Alternative Interest Rate. Anything herein to the contrary notwithstanding, if, on or prior to the determination of any Eurodollar Rate for any Interest Period or Default Interest Period:
(a) the Administrative Agent reasonably determines (so long as the Administrative Agent is making substantially the same determination with respect to other borrowers (situated similarly to the Company) to which it has made loans), which determination shall be conclusive, that interest rate reported for the relevant deposits referred to in the definition of "Eurodollar Rate" in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or
(b) the Majority Lenders reasonably determine (so long as they are making substantially the same determination with respect to other borrowers (situated similarly to the Company) to which they respectively have made loans), which determination shall be conclusive, and notify the Administrative Agent that the relevant rates of interest referred to in the definition of "Eurodollar Rate" in Section 1.01 hereof upon the basis of which the rate of interest for Loans for such Interest Period or Default Interest Period is to be determined are not likely to adequately cover the cost to such Lenders of making or maintaining Loans for such Interest Period or Default Interest Period; then the Administrative Agent shall give the Company and each Lender prompt notice thereof and:
(i) During the 15-day period next succeeding the date of any such notice (the "Negotiation Period"), the Administrative Agent (in consultation with such Lenders) and the Company will negotiate in good faith for the purpose of agreeing upon an alternative, mutually acceptable basis (the "Substitute Basis") for determining the rate of interest to be applicable to the Loans for such Interest Period or Default Interest Period;
(ii) If at the expiry of the Negotiation Period, the Majority Lenders and the Company have agreed upon a Substitute Basis and the Administrative Agent has received confirmation from its Chilean counsel that such Substitute Basis has received all necessary governmental approvals and consents, the Substitute Basis shall be retroactive to, and take effect from, the beginning of such Interest Period or Default Interest Period;
(iii) If at the expiry of the Negotiation Period, a Substitute Basis shall not have been agreed upon as aforesaid or the Administrative Agent shall n...
Alternative Interest Rate. If at any time the Administrative Agent determines (which determination shall be conclusive absent manifest error) that (i) the circumstances set forth in Section 3.03(a) have arisen and such circumstances are unlikely to be temporary or (ii) the circumstances set forth in Section 3.03(a) have not arisen but the supervisor for the administrator of the LIBOR Rate or a Governmental Authority having jurisdiction over the Administrative Agent has made a public statement identifying a specific date after which the LIBOR Rate shall no longer be used for determining interest rates for loans, then the Administrative Agent and Holdings shall endeavor to establish an alternate rate of interest to the LIBOR Rate (the “Alternate Rate”) that gives due consideration to the then prevailing market convention for determining a rate of interest for syndicated loans in the United States at such time, and shall enter into an amendment to this Agreement to reflect such alternate rate of interest and such other related changes to this Agreement as may be applicable. Notwithstanding anything to the contrary in Section 11.01, such amendment shall become effective without any further action or consent of any other party to this Agreement so long as the Administrative Agent shall not have received, within five Business Days of the date notice of such alternate rate of interest is provided to the Lenders, a written notice from the Required Lenders stating that such Required Lenders object to such amendment. Until an alternate rate of interest shall be determined in accordance with this Section 3.03(b), the obligation of the Lenders to make LIBOR Loans shall be suspended in accordance with Section 3.03(a). Notwithstanding anything in this Section 3.03(b) to the contrary, any amendment providing for the replacement of the LIBOR Rate with an alternative benchmark or reference rate of interest shall provide that in no event shall such benchmark or reference rate be less than zero for purposes of this Agreement.
Alternative Interest Rate. 12 5.04 Prepayment................................................ 13 5.05 Recapture................................................. 13 5.06
Alternative Interest Rate. Anything herein to the contrary notwithstanding, if, on or prior to the determination of any Eurodollar Rate for any Interest Period or Default Interest Period:
(a) the Lender determines, which determination shall be conclusive, that quotations of interest rates for the relevant deposits referred to in the definition of "Eurodollar Rate" in Section 1.01 hereof are not being provided in the relevant amounts or for the relevant maturities for purposes of determining rates of interest for Loans as provided herein; or
(b) the Lender determines, which determination shall be conclusive, that the relevant rates of interest referred to in the definition of "Eurodollar Rate" in Section 1.01 hereof upon the basis of which the rate of interest for Loans for such Interest Period or Default Interest Period is to be determined are not likely to adequately cover the cost to the Lender of making or maintaining Loans for such Interest Period or Default Interest Period; then the Lender shall give the Company prompt notice thereof and:
(a) during the 15-day period next succeeding the date of any such notice (the "Negotiation Period"), the Lender and the Company will negotiate in good faith for the purpose of agreeing upon an alternative, mutually acceptable basis (the "Substitute Basis") for determining the rate of interest to be applicable to the Loans for such Interest Period;
(b) if at the expiry of the Negotiation Period, the Lender and the Company have agreed upon a Substitute Basis and the Lender has received confirmation from its Netherlands counsel that such Substitute Basis has received all necessary governmental approvals and consents, the Substitute Basis shall be retroactive to, and take effect from, the beginning of such Interest Period or Default Interest Period;
(c) if at the expiry of the Negotiation Period, a Substitute Basis shall not have been agreed upon as aforesaid or the Lender shall not have received the above mentioned confirmation as to requisite governmental approvals or consents, within five Business Days thereafter, the Lender shall notify the Company of the cost to the Lender (as determined by it in good faith) of funding and maintaining such Loan for such Interest Period or Default Interest Period; and the interest payable to the Lender on such Loan for such Interest Period shall be interest at a rate per annum equal to the Margin plus the cost to the Lender of funding and maintaining such Loan for such Interest Period or Default Interest Perio...
