Alternative basis of interest or funding. If a Market Disruption Event occurs and the Agent or the Borrower so requires, the Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. Any alternative basis agreed pursuant to this Clause 13.2 shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 7 contracts
Samples: Senior Secured Credit Facility Agreement, Senior Secured Credit Facility Agreement, Senior Secured Credit Facility Agreement
Alternative basis of interest or funding. 12.3.1 If a Market Disruption Event occurs and the Agent or the Borrower so requires, the Agent and the Borrower Obligors’ Agent shall enter into negotiations (for a period of not more than thirty (30) 30 days) with a view to agreeing a substitute basis for determining the rate of interest. .
12.3.2 Any alternative basis agreed pursuant to this Clause 13.2 12.3.1 above shall, with the prior consent of all the Lenders and the BorrowerObligors’ Agent, be binding on all Parties.
Appears in 4 contracts
Samples: Term Facility Agreement (Enstar Group LTD), Term Facility Agreement (Enstar Group LTD), Term Facility Agreement (Enstar Group LTD)
Alternative basis of interest or funding. a) If a Market Disruption Event occurs and the Agent or the Borrower so requires, the Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. .
b) Any alternative basis agreed pursuant to this Clause 13.2 paragraph a) above shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 4 contracts
Samples: Facility Agreement (NORDIC AMERICAN TANKERS LTD), Facility Agreement (Nordic American Offshore Ltd.), Facility Agreement (Nordic American Offshore Ltd.)
Alternative basis of interest or funding. If a Market Disruption Event occurs and the Agent or the Borrower so requires, the Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interestinterest instead of LIBOR. Any alternative basis agreed pursuant to this Clause 13.2 11.2 shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 3 contracts
Samples: Senior Secured Credit Facility Agreement (Seadrill Partners LLC), Senior Secured Credit Facility Agreement (North Atlantic Drilling Ltd.), Senior Secured Credit Facility Agreement (Ocean Rig UDW Inc.)
Alternative basis of interest or funding. 10.3.1 If a Market Disruption Event occurs and the Agent or the Borrower so requires, the Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. .
10.3.2 Any alternative basis agreed pursuant to this Clause 13.2 10.3.1 shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 3 contracts
Samples: Secured Loan Agreement (Scorpio Bulkers Inc.), Loan Agreement (Scorpio Bulkers Inc.), Secured Loan Agreement (Safe Bulkers, Inc.)
Alternative basis of interest or funding. 10.3.1 If a Market Disruption Event occurs and the Agent or the Borrower so requires, the Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) 30 days) with a view to agreeing a substitute basis for determining the rate of interest. .
10.3.2 Any alternative basis agreed pursuant to this Clause 13.2 clause 10.3.1 above shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 2 contracts
Samples: Supplemental Agreement (Navigator Holdings Ltd.), Facility Agreement (Navigator Holdings Ltd.)
Alternative basis of interest or funding. a) If a Market Disruption Event occurs and the Agent or the Borrower so requiresrequire, the Agent and the Borrower shall must enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. .
b) Any alternative basis agreed pursuant to this Clause 13.2 shallparagraph a) above will, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 2 contracts
Samples: Term Loan Facility Agreement (DHT Holdings, Inc.), Term Loan Facility Agreement (DHT Holdings, Inc.)
Alternative basis of interest or funding. 12.3.1 If a Market Disruption Event occurs and the Agent or the Borrower so requires, the Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) 15 days) with a view to agreeing a substitute basis for determining the rate of interest. .
12.3.2 Any alternative basis agreed pursuant to this Clause 13.2 clause 12.3.1 shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 2 contracts
Samples: Facilities Agreement (International Shipping Enterprises, Inc.), Facilities Agreement (International Shipping Enterprises, Inc.)
Alternative basis of interest or funding. If a Market Disruption Event occurs and the Agent or the Borrower Shareholder so requires, the Agent and the Borrower Shareholder shall enter into negotiations (for a period of not more than thirty (30) ten days) with a view to agreeing a substitute basis for determining the rate of interest. Any alternative basis agreed pursuant to this Clause 13.2 shall, with be subject to the prior consent of all the Lenders and the Borrower, be binding on all PartiesShareholder.
Appears in 2 contracts
Samples: Facility Agreement (Pangaea Logistics Solutions Ltd.), Facility Agreement (Quartet Holdco Ltd.)
Alternative basis of interest or funding. 11.3.1 If a Market Disruption Event occurs and the Agent or the Borrower so requires, the Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. .
