Common use of Illegality; Increased Costs Clause in Contracts

Illegality; Increased Costs. Deposits Not Available], the Borrower shall, subject to the Borrower’s indemnification Obligations under Section 5.10 [Indemnity], as to any Loan of the Lender to which a LIBOR Rate Option applies, on the date specified in such notice either convert such Loan to the Base Rate Option otherwise available with respect to such Loan or prepay such Loan in accordance with Section 5.6 [Voluntary Prepayments]. Absent due notice from the Borrower of conversion or prepayment, such Loan shall automatically be converted to the Base Rate Option otherwise available with respect to such Loan upon such specified date.

Appears in 23 contracts

Samples: Credit Agreement (Gentex Corp), Credit Agreement (Crocs, Inc.), Intercreditor Agreement (Armstrong Coal Company, Inc.)

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Illegality; Increased Costs. Deposits Not Available], the Borrower shall, subject to the Borrower’s indemnification Obligations under Section 5.10 5.9 [Indemnity], as to any Loan of the Lender to which a LIBOR Rate Option applies, on the date specified in such notice either convert such Loan to the Base Rate Option otherwise available with respect to such Loan or prepay such Loan in accordance with Section 5.6 [Voluntary Prepayments]. Absent due notice from the Borrower of conversion or prepayment, such Loan shall automatically be converted to the Base Rate Option otherwise available with respect to such Loan upon such specified date.

Appears in 13 contracts

Samples: Credit Agreement (CNX Resources Corp), Credit Agreement (CNX Coal Resources LP), Joinder and Assumption Agreement (CONSOL Energy Inc)

Illegality; Increased Costs. Deposits Not Available], the Borrower shall, subject to the Borrower’s 's indemnification Obligations under Section 5.10 [Indemnity], as to any Loan of the Lender to which a LIBOR Rate Option applies, on the date specified in such notice either convert such Loan to the Base Rate Option otherwise available with respect to such Loan or prepay such Loan in accordance with Section 5.6 [Voluntary Prepayments]. Absent due notice from the Borrower of conversion or prepayment, such Loan shall automatically be converted to the Base Rate Option otherwise available with respect to such Loan upon such specified date.

Appears in 10 contracts

Samples: Credit Agreement (Nacco Industries Inc), Credit Agreement (Nacco Industries Inc), Credit Agreement (Hallador Energy Co)

Illegality; Increased Costs. Deposits Not Available], the Borrower shall, subject to the Borrower’s 's indemnification Obligations under Section 5.10 5.11 [Indemnity], as to any Loan of the Lender to which a LIBOR Rate Option applies, on the date specified in such notice either convert such Loan to the Base Rate Option otherwise available with respect to such Loan or prepay such Loan in accordance with Section 5.6 [Voluntary Prepayments]. Absent due notice from the Borrower of conversion or prepayment, such Loan shall automatically be converted to the Base Rate Option otherwise available with respect to such Loan upon such specified date.

Appears in 2 contracts

Samples: Credit Agreement (New Jersey Resources Corp), Credit Agreement (New Jersey Resources Corp)

Illegality; Increased Costs. Deposits Not Available], the Borrower shall, subject to the Borrower’s 's indemnification Obligations under Section 5.10 [Indemnity], as to any Loan of the Lender to which a the Daily LIBOR Rate Option or LIBOR Rate applies, on the date specified in such notice either convert such Loan to the Base Rate Option otherwise available with respect to such Loan or prepay such Loan in accordance with Section 5.6 [Voluntary Prepayments]. Absent due notice from the Borrower of conversion or prepayment, such Loan shall automatically be converted to the Base Rate Option otherwise available with respect to such Loan upon such specified date.

Appears in 2 contracts

Samples: Credit Agreement (Steel Partners Holdings L.P.), Credit Agreement (Handy & Harman Ltd.)

Illegality; Increased Costs. Deposits Not Available], the Borrower shall, subject to the Borrower’s indemnification Obligations under Section 5.10 [Indemnity], as to any Loan of the such Lender to which a LIBOR Rate Option applies, on the date specified in such notice either convert such Loan to the Base Rate Option otherwise available with respect to such Loan or prepay such Loan in accordance with Section 5.6 [Voluntary Prepayments]. Absent due notice from the Borrower of conversion or prepayment, such Loan shall automatically be converted to the Base Rate Option otherwise available with respect to such Loan upon such specified date.

Appears in 2 contracts

Samples: Credit Agreement (CONSOL Energy Inc.), Credit Agreement (CONSOL Energy Inc.)

