Suspension of LIBOR Loans. In the event CNB, on any Business Day, is unable to determine the LIBOR Base Rate applicable for a new, continued, or converted LIBOR Loan for any reason, or any law, regulation, or governmental order, rule or determination, makes it unlawful for CNB to make a LIBOR Loan, Borrower’s right to select LIBOR Loans shall be suspended until CNB is again able to determine the LIBOR Base Rate or make LIBOR Loans, as the case may be. During such suspension, new Loans, outstanding Prime Loans and LIBOR Loans whose Interest Periods terminate may only be Prime Loans.
Appears in 6 contracts
Samples: Revolving Note (Sm&A), Sm&A, Sm&A
Suspension of LIBOR Loans. In the event If CNB, on any Business Day, is unable to determine the LIBOR Base Rate applicable for a new, continued, or converted LIBOR Loan for any reason, or any law, regulation, or governmental order, rule or determination, makes it unlawful for CNB to make a LIBOR Loan, Borrower’s right to select LIBOR Loans shall will be suspended until CNB is again able to determine the LIBOR Base Rate or make LIBOR Loans, as the case may be. During such suspension, new Loans, outstanding Prime Loans Loans, and LIBOR Loans whose Interest Periods terminate may only be Prime Loans.
Appears in 5 contracts
Samples: Credit Agreement (Sm&A), Credit and Security Agreement (RealD Inc.), Credit and Security Agreement (RealD Inc.)
Suspension of LIBOR Loans. In the event CNB, on any Business Day, is unable to determine the LIBOR Base Rate applicable for a new, continued, or converted LIBOR Loan for any reason, or any law, regulation, or governmental order, rule or determination, makes it unlawful for CNB to make a LIBOR Loan, Borrower’s right to select LIBOR Loans shall will be suspended until CNB is again able to determine the LIBOR Base Rate or make LIBOR Loans, as the case may be. During such suspension, new Loans, outstanding Prime Loans and LIBOR Loans whose Interest Periods terminate may only be Prime Loans.
Appears in 5 contracts
Samples: Credit and Security Agreement (Tier Technologies Inc), Credit Agreement (Digital Insight Corp), Credit Agreement (Highbury Financial Inc)
Suspension of LIBOR Loans. In the event If CNB, on any Business Day, is unable to determine the LIBOR Base Rate applicable for a new, continued, or converted LIBOR Loan for any reason, or any law, regulation, or governmental order, rule or determination, makes it unlawful for CNB to make a LIBOR Loan, Borrower’s 's right to select LIBOR Loans shall will be suspended until CNB is again able to determine the LIBOR Base Rate or make LIBOR Loans, as the case may be. During such suspension, new Loans, outstanding Prime Loans Loans, and LIBOR Loans whose Interest Periods terminate may only be Prime Loans.
Appears in 2 contracts
Samples: Accounts Receivable and Inventory Loan Agreement (Athanor Group Inc), Forbearance Agreement (Signature Eyewear Inc)
Suspension of LIBOR Loans. In the event CNB, on any Business Day, is unable to determine the LIBOR Base Rate applicable for a new, continued, or converted LIBOR Loan for any reason, or any law, regulation, or governmental order, rule or determination, makes it unlawful for CNB to make a LIBOR Loan, Borrower’s 's right to select LIBOR Loans shall will be suspended until CNB is again able to determine the LIBOR Base Rate or make LIBOR Loans, as the case may be. During such suspension, new Loans, outstanding Prime Loans and LIBOR Loans whose Interest Periods terminate may only be Prime Loans.
Appears in 1 contract
Suspension of LIBOR Loans. In the event If CNB, on any Business Day, is unable to determine the LIBOR Base Rate applicable for a new, continued, or converted LIBOR Loan for any reason, or any law, regulation, or governmental order, rule or determination, makes it unlawful for CNB to make a LIBOR Loan, Borrower’s 's right to select LIBOR Loans shall Loan will be suspended until CNB is again able to determine the LIBOR Base Rate or make LIBOR Loans, as the case may be. During such suspension, new Loans, outstanding Prime Loans Loans, and LIBOR Loans whose Interest Periods terminate may only be Prime Loans.
Appears in 1 contract
Samples: Accounts Receivable and Inventory Loan Agreement (Signature Eyewear Inc)
Suspension of LIBOR Loans. In the event If CNB, on any Business Day, is unable to determine the LIBOR Base Rate applicable for a new, continued, or converted LIBOR Loan for any reason, or any law, regulation, or governmental order, rule or determination, makes it unlawful for CNB to make a LIBOR Loan, Borrower’s 's right to select LIBOR Loans shall will be suspended until CNB is again able to determine the LIBOR Base Rate or make LIBOR LoansLoan, as the case may be. During such suspension, new Loans, outstanding Prime Loans Loans, and LIBOR Loans whose Interest Periods terminate may only be Prime Loans.
Appears in 1 contract