11.3.2 Any alternative basis agreed pursuant to this Clause 13.2 sub-clause 11.3.1 above shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 2 contracts
Samples: Facility Agreement (Avolon Holdings LTD), Facility Agreement (Avolon Holdings LTD)
Alternative basis of interest or funding. If a Market Disruption Event occurs and the Agent or the Borrower Borrowers so requiresrequire, the Agent and the Borrower Borrowers shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. Any alternative basis agreed pursuant to this Clause 13.2 10.2 shall, with the prior consent of all the Lenders and the BorrowerBorrowers, be binding on all Parties.
Appears in 2 contracts
Samples: Loan Agreement (B Plus H Ocean Carriers LTD), Credit Agreement (B Plus H Ocean Carriers LTD)
Alternative basis of interest or funding. (a) If a Market Disruption Event occurs and the Agent or the Borrower so requires, the Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) 30 days) with a view to agreeing a substitute basis for determining the rate of interest. .
(b) Any alternative basis agreed pursuant to this Clause 13.2 10.3(a) shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 1 contract
Alternative basis of interest or funding. 19.5.1 If a Market Disruption Event occurs and the Agent or the Borrower so requires, the Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. .
19.5.2 Any alternative basis agreed pursuant to this sub-Clause 13.2 19.5.1 above shall, with the prior consent of all the Lenders and the Borrower, be binding on all Partiesparties hereto.
Appears in 1 contract
Samples: Standby Letter of Credit Facility (HCC Insurance Holdings Inc/De/)
Alternative basis of interest or funding. 10.3.1 If a Market Disruption Event occurs and the Agent or the Borrower Borrowers so requiresrequire, the Agent and the Borrower Borrowers shall enter into negotiations (for a period of not more than thirty (30) 30 days) with a view to agreeing a substitute basis for determining the rate of interest. .
10.3.2 Any alternative basis agreed pursuant to this Clause 13.2 clause 10.3.1 above shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 1 contract
Alternative basis of interest or funding. 10.3.1 If a Market Disruption Event occurs and the Agent or the Borrower Borrowers so requiresrequire, the Agent and the Borrower Borrowers shall enter into negotiations (for a period of not more than thirty (30) fifteen days) with a view to agreeing a substitute basis for determining the rate of interest. .
10.3.2 Any alternative basis agreed pursuant to this Clause 13.2 10.3.1 shall, with the prior consent of all the Lenders and the BorrowerBorrowers, be binding on all Parties.
Appears in 1 contract
Samples: Secured Loan Agreement (Genco Shipping & Trading LTD)
Alternative basis of interest or funding. 12.3.1 If a Market Disruption Event occurs and the Agent or the Borrower Company so requires, the Agent and the Borrower Company shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. .
12.3.2 Any alternative basis agreed pursuant to this Clause 13.2 12.3.1 shall, with the prior consent of all the Lenders and the BorrowerCompany, be binding on all Parties.
Appears in 1 contract
Samples: Secured Revolving Loan and Letter of Credit Facility Agreement (Endeavour International Corp)
Alternative basis of interest or funding. 20.5.1 If a Market Disruption Event occurs and the Agent or the Borrower so requires, the Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. .
20.5.2 Any alternative basis agreed pursuant to this Clause 13.2 sub-clause 20.5.1 above shall, with the prior consent of all the Lenders and the Borrower, be binding on all Partiesparties hereto.
Appears in 1 contract
Samples: Standby Letter of Credit Facility (HCC Insurance Holdings Inc/De/)
Alternative basis of interest or funding. 10.3.1 If a Market Disruption Event occurs and the Agent or the Borrower Borrowers so requiresrequire, the Agent and the Borrower Borrowers shall enter into negotiations (for a period of not more than thirty (30) 30 days) with a view to agreeing a substitute basis for determining the rate of interest. .
10.3.2 Any alternative basis agreed pursuant to this Clause 13.2 clause 10.3.1 above shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 1 contract
Alternative basis of interest or funding. 10.3.1 If a Market Disruption Event occurs and the Agent or the Borrower so requires, the Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) 30 days) with a view to agreeing a substitute basis for determining the rate of interest. .
10.3.2 Any alternative basis agreed pursuant to this Clause 13.2 clause 10.3.1 above shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 1 contract
Alternative basis of interest or funding. 19.5.1 If a Market Disruption Event occurs and the Agent or the Borrower so requires, the Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. .
19.5.2 Any alternative basis agreed pursuant to this Clause 13.2 sub-clause 19.5.1 above shall, with the prior consent of all the Lenders and the Borrower, be binding on all Partiesparties hereto.
Appears in 1 contract
Samples: $90,000,000 Standby Letter of Credit Facility (HCC Insurance Holdings Inc/De/)
Alternative basis of interest or funding. (a) If a Market Disruption Event occurs and the Agent or the Borrower so requires, the Agent and the Borrower Obligors’ Agent shall enter into negotiations (for a period of not more than thirty (30) 30 days) with a view to agreeing a substitute basis for determining the rate of interest. .
