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 the Loan as, or to convert the Loan into, a LIBOR Rate Loan, then any such LIBOR Rate Loans shall, upon such determination, forthwith be suspended until Lender shall notify Borrower that the circumstances causing such suspension no longer exist, and all LIBOR Rate Loans of such type shall automatically convert into Prime Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law and assertion.

LIBOR Rate Lending Unlawful. If Lender Bank 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 Bank to make, continue or maintain the Loan as, or to convert the Loan into, a LIBOR Rate LIBOR-based Loan, then any such LIBOR Rate LIBOR-based 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 all LIBOR Rate LIBOR-based Loans of such type shall automatically convert into Prime Rate Loans at the end of the then current Interest Periods with respect thereto or sooner, if required by such law 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, Law or other rule, regulation or guideline, guideline (whether or not having the force of law) makes it unlawful, or any Official Body, central bank or other governmental authority asserts that it is unlawful, for Lender the Bank to make, continue or maintain the any Loan as, or to convert the Loan into, as a LIBOR Rate Loan, then any such LIBOR Rate Loans 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 all LIBOR Rate Loans of such type shall automatically convert into Prime Base Rate Loans at the end of the then current LIBOR Interest Periods with respect thereto or sooner, if required by such law 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, Law or other rule, regulation or guideline, guideline (whether or not having the force of law) makes it unlawful, or any Official Body, central bank or other governmental authority asserts that it is unlawful, for Lender the Bank to make, continue or maintain the any Loan as, or to convert the Loan into, as a LIBOR Rate Loan, then any such LIBOR Rate Loans 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 all LIBOR Rate Loans of such type shall automatically convert into Prime Base Rate Loans at the end of the then current LIBOR Interest Periods with respect thereto or sooner, if required by such law and assertion.. 4.64.4