Common use of Illegality; Increased Costs; Deposits Not Available Clause in Contracts

Illegality; Increased Costs; Deposits Not Available. If at any time any Bank shall have determined that: (i) the making, maintenance or funding of any Loan to which a LIBO-Rate Option applies has been made impracticable or unlawful by compliance by such Bank in good faith with any Law or any interpretation or application thereof by any Official Body or with any request or directive of any such Official Body (whether or not having the force of Law), or (ii) such LIBO-Rate Option will not adequately and fairly reflect the cost to such Bank of the establishment or maintenance of any such Loan, or (iii) after making all reasonable efforts, deposits of the relevant amount in Dollars for the relevant Interest Period for a Loan, or to banks generally, to which a LIBO-Rate Option applies, respectively, are not available to such Bank with respect to such Loan, or to banks generally, in the interbank eurodollar market, then the Agent shall have the rights specified in Section 3.4.3 (Agent's and Bank's Rights). 3.4.3.

Appears in 3 contracts

Samples: Credit Agreement (Hovnanian Enterprises Inc), Credit Agreement (Hovnanian Enterprises Inc), Credit Agreement (Hovnanian Enterprises Inc)

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Illegality; Increased Costs; Deposits Not Available. If at any time any Bank shall have determined that: (i) the making, maintenance or funding of any Term Loan to which a LIBO-Rate Option applies has been made impracticable or unlawful by compliance by such Bank in good faith with any Law or any interpretation or application thereof by any Official Body or with any request or directive of any such Official Body (whether or not having the force of Law), or (ii) such LIBO-Rate Option will not adequately and fairly reflect the cost to such Bank of the establishment or maintenance of any such Term Loan, or (iii) after making all reasonable efforts, deposits of the relevant amount in Dollars for the relevant Interest Period for a Term Loan, or to banks generally, to which a LIBO-Rate Option applies, respectively, are not available to such Bank with respect to such Term Loan, or to banks generally, in the interbank eurodollar market, then the Agent shall have the rights specified in Section 3.4.3 (Agent's and Bank's Rights). 3.4.3.

Appears in 1 contract

Samples: Credit Agreement (Hovnanian Enterprises Inc)

Illegality; Increased Costs; Deposits Not Available. If at any time any Bank Lender shall have determined that: (i) the making, maintenance or funding of any Loan to which a LIBO-LIBOR Rate Option applies has been made impracticable or unlawful by compliance by such Bank Lender in good faith with any Law or any interpretation or application thereof by any Official Body or with any request or directive of any such Official Body (whether or not having the force of Law), or (ii) such LIBO-LIBOR Rate Option will not adequately and fairly reflect the cost to such Bank Lender of the establishment or maintenance of any such Loan, or (iii) after making all reasonable efforts, deposits of the relevant amount in Dollars for the relevant Interest Period for a Loan, or to banks generally, to which a LIBO-LIBOR Rate Option applies, respectively, are not available to such Bank Lender with respect to such Loan, or to banks generally, in the interbank eurodollar Eurodollar market, then the Administrative Agent shall have the rights specified in Section 3.4.3 (4.4.4 [Administrative Agent's ’s and Bank's Lender’s Rights)]. 3.4.34.4.4.

Appears in 1 contract

Samples: Credit Agreement (DLH Holdings Corp.)

Illegality; Increased Costs; Deposits Not Available. If at any time any Bank Lender shall have determined that: (i) the making, maintenance or funding of any Loan to which a LIBO-Rate Option applies has been made impracticable or unlawful by compliance by such Bank Lender in good faith with any Law or any interpretation or application thereof by any Official Body or with any request or directive of any such Official Body (whether or not having the force of Law), or (ii) such LIBO-Rate Option will not adequately and fairly reflect the cost to such Bank Lender of the establishment or maintenance of any such Loan, or (iii) after making all reasonable efforts, deposits of the relevant amount in Dollars for the relevant Interest Period for a Loan, or to banks generally, to which a LIBO-Rate Option applies, respectively, are not available to such Bank Lender with respect to such Loan, or to banks generally, in the interbank eurodollar market, then the Agent shall have the rights specified in Section 3.4.3 ([Agent's and BankLender's Rights). 3.4.3].

Appears in 1 contract

Samples: Credit Agreement (Hovnanian Enterprises Inc)

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Illegality; Increased Costs; Deposits Not Available. If at any time any Bank Lender shall have determined that: (i) the making, maintenance or funding of any Loan to which a LIBO-Rate Option Term SOFR applies has been made impracticable or unlawful by compliance by such Bank Lender in good faith with any Law or any interpretation or application thereof by any Official Body or with any request or directive of any such Official Body (whether or not having the force of Law), or (ii) such LIBO-Rate Option Term SOFR will not adequately and fairly reflect the cost to such Bank Lender of the establishment or maintenance of any such Loan, or (iii) after making all reasonable efforts, deposits of the relevant amount in Dollars for the relevant SOFR Interest Period for a Loan, or to banks generally, to which a LIBO-Rate Option Term SOFR applies, respectively, are not available to such Bank Lender with respect to such Loan, or to banks generally, in the interbank eurodollar Eurodollar market, then the Administrative Agent shall have the rights specified in Section 3.4.3 (4.4.4 [Administrative Agent's ’s and Bank's Lender’s Rights)]. 3.4.34.4.4.

Appears in 1 contract

Samples: Credit Agreement (DLH Holdings Corp.)

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