Common use of Unavailability Clause in Contracts

Unavailability. If at any time any Bank shall have determined in good faith (which determination shall be conclusive) that the making or maintenance of all or any part of such Bank's Eurodollar Loans has been made impracticable or unlawful because of compliance by such Bank in good faith with any law or guideline or interpretation or administration thereof by any official body charged with the interpretation or administration thereof or with any request or directive of such body (whether or not having the effect of law), because U.S. dollar deposits in the amount and requested maturity of such Eurodollar Loans are not available to the Bank in the London Eurodollar interbank market, or because of any other reason, then the Agent, upon notification to it of such determination by such Bank, shall forthwith advise the other Banks and the Company thereof. Upon such date as shall be specified in such notice and until such time as the Agent, upon notification to it by such Bank, shall notify the Company and the other Banks that the circumstances specified by it in such notice no longer apply, (i) notwithstanding any other provision of this Agreement, such Eurodollar Loans of such Bank shall automati cally and without requirement of notice by the Company be converted to ABR Loans and (ii) the obligation of only such Bank to allow borrowing, elections and renewals of Eurodollar Loans shall be suspended, and, if the Company shall request in a Committed Loan Request or Conversion/Continuance Request that such Bank make a Eurodollar Loan, the loan requested to be made by such Bank shall instead be made as an ABR Loan.

Appears in 4 contracts

Samples: Credit Agreement (Health Care Property Investors Inc), Revolving Credit Agreement (Health Care Property Investors Inc), Revolving Credit Agreement (Health Care Property Investors Inc)

AutoNDA by SimpleDocs

Unavailability. If at any time any Bank shall have determined in good faith (which determination shall be conclusive) that the making or maintenance of all or any part of such Bank's Eurodollar Loans has been made impracticable or unlawful because of compliance by such Bank in good faith with any law or guideline or interpretation or administration thereof by any official body charged with the interpretation or administration thereof or with any request or directive of such body (whether or not having the effect of law), because U.S. dollar deposits in the amount and requested maturity of such Eurodollar Loans are not available to the Bank in the London Eurodollar interbank market, or because of any other reason, then the Agent, upon notification to it of such determination by such Bank, shall forthwith advise the other Banks and the Company thereof. Upon such date as shall be specified in such notice and until such time as the Agent, upon notification to it by such Bank, shall notify the Company and the other Banks that the circumstances specified by it in such notice no longer apply, (i) notwithstanding any other provision of this Agreement, such Eurodollar Loans of such Bank shall automati cally automatically and without requirement of notice by the Company be converted to ABR Loans and (ii) the obligation of only such Bank to allow borrowing, elections and renewals of Eurodollar Loans shall be suspended, and, if the Company shall request in a Committed Loan Request or Conversion/Continuance Request that such Bank make a Eurodollar Loan, the loan requested to be made by such Bank shall instead be made as an ABR Loan.

Appears in 2 contracts

Samples: Credit Agreement (Health Care Property Investors Inc), Revolving Credit Agreement (Health Care Property Investors Inc)

Unavailability. If at any time any Bank Lender shall have -------------- determined in good faith (which determination shall be conclusiveconclusive in the absence of manifest error) that the making or maintenance of all or any part of such BankLender's Eurodollar Loans has been made impracticable or unlawful because of compliance by such Bank Lender in good faith with any law or guideline or interpretation or administration thereof by any official body charged with the interpretation or administration thereof or with any request or directive of such body (whether or not having the effect of law), because U.S. dollar deposits in the amount and requested maturity of such Eurodollar Loans Loan are not available to the Bank Lender in the London Eurodollar interbank market, market or because of any other reason, then the Administrative Agent, upon notification to it of such determination by such BankLender, shall forthwith advise the other Banks Lenders and the Company Borrower thereof. Upon such date as shall be specified in such notice and until such time as the Administrative Agent, upon notification to it by such BankLender, shall notify the Company Borrower and the other Banks Lenders that the circumstances specified by it in such notice no longer apply, (i) notwithstanding any other provision of this Agreement, such Eurodollar Loans Lender's portion of such Bank Eurodollar Loan shall automati cally automatically and without requirement of notice by the Company Borrower be converted to ABR Loans a Base Rate Loan and (ii) the obligation of only such Bank Lender to allow borrowing, elections and renewals of Eurodollar Loans shall be suspended, and, if the Company Borrower shall request in a Committed Loan Request notice of borrowing or Conversion/Continuance Request election request that such Bank Lender make a Eurodollar Loan, the loan requested to be made by such Bank Lender shall instead be made as an ABR a Base Rate Loan.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Insight Communications Co Inc)

Unavailability. If at any time any Bank Lender shall have determined in good faith (which determination shall be conclusive) that the making or maintenance of all or any part of such BankLender's Eurodollar Loans has been made impracticable or unlawful because of compliance by such Bank Lender in good faith with any law or guideline or interpretation or administration thereof by any official body charged with the interpretation or administration thereof or with any request or directive of such body (whether or not having the effect of law), because U.S. dollar deposits in the amount and requested maturity of such Eurodollar Loans are not available to the Bank Lender in the London Eurodollar interbank market, or because of any other reason, then the Administrative Agent, upon notification to it of such determination by such BankLender, shall forthwith advise the other Banks Lenders and the Company thereof. Upon such date as shall be specified in such notice and until such time as the Administrative Agent, upon notification to it by such BankLender, shall notify the Company and the other Banks Lenders that the circumstances specified by it in such notice no longer apply, (i) notwithstanding any other provision of this Agreement, such Eurodollar Loans of such Bank shall automati cally automatically and without requirement of notice by the Company be converted to ABR Loans and (ii) the obligation of only such Bank Lender to allow borrowing, elections and renewals of Eurodollar Loans shall be suspended, and, if the Company shall request in a Committed Loan Request or Conversion/Continuance Request that such Bank Lender make a Eurodollar Loan, the loan requested to be made by such Bank Lender shall instead be made as an ABR Loan.

