Absence of quotations by Reference Banks. If any Reference Bank fails to supply a quotation, the Agent shall determine the relevant LIBOR on the basis of the quotations supplied by the other Reference Bank or Banks; but if 2 or more of the Reference Banks fail to provide a quotation, the relevant rate of interest shall be set in accordance with the following provisions of this Clause 5.
Appears in 37 contracts
Samples: Loan Agreement, Loan Agreement (EuroDry Ltd.), Loan Agreement (EuroDry Ltd.)
Absence of quotations by Reference Banks. If any Reference Bank fails to supply a quotation, the Agent shall determine the relevant LIBOR on the basis of the quotations supplied by the other Reference Bank or Banks; Bank(s) but if 2 two or more of the Reference Banks fail (or, if at any time there is only one Reference Bank, that Reference Bank fails) to provide a quotation, the relevant rate of interest shall be set in accordance with the following provisions of this Clause 5.
Appears in 11 contracts
Samples: Loan Agreement (Global Ship Lease, Inc.), Loan Agreement (Navios Maritime Partners L.P.), Amending and Restating Agreement (Navios Maritime Acquisition CORP)
Absence of quotations by Reference Banks. If any Reference Bank fails to supply a quotation, the Agent shall determine the relevant LIBOR on the basis of the quotations supplied by the other Reference Bank or Banks; Banks but if 2 two (2) or more of the Reference Banks fail to provide a quotation, the relevant rate of interest shall be set in accordance with the following provisions Clauses 5.7 to 5.12 of this Clause 5Agreement.
Appears in 9 contracts
Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)
Absence of quotations by Reference Banks. If any Reference Bank fails to supply a quotation, the Agent shall determine the relevant LIBOR on the basis of the quotations supplied by the other Reference Bank or Banks; but if 2 or more of the no Reference Banks fail to provide Bank provides a quotation, the relevant rate of interest shall be set in accordance with the following provisions of this Clause 5.
Appears in 5 contracts
Samples: Loan Agreement (Navios Maritime Acquisition CORP), Amending and Restating Agreement (Box Ships Inc.), Loan Agreement (Box Ships Inc.)
Absence of quotations by Reference Banks. If any Reference Bank fails to supply a quotationquotation required of it, the Agent shall determine the relevant LIBOR on the basis of the quotations supplied by the other Reference Bank or Banks; but if 2 or more of the Reference Banks fail to provide a quotation, the relevant rate of interest shall be set in accordance with the following provisions of this Clause 5.
Appears in 4 contracts
Samples: Loan Agreement (Paragon Shipping Inc.), Loan Agreement (Paragon Shipping Inc.), Facility Agreement (NewLead Holdings Ltd.)
Absence of quotations by Reference Banks. If any Reference Bank fails to supply a quotationquotation when it is required to do so, the Agent shall determine the relevant LIBOR on the basis of the quotations supplied by the other Reference Bank or Banks; but if 2 or more of the Reference Banks fail to provide a quotation, the relevant rate of interest shall be set in accordance with determined by the following provisions of this Clause 5Agent.
Appears in 4 contracts
Samples: Facility Agreement (Navios Maritime Partners L.P.), Supplemental Agreement (Navios Maritime Containers Inc.), Facility Agreement (Navios Maritime Partners L.P.)
Absence of quotations by Reference Banks. If any Reference Bank fails to supply a quotation, the Agent shall determine the relevant LIBOR on the basis of the quotations supplied by the other Reference Bank or Banks; Banks but if 2 two (2) or more of the Reference Banks fail to provide a quotation, the relevant rate of interest shall be set in accordance with the following provisions of this Clause 5.
Appears in 4 contracts
Samples: Loan Agreement (Scorpio Bulkers Inc.), Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Tankers Inc.)
Absence of quotations by Reference Banks. If any Reference Bank fails to supply a quotation, the Agent shall determine the relevant LIBOR on the basis of the quotations supplied by the any other Reference Bank or Banks; but if 2 or more of the no Reference Banks fail to provide Bank provides a quotation, the relevant rate of interest shall be set in accordance with the following provisions of this Clause 5.
Appears in 3 contracts
Samples: Loan Agreement, Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (Seanergy Maritime Holdings Corp.)
Absence of quotations by Reference Banks. If any Reference Bank fails to supply a quotationquotation when required, the Agent shall determine the relevant LIBOR on the basis of the quotations supplied by the other Reference Bank or Banks; but if 2 or more of the Reference Banks fail to provide a quotation, the relevant rate of interest shall be set in accordance with the following provisions of this Clause 5.
