Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c), if any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa and the Administrative Agent, such Lender may: (i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and (ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall automatically be so converted as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans. (b) For purposes of this Section 2.13, a notice by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt.
Appears in 5 contracts
Sources: Revolving Credit Agreement (Alcoa Inc), Revolving Credit Agreement (Alcoa Inc), Revolving Credit Agreement (Alcoa Inc)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change Lender determines that any Change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof Law shall make it unlawful for any such Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by prompt written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless and until such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph Section 2.10(c).
(b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) abovegive notice pursuant to Section 2.10(a), all payments and prepayments of principal which that would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(bc) For purposes of this Section 2.132.10, a notice to the Borrower by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 4 contracts
Sources: Term Loan Agreement (PNM Resources Inc), Revolving Credit Agreement (Avangrid, Inc.), Term Loan Credit Agreement (Avangrid, Inc.)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change Lender determines that any Change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof Law shall make it unlawful for any such Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by prompt written or telecopy notice to Alcoa each Borrower and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a any Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless and until such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph Section 2.10(c).
(b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) abovegive notice pursuant to Section 2.10(a), all payments and prepayments of principal which that would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(bc) For purposes of this Section 2.132.10, a notice to any Borrower by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receiptreceipt by such Borrower.
Appears in 4 contracts
Sources: Revolving Credit Agreement, Revolving Credit Agreement (Avangrid, Inc.), Revolving Credit Agreement (Avangrid, Inc.)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)anything to the contrary contained elsewhere in this Credit Agreement, if any change after the date hereof in any law Applicable Law, guideline or regulation order, or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof thereof, shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any a Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and the Administrative Agent, such Lender may:
may (i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
hereunder and/or (ii) require that that, subject to Section 2.15, all outstanding Eurodollar Loans made by it be converted to ABR Base Rate Loans, in which event whereupon all of such Eurodollar Loans shall automatically be so converted to Base Rate Loans, as of the effective date of such notice as provided in paragraph (b) below. In the event Such Lender's pro rata portion of any Lender shall exercise its rights under clause (i) or (ii) abovesubsequent Eurodollar Loan shall, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by instead, be a Base Rate Loan unless such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loansdeclaration is subsequently withdrawn.
(b) For purposes of this Section 2.13, a A notice to the Borrower by any Lender pursuant to paragraph (a) above shall be effective as to each Eurodollar Loanfor purposes of clause (ii) thereof, if lawful, on the last day of the current Interest Period applicable to such for each outstanding Eurodollar Loan; and in all other cases such notice shall be effective cases, on the date of receiptreceipt of such notice by the Borrower.
Appears in 3 contracts
Sources: Credit, Security, Guaranty and Pledge Agreement (Genesis Healthcare Corp), Credit, Security, Guaranty and Pledge Agreement (Genesis Health Ventures Inc /Pa), Credit Agreement (Oneida LTD)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender may:
(iA) declare that Eurodollar Loans Loans, and conversions to or continuations of Eurodollar Loans, will not thereafter be made by such Lender hereunder, whereupon any request by a the Borrower for, or for a conversion into or continuation of, Eurodollar Borrowing Loans shall, as to such Lender only, be deemed a request for, or for an ABR Loan conversion into or continuation of, Base Rate Loans, unless such declaration shall be subsequently withdrawn; and
(iiB) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, Base Rate Loans in which event all such Eurodollar Loans shall be automatically be so converted as of the effective date of such notice as provided in paragraph (b) belowto Base Rate Loans. In the event any Lender shall exercise its rights under clause (iA) or (iiB) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Base Rate Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.13, a notice by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt.
Appears in 3 contracts
Sources: Multi Year Credit Agreement (Alabama Power Co), Multi Year Credit Agreement (Southern Power Co), Multi Year Credit Agreement (Alabama Power Co)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if the adoption of or any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.14, a notice to the Borrower by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 2 contracts
Sources: Credit Agreement (Collins & Aikman Corp), Credit Agreement (Collins & Aikman Corp)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change in in, or adoption of, any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.13, a notice to the Borrower by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt.
Appears in 2 contracts
Sources: Credit Agreement (Avista Corp), Credit Agreement (Avista Corp)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)anything to the contrary contained elsewhere in this Agreement, if any change after the date hereof in any law law, rule, regulation, guideline or regulation order, or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof thereof, shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any a Eurodollar Loan, then, by written or telecopy notice to Alcoa the Agent and the Administrative AgentBorrower, such Lender may:
(i) declare that Eurodollar Loans it will not thereafter be made by such Lender make Eurodollar Loans hereunder, whereupon any request by a the Borrower for a shall be prohibited from requesting such Eurodollar Borrowing shall, as to Loans from such Lender only, be deemed a request for an ABR Loan unless such declaration shall be is subsequently withdrawn; and
(ii) require that that, subject to the provisions of Section 2.10, all outstanding Eurodollar Loans made by it such Lender be converted to ABR Loansan Alternate Base Rate Loan, in which event whereupon all of such Eurodollar Loans shall be automatically be so converted to an Alternate Base Rate Loan as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.14, a notice to the Borrower by any a Lender pursuant to paragraph (a) above shall be effective as to each Eurodollar Loaneffective, for the purposes of paragraph (a) above, if lawful, and if any Eurodollar Loans shall then be outstanding, on the last day of the then current Interest Period applicable to such Eurodollar LoanPeriod; in all other cases otherwise, such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 2 contracts
Sources: Loan Agreement (Del Laboratories Inc), Loan Agreement (Del Laboratories Inc)
Change in Legality. (a1) Notwithstanding any other provision herein other than Section 2.14(c)anything to the contrary contained elsewhere in this Agreement, if (x) any change after the date of this Agreement in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender a Bank to make or maintain any a Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to a Eurodollar Loan or (y) at any time any Bank determines that the making or continuance of any of its Eurodollar Loan, Loans has become impracticable as a result of a contingency occurring after the date hereof which adversely affects the London interbank market then, by written or telecopy notice to Alcoa and the Administrative AgentBorrower, such Lender may:
Bank may (i) declare that Eurodollar Loans will not thereafter be made by such Lender Bank hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender Bank only, be deemed a request for an ABR a Prime Rate Loan unless such declaration shall be subsequently withdrawn; and
and (ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Prime Rate Loans, in which event all such Eurodollar Loans shall be automatically be so converted to Prime Rate Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender Bank shall exercise its rights under clause (i) or (ii) aboveof this paragraph (a), all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender Bank or the converted Eurodollar Loans of such Lender Bank shall instead be applied to repay the Prime Rate Loans made by such Lender Bank in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b2) For purposes of this Section 2.132.16, a notice to the Borrower by any Lender Bank pursuant to paragraph (a) above shall be effective as to each Eurodollar Loaneffective, if lawful, and if any Eurodollar Loans shall then be outstanding, on the last day of the then-current Interest Period applicable to such Eurodollar Loan; in all other cases Period, otherwise, such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 2 contracts
Sources: Revolving Credit and Guaranty Agreement (Genesis Health Ventures Inc /Pa), Revolving Credit and Guaranty Agreement (Multicare Companies Inc)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if after the Closing Date any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause subparagraph (i) or (ii) above, all payments and prepayments of principal which that would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.15, a notice to the Borrower by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 2 contracts
Sources: Credit Agreement (Smurfit Stone Container Corp), Credit Agreement (Smurfit Stone Container Corp)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)anything to the contrary contained elsewhere in this Credit Agreement, if any change after the date hereof in any law Applicable Law, guideline or regulation order, or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof thereof, shall make it unlawful for any Lender to make or maintain any Bankers' Acceptances or Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any a Eurodollar LoanLoan or Bankers' Acceptances, then, by written or telecopy notice to Alcoa the Borrowers and the Administrative Agent or the Canadian Agent, as applicable, such Lender may:
may (i) declare that Eurodollar Loans will not thereafter be made or Bankers' Acceptances accepted, as applicable, by such Lender hereunder, whereupon any request by a Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
hereunder and/or (ii) require that that, subject to Section 2.11 all outstanding Bankers' Acceptances or Eurodollar Loans made by it be converted to ABR Canadian Prime Rate Loans or Alternate Base Rate Loans, in which event as applicable, whereupon all of such Bankers' Acceptances or Eurodollar Loans shall automatically be so converted to Canadian Prime Rate Loans or Alternate Base Rate Loans, as applicable, as of the effective date of such notice as provided in paragraph (b) below. In the event Such Lender's Pro Rata Share of any Lender shall exercise its rights under clause (i) subsequent Bankers' Acceptance or (ii) aboveEurodollar Loan shall, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by instead, be a Canadian Prime Rate Loan or an Alternate Base Rate Loan, as applicable, unless such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loansdeclaration is subsequently withdrawn.
(b) For purposes of this Section 2.13, a A notice to the Borrowers by any Lender pursuant to paragraph (a) above shall be effective as to each Eurodollar Loanfor purposes of clause (ii) thereof, if lawful, on the last day of the current Interest Period applicable to such for each outstanding Eurodollar Loan; and in all other cases such notice shall be effective cases, on the date of receiptreceipt of such notice by the Borrowers.
