Common use of LIBOR Rate Lending Unlawful Clause in Contracts

LIBOR Rate Lending Unlawful. If Lender shall determine (which determination shall, upon notice thereof to Borrower, be conclusive and binding on Borrower) that the introduction of or any change in or in the interpretation of any law, rule, regulation or guideline (whether or not having the force of law) makes it unlawful, or any central bank or other Governmental Authority asserts that it is unlawful, for Lender to make, continue or maintain any LIBOR Rate Loan as a LIBOR Rate Loan of a certain duration, the obligation of Lender to make, continue or maintain any such LIBOR Rate Loan shall, upon such determination, forthwith be suspended until Lender shall notify Borrower that the circumstances causing such suspension no longer exist, and any LIBOR Rate Loan of such type automatically shall convert into a Prime Rate Loan at the end of the then current LIBOR Interest Period with respect thereto or sooner, if required by such law or assertion.

LIBOR Rate Lending Unlawful. If Lender shall determine (which determination shall, upon notice thereof to Borrower, Borrower be conclusive and binding on Borrower) that the introduction of or any change in or in the interpretation of any law, rule, regulation or guideline guideline, (whether or not having the force of law) makes it unlawful, or any central bank or other Governmental Authority governmental authority asserts that it is unlawful, for Lender to make, continue or maintain any LIBOR Rate the Loan as as, or to convert the Loan into, a LIBOR Rate Loan of a certain durationLoan, the obligation of Lender to make, continue or maintain then any such LIBOR Rate Loan shall, upon such determination, forthwith be suspended until Lender shall notify Borrower that the circumstances causing such suspension no longer exist, and any all LIBOR Rate Loan Loans of such type shall automatically shall convert into a Prime Rate Loan Loans at the end of the then current LIBOR Interest Period Periods with respect thereto or sooner, if required by such law or and assertion.

LIBOR Rate Lending Unlawful. If Lender Bank shall determine (which determination shall, upon notice thereof to Borrower, Borrower be conclusive and binding on Borrower) that the introduction of at or any change in or in the interpretation of any law, rule, regulation or guideline guideline, (whether or not having the force of law) makes it unlawful, or any central bank or other Governmental Authority governmental authority asserts that it is unlawful, for Lender Bank to make, continue or maintain any LIBOR Rate the Loan as as, or to convert the Loan into, a LIBOR Rate Loan of a certain durationLoan, the obligation of Lender to make, continue or maintain then any such LIBOR Rate Loan Loans shall, upon such determination, forthwith be suspended until Lender the Bank shall notify the Borrower that the circumstances causing such suspension no longer exist, and any all LIBOR Rate Loan Loans of such type shall automatically shall convert into a Prime Rate Loan Loans at the end of or the then current LIBOR Interest Period Periods with respect thereto or sooner, if required by such law or and assertion.

LIBOR Rate Lending Unlawful. If the Lender shall determine (which determination shall, upon notice thereof to Borrower, the Borrower be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law, rule, regulation or guideline guideline, (whether or not having the force of law) makes it unlawful, or any central bank or other Governmental Authority governmental authority asserts that it is unlawful, for the Lender to make, continue or maintain any LIBOR Rate the Loan as as, or to convert the Loan into, a LIBOR Rate Loan of a certain durationLoan, the obligation of Lender to make, continue or maintain then any such LIBOR Rate Loan Loans shall, upon such determination, forthwith be suspended until the Lender shall notify the Borrower that the circumstances causing such suspension no longer exist, and any all LIBOR Rate Loan Loans of such type shall automatically shall convert into a Prime Rate Loan Loans at the end of the then current LIBOR Interest Period Periods with respect thereto or sooner, if required by such law or and assertion.

