Common use of Change in Laws Clause in Contracts

Change in Laws. If any Change in Law makes it unlawful for any Lender to make or maintain any Borrowing based on the LIBOR Rate Borrowings, then that Lender shall promptly notify Borrower and Administrative Agent, and (a) as to undisbursed funds, that requested Borrowing shall be made as an ABR Borrowing subject to the higher of the Prime Rate and the Federal Funds Effective Rate plus 1%, and (b), as to any outstanding Borrowing, (i) if maintaining the Borrowing until the last day of the applicable Interest Period is unlawful, the Borrowing shall be converted to an ABR Borrowing as of the date of notice, and Borrower shall pay any related Funding Loss, or (ii) if not prohibited by Law, the Borrowing shall be converted to an ABR Borrowing as of the last day of the applicable Interest Period, or (iii) if any conversion will not resolve the unlawfulness, Borrower shall promptly prepay the Borrowing, without penalty, together with any related Funding Loss.

Change in Laws. If any Change in Law makes it unlawful for any Lender to make or maintain any Borrowing based on the LIBOR Rate Borrowings, then that Lender shall promptly notify Borrower and Administrative Agent, and (a) as to undisbursed funds, that requested Borrowing shall be made as an ABR Borrowing subject to the higher of the Prime Rate and the Federal Funds Effective Rate plus 1%, and (b), as to any outstanding Borrowing, (i) if maintaining the Borrowing until the last day of the applicable Interest Period is unlawful, the Borrowing shall be converted to an ABR Borrowing as of the date of notice, and Borrower shall pay any related Funding Loss, or (ii) if not prohibited by Law, the Borrowing shall be converted to an ABR Borrowing as of the last day of the applicable Interest Period, or (iii) if any conversion will not resolve the unlawfulness, Borrower shall promptly prepay the Borrowing, without penalty, together with any related Funding Loss.

Change in Laws. If any Change in Law makes it unlawful for any Lender to make or maintain any Borrowing based on the LIBOR CD-Rate Borrowings, Swing Borrowings, or LIBOR-Rate Borrowings, then that Lender shall promptly notify Borrower and Administrative Agent, and (a) as to undisbursed funds, that requested Borrowing shall be made as an ABR Borrowing subject to the higher of the Prime a Base-Rate and the Federal Funds Effective Rate plus 1%Borrowing, and (b), ) as to any outstanding Borrowing, Borrowing (i) if maintaining the Borrowing until the last day of the applicable Interest Period is unlawful, the Borrowing shall be converted to an ABR a Base-Rate Borrowing as of the date of notice, and in which event Borrower shall will not be required to pay any related Funding Loss, or (ii) if not prohibited by Law, the Borrowing shall be converted to an ABR a Base-Rate Borrowing as of the last day of the applicable Interest Period, or (iii) if any conversion will not resolve the unlawfulness, Borrower shall promptly prepay the Borrowing, without penalty, together with penalty or any related Funding Loss.

Change in Laws. If at any Change in time any Law makes shall make it unlawful for any Lender to make or maintain any Borrowing based on the LIBOR Eurodollar Rate Borrowings, then that such Lender (through Administrative Agent) shall promptly notify Borrower and Administrative Agent, and (a) as to in respect of undisbursed funds, that such Lender shall not be obligated to make any requested Borrowing shall which would be made as an ABR Borrowing subject to the higher of the Prime Rate and the Federal Funds Effective Rate plus 1%unlawful, and (b), as to ) in respect of any outstanding Borrowing, Borrowing (i) if maintaining the such Borrowing until the last day of the applicable Interest Period applicable thereto is unlawful, the such Borrowing shall be converted to an ABR a Base Rate Borrowing as of the date of such notice, and Borrower shall pay any related Funding Consequential Loss, or (ii) if not so prohibited by Law, the such Borrowing shall be converted to an ABR a Base Rate Borrowing as of the last day of the Interest Period then applicable Interest Periodthereto, or (iii) if any such conversion will not resolve the such unlawfulness, Borrower shall prepay promptly prepay the such Eurodollar Rate Borrowing, without penalty, together but with any related Funding Consequential Loss.

Change in Laws. If any Change in Law makes it unlawful for any Lender to make or maintain any Borrowing based on the LIBOR Rate Borrowings, then that Lender shall promptly notify Borrower and Administrative Agent, and (a) as to undisbursed funds, that requested Borrowing shall be made as an ABR Borrowing subject to the higher of the Prime Rate and the Federal Funds Effective Rate plus 1%, and (b), as to any outstanding Borrowing, (i) if maintaining the Borrowing until the last day of the applicable Interest Period is unlawful, the Borrowing shall be converted to an ABR Borrowing as of the date of notice, and Borrower shall pay any related Funding Loss, or (ii) if not prohibited by Law, the Borrowing shall be converted to an ABR Borrowing as of the last day of the applicable Interest Period, or (iii) if any conversion will not resolve the unlawfulness, Borrower shall promptly prepay the Borrowing, without penalty, together with any related Funding Loss.