Appears in 2 contracts
Sources: Credit Agreement (Lions Gate Entertainment Corp /Cn/), Credit Agreement (Lions Gate Entertainment Corp /Cn/)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if after the date hereof any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause subparagraph (i) or (ii) above, all payments and prepayments of principal which that would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.15, a notice to the Borrower by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 2 contracts
Sources: Credit Agreement (Jefferson Smurfit Corp /De/), Credit Agreement (Jsce Inc)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative AgentAgents, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon such Lender shall not submit a Competitive Bid in response to a request for Eurodollar Competitive Loans and any request by a Borrower for a Eurodollar Standby Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawnwithdrawn (any Lender delivering such a declaration hereby agreeing to withdraw such declaration promptly upon determining that such event of illegality no longer exists); and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.13, a notice by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt.
Appears in 2 contracts
Sources: 364 Day Competitive Advance and Revolving Credit Facility Agreement (Texas Utilities Co /Tx/), 364 Day Competitive Advance and Revolving Credit Facility Agreement (Tu Acquisitions PLC)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)anything to the contrary contained elsewhere in this Agreement, if (x) any change in any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender a Bank to make or maintain any a Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to a Eurodollar Loan or (y) at any time any Bank determines that the making or continuance of any of its Eurodollar LoanLoans has become impracticable as a result of a contingency occurring after the date hereof which adversely affects the London interbank market or the position of such Bank in such market, then, by written or telecopy notice to Alcoa and the Administrative AgentBorrower, such Lender may:
Bank may (i) declare that Eurodollar Loans will not thereafter be made by such Lender Bank hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender Bank only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
and (ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender Bank shall exercise its rights under clause (i) or (ii) aboveof this paragraph (a), all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender Bank or the converted Eurodollar Loans of such Lender Bank shall instead be applied to repay the ABR Loans made by such Lender Bank in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.13, a notice by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt.
Appears in 2 contracts
Sources: Revolving Credit and Guaranty Agreement (Carson Pirie Scott & Co /Il/), Revolving Credit and Guaranty Agreement (Carson Pirie Scott & Co /Il/)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if the adoption of or any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause subparagraphs (i) or and (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.14, a notice to the Borrower by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 2 contracts
Sources: Credit Agreement (Ucar International Inc), Credit Agreement (Commnet Cellular Inc)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if after the date of this Agreement any change in any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which that would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.15, a notice to the Borrower by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 2 contracts
Sources: Credit Agreement (Travelcenters Realty Inc), Credit Agreement (Travelcenters of America Inc)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change in in, or adoption of, any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender Bank to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender Bank may:
(i) declare that Eurodollar Loans will not thereafter there after be made by such Lender Bank hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender Bank only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender Bank shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender Bank or the converted Eurodollar Loans of such Lender Bank shall instead be applied to repay the ABR Loans made by such Lender Bank in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.13, a notice to the Borrower by any Lender Bank shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Avista Corp), Revolving Credit Agreement (Avista Corp)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan Borrowing unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) belowSection 2.14(b). In the event that any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.14, a notice to the Borrower by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 2 contracts
Sources: Parity Debt Credit Agreement (Star Gas Partners Lp), Credit Agreement (Star Gas Partners Lp)
Change in Legality. (a) a. Notwithstanding any other provision anything to the contrary herein other than Section 2.14(c)contained, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender Bank to make or maintain any Eurodollar Loan or to give effect to its obligations to make Eurodollar Loans as contemplated hereby with respect to any Eurodollar Loanhereby, then, by written or telecopy notice to Alcoa the Agent and the Administrative AgentBorrower, such Lender Bank may:
(i) declare Declare that Eurodollar Loans will not thereafter be made by such Lender Bank hereunder, whereupon any request by a Borrower for a the Borrowers shall be prohibited from requesting Eurodollar Borrowing shall, as to Loans from such Lender only, be deemed a request for an ABR Loan Bank hereunder unless such declaration shall be is subsequently withdrawn; and
(ii) require Require that all outstanding Eurodollar Loans made by it be converted to ABR Floating Rate Loans, in which event (A) all such Eurodollar Loans shall be automatically be so converted to Floating Rate Loans as of the effective date of such notice as provided in paragraph (bParagraph(b) below. In the event any Lender shall exercise its rights under clause , and (iB) or (ii) above, all payments and prepayments of principal which that would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Floating Rate Loans made by such Lender in lieu of, or resulting from the conversion of, of such Eurodollar Loans.
(b) b. For purposes of this Section 2.132.9, a notice to Borrower and Agent by any Lender Bank, pursuant to (a) above, shall be effective as to each Eurodollar Loaneffective, if lawful, on the last day of the then current Interest Period applicable to such Eurodollar LoanPeriods; in all other cases cases, such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 2 contracts
Sources: Loan and Security Agreement (Clintrials Research Inc), Loan and Security Agreement (Clintrials Research Inc)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change in in, or adoption of, any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender Bank to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender Bank may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender Bank hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender Bank only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender Bank shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender Bank or the converted Eurodollar Loans of such Lender Bank shall instead be applied to repay the ABR Loans made by such Lender Bank in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.13, a notice to the Borrower by any Lender Bank shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt.
Appears in 2 contracts
Sources: Credit Agreement (Avista Corp), Credit Agreement (Avista Corp)
Change in Legality. (aA) Notwithstanding any other provision anything to the contrary herein other than Section 2.14(c)contained, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender Bank to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loanhereby, then, by written or telecopy notice to Alcoa the Agent and the Administrative AgentBorrower, such Lender Bank may:
(i1) declare Declare that Eurodollar Loans will not thereafter be made by such Lender Bank hereunder, whereupon any request by a the Borrower for a shall be prohibited from requesting Eurodollar Borrowing shall, as to Loans from such Lender only, be deemed a request for an ABR Loan Bank hereunder unless such declaration shall be is subsequently withdrawn; and
(ii2) require Require that all outstanding Eurodollar Loans made by it be converted to ABR Floating Rate Loans, in which event (a) all such Eurodollar Loans shall be automatically be so converted to Floating Rate Loans as of the effective date of such notice as provided in paragraph (B) below and (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which that would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Floating Rate Loans made by such Lender in lieu of, or resulting from the conversion of, of such Eurodollar Loans.
(bB) For purposes of this Section 2.13Paragraph 2.8, a notice to the Borrower and Agent by any Lender Bank pursuant to (A) above shall be effective as to each Eurodollar Loaneffective, if lawful, on the last day of the then current Interest Period applicable to such Eurodollar LoanPeriod; in all other cases cases, such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 2 contracts
Sources: Loan and Security Agreement (Accredo Health Inc), Distribution and Services Agreement (Accredo Health Inc)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if the adoption of or any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a Borrower Credit Party for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause subparagraphs (i) or and (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.14, a notice to the Borrower by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 2 contracts
Sources: Credit Agreement (Ucar International Inc), Credit Agreement (Ucar International Inc)
Change in Legality. (aA) Notwithstanding any other provision anything to the contrary herein other than Section 2.14(c)contained, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender Bank to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loanhereby, then, by written or telecopy notice to Alcoa and the Administrative AgentBorrower, such Lender Bank may:
(i1) declare Declare that Eurodollar Loans will not thereafter be made by such Lender Bank hereunder, whereupon any request by a the Borrower for a shall be prohibited from requesting Eurodollar Borrowing shall, as to Loans from such Lender only, be deemed a request for an ABR Loan Bank hereunder unless such declaration shall be is subsequently withdrawn; and
(ii2) require Require that all outstanding Eurodollar Loans made by it be converted to ABR Floating Rate Loans, in which event (a) all such Eurodollar Loans shall be automatically be so converted to Floating Rate Loans as of the effective date of such notice as provided in paragraph (B) below and (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which that would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Floating Rate Loans made by such Lender in lieu of, or resulting from the conversion of, of such Eurodollar Loans.
(bB) For purposes of this Section 2.13Paragraph 2.9, a notice to the Borrower by any Lender Bank pursuant to (A) above shall be effective as to each Eurodollar Loaneffective, if lawful, on the last day of the then current Interest Period applicable to such Eurodollar LoanPeriod; in all other cases cases, such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 1 contract
Sources: Revolving Loan and Security Agreement (Specialty Care Network Inc)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change in in, or adoption of, any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender Bank to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender Bank may:
(i) declare that Eurodollar Loans will not thereafter there after be made by such Lender Bank hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender Bank only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender Bank shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender Bank or the converted Eurodollar Loans of such Lender Bank shall instead be applied to repay the ABR Loans made by such Lender Bank in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.12, a notice to the Borrower by any Lender Bank shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt.
