Common use of ALTERNATIVE INTEREST RATE ARRANGEMENTS Clause in Contracts

ALTERNATIVE INTEREST RATE ARRANGEMENTS. If the Agent gives a notice of market disruption, the following applies: (i) The means of determining the rates of interest applicable under this Agreement will be suspended. Instead the Borrower agrees to pay interest to the Lenders in the manner requested by the Agent. A request by the Agent may specify periods to be used for the computation of interest. It must also specify the rate of interest to apply for a period. This rate will be the rate determined by the Agent to reflect the cost to each Lender of funding for the period plus the applicable Margin. In order to assist the Agent in this determination each Lender agrees to provide to the Agent any information which the Agent may reasonably request. If this information is received by the Agent within any time period specified by the Agent it will be taken into account by the Agent in making its determination. (ii) The Borrower and the Agent will negotiate the terms of an alternative arrangement for determining a rate of interest. The negotiations will be carried on in good faith. Neither party is bound to continue the negotiations after the date 30 days after the Borrower receives the Agent's notice. If agreement is reached and if it is approved by an Instructing Group, the rate of interest will be determined in accordance with the agreement. Sub-paragraph (i) will not apply to the extent that it is expressly excluded by such agreement. (iii) If the circumstances described in paragraph (a) cease to apply, the Agent will notify the Borrower and the Lenders. The Borrower agrees to pay interest to the Lenders in the manner described in sub-paragraph (i) or (ii) for the remainder of the period for which an alternative interest rate arrangement has been made in respect of each affected Advance unless

ALTERNATIVE INTEREST RATE ARRANGEMENTS. If the Agent gives delivers a notice of market disruption, disruption each of the following applies: (i) The means of determining the rates of interest applicable under this Agreement to the Advance or Advances affected (the "Affected Advance") will be suspended. Instead the Borrower agrees to pay interest to the Lenders on the Affected Advance in the manner requested by the Agent. A request by the Agent may specify periods to be used for the computation of interest. It must also specify the rate of interest to apply for a period. This rate will be the rate determined by the Agent to reflect the cost to each Lender of funding the Affected Advance for the period plus the applicable Applicable Margin. In order to assist the Agent in this determination each Lender agrees to provide to the Agent any information which the Agent may reasonably request. If this information is received by the Agent within any time period specified by the Agent it will be taken into account by the Agent in making its determination. (ii) The Borrower and the Agent will negotiate the terms of an alternative arrangement for determining a rate of interestinterest for the Affected Advance. The negotiations will be carried on in good faith. Neither party is bound to continue the negotiations after the date 30 days after the Borrower receives the Agent's notice. If agreement is reached and if it is approved by an Instructing Group, all the Lenders the rate of interest will be determined in accordance with the agreement. Sub-paragraph (i) will not apply to the extent that it is expressly excluded by such this agreement. (iii) If the circumstances described in paragraph (aA) cease to apply, apply the Agent will notify the Borrower and the Lenders. The notice will specify the transitional arrangements proposed by the Agent which as far as possible will be in accordance with the normal interest rate fixing provisions of this Agreement. The Borrower agrees to pay interest on the Affected Advance to the Lenders in the manner described in this notice unless a different arrangement is agreed by the Agent and the Borrower and approved by all the Lenders. In this case the Borrower agrees to pay interest to the Lenders in the manner described in sub-paragraph (i) or (ii) for the remainder of the period for which an alternative interest rate arrangement has been made in respect of each affected Advance unlessagreed.

ALTERNATIVE INTEREST RATE ARRANGEMENTS. If the Agent gives delivers a notice of market disruption, disruption each of the following applies: (i) The means of determining the rates of interest applicable under this Agreement to the Facility will be suspended. Instead the Borrower agrees to pay interest to the Lenders in the manner requested by the Agent. A request by the Agent may specify periods to be used for the computation of interest. It must also specify the rate of interest to apply for a period. This rate will be the rate determined by the Agent to reflect the cost to each Lender of funding for the period plus the applicable Margin. In order to assist the Agent in this determination each Lender agrees to provide to the Agent any information which the Agent may reasonably request. If this information is received by the Agent within any time period specified by the Agent it will be taken into account by the Agent in making its determination. (ii) The Borrower and the Agent will negotiate the terms of an alternative arrangement for determining a rate of interestinterest for the Facility. The negotiations will be carried on in good faith. Neither party is bound to continue the negotiations after the date 30 days after the Borrower receives the Agent's notice. If agreement is reached and if it is approved by an Instructing Group, all the Lenders the rate of interest will be determined in accordance with the agreement. Sub-paragraph (i) will not apply to the extent that it is expressly excluded by such this agreement. (iii) If the circumstances described in paragraph (aA) cease to apply, apply the Agent will notify the Borrower and the Lenders. The notice will specify the transitional arrangements proposed by the Agent. The Borrower agrees to pay interest to the Lenders in the manner described in sub-paragraph (i) or (ii) for this notice unless a different arrangement is agreed by the remainder of Agent and the period for which an alternative Borrower and approved by all the Lenders. In this case the Borrower agrees to pay interest rate arrangement has been made to the Lenders in respect of each affected Advance unlessthe manner agreed.