LIBOR Rate Lending Unlawful. If the Lender shall reasonably determine (which determination shall, upon notice thereof to Borrower, be conclusive and binding on Borrower) that the introduction of or any change in or in the interpretation of any law, rule, regulation or guideline (whether or not having the force of law) ), makes it unlawful, or any central bank or other Governmental Authority governmental authority asserts that it is unlawful, for the Lender to make, continue or maintain any LIBOR Rate the Loan as a LIBOR Rate Loan of a certain durationLoan, the obligation of Lender to make, continue or maintain then any such LIBOR Rate Loan shall, upon such determination, forthwith be suspended until the Lender shall notify Borrower that the circumstances causing such suspension no longer exist, and any LIBOR all amounts outstanding under the Note shall automatically bear interest at the Alternate Rate Loan of such type automatically shall convert into a Prime Rate Loan (as defined in the Note) plus two hundred (200) basis points at the end of the then current LIBOR Interest Period (as defined in the Note) with respect thereto or sooner, if required by such law or and assertion.

LIBOR Rate Lending Unlawful. If Lender Bank shall determine (which determination shall, upon notice thereof to Borrower, Borrower be conclusive and binding on Borrower) that the introduction of or any change in or in the interpretation of any law, rule, regulation or guideline guideline, (whether or not having the force of law) makes it unlawful, or any central bank or other Governmental Authority governmental authority asserts that it is unlawful, for Lender Bank to make, continue or maintain any LIBOR Rate the Loan as as, or to convert the Loan into, a LIBOR Rate Loan of a certain durationLoan, the obligation of Lender to make, continue or maintain then any such LIBOR Rate Loan Loans shall, upon such determination, forthwith be suspended until Lender the Bank shall notify the Borrower that the circumstances causing such suspension no longer exist, and any all LIBOR Rate Loan Loans of such type shall automatically shall convert into a Prime Rate Loan Loans at the end of the then current LIBOR Interest Period Periods with respect thereto or sooner, if required by such law or and assertion.. Unavailability of LIBOR Rate. If Bank shall have determined that:

LIBOR Rate Lending Unlawful. If the Lender shall reasonably determine (which determination shall, upon notice thereof to Borrower, be conclusive and binding on Borrower) that the introduction of or any change in or in the interpretation of any law, rule, regulation or guideline (whether or not having the force of law) ), makes it unlawful, or any central bank or other Governmental Authority governmental authority asserts that it is unlawful, for the Lender to make, continue or maintain any LIBOR Rate Loan as as, or to convert such Loan into, a LIBOR Rate Loan of a certain durationLoan, the obligation of Lender to make, continue or maintain then any such LIBOR Rate Loan shall, upon such determination, forthwith be suspended until the Lender shall notify Borrower that the circumstances causing such suspension no longer exist, and any all LIBOR Rate Loan Loans of such type shall automatically shall convert into a Prime Rate Loan as provided in the Note at the end of the then current LIBOR Interest Period Periods (as defined in the Note) with respect thereto or sooner, if required by such law or and assertion.

LIBOR Rate Lending Unlawful. If Lender the Bank shall determine (which determination shall, upon notice thereof to Borrower, the Borrower be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law, rule, regulation or guideline guideline, (whether or not having the force of law) makes it unlawful, or any central bank or other Governmental Authority governmental authority asserts that it is unlawful, for Lender the Bank to make, continue or maintain any LIBOR Rate the Loan as as, or to convert the Loan into, a LIBOR Rate Loan of a certain durationLoan, the obligation obligations of Lender the Bank to make, continue continue, maintain or maintain any such convert the Loan into a LIBOR Rate Loan shall, upon such determination, forthwith be suspended until Lender the Bank shall notify the Borrower that the circumstances causing such suspension no longer exist, and any if the Loan is then presently a LIBOR Rate Loan of such type Loan, it shall automatically shall convert into a Prime Rate Loan at the end of the then current LIBOR Interest Period with respect thereto or sooner, if required by such law or assertion.