Appears in 2 contracts
Samples: Loan Agreement (Tsakos Energy Navigation LTD), Loan Agreement (Britannia Bulk Holdings Inc)
Absence of quotations by Reference Banks. If any Reference Bank fails to supply a quotation, the Agent shall determine the relevant LIBOR on the basis of the quotations supplied by the other Reference Bank or Banks; Bank(s) but if 2 two or more of the Reference Banks fail (or, if at any time there is only one Reference Bank, that Reference Bank fails) to provide a quotation, the relevant rate of interest shall be set in accordance with the following provisions of this Clause 55 (Interest).
Appears in 2 contracts
Samples: Loan Agreement (Castor Maritime Inc.), Loan Agreement (Navios Maritime Acquisition Corp)
Absence of quotations by Reference Banks. If any Reference Bank fails to supply a quotationquotation when required, the Agent shall determine the relevant LIBOR on the basis of the quotations supplied by the other Reference Bank or Banks; but if less than 2 or more of the Reference Banks fail to provide a quotation, the relevant rate of interest shall be set in accordance with the following provisions of this Clause 5.
Appears in 2 contracts
Samples: Loan Agreement (Grindrod Shipping Holdings Pte. Ltd.), Loan Agreement (Euronav NV)
Absence of quotations by Reference Banks. If any Reference Bank fails to supply a quotation, the Agent shall determine the relevant LIBOR on the basis of the quotations supplied by the other Reference Bank or Banks; but if 2 or more of the Reference Banks fail to provide a quotation, the relevant rate of interest shall be set in accordance with the following provisions of this Clause 5.
Appears in 2 contracts
Samples: Amending and Restating Agreement (Paragon Shipping Inc.), Loan Agreement (Paragon Shipping Inc.)
Absence of quotations by Reference Banks. If any Reference Bank fails to supply a quotation, the Agent shall determine the relevant LIBOR on the basis of the quotations supplied by the other Reference Bank or Banks; but if 2 or more of the Reference Banks fail to provide a quotation, the relevant rate of interest shall be set in accordance with the following provisions of this Clause 55 (Interest).
Appears in 1 contract
Absence of quotations by Reference Banks. If If, in such circumstances, any Reference Bank fails to supply a quotation, the Administrative Agent shall determine the relevant LIBOR for the Interest Period concerned on the basis of the quotations supplied by the other Reference Bank or Banks; but if 2 two (2) or more of the Reference Banks fail to provide a quotation, the relevant rate of interest shall be set in accordance with the following provisions of this Clause Section 5.
Appears in 1 contract
Samples: Senior Secured Credit Facility Agreement (Pacific Drilling S.A.)
Absence of quotations by Reference Banks. If any Reference Bank fails to supply a quotation, the Agent shall determine the relevant LIBOR on the basis of the quotations supplied by the other Reference Bank or Banks; but if 2 or more of the Reference Banks fail to provide a quotation, the relevant rate of interest shall be set in accordance with the following provisions of this Clause 5.
Appears in 1 contract
Samples: Loan Agreement (Top Ships Inc.)
Absence of quotations by Reference Banks. If any Reference Bank fails to supply a quotation, the Agent shall determine the relevant LIBOR on the basis of the quotations supplied by the other Reference Bank or Banks; but if 2 or more one of the Reference Banks fail to provide a quotation, the relevant rate of interest shall be set in accordance with the following provisions of this Clause 5.
Appears in 1 contract
Samples: Loan Agreement (Diana Shipping Inc.)
Absence of quotations by Reference Banks. If any Reference Bank fails to supply a quotation, the Agent Lender shall determine the relevant LIBOR on the basis of the quotations supplied by the other Reference Bank or Banks; but if 2 or more of the Reference Banks fail to provide a quotation, the relevant rate of interest shall be set in accordance with the following provisions of this Clause 50.
Appears in 1 contract
Absence of quotations by Reference Banks. If any Reference Bank fails to supply a quotation, the Agent shall determine the relevant LIBOR on the basis of the quotations supplied by the other Reference Bank or Banks; but if 2 or more of the Reference Banks fail to provide a quotation, the relevant rate of interest shall be set in accordance with the following provisions of this Clause 5.Banks
Appears in 1 contract
Samples: Amending and Restating Agreement
