ILLEGALITY; TERMINATION OF COMMITMENTS Clause Samples

ILLEGALITY; TERMINATION OF COMMITMENTS. Notwithstanding any other provisions herein, if any law, treaty, rule or regulation, or determination of a court, governmental authority, central bank or comparable agency charged with the interpretation or administration thereof (whether or not having the force of law), or any change therein or in the interpretation or application thereof, shall make it unlawful or impossible for any Lender to make or maintain Eurodollar Rate Advances, the obligation of the Lenders hereunder to make or maintain Eurodollar Rate Advances shall forthwith be canceled, and outstanding Eurodollar Rate Advances shall be converted to Base Rate Advances on either (a) the last day of the applicable Interest Period for such Advance if the Lenders may continue to maintain such Advances until such day or (b) immediately if any Lender may not continue to maintain such Advances. Each Lender which becomes aware of any such event which makes it unlawful or impossible for such Lender to make or maintain Eurodollar Rate Advances promptly shall notify the Company and the Agent of such event; PROVIDED, HOWEVER, that the failure to provide any such notice shall not affect the applicability of the preceding sentence or the obligations of the Company hereunder or under any of the other Loan Documents.