Illegality; Increased Costs. Deposits Not Available], the Borrower shall, subject to the Borrower’s indemnification Obligations under Section 5.10 4.9 [Indemnity], as to any Loan of the Lender to which a LIBOR Rate Option applies, on the date specified in such notice either convert such Loan to the Base Rate Option otherwise available with respect to such Loan or prepay such Loan in accordance with Section 5.6 4.6 [Voluntary Prepayments]. Absent due notice from the Borrower of conversion or prepayment, such Loan shall automatically be converted to the Base Rate Option otherwise available with respect to such Loan upon such specified date.

Appears in 2 contracts

Samples: Credit Agreement (Rti International Metals Inc), Credit Agreement (Erie Indemnity Co)

Illegality; Increased Costs. Deposits Not Available], the Borrower shall, subject to the Borrower’s indemnification Obligations under Section 5.10 5.11 [Indemnity], as to any Loan of the Lender to which a LIBOR Rate Option applies, on the date specified in such notice either convert such Loan to the Base Rate Option otherwise available with respect to such Loan or prepay such Loan in accordance with Section 5.6 [Voluntary Prepayments]. Absent due notice from the Borrower of conversion or prepayment, such Loan shall automatically be converted to the Base Rate Option otherwise available with respect to such Loan upon such specified date.

Appears in 2 contracts

Samples: Credit Agreement (Om Group Inc), Credit Agreement (New Jersey Resources Corp)

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Illegality; Increased Costs. Deposits Not Available], the Borrower shall, subject to the Borrower’s 's indemnification Obligations under Section 5.10 [Indemnity], as to any Loan of the Lender to which a LIBOR LIBORTerm SOFR Rate Option applies, on the date specified in such notice either convert such Loan to the Base Rate Option otherwise available with respect to such Loan or prepay such Loan in accordance with Section 5.6 [Voluntary Prepayments]. Absent due notice from the Borrower of conversion or prepayment, such Loan shall automatically be converted to the Base Rate Option otherwise available with respect to such Loan upon such specified date.

Appears in 1 contract

Samples: Credit Agreement (Gentex Corp)

Illegality; Increased Costs. Deposits Not Available], the Borrower shall, subject to the Borrower’s indemnification Obligations under Section 5.10 [Indemnity], as to any Loan of the Lender to which a LIBOR Rate Option applies, on the date specified in such notice either convert such Loan to the Base Rate Option otherwise available with respect to such Loan or prepay such Loan in accordance with Section 5.6 [Voluntary Prepayments]. Absent due notice from the Borrower of conversion or prepayment, such Loan shall automatically be converted to the Base Rate Option otherwise available with respect to such Loan upon such specified date.. Table of Contents

Appears in 1 contract

Samples: Credit Agreement (Hallador Energy Co)

Illegality; Increased Costs. Deposits Not Available], the Borrower Borrowers shall, subject to the Borrower’s Borrowers’ indemnification Obligations under Section 5.10 [Indemnity], as to any Loan of the Lender to which a LIBOR Rate Option Term SOFR applies, on the date specified in such notice either convert such Loan to the Base Rate Option otherwise available with respect to such Loan or prepay such Loan in accordance with Section 5.6 [Voluntary Prepayments]. Absent due notice from the Borrower Borrowers of conversion or prepayment, such Loan shall automatically be converted to the Base Rate Option otherwise available with respect to such Loan upon such specified date.. 4.5

Appears in 1 contract

Samples: Credit Agreement (DLH Holdings Corp.)

Illegality; Increased Costs. Deposits Not Available], the Borrower shall, subject to the Borrower’s 's indemnification Obligations under Section 5.10 2.9.8 [Indemnity], as to any Loan of the Lender Bank to which a LIBOR LIBOR-Rate Option applies, on the date specified in such notice either convert such Loan to the Base Rate Option otherwise available with respect to such Loan or prepay such Loan in accordance with Section 5.6 [Voluntary Prepayments]. Absent due notice from the Borrower of conversion or prepayment, such Loan shall automatically be converted to the Base Rate Option otherwise available with respect to such Loan upon such specified date.

Appears in 1 contract

Samples: Credit Agreement (WESTMORELAND COAL Co)

Illegality; Increased Costs. Deposits Not Available], the Borrower shall, subject to the Borrower’s 's indemnification Obligations under Section 5.10 [Indemnity], as to any Loan of the Lender to which a the LIBOR Rate Option applies, on the date specified in such notice either convert such Loan to the Base Rate Option otherwise available with respect to such Loan or prepay such Loan in accordance with Section 5.6 [Voluntary Prepayments]. Absent due notice from the Borrower of conversion or prepayment, such Loan shall automatically be converted to the Base Rate Option otherwise available with respect to such Loan upon such specified date.

Appears in 1 contract

Samples: Credit Agreement (Steel Partners Holdings L.P.)

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