Common use of Illegality Clause in Contracts

Illegality. If due to any Change in Law it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its Eurodollar Rate Revolving Loans, and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and the Administrative Agent that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan to such day.

Appears in 31 contracts

Samples: Credit Agreement (Midamerican Energy Co), Credit Agreement (Pacificorp /Or/), Credit Agreement (Pacificorp /Or/)

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Illegality. If due to any Change in Lender determines that any Law has made it shall become unlawful unlawful, or impossible that any Governmental Authority has asserted that it is unlawful, for any Lender (or its Eurodollar applicable Lending Office) Office to make, maintain or fund its Eurodollar Eurocurrency Rate Revolving Loans, and or to determine or charge interest rates based upon the Eurocurrency Rate, then, on notice thereof by such Lender shall so notify to the Borrower through the Administrative Agent, the Administrative Agent any obligation of such Lender to make or continue Eurocurrency Rate Loans or to convert Base Rate Loans to Eurocurrency Rate Loans shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, be suspended until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension determination no longer exist. Upon receipt of such notice, the obligation Borrower shall upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all applicable Eurocurrency Rate Loans of such Lender to make Eurodollar Base Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan therefor, if such Lender may lawfully continue to maintain and fund such Revolving Loan Eurocurrency Rate Loans to such day day, or (ii) immediately promptly, if such Lender shall determine that it may not lawfully continue to maintain such Eurocurrency Rate Loans. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted and fund all amounts due, if any, in connection with such Revolving Loan prepayment or conversion under Section 3.05. Each Lender agrees to designate a different Lending Office if such designation will avoid the need for such notice and will not, in the good faith judgment of such Lender, otherwise be materially disadvantageous to such dayLender.

Appears in 30 contracts

Samples: Credit Agreement (Summit Materials, LLC), Credit Agreement (SeaWorld Entertainment, Inc.), Credit Agreement (SeaWorld Entertainment, Inc.)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Revolving Borrowing, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate ’s Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Borrowing for the same Interest Period and if the affected Eurodollar Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 28 contracts

Samples: Credit Agreement (Piper Jaffray Companies), Revolving Credit Agreement (ONEOK Partners LP), Credit Agreement (Encore Capital Group Inc)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Revolving Borrowing, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate 's Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Borrowing for the same Interest Period and if the affected Eurodollar Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 24 contracts

Samples: Credit and Term Loan Agreement (Tivity Health, Inc.), Credit and Term Loan Agreement (FGX International Holdings LTD), Credit and Term Loan Agreement (Healthways, Inc)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Borrowing, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate ’s Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Borrowing for the same Interest Period and, if the affected Eurodollar Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 18 contracts

Samples: Credit Agreement (Perion Network Ltd.), Guaranty and Security Agreement (RadNet, Inc.), Revolving Credit Agreement (Repay Holdings Corp)

Illegality. If due to any Change in Lender determines that any Law has made it shall become unlawful unlawful, or impossible that any Governmental Authority has asserted that it is unlawful, for any Lender (or its Eurodollar applicable Lending Office) Office to make, maintain or fund its Eurodollar Eurocurrency Rate Revolving LoansLoans of any currency, and or to determine or charge interest rates based upon the Eurocurrency Rate for any currency, then, on notice thereof by such Lender shall so notify to the applicable Borrowers through the Administrative Agent, the Administrative Agent any obligation of such Lender to make or continue Eurocurrency Rate Loans of such currency or to convert Base Rate Loans to Eurocurrency Rate Loans shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, be suspended until such Lender notifies the Borrower Administrative Agent and the Administrative Agent applicable Borrowers that the circumstances giving rise to such suspension determination no longer exist. Upon receipt of such notice, the obligation applicable Borrower shall upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all applicable Eurocurrency Rate Loans of such Lender to make Eurodollar Base Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan therefor, if such Lender may lawfully continue to maintain and fund such Revolving Loan Eurocurrency Rate Loans to such day day, or (ii) immediately promptly, if such Lender shall determine that it may not lawfully continue to maintain such Eurocurrency Rate Loans. Upon any such prepayment or conversion, such Borrower shall also pay accrued interest on the amount so prepaid or converted and fund all amounts due, if any, in connection with such Revolving Loan prepayment or conversion under Section 3.05. Each Lender agrees to designate a different Lending Office if such designation will avoid the need for such notice and will not, in the good faith judgment of such Lender, otherwise be materially disadvantageous to such dayLender.

Appears in 14 contracts

Samples: Amendment Agreement (Nielsen Holdings PLC), Credit Agreement (Nielsen Holdings PLC), Credit Agreement (Nielsen CO B.V.)

Illegality. If due to any Regulatory Change in Law it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its Eurodollar Rate Revolving LoansAdvances, and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith give notice thereof to the other Lenders and the BorrowerBorrowers, whereupon, until such Lender notifies the Borrower Borrowers and the Administrative Agent that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving LoansAdvances, or to Convert outstanding Revolving Loans Advances into Eurodollar Rate Revolving LoansAdvances, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.162.14, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan Advance of such Lender then outstanding shall be converted to a Base Rate Revolving Loan Advance either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan Advance if such Lender may lawfully continue to maintain and fund such Revolving Loan Advance to such day or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan Advance to such day.

Appears in 14 contracts

Samples: Credit Agreement (Indiana Michigan Power Co), Credit Agreement (Southwestern Electric Power Co), Credit Agreement (Appalachian Power Co)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Borrowing, such Lender Lender’s Loan shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to be made as a Base Rate Loan as part of the same Borrowing for the same Interest Period and, if the affected Eurodollar Loan is then outstanding, such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 12 contracts

Samples: Credit Agreement (Ensign Group, Inc), Credit Agreement (Ring Energy, Inc.), Term Loan Agreement (Buckeye Partners, L.P.)

Illegality. If due to any Change in Lender determines that any Law has made it shall become unlawful unlawful, or impossible that any Governmental Authority has asserted that it is unlawful, for any Lender (or its Eurodollar applicable Lending Office) Office to make, maintain or fund its Eurodollar Rate Revolving Loans, and or to determine or charge interest rates based upon the Adjusted LIBO Rate, then, on notice thereof by such Lender shall so notify to the Borrower through the Administrative Agent, the Administrative Agent any obligation of such Lender to make or continue Eurodollar Loans or to convert Base Rate Loans to Eurodollar Loans shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, be suspended until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension determination no longer exist. Upon receipt of such notice, the obligation Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all Eurodollar Loans of such Lender to make Eurodollar Base Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan therefor, if such Lender may lawfully continue to maintain and fund such Revolving Loan Eurodollar Loans to such day day, or (ii) immediately promptly, if such Lender shall determine that it may not lawfully continue to maintain such Eurodollar Loans. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted and fund all amounts due, if any, in connection with such Revolving Loan prepayment or conversion under Section 3.05. Each Lender agrees to designate a different Lending Office if such designation will avoid the need for such notice and will not, in the good faith judgment of such Lender, otherwise be materially disadvantageous to such dayLender.

Appears in 11 contracts

Samples: Credit Agreement (Station Casinos Inc), Credit Agreement (Station Casinos LLC), Credit Agreement (Station Casinos LLC)

Illegality. If due to Notwithstanding any Change other provision herein, if the adoption of or any change in any Requirement of Law or in the interpretation or application thereof shall make it shall become unlawful or impossible for any Lender to make or maintain Eurodollar Loans as contemplated by this Agreement, (or its Eurodollar Lending Officea) to make, maintain or fund its Eurodollar Rate Revolving Loans, and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and the Administrative Agent that the circumstances giving rise to such suspension no longer exist, the obligation commitment of such Lender hereunder to make Eurodollar Rate Revolving Loans, or continue Eurodollar Loans as such and convert Base Rate Loans to Convert Eurodollar Loans shall forthwith be canceled and (b) such Lender's Loans then outstanding Revolving Loans into as Eurodollar Rate Revolving Loans, if any, shall be suspended. Before giving any notice converted automatically to Base Rate Loans on the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent respective last days of the then current Interest Periods with its internal policy and legal and regulatory restrictions applicable respect to such Lender) to designate a different Eurodollar Lending Office if Loans or within such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lenderearlier period as required by law. If any such notice conversion of a Eurodollar Loan occurs on a day which is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on not the last day of the then current Interest Period applicable with respect thereto, the Borrower shall pay to such Eurodollar Rate Revolving Loan Lender such amounts, if such Lender any, as may lawfully continue be required pursuant to maintain and fund such Revolving Loan to such day or (ii) immediately if such subsection 2.16. If circumstances subsequently change so that any affected Lender shall determine that it may not lawfully is no longer so affected, such Lender will promptly notify the Borrower and the Administrative Agent, and upon receipt of such notice, the obligations of such Lender to make or continue Eurodollar Loans or to maintain and fund such Revolving Loan to such dayconvert Base Rate Loans into Eurodollar Loans shall be reinstated.

Appears in 10 contracts

Samples: Credit Agreement (L 3 Communications Corp), Credit Agreement (L 3 Communications Corp), Credit Agreement (L 3 Communications Corp)

Illegality. If due to any Change in Lender determines that any Law has made it shall become unlawful unlawful, or impossible that any Governmental Authority has asserted that it is unlawful, for any Lender (or its Eurodollar applicable Lending Office) Office to make, maintain or fund its Eurodollar Rate Revolving Loans, and or to determine or charge interest rates based upon the Eurodollar Rate, then, on notice thereof by such Lender shall so notify to the Borrower through the Administrative Agent, the Administrative Agent any obligation of such Lender to make or continue Eurodollar Rate Loans or to convert Base Rate Committed Loans to Eurodollar Rate Committed Loans shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, be suspended until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension determination no longer exist. Upon receipt of such notice, the obligation Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all Eurodollar Rate Loans of such Lender to make Eurodollar Base Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan therefor, if such Lender may lawfully continue to maintain and fund such Revolving Loan Eurodollar Rate Loans to such day day, or (ii) immediately immediately, if such Lender shall determine that it may not lawfully continue to maintain such Eurodollar Rate Loans. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted. Each Lender agrees to designate a different Lending Office if such designation will avoid the need for such notice and fund will not, in the good faith judgment of such Revolving Loan Lender, otherwise be materially disadvantageous to such dayLender.

Appears in 8 contracts

Samples: Credit Agreement (Bre Properties Inc /Md/), Credit Agreement (Bre Properties Inc /Md/), Credit Agreement (Sunrise Senior Living Inc)

Illegality. If due to any Change in Lender reasonably determines that any Law has made it shall become unlawful unlawful, or impossible that any Governmental Authority has asserted that it is unlawful, for any Lender (or its Eurodollar applicable Lending Office) Office to make, maintain or fund its Eurodollar Rate Revolving any LIBOR Loans, and or to determine or charge interest rates based upon the applicable LIBOR, then, on notice thereof by such Lender shall so notify to the Borrower through the Administrative Agent, the Administrative Agent any obligation of such Lender to make or continue any affected LIBOR Loans or to convert Base Rate Loans to such LIBOR Loans shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, be suspended until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension determination no longer exist. Upon receipt of such notice, the obligation Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of LIBOR Loans and shall upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all then outstanding affected LIBOR Loans of such Lender to make Eurodollar Base Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan therefor, if such Lender may lawfully continue to maintain and fund such Revolving Loan LIBOR Loans to such day day, or (ii) immediately promptly, if such Lender shall determine that it may not lawfully continue to maintain such LIBOR Loans. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted and fund all amounts due, if any, in connection with such Revolving Loan prepayment or conversion under Section 3.05. Each Lender agrees to designate a different Lending Office if such designation will avoid the need for such notice and will not, in the good faith judgment of such Lender, otherwise be materially disadvantageous to such dayLender.

Appears in 7 contracts

Samples: Credit Agreement (IASIS Healthcare LLC), Restatement Agreement (IASIS Healthcare LLC), Credit Agreement (IASIS Healthcare LLC)

Illegality. If due to any Change in Law it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its Eurodollar SOFR Rate Revolving Loans, and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and the Administrative Agent that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar SOFR Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar SOFR Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar SOFR Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar SOFR Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan to such day.

Appears in 7 contracts

Samples: Credit Agreement (Midamerican Energy Co), Credit Agreement (Midamerican Energy Co), Credit Agreement (Midamerican Energy Co)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (to perform any of its obligations hereunder or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Borrowing, such Lender Lender’s Loan shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to be made as a Base Rate Loan as part of the same Borrowing for the same Interest Period and, if the affected Eurodollar Loan is then outstanding, such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 7 contracts

Samples: Credit Agreement (Samson Oil & Gas LTD), Credit Agreement (Tengasco Inc), Credit Agreement (Riley Exploration - Permian, LLC)

Illegality. If due to If, on or after the Effective Date, any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Officeapplicable lending office) to make, maintain or fund its Eurodollar Rate Revolving Loans, Loans and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, whereupon until such Lender notifies the Borrower and the Administrative Agent that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.162.15(e), such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office lending office if such designation would will avoid the need for giving such notice and would will not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving an ABR Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan Loan, if such Lender may lawfully continue to maintain and fund such Revolving Loan as a Eurodollar Loan to such day day, or (ii) immediately immediately, if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan as a Eurodollar Loan to such day. Interest and principal on any such ABR Loan shall be payable on the same dates as, and on a pro rata basis with, the interest and principal payable on the related Eurodollar Loans of the other Lenders.

Appears in 7 contracts

Samples: Credit Agreement (Eagle Materials Inc), Credit Agreement (Eagle Materials Inc), Credit Agreement (Eagle Materials Inc)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Borrowing, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate ’s Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Borrowing for the same Interest Period and if the affected Eurodollar Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 6 contracts

Samples: Credit and Term Loan Agreement (Catalyst Health Solutions, Inc.), Credit Agreement (Malibu Boats, Inc.), Credit Agreement (Malibu Boats, Inc.)