Appears in 1 contract
Sources: Revolving Credit Agreement (Washington Water Power Co)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.12, a notice to the Borrower by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)anything to the contrary contained elsewhere in this Agreement, if (x) any change Change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof Law shall make it unlawful for any a Lender or its applicable lending office to make or maintain any Eurodollar a Eurocurrency Loan or to give effect to its obligations as contemplated hereby with respect to a Eurocurrency Loan or (y) at any Eurodollar Loantime any Lender determines that the making or continuance of any of its Eurocurrency Loans has become impracticable as a result of a contingency occurring after the Second Amendment Effective Date which adversely affects the London interbank market or the position of such Lender in the London interbank market, then, by written or telecopy notice to Alcoa and the Administrative AgentParent Borrower, such Lender may:
may (i) declare that Eurodollar Eurocurrency Loans will not thereafter be made by such Lender hereunder, whereupon any request by a Borrower the Borrowers for a Eurodollar Eurocurrency Borrowing shall, as to such Lender only, be deemed a request for an ABR a Base Rate Loan unless such declaration shall be subsequently withdrawn; and
and (ii) require that all outstanding Eurodollar Eurocurrency Loans made by it be converted to ABR Base Rate Loans, in which event all such Eurodollar Eurocurrency Loans shall be automatically be so converted to Base Rate Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.13, a notice by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt.)
Appears in 1 contract
Sources: Credit Agreement (Dillard's, Inc.)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)anything to the contrary contained elsewhere in this Agreement, if (x) any change after the date of this Agreement in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender a Bank to make or maintain any a Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to a Eurodollar Loan or (y) at any time any Bank determines that the making or continuance of any of its Eurodollar LoanLoans has become impracticable as a result of a contingency occurring after the date hereof which adversely affects the London interbank market or the position of such Bank in such market, then, by written or telecopy notice to Alcoa and the Administrative AgentBorrower, such Lender may:
Bank may (i) declare that Eurodollar Loans will not thereafter be made by such Lender Bank hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender Bank only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
and (ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender Bank shall exercise its rights under clause (i) or (ii) aboveof this paragraph (a), all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender Bank or the converted Eurodollar Loans of such Lender Bank shall instead be applied to repay the ABR Loans made by such Lender Bank in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) . For purposes of this Section 2.132.16, a notice to the Borrower by any Lender Bank pursuant to paragraph (a) above shall be effective as to each Eurodollar Loaneffective, if lawful, and if any Eurodollar Loans shall then be outstanding, on the last day of the then-current Interest Period applicable to such Eurodollar Loan; in all other cases Period, otherwise, such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 1 contract
Sources: Revolving Credit and Guaranty Agreement (Armstrong World Industries Inc)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Company and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans Loans, made by it be converted to ABR Loans, in which event all such Eurodollar Loans Loans, shall be automatically be so converted to ABR Loans, as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans Loans, that would have been made by such Lender or the converted Eurodollar Loans Loans, of such Lender shall instead be applied to repay the Loans ABR Loans, made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.14, a notice by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt.
Appears in 1 contract
Sources: 364 Day Competitive Advance and Revolving Credit Facility Agreement (Itt Corp /Nv/)
Change in Legality. (a) Notwithstanding any other provision anything to the contrary herein other than Section 2.14(c)contained, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa and the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a any Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan Alternate Base Rate Loan, as applicable unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Alternate Base Rate Loans, in which event all such Eurodollar Loans shall be automatically be so converted to Alternate Base Rate Loans, as of the effective date of such notice as provided in paragraph (b) belowSection 5.9(b). In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Loans Alternate Base Rate Loans, made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.135.9(a), a notice to the Agent by any Lender shall be effective as to each Eurodollar Loan, if lawful, Loan on the last day of the each applicable Interest Period applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receiptPeriod.
Appears in 1 contract
Sources: Revolving Credit Agreement (Asbury Automotive Group Inc)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change Lender determines that any Change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof Law shall make it unlawful for any such Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by prompt written or telecopy notice to Alcoa each Borrower and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, whereupon any request by a any Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless and until such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph Section 2.10(c).
(b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) abovegive notice pursuant to Section 2.10(a), all payments and prepayments of principal which that would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(bc) For purposes of this Section 2.132.10, a notice to any Borrower by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receiptreceipt by such Borrower.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other ------------------- provision herein other than Section 2.14(c)herein, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will shall not thereafter be made by such Lender hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan to the Borrower unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted con verted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.13Section, a notice to the Borrower by any Lender shall be effective as to each Eurodollar Loan, Loan if lawful, on the last day of the Interest Period then applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)anything to the contrary contained elsewhere in this Agreement, if any change after the date hereof in any law law, rule, regulation, guideline or regulation order, or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof thereof, shall make it unlawful for any Lender the Bank to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any a Eurodollar Loan, then, by written or telecopy notice to Alcoa and the Administrative AgentBorrower, such Lender maythe Bank shall:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender the Bank hereunder, whereupon any request by a the Borrower for a shall be prohibited from requesting Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan Loans from the Bank hereunder unless such declaration shall be is subsequently withdrawn; and
(ii) require that that, subject to the provisions of Section 2.13 hereof, all outstanding Eurodollar Loans made by it the Bank be converted to ABR Loansa Prime Rate Loan, in which event whereupon all of such Eurodollar Loans shall be automatically be so converted to a Prime Rate Loan as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.12, a notice to the Borrower by any Lender the Bank pursuant to paragraph (a) above shall be effective as to each Eurodollar Loaneffective, for the purposes of paragraph (a) above, if lawful, and if any Eurodollar Loans shall then be outstanding, on the last day of the then current Interest Period applicable to such Eurodollar LoanPeriod; in all other cases otherwise, such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision anything to the contrary herein other than Section 2.14(c)contained, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof Regulatory Change shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loanhereby, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a the Borrower for a shall be prohibited from requesting Eurodollar Borrowing shall, as to Loans from such Lender only, be deemed a request for an ABR Loan Lende hereunder unless such declaration shall be subsequently withdrawnis subsequent▇▇ ▇▇thdrawn; and
(ii) if such unlawfulness shall be effective prior to the end of any Interest Period of an outstanding Eurodollar Loan, require that all outstanding Eurodollar Loans with such Interest Periods made by it be converted to ABR Loans, in which event (A) all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause below and (iB) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, of such Eurodollar Loans.
(b) For purposes of this Section 2.132.11, a notice to the Borrower (with a copy to the Administrative Agent) by any Lender shall be effective as pursuant to each Eurodollar Loan, if lawful, on the last day of the Interest Period applicable to such Eurodollar Loan; in all other cases such notice paragraph (a) above shall be effective on the date of receiptreceipt thereof by the Borrower.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)anything to the contrary contained elsewhere in this Agreement, if any change after the date hereof in any law law, rule, regulation, guideline or regulation order, or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof thereof, shall make it unlawful for any Lender of the Banks to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any a Eurodollar Loan, then, any such affected Bank shall notify the Agent of same and, by written or telecopy notice to Alcoa and the Administrative Borrower, the Agent, on behalf of such Lender mayBank shall:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender Bank hereunder, whereupon any request by a the Borrower for a shall be prohibited from requesting Eurodollar Borrowing shall, as to Loans from such Lender only, be deemed a request for an ABR Loan Bank hereunder unless such declaration shall be is subsequently withdrawn; and
(ii) require that that, subject to the provisions of Section 2.13 hereof, all outstanding Eurodollar Loans made by it such Bank be converted to ABR Loansan Alternate Base Rate Loan, in which event whereupon all of such Eurodollar Loans shall be automatically be so converted to an Alternate Base Rate Loan as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.12, a notice to the Borrower by any Lender the Agent pursuant to paragraph (a) above shall be effective as to each Eurodollar Loaneffective, for the purposes of paragraph (a) above, if lawful, and if any Eurodollar Loans shall then be outstanding, on the last day of the then current Interest Period applicable to such Eurodollar LoanPeriod; in all other cases otherwise, such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)anything to the contrary contained elsewhere in this Agreement, if any change after the date hereof in any law law, rule, regulation, guideline or regulation order, or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof thereof, shall make it unlawful for any Lender of the Banks to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any a Eurodollar Loan, then, any such affected Bank shall notify the Agent of same and, by written or telecopy notice to Alcoa and the Administrative Borrower, the Agent, on behalf of such Lender mayBank shall:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender Bank hereunder, whereupon any request by a the Borrower for a shall be prohibited from requesting Eurodollar Borrowing shall, as to Loans from such Lender only, be deemed a request for an ABR Loan Bank hereunder unless such declaration shall be is subsequently withdrawn; and
(ii) require that that, subject to the provisions of Section 2.13 hereof, all outstanding Eurodollar Loans made by it such Bank be converted to ABR Loansa Prime Rate Loan, in which event whereupon all of such Eurodollar Loans shall be automatically be so converted to a Prime Rate Loan as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.12, a notice to the Borrower by any Lender the Agent pursuant to paragraph (a) above shall be effective as to each Eurodollar Loaneffective, for the purposes of paragraph (a) above, if lawful, and if any Eurodollar Loans shall then be outstanding, on the last day of the then current Interest Period applicable to such Eurodollar LoanPeriod; in all other cases otherwise, such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)anything to the ------------------- contrary contained elsewhere in this Agreement, if any change after the date hereof in any law law, rule, regulation, guideline or regulation order, or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof thereof, shall make it unlawful for any Lender the Bank to make or maintain any Eurodollar Agreed Rate Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar a Fixed Rate Loan, then, by written or telecopy notice to Alcoa and the Administrative AgentBorrower, such Lender the Bank may:
(i) declare that Eurodollar Agreed Rate Loans will not thereafter be made by such Lender hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to shall be prohibited from requesting such Lender only, be deemed a request for an ABR Loan Agreed Rate Loans hereunder unless such declaration shall be is subsequently withdrawn; and
(ii) require that that, subject to the provisions of Section 2.17, all outstanding Eurodollar Fixed Rate Loans made by it be converted to ABR one or more Prime Rate Loans, in which event whereupon all of such Eurodollar Fixed Rate Loans shall be automatically be so converted to one or more Prime Rate Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.21, a notice to the Borrower by any Lender the Bank pursuant to paragraph (a) above shall be effective as to each Eurodollar Loaneffective, for the purposes of paragraph (a) above, if lawful, and if any Agreed Rate Loans shall then be outstanding, on the last day of the then current Interest Period applicable to such Eurodollar LoanPeriod; in all other cases otherwise, such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 1 contract
Sources: Loan Agreement (Firecom Inc)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender or any of its Affiliates to make or maintain any Eurodollar Eurocurrency Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Eurocurrency Loan, then, by written or telecopy notice to Alcoa the Company and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Eurocurrency Loans will not thereafter be made by such Lender hereunder, whereupon any request by a Borrower for a Eurodollar Eurocurrency Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan Loan, unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Eurocurrency Loans made by it be converted to ABR LoansLoans (which ABR Loans shall, for purposes of this Section 2.14, be determined at a rate per annum by reference to the greater of clause (a) or (b) of the definition of the term “Alternate Base Rate”), in which event all such Eurodollar Eurocurrency Loans shall be automatically be converted to ABR Loans (at a rate per annum as so converted determined) as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) aboveabove with respect to Eurocurrency Loans, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Eurocurrency Loans that would have been made by such Lender or the converted Eurodollar Eurocurrency Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Eurocurrency Loans.
