Common use of Alternative Basis Clause in Contracts

Alternative Basis. If a notification under Clause 12.2 (Market disruption) applies to a Loan which is outstanding, then, for the purpose of calculating the rate of interest on that Loan pursuant to Clause 8.1 (Interest rate): (a) within five Business Days of receipt of the notification, the Borrower and the Agent shall enter into negotiations for a period of not more than 30 days with a view to agreeing an alternative basis for determining the rate of interest and/or funding applicable to that Loan and/or any other Loans; (b) any alternative basis agreed under paragraph (a) above, or certified under paragraph (c) below, shall be, with the prior consent of all the Banks, binding on all the Parties and treated as part of this Agreement; (c) if no alternative basis is agreed, each Bank shall (through the Agent) certify on or before the last day of the Term to which the notification relates an alternative basis for maintaining its participation in that Loan; and (d) any such alternative basis may include an alternative method of fixing the interest rate, alternative Terms or alternative currencies but it must reflect the cost to the Bank of funding its participation in the Loan from whatever sources it may select plus the Margin plus any applicable Mandatory Cost.

Alternative Basis. If a notification under Clause 12.2 (Market disruption) applies to a the Loan which when it is outstanding, then, for the purpose of calculating the rate of interest on that the Loan pursuant to Clause 8.1 9.1 (Interest rate): (a) within five Business Days of receipt of the notification, the Borrower and the Agent shall enter into negotiations for a period of not more than 30 days with a view to agreeing an alternative basis for determining the rate of interest and/or funding applicable to that Loan and/or any other Loansthe Loan; (b) any alternative basis agreed under paragraph (a) above, or certified under paragraph (c) below, shall be, with the prior consent of all the Banks, binding on all the Parties and treated as part of this Agreement; (c) if no alternative basis is agreed, each Bank shall (through the Agent) certify on or before the last day of the Term Interest Period to which the notification relates an alternative basis for maintaining its participation in that the Loan; and (d) any such alternative basis may include an alternative method of fixing the interest rate, alternative Terms Interest Periods or alternative currencies but it must reflect the cost to the Bank of funding its participation in the Loan from whatever sources it may select plus the Margin plus any applicable Mandatory Cost.

Alternative Basis. If a notification under Clause 12.2 (Market disruption) applies to a Loan Tranche which is outstanding, then, for the purpose of calculating the rate of interest on that Loan Tranche pursuant to Clause 8.1 9.1 (Interest rate): (a) within five Business Days of receipt of the notification, the Borrower and the Agent shall enter into negotiations for a period of not more than 30 days with a view to agreeing an alternative basis for determining the rate of interest and/or funding applicable to that Loan Tranche and/or any other LoansTranches; (b) any alternative basis agreed under paragraph (a) above, or certified under paragraph (c) below, shall be, with the prior consent of all the Banks, binding on all the Parties and treated as part of this Agreement; (c) if no alternative basis is agreed, each Bank shall (through the Agent) certify on or before the last day of the Term Interest Period to which the notification relates an alternative basis for maintaining its participation in that LoanTranche; and (d) any such alternative basis may include an alternative method of fixing the interest rate, alternative Terms Interest Periods or alternative currencies but it must reflect the cost to the Bank of funding its participation in the Loan Tranche from whatever sources it may select plus the Margin plus any applicable Mandatory Cost.

Alternative Basis. If a notification under Clause 12.2 (Market disruption) applies to a Loan which is outstanding, then, for the purpose of calculating the rate of interest on that Loan pursuant to Clause 8.1 9.1 (Interest rate): (a) within five Business Days of receipt of the notification, the Borrower Borrowers' Agent and the Facility Agent shall enter into negotiations for a period of not more than 30 days with a view to agreeing an alternative basis for determining the rate of interest and/or funding applicable to that Loan and/or any other Loans; (b) any alternative basis agreed under paragraph (a) above, or certified under paragraph (c) below, above shall be, with the prior consent of all the Banks, binding on all the Parties and treated as part of this AgreementParties; (c) if no alternative basis is agreed, each Bank shall (through the Facility Agent) certify on or before the last day of the Term Interest Period to which the notification relates an alternative basis for maintaining its participation in that Loan; and; (d) any such alternative basis may include an alternative method of fixing the interest rate, alternative Terms Interest Periods or alternative currencies but it must reflect the cost to the Bank of funding its participation in the Loan from whatever sources it may select plus the Margin plus any applicable Mandatory Cost; and (e) each alternative basis so certified shall be binding on the Obligors and the certifying Bank and treated as part of this Agreement.

Alternative Basis. If a notification under Clause 12.2 12.1 (Market disruption) applies to a Loan which is outstanding, then, for the purpose of calculating the rate of interest on that Loan pursuant to Clause 8.1 9.1 (Interest rate): (a) within five Business Days of receipt of the notification, the Borrower and the Agent Bank shall enter into negotiations for a period of not more than 30 days with a view to agreeing an alternative basis for determining the rate of interest and/or funding applicable to that Loan and/or any other Loans; (b) any alternative basis agreed under paragraph (a) above, or certified under paragraph (c) below, shall be, with the prior consent of all the Banks, be binding on all the Parties and treated as part of this AgreementParties; (c) if no alternative basis is agreed, each the Bank shall (through the Agent) certify on or before the last day of the Term Interest Period to which the notification relates an alternative basis for maintaining its participation in that Loan; and (d) any such alternative basis may include an alternative method of fixing the interest rate, alternative Terms Interest Periods or alternative currencies but it must reflect the cost to the Bank of funding its participation in the Loan from whatever sources it may select plus the Margin plus any applicable Mandatory Cost.