Illegality. If due to any Lender reasonably determines that any Change in Law has made it shall become unlawful unlawful, or impossible that any Governmental Authority has asserted after the Closing Date that it is unlawful, for any Lender (or its applicable Lending Office to make or maintain any Eurodollar Lending Office) to make, maintain or fund its Eurodollar Rate Revolving Loans, and then, on notice thereof by such Lender to the Borrowers through the Administrative Agent (at which time such Lender shall so notify the Administrative Agentbe deemed an “Affected Lender”), any obligations of such Affected Lender to make or continue Eurodollar Loans or to convert ABR Borrowings to Eurodollar Borrowings shall be suspended until such Affected Lender notifies the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and the Administrative Agent Borrowers that the circumstances giving rise to such suspension determination no longer exist. Upon receipt of such notice, the obligation of Borrowers shall upon demand from such Affected Lender to make Eurodollar Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice (with a copy to the Administrative Agent pursuant to this Section 2.16Agent), such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different either convert all Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment Borrowings of such LenderAffected Lender to ABR Borrowings, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan therefor, if such Affected Lender may lawfully continue to maintain and fund such Revolving Loan Eurodollar Borrowings to such day day, or (ii) immediately immediately, if such Affected Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan to Loans. Upon any such dayprepayment or conversion, the Borrowers shall also pay accrued interest on the amount so prepaid or converted.

Appears in 6 contracts

Samples: Credit Agreement (Generac Holdings Inc.), Credit Agreement (Generac Holdings Inc.), Credit Agreement (Ollie's Bargain Outlet Holdings, Inc.)

Illegality. If due to Notwithstanding any Change other provision of this Agreement, if any Lender shall notify the Agent that the introduction of or any change in Law or in the interpretation of any law or regulation makes it shall become unlawful unlawful, or impossible any central bank or other governmental authority asserts that it is unlawful, for any Lender (or its Eurodollar Lending Office) Office to make, maintain or fund perform its obligations hereunder to make Eurodollar Rate Revolving LoansAdvances or LIBO Rate Advances or to fund or maintain Eurodollar Rate Advances or LIBO Rate Advances hereunder, (a) each Eurodollar Rate Advance or LIBO Rate Advance, as the case may be, will automatically, at the end of the applicable Interest Period then in effect if permitted and otherwise upon such demand, Convert into a Base Rate Advance or an Advance that bears interest at the rate set forth in Section 2.07(a)(i), as the case may be, and such Lender (b) the obligation of the Lenders to make Eurodollar Rate Advances or LIBO Rate Advances or to Convert Revolving Credit Advances into Eurodollar Rate Advances shall so notify be suspended until the Administrative Agent, the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, until such Lender notifies notify the Borrower and the Administrative Agent Lenders that the circumstances giving rise to causing such suspension no longer exist; provided, the obligation of however, that before making any such demand, each Lender agrees to make Eurodollar Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lenderrestrictions) to designate a different Eurodollar Eurocurrency Lending Office if the making of such a designation would avoid the need for giving allow such notice Lender or its Eurocurrency Lending Office to continue to perform its obligations to make Eurocurrency Rate Advances or to continue to fund or maintain Eurocurrency Rate Advances and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan to such day.

Appears in 6 contracts

Samples: Day Credit Agreement (York International Corp /De/), Day Credit Agreement (York International Corp /De/), Day Credit Agreement (York International Corp /De/)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Borrowing, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate ’s Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Borrowing for the same Interest Period and if the affected Eurodollar Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 5 contracts

Samples: Revolving Credit and Term Loan Agreement (Aaron's Inc), Revolving Credit Agreement (International Speedway Corp), Revolving Credit Agreement (International Speedway Corp)

Illegality. If due to If, after the date of this Agreement, any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so promptly notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Revolving Borrowing, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate ’s Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Borrowing for the same Interest Period and if the affected Eurodollar Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 5 contracts

Samples: Term Loan Agreement (Tc Pipelines Lp), Revolving Credit and Term Loan Agreement (Tc Pipelines Lp), Revolving Credit and Term Loan Agreement (Tc Pipelines Lp)

Illegality. If due to Notwithstanding any Change in Law it shall become unlawful or impossible for other provision of this Agreement, if (a) any Lender (or its Eurodollar Lending Office) to make, maintain or fund its Eurodollar Rate Revolving Loans, and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and the Administrative Facility Agent that the circumstances giving rise introduction of or any change in or in the interpretation of any law or regulation makes it unlawful, or any central bank or other governmental authority asserts that it is unlawful, for such Lender or its Applicable Lending Office to perform its obligations hereunder to make Advances or to fund or maintain Advances or (b) any Lender notifies PMI and the Facility Agent that it is unlawful for such suspension no longer existLender or its Applicable Lending Office to make Advances or to fund or maintain Advances to a Designated Subsidiary due to the jurisdiction of organization of such Designated Subsidiary, then, in each case, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, such Advances shall be suspended. Before giving any notice suspended until the Facility Agent shall notify PMI and the Lenders that the circumstances causing such suspension no longer exist and the relevant aggregate Commitments shall be temporarily reduced by the amount of such Lender’s share of the Commitments affected by such illegality for the duration of the suspension with respect to the Administrative Agent pursuant such Advances; provided, however, that each Lender agrees to this Section 2.16, such Lender shall (i) use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lenderrestrictions) to designate a different Eurodollar Applicable Lending Office if the making of such a designation would avoid the need for giving allow such notice Lender or its Applicable Lending Office to continue to perform its obligations to make Advances or to continue to fund or maintain Advances and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day or (ii) immediately to make or fund Advances to a different Borrower designated by PMI if the making of such designation would allow such Lender shall determine that it may not lawfully to continue to perform its obligations to make Advances or to continue to fund or maintain and fund such Revolving Loan to such dayAdvances.

Appears in 5 contracts

Samples: Credit Agreement (Philip Morris International Inc.), Credit Agreement (Philip Morris International Inc.), Credit Agreement (Altria Group Inc)

Illegality. If due to any Lender reasonably determines that any Change in Law has made it shall become unlawful unlawful, or impossible that any Governmental Authority has asserted after the Closing Date that it is unlawful, for any such Lender (or its Eurodollar Lending Office) applicable lending office to make, make or maintain or fund its Eurodollar any LIBOR Rate Revolving Loans, and then, on notice thereof by such Lender shall so notify to the Administrative Borrower through the Agent, the Administrative Agent any obligations of such Lender to make or continue LIBOR Rate Loans or to convert ABR Borrowings to LIBOR Rate Borrowings shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, be suspended until such Lender notifies the Borrower Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension determination no longer exist. Upon receipt of such notice, the obligation Borrower shall upon demand from such Lender (with a copy to the Agent), either convert all LIBOR Rate Borrowings of such Lender to make Eurodollar Rate Revolving LoansABR Borrowings, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan therefor, if such Lender may lawfully continue to maintain and fund such Revolving Loan LIBOR Rate Borrowings to such day day, or (ii) immediately immediately, if such Lender shall determine that it may not lawfully continue to maintain such Loans. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted. Each Lender agrees to designate a different lending office if such designation will avoid the need for such notice and fund will not, in the determination of such Revolving Loan Lender, otherwise be disadvantageous to such dayit.

Appears in 5 contracts

Samples: Credit Agreement (Neiman Marcus, Inc.), Credit Agreement (Transdigm Inc), Credit Agreement (Neiman Marcus, Inc.)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Revolving Borrowing, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate ’s Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Borrowing for the same Interest Period and if the affected Eurodollar Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (ia) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (iib) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 5 contracts

Samples: Revolving Credit Agreement (Watsco Inc), Revolving Credit Agreement (Watsco Inc), Revolving Credit Agreement (Watsco Inc)

Illegality. If due to Notwithstanding any Change other provision of this Agreement, if any Lender determines that the introduction of, or any change in Law or in the interpretation of, any law, treaty or governmental rule, regulation or order after the Closing Date shall make it unlawful, or any central bank or other Governmental Authority shall become unlawful or impossible assert that it is unlawful, for any Lender (or its Eurodollar applicable Lending Office) Office to make, maintain or fund its make Eurodollar Rate Revolving Loans or to continue to fund or maintain Eurodollar Rate Loans, then, on notice thereof and demand therefor by such Lender shall so notify to the Borrower through the Administrative Agent, the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and the Administrative Agent that the circumstances giving rise to such suspension no longer exist, (i) the obligation of such Lender to make or to continue Eurodollar Rate Revolving Loans, or Loans and to Convert outstanding Revolving convert Base Rate Loans into Eurodollar Rate Revolving Loans, Loans shall be suspended, and each such Lender shall make a Base Rate Loan as part of any requested Borrowing of Eurodollar Rate Loans and (ii) if the affected Eurodollar Rate Loans are then outstanding, the Borrower shall immediately convert each such Loan into a Base Rate Loan. Before giving If, at any time after a Lender gives notice to the Administrative Agent pursuant to under this Section 2.16clause (d), such Lender determines that it may lawfully make Eurodollar Rate Loans, such Lender shall use reasonable efforts (consistent with its internal policy promptly give notice of that determination to the Borrower and legal the Administrative Agent, and regulatory restrictions applicable the Administrative Agent shall promptly transmit the notice to each other Lender. The Borrower’s right to request, and such Lender) ’s obligation, if any, to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each make Eurodollar Rate Revolving Loan of such Lender then outstanding Loans shall thereupon be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan to such dayrestored.

Appears in 5 contracts

Samples: Credit Agreement (Amc Entertainment Inc), Credit Agreement (Amc Entertainment Inc), Credit Agreement (Amc Entertainment Inc)

Illegality. (a) If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Term Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Rate Borrowing, such Lender Lender’s Term Loan shall use reasonable efforts (consistent with its internal policy be made as a Base Rate Loan as part of the same Borrowing for the same Interest Period and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each affected Eurodollar Rate Revolving Loan of is then outstanding, such Lender then outstanding Term Loan shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Eurodollar Rate Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Rate Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 5 contracts

Samples: Credit Agreement (Bristow Group Inc), Aircraft Security Agreement (Bristow Group Inc), Term Loan Credit Agreement (Bristow Group Inc)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan (whether denominated in Dollars or in the Alternative Currency) and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer existexist (which such Lender shall endeavor to do promptly upon that being the case), the obligation of such Lender to make Eurodollar Rate Revolving LoansLoans in the affected currency or currencies, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving LoansLoans in the affected currency or currencies, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Borrowing denominated in Dollars, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate ’s Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Borrowing for the same Interest Period and if the affected Eurodollar Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 5 contracts

Samples: Credit Agreement (EVO Payments, Inc.), Restatement Agreement (EVO Payments, Inc.), Credit Agreement (EVO Payments, Inc.)

Illegality. If due to any Change in Lender determines that any applicable Law has made it shall become unlawful unlawful, or impossible that any Governmental Authority of competent jurisdiction has asserted that it is unlawful, for any Lender (or its Eurodollar applicable Lending Office) Office to make, maintain or fund its Eurodollar Rate Revolving Loans, and or to determine or charge interest rates based upon the Eurodollar Rate, then, on notice thereof by such Lender shall so notify to the Borrower through the Administrative Agent, the Administrative Agent any obligation of such Lender to make or continue Eurodollar Rate Loans or to convert Base Rate Loans to Eurodollar Rate Loans shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, be suspended until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension determination no longer existexist (which notification such Lender shall make promptly upon the cessation of the circumstances giving rise to such determination). Upon receipt of such notice, the obligation Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), either prepay or convert (at the Borrower’s option) all Eurodollar Rate Loans of such Lender to make Eurodollar Base Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan therefor, if such Lender may lawfully continue to maintain and fund such Revolving Loan Eurodollar Rate Loans to such day day, or (ii) immediately immediately, if such Lender shall determine that it may not lawfully continue to maintain such Eurodollar Rate Loans. Each Lender agrees to designate a different Lending Office if such designation will avoid the need for such notice and fund will not, in the good faith judgment of such Revolving Loan Lender, otherwise be materially disadvantageous to such dayLender.

Appears in 5 contracts

Samples: Bridge Loan Credit Agreement (Pmi Group Inc), Revolving Credit Agreement (Pmi Group Inc), Revolving Credit Agreement (Pmi Group Inc)

Illegality. If due to any Lender reasonably determines that any Change in Law has made it shall become unlawful unlawful, or impossible that any Governmental Authority has asserted after the Closing Date that it is unlawful, for any Lender (or its applicable Lending Office to make or maintain any Eurodollar Lending Office) to make, maintain or fund its Eurodollar Rate Revolving Loans, and then, on notice thereof by such Lender to the Borrower through the Administrative Agent (at which time such Lender shall so notify the Administrative Agentbe deemed an “Affected Lender”), any obligations of such Affected Lender to make or continue Eurodollar Loans or to convert CBFR Borrowings to Eurodollar Borrowings shall be suspended until such Affected Lender notifies the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and the Administrative Agent that the circumstances giving rise to such suspension determination no longer exist. Upon receipt of such notice, the obligation of Borrower shall upon demand from such Affected Lender to make Eurodollar Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice (with a copy to the Administrative Agent pursuant to this Section 2.16Agent), such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different either convert all Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment Borrowings of such LenderAffected Lender to CBFR Borrowings, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan therefor, if such Affected Lender may lawfully continue to maintain and fund such Revolving Loan Eurodollar Borrowings to such day day, or (ii) immediately immediately, if such Affected Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan to Loans. Upon any such dayprepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted.