LIBOR Rate Lending Unlawful. If Lender shall determine (which determination shall, upon notice thereof at any time due to Borrower, be conclusive and binding on Borrower) that the introduction of or any change in or in the interpretation of any new law, rule, regulation treaty or guideline (whether or not having the force of law) makes it unlawfulregulation, or any central bank interpretation thereof by any governmental or other Governmental Authority asserts that regulatory authority charged with the administration thereof, or for any other reason arising subsequent to the date hereof, it is unlawful, shall become unlawful for the Lender to make, continue or maintain any LIBOR Rate Loan as fund a LIBOR Rate Loan of a certain durationwhich it has committed to make hereunder, the obligation of the Lender to make, continue or maintain any such provide a LIBOR Rate Loan shall, upon the happening of such determinationevent, forthwith be suspended until for the duration of such illegality. If any such change shall make it unlawful for the Lender shall to maintain a LIBOR Loan previously made by it hereunder, the Lender shall, upon the happening of such event, notify the Borrower that thereof in writing stating the circumstances causing such suspension no longer existreasons therefor, and any LIBOR Rate Loan the Borrower shall, on the earlier of such type automatically shall convert into a Prime Rate Loan at (i) the end last day of the then current LIBOR Interest Period with respect thereto or sooner, (ii) if required by such law law, regulation or assertioninterpretation, on such date as shall be specified in such notice, either convert such unlawful loans to Prime Rate Loan or prepay the entire amount of a LIBOR Loan, without any penalty whatsoever to such Lender in full.

LIBOR Rate Lending Unlawful. If Lender the Bank shall determine (which determination shall, upon notice thereof to Borrower, the Company be conclusive and binding on Borrowerthe Company) that the introduction of or any change in or in the interpretation of any law, rule, regulation or guideline guideline, (whether or not having the force of law) makes it unlawful, or any central bank or other Governmental Authority governmental authority asserts that it is unlawful, for Lender the Bank to make, continue or maintain any LIBOR Rate Loan as a LIBOR Rate Loan of a certain duration, the obligation obligations of Lender the Bank to make, continue or maintain any such LIBOR Rate Loan Loans shall, upon such determination, forthwith be suspended until Lender the Bank shall notify Borrower the Company that the circumstances causing such suspension no longer exist, and any all LIBOR Rate Loan Loans of such type shall automatically shall convert into a Prime Rate an ABR Loan at the end of the then current LIBOR Interest Period Periods with respect thereto or sooner, if required by such law or assertion.

LIBOR Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to Borrowerthe Borrowers and the Administrative Agent, be conclusive and binding on Borrowerthe Borrowers) that the introduction of or any change in or in the interpretation of any law, rule, regulation or guideline (whether or not having the force of law) law makes it unlawful, or any central bank or other Governmental Authority asserts that it is unlawful, for such Lender to make or continue any Loan as, or to convert any Loan into, a LIBOR Rate Loan, the obligations of such Lender to make, continue or maintain any LIBOR Rate Loan as a LIBOR Rate Loan of a certain duration, the obligation of Lender to make, continue or maintain convert any such LIBOR Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify Borrower the Administrative Agent that the circumstances causing such suspension no longer exist, and any (a) all outstanding LIBOR Rate Loan of Loans denominated in Dollars payable to such type Lender shall automatically shall convert into a Prime Base Rate Loan Loans at the end of the then current LIBOR Interest Period Periods with respect thereto or sooner, if required by such law or assertion, and (b) all LIBOR Rate Loans denominated in any Alternate Currency shall automatically become due and payable at the end of the then current Interest Periods with respect thereto or sooner, if required by applicable law.

LIBOR Rate Lending Unlawful. If the Lender shall determine (which determination shall, upon notice thereof to Borrower, the Borrower be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law, rule, regulation or guideline guideline, (whether or not having the force of law) makes it unlawful, or any central bank or other Governmental Authority governmental authority asserts that it is unlawful, for the Lender to make, continue or maintain any LIBOR Rate the Loan as as, or to convert the Loan into, a LIBOR Rate Loan of a certain durationLoan, the obligation of Lender to make, continue or maintain then any such LIBOR Rate Loan Loans shall, upon such determination, forthwith be suspended until the Lender shall notify the Borrower that the circumstances causing such suspension no longer exist, and any all LIBOR Rate Loan Loans of such type shall automatically shall convert into a Prime Rate Loan Loans at the end of the then current LIBOR Interest Period Periods with respect thereto or sooner, if required by such law or and assertion.

