Common use of LIBO Rate Lending Unlawful Clause in Contracts

LIBO Rate Lending Unlawful. If as the result of any Regulatory -------------------------- Change any Bank shall determine (which determination shall, in the absence of demonstrable error, be conclusive and binding on the Borrower) that it is unlawful for any Bank to make, continue or maintain a Loan as, or to convert a Loan into, one or more LIBO Rate Loans, the obligation of the Banks under Section 4.1 to make, continue or maintain any portion of the principal amount of ----------- a Loan as, or to convert such Loan into, one or more LIBO Rate Loans shall, upon such determination (and telephonic notice thereof confirmed in writing to the Borrower), forthwith terminate, and any portion of the principal amount of all LIBO Rate Loans shall automatically convert into Base Rate Loans. If circumstances subsequently change so that the Banks shall determine that the circumstances causing such suspension no longer exist, the obligation of the Banks under Section 4.1 to make or continue Loans as, or to ----------- convert Loans into, LIBO Rate Loans shall, upon such determination (and telephonic notice thereof confirmed in writing to the Borrower), forthwith be reinstated.

LIBO Rate Lending Unlawful. If as the result of any -------------------------- Regulatory -------------------------- Change any Bank shall determine (which determination shall, in the absence of demonstrable error, be conclusive and binding on the Borrower) that it is unlawful for any Bank to make, continue or maintain a Loan as, or to convert a Loan into, one or more LIBO Rate Loans, the obligation of the Banks under Section 4.1 to make, continue or maintain any portion of the principal ----------- amount of ----------- a Loan as, or to convert such Loan into, one or more LIBO Rate Loans shall, upon such determination (and telephonic notice thereof confirmed in writing to the Borrower), forthwith terminate, and any portion of the principal amount of all LIBO Rate Loans shall automatically convert into Base Rate Loans. If circumstances subsequently change so that the Banks shall determine that the circumstances causing such suspension no longer exist, the obligation of the Banks under Section 4.1 to make or continue Loans as, or to ----------- convert Loans into, LIBO Rate Loans shall, upon such determination (and telephonic notice thereof confirmed in writing to the Borrower), forthwith be reinstated.

LIBO Rate Lending Unlawful. If as the result of any -------------------------- Regulatory -------------------------- Change any the Bank shall determine (which determination shall, in the absence of demonstrable error, be conclusive and binding on the Borrower) that it is unlawful for any the Bank to make, continue or maintain a Loan as, or to convert a Loan into, one or more LIBO Rate Loans, the obligation of the Banks Bank under Section 4.1 to make, continue or maintain any portion of the principal ----------- amount of ----------- a Loan as, or to convert such Loan into, one or more LIBO Rate Loans shall, upon such determination (and telephonic notice thereof confirmed in writing to the Borrower), forthwith terminate, and any portion of the principal amount of all a Loan then maintained as one or more LIBO Rate Loans by the Bank shall automatically convert into a Base Rate LoansLoan. If circumstances subsequently change so that the Banks Bank shall determine that the circumstances causing such suspension it is no longer existso affected, the obligation of the Banks Bank under Section 4.1 to make or continue Loans ----------- as, or to ----------- convert Loans into, LIBO Rate Loans shall, upon such determination (and telephonic notice thereof confirmed in writing to the Borrower), forthwith be reinstated.

LIBO Rate Lending Unlawful. If as the result of any -------------------------- Regulatory -------------------------- Change any the Bank shall determine (which determination shall, in the absence of demonstrable error, be conclusive and binding on the Borrower) that it is unlawful for any the Bank to make, continue or maintain a Loan as, or to convert a Loan into, one or more LIBO Rate Loans, the obligation of the Banks Bank under Section 4.1 to make, continue or maintain any portion of the principal ----------- amount of ----------- a Loan as, or to convert such Loan into, one or more LIBO Rate Loans shall, upon such determination (and telephonic notice thereof confirmed in writing to the Borrower), forthwith terminate, and any portion of the principal amount of all a Loan then maintained as one or more LIBO Rate Loans by the Bank shall automatically convert into a Base Rate LoansLoan. If circumstances subsequently change so that the Banks Bank shall determine that the circumstances causing such suspension it is no longer existso affected, the obligation of the Banks Bank under Section 4.1 to make or ----------- continue Loans as, or to ----------- convert Loans into, LIBO Rate Loans shall, upon such determination (and telephonic notice thereof confirmed in writing to the Borrower), forthwith be reinstated.