Appears in 4 contracts

Samples: Credit Agreement (Tuesday Morning Corp/De), Possession Credit Agreement (Tuesday Morning Corp/De), Credit Agreement (Tuesday Morning Corp/De)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Borrowing, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate ’s Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Borrowing for the same Interest Period and if the affected Eurodollar Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (ia) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (iib) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 4 contracts

Samples: Agreement (Aaron's Inc), Credit Agreement (Aaron's Company, Inc.), Credit Agreement (Aaron's Company, Inc.)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its Eurodollar any LIBOR Loan or Index Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Company and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Company that the circumstances giving rise to such suspension no longer existexist (which it shall promptly do), the obligation of such Lender to make Eurodollar LIBOR Loans and Index Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar LIBOR Loans or Index Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate case of the making of a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar LIBOR Revolving Loan Borrowing or Index Rate Revolving Loan Borrowing, such Lender’s Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Loan Borrowing and if the affected LIBOR Loan or Index Rate Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving LIBOR Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving LIBOR Loan to such daydate, and immediately in the case of an Index Rate Loan. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 4 contracts

Samples: Loan and Security Agreement (Global Defense Technology & Systems, Inc.), Loan and Security Agreement (NCI, Inc.), Loan and Security Agreement (Global Defense Technology & Systems, Inc.)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (to perform any of its obligations hereunder or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Borrowing, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate ’s Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Borrowing for the same Interest Period and, if the affected Eurodollar Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, use reasonable efforts to designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 4 contracts

Samples: Credit Agreement (Apollo Medical Holdings, Inc.), Credit Agreement (Apollo Medical Holdings, Inc.), Credit Agreement (LendingTree, Inc.)

Illegality. If due to any Change Lender reasonably determines that any change in Law law has made it shall become unlawful unlawful, or impossible that any Governmental Authority has asserted after the Closing Date that it is unlawful, for any Lender (or its Eurodollar applicable Lending Office) Office to make, make or maintain or fund its Eurodollar Rate any Eurocurrency Revolving Loans, and then, on notice thereof by such Lender shall so notify to the Borrowers through the Administrative Agent, the Administrative Agent any obligations of such Lender to make or continue Eurocurrency Revolving Loans or to convert ABR Borrowings or Base Rate Borrowings to Eurocurrency Revolving Borrowings shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, be suspended until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrowers that the circumstances giving rise to such suspension determination no longer exist. Upon receipt of such notice, the obligation Borrowers shall upon demand from such Lender (with a copy to the Administrative Agent), either convert all Eurocurrency Revolving Borrowings of such Lender to make Eurodollar Rate Revolving Loans, ABR Borrowings or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan Borrowings, either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan therefor, if such Lender may lawfully continue to maintain and fund such Eurocurrency Revolving Loan Borrowings to such day day, or (ii) immediately immediately, if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan to Loans. Upon any such dayprepayment or conversion, the Borrowers shall also pay accrued interest on the amount so prepaid or converted.

Appears in 4 contracts

Samples: Asset Based Revolving Credit Agreement (Hexion Inc.), Amendment Agreement (Hexion Inc.), Collateral Access Agreement (Momentive Specialty Chemicals Inc.)

Illegality. If due to any Lender shall notify the Borrower that any Change in Law makes it shall become unlawful unlawful, or impossible that any central bank or other Governmental Authority asserts that it is unlawful, for any such Lender (or its Eurodollar applicable Lending Office) Office to perform its obligations under this Agreement to make, maintain maintain, or fund its any Eurodollar Rate Revolving LoansLoans of such Lender then outstanding hereunder, (a) all Eurodollar Loans of such Lender that are then the subject of any Notice of Borrowing and that cannot be lawfully funded shall be funded as ABR Loans of such Lender, (b) all Eurodollar Loans of such Lender shall so notify be Converted automatically to ABR Loans of such Lender on the Administrative Agentrespective last days of the then current Interest Periods with respect to such Eurodollar Loans or within such earlier period as required by such change in circumstances, and (c) the Administrative Agent right of the Borrower to select Eurodollar Loans from such Lender for any subsequent Revolving Borrowing shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, be suspended until such Lender notifies shall notify the Borrower and the Administrative Agent that the circumstances giving rise to causing such suspension no longer exist, the obligation of such . Each Lender agrees to make Eurodollar Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use commercially reasonable efforts (consistent with its internal policy policies and legal and regulatory restrictions applicable to such Lenderrestrictions) to designate a different Eurodollar Lending Office if the making of such designation would avoid the need for giving such notice effect of this paragraph and would not, in the reasonable judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan to such day.

Appears in 4 contracts

Samples: Credit Agreement (Hi-Crush Partners LP), Possession Credit Agreement (Hi-Crush Inc.), Possession Credit Agreement (Hi-Crush Inc.)

Illegality. If due to any Lender determines that any Change in Law has made it shall become unlawful unlawful, or impossible that any Governmental Authority has asserted after the Closing Date that it is unlawful, for any Lender (or its Eurodollar applicable Lending Office) Office to make, maintain or fund its Eurodollar Rate Revolving Loans, and or to determine or charge interest rates based upon the Eurodollar Rate, then, on notice thereof by such Lender shall so notify to the Borrower through the Administrative Agent, the Administrative Agent any obligation of such Lender to make or continue Eurodollar Rate Loans in Dollars or to convert Base Rate Loans to Eurodollar Rate Loans, shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, be suspended until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension determination no longer exist. Upon receipt of such notice, the obligation Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all Eurodollar Rate Loans of such Lender to make Eurodollar Base Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan therefor, if such Lender may lawfully continue to maintain and fund such Revolving Loan Eurodollar Rate Loans to such day day, or (ii) immediately immediately, if such Lender shall determine that it may not lawfully continue to maintain such Eurodollar Rate Loans. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted. Each Lender agrees to designate a different Lending Office if such designation will avoid the need for such notice and fund will not, in the good faith judgment of such Revolving Loan Lender, otherwise be materially disadvantageous to such dayLender.

Appears in 4 contracts

Samples: Credit and Guaranty Agreement (Black Knight, Inc.), Credit and Guaranty Agreement (Black Knight, Inc.), Credit and Guaranty Agreement (Fidelity National Financial, Inc.)

Illegality. If due to (a) Notwithstanding any other provision herein, if, after the date on which this Agreement becomes effective, a Change in Law shall make it shall become unlawful or impossible for any Lender to (i) honor any Commitment it may have hereunder to make any Eurodollar Loan, then such Commitment shall be suspended, or its (ii) maintain any Eurodollar Lending Office) to makeLoan or any Competitive Bid Eurodollar Loan, maintain or fund its then all Eurodollar Loans and Competitive Bid Eurodollar Loans of such Lender then outstanding shall be converted into Base Rate Revolving LoansLoans as provided in Section 8.02(b), and any remaining Commitment of such Lender hereunder to make Eurodollar Loans (but not other Loans) shall so notify be immediately suspended, in either case until such Lender may again make and/or maintain Eurodollar Loans (as the Administrative Agentcase may be), the Administrative Agent shall forthwith give notice thereof to and borrowings from such Lender, at a time when borrowings from the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and the Administrative Agent that the circumstances giving rise are to such suspension no longer exist, the obligation be of such Lender to make Eurodollar Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspendedmade, simultaneously with such borrowings from the other Lenders, by way of Base Rate Loans. Upon the occurrence of any such change, such Lender shall promptly notify the Company thereof (with a copy to the Administrative Agent), and shall furnish to the Company in writing evidence thereof certified by such Lender. Before giving any notice to the Administrative Agent pursuant to this Section 2.168.02, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Applicable Lending Office if such designation would will avoid the need for giving such notice and would will not, in the sole reasonable judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan to such day.

Appears in 4 contracts

Samples: Assignment and Assumption (Lockheed Martin Corp), Credit Agreement (Lockheed Martin Corp), Credit Agreement (Lockheed Martin Corp)

Illegality. If due to Notwithstanding any Change other provision of this Agreement, if any Lender determines that the introduction of or any change in Law or in the interpretation of any law, treaty or governmental rule, regulation or order after the date of this Agreement shall make it unlawful, or any central bank or other Governmental Authority shall become unlawful or impossible assert that it is unlawful, for any Lender (or its Eurodollar Lending Office) Office to make, maintain or fund its make Eurodollar Rate Revolving Loans or to continue to fund or maintain Eurodollar Rate Loans, then, on notice thereof and demand therefor by such Lender shall so notify to the Borrower through the Administrative Agent, the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and the Administrative Agent that the circumstances giving rise to such suspension no longer exist, (i) the obligation of such Lender to make or to continue Eurodollar Rate Revolving Loans, or Loans and to Convert outstanding Revolving convert Base Rate Loans into Eurodollar Rate Revolving Loans, Loans shall be suspended, and each such Lender shall make a Base Rate Loan as part of any requested Borrowing of Eurodollar Rate Loans and (ii) if the affected Eurodollar Rate Loans are then outstanding, the Borrower shall immediately convert each such Loan into a Base Rate Loan. Before giving If at any time after a Lender gives notice to the Administrative Agent pursuant to under this Section 2.162.14(d) such Lender determines that it may lawfully make Eurodollar Rate Loans, such Lender shall use reasonable efforts (consistent with its internal policy promptly give notice of that determination to the Borrower and legal the Administrative Agent, and regulatory restrictions applicable the Administrative Agent shall promptly transmit the notice to each other Lender. The Borrower’s right to request, and such Lender) ’s obligation, if any, to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each make Eurodollar Rate Revolving Loan of such Lender then outstanding Loans shall thereupon be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan to such dayrestored.

Appears in 4 contracts

Samples: Credit Agreement (Warnaco Group Inc /De/), Credit Agreement (Warnaco Group Inc /De/), Credit Agreement (Warnaco Group Inc /De/)

Illegality. If due to Notwithstanding any Change in Law it shall become unlawful or impossible for other provision of this Agreement, if any Lender (or its Eurodollar Lending Office) to make, maintain or fund its Eurodollar Rate Revolving Loans, and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and the Administrative Agent that the introduction of or any change in, or in the interpretation of, any law or regulation makes it unlawful, or any central bank or other Governmental Authority asserts that it is unlawful, for any Lender or its Applicable Lending Office to perform its obligations hereunder to make Advances (other than, subject to clause (c) of this paragraph, Base Rate Advances) or to fund or maintain any such Advances, (a) each such Advance of such Lender will automatically, upon such demand, be Converted into a Base Rate Advance, (b) the obligation of the Lenders to make such Advances or to Convert Base Rate Advances into such Advances shall be suspended and (c) if such notice asserts the illegality of such Lender making or maintaining Base Rate Advances, the interest rate on which is determined by reference to the Adjusted Term SOFR component of the Base Rate, the interest rate on such Base Rate Advances shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Adjusted Term SOFR component of the Base Rate, in each case, until the Administrative Agent shall notify Mondelēz International and the Lenders that the circumstances giving rise to causing such suspension no longer exist, the obligation of in each case, subject to Section 9.04(b) hereof; provided, however, that before making any such demand, each Lender agrees to make Eurodollar Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lenderrestrictions) to designate a different Eurodollar Applicable Lending Office if the making of such a designation would avoid allow such Lender or its Applicable Lending Office to continue to perform its obligations to make Advances or to continue to fund or maintain such Advances, as the need for giving such notice case may be, and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan to such day.

Appears in 4 contracts

Samples: Credit Agreement (Mondelez International, Inc.), Credit Agreement (Mondelez International, Inc.), Credit Agreement (Mondelez International, Inc.)

Illegality. If due to If, on or after the date hereof, any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Euro-Dollar Lending Office) to make, maintain or fund its Eurodollar Rate Revolving Loans, Euro-Dollar Loans and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, whereupon until such Lender notifies the Borrower and the Administrative Agent that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Euro-Dollar Loans, or to Convert convert outstanding Revolving Loans into Eurodollar Rate Revolving Euro-Dollar Loans or continue outstanding Loans as Euro-Dollar Loans, in each case to the Borrower shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16Section, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Euro-Dollar Lending Office if such designation would will avoid the need for giving such notice and would will not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Euro-Dollar Loan of such Lender then outstanding to the Borrower shall be converted to a Base Rate Revolving Loan either (ia) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Euro-Dollar Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan as a Euro-Dollar Loan to such day or (iib) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan as a Euro-Dollar Loan to such day. Interest and principal on any such Base Rate Loan shall be payable on the same dates as, and on a pro rata basis with, the interest and principal payable on the related Euro-Dollar Loans of the other Lenders.

Appears in 4 contracts

Samples: Credit Agreement (Consolidated Edison Inc), Credit Agreement (Consolidated Edison Co of New York Inc), Credit Agreement (Consolidated Edison Co of New York Inc)

Illegality. If due to any Change in Law it shall become make in unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Revolving Borrowing, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate 's Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Borrowing for the same Interest Period and if the affected Eurodollar Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 4 contracts

Samples: Credit and Term Loan Agreement (Fpic Insurance Group Inc), Revolving Credit Loan Agreement (CBRL Group Inc), Revolving Credit Agreement (Stein Mart Inc)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain maintain, or fund its Eurodollar Rate Revolving Loans, and such Lender shall so notify the Administrative Agent, and the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and the Administrative Agent that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.1611.2, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office lending office if such designation would will avoid the need for giving such notice and would will not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If Upon receipt of such notice is givennotice, notwithstanding anything contained in Article 2, the Borrower shall repay in full the amount of each affected Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan Lender, together with accrued interest thereon, either (ia) on the last day of the then current Interest Eurodollar Loan Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Eurodollar Loan to such day or (iib) immediately if such Lender shall determine that it may not lawfully continue to fund and maintain and fund such Revolving Eurodollar Loan to such day. Concurrently with repaying each affected Eurodollar Loan of such Lender, notwithstanding anything contained in Article 2, the Borrower shall borrow a Base Rate Loan from such Lender, and such Lender shall make such Base Rate Loan in an amount such that the amount of the Loans held by such Lender shall equal the amount of such Loans immediately prior to such repayment.