(b) Any alternative basis agreed pursuant to this Clause 13.2 clause 12.3(a) above shall, with the prior consent of all the Lenders and the BorrowerObligors’ Agent, be binding on all Parties.
Appears in 1 contract
Alternative basis of interest or funding. 10.3.1 If a Market Disruption Event occurs and the Agent or the Borrower so requires, the Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. .
10.3.2 Any alternative basis agreed pursuant to this Clause 13.2 sub-clause 10.3.1 above shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 1 contract
Samples: Term and Revolving Facilities Agreement (Cellcom Israel Ltd.)
Alternative basis of interest or funding. If a Market Disruption Event occurs and the Agent or the Borrower Borrowers so requiresrequire, the Agent and the Borrower Borrowers shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. Any alternative basis agreed pursuant to this Clause 13.2 shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 1 contract
Samples: Secured Term Loan Facility Agreement
Alternative basis of interest or funding. 10.3.1 If a Market Disruption Event occurs and the Facility Agent or the Borrower so requires, the Facility Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. .
10.3.2 Any alternative basis agreed pursuant to this Clause 13.2 clause 10.3.1 shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 1 contract
Alternative basis of interest or funding. If a Market Disruption Event occurs and the Agent or the Borrower so requires, the Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interestinterest for the relevant Loan. Any alternative basis agreed pursuant to this Clause 13.2 12.2 shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 1 contract
Alternative basis of interest or funding. 10.3.4 If a Market Disruption Event occurs and the Agent or the Borrower Borrowers so requiresrequire, the Agent and the Borrower Borrowers shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. .
10.3.5 Any alternative basis agreed pursuant to this Clause 13.2 10.3.1 shall, with the prior consent of all the Lenders and the BorrowerBorrowers, be binding on all Parties.
Appears in 1 contract
Alternative basis of interest or funding. If a Market Disruption Event occurs and the Agent or the Borrower so requiresrequire, the Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. Any alternative basis agreed pursuant to this Clause 13.2 10.2 shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 1 contract
Samples: Term Loan Facility Agreement (B Plus H Ocean Carriers LTD)
Alternative basis of interest or funding. 4.6.1 If a Market Disruption Event occurs and the Facility Agent or the a Borrower so requires, the Facility Agent and the such Borrower shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. .
4.6.2 Any alternative basis agreed pursuant to this Clause 13.2 4.6.1 shall, with the prior consent of all the Lenders and the each Borrower, be binding on all Parties.
Appears in 1 contract
Samples: Amendment and Restatement Agreement (Fly Leasing LTD)
Alternative basis of interest or funding. a) If a Market Disruption Event occurs and the Agent or the Borrower Borrowers so requires, the Agent and the Borrower Borrowers shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. .
b) Any alternative basis agreed pursuant to this Clause 13.2 10.2 shall, with the prior consent of all the Lenders and the BorrowerBorrowers, be binding on all Parties.
Appears in 1 contract
Samples: Term Loan Facility (Flex LNG Ltd.)
Alternative basis of interest or funding. 12.3.1 If a Market Disruption Event occurs and the Agent or the Borrower so requires, the Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. .
12.3.2 Any alternative basis agreed pursuant to this Clause 13.2 sub-clause 12.3.1 above shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 1 contract
Alternative basis of interest or funding. If a Market Disruption Event occurs and the Agent or the Borrower so requires, the Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. Any alternative basis agreed pursuant to this Clause 13.2 11.2 shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 1 contract
Samples: Term Loan and Revolving Credit Facilities Agreement (Seadrill Partners LLC)
Alternative basis of interest or funding. If a Market Disruption Event occurs and the Agent or the Borrower so requires, the Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. Any alternative basis agreed pursuant to this Clause 13.2 10.2 shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 1 contract
Samples: Term Loan Agreement (Helix Energy Solutions Group Inc)
Alternative basis of interest or funding. 12.3.1 If a Market Disruption Event occurs and the Agent or the Borrower Parent so requires, the Agent and the Borrower Obligors’ Agent shall enter into negotiations (for a period of not more than thirty (30) 30 days) with a view to agreeing a substitute basis for determining the rate of interest. .
12.3.2 Any alternative basis agreed pursuant to this Clause 13.2 12.3.1 above shall, with the prior consent of all the Lenders and the BorrowerObligors’ Agent, be binding on all Parties.
Appears in 1 contract
Samples: Revolving Credit Facility Agreement (Enstar Group LTD)
