Common use of Absence of quotations Clause in Contracts

Absence of quotations. Subject to Clause 10.2 (Market disruption), if a Base Rate is to be determined by reference to the Reference Banks but a Reference Bank does not supply a quotation by the Specified Time on the Quotation Day, the applicable Base Rate shall be determined on the basis of the quotations of the remaining Reference Banks.

Absence of quotations. Subject to Clause 10.2 11.2 (Market disruption), if a Base the Applicable Benchmark Rate is to be determined by reference to the Reference Banks but a Reference Bank does not supply a quotation by the Specified Time on the relevant Quotation Day, the applicable Base Applicable Benchmark Rate shall be determined on the basis of the quotations of the remaining Reference Banks.

Absence of quotations. Subject to Clause 10.2 (Market disruption), if a the Base Rate is to be determined by reference to the Reference Banks but a Reference Bank does not supply a quotation Reference Bank Quotation by the Specified Time on the Quotation Day, the applicable Base Rate shall be determined on the basis of the quotations Reference Bank Quotations of the remaining Reference Banks.