Appears in 1 contract

Samples: Credit Agreement (Health Care Property Investors Inc)

Unavailability. If at any time any Bank shall have determined in good faith (which determination shall be conclusive) that the making or maintenance of all or any part of such Bank's Eurodollar Loans has been made impracticable or unlawful because of compliance by such Bank in good faith with any law or guideline or interpretation or administration thereof by any official body charged with the interpretation or administration thereof or with any request or directive of such body (whether or not having the effect of law), because U.S. dollar deposits in the amount and requested maturity of such Eurodollar Loans are not available to the Bank in the London Eurodollar interbank Interbank market, or because of any other reason, then the Agent, upon notification to it of such determination by such Bank, shall forthwith advise the other Banks and the Company thereof. Upon such date as shall be specified in such notice and until such time as the Agent, upon notification to it by such Bank, shall notify the Company and the other Banks that the circumstances specified by it in such notice no longer apply, (i) notwithstanding any other provision of this Agreement, such Eurodollar Loans of such Bank shall automati cally automatically and without requirement of notice by the Company be converted to ABR Loans and (ii) the obligation of only such Bank to allow borrowing, elections and renewals of Eurodollar Loans shall be suspended, and, if the Company shall request in a Committed Loan Request or Conversion/Continuance Request that such Bank make a Eurodollar Loan, the loan requested to be made by such Bank shall instead be made as an ABR Loan.

Appears in 1 contract

Samples: Revolving Credit Agreement (Realty Income Corp)

AutoNDA by SimpleDocs

Unavailability. If at any time any Bank shall have determined in good faith (which determination shall be conclusive) that (x) the making or maintenance of all or any part of such Bank's Eurodollar Loans has been made impracticable or unlawful because of compliance by such Bank in good faith with any law or guideline or any interpretation or administration thereof by any official body charged with the interpretation or administration thereof or with any request or directive of such body (whether or not having the effect of law), because or (y) that LIBOR would not accurately reflect the cost to such Bank of making, continuing or converting any Eurodollar Loan by reason of such compliance, or by reason of the unavailability of appropriate quotations, or by reason of the unavailability of U.S. dollar deposits in the appropriate amount and requested maturity of such Eurodollar Loans are not available to the Bank in the London Eurodollar interbank market, or because of any other reason, then the Administrative Agent, upon notification to it of such determination by such Bank, shall forthwith advise the other Banks and the Company thereof. Upon such date as shall be specified in such notice and until such time as the Administrative Agent, upon notification to it by such Bank, shall notify the Company and the other Banks that the circumstances specified by it in such notice no longer apply, (i) notwithstanding any other provision of this Agreement, such Eurodollar Loans of such Bank shall automati cally automatically and without requirement of notice by the Company be converted to ABR Loans and (ii) the obligation of only such Bank to allow borrowing, elections and renewals of Eurodollar Loans shall be suspended, and, if the Company shall request in a Committed Loan Request or Conversion/Continuance Request that such Bank make a Eurodollar Loan, the loan requested to be made by such Bank shall instead be made as an ABR Loan.

Appears in 1 contract

Samples: Revolving Credit Agreement (Realty Income Corp)

Unavailability. If at any time any Bank shall have determined in good faith (which determination shall be conclusive) that (x) the making or maintenance of all or any part of such Bank's Eurodollar Loans has been made impracticable or unlawful because of compliance by such Bank in good faith with any law or guideline or any interpretation or administration thereof by any official body charged with the interpretation or administration thereof or with any request or directive of such body (whether or not having the effect of law), because or (y) that LIBOR would not accurately reflect the cost to such Bank of making, continuing or converting any Eurodollar Loan by reason of such compliance, or by reason of the unavailability of appropriate quotations, or by reason of the unavailability of U.S. dollar deposits in the appropriate amount and requested maturity of such Eurodollar Loans are not available to the Bank in the London Eurodollar interbank market, or because of any other reason, then the Agent, upon notification to it of such determination by such Bank, shall forthwith advise the other Banks and the Company thereof. Upon such date as shall be specified in such notice and until such time as the Agent, upon notification to it by such Bank, shall notify the Company and the other Banks that the circumstances specified by it in such notice no longer apply, (i) notwithstanding any other provision of this Agreement, such Eurodollar Loans of such Bank shall automati cally automatically and without requirement of notice by the Company be converted to ABR Loans and (ii) the obligation of only such Bank to allow borrowing, elections and renewals of Eurodollar Loans shall be suspended, and, if the Company shall request in a Committed Loan Request or Conversion/Continuance Request that such Bank make a Eurodollar Loan, the loan requested to be made by such Bank shall instead be made as an ABR Loan.

Appears in 1 contract

Samples: Revolving Credit Agreement (Realty Income Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.