR Rate or the Index Rate for such Interest Period is to be determined do not adequately reflect the cost to the Lenders of making or maintaining such LIBOR Loan or Index Rate Competitive Bid Loan for such Interest Period; then the Administrative Agent shall give the Lenders and an Authorized Representative prompt notice thereof, and so long as such condition remains in effect, the Lenders shall be under no obligation to make such Index Rate Competitive Bid Loans or make or continue such LIBOR Loans that are subject to such condition, or to convert Loans into LIBOR Loans, and the Borrower shall on the last day(s) of the then current Interest Period(s) for outstanding LIBOR Loans convert such LIBOR Loans into Base Rate Loans. The Administrative Agent shall give the Lenders and an Authorized Representative notice describing any event or condition described in this Section 4.02 promptly following the determination by the Administrative Agent that the availability of LIBOR Loans or Index Rate Competitive Bid Loans is, or is to be, suspended as a result thereof.
Suspension of Loans. 38 5.3 Illegality.......................................................39 5.4 Compensation.....................................................39 5.5 Alternate Loan and Lender........................................39 5.6 Taxes............................................................40
Suspension of Loans. 24 3.3. Illegality. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 3.4. Compensation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 3.5. Alternate Loan and Lender . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 3.6. Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
Suspension of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of any interest rate for any Eurodollar Rate Loan for any Interest Period, the Agent determines (which determination made on a reasonable basis shall be conclusive absent manifest error) that:
(a) quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar 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 Eurodollar Rate Loan as provided in this Agreement; or
(b) the relevant rates of interest referred to in the definition of "Interbank Offered Rate" in SECTION 1.1 upon the basis of which the Eurodollar Rate for such Interest Period is to be determined do not adequately reflect the cost to the Lenders of making or maintaining such Eurodollar Rate Loan for such Interest Period; then the Agent shall give the Authorized Representative prompt notice thereof, and so long as such condition remains in effect, the Lenders shall be under no obligation to make Eurodollar Rate Loans that are subject to such condition, or to convert Base Rate Loans into Eurodollar Rate Loans, and the Borrower shall on the last day(s) of the then current Interest Period(s) for outstanding Eurodollar Rate Loans, as applicable, convert such Eurodollar Rate Loans into another Eurodollar Rate Loan if such Eurodollar Rate Loan is not subject to the same or similar condition, or Base Rate Loans, if available hereunder. The Agent shall give the Authorized Representative notice describing in reasonable detail any event or condition described in this SECTION 5.2 promptly following the determination by the Agent that the availability of Eurodollar Rate Loans is, or is to be, suspended as a result thereof.
Suspension of Loans. 44 4.03 Illegality . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45
Suspension of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of any interest rate for any Eurodollar Rate Loan for any Interest Period, the Lender determines (which determination made on a reasonable basis shall be conclusive absent manifest error) that:
(a) quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Rate" in Section 1.1 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining the rate of interest for such Eurodollar Rate Loan as provided in this Agreement; or
(b) the relevant rates of interest referred to in the definition of "Interbank Offered Rate" in Section 1.1 hereof upon the basis of which the Eurodollar Rate for such Interest Period is to be determined do not adequately reflect the cost to the Lender of making or maintaining such Eurodollar Rate Loan for such Interest Period;
Suspension of Loans. Anything herein to the contrary notwithstanding, if, on or prior to the determination of any interest rate for any Eurodollar Rate Loan for any Interest Period, the Agent determines (which determination made on a reasonable basis shall be conclusive absent manifest error) that:
(a) quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar 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 Eurodollar Rate Loan as provided in this Agreement; or
(b) the relevant rates of interest referred to in the definition of "Interbank Offered Rate" in Section 1.1 upon the basis of which the Eurodollar Rate for such Interest Period is to be determined do not adequately reflect the cost to the Lenders of making or maintaining such Eurodollar Rate Loan for such Interest Period; then the Agent shall give the Authorized Representative prompt notice thereof, and so long as such condition remains in effect, the Lenders shall be under no obligation to make Eurodollar Rate Loans that are subject to such condition, or to convert Base Rate Loans into Eurodollar
Suspension of Loans. If any stay, order, cease and desist order, injunction, temporary restraining order or similar judicial or nonjudicial sanction shall be issued limiting or otherwise materially adversely affecting any Timeshare Interest sales activities, other business operations in respect of the Eligible Projects, or the enforcement of the remedies of the Agent and the Banks hereunder or under the Security Documents, then, in such event, the Agent and the Banks shall have no obligation to make any Loans hereunder: (i) in respect of Eligible Consumer Loans from the sale of Timeshare Interests which are the subject of any stay, order, cease and desist order, injunction, temporary restraining order or similar judicial or nonjudicial sanction until the stay, order, cease and desist order, injunction, temporary restraining order or similar judicial or nonjudicial sanction has been lifted or released to the satisfaction of the Agent and (ii) in respect of consumer loans from the sale of Timeshare Interests at any Eligible Project if: (x) the stay, order, cease and desist order, injunction, temporary restraining order or similar judicial or nonjudicial sanction in question has not been lifted or released to the satisfaction of the Agent within sixty (60) days of its issuance and (y) there is a reduction in the total number of sales of Timeshare Interests by the Borrower in any Loan Year of more than twenty percent (20%) from the total number of sales of Timeshare Interests in the immediately preceding Loan Year.
Suspension of Loans. 42 SECTION 4.2 Compensation...................................................................................... 43 SECTION 4.3 Taxes............................................................................................. 43
Suspension of Loans. (a) If at any time the Agent shall reasonably determine (which determination, if reasonable, shall be final, conclusive and binding upon all parties) that:
(i) by reason of any changes arising after the Closing Date affecting the applicable interbank market or affecting the position of any Lender or the Agent in such market, adequate and fair means do not exist for ascertaining the Interbank Offered Rate with respect to a Eurodollar Loan or Eurodollar Market Loan; or
(ii) the continuation by any Lender of any Eurodollar Loans or Eurodollar Market Loans or the funding thereof in the applicable interbank market would be unlawful by reason of any law, governmental rule, regulation, guidelines or order; or
(iii) the continuation by any Lender of any Eurodollar Loans or Eurodollar Market Loans or the funding thereof in the applicable interbank market would be impracticable as a result of a contingency occurring after the date of this Agreement that materially and adversely affects the applicable interbank market; then, and in any such event, the Agent shall on such date give notice (by telephone and confirmed in writing) to the Borrower of such determination. The obligation of any Lender to make or maintain Fixed Rate Segments so affected or to permit interest to be computed thereon based upon the Interbank Offered Rate shall be terminated, and interest shall thereafter be computed on the affected Segment or Segments at the then applicable Base Rate.
(b) It is the intention of the parties that the Fixed Rates shall accurately reflect the cost to each Lender of maintaining any Fixed Rate Segment during any period in which interest accrues thereon at a Fixed Rate. Accordingly:
(i) if by reason of any change after the date hereof in any applicable law or governmental rule, regulation or order (or any interpretation thereof and including the introduction of any new law or governmental rule, regulation or order), including any change in the Eurodollar Reserve Percentage, the cost to any Lender of maintaining any Fixed Rate Segment or funding the same by means of an interbank market time deposit in the relevant interbank market shall increase, the Fixed Rate applicable to such Fixed Rate Segment shall be adjusted as necessary to reflect such change in cost to such Lender, effective as of the date on which such change in any applicable law, governmental rule, regulation or order becomes effective; and
(ii) If any Lender shall have determined that the adoption after th...
