Alternative basis of interest or funding. (a) If a Market Disruption Event occurs and the COFACE Agent or the Borrower so requires, the COFACE 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 paragraph (a) above shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 3 contracts
Samples: Coface Facility Agreement (Globalstar, Inc.), Coface Facility Agreement (Globalstar, Inc.), Facility Agreement (Globalstar, Inc.)
Alternative basis of interest or funding. (a) If a Market Disruption Event occurs and the COFACE Agent or the Borrower so requires, the COFACE 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 paragraph (a) above shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 2 contracts
Samples: Loan Agreement (Iridium Communications Inc.), Facility Agreement (Iridium Communications Inc.)
Alternative basis of interest or funding. (a) If a Market Disruption Event occurs and the COFACE Facility Agent or the Borrower Co-ordinator so requires, the COFACE Facility Agent and the Borrower Co-ordinator 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 paragraph (a) above shall, with the prior consent of all the Lenders and the BorrowerCo-ordinator, be binding on all PartiesParties to this Agreement.
Appears in 2 contracts
Samples: Fleet Financing Facility Agreement (Avis Budget Group, Inc.), Avis Europe Interim Fleet Financing Facility Agreement (Avis Budget Group, Inc.)
Alternative basis of interest or funding. (ai) If a Market Disruption Event occurs and the COFACE Agent or the Borrower so requires, the COFACE 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.
(bj) Any alternative basis agreed pursuant to paragraph (a) 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. (a) If a Market Disruption Event occurs and the COFACE Agent or the relevant Borrower so requires, the COFACE Agent and the that 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 paragraph (a) above shall, with the prior consent of all the Lenders and the relevant Borrower, be binding on all Parties.
Appears in 1 contract
Samples: Revolving Facility Agreement (Alpha Beta Netherlands Holding N.V.)
Alternative basis of interest or funding. (a) 4.7.1 If a Market Disruption Event occurs and the COFACE Facility Agent or the Borrower so requires, the COFACE 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.
(b) 4.7.2 Any alternative basis agreed pursuant to paragraph (a) Section 4.7.1 above shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 1 contract
Samples: Facility Agreement (Atlas Air Worldwide Holdings Inc)
