SEC Filings

10-12G/A
AMSURG CORP filed this Form 10-12G/A on 05/09/1997
Entire Document
 
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                          forthwith be suspended for the duration of such
                          illegality. Upon the happening of such event, Agent
                          or any of the Lenders shall notify Borrower thereof
                          in writing, and Borrower, at its election, shall, on
                          the earlier of (i) the last day of the then current
                          LIBOR-Based Rate Period or (ii) if required by such
                          law, regulation or interpretation, on such date as
                          shall be specified in such notice, either convert the
                          unlawful LIBOR-Based Rate to the Base Rate or repay
                          such of the Revolving Credit Notes, without penalty,
                          to Agent or any of the Lenders, as designated by
                          Agent, in full, together with all interest accrued
                          thereon.

                                    (iv)   Other Changes Rendering Use of
                          LIBOR-Based Rate a Severe Hardship. In the event that
                          on any date after the Closing Date Agent or any of
                          the Lenders shall reasonably determine (which
                          determination shall be conclusive and binding on the
                          parties hereto, absent demonstrable error) that the
                          use and/or application of the LIBOR-Based Rate will
                          cause the Agent or any of the Lenders severe hardship
                          as a result of a contingency occurring after the date
                          of this Agreement; then, and in any such event, the
                          Agent and the affected Lenders shall give telephonic
                          notice (immediately confirmed in writing) to the
                          Borrower of such determination, and the obligation of
                          the Agent and such of the affected Lenders to offer
                          or permit the selection of the LIBOR-Based Rate shall
                          be terminated at the earlier of the end of the then
                          current LIBOR-Based Rate Period, and upon such date
                          the Borrower, at its option shall either repay such
                          Revolving Credit Note, without penalty, together with
                          all interest accrued thereon, or convert such
                          Revolving Credit Note to the Base Rate.

                                    (v)    Adjustments to Rate to Cover
                          Additional Cost. It is the intention of the parties
                          that the LIBOR-Based Rate shall accurately reflect
                          the cost to the Lenders of maintaining loans at the
                          LIBOR-Based Rate during the applicable LIBOR-Based
                          Rate Period.  Accordingly:

                                           (i)     if by reason of any change
                                    after the date hereof in any applicable law
                                    or governmental rule, regulation or order
                                    (or any interpretation thereof and
                                    including the introduction of any new law
                                    or governmental rule, regulation or order),
                                    including any change in the LIBOR reserve
                                    requirement, the cost to either of the
                                    Lenders of maintaining loans at the
                                    LIBOR-Based Rate or funding the same by
                                    means of a London interbank market time
                                    deposit, as the case may be, shall
                                    increase, the LIBOR-Based Rate then charged
                                    by any of the Lenders shall be adjusted as
                                    necessary to reflect such change in





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