Common use of Laws Affecting LIBOR Rate Availability Clause in Contracts

Laws Affecting LIBOR Rate Availability. Subject to clause (c) below, if, after the date hereof, the introduction of, or any change in, any applicable law or any change in the interpretation or administration thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any of the Lenders (or any of their respective lending offices) with any request or directive (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency, shall make it unlawful or impossible for any of the Lenders (or any of their respective lending offices) to honor its obligations hereunder to make or maintain any Eurodollar Loan, such Lender shall promptly give notice thereof to the Administrative Agent and the Administrative Agent shall promptly give notice to the Borrower and the other Lenders. Thereafter, until the Administrative Agent notifies the Borrower that such circumstances no longer exist, (i) the obligations of the Lenders to make Eurodollar Loans, and the right of the Borrower to convert any Loan to a Eurodollar Loan or continue any Loan as a Eurodollar Loan shall be suspended and thereafter the Borrower may select only ABR Loans and (ii) if any of the Lenders may not lawfully continue to maintain a Eurodollar Loan to the end of the then current Interest Period applicable thereto, the applicable Loan shall immediately be converted to an ABR Loan for the remainder of such Interest Period.

Laws Affecting LIBOR Rate Availability. Subject to clause (c) below, ifIf, after the date hereof, the introduction of, or any change in, any applicable law Applicable Law or any change in the interpretation or administration thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any of the Lenders Lender (or any of their respective lending officesLending Offices) with any request or directive (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency, shall make it unlawful or impossible for any of the Lenders (or any of their respective lending officesLending Offices) to honor its obligations hereunder to make or maintain any Eurodollar LIBOR Rate Loan, such Lender shall promptly give notice thereof to the Administrative Agent and the Administrative Agent shall promptly give notice to the Borrower and the other Lenders. Thereafter, until the Administrative Agent notifies the Borrower that such circumstances no longer exist (which notification shall be given promptly, but in any event within ten (10) days after the Agent obtains actual knowledge that such circumstances no longer exist), (i) the obligations of the Lenders to make Eurodollar Loans, LIBOR Rate Loans and the right of the Borrower to convert any Loan to a Eurodollar Loan or continue any Loan as a Eurodollar LIBOR Rate Loan shall be suspended and thereafter the Borrower may select only ABR Base Rate Loans hereunder, and (ii) if any of the Lenders may not lawfully continue to maintain a Eurodollar LIBOR Rate Loan to the end of the then current Interest Period applicable theretothereto as a LIBOR Rate Loan, the applicable LIBOR Rate Loan shall immediately be converted to an ABR a Base Rate Loan for the remainder of such Interest Period.

Laws Affecting LIBOR Rate Availability. Subject to clause (c) below, ifIf, after the date hereof, the introduction of, or any change in, any applicable law Applicable Law or any change in the interpretation or administration thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any of the Lenders Lender (or any of their respective lending officesLending Offices) with any request or directive (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency, shall make it unlawful or impossible for any of the Lenders (or any of their respective lending officesLending Offices) to honor its obligations hereunder to make or maintain any Eurodollar Loan, such Lender shall promptly give notice thereof to the Administrative Agent and the Administrative Agent shall promptly give notice to the Borrower and the other Lenders. Thereafter, until the Administrative Agent notifies the Borrower that such circumstances no longer exist (which notification shall be given promptly, but in any event within ten (10) days after the Agent obtains actual knowledge that such circumstances no longer exist), (i) the obligations of the Lenders to make Eurodollar Loans, shall be suspended, and the right Borrower shall repay in full (or cause to be repaid in full) the then outstanding principal amount of each such Loan, together with accrued interest thereon, on the Borrower to convert any Loan to a Eurodollar Loan or continue any Loan as a Eurodollar Loan shall be suspended and thereafter the Borrower may select only ABR Loans and (ii) if any of the Lenders may not lawfully continue to maintain a Eurodollar Loan to the end last day of the then current Interest Period applicable thereto, to such Loan or convert the applicable then outstanding principal amount of such Loans and Reimbursement Obligations to a Base Rate Loan shall immediately be converted to an ABR Loan for as of the remainder last day of such Interest Period.

Laws Affecting LIBOR Rate Availability. Subject to clause (c) below, ifIf, after the date hereof, the introduction of, or any change in, any applicable law Applicable Law or any change in the interpretation or administration thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any of the Lenders Banks (or any of their respective lending offices) with any request or directive (whether or not having the force of law) of any such Governmental Authority, central bank or comparable agency, shall make it unlawful or impossible for any of the Lenders Banks (or any of their respective lending offices) to honor its obligations hereunder to make or maintain any Eurodollar LoanBorrowing, such Lender Banks shall promptly give notice thereof to the Administrative Agent and the Administrative Agent shall promptly give notice to the Borrower and the other LendersBanks. Thereafter, until the Administrative Agent notifies the Borrower that such circumstances no longer exist, (i) the obligations of the Lenders Banks to make Eurodollar LoansBorrowings, and the right of the Borrower to convert any Loan to a Eurodollar Loan Borrowing or continue any Loan as a Eurodollar Loan Borrowing shall be suspended (the “Affected Loans”) and thereafter the Borrower may select only ABR Loans Adjusted Base Rate Borrowings and (ii) if any of the Lenders Banks may not lawfully continue to maintain a Eurodollar an Affected Loan to the end of the then current Interest Period applicable thereto, the applicable Affected Loan shall immediately be converted to an ABR Loan Adjusted Base Rate Borrowing for the remainder of such Interest Period.