(b) For purposes of this Section 2.13, a notice by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision anything to the contrary herein other than Section 2.14(c)contained, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations to make Eurodollar Loans as contemplated hereby with respect to any Eurodollar Loanhereby, then, by written or telecopy notice to Alcoa Borrowers and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a Borrower for a the Borrowers shall be prohibited from requesting Eurodollar Borrowing shall, as to Loans from such Lender only, be deemed a request for an ABR Loan hereunder unless such declaration shall be is subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans Loans, made by it such Lender be converted to ABR Alternate Base Loans, in which event (A) all such Eurodollar Loans shall be automatically be so converted to Alternate Base Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause below and (iB) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Alternate Base Loans made by such Lender in lieu of, or resulting from the conversion of, of such Eurodollar Loans.
(b) For purposes of this Section 2.132.11(a) hereof, a notice to the Borrowers by any Lender shall be effective as to each Eurodollar Loaneffective, if lawful, on the last day of the then current Interest Period applicable to or, if there are then two or more current Interest Periods, on the last day of each such Eurodollar Loan; in all other cases Interest Period, respectively, otherwise, such notice shall be effective with respect to the Borrowers on the date of receiptreceipt by the Borrowers.
Appears in 1 contract
Sources: Credit Agreement (Interdent Inc)
Change in Legality. (a) Notwithstanding any other provision anything to the contrary herein other than Section 2.14(c)contained, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations to make Eurodollar Loans as contemplated hereby with respect to any Eurodollar Loanhereby, then, by written or telecopy notice to Alcoa Borrower and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a the Borrower for a shall be prohibited from requesting Eurodollar Borrowing shall, as to Loans from such Lender only, be deemed a request for an ABR Loan hereunder unless such declaration shall be is subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it such Lender be converted to ABR Alternate Base Loans, in which event (A) all such Eurodollar Loans shall be automatically be so converted to Alternate Base Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause below and (iB) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Alternate Base Loans made by such Lender in lieu of, or resulting from the conversion of, of such Eurodollar Loans.
(b) For purposes of this Section 2.132.11(a) hereof, a notice to the Borrower by any Lender shall be effective as to each Eurodollar Loaneffective, (x) if lawful, on the last day of the then current Interest Period applicable to or, if there are then two or more current Interest Periods, on the last day of each such Eurodollar Loan; in all other cases such notice shall be effective Interest Period, respectively or (y) otherwise, on the date of receiptreceipt by the Borrower.
Appears in 1 contract
Sources: Credit Agreement (Kasper a S L LTD)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change Change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof Law shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa Borrower and the Administrative Agentto Lender, such Lender may:
: (i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a Borrower for a Eurodollar Borrowing shall, as to such Lender only, shall be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawnwithdrawn (Lender delivering such a declaration hereby agreeing to withdraw such declaration promptly upon determining that such event of illegality no longer exists); and
and (ii) require that all outstanding Eurodollar Loans made by it be converted Converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted Converted to ABR Loans as of the effective date of such notice as provided in paragraph subsection (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion Conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.13Section, a notice by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt.
Appears in 1 contract
Sources: Term Loan Credit Agreement (Oncor Electric Delivery Co LLC)
Change in Legality. (ai) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender may:
(iA) declare that Eurodollar Loans Loans, and conversions to or continuations of Eurodollar Loans, will not thereafter be made by such Lender hereunder, whereupon any request by a the Borrower for, or for a conversion into or continuation of, Eurodollar Borrowing Loans shall, as to such Lender only, be deemed a request for, or for an ABR Loan conversion into or continuation of, Base Rate Loans, unless such declaration shall be subsequently withdrawn; and
(iiB) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, Base Rate Loans in which event all such Eurodollar Loans shall be automatically be so converted as of the effective date of such notice as provided in paragraph (b) belowto Base Rate Loans. In the event any Lender shall exercise its rights under clause (iA) or (iiB) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Base Rate Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.13, a notice by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision anything to the contrary herein other than Section 2.14(c)contained, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect (an "Illegality"), or if Lender determines that maintenance of Eurodollar Loans would cause Lender to implement or modify any Eurodollar Loanreserve, thenspecial deposit or assessment or other requirement, by written or telecopy notice to Alcoa and impose any other condition on Lender affecting the Administrative Agent, such Lender may:Revolving Loans (each of the foregoing circumstances called a
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a the Borrower for a shall be prohibited from requesting Eurodollar Borrowing shall, as to such Loans from Lender only, be deemed a request for an ABR Loan hereunder unless such declaration shall be is subsequently withdrawn; provided, however, that if after the date of any such declaration there shall occur any change in law or regulation or in the interpretation thereof by any government authority charged with the administration or interpretation thereof that shall eliminate such Illegality, Lender shall as promptly as reasonably practicable notify the Borrower of such occurrence and withdraw such declaration; and
(ii) require that all outstanding Eurodollar Loans made by it Lender be converted to ABR Reference Rate Loans, in which event (1) all such Eurodollar Loans shall be automatically be so converted to Reference Rate Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause below and, (i2) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Reference Rate Loans made by such Lender in lieu of, or resulting from the conversion of, of such Eurodollar Loans.
(b) For for purposes of this Section 2.13, 2 a notice to the Borrower by any Lender shall be effective as pursuant to each Eurodollar Loan, if lawful, on the last day of the Interest Period applicable to such Eurodollar Loan; in all other cases such notice paragraph (a) above shall be effective on the date of receiptreceipt by the Borrower.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event If any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which that would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.15, a notice to the Borrower by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change in or adoption of any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.10, a notice to the Borrower by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt.
Appears in 1 contract
Sources: Term Loan Agreement (Avista Corp)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender Bank to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Company and to the Administrative Agent, such Lender Bank may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender Bank hereunder, whereupon any request by a Borrower the Company for a Eurodollar Borrowing shall, as to such Lender Bank only, be deemed a request for an ABR Loan Loan, unless such declaration shall be subsequently withdrawn; and;
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, Loans in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender Bank shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender Bank or the converted Eurodollar Loans of such Lender Bank shall instead be applied to repay the ABR Loans made by such Lender Bank in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.11, a notice to the Company by any Lender Bank shall be effective as to each Eurodollar LoanLoan as applicable, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receiptreceipt by the Company.
Appears in 1 contract
Sources: Credit Agreement (Tredegar Corp)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Company and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any such Lender shall not submit a Competitive Bid in response to a request by a Borrower for a Eurodollar Borrowing Competitive Loan and any request for a Eurodollar Standby Loan shall, as to such Lender only, be deemed a request for an ABR Loan Loan, unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans Loans, made by it be converted to ABR Loans, in which event all such Eurodollar Loans Loans, shall be automatically be so converted to ABR Loans, as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.14, a notice by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt.
Appears in 1 contract
Sources: 364 Day Competitive Advance and Revolving Credit Facility Agreement (Itt Corp /Nv/)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change in in, or adoption of, any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender Bank to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender Bank may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender Bank hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender Bank only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender Bank shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender Bank or the converted Eurodollar Loans of such Lender Bank shall instead be applied to repay the ABR Loans made by such Lender Bank in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.14, a notice to the Borrower by any Lender Bank shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt.