Appears in 4 contracts

Samples: Credit Agreement (Vulcan Materials CO), Day Credit Agreement (Vulcan Materials CO), Credit Agreement (Vulcan Materials CO)

Illegality. If due to any Lender shall notify the Borrower that any Change in Law makes it shall become unlawful unlawful, or impossible that any central bank or other Governmental Authority asserts that it is unlawful, for any such Lender (or its Eurodollar applicable Lending Office) Office to perform its obligations under this Agreement to make, maintain maintain, or fund any Eurodollar Advances of such Lender then outstanding hereunder, (a) the Borrower shall, no later than 11:00 a.m. (Houston, Texas, time) (i) if not prohibited by law, on the last day of the Interest Period for each outstanding Eurodollar Advance or (ii) if required by such notice, on the second Business Day following its receipt of such notice, prepay all of the Eurodollar Rate Revolving LoansAdvances of such Lender then outstanding, together with accrued interest on the principal amount prepaid to the date of such prepayment and amounts, if any, required to be paid pursuant to Section 2.9 as a result of such prepayment being made on such date, (b) such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith give notice thereof simultaneously make a Base Rate Advance to the other Lenders Borrower on such date in an amount equal to the aggregate principal amount of the Eurodollar Advances prepaid to such Lender, and (c) the Borrower, whereupon, right of the Borrower to select Eurodollar Advances from such Lender for any subsequent Borrowing shall be suspended until such Lender notifies shall notify the Borrower and the Administrative Agent that the circumstances giving rise to causing such suspension no longer exist, the obligation of such . Each Lender agrees to make Eurodollar Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use commercially reasonable efforts (consistent with its internal policy policies and legal and regulatory restrictions applicable to such Lenderrestrictions) to designate a different Eurodollar Lending Office if the making of such designation would avoid the need for giving such notice effect of this paragraph and would not, in the reasonable judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan to such day.

Appears in 4 contracts

Samples: Credit Agreement (Hi-Crush Partners LP), Credit Agreement (Hi-Crush Partners LP), Credit Agreement (Hi-Crush Partners LP)

Illegality. If due to Notwithstanding any Change other provision herein, if the adoption of or any change in any Requirement of Law or in the interpretation or application thereof shall make it shall become unlawful or impossible for any Lender to make or maintain Eurodollar Loans as contemplated by this Agreement, (or its Eurodollar Lending Officea) to make, maintain or fund its Eurodollar Rate Revolving Loans, and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and the Administrative Agent that the circumstances giving rise to such suspension no longer exist, the obligation commitment of such Lender hereunder to make Eurodollar Rate Revolving Loans, or continue Eurodollar Loans as such and convert Alternate Base Rate Loans to Convert Eurodollar Loans shall forthwith be cancelled and (b) such Lender's Loans then outstanding Revolving Loans into as Eurodollar Rate Revolving Loans, if any, shall be suspended. Before giving converted automatically to Alternate Base Rate Loans on the respective last days of the then current Interest Periods with respect to such Loans or within such earlier period as required by law; provided that before making any notice such demand, each Lender agrees to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable and so long as such efforts would not be disadvantageous to such Lenderit, in its reasonable discretion, in any legal, economic or regulatory manner) to designate a different Eurodollar Lending Office lending office if the making of such a designation would allow the Lender or its lending office to continue to perform its obligations to make Eurodollar Loans and avoid the need for giving for, or materially reduce the amount of, such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lenderincreased cost. If any such notice conversion of a Eurodollar Loan occurs on a day which is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on not the last day of the then current Interest Period applicable with respect thereto, the Borrower shall pay to such Eurodollar Rate Revolving Loan Lender such amounts, if such Lender any, as may lawfully continue be required pursuant to maintain and fund such Revolving Loan to such day or (ii) immediately if such Section 4.8. If circumstances subsequently change so that any affected Lender shall determine that it may not lawfully is no longer so affected, such Lender will promptly notify the Borrower and the Administrative Agent, and upon receipt of such notice, the obligations of such Lender to make or continue Eurodollar Loans or to maintain and fund such Revolving Loan to such dayconvert Alternate Base Rate Loans into Eurodollar Loans shall be reinstated.

Appears in 4 contracts

Samples: Credit Agreement (Cooperative Computing Inc /De/), Credit Agreement (Cooperative Computing Inc /De/), Credit Agreement (Activant Solutions Inc /De/)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower Representative and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower Representative that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Borrowing, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate ’s Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Borrowing for the same Interest Period and, if the affected Eurodollar Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 4 contracts

Samples: Credit and Term Loan Agreement (Fox Factory Holding Corp), Revolving Credit Agreement (Fox Factory Holding Corp), Revolving Credit Agreement (Fox Factory Holding Corp)

Illegality. If due to any Change in Lender determines that any Law has made it shall become unlawful unlawful, or impossible that any Governmental Authority has asserted that it is unlawful, for any Lender (or its Eurodollar applicable Lending Office) Office to make, maintain or fund its Eurodollar Rate Revolving Loans, and or to determine or charge interest rates based upon the Eurodollar Rate, then, on notice thereof specifying the circumstances giving rise to such determination by such Lender shall so notify to the Borrower through the Administrative Agent, the Administrative Agent any obligation of such Lender to make or continue Eurodollar Rate Loans or to convert Base Rate Loans to Eurodollar Rate Loans shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, be suspended until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension determination no longer exist. Upon receipt of such notice, the obligation Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all Eurodollar Rate Loans of such Lender to make Eurodollar Base Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan therefor, if such Lender may lawfully continue to maintain and fund such Revolving Loan Eurodollar Rate Loans to such day day, or (ii) immediately immediately, if such Lender shall determine that it may not lawfully continue to maintain such Eurodollar Rate Loans. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted. Each Lender agrees to designate a different Lending Office if such designation will avoid the need for such notice and fund will not, in the good faith judgment of such Revolving Loan Lender, otherwise be materially disadvantageous to such dayLender.

Appears in 3 contracts

Samples: Credit Agreement (ClubCorp Club Operations, Inc.), Credit Agreement (University Club, Inc. (FL)), Credit Agreement (ClubCorp Holdings, Inc.)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Revolving Borrowing, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate ’s Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Borrowing for the same Interest Period and if the affected Eurodollar Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be materially disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Rollins Inc), Revolving Credit Agreement (Rollins Inc), Revolving Credit Agreement (Rollins Inc)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Loan or Index Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Revolving Loans or Index Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Loans or Index Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Revolving Borrowing or an Index Rate Borrowing, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate ’s Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Borrowing for the same Interest Period and if the affected Eurodollar Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate, and immediately in the case of an Index Rate Loan. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be commercially disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 3 contracts

Samples: Revolving Credit and Term Loan Agreement (Stanley, Inc.), Revolving Credit and Term Loan Agreement (Stanley, Inc.), Revolving Credit and Term Loan Agreement (Stanley, Inc.)

Illegality. If due to Notwithstanding any Change other provision of this Agreement, if any Lender determines that the introduction of or any change in Law or in the interpretation of any law, treaty or governmental rule, regulation or order after the date of this Agreement shall make it unlawful, or any central bank or other Governmental Authority shall become unlawful or impossible assert that it is unlawful, for any Lender (or its Eurodollar Lending Office) Office to make, maintain or fund its make Eurodollar Rate Revolving Loans or to continue to fund or maintain Eurodollar Rate Loans, then, on notice thereof and demand therefor by such Lender shall so notify to the Borrower through the Administrative Agent, the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and the Administrative Agent that the circumstances giving rise to such suspension no longer exist, (i) the obligation of such Lender to make or to continue Eurodollar Rate Revolving Loans, or Loans and to Convert outstanding Revolving convert Base Rate Loans into Eurodollar Rate Revolving Loans, Loans shall be suspended, and each such Lender shall make a Base Rate Loan as part of any requested Borrowing of Eurodollar Rate Loans and (ii) if the affected Eurodollar Rate Loans are then outstanding, the Borrower shall immediately convert each such Loan into a Base Rate Loan. Before giving If at any time after a Lender gives notice to the Administrative Agent pursuant to under this Section 2.162.14(d) such Lender determines that it may lawfully make Eurodollar Rate Loans, such Lender shall use reasonable efforts (consistent with its internal policy promptly give notice of that determination to the Borrower and legal the Administrative Agent, and regulatory restrictions applicable the Administrative Agent shall promptly transmit the notice to each other Lender. The Borrower's right to request, and such Lender) 's obligation, if any, to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each make Eurodollar Rate Revolving Loan of such Lender then outstanding Loans shall thereupon be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan to such dayrestored.

Appears in 3 contracts

Samples: Secured Revolving Credit Agreement (Warnaco Group Inc /De/), Friedmans Inc, Kasper a S L LTD

Illegality. If due to Notwithstanding any Change other provision herein, if the adoption of or any change in any Requirement of Law or in the interpretation or application thereof shall make it shall become unlawful or impossible for any Lender to make or maintain Eurodollar Loans or Offshore Currency Loans as contemplated by this Agreement, (or its Eurodollar Lending Officea) to make, maintain or fund its Eurodollar Rate Revolving Loans, and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and the Administrative Agent that the circumstances giving rise to such suspension no longer exist, the obligation commitment of such Lender hereunder to make Eurodollar Rate Revolving such Type of Loans, or continue such Type of Loans as such and convert Base Rate Loans to Convert Eurodollar Loans shall forthwith be cancelled, (b) such Lender's Loans then outstanding Revolving Loans into as Eurodollar Rate Revolving Loans, if any, shall be suspended. Before giving any notice converted automatically to Base Rate Loans on the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent respective last days of the then current Interest Periods with its internal policy and legal and regulatory restrictions applicable respect to such LenderLoans or within such earlier period as required by law and (c) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender's Loans then outstanding as Offshore Currency Loans, if any, shall be otherwise disadvantageous due on the respective last days of the then current Interest Periods with respect to such LenderLoans or within such earlier period as required by law. If any such notice conversion of a Eurodollar Loan or repayment of an Offshore Currency Loan occurs on a day which is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on not the last day of the then current Interest Period applicable with respect thereto, the Company shall (or shall cause the relevant Subsidiary Borrower to) pay to such Lender such amounts, if any, as may be required pursuant to subsection 6.13. During any such period of illegality, any Loans that, but for the application of the preceding sentence would have been maintained as Eurodollar Loans, shall be made and maintained by the affected Lender as Base Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan to such dayLoans.

Appears in 3 contracts

Samples: Credit and Guarantee Agreement (Kinetic Concepts Inc /Tx/), Credit and Guarantee Agreement (Kinetic Concepts Inc /Tx/), Credit and Guarantee Agreement (Kci New Technologies Inc)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Revolving Borrowing, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate ’s Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Borrowing for the same Interest Period and if the affected Eurodollar Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Ruby Tuesday Inc), Revolving Credit Agreement (Ruby Tuesday Inc), Revolving Credit Agreement (Ruby Tuesday Inc)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Borrowing, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate ’s Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Borrowing and, with respect to Eurodollar Loans, for the same Interest Period, and if the affected Eurodollar Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan Loan, either (ia) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (iib) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 3 contracts

Samples: Credit Agreement (BioTelemetry, Inc.), Credit Agreement (Biotelemetry, Inc.), Credit Agreement (Biotelemetry, Inc.)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Borrowing, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate ’s Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Borrowing for the same Interest Period and, if the affected Eurodollar Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then then-current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 3 contracts

Samples: Guaranty and Security Agreement, Guaranty and Security Agreement (Landmark Infrastructure Partners LP), Credit Agreement (Landmark Infrastructure Partners LP)

Illegality. If due to any Change in Lender determines that any Law has made it shall become unlawful unlawful, or impossible that any Governmental Authority has asserted that it is unlawful, for any Lender (or its Eurodollar applicable Lending Office) Office to make, maintain or fund its Eurodollar Eurocurrency Rate Revolving Loans, and or to determine or charge interest rates based upon the Eurocurrency Rate, then, on notice thereof by such Lender shall so notify to the Borrower through the Administrative Agent, the Administrative Agent any obligation of such Lender to make or continue Eurocurrency Rate Loans or to convert Base Rate Loans to Eurocurrency Rate Loans shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, be suspended until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension determination no longer exist. Upon receipt of such notice, the obligation Borrower shall upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all Eurocurrency Rate Loans of such Lender to make Eurodollar Base Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan therefor, if such Lender may lawfully continue to maintain and fund such Revolving Loan Eurocurrency Rate Loans to such day day, or (ii) immediately promptly, if such Lender shall determine that it may not lawfully continue to maintain such Eurocurrency Rate Loans. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted and fund all amounts due, if any, in connection with such Revolving Loan prepayment or conversion under Section 3.05(a). Each Lender agrees to designate a different Lending Office if such designation will avoid the need for such notice and will not, in the good faith judgment of such Lender, otherwise be materially disadvantageous to such dayLender.