Alternative Interest Rate. If (a) either of those events mentioned in sub-Clauses 6.1(a) and 6.1(b) of Clause 6.1 (Market Disruption) occurs in relation to an Advance or (b) by reason of circumstances affecting the European interbank market during any period of three (3) consecutive Business Days EURIBOR is not available to prime banks in the European interbank market, then if the Facility Agent or the Borrower so requires, the Facility Agent and the Borrower shall enter into negotiations with a view to agreeing a substitute basis (i) for determining the rates of interest from time to time applicable to such Advances and/or (ii) upon which such Advances may be maintained thereafter and any such substitute basis that is agreed shall take effect in accordance with its terms and be binding on each party hereto, provided that the Facility Agent may not agree any such substitute basis without the prior consent of each Lender.
Alternative Interest Rate. Notwithstanding anything to the contrary herein, (a) after any such determination by the Agent or receipt by the Agent of any such notice described under Section 3.6.1(a) through (c), as applicable, if the Agent determines that none of the LIBOR Successor Rates is available on or prior to the LIBOR Replacement Date, (ii) if the events or circumstances described in Section 3.6.1(d) have occurred but none of the LIBOR Successor Rates is available, or (iii) if the events or circumstances of the type described in Section 3.6.1(a) through (c) have occurred with respect to the LIBOR Successor Rate then in effect and the Agent determines that none of the LIBOR Successor Rates is available, then in each case, the Agent and Loan Party Agent may amend this Agreement solely for the purpose of replacing LIBOR or any then current LIBOR Successor Rate in accordance with this Section at the end of any Interest Period, relevant interest payment date or payment period for interest calculated, as applicable, with another alternate benchmark rate giving due consideration to any evolving or then existing convention for similar U.S. dollar denominated syndicated credit facilities for such alternative benchmarks and, in each case, including any Related Adjustments and any other mathematical or other adjustments to such benchmark giving due consideration to any evolving or then existing convention for similar U.S. dollar denominated syndicated credit facilities for such 86
Alternative Interest Rate. If the Lender shall at any time reasonably ------------------------- determine that for any reason adequate and reasonable means do not exist for the purpose of ascertaining or determining SIBOR for such interest period, the Lender shall negotiate in good faith with a view to agreeing upon a mutually acceptable alternative basis for determining such interest rate. If, within such period as the Lender shall consider to be reasonable, such period being not less than thirty (30) days from the date of the aforesaid notice to the Borrower, the Borrower and the Lender are unable to agree upon such alternative basis for determining such interest rate, then the Lender shall have the right upon giving thirty (30) days' notice to the Borrower to require the Borrower to repay the whole of the Loan as at the expiry of the said notice, with interest thereon at such fair and reasonable rate as shall be certified by the Lender. Where the Lender and the Borrower agree upon a mutually acceptable alternative basis for determining the interest rate from time to time, all references to interest rate and SIBOR in this Agreement shall be deemed to be a reference to the interest rate so determined on such alternative basis.
Alternative Interest Rate. If either (a) the applicable Screen Rate is not available for any Interest Period and no rates are quoted to the Agent to determine LIBOR for that Interest Period or (b) a Lender or Lenders inform the Agent by written notice that the cost to it or them of obtaining matching deposits from whatever source it or they may reasonably select for any Interest Period would be in excess of LIBOR and that notice is received by the Agent no later than close of business in London on the day LIBOR is determined for that Interest Period:
7.8.1 the Agent shall give notice to the Lenders and the Borrowers of the occurrence of such event; and
7.8.2 the rate of interest on the relevant Lender's Commitment for that Interest Period shall be the rate per annum which is the sum of:
(a) the Margin; and
(b) the rate notified to the Agent by that Lender as soon as practicable, and in any event before interest is due to be paid in respect of that Interest Period, to be that which expresses as a percentage rate per annum the cost to that Lender of funding its Commitment from whatever source it may reasonably select.
Alternative Interest Rate. If, with respect to any Interest Period for any Floating Rate Loan or with respect to any Default Interest Period, KfW determines in its reasonable judgment that quotations of interest rates of the types referred to in clause (a) in the definition of "Applicable Base Rate" are not being provided in the relevant amounts or for the relevant maturity for purposes of determining the "Applicable Base Rate" for such Interest Period or Default Interest Period, KfW shall promptly give notice thereof to the Borrower, and the following provisions shall apply:
Alternative Interest Rate. Except as otherwise provided in this Agreement, if the Bank shall reasonably determine that adequate and reasonable methods do not exist for ascertaining LIBOR on any Rate-fixing Day, the Bank will so notify the Borrower as soon as practicable on such day, which notice shall be conclusive and binding, and then (a) the Interest Period for the Advance shall be three (3) months (the "Alternative Interest Period") and (b) the Bank shall calculate interest on the principal amount of the Advance by substituting for LIBOR the rate per annum determined by the Bank to be that which fairly expresses as a percentage per annum the cost to the Bank of funding such principal amount, from whatever source the bank may select in good faith, during such Alternative Interest Period, as certified by the Bank to the Borrower.