LIBOR Rate Lending Unlawful. If Lender the Bank shall determine (which determination shall, upon notice thereof to the Borrower, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law, rule, regulation or guideline guideline, (whether or not having the force of law) makes it unlawful, or any central bank or other Governmental Authority governmental authority asserts that it is unlawful, for Lender the Bank to make, continue or maintain any LIBOR Rate the Term Loan as a LIBOR Rate Loan of a certain durationLoan, the obligation obligations of Lender the Bank to make, continue or maintain any such the Term Loan as a LIBOR Rate Loan shall, upon such determination, forthwith be suspended until Lender the Bank shall notify the Borrower that the circumstances causing such suspension no longer exist, and any LIBOR Rate all the Term Loan of such type shall automatically shall convert into a Prime Rate Loan at the end of the then current LIBOR Interest Period with respect thereto or sooner, if required by such law or assertion.

LIBOR Rate Lending Unlawful. If the Lender shall determine (which determination shall, upon notice thereof to Borrower, the Borrowers be conclusive and binding on Borrowerthe Borrowers) that the introduction of or any change in or in the interpretation of any law, rule, regulation or guideline guideline, (whether or not having the force of law) makes it unlawful, or any central bank or other Governmental Authority governmental authority asserts that it is unlawful, for the Lender to make, continue or maintain this Note as, or to convert any LIBOR Rate Loan as principal hereunder into, a LIBOR Rate Loan of a certain durationLoan, the obligation of Lender to make, continue or maintain then any such LIBOR Rate Loan Loans, as applicable, shall, upon such determination, forthwith be suspended until the Lender shall notify Borrower the Borrowers that the circumstances causing such suspension no longer exist, and any all LIBOR Rate Loan Loans of such type shall automatically shall convert into a Prime Rate Loan Loans at the end of the then current LIBOR Interest Period Periods with respect thereto or sooner, if required by such law or and assertion.

LIBOR Rate Lending Unlawful. If any Lender shall determine (which determination shall, upon notice thereof to Borrowerthe Borrower and the Administrative Agent, be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law, rule, regulation or guideline (whether or not having the force of law) law makes it unlawful, or any central bank or other Governmental Authority asserts that it is unlawful, for such Lender to make or continue any Term Loan as, or to convert any Term Loan into, a LIBOR Rate Loan, the obligations of such Lender to make, continue or maintain any LIBOR Rate Loan as a LIBOR Rate Loan of a certain duration, the obligation of Lender to make, continue or maintain convert any such LIBOR Rate Loan shall, upon such determination, forthwith be suspended until such Lender shall notify Borrower the Administrative Agent that the circumstances causing such suspension no longer exist, and any all outstanding LIBOR Rate Loan of Loans payable to such type Lender shall automatically shall convert into a Prime Base Rate Loan Loans at the end of the then current LIBOR Interest Period Periods with respect thereto or sooner, if required by such law or assertion.

LIBOR Rate Lending Unlawful. If the Lender shall determine (which determination shall, upon notice thereof to Borrower, the Borrower be conclusive and binding on the Borrower) that the introduction of or any change in or in the interpretation of any law, rule, regulation or guideline guideline, (whether or not having the force of law) makes it unlawful, or any central bank or other Governmental Authority governmental authority asserts that it is unlawful, for the Lender to make, continue or maintain any LIBOR Rate Loan as as, or to convert any Revolving Advance into, a LIBOR Rate Loan of a certain duration, the obligation obligations of the Lender to make, continue continue, maintain or maintain convert into any such LIBOR Rate Loan Loans shall, upon such determination, forthwith be suspended until the Lender shall notify the Borrower that the circumstances causing such suspension no longer exist, and any all LIBOR Rate Loan Loans of such type shall automatically shall convert into a Prime Rate Loan Loans at the end of the then current LIBOR Interest Period Periods with respect thereto or sooner, if required by such law or assertion.