Appears in 3 contracts

Samples: Credit Agreement (Bloomin' Brands, Inc.), Credit Agreement (Osi Restaurant Partners, LLC), Credit Agreement (Cheeseburger-Ohio, Limited Partnership)

Illegality. If due to any Lender reasonably determines that any Change in Law has made it shall become unlawful unlawful, or impossible that any Governmental Authority has asserted after the Closing Date that it is unlawful, for any Lender (or its Eurodollar applicable Lending Office) Office to make, make or maintain or fund its Eurodollar Rate Revolving any LIBOR Loans, and then, on notice thereof by such Lender to the Borrower through the Administrative Agent (at which time such Lender shall so notify the Administrative Agentbe deemed an “Affected Lender”), any obligations of such Affected Lender to make or continue LIBOR Loans or to convert Base Rate Loans to LIBOR Loans shall be suspended until such Affected Lender notifies the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and the Administrative Agent that the circumstances giving rise to such suspension determination no longer exist. Upon receipt of such notice, the obligation of Borrower shall upon demand from such Affected Lender to make Eurodollar Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice (with a copy to the Administrative Agent pursuant to this Section 2.16Agent), such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment either convert all LIBOR Loans of such Lender, be otherwise disadvantageous Affected Lender to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan Loans, either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan therefor, if such Affected Lender may lawfully continue to maintain and fund such Revolving Loan LIBOR Loans to such day day, or (ii) immediately immediately, if such Affected Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan to Loans. Upon any such dayprepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted.

Appears in 3 contracts

Samples: Term Loan Agreement (Milacron Holdings Corp.), Term Loan Agreement (Milacron Holdings Corp.), Term Loan Agreement (Milacron Holdings Corp.)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrowers and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrowers that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Borrowing, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate ’s Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Borrowing for the same Interest Period and, if the affected Eurodollar Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Buckeye Partners, L.P.), Revolving Credit and Term Loan Agreement (Dakota Plains Holdings, Inc.), Revolving Credit Agreement (Buckeye Partners, L.P.)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrowers and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrowers that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Revolving Borrowing, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate ’s Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Borrowing for the same Interest Period and if the affected Eurodollar Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Fortegra Financial Corp), Revolving Credit Agreement (Fortegra Financial Corp), Revolving Credit Agreement (Abovenet Inc)

Illegality. If due to any Lender reasonably determines that any Change in Law has made it shall become unlawful unlawful, or impossible that any Governmental Authority has asserted after the Closing Date that it is unlawful, for any such Lender (or its Eurodollar Lending Office) applicable lending office to make, make or maintain or fund its Eurodollar any LIBO Rate Revolving Loans, and then, on notice thereof by such Lender shall so notify to the Administrative Borrower through the Agent, the Administrative Agent any obligations of such Lender to make or continue LIBO Rate Loans or to convert ABR Borrowings to LIBO Rate Borrowings shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, be suspended until such Lender notifies the Borrower Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension determination no longer exist. Upon receipt of such notice, the obligation Borrower shall upon demand from such Lender (with a copy to the Agent), either convert all LIBO Rate Borrowings of such Lender to make Eurodollar Rate Revolving LoansABR Borrowings, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan therefor, if such Lender may lawfully continue to maintain and fund such Revolving Loan LIBO Rate Borrowings to such day day, or (ii) immediately immediately, if such Lender shall determine that it may not lawfully continue to maintain such Loans. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted. Each Lender agrees to designate a different lending office if such designation will avoid the need for such notice and fund will not, in the determination of such Revolving Loan Lender, otherwise be disadvantageous to such dayit.

Appears in 3 contracts

Samples: Credit Agreement (TransDigm Group INC), Credit Agreement (TransDigm Group INC), Credit Agreement (TransDigm Group INC)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its Eurodollar any LIBOR Index Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrowers’ Agent and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrowers that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar LIBOR Index Rate Revolving Loans, or to Convert continue outstanding Revolving Loans into Eurodollar as LIBOR Index Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a LIBOR Index Rate Borrowing, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate ’s Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Borrowing for the same Interest Period and if the affected LIBOR Index Rate Borrowing is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar LIBOR Index Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving LIBOR Index Rate Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 3 contracts

Samples: Revolving Credit and Term Loan Agreement (PRGX Global, Inc.), Revolving Credit Agreement (PRGX Global, Inc.), Revolving Credit and Term Loan Agreement (PRGX Global, Inc.)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Borrowing, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate 's Revolving Loan shall be made as a Base Rate Loan as part of the same Borrowing for the same Interest Period and if the affected Eurodollar Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Amsurg Corp), Revolving Credit Agreement (Amsurg Corp), Revolving Credit Agreement (Amsurg Corp)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Revolving Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Borrowing, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate ’s Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Borrowing for the same Interest Period and, if the affected Eurodollar Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, use reasonable efforts to designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 3 contracts

Samples: Credit Agreement (Teradyne, Inc), Credit Agreement (Pure Storage, Inc.), Credit Agreement (Teradyne, Inc)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (to perform any of its obligations hereunder or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Borrowing, such Lender Lender’s Loan shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to be made as a Base Rate Loan as part of the same Borrowing for the same Interest Period and, if the affected Eurodollar Loan is then outstanding, such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, use reasonable efforts to designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 3 contracts

Samples: Credit Agreement (Circor International Inc), Credit Agreement (Circor International Inc), Credit Agreement (Circor International Inc)

Illegality. If due to any Lender reasonably determines that any Change in Law has made it shall become unlawful unlawful, or impossible that any Governmental Authority has asserted after the Closing Date that it is unlawful, for any such Lender (or its Eurodollar Lending Office) applicable lending office to make, make or maintain or fund its Eurodollar any LIBO Rate Revolving Loans, and then, on notice thereof by such Lender shall so notify to the Administrative Borrower through the Agent, the Administrative Agent any obligations of such Lender to make or continue LIBO Rate Loans or to convert ABR Borrowings to LIBO Rate Borrowings shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, be suspended until such Lender notifies the Borrower Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension determination no longer existexist and until such notice is given by such Lender, the obligation Borrower shall only request ABR Borrowings from such Lender. Upon receipt of such notice, the Borrower shall upon demand from such Lender (with a copy to the Agent), either convert all LIBO Rate Borrowings of such Lender to make Eurodollar Rate Revolving LoansABR Borrowings, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan therefor, if such Lender may lawfully continue to maintain and fund such Revolving Loan LIBO Rate Borrowings to such day day, or (ii) immediately immediately, if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan Loans. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted. Each Lender agrees to designate a different lending office if such daydesignation will avoid the need for such notice and will not, in the determination of such Lender, otherwise be disadvantageous to it.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Sunpower Corp), Revolving Credit Agreement (Sunpower Corp), Revolving Credit Agreement (Sunpower Corp)

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Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan (generally or only with respect to Interest Periods of a particular length) and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice suspended to the Administrative Agent pursuant to this Section 2.16extent of such unlawfulness. In the case that making a Eurodollar Borrowing, such Lender Lender’s Loan shall use reasonable efforts be made as a Base Rate Loan as part of the same Borrowing for the same Interest Period (consistent or a Eurodollar Borrowing with its internal policy and legal and regulatory restrictions applicable to an Interest Period selected by the Borrower that can be lawfully maintained by such Lender) to designate a different and, if the affected Eurodollar Lending Office if Loan is then outstanding, such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 3 contracts

Samples: Credit and Guaranty Agreement (CareTrust REIT, Inc.), Credit and Guaranty Agreement (CareTrust REIT, Inc.), Credit and Guaranty Agreement (CareTrust REIT, Inc.)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Revolving Borrowing, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate ’s Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving CHAR1\935816v6 Borrowing for the same Interest Period and if the affected Eurodollar Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 2 contracts

Samples: Subsidiary Guaranty Agreement (Ruby Tuesday Inc), Subsidiary Guaranty Agreement (Ruby Tuesday Inc)

Illegality. If due to Notwithstanding any Change other provisions of this Agreement or any other Loan Document, if at any time any change in Law applicable law, rule or regulation or in the interpretation thereof makes it shall become unlawful or impossible for any Lender (to make or continue to maintain any Eurodollar Loans or to perform its obligations as contemplated hereby with respect to such Eurodollar Lending Office) to make, maintain or fund its Eurodollar Rate Revolving Loans, and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and the Administrative Agent that and such Lender’s obligations to make or maintain Eurodollar Loans in the circumstances giving rise to such suspension affected currency or currencies under this Agreement shall be suspended until it is no longer exist, the obligation of unlawful for such Lender to make or maintain Eurodollar Rate Revolving Loans, or to Convert outstanding Revolving . Such Lender may require that (I) any such affected Eurodollar Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, denominated in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall Dollars be converted to a Base Rate Revolving Loan either (i) Loans from such Lender automatically on the last day effective date of the then current Interest Period applicable notice provided above, and such Base Rate Loans shall not be made ratably by the Lenders but only from such affected Lender or (II) any such affected Eurodollar Loans denominated in an Alternative Currency, cause the interest rate with respect to such affected Eurodollar Rate Revolving Loan if Loans to be determined by an alternative rate mutually acceptable to the Borrower and the applicable Lenders. Such Lender shall withdraw such notice promptly following any date on which it becomes lawful for such Lender may lawfully continue to make and maintain and fund such Revolving Loan Eurodollar Loans or give effect to such day or (ii) immediately if such Lender shall determine that it may not lawfully continue its obligations as contemplated hereby with respect to maintain and fund such Revolving Loan to such dayany Eurodollar Loan.

Appears in 2 contracts

Samples: Loan Agreement (Vantiv, Inc.), Loan Agreement (Worldpay, Inc.)

Illegality. If due to If, after the date of this Agreement, the adoption of any Change applicable law, rule, or regulation, or any change therein, or any change in Law the interpretation or administration thereof by any Governmental Authority, central bank, or comparable agency charged with the interpretation or administration thereof, or compliance by Lender with any request or directive (whether or not having the force of law) of any such authority, central bank, or comparable agency shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its Eurodollar Rate Revolving LoansBorrowings, and such then Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and the Administrative Agent that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16Section, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office lending office if such designation would will avoid the need for giving such notice and would not, in the judgment of such Lender, will not be otherwise disadvantageous to such any non-trivial extent to Lender (as determined in good faith by Lender). If such notice is given, each Eurodollar Rate Revolving Loan Upon receipt of such Lender then outstanding notice, Borrower shall be converted to a Base Rate Revolving Loan either (i) repay in full the then outstanding principal amount of all Eurodollar Borrowings, together with accrued interest thereon, or (ii) convert each Eurodollar Borrowing to a Prime Rate Borrowing, on either (A) the last day of the then then-current Interest Period applicable to such Eurodollar Rate Revolving Loan Borrowing if such Lender may lawfully continue to maintain and fund such Revolving Loan Eurodollar Borrowing to such day or (iiB) immediately if such Lender shall determine that it may not lawfully continue to fund and maintain and fund such Revolving Loan Eurodollar Borrowing to such day, provided that Borrower shall be liable for any Funding Loss arising pursuant to such conversion.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Tandy Brands Accessories Inc), Credit and Term Loan Agreement (Tandy Brands Accessories Inc)

Illegality. If due to Notwithstanding any Change other provision of this Agreement, if any Revolving Credit Lender determines that the introduction of, or any change in Law or in the interpretation of, any law, treaty or governmental rule, regulation or order after the date of this Agreement shall make it unlawful, or any central bank or other Governmental Authority shall become unlawful or impossible assert that it is unlawful, for any Revolving Credit Lender (or its Eurodollar Lending Office) Office to make, maintain or fund its make Eurodollar Rate Revolving Loans or to continue to fund or maintain Eurodollar Rate Loans, then, on notice thereof and demand therefor by such Revolving Credit Lender shall so notify to the Borrower through the Administrative Agent, (i) the Administrative Agent obligation of such Revolving Credit Lender to make or to continue Eurodollar Rate Loans and to convert Base Rate Loans into Eurodollar Rate Loans shall forthwith be suspended, and each such Revolving Credit Lender shall make a Base Rate Loan as part of any requested Borrowing of Eurodollar Rate Loans and (ii) if the affected Eurodollar Rate Loans are then outstanding, the Borrower shall immediately convert each such Loan into a Base Rate Loan. If, at any time after a Revolving Credit Lender gives notice under this clause (d), such Revolving Credit Lender determines that it may lawfully make Eurodollar Rate Loans, such Revolving Credit Lender shall promptly give notice thereof of that determination to the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and the Administrative Agent, and the Administrative Agent that shall promptly transmit the circumstances giving rise notice to each other Lender. The Borrower's right to request, and such suspension no longer existRevolving Credit Lender's obligation, the obligation of such Lender if any, to make Eurodollar Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall thereupon be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan to such dayrestored.

Appears in 2 contracts

Samples: Credit Agreement (Tecumseh Products Co), Pledge and Security Agreement (WCI Steel, Inc.)

Illegality. If due to Notwithstanding any other provision of this Agreement, if any Lender shall notify the related Agent that any Regulatory Change in Law makes it shall become unlawful unlawful, or impossible any central bank or other governmental authority asserts that it is unlawful, for any Lender (or its Eurodollar Applicable Lending Office) Office to make, maintain or fund perform its obligations hereunder to make Eurodollar Rate Revolving LoansAdvances or to fund or maintain Eurodollar Rate Advances hereunder, and then (a) as of the effective date of such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and the Administrative Agent that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loansor to Continue, or to Convert outstanding Revolving Loans into Advances into, Eurodollar Rate Revolving Loans, Advances shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, suspended until such Lender shall use reasonable efforts notify the related Agent and the Borrowers that the circumstances causing such suspension no longer exist and (consistent with its internal policy and legal and regulatory restrictions applicable to such Lenderb) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan Advance of such Lender then outstanding shall be converted to Converted into a Base Rate Revolving Loan Advance either (i) on the last day of the then current such Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan Advance to the last day of the Interest Period applicable to such day Eurodollar Rate Advance on the effective date of such notice, or (ii) immediately on the effective date of such notice, if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan Advance to the end of the then current Interest Period. Notwithstanding any provision herein to the contrary, until such dayaffected Lender shall give the rescinding notice described in clause (a) above, any Advance made by such Lender, whether in connection with a new Borrowing or the Conversion of an existing Borrowing, shall be a Base Rate Advance, notwithstanding that each other Advance comprised by such Borrowing may be a Eurodollar Rate Advance.

