Common use of Limitation of Requests and Elections Clause in Contracts

Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, if, upon receiving a request for a Eurodollar Rate Loan pursuant to Section 2.4, or a request for a continuation of a Eurodollar Rate Loan as a Eurodollar Rate Loan, or a request for a conversion of a Floating Rate Loan to a Eurodollar Rate Loan pursuant to Section 2.7, (a) deposits in Dollars for periods comparable to the Interest Period elected by the Company are not available to the Bank in the London interbank market, or (b) the Eurodollar Rate will not adequately and fairly reflect the cost to the Bank of making, funding or maintaining the related Eurodollar Rate Loan, or (c) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreement, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by the Bank with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, the Bank to make or fund the relevant Loan or to continue such Loan as a Eurodollar Rate Loan or to convert a Loan to a Eurodollar Rate Loan, then the Company shall not be entitled, so long as such circumstances continue, to request a Eurodollar Rate Loan pursuant to Section 2.4 or a continuation of or conversion to a Eurodollar Rate Loan pursuant to Section 2.7. In the event that such circumstances no longer exist, the Bank shall again consider requests for Eurodollar Rate Loans pursuant to Section 2.4, and requests for continuations of and conversions to Eurodollar Rate Loans pursuant to Section 2.7.

Appears in 2 contracts

Samples: Credit Agreement (Learning Care Group, Inc), Credit Agreement (Childtime Learning Centers Inc)

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Limitation of Requests and Elections. (a) Notwithstanding any other provision of this Agreement to the contrary, if, upon receiving a request for a Eurodollar Fixed Rate Loan pursuant to Section 2.4, or a request for a continuation of a Eurodollar Fixed Rate Loan as a Eurodollar Fixed Rate LoanLoan of the then existing type, or a request for conversion of a Fixed Rate Loan of one type to a Fixed Rate Loan of another type, or a request for a conversion of a Floating Rate Loan to a Eurodollar Fixed Rate Loan pursuant to Section 2.7, (ai) in the case of any Eurodollar Rate Loan, deposits in Dollars for periods comparable to the Interest Period elected by the Company are not available to the any Bank in the London relevant interbank market, or (bii) the Eurodollar Rate will not adequately and fairly reflect the cost to the any Bank of making, funding or maintaining the related Eurodollar Rate Loan, or (ciii) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreementtreaty, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by the any Bank with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, the for any Bank (A) to make or fund the relevant Fixed Rate Loan or (B) to continue such Fixed Rate Loan as a Eurodollar Fixed Rate Loan of the then existing type or (C) to convert a Loan to such a Eurodollar Fixed Rate Loan, then the Company shall not be entitled, so long as such circumstances continue, to request a Eurodollar Fixed Rate Loan of the affected type pursuant to Section 2.4 or a continuation of or conversion to a Eurodollar Fixed Rate Loan of the affected type pursuant to Section 2.7. In the event that such circumstances no longer exist, the Bank Banks shall again consider requests for Eurodollar or Fixed Rate Loans of the affected type pursuant to Section 2.4, and requests for continuations of and conversions to Eurodollar Fixed Rate Loans of the affected type pursuant to Section 2.7.

Appears in 2 contracts

Samples: Credit Agreement (Monarch Machine Tool Co), Credit Agreement (Monarch Machine Tool Co)

Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, if, upon receiving a request for a Eurodollar Rate Loan pursuant to Section 2.4, or a request for a continuation of a Eurodollar Rate Loan as a Eurodollar Rate Loan, Loan or a request for a conversion of a Floating Rate Loan to a Eurodollar Rate Loan pursuant to Section 2.7, (a) deposits in Dollars for periods comparable to the Interest Period elected by the Company are not available to the Bank in the London interbank market, or (b) the Eurodollar Rate applicable interest rate will not adequately and fairly reflect the cost to the Bank of making, funding or maintaining the its related Eurodollar Rate Loan, Loan or (c) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreementtreaty, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by the Bank with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, for the Bank (i) to make or fund the relevant Eurodollar Rate Loan or (ii) to continue such Eurodollar Rate Loan as a Eurodollar Rate Loan or (iii) to convert a Loan to such a Eurodollar Rate Loan, then the Company shall not be entitled, so long as such circumstances continue, to request a Eurodollar Rate Loan pursuant to Section 2.4 or a continuation of or conversion to a Eurodollar Rate Loan pursuant to Section 2.72.4. In the event that such circumstances no longer exist, the Bank shall again consider requests for Eurodollar Rate Loans pursuant to Section 2.4, and requests for continuations of and conversions to Eurodollar Rate Loans pursuant to Section 2.7.

Appears in 1 contract

Samples: Loan Agreement (Vsi Holdings Inc)

Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, if, upon receiving a request for a continuation of a Eurodollar Rate Loan pursuant to Section 2.4Borrowing as a Eurodollar Rate Borrowing, or a request for a continuation of a Eurodollar Rate Loan as a Eurodollar Rate Loan, or a request for a conversion of a Floating Rate Loan Borrowing to a Eurodollar Rate Loan pursuant to Section 2.7Borrowing, (a) deposits in Dollars for periods comparable to the Interest Period elected by the Company are not available to one or more of the Bank Banks in the London interbank market, or (b) the Eurodollar Rate will not adequately and fairly reflect the cost to the any Bank of making, funding or maintaining the related Eurodollar Rate Loan, Borrowing or (c) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreement, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by the any Bank with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, the any Bank to make or fund the relevant Loan Borrowing or to continue such Loan Borrowing as a Eurodollar Rate Loan Borrowing of the then existing type or to convert a Loan Borrowing to such a Eurodollar Rate LoanBorrowing, then the Company shall not be entitled, so long as such circumstances continue, to request a Eurodollar Rate Loan Borrowing of the affected type pursuant to Section 2.4 or a continuation of or conversion to a Eurodollar Rate Loan Borrowing of the affected type pursuant to Section 2.7. In the event that such circumstances no longer exist, the Bank Banks shall again consider requests for Eurodollar Rate Loans Borrowings of the affected type pursuant to Section 2.4, and requests for continuations of and conversions to Eurodollar Rate Loans Borrowings of the affected type pursuant to Section 2.7.

Appears in 1 contract

Samples: Credit Agreement (Aici Capital Trust)

Limitation of Requests and Elections. (a) Notwithstanding any other provision of this Agreement to the contrary, if, upon receiving a request for a Eurodollar Rate Loan Borrowing pursuant to Section 2.4, or a request for a continuation of a Eurodollar Rate Loan as a Eurodollar Rate Loan, or a request for a conversion of a Floating Rate Loan to a Eurodollar Rate Loan pursuant to Section 2.7, (a) deposits in Dollars for periods comparable to the Eurodollar Interest Period elected by the Company are not available to the any Bank in the London relevant interbank or secondary market, or (b) the Eurodollar Rate applicable interest rate will not adequately and fairly reflect the cost to the any Bank of making, funding or maintaining the related Eurodollar Rate LoanBorrowing, or (c) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreementtreaty, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by the any Bank with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, the for any Bank (i) to make or fund the relevant Loan Borrowing or (ii) to continue such Loan as a Eurodollar Rate Loan or to convert a Loan to a Eurodollar Rate LoanBorrowing, then the Company shall not be entitled, so long as such circumstances continue, to request a Eurodollar Rate Loan Borrowing pursuant to Section 2.4 or a continuation of or conversion to a Eurodollar Rate Loan Borrowing pursuant to Section 2.7. In the event that such circumstances no longer exist, the Bank Banks shall again consider requests for Eurodollar Rate Loans Borrowings of the affected type pursuant to Section 2.4, and requests for continuations of and conversions to Eurodollar Rate Loans Borrowings of the affected type pursuant to Section 2.7.

