Common use of Unavailability of Certain Loans; Illegality Clause in Contracts

Unavailability of Certain Loans; Illegality. (a) If on or prior to the first day of any Interest Period for any LIBOR Loan: (i) the Administrative Agent determines (which determination shall be conclusive) that by reason of circumstances affecting the London interbank or other relevant market, adequate and reasonable means do not exist for ascertaining LIBOR for such Interest Period; or (ii) the Requisite Lenders determine (which determination shall be conclusive) and notify the Administrative Agent that the Adjusted LIBO Rate will not adequately and fairly reflect the cost to the Lenders of funding LIBOR Loans for such Interest Period, then the Administrative Agent shall give the Borrower prompt notice thereof, and so long as such condition remains in effect, the Lenders shall be under no obligation to make additional LIBOR Loans, Continue 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 or Convert such Loans into Base Rate Loans in accordance with the terms of this Agreement. (b) Notwithstanding any other provision of this Agreement, in the event that it becomes unlawful for any Lender or its Lending Office to make, maintain, or fund LIBOR Loans hereunder, then such Lender shall promptly notify the Borrower and the Administrative Agent thereof and such Lender's obligation to make or Continue LIBOR Loans and to Convert Base Rate Loans into LIBOR Loans shall be suspended until such time as such Lender may again make, maintain, and fund LIBOR Loans (in which case the provisions of Section 2.8. shall be applicable).

Unavailability of Certain Loans; Illegality. (a) If on or prior to the first day of any Interest Period for any LIBOR Loan: (i) , the Administrative Agent determines (which determination shall be conclusive) that by reason of circumstances affecting the London interbank or other relevant market, adequate and reasonable means do not exist for ascertaining LIBOR for such Interest Period; or (ii) the Requisite Lenders determine (which determination shall be conclusive) and notify the Administrative Agent that the Adjusted LIBO Rate will not adequately and fairly reflect the cost to the Lenders of funding LIBOR Loans for such Interest Period, then the Administrative Agent shall give the Borrower prompt notice thereof, and so long as such condition remains in effect, the Lenders shall be under no obligation to make additional LIBOR Loans, Continue 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 or Convert such Loans into Base Rate Loans in accordance with the terms of this Agreement. (b) Notwithstanding any other provision of this Agreement, in the event that it becomes unlawful for any Lender or its Lending Office to make, maintain, or fund LIBOR Loans hereunder, then such Lender shall promptly notify the Borrower and the Administrative Agent thereof and such Lender's obligation to make or Continue LIBOR Loans and to Convert Base Rate Loans into LIBOR Loans shall be suspended until such time as such Lender may again make, maintain, and fund LIBOR Loans (in which case the provisions of Section 2.8. shall be applicable).