Appears in 2 contracts

Samples: Credit Agreement (Americredit Corp), Credit Agreement (Americredit Financial Services Inc)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (to perform any of its obligations hereunder or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Borrowing, such Lender Lender’s applicable Loan(s) shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to be made as a Base Rate Loan as part of the same Borrowing for the same Interest Period and, if the affected Eurodollar Loan is then outstanding, such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, use reasonable efforts to designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 2 contracts

Samples: Revolving Credit Agreement (NexPoint Residential Trust, Inc.), Modification of Loan Documents (NexPoint Residential Trust, Inc.)

Illegality. If due to any Change in Lender determines that any Law has made it shall become unlawful unlawful, or impossible that any Governmental Authority has asserted that it is unlawful, for any Lender (or its Eurodollar applicable Lending Office) Office to make, maintain or fund its Eurodollar Rate Revolving Loans, and or to determine or charge interest rates based upon the Eurodollar Rate, then, on notice thereof by such Lender shall so notify to the Borrower through the Administrative Agent, the Administrative Agent any obligation of such Lender to make or continue Eurodollar Rate Revolving Loans or to convert Base Rate Revolving Loans to Eurodollar Rate Revolving Loans shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, be suspended until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension determination no longer exist, which notification such Lender agrees to provide upon such circumstances no longer existing. Upon receipt of such notice, the obligation Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all Eurodollar Rate Revolving Loans of such Lender to make Eurodollar Base Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan thereof, if such Lender may lawfully continue to maintain and fund such Eurodollar Rate Revolving Loan Loans to such day day, or (ii) immediately immediately, if such Lender shall determine that it may not lawfully continue to maintain such Eurodollar Rate Revolving Loans. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted. Each Lender agrees to designate a different Lending Office if such designation will avoid the need for such notice and fund will not, in the good faith judgment of such Revolving Loan Lender, otherwise be materially disadvantageous to such dayLender.

Appears in 2 contracts

Samples: Credit Agreement (Bj Services Co), Credit Agreement (Bj Services Co)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Borrowing, such Lender Lender's Loan shall use reasonable efforts (consistent with its internal policy be made as a Base Rate Loan as part of the same Borrowing for the same Interest Period and legal and regulatory restrictions applicable to if the affected Eurodollar Loan is then outstanding, such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 2 contracts

Samples: Revolving Credit Agreement (American Healthways Inc), Revolving Credit Agreement (American Healthways Inc)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Loan or Index Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Revolving Loans or Index Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Loans or Index Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Revolving Borrowing or an Index Rate Borrowing, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate ’s Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Borrowing for the same Interest Period and if the affected Eurodollar Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate, and immediately in the case of an Index Rate Loan. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 2 contracts

Samples: Revolving Credit and Term Loan Agreement (JTH Holding, Inc.), Revolving Credit Agreement (JTH Holding, Inc.)

Illegality. If due to Notwithstanding any Change other provisions herein, if any present or future law, regulation, treaty or directive or in Law the interpretation or application thereof by any governmental authority charged with administration or interpretation thereof shall make it shall become unlawful or impossible for any Lender (to make or maintain LIBOR Rate Loans or to give effect to its Eurodollar Lending Office) to makeobligations as contemplated by this Agreement, maintain or fund its Eurodollar Rate Revolving Loans, and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith give notice thereof of such circumstances to the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and Agent and thereupon (a) the Administrative Agent that the circumstances giving rise to such suspension no longer exist, the obligation Commitment of such Lender to make Eurodollar LIBOR Rate Revolving Loans, Loans or convert Loans of another Type to Convert outstanding Revolving LIBOR Rate Loans into Eurodollar shall forthwith be suspended and (b) the LIBOR Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender Loans then outstanding shall be converted automatically to a Base Rate Revolving Loan either (i) Loans on the last day of the then current each Interest Period applicable to such Eurodollar LIBOR Rate Revolving Loan if Loans or within such earlier period as may be required by law. Borrower hereby agrees promptly to pay to Agent for the account of such Lender, upon demand, any additional amounts necessary to compensate such Lender may lawfully continue for any costs incurred by such Lender in making any conversion in accordance with this § 4.11, including any interest or fees payable by such Lender to lenders of funds obtained by it in order to make or maintain its LIBOR Rate Loans hereunder. The Base Rate shall remain in effect thereafter unless and fund such Revolving Loan to such day or (ii) immediately if until such Lender shall determine have determined in good faith (which determination shall be conclusive and binding upon Borrower) that it the aforesaid circumstances no longer exist, whereupon such Lender shall notify Borrower and Agent and Borrower may not lawfully continue to maintain and fund such Revolving Loan to such daysubmit a Conversion Request in accordance with the provisions of § 2.6 hereof.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Sl Green Realty Corp), Credit and Guaranty Agreement (Sl Green Realty Corp)

Illegality. If due to Notwithstanding any Change other provision of this Agreement, if any Lender determines that the introduction of or any change in Law or in the interpretation of any law, treaty or governmental rule, regulation or order after the date of this Agreement shall make it unlawful, or any central bank or other Governmental Authority shall become unlawful or impossible assert that it is unlawful, for any Lender (or its Eurodollar Lending Office) Office to make, maintain or fund its make Eurodollar Rate Revolving Loans or to continue to fund or maintain Eurodollar Rate Loans, then, on notice thereof and demand therefor by such Lender shall so notify to the Borrowers through the Administrative Agent, the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and the Administrative Agent that the circumstances giving rise to such suspension no longer exist, (i) the obligation of such Lender to make or to continue Eurodollar Rate Revolving Loans, or Loans and to Convert outstanding Revolving convert Base Rate Loans into Eurodollar Rate Revolving Loans, Loans shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, and each such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to make a Base Rate Revolving Loan either as part of any requested Borrowing of Eurodollar Rate Loans and (iii) if the affected Eurodollar Rate Loans are then outstanding, each applicable Borrower shall immediately (or, if lawful to do so, on the last day of the then current Interest Period applicable to relating thereto) convert each such Loan into a Base Rate Loan. If at any time after a Lender gives notice under this Section 2.14(d) such Lender determines that it may lawfully make Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day or (ii) immediately if Loans, such Lender shall determine promptly give notice of that it may not lawfully continue determination to maintain the applicable Borrower and fund the Administrative Agent, and the Administrative Agent shall promptly transmit the notice to each other Lender. Each Borrower's right to request, and such Revolving Loan Lender's obligation, if any, to such daymake Eurodollar Rate Loans shall thereupon be restored.

Appears in 2 contracts

Samples: Credit Agreement (Terra Nitrogen Co L P /De), Credit Agreement (Terra Industries Inc)

Illegality. If due to any Change in Lender reasonably determines that any Law has made it shall become unlawful unlawful, or impossible that any Governmental Authority has asserted that it is unlawful, for any Lender (or its Eurodollar applicable Lending Office) Office to make, maintain or fund its Eurodollar Rate Revolving Committed Loans, and or to determine or charge interest rates based upon the Eurodollar Rate, then, on notice thereof by such Lender shall so notify the Administrative to Borrower through Agent, the Administrative Agent any obligation of such Lender to make or continue Eurodollar Rate Committed Loans or to convert Base Rate Committed Loans to Eurodollar Rate Committed Loans shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, be suspended until such Lender notifies the Agent and Borrower and the Administrative Agent that the circumstances giving rise to such suspension determination no longer exist. Upon receipt of such notice, the obligation Borrower shall, upon demand from such Lender (with a copy to Agent), prepay or, if applicable, convert all Eurodollar Rate Committed Loans of such Lender to make Eurodollar Base Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan therefor, if such Lender may lawfully continue to maintain and fund such Revolving Loan Eurodollar Rate Committed Loans to such day day, or (ii) immediately immediately, if such Lender shall determine that it may not lawfully continue to maintain such Eurodollar Rate Committed Loans. Upon any such prepayment or conversion, Borrower shall also pay accrued interest on the amount so prepaid or converted and fund such Revolving Loan all amounts due under Section 3.05 in accordance with the terms thereof due to such dayprepayment or conversion. Each Lender agrees to designate a different Lending Office if such designation will avoid the need for such notice and will not, in the good faith judgment of such Lender, otherwise be materially disadvantageous to such Lender.

Appears in 2 contracts

Samples: Assignment and Assumption Agreement (Ashworth Inc), Assignment and Assumption Agreement (Ashworth Inc)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any US Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower Representative and the Borrowerother US Lenders, whereupon, whereupon until such US Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower Representative that the circumstances giving rise to such suspension no longer exist, the obligation of such US Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving US Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Revolving Borrowing, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such US Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate ’s Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Borrowing for the same Interest Period and if the affected Eurodollar Loan is then outstanding, such Lender then outstanding US Loan shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such US Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such US Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected US Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such US Lender in the good faith exercise of its discretion.

Appears in 2 contracts

Samples: Credit Agreement (Macquarie Infrastructure Corp), Revolving Credit Agreement (Macquarie Infrastructure CO LLC)

Illegality. If due to If, after the date of this Agreement, the adoption of any Change applicable law, rule, or regulation, or any change therein, or any change in Law the interpretation or administration thereof by any Governmental Authority, central bank, or comparable agency charged with the interpretation or administration thereof, or compliance by Lender with any request or directive (whether or not having the force of law) of any such authority, central bank, or comparable agency shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its Eurodollar Rate Revolving LoansBorrowings, and such then Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and the Administrative Agent that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspendedBorrowers. Before giving any notice to the Administrative Agent pursuant to this Section 2.16SECTION, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office lending office if such designation would will avoid the need for giving such notice and would not, in the judgment of such Lender, will not be otherwise disadvantageous to any non-trivial extent to Lender (as determined in good faith by Lender). Upon receipt of such Lender. If such notice is givennotice, Borrowers shall either (i) repay in full the then outstanding principal amount of all Eurodollar Borrowings, together with accrued interest thereon, or (ii) convert each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted Borrowing to a Base Rate Revolving Loan Borrowing, on either (iA) on the last day of the then then-current Interest Period applicable to such Eurodollar Rate Revolving Loan Borrowing if such Lender may lawfully continue to maintain and fund such Revolving Loan Eurodollar Borrowing to such day or (iiB) immediately if such Lender shall determine that it may not lawfully continue to fund and maintain and fund such Revolving Loan Eurodollar Borrowing to such day, PROVIDED THAT Borrowers shall be liable for any Funding Loss arising pursuant to such conversion.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Adams Golf Inc), Revolving Credit Agreement (Adams Golf Inc)

Illegality. If due to Notwithstanding any Change in Law it shall become unlawful or impossible for other provision of this Agreement, if any Lender (or its Eurodollar Lending Office) to make, maintain or fund its Eurodollar Rate Revolving Loans, and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and the Administrative Agent that the introduction of or any change in, or in the interpretation of, any law or regulation makes it unlawful, or any central bank or other Governmental Authority asserts that it is unlawful, for any Lender or its Eurocurrency Lending Office to perform its obligations hereunder to make LIBO Rate Loans or to fund or maintain LIBO Rate Loans, (a) each LIBO Rate Loan of such Lender will automatically, upon such demand, be Converted into a Base Rate Loan or an Loan that bears interest at the rate set forth in Section 2.04(a)(i), as the case may be, and (b) the obligation of the Lenders to make LIBO Rate Loans or to Convert Base Rate Loans into LIBO Rate Loans shall be suspended, in each case, until the Administrative Agent shall notify the Borrower and the Lenders that the circumstances giving rise to causing such suspension no longer exist, the obligation of in each case, subject to Section 9.04(b) hereof; provided, however, that before making any such demand, each Lender agrees to make Eurodollar Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lenderrestrictions) to designate a different Eurodollar Eurocurrency Lending Office if the making of such a designation would avoid the need for giving allow such notice Lender or its Eurocurrency Lending Office to continue to perform its obligations to make LIBO Rate Loans or to continue to fund or maintain LIBO Rate Loans and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan to such day.

Appears in 2 contracts

Samples: Term Loan Agreement (Mondelez International, Inc.), Term Loan Agreement (Mondelez International, Inc.)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before In the case of the making of a Eurodollar Borrowing, such Lender’s Loan shall be made as a Base Rate Loan as part of the same Borrowing for the same Interest Period and if the affected Eurodollar Loan is then outstanding, such Loan shall be converted to a Base Rate Loan on the last day of the then current Interest Period applicable to such Eurodollar Loan if such Lender may lawfully continue to maintain such Loan to such date or within such earlier period as required by law. Notwithstanding the foregoing, the affected Lender shall, prior to giving any such notice to the Administrative Agent pursuant to this Section 2.16Agent, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not, in the judgment of such Lender, not otherwise be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan Lender in the good faith exercise of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan to such dayits discretion.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Dollar General Corp), Contribution Agreement (Dollar General Corp)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its Eurodollar any LIBOR Loan or Index Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Company and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Company that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar LIBOR Loans and Index Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar LIBOR Loans or Index Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate case of the making of a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar LIBOR Revolving Loan Borrowing or Index Rate Revolving Loan Borrowing, such Lender’s Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Loan Borrowing and if the affected LIBOR Loan or Index Rate Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving LIBOR Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving LIBOR Loan to such daydate, and immediately in the case of an Index Rate Loan. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 2 contracts

Samples: Loan and Security Agreement (NCI, Inc.), Loan and Security Agreement (NCI, Inc.)