Appears in 1 contract

Samples: Guaranty Agreement (Amcast Industrial Corp)

Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, if, upon receiving a request for a Eurodollar Rate Loan pursuant to Section 2.43.1, or a request for a continuation of a Eurodollar Rate Loan as a Eurodollar Rate LoanLoan of the then existing type pursuant to Section 3.5, or a request for a conversion of a Floating Rate Loan to a Eurodollar Rate Loan pursuant to Section 2.73.5, (a) in the case of any Eurodollar Rate Loan, deposits in Dollars for periods comparable to the Interest Period elected by the Company are not available to the any Bank in the London interbank relevant inter-bank or secondary market, or (b) the Eurodollar Rate will not adequately and fairly reflect the cost to the any Bank of making, funding making or maintaining the related Eurodollar Rate Loan, as the case may be, or (c) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreementtreaty, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by the any Bank with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, the for any Bank (i) to make or fund the relevant Eurodollar Rate Loan or (ii) to continue such Eurodollar Rate Loan as a Eurodollar Rate Loan of the then existing type or (iii) to convert a Loan to such a Eurodollar Rate Loan, then the Company shall not be entitled, so long as such circumstances continue, to request a Eurodollar Rate Loan of the affected type pursuant to Section 2.4 3.1 or a continuation of or conversion to a Eurodollar Rate Loan of the affected type pursuant to Section 2.73.5. In the event that such circumstances no longer exist, the Bank Banks shall again consider requests for Eurodollar Rate Loans of the affected type pursuant to Section 2.43.1, and requests for continuations of and conversions to Eurodollar Rate Loans of the affected type pursuant to Section 2.73.5.

Appears in 1 contract

Samples: Credit Agreement (Wolverine World Wide Inc /De/)

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Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, if, upon receiving a request for a Eurodollar Rate Loan pursuant to Section 2.4, or a request for a continuation of a Eurodollar Rate Loan as a Eurodollar Rate LoanLoan of the then existing type, or a request for a conversion of a Floating Rate Loan to a Eurodollar Rate Loan pursuant to Section 2.7, (a) in the case of any Eurodollar Rate Loan, deposits in Dollars for periods comparable to the Interest Period elected by the Company are not available to the Bank any Lender in the London interbank market, or (b) the Eurodollar Rate will not adequately and fairly reflect the cost to the Bank any Lender of making, funding or maintaining the related Eurodollar Rate Loan, or (c) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreement, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by the Bank any Lender with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, the Bank (i) any Lender to make or fund the relevant Loan or to continue such Loan as a Eurodollar Rate Loan of the then existing type or to convert a Loan to such a Eurodollar Rate LoanLoan or (ii) the Company to make or any Lender to receive any payment under this Agreement at the place specified for payment hereunder or to freely convert any amount paid into Dollars at market rates of exchange or to transfer any amount paid or so converted to the address of its principal office specified in Section 8.2, then the Company shall not be entitled, so long as such circumstances continue, to request a Eurodollar Rate Loan of the affected type pursuant to Section 2.4 or a continuation of or conversion to a Eurodollar Rate Loan of the affected type pursuant to Section 2.7. In the event that such circumstances no longer exist, the Bank Lenders shall again consider requests for Eurodollar Rate Loans of the affected type pursuant to Section 2.4, and requests for continuations of and conversions to Eurodollar Rate Loans of the affected type pursuant to Section 2.7.