Appears in 1 contract
Change in Legality. (aA) Notwithstanding any other provision anything to the contrary herein other than Section 2.14(c)contained, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender Bank to make or maintain any Eurodollar Loan or to give effect to its obligations to make Eurodollar Loans as contemplated hereby with respect to any Eurodollar Loanhereby, then, by written or telecopy notice to Alcoa and the Administrative AgentBorrower, such Lender Bank may:
(i1) declare Declare that Eurodollar Loans will not thereafter be made by such Lender Bank hereunder, whereupon any request by a the Borrower for a shall be prohibited from requesting Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan Loans from the Banks hereunder unless such declaration shall be is subsequently withdrawn; and
(ii2) require Require that all outstanding Eurodollar Loans made by it be converted to ABR Floating Rate Loans, in which event (a) all such Eurodollar Loans shall be automatically be so converted to Floating Rate Loans as of the effective date of such notice as provided in paragraph (B) below, and (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which that would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Floating Rate Loans made by such Lender in lieu of, or resulting from the conversion of, of such Eurodollar Loans.
(bB) For purposes of this Section 2.132.12, a notice to the Borrower by any Lender Bank, pursuant to (A) above, shall be effective as to each Eurodollar Loaneffective, if lawful, on the last day of the then current Eurodollar Interest Period applicable to such Eurodollar LoanPeriod; in all other cases cases, such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)anything to the contrary contained elsewhere in this Credit Agreement, if any change after the date hereof in any law Applicable Law, guideline or regulation order, or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof thereof, shall make it unlawful for any Lender to make or maintain any Eurodollar EurodollarTerm Benchmark Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar a EurodollarTerm Benchmark Loan, then, by written or telecopy notice to Alcoa the Borrower and the Administrative Agent, Agent such Lender may:
may (i) declare that Eurodollar EurodollarTerm Benchmark Loans will not thereafter be made by such Lender hereunder, whereupon any request by a Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
hereunder and/or (ii) require that that, subject to Section 3.6, all outstanding Eurodollar EurodollarTerm Benchmark Loans made by it be converted to ABR Loans, in which event Base Rate Loans whereupon all of such Eurodollar EurodollarTerm Benchmark Loans shall automatically be so converted to Base Rate Loans as of the effective date of such notice as provided in paragraph (b) below. In the event Such Lender’s Percentage of any Lender shall exercise its rights under clause (i) or (ii) abovesubsequent EurodollarTerm Benchmark Loan shall, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by instead, be an Base Rate Loan unless such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loansdeclaration is subsequently withdrawn.
(b) For purposes of this Section 2.13, a A notice to the Borrower by any Lender pursuant to paragraph (a) above shall be effective as to each Eurodollar Loanfor purposes of clause (ii) thereof, if lawful, on the last day of the current Interest Period applicable to such Eurodollar for each outstanding EurodollarTerm Benchmark Loan; and in all other cases such notice shall be effective cases, on the date of receiptreceipt of such notice by the Borrower.
Appears in 1 contract
Sources: Credit and Guarantee Agreement (Lions Gate Entertainment Corp /Cn/)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)anything to the contrary contained elsewhere in this Agreement, if any change after the date hereof in any law or regulation or in the interpretation or application thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful (based on the opinion of any counsel, whether in-house, special or general, for any Lender the Bank) for the Bank to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa and the Administrative AgentBorrower by the Bank, such Lender the Bank may:
(i) declare that such Eurodollar Loans will not thereafter be made by such Lender the Bank hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to shall be prohibited from requesting such Lender only, be deemed a request for an ABR Loan Loans from the Bank hereunder unless such declaration shall be is subsequently withdrawn; and the Bank agrees to withdraw any such declaration if and to the extent that the making and/or maintenance by the Bank of its Eurodollar Loans shall cease to be unlawful; and
(ii) require that all outstanding Eurodollar Loans made by it to be converted to ABR Alternate Base Rate Loans, in which event whereupon all such Eurodollar Loans shall be automatically be so converted to Alternate Base Rate Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (ibelow and subject to Section 2.12(b) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loanshereof.
(b) For purposes of this Section 2.132.21, a notice to the Borrower by any Lender the Bank pursuant to paragraph (a) above shall be effective as to each Eurodollar Loan, if lawful, on the last day of the then current Interest Period applicable to or, if required by law, on such Eurodollar Loan; in all other cases such notice earlier date as shall be effective on so required.
(c) The Bank agrees to designate a different office of the date Bank as its lending office for Eurodollar Loans if such designation will effect compliance with the law or regulation or interpretation thereof invoking the provisions of receiptthis Section 2.21; provided, however, that such designation need not be made if it would result in any additional costs, expenses or risks to the Bank that are not reimbursed by the Borrower pursuant hereto or would be in any other respect prejudicial to the Bank.
Appears in 1 contract
Sources: Revolving Credit Agreement (TSR Inc)
Change in Legality. (a) Notwithstanding any other provision anything to the contrary herein other than Section 2.14(c)contained, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof Regulatory Change shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loanhereby, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Admini- strative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a the Borrower for a shall be prohibited from requesting Eurodollar Borrowing shall, as to Loans from such Lender only, be deemed a request for an ABR Loan hereunder unless such declaration shall be is subsequently withdrawn; and
(ii) if such unlawfulness shall be effective prior to the end of any Interest Period of an outstanding Eurodollar Loan, require that all outstanding Eurodollar Loans with such Interest Periods made by it be converted to ABR Base Rate Loans, in which event (A) all such Eurodollar Loans shall be automatically be so converted to Base Rate Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause below and (iB) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Base Rate Loans made by such Lender in lieu of, or resulting from the conversion of, of such Eurodollar Loans.
(b) For purposes of this Section 2.132.15, a notice to the Borrower (with a copy to the Administrative Agent) by any Lender shall be effective as pursuant to each Eurodollar Loan, if lawful, on the last day of the Interest Period applicable to such Eurodollar Loan; in all other cases such notice paragraph (a) above shall be effective on the date of receiptreceipt thereof by the Borrower.
Appears in 1 contract
Sources: Revolving Credit Facility Agreement (Centurytel Inc)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Eurocurrency Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Eurocurrency Loan, then, by written or telecopy notice to Alcoa the Company and to the Administrative Agentagent, such Lender may:
(i) declare that Eurodollar Eurocurrency Loans will not thereafter be made by such Lender hereunder, whereupon any request by a Borrower for a Eurodollar Borrowing Eurocurrency Standby Loan shall, as to such Lender only, be deemed a request for an ABR Loan Loan, unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Eurocurrency Loans made by it be converted to ABR Loans, in which event all such Eurodollar Eurocurrency Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) aboveabove with respect to Eurocurrency Loans, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Eurocurrency Loans that would have been made by such Lender or the converted Eurodollar Loans Eurocurrency Loans, of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Eurocurrency Loans.
(b) For purposes of this Section 2.13, a notice by any Lender shall be effective as to each Eurodollar Eurocurrency Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Eurocurrency Loan; in all other cases such notice shall be effective on the date of receipt.
Appears in 1 contract
Sources: 364 Day Revolving Credit Facility Agreement (Itt Industries Inc)
Change in Legality. (a) Notwithstanding any other provision anything to the contrary herein other than Section 2.14(c)contained, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations to make Eurodollar Loans as contemplated hereby with respect to any Eurodollar Loanhereby, then, by written or telecopy notice to Alcoa Borrower and to the Administrative Agent, such Lender may:
(i1) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a the Borrower for a shall be prohibited from requesting Eurodollar Borrowing shall, as to Loans from such Lender only, be deemed a request for an ABR Loan hereunder unless such declaration shall be is subsequently withdrawn; and
(ii2) only in the event it is unlawful for such Lender to continue to maintain such Eurodollar Loans, require that all outstanding Eurodollar Loans made by it such Lender be converted to ABR Alternate Base Loans, in which event (A) all such Eurodollar Loans shall be automatically be so converted to Alternate Base Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause below and (iB) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Alternate Base Loans made by such Lender in lieu of, or resulting from the conversion of, of such Eurodollar Loans.
(b) For purposes of this Section 2.13, a notice by Loans in each case without any Lender shall be effective as liability to each Eurodollar Loan, if lawful, on the last day of the Interest Period applicable Borrower to such Eurodollar Loan; in all other cases Lender pursuant to Section 2.12 below as a result of such notice shall be effective on the date of receiptearly conversion.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change in in, or adoption of, any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender Bank to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender Bank may:
(i) declare that Eurodollar Loans will not thereafter there after be made by such Lender Bank hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender Bank only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender Bank shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender Bank or the converted Eurodollar Loans of such Lender Bank shall instead be applied to repay the ABR Loans made by such Lender Bank in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.14, a notice to the Borrower by any Lender Bank shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)of this Agreement, if any change Change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof Law shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender may:
(i) such Lender may declare that Eurodollar Loans will not thereafter (for the duration of such unlawfulness) be made by such Lender hereunder, whereupon any request by a Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan Loan, unless such declaration shall be subsequently withdrawn; and
(ii) such Lender may require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) belowof this Section 2.14. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which that would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.13, a notice by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt.