Illegality. If due to Notwithstanding any Change other provision hereof, if any applicable law, treaty, regulation or directive, or any change therein or in Law the interpretation or application thereof, shall make it shall become unlawful or impossible for any Lender (for purposes of this subsection (g), the term "Lender" shall include any Lender and the office or branch where any Lender or any corporation or bank controlling such Lender makes or maintains any Eurodollar Loans) to make or maintain its Eurodollar Lending Office) to make, maintain or fund its Eurodollar Rate Revolving Loans, the obligation of Lenders to make Eurodollar Loans hereunder shall forthwith be canceled and such Lender shall so notify the Borrower shall, if any affected Eurodollar Loans are then outstanding, promptly upon request from the Administrative Agent, the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, until either pay all such Lender notifies the Borrower and the Administrative Agent that the circumstances giving rise to affected Eurodollar Loans or convert such suspension no longer exist, the obligation of such Lender to make affected Eurodollar Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving ABR Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If any such notice payment or conversion of any Eurodollar Loan is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to made on a Base Rate Revolving Loan either (i) on day that is not the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan, the Borrowers shall pay the Administrative Agent upon the Administrative Agent's request, such amount or amounts as may be necessary to compensate Lenders for any loss or expense sustained or incurred by Lenders in respect of such Eurodollar Loan if as a result of such payment or conversion, including (but not limited to) any interest or other amounts payable by Lenders to lenders of funds obtained by Lenders in order to make or maintain such Eurodollar Loan. A certificate as to any additional amounts payable pursuant to the foregoing sentence submitted by any Lender may lawfully continue to maintain and fund such Revolving Loan to such day or (ii) immediately if such Lender the Borrowing Agent shall determine that it may not lawfully continue to maintain and fund such Revolving Loan to such daybe conclusive absent manifest error.

Appears in 2 contracts

Samples: Credit Agreement (Activision Inc /Ny), Credit Agreement (Activision Inc /Ny)

Illegality. If due to any Lender shall notify the Borrower that any Change in Law makes it shall become unlawful unlawful, or impossible that any central bank or other Governmental Authority asserts that it is unlawful, for any such Lender (or its Eurodollar applicable Lending Office) Office to perform its obligations under this Agreement to make, maintain maintain, or fund its any Eurodollar Advances of such Lender then outstanding hereunder, (a) all Eurodollar Advances of such Lender that are then the subject of any Notice of Borrowing and that cannot be lawfully funded shall be funded as Base Rate Revolving LoansAdvances of such Lender, and (b) all Eurodollar Advances of such Lender shall so notify be Converted automatically to Base Rate Advances of such Lender on the Administrative Agentrespective last days of the then current Interest Periods with respect to such Eurodollar Advances or within such earlier period as required by such change in circumstances, and (c) the Administrative Agent right of the Borrower to select Eurodollar Advances from such Lender for any subsequent Borrowing shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, be suspended until such Lender notifies shall notify the Borrower and the Administrative Agent that the circumstances giving rise to causing such suspension no longer exist, the obligation of such . Each Lender agrees to make Eurodollar Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use commercially reasonable efforts (consistent with its internal policy policies and legal and regulatory restrictions applicable to such Lenderrestrictions) to designate a different Eurodollar Lending Office if the making of such designation would avoid the need for giving such notice effect of this paragraph and would not, in the reasonable judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan to such day.

Appears in 2 contracts

Samples: Credit Agreement (Hi-Crush Partners LP), Guaranty Agreement (Hi-Crush Partners LP)

Illegality. If due to If, after the Closing Date, any Bank shall have determined that a Regulatory Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) such Bank to make, maintain maintain, convert, continue or fund its Eurodollar Rate Revolving LoansLoans whose interest rate is determined by reference to a then-current Benchmark to the Borrower, and such Lender shall so notify the Administrative Agent, the Administrative Agent Bank shall forthwith give notice thereof to the other Lenders Administrative Agent and the Borrower, whereupon, until . Upon such Lender notifies notice (a) the Borrower and the Administrative Agent that the circumstances giving rise to such suspension no longer exist, the obligation shall convert all of such Lender to make Eurodollar Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan Loans based on such Benchmark from such Bank on either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan based on such Benchmark if such Lender Bank may lawfully continue to maintain and fund such Revolving Loan based on such Benchmark to such day or (ii) immediately if such Lender shall determine that it Bank may not lawfully continue to fund and maintain and fund such Revolving Loan based on such Benchmark to such day, to a Base Rate Loan in an equal principal amount (interest accrued on each such affected Loan prior to any such conversion shall be due and payable on the date of such conversion together with any funding losses and other amounts due under Section 2.10), (b) the obligation of such Bank to make, to convert Base Rate Loans into, or to continue Loans based on such Benchmark shall be suspended (including pursuant to any borrowing for which the Administrative Agent has received a Notice of Election but for which the date of such conversion or continuation has not arrived), and (c) any Notice of Election given at any time thereafter with respect to Loans based on such Benchmark shall, as to such Bank, be deemed to be a request for a conversion into Base Rate Loans, in each case until such Bank shall have determined that the circumstances giving rise to such suspension no longer exist and shall have so notified the Administrative Agent, and the Administrative Agent shall have so notified the Borrower.

Appears in 2 contracts

Samples: Loan Agreement (Spire Missouri Inc), Loan Agreement (Spire Missouri Inc)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its Eurodollar Rate Revolving Loans, any Term SOFR Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Term SOFR Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Term SOFR Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Term SOFR Borrowing, such Lender Lender’s Loan shall use reasonable efforts (consistent with its internal policy be made as a Base Rate Loan as part of the same Borrowing for the same Interest Period and legal and regulatory restrictions applicable to if the affected Term SOFR Loan is then outstanding, such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Term SOFR Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Term SOFR Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 2 contracts

Samples: Term Loan Agreement (Atmos Energy Corp), Credit Agreement (E.W. SCRIPPS Co)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer existexist (which such Lender shall do promptly upon that being the case), the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Revolving Borrowing, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate ’s Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Borrowing for the same Interest Period and if the affected Eurodollar Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 2 contracts

Samples: Revolving Credit and Term Loan Agreement (Mapics Inc), Revolving Credit and Term Loan Agreement (Mapics Inc)

Illegality. If due to Notwithstanding any Change other provision herein, if the adoption of or any change in Law applicable law or regulation or in the interpretation or application thereof shall make it shall become unlawful or impossible for any Lender to make or maintain EurodollarTerm Benchmark Loans as contemplated by this Agreement, (or its Eurodollar Lending Officea) to make, maintain or fund its Eurodollar Rate Revolving Loans, and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and the Administrative Agent that the circumstances giving rise to such suspension no longer exist, the obligation commitment of such Lender hereunder to make Eurodollar Rate Revolving EurodollarTerm Benchmark Loans, or to Convert outstanding Revolving continue EurodollarTerm Benchmark Loans as such and convert ABR Loans into Eurodollar Rate Revolving EurodollarTerm Benchmark Loans shall forthwith be canceled and (b) such Lender’s Loans then outstanding as EurodollarTerm Benchmark Loans, if any, shall be suspended. Before giving any notice converted automatically to ABR Loans on the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent respective last days of the then current Interest Periods with its internal policy and legal and regulatory restrictions applicable respect to such Lender) to designate a different Eurodollar Lending Office if Loans or within such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lenderearlier period as required by law. If any such notice conversion or repayment of a EurodollarTerm Benchmark Loan occurs on a day which is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on not the last day of the then current Interest Period applicable with respect thereto, the Borrower shall pay to such Eurodollar Rate Revolving Loan Lender such amounts, if such Lender any, as may lawfully continue be required pursuant to maintain and fund such Revolving Loan to such day or (ii) immediately if such Section 2.16. If circumstances subsequently change so that any affected Lender shall determine that it may not lawfully is no longer so affected, such Lender will promptly notify the Borrower and the Administrative Agent, and upon receipt of such notice, the obligations of such Lender to make or continue EurodollarTerm Benchmark Loans or to maintain and fund such Revolving Loan to such dayconvert ABR Loans into EurodollarTerm Benchmark Loans shall be reinstated.

Appears in 2 contracts

Samples: Credit Agreement (Baker Hughes Co), Credit Agreement (Baker Hughes Holdings LLC)

Illegality. If due to If, on or after the date of this Agreement, the adoption of any Change applicable Law, or any change in Law any applicable Law, or any change in the interpretation or administration thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any Lender (or its Applicable Lending Office) with any request or directive (whether or not having the force of Law) of any such authority, central bank or comparable agency shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Applicable Lending Office) to make, maintain or fund any of its Eurodollar Rate Revolving Loans, Loans and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, whereupon until such Lender notifies the Borrower and the Administrative Agent that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.163.02, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Applicable Lending Office if such designation would will avoid the need for giving such notice and would will not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan to such day.

Appears in 2 contracts

Samples: Credit Agreement (Worthington Industries Inc), Revolving Credit Agreement (Worthington Industries Inc)

Illegality. If due to Notwithstanding any Change other provisions of this Agreement or any other Loan Document, if at any time any change in Law applicable law, rule or regulation or in the interpretation thereof makes it shall become unlawful or impossible for any Lender (to make or continue to maintain any Term Benchmark Loans whose interest is determined by reference to Adjusted Term SOFR Rate, or to perform its Eurodollar Lending Office) obligations as contemplated hereby with respect to make, maintain or fund its Eurodollar Rate Revolving such Term Benchmark Loans, and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders and the Borrower, whereupon, until such Lender notifies the Lead Borrower and the Administrative Agent that and such Lender’s obligations to make or maintain Term Benchmark Loans in the circumstances giving rise to such suspension affected currency or currencies under this Agreement shall be suspended until it is no longer exist, the obligation of unlawful for such Lender to make Eurodollar or maintain Term Benchmark Loans in such affected currency or currencies. In the case of Term Benchmark Loans denominated in Dollars, such Lender may require that such affected Term Benchmark Loans be converted to Base Rate Revolving LoansLoans from such Lender automatically on the effective date of the notice provided above, or and such Base Rate Loans shall not be made ratably by the Lenders but only from such affected Lender. Each Xxxxxx agrees to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to notify the Administrative Agent pursuant to this Section 2.16, and the Lead Borrower in writing promptly following any date on which it becomes lawful for such Lender shall use reasonable efforts (consistent to make and maintain Term Benchmark Loans or give effect to its obligations as contemplated hereby with its internal policy and legal and regulatory restrictions applicable respect to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan to such dayany Term Benchmark Loan.

Appears in 2 contracts

Samples: Loan Agreement (Western Digital Corp), Loan Agreement (Western Digital Corp)

Illegality. If due to any Change in Law it shall become make in unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Parent Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Parent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Borrowing, such Lender Lender’s Loan shall use reasonable efforts (consistent with its internal policy be made as a Base Rate Loan as part of the same Borrowing for the same Interest Period and legal and regulatory restrictions applicable to if the affected Eurodollar Loan is then outstanding, such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 2 contracts

Samples: Credit Agreement (Energysouth Inc), Credit Agreement (Energysouth Inc)

Illegality. If due to Notwithstanding any Change other provision of this Agreement, in Law the event that it shall become becomes unlawful or impossible for any Lender (to honor its obligation to make or its Eurodollar Lending Office) to make, maintain or fund its Eurodollar Rate Revolving Loans hereunder, then such Lender shall promptly notify the Borrower thereof (with a copy to the Agent) and such Lender's obligation to make or continue Eurodollar Rate Loans, or to convert Base Rate Loans into Eurodollar Rate Loans, shall be suspended until such time as such Lender may again make and maintain Eurodollar Rate Loans, and such Lender's outstanding Eurodollar Rate Loans shall be converted into Base Rate Loans in accordance with Section 2.8 or earlier if required by applicable law. The conversion of any Eurodollar Rate Loans into Base Rate Loans shall apply only to any Lender shall so notify who is affected by such restrictions and who has provided the Administrative Agentnotice described above, and the Administrative Agent shall forthwith give notice thereof to obligation of the other Lenders to make, and to convert Base Rate Loans into, Eurodollar Rate Loans shall not be affected by such restrictions. In the Borrowerevent that the obligation of some, whereuponbut not all, until such Lender notifies of the Lenders to make, or to convert Base Rate Loans into, Eurodollar Rate Loans is so suspended, then any request by the Borrower and during the Administrative Agent that pendency of such suspension for a Eurodollar Rate Loan shall be deemed a request for such Eurodollar Rate Loan from the circumstances giving rise Lender(s) not subject to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (ifrom the Lender(s) who are subject to such suspension, in each case in the respective amounts based on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan to such dayLenders' respective Applicable Commitment Percentages.

Appears in 2 contracts

Samples: Credit Agreement (Windmere Durable Holdings Inc), Credit Agreement (Sheridan Healthcare Inc)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its Eurodollar Rate Revolving Loans, any SOFR Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving SOFR Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving SOFR Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a SOFR Borrowing, such Lender Xxxxxx’s Loan shall use reasonable efforts (consistent with its internal policy be made as a Base Rate Loan as part of the same Borrowing for the same Interest Period and legal and regulatory restrictions applicable to if the affected SOFR Loan is then outstanding, such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving SOFR Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving SOFR Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Atmos Energy Corp), Revolving Credit Agreement (Atmos Energy Corp)

Illegality. If due to any Change in Lender determines that any Law has made it shall become unlawful unlawful, or impossible that any Governmental Authority has asserted that it is unlawful, for any Lender (or its Eurodollar applicable Lending Office) Office to make, maintain or fund its Eurodollar Eurocurrency Rate Revolving Loans, and or to determine or charge interest rates based upon the Eurocurrency Rate, in each case after the Closing Date, then, on notice thereof by such Lender shall so notify to the Borrower through the Administrative Agent, the Administrative Agent any obligation of such Lender to make or continue Eurocurrency Rate Loans or to convert Base Rate Loans to Eurocurrency Rate Loans shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, be suspended until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension determination no longer exist. Upon receipt of such notice, the obligation Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all applicable Eurocurrency Rate Loans of such Lender to make Eurodollar Base Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan therefor, if such Lender may lawfully continue to maintain and fund such Revolving Loan Eurocurrency Rate Loans to such day day, or (ii) immediately promptly, if such Lender shall determine that it may not lawfully continue to maintain such Eurocurrency Rate Loans. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted and fund all amounts due, if any, in connection with such Revolving Loan prepayment or conversion under Section 3.05. Each Lender agrees to designate a different Lending Office if such designation will avoid the need for such notice and will not, in the good faith judgment of such Lender, otherwise be materially disadvantageous to such dayLender.