Appears in 1 contract

Samples: Loan Agreement (Airnet Systems Inc)

Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, if, upon receiving a request for a Eurodollar Rate Loan pursuant to Section 2.4, or a request for a continuation of a Eurodollar Rate Loan as a Eurodollar Rate Loan, or a request for a conversion of a Floating Rate Loan to a Eurodollar Rate Loan pursuant to Section 2.7, (a) deposits in Dollars for periods comparable to the Eurodollar Interest Period elected by the Company are not available to the Bank in the London interbank market, or (b) the Bank reasonably and in good faith determines that the Eurodollar Rate will not adequately and fairly reflect the cost to the Bank of making, funding or maintaining the related Eurodollar Rate Loan, such that the Bank would suffer an economic loss on such Eurodollar Rate Loan, or (c) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreementtreaty, rule or regulation (whether domestic or foreign) now or hereafter in effect, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by the Bank with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, impracticable (such that the Bank would suffer an economic loss on such Eurodollar Rate Loan) unlawful or impossible for, or shall limit or impair the ability of, for the Bank (i) to make or fund the relevant Loan or Eurodollar Rate Loan, (ii) to continue such Eurodollar Rate Loan as a Eurodollar Rate Loan Loan, or (iii) to convert a Loan to a Eurodollar Rate Loan, then the Company shall not be entitled, so long as such circumstances continue, to request a Eurodollar Rate Loan pursuant to Section 2.4 or a continuation of or conversion to a Eurodollar Rate Loan pursuant to Section 2.7. In the event that such circumstances no longer exist, the Bank shall again consider accept (subject to the provisions of this Agreement) requests for Eurodollar Rate Loans pursuant to Section 2.4, and requests for continuations of and conversions to Eurodollar Rate Loans pursuant to Section 2.7.

Appears in 1 contract

Samples: Credit Agreement (Patrick Industries Inc)

Limitation of Requests and Elections. Notwithstanding any other provision of this Agreement to the contrary, if, upon receiving a request for a Eurodollar Fixed Rate Loan pursuant to Section 2.43.1, or a request for a continuation of a Eurodollar Fixed Rate Loan as a Eurodollar Fixed Rate LoanLoan of the then existing type pursuant to Section 3.4, or a request for a conversion of a Floating Rate Loan to a Eurodollar Fixed Rate Loan pursuant to Section 2.73.4, (a) in the case of any Eurodollar Rate Loan or CD Rate Loan, deposits in Dollars for periods comparable approximately equal to the Interest Period elected by the Company are not available to the any Bank in the London relevant interbank or secondary market, or (b) the CD Rate or the Eurodollar Rate Rate, as the case may be, for periods approximately equal to the Interest Period elected by the Company will not adequately and fairly reflect the cost to the any Bank of making, funding making or maintaining the related CD Rate Loan or Eurodollar Rate Loan, as the case may be, or (c) by reason of national or international financial, political or economic conditions or by reason of any applicable law, treaty or other international agreementtreaty, rule or regulation (whether domestic or foreign) now or hereafter in effecteffect and whether or not presently applicable to any Bank, or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by the any Bank with any guideline, request or directive of such authority (whether or not having the force of law), including without limitation exchange controls, it is impracticable, unlawful or impossible for, or shall limit or impair the ability of, the for any Bank (i) to make or fund the relevant Fixed Rate Loan or (ii) to continue such Fixed Rate Loan as a Eurodollar Fixed Rate Loan of the then existing type or (iii) to convert a Loan to such a Eurodollar Fixed Rate Loan, then the Company shall not be entitled, so long as such circumstances continue, to request from each such Bank a Eurodollar Fixed Rate Loan of the affected type pursuant to Section 2.4 3.1 or a continuation of or conversion to a Eurodollar Fixed Rate Loan of the affected type pursuant to Section 2.73.4; provided, however, that nothing in this Section 5.2 shall affect such Bank's obligations under this Agreement to make or continue a Prime Rate Loan. In the event that such circumstances no longer exist, the such Bank shall again consider accept, provided that the other terms and conditions of this Agreement are satisfied, requests for Eurodollar Fixed Rate Loans of the affected type pursuant to Section 2.43.1, and requests for continuations of and conversions to Eurodollar Fixed Rate Loans of the affected type pursuant to Section 2.73.4.

Appears in 1 contract

Samples: Credit Agreement (CMS Nomeco Oil & Gas Co)

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