Appears in 1 contract
Sources: Revolving Credit Agreement (Community Choice Financial Inc.)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)anything to the contrary contained elsewhere in this Agreement, if any change after the date hereof in any law law, rule, regulation, guideline or regulation order, or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof thereof, shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any a Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans it will not thereafter be made by such Lender make Eurodollar Loans hereunder, whereupon any request by a the Borrower for a shall be prohibited from requesting such Eurodollar Borrowing shall, as to Loans from such Lender only, be deemed a request for an ABR Loan unless such declaration shall be is subsequently withdrawn; and
(ii) require that that, subject to the provisions of Section 2.10, all outstanding Eurodollar Loans made by it such Lender be converted to ABR Loansan Prime Rate Loan, in which event whereupon all of such Eurodollar Loans shall be automatically be so converted to a Prime Rate Loan as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.14, a notice to the Borrower by any a Lender pursuant to paragraph (a) above shall be effective as to each Eurodollar Loaneffective, for the purposes of paragraph (a) above, if lawful, and if any Eurodollar Loans shall then be outstanding, on the last day of the then current Interest Period applicable to such Eurodollar Loan; in all other cases Period, otherwise, such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change Change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof Law shall make it unlawful for any Lender or its Applicable Lending Office to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by such Lender shall give written or telecopy notice thereof to Alcoa the Company and to the Administrative AgentAgent and as long as such illegality, limitation or impracticality continues to exist, such Lender mayLender:
(i) may declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon such Lender shall not submit a Competitive Bid in response to a request for Eurodollar Competitive Loans, any request by a any Borrower for a Eurodollar Borrowing Loans shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require shall promptly enter into negotiations with the Company and negotiate in good faith to agree to a solution to such illegality, limitation or impracticability; PROVIDED, HOWEVER, that all outstanding Eurodollar Loans made if such an agreement has not been reached by it be converted to ABR Loans, in the date at which event all such Eurodollar Loans shall automatically be so converted as of the applicable notice becomes effective date of such notice as provided in paragraph (b) below. In , the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the affected Eurodollar Loans that would have been made by shall be automatically converted on such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar date into ABR Loans.
(b) For purposes of this Section 2.132.15, a notice by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt.
(c) Each Lender that has delivered a notice pursuant to paragraph (a) above, if the circumstances giving rise to such notice cease to exist, shall notify each applicable Borrower thereof as soon as practicable.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if after March 21, 1997, any change in any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which that would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.15, a notice to the Borrower by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision anything to the contrary herein other than Section 2.14(c)contained, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations to make Eurodollar Loans as contemplated hereby with respect to any Eurodollar Loanhereby, then, by written or telecopy notice to Alcoa Borrowers and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a Borrower for a the Borrowers shall be prohibited from requesting Eurodollar Borrowing shall, as to Loans from such Lender only, be deemed a request for an ABR Loan hereunder unless such declaration shall be is subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it such Lender be converted to ABR Alternate Base Loans, in which event (A) all such Eurodollar Loans shall be automatically be so converted to Alternate Base Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause below and (iB) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Alternate Base Loans made by such Lender in lieu of, or resulting from the conversion of, of such Eurodollar Loans.
(b) For purposes of this Section 2.132.11(a) hereof, a notice to the Borrowers by any Lender shall be effective as to each Eurodollar Loaneffective, if lawful, on the last day of the then current Interest Period applicable to or, if there are then two or more current Interest Periods, on the last day of each such Eurodollar LoanInterest Period, respectively; in all other cases otherwise, such notice shall be effective with respect to the Borrowers on the date of receiptreceipt by the Borrowers.
Appears in 1 contract
Sources: Credit Agreement (Airxcel Inc)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender Bank to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender Bank may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender Bank shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender Bank or the converted Eurodollar Loans of such Lender Bank shall instead be applied to repay the ABR Loans made by such Lender Bank in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.14, a notice to the Borrower by any Lender Bank shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 1 contract
Sources: 364 Day Competitive Advance and Revolving Credit Facility Agreement (Scripps E W Co /De)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) belowSection 2.14(b). In the event that any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.14, a notice to the Borrower by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 1 contract
Sources: Parity Debt Credit Agreement (Star Gas Partners Lp)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender Bank to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender Bank may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender Bank hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender Bank only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender Bank shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender Bank or the converted Eurodollar Loans of such Lender Bank shall instead be applied to repay the ABR Loans made by such Lender Bank in lieu of, of- or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.12, a notice to the Borrower by any Lender Bank shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)anything to the contrary contained elsewhere in this Credit Agreement, if any change after the Initial Date in any law Applicable Law, guideline or regulation order, or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof thereof, shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any a Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and the Administrative Agent, such Lender may:
may (i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a Borrower hereunder for a Eurodollar Borrowing shall, as to long as such Lender only, condition may be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
continuing and/or (ii) require that that, subject to Section 2.9(b), all outstanding Eurodollar Loans made by it be converted to ABR Alternate Base Rate Loans, in which event whereupon all of such Eurodollar Loans shall automatically be so converted to Alternate Base Rate Loans, as of the effective date of such notice as provided in paragraph (b) below. In the event Such Lender's pro rata portion of any Lender shall exercise its rights under clause (i) or (ii) abovesubsequent Eurodollar Loan shall, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by instead, be an Alternate Base Rate Loan unless such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loansdeclaration is subsequently withdrawn.
(b) For purposes of this Section 2.13, a A notice to the Borrower by any Lender pursuant to paragraph (a) above shall be effective as to each Eurodollar Loanfor purposes of clause (ii) thereof, if lawful, on the last day of the current Interest Period applicable to such for each outstanding Eurodollar Loan; and in all other cases such notice shall be effective cases, on the date of receiptreceipt of such notice by the Borrower.
Appears in 1 contract
Sources: Credit, Security, Guaranty and Pledge Agreement (Overseas Filmgroup Inc)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)anything to the contrary contained elsewhere in this Agreement, if any change after the date hereof in any law law, rule, regulation, guideline or regulation order, or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof thereof, shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any a Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrowers and the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans it will not thereafter be made by such Lender make Eurodollar Loans hereunder, whereupon any request by a Borrower for a the Borrowers shall be prohibited from requesting such Eurodollar Borrowing shall, as to Loans from such Lender only, be deemed a request for an ABR Loan unless such declaration shall be is subsequently withdrawn; and
(ii) require that that, subject to the provisions of Section 2.17, all outstanding Eurodollar Loans made by it such Lender be converted to ABR Loansan Alternate Base Rate Loan, in which event whereupon all of such Eurodollar Loans shall be automatically be so converted to an Alternate Base Rate Loan as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.21, a notice to the Borrowers by any a Lender pursuant to paragraph (a) above shall be effective as to each Eurodollar Loaneffective, for the purposes of paragraph (a) above, if lawful, and if any Eurodollar Loans shall then be outstanding, on the last day of the then current Interest Period applicable to such Eurodollar Loan; in all other cases Period, otherwise, such notice shall be effective on the date of receiptreceipt by the Borrowers.
Appears in 1 contract
Sources: Loan Agreement (Allied Devices Corp)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)anything to the contrary contained elsewhere in this Agreement, if any change after the date hereof in any law law, rule, regulation, guideline or regulation order, or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof thereof, shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any a Eurodollar Loan, then, by written or telecopy notice to Alcoa the Administrative Agent and the Administrative AgentBorrower, such Lender may:
(i) declare that Eurodollar Loans it will not thereafter be made by such Lender make Eurodollar Loans hereunder, whereupon any request by a the Borrower for a shall be prohibited from requesting such Eurodollar Borrowing shall, as to Loans from such Lender only, be deemed a request for an ABR Loan unless such declaration shall be is subsequently withdrawn; and
(ii) require that that, subject to the provisions of Section 2.10, all outstanding Eurodollar Loans made by it such Lender be converted to ABR Loansan Alternate Base Rate Loan, in which event whereupon all of such Eurodollar Loans shall be automatically be so converted to an Alternate Base Rate Loan as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.14, a notice to the Borrower by any a Lender pursuant to paragraph (a) above shall be effective as to each Eurodollar Loaneffective, for the purposes of paragraph (a) above, if lawful, and if any Eurodollar Loans shall then be outstanding, on the last day of the then current Interest Period applicable to such Eurodollar LoanPeriod; in all other cases otherwise, such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative AgentAgents, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon such Lender shall not submit a Competitive Bid in response to a request for Eurodollar Competitive Loans and any request by a Borrower for a Eurodollar Standby Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawnwithdrawn (any Lender delivering such a declaration hereby agreeing to withdraw such declaration promptly upon determining that such event of illegality no longer exists); and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which that would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.14, a notice by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change Change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof Law shall make it unlawful for any Lender or its Applicable Lending Office to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by such Lender shall give written or telecopy notice thereof to Alcoa the Company and to the Administrative AgentAgent and as long as such illegality, limitation or impracticality continues to exist, such Lender mayLender:
(i) may declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon and any request by a any Borrower for a Eurodollar Borrowing Loans shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require shall promptly enter into negotiations with the Company and negotiate in good faith to agree to a solution to such illegality, limitation or impracticability; provided, however, that all outstanding Eurodollar Loans made if such an agreement has not been reached by it be converted to ABR Loans, in the date at which event all such Eurodollar Loans shall automatically be so converted as of the applicable notice becomes effective date of such notice as provided in paragraph (b) below. In , the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the affected Eurodollar Loans that would have been made by shall be automatically converted on such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar date into ABR Loans.