Appears in 2 contracts

Samples: Credit Agreement (Nebula Parent Corp.), Credit Agreement (Nebula Parent Corp.)

Illegality. If due to Notwithstanding any Change other provision of this Agreement, if any Lender determines that the introduction of, or any change in Law or in the interpretation of, any law, treaty or governmental rule, regulation or order after the Closing Date shall make it unlawful, or any central bank or other Governmental Authority shall become unlawful or impossible assert that it is unlawful, for any Lender (or its Eurodollar applicable Lending Office) Office to make, maintain or fund its make Eurodollar Rate Revolving Loans or to continue to fund or maintain Eurodollar Rate Loans, then, on notice thereof and demand therefor by such Lender shall so notify to the Borrower through the Administrative Agent, the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and the Administrative Agent that the circumstances giving rise to such suspension no longer exist, (i) the obligation of such Lender to make or to continue Eurodollar Rate Revolving Loans, or Loans and to Convert outstanding Revolving convert Base Rate Loans into Eurodollar Rate Revolving Loans, Loans shall be suspended, and each such Lender shall make a Base Rate Loan as part of any requested Borrowing of Eurodollar Rate Loans and (ii) if the affected Eurodollar Rate Loans are then outstanding, the Borrower shall immediately convert each such Loan into a Base Rate Loan. Before giving If, at any time after a Lender gives notice to the Administrative Agent pursuant to under this Section 2.16clause (c), such Lender determines that it may lawfully make Eurodollar Rate Loans, such Lender shall use reasonable efforts (consistent with its internal policy promptly give notice of that determination to the Borrower and legal the Administrative Agent, and regulatory restrictions applicable the Administrative Agent shall promptly transmit the notice to each other Lender. The Borrower’s right to request, and such Lender) ’s obligation, if any, to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each make Eurodollar Rate Revolving Loan of such Lender then outstanding Loans shall thereupon be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan to such dayrestored.

Appears in 2 contracts

Samples: Credit Agreement (Amc Entertainment Holdings, Inc.), Credit Agreement (Amc Entertainment Holdings, Inc.)

Illegality. If due to If, after the date of this Agreement, the adoption of any Change applicable law, rule, or regulation, or any change therein, or any change in Law the interpretation or administration thereof by any Governmental Authority, central bank, or comparable agency charged with the interpretation or administration thereof, or compliance by any Lender with any request or directive (whether or not having the force of law) of any such authority, central bank, or comparable agency, shall make it shall become unlawful or impossible for any such Lender (or its Eurodollar Lending Office) to make, maintain or fund its Eurodollar Rate Revolving LoansBorrowings, and such Lender then the Agent shall so notify the Administrative Agent, the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and the Administrative Agent that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16Section, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would will avoid the need for giving such notice and would not, in the judgment of such Lender, will not be otherwise disadvantageous to such Lender (as determined in good faith by such Lender). If such notice is given, each Eurodollar Rate Revolving Loan Upon receipt of such Lender then outstanding notice, the Borrower shall be converted to a Base Rate Revolving Loan either (i) repay in full the then outstanding principal amount of all Eurodollar Borrowings, together with accrued interest thereon, or (ii) convert each Eurodollar Borrowing to an Alternate Base Borrowing, on either (A) the last day of the then then-current Interest Period applicable to such Eurodollar Rate Revolving Loan Borrowing if such Lender may lawfully continue to maintain and fund such Revolving Loan Eurodollar A&R Credit Agreement — Tandy Brands Borrowing to such day or (iiB) immediately if such Lender shall determine that it may not lawfully continue to fund and maintain and fund such Revolving Loan Eurodollar Borrowing to such day, provided that the Borrower shall be liable for any Funding Loss arising pursuant to such conversion.

Appears in 2 contracts

Samples: Credit Agreement (Tandy Brands Accessories Inc), Credit Agreement (Tandy Brands Accessories Inc)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Eurodollar Borrowing, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate ’s Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Borrowing and, with respect to Eurodollar Loans, for the same Interest Period, and if the affected Eurodollar Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan immediately, and, in the case of a Loan that is a Eurodollar Loan, either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 2 contracts

Samples: Credit Agreement (Molina Healthcare Inc), Credit Agreement (Molina Healthcare Inc)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its Eurodollar Rate Revolving Loans, any LIBOR Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving LIBOR Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving LIBOR Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a LIBOR Loan Revolving Borrowing, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate 's Revolving Loan shall be made as a Base Rate Loan as part of the same Revolving Borrowing for the same Interest Period and if the affected LIBOR Loan is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (ia) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving LIBOR Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (iib) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving LIBOR Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 2 contracts

Samples: Credit Agreement (STEINER LEISURE LTD), Credit Agreement (Steiner Leisure LTD)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) to make, maintain or fund its Eurodollar Rate Revolving Loans, any EurodollarSOFR Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving EurodollarSOFR Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving EurodollarSOFR Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a EurodollarSOFR Borrowing, such Lender Lender’s Loan shall use reasonable efforts (consistent with its internal policy be made as a Base Rate Loan as part of the same Borrowing for the same Interest Period and legal and regulatory restrictions applicable to if the affected EurodollarSOFR Loan is then outstanding, such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving EurodollarSOFR Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving EurodollarSOFR Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, designate a different Applicable Lending Office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Atmos Energy Corp), Revolving Credit Agreement (Atmos Energy Corp)

Illegality. If due to any Change in Lender determines that any Law has made it shall become unlawful unlawful, or impossible that any Governmental Authority has asserted that it is unlawful, for any Lender (or its Eurodollar applicable Lending Office) Office to make, maintain or fund its Eurodollar Eurocurrency Rate Revolving Loans, and or to determine or charge interest rates based upon the Eurocurrency Rate, then, on notice thereof by such Lender shall so notify to the Parent Borrower through the Administrative Agent, the Administrative Agent any obligation of such Lender to make or continue Eurocurrency Rate Loans or to convert Base Rate Loans to Eurocurrency Rate Loans shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, be suspended until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Parent Borrower that the circumstances giving rise to such suspension determination no longer exist. Upon receipt of such notice, the obligation Parent Borrower shall upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all applicable Eurocurrency Rate Loans of such Lender to make Eurodollar Base Rate Revolving Loans, or to Convert outstanding Revolving Loans into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to the Administrative Agent pursuant to this Section 2.16, such Lender shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each Eurodollar Rate Revolving Loan of such Lender then outstanding shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan therefor, if such Lender may lawfully continue to maintain and fund such Revolving Loan Eurocurrency Rate Loans to such day day, or (ii) immediately promptly, if such Lender shall determine that it may not lawfully continue to maintain such Eurocurrency Rate Loans. Upon any such prepayment or conversion, the Parent Borrower shall also pay accrued interest on the amount so prepaid or converted and fund all amounts due, if any, in connection with such Revolving Loan prepayment or conversion under Section 3.05. Each Lender agrees to designate a different Lending Office if such designation will avoid the need for such notice and will not, in the good faith judgment of such Lender, otherwise be materially disadvantageous to such dayLender.

Appears in 2 contracts

Samples: Credit Agreement (TC3 Health, Inc.), Credit Agreement (Change Healthcare Holdings, Inc.)

Illegality. If due to Notwithstanding any Change other provision of this Agreement, if any Lender determines that the introduction of or any change in Law or in the interpretation of any law, treaty or governmental rule, regulation or order after the Original Effective Date shall make it unlawful, or any central bank or other Governmental Authority shall become unlawful or impossible assert that it is unlawful, for any Lender (or its Eurodollar Lending Office) Office to make, maintain or fund its make Eurodollar Rate Revolving Loans or to continue to fund or maintain Eurodollar Rate Loans, then, on notice thereof and demand therefor by such Lender shall so notify to the Administrative Borrower through the Administrative Agent, the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and the Administrative Agent that the circumstances giving rise to such suspension no longer exist, (i) the obligation of such Lender to make or to continue Eurodollar Rate Revolving Loans, or Loans and to Convert outstanding Revolving convert Base Rate Loans into Eurodollar Rate Revolving Loans, Loans shall be suspended. Before giving , and each such Lender shall make a Base Rate Loan as part of any notice to requested Borrowing of Eurodollar Rate Loans and (ii) if the affected Eurodollar Rate Loans are then outstanding, the Administrative Agent pursuant to Borrower shall immediately convert each such Loan into a Base Rate Loan. If at any time after a Lender gives notice under this Section 2.162.13(d) such Lender determines that it may lawfully make Eurodollar Rate Loans, such Lender shall use reasonable efforts (consistent with its internal policy promptly give notice of that determination to the Administrative Borrower and legal the Administrative Agent, and regulatory restrictions applicable the Administrative Agent shall promptly transmit the notice to each other Lender. The Administrative Borrower’s right to request, and such Lender) ’s obligation, if any, to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each make Eurodollar Rate Revolving Loan of such Lender then outstanding Loans shall thereupon be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan to such dayrestored.

Appears in 2 contracts

Samples: Credit Agreement (Technical Olympic Usa Inc), Revolving Credit Agreement (Tousa Inc)

Illegality. If due to any Change in Law shall make it shall become unlawful or impossible for any Lender (to perform any of its obligations hereunder or its Eurodollar Lending Office) to make, maintain or fund its any Eurodollar Rate Revolving Loans, Loan and such Lender shall so notify the Administrative Agent, the Administrative Agent shall forthwith promptly give notice thereof to the other Lenders Borrower and the Borrowerother Lenders, whereupon, whereupon until such Lender notifies the Borrower Administrative Agent and the Administrative Agent Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Rate Revolving Loans, or to Convert continue or convert outstanding Revolving Loans as or into Eurodollar Rate Revolving Loans, shall be suspended. Before giving any notice to In the Administrative Agent pursuant to this Section 2.16case of the making of a Borrowing of Eurodollar Rate Loans, such Lender Lender’s Revolving Loan shall use reasonable efforts (consistent with its internal policy and legal and regulatory restrictions applicable to such Lender) to designate be made as a different Eurodollar Lending Office Base Rate Loan as part of the same Borrowing of Revolving Loans for the same Interest Period and, if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each affected Eurodollar Rate Revolving Loan of is then outstanding, such Lender then outstanding Loan shall be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day date or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Eurodollar Rate Loan to such daydate. Notwithstanding the foregoing, the affected Lender shall, prior to giving such notice to the Administrative Agent, use reasonable efforts to designate a different applicable lending office if such designation would avoid the need for giving such notice and if such designation would not otherwise be disadvantageous to such Lender in the good faith exercise of its discretion.

Appears in 2 contracts

Samples: Credit Agreement (Air Transport Services Group, Inc.), Credit Agreement (Air Transport Services Group, Inc.)

Illegality. If due to Notwithstanding any other provision of this Agreement, if any Lender determines that a Change in Law shall make it shall become unlawful or impossible for any Lender (or its Eurodollar Lending Office) applicable lending office to make, maintain or fund its make Eurodollar Rate Revolving Loans or to continue to fund or maintain Eurodollar Rate Loans, then, on notice thereof and demand therefor by such Lender shall so notify to the Parent Borrower through the Administrative Agent, the Administrative Agent shall forthwith give notice thereof to the other Lenders and the Borrower, whereupon, until such Lender notifies the Borrower and the Administrative Agent that the circumstances giving rise to such suspension no longer exist, (i) the obligation of such Lender to make or to continue Eurodollar Rate Revolving Loans, or Loans and to Convert outstanding Revolving convert Base Rate Loans into Eurodollar Rate Revolving Loans, Loans shall be suspended, and each such Lender shall make a Base Rate Loan as part of any requested Borrowing of Eurodollar Rate Loans and (ii) if the affected Eurodollar Rate Loans are then outstanding, each Borrower shall immediately convert each such Loan into a Base Rate Loan. Before giving If, at any time after a Lender gives notice to the Administrative Agent pursuant to under this Section 2.16clause (d), such Lender determines that it may lawfully make Eurodollar Rate Loans, such Lender shall use reasonable efforts (consistent with its internal policy promptly give notice of that determination to the Parent Borrower and legal the Administrative Agent, and regulatory restrictions applicable the Administrative Agent shall promptly transmit the notice to each other Lender. The Borrowers’ right to request, and such Lender) ’s obligation, if any, to designate a different Eurodollar Lending Office if such designation would avoid the need for giving such notice and would not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such notice is given, each make Eurodollar Rate Revolving Loan of such Lender then outstanding Loans shall thereupon be converted to a Base Rate Revolving Loan either (i) on the last day of the then current Interest Period applicable to such Eurodollar Rate Revolving Loan if such Lender may lawfully continue to maintain and fund such Revolving Loan to such day or (ii) immediately if such Lender shall determine that it may not lawfully continue to maintain and fund such Revolving Loan to such day.restored. Exhibit 10.1

Appears in 2 contracts

Samples: Revolving Credit Agreement (Boardwalk Pipeline Partners, LP), Revolving Credit Agreement (Boardwalk Pipeline Partners, LP)

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