(b) For purposes of this Section 2.132.14, a notice by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt.
(c) Each Lender that has delivered a notice pursuant to paragraph (a) above, if the circumstances giving rise to such notice cease to exist, shall notify each applicable Borrower thereof as soon as practicable.
Appears in 1 contract
Sources: Term Loan Agreement (Readers Digest Association Inc)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change in in, or adoption of, any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender Bank to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender Bank may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender Bank hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender Bank only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender Bank shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender Bank or the converted Eurodollar Loans of such Lender Bank shall instead be applied to repay the ABR Loans made by such Lender Bank in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.13, a notice to the Borrower by any Lender Bank shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)anything to the contrary contained elsewhere in this Agreement, if (x) any change after the date of this Agreement in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender a Bank to make or maintain any a Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to a Eurodollar Loan or (y) at any time any Bank determines that the making or continuance of any of its Eurodollar LoanLoans has become impracticable as a result of a contingency occurring after the date hereof which adversely affects the London interbank market or the position of such Bank in such market, then, by written or telecopy notice to Alcoa and the Administrative AgentSystemax, such Lender may:
Bank may (i) declare that Eurodollar Loans will not thereafter be made by such Lender Bank hereunder, whereupon any request by a Borrower Systemax for a Eurodollar Borrowing shall, as to such Lender Bank only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
and (ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender Bank shall exercise its rights under clause (i) or (ii) aboveof this paragraph (a), all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender Bank or the converted Eurodollar Loans of such Lender Bank shall instead be applied to repay the ABR Loans made by such Lender Bank in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.14, a notice to Systemax by any Lender Bank pursuant to paragraph (a) above shall be effective as to each Eurodollar Loaneffective, if lawful, and if any Eurodollar Loans shall then be outstanding, on the last day of the then-current Interest Period applicable to such Eurodollar Loan; in all other cases Period, otherwise, such notice shall be effective on the date of receiptreceipt by Systemax.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)anything to the contrary contained elsewhere in this Agreement, if any change after the date hereof in any law law, rule, regulation, guideline or regulation order, or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof thereof, shall make it unlawful for any Lender the Bank to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any a Eurodollar Loan, then, by written or telecopy notice to Alcoa and the Administrative AgentBorrower, such Lender the Bank may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a the Borrower for a shall be prohibited from requesting such Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan Loans hereunder unless such declaration shall be is subsequently withdrawn; and
(ii) require that that, subject to the provisions of Section 2.15, all outstanding Eurodollar Loans made by it be converted to ABR Loansan Alternate Base Rate Loan, in which event whereupon all of such Eurodollar Loans shall be automatically be so converted to an Alternate Base Rate Loan as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.18, a notice to the Borrower by any Lender the Bank pursuant to paragraph (a) above shall be effective as to each Eurodollar Loaneffective, for the purposes of paragraph (a) above, if lawful, and if any Eurodollar Loans shall then be outstanding, on the last day of the then current Interest Period applicable to such Eurodollar LoanPeriod; in all other cases otherwise, such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrowers and to the Administrative AgentAgents, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon such Lender shall not submit a Competitive Bid in response to a request for Eurodollar Competitive Loans and any request by a Borrower for a Eurodollar Standby Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawnwithdrawn (any Lender delivering such a declaration hereby agreeing to withdraw such declaration promptly upon determining that such event of illegality no longer exists); and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.14, a notice by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any subsequent request by a the Borrower for a Eurodollar Borrowing shall, ,as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (bparagraph(b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.20, a notice to the Borrower by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if the adoption of or any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing Loan shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause subparagraphs (i) or and (ii) above, all payments and prepayments of principal which that would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.14, a notice to the Borrower by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 1 contract
Sources: Second Lien Credit Agreement (Graham Packaging Holdings Co)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change Lender determines that any Change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof Law shall make it unlawful for any such Lender to make or maintain any Eurodollar EurodollarSOFR Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar EurodollarSOFR Loan, then, by prompt written or telecopy notice to Alcoa each Borrower and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar EurodollarSOFR Loans will not thereafter be made by such Lender hereunder, whereupon any request by a any Borrower for a Eurodollar EurodollarSOFR Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless and until such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar EurodollarSOFR Loans made by it be converted to ABR Loans, in which event all such Eurodollar EurodollarSOFR Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph Section 2.10(c).
(b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) abovegive notice pursuant to Section 2.10(a), all payments and prepayments of principal which that would otherwise have been applied to repay the Eurodollar EurodollarSOFR Loans that would have been made by such Lender or the converted Eurodollar EurodollarSOFR Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar EurodollarSOFR Loans.
(bc) For purposes of this Section 2.132.10, a notice to any Borrower by any Lender shall be effective as to each Eurodollar EurodollarSOFR Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar EurodollarSOFR Loan; in all other cases such notice shall be effective on the date of receiptreceipt by such Borrower.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change in in, or adoption of, any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender Bank to make or maintain any 42 37 Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender Bank may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender Bank hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender Bank only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender Bank shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender Bank or the converted Eurodollar Loans of such Lender Bank shall instead be applied to repay the ABR Loans made by such Lender Bank in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.14, a notice to the Borrower by any Lender Bank shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt.
Appears in 1 contract
Sources: Credit Agreement (Avista Corp)
Change in Legality. (a) Notwithstanding Notwith standing any other provision herein other than Section 2.14(c), if any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa and the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall automatically be so converted as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.13, a notice by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision anything to the contrary herein other than Section 2.14(c)contained, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations to make Eurodollar Loans as contemplated hereby with respect to any Eurodollar Loanhereby, then, by written or telecopy notice to Alcoa Borrowers and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a Borrower for a the Borrowers shall be prohibited from requesting Eurodollar Borrowing shall, as to Loans from such Lender only, be deemed a request for an ABR Loan hereunder unless such declaration shall be is subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans Loans, as the case may be, made by it be converted to ABR Alternate Base Loans, in which event (A) all such Eurodollar Loans shall be automatically be so converted to Alternate Base Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause below and (iB) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Alternate Base Loans made by such Lender in lieu of, or resulting from the conversion of, of such Eurodollar Loans.
(b) For purposes of this Section 2.132.11(a) hereof, a notice to the Borrowers by any Lender shall be effective as to each Eurodollar Loaneffective, if lawful, on the last day of the then current Interest Period applicable to or, if there are then two or more current Interest Periods, on the last day of each such Eurodollar LoanInterest Period, respectively; in all other cases otherwise, such notice shall be effective with respect to the Borrowers on the date of receiptreceipt by the Borrowers.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision anything to the contrary herein other than Section 2.14(c)contained, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged governmental authority charge with the administration or interpretation thereof shall make it unlawful for any Lender the Bank to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa and the Administrative AgentBorrower, such Lender the Bank may:
: (i) declare that Eurodollar Loans will not thereafter be made by such Lender the Bank hereunder, whereupon any request by a the Borrower for a shall prohibited from the requesting Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan Loans from the Bank hereunder unless such declaration shall be is subsequently withdrawn; and
and (ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Fluctuating Rate Loans, in which event (x) all such Eurodollar Loans shall be automatically be so converted as to Fluctuating Rate Loans a of the effective date of such notice as a provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (ibelow and 9y) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Fluctuating Rate Loans made by such Lender in lieu of, or resulting from the conversion of, of such Eurodollar Loans.
(b) For purposes of this Section 2.13Section, (i) a notice to the Borrower by any Lender the Bank pursuant to paragraph (a) above shall be effective as to each Eurodollar Loaneffective, if lawful, on the last day of the then current Interest Period applicable to such Eurodollar LoanPeriod; in all other cases cases, such notice shall be effective on the date day of receiptreceipt of the Borrower and (ii) all references to the "Bank" shall be deemed to include any participants in the Commitment and/or the loans.
Appears in 1 contract
Sources: Loan Agreement (Chyron Corp)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)anything to the contrary contained elsewhere in this Credit Agreement, if any change after the date hereof in any law Applicable Law, guideline or regulation order, or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof thereof, shall make it unlawful for any Lender to make or maintain any Bankers' Acceptances or Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any a Eurodollar LoanLoan or Bankers' Acceptances, then, by written or telecopy notice to Alcoa the Borrowers and the Administrative Agent or the Canadian Agent, as applicable, such Lender may:
may (i) declare that Eurodollar Loans will not thereafter be made or Bankers' Acceptances accepted, as applicable, by such Lender hereunder, whereupon any request by a Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
hereunder and/or (ii) require that that, subject to Section 2.10 all outstanding Bankers' Acceptances or Eurodollar Loans made by it be converted to ABR Canadian Prime Rate Loans or Alternate Base Rate Loans, in which event as applicable, whereupon all of such Bankers' Acceptances or Eurodollar Loans shall automatically be so converted to Canadian Prime Rate Loans or Alternate Base Rate Loans, as applicable, as of the effective date of such notice as provided in paragraph (b) below. In the event Such Lender's Pro Rata Share of any Lender shall exercise its rights under clause (i) subsequent Bankers' Acceptance or (ii) aboveEurodollar Loan shall, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by instead, be a Canadian Prime Rate Loan or an Alternate Base Rate Loan, as applicable, unless such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loansdeclaration is subsequently withdrawn.
(b) For purposes of this Section 2.13, a A notice to the Borrowers by any Lender pursuant to paragraph (a) above shall be effective as to each Eurodollar Loanfor purposes of clause (ii) thereof, if lawful, on the last day of the current Interest Period applicable to such for each outstanding Eurodollar Loan; and in all other cases such notice shall be effective cases, on the date of receiptreceipt of such notice by the Borrowers.
Appears in 1 contract
Sources: Credit, Security, Guaranty and Pledge Agreement (Lions Gate Entertainment Corp /Cn/)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if after the date hereof any change in any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which that would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.15, a notice to the Borrower by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 1 contract
Sources: Credit Agreement (Ta Operating Corp)
Change in Legality. (a) Notwithstanding any other provision anything to the contrary herein other than Section 2.14(c)contained, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender the Bank to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa and the Administrative AgentBorrowers, such Lender the Bank may:
: (i) declare that Eurodollar Loans will not thereafter be made by such Lender the Bank hereunder, whereupon any request by a Borrower for a the Borrowers shall be prohibited from requesting Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan Loans from the Bank hereunder unless such declaration shall be is subsequently withdrawn; and
and (ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Fluctuating Rate Loans, in which event (x) all such Eurodollar Loans shall be automatically be so converted to Fluctuating Rate Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause below and (iy) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Fluctuating Rate Loans made by such Lender in lieu of, or resulting from the conversion of, of such Eurodollar Loans.
(b) For purposes of this Section 2.13Section, (i) a notice to the Borrowers by any Lender the Bank pursuant to paragraph (a) above shall be effective as to each Eurodollar Loaneffective, if lawful, on the last day of the then current Interest Period applicable to such Eurodollar LoanPeriod; in all other cases 10 11 cases, such notice shall be effective on the date day of receiptreceipt by the Borrowers and (ii) all references to the "Bank" shall be deemed to include any participant in the Commitment and/or the loans.
Appears in 1 contract
Sources: Loan Agreement (Fresh Juice Co Inc)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if after the date hereof any change in any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause subparagraph (i) or (ii) above, all payments and prepayments of principal which that would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.15, a notice to the Borrower by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 1 contract
Sources: Amendment Agreement (Eckerd Corp)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change Change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof Law shall make it unlawful for any Lender or its applicable lending office to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by such Lender shall give written or telecopy notice thereof to Alcoa the Company and to the Administrative AgentAgent and as long as such illegality, limitation or impracticality continues to exist, such Lender mayLender:
(i) may declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon and any request by a any Borrower for a Eurodollar Borrowing Loans shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require shall promptly enter into negotiations with the Company and negotiate in good faith to agree to a solution to such illegality, limitation or impracticability; PROVIDED, HOWEVER, that all outstanding Eurodollar Loans made if such an agreement has not been reached by it be converted to ABR Loans, in the date at which event all such Eurodollar Loans shall automatically be so converted as of the applicable notice becomes effective date of such notice as provided in paragraph (b) below. In , the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the affected Eurodollar Loans that would have been made by shall be automatically converted on such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar date into ABR Loans.
(b) For purposes of this Section 2.132.16, a notice by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt.
(c) Each Lender that has delivered a notice pursuant to paragraph (a) above, if the circumstances giving rise to such notice cease to exist, shall notify each applicable Borrower thereof as soon as practicable.
Appears in 1 contract
Sources: Revolving Credit Agreement (Readers Digest Association Inc)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any any, Eurodollar Loan or to give effect to its obligations as contemplated hereby with 35 31 respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrower and to the Administrative AgentAgents, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon such Lender shall not submit a Competitive Bid in response to a request for Eurodollar Competitive Loans and any request by a Borrower for a Eurodollar Standby Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawnwithdrawn (any Lender delivering such a declaration hereby agreeing to withdraw such declaration promptly upon determining that such event of illegality no longer exists); and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.13, a notice by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receipt.
Appears in 1 contract
Sources: Competitive Advance and Revolving Credit Facility Agreement (Texas Utilities Electric Co)
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)anything to the contrary contained elsewhere in this Agreement, if (x) any change in any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender a Bank to make or maintain any a Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to a Eurodollar Loan or (y) at any time any Bank determines that the making or continuance of any of its Eurodollar LoanLoans has become impracticable as a result of a contingency occurring after the date hereof which adversely affects the London interbank market or the position of such Bank in such market, then, by written or telecopy notice to Alcoa and the Administrative AgentBorrower, such Lender may:
Bank may (i) declare that Eurodollar Loans will not thereafter be made by such Lender Bank hereunder, whereupon any request by a the Borrower for a Eurodollar Borrowing shall, as to such Lender Bank only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
and (ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender Bank shall exercise its rights under clause (i) or (ii) aboveof this paragraph (a), all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender Bank or the converted Eurodollar Loans of such Lender Bank shall instead be applied to repay the ABR Loans made by such Lender Bank in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.13, a notice to the Borrower by any Lender Bank pursuant to paragraph (a) above shall be effective as to each Eurodollar Loaneffective, if lawful, and if any Eurodollar Loans shall then be outstanding, on the last day of the then-current Interest Period applicable to such Eurodollar Loan; in all other cases Period, otherwise, such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 1 contract
Sources: Revolving Credit and Guaranty Agreement (Carson Pirie Scott & Co /Il/)
Change in Legality. (aA) Notwithstanding any other provision anything to the contrary herein other than Section 2.14(c)contained, if any change in any law or regulation or in the interpretation thereof by any Governmental Authority governmental authority charged with the administration or interpretation thereof shall make it unlawful for any Lender Bank to make or maintain any Eurodollar Loan or to give effect to its obligations to make Eurodollar Loans as contemplated hereby with respect to any Eurodollar Loanhereby, then, by written or telecopy notice to Alcoa and the Administrative AgentBorrower, such Lender Bank may:
(i1) declare Declare that Eurodollar Loans will not thereafter be made by such Lender Bank hereunder, whereupon any request by a the Borrower for a shall be prohibited from requesting Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan Loans from the Banks hereunder unless such declaration shall be is subsequently withdrawn; and
(ii2) require Require that all outstanding Eurodollar Loans made by it be converted to ABR Floating Rate Loans, in which event (a) all such Eurodollar Loans shall be automatically be so converted to Floating Rate Loans as of the effective date of such notice as provided in paragraph (B) below, and (b) below. In the event any Lender shall exercise its rights under clause (i) or (ii) above, all payments and prepayments of principal which that would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the Floating Rate Loans made by such Lender in lieu of, or resulting from the conversion of, of such Eurodollar Loans.
(bB) For purposes of this Section 2.13Paragraph 2.12, a notice to the Borrower by any Lender Bank, pursuant to (A) above, shall be effective as to each Eurodollar Loaneffective, if lawful, on the last day of the then current Eurodollar Interest Period applicable to such Eurodollar LoanPeriod; in all other cases cases, such notice shall be effective on the date of receiptreceipt by the Borrower.
Appears in 1 contract
Change in Legality. (a) Notwithstanding any other provision herein other than Section 2.14(c)herein, if the adoption of or any change in any law or regulation or in the interpretation thereof by any Governmental Authority charged with the administration or interpretation thereof shall make it unlawful for any Lender to make or maintain any Eurodollar Loan or to give effect to its obligations as contemplated hereby with respect to any Eurodollar Loan, then, by written or telecopy notice to Alcoa the Borrowers and to the Administrative Agent, such Lender may:
(i) declare that Eurodollar Loans will not thereafter be made by such Lender hereunder, whereupon any request by a Borrower for a Eurodollar Borrowing shall, as to such Lender only, be deemed a request for an ABR Loan unless such declaration shall be subsequently withdrawn; and
(ii) require that all outstanding Eurodollar Loans made by it be converted to ABR Loans, in which event all such Eurodollar Loans shall be automatically be so converted to ABR Loans as of the effective date of such notice as provided in paragraph (b) below. In the event any Lender shall exercise its rights under clause subparagraphs (i) or and (ii) above, all payments and prepayments of principal which would otherwise have been applied to repay the Eurodollar Loans that would have been made by such Lender or the converted Eurodollar Loans of such Lender shall instead be applied to repay the ABR Loans made by such Lender in lieu of, or resulting from the conversion of, such Eurodollar Loans.
(b) For purposes of this Section 2.132.12, a notice to the Borrowers by any Lender shall be effective as to each Eurodollar Loan, if lawful, on the last day of the Interest Period currently applicable to such Eurodollar Loan; in all other cases such notice shall be effective on the date of receiptreceipt by the Borrowers.
Appears in 1 contract