ALTERNATIVE INTEREST RATE ARRANGEMENTS. If the Agent gives delivers a notice of market disruption, disruption each of the following applies: (i) The Borrowers' Agent may notify the Agent that a proposed Advance should not be made. This notice must be received by the Agent not later than 5.00 p.m. on the Rate Fixing Day applicable to the first day of the first Interest Period of that Advance. In this case: (a) that Advance will not be made; and (b) the Parent agrees to reimburse those Lenders which have arranged funding for that proposed Advance in accordance with Clause 6.6. (ii) The means of determining the rates of interest applicable under this Agreement to the Facility will be suspended. Instead the Borrower agrees Borrowers agree to pay interest to the Lenders in the manner requested by the Agent. A request by the Agent may specify periods to be used for the computation of interest. It must also specify the rate of interest to apply for a period. This rate will be the rate determined by the Agent to reflect the cost to each Lender of funding for the period plus the applicable MarginMargin plus the Costs Rate. In order to assist the Agent in this determination each Lender agrees to provide to the Agent any information which the Agent may reasonably request. If this information is received by the Agent within any time period specified by the Agent it will be taken into account by the Agent in making its determination. (iiiii) The Borrower Borrowers and the Agent will negotiate the terms of an alternative arrangement for determining a rate of interestinterest for the Facility. The negotiations will be carried on in good faith. Neither party is bound to continue the negotiations after the date 30 days after the Borrower Borrowers' Agent receives the Agent's notice. If agreement Agreement is reached and if it is approved by an Instructing Group, all the Lenders the rate of interest will be determined in accordance with the agreementAgreement. Sub-paragraph (i) will not apply to the extent that it is expressly excluded by such agreementthis Agreement. (iiiiv) If the circumstances described in paragraph (aA) cease to apply, apply the Agent will notify the Borrower Borrowers' Agent and the Lenders. The Borrower agrees notice will specify the transitional arrangements proposed by the Agent. The Borrowers agree to pay interest to the Lenders in the manner described in sub-paragraph (i) or (ii) for this notice unless a different arrangement is agreed by the remainder of Agent and the period for which an alternative Borrowers' Agent and approved by all the Lenders. In this case the Borrowers agree to pay interest rate arrangement has been made to the Lenders in respect of each affected Advance unlessthe manner agreed.

ALTERNATIVE INTEREST RATE ARRANGEMENTS. If the Agent gives delivers a notice of market disruption, disruption each of the following applies: (i) The means of determining the rates of interest applicable under this Agreement to the Facility will be suspended. Instead the Borrower agrees to pay interest to the Lenders in the manner requested by the Agent. A request by the Agent may specify periods to be used for the computation of interest. It must also specify the rate of interest to apply for a period. This rate will be the rate determined by the Agent to reflect the cost to each Lender of funding (not including amounts reflected in the Costs Rate) for the period plus the applicable MarginMargin plus the Costs Rate. In order to assist the Agent in this determination each Lender agrees to provide to the Agent any information which the Agent may reasonably request. If this information is received by the Agent within any time period specified by the Agent it will be taken into account by the Agent in making its determination. (ii) The Borrower and the Agent will negotiate the terms of an alternative arrangement for determining a rate of interestinterest for the Facility. The negotiations will be carried on in good faith. Neither party is bound to continue the negotiations after the date 30 days after the Borrower receives the Agent's notice. If agreement is reached and if it is approved by an Instructing Group, all the Lenders the rate of interest will be determined in accordance with the agreement. Sub-paragraph (i) will not apply to the extent that it is expressly excluded by such this agreement. (iii) If the circumstances described in paragraph (aA) cease to apply, apply the Agent will notify the Borrower and the Lenders. The notice will specify the transitional arrangements proposed by the Agent. The Borrower agrees to pay interest to the Lenders in accordance with sub-paragraph (i) in respect of the transitional period unless a different arrangement is agreed by the Agent and the Borrower and approved by all the Lenders. In this case the Borrower agrees to pay interest to the Lenders in the manner described in sub-paragraph (i) or (ii) for the remainder of the period for which an alternative interest rate arrangement has been made in respect of each affected Advance unlessagreed.

ALTERNATIVE INTEREST RATE ARRANGEMENTS. If the Agent gives delivers a notice of market disruptiondisruption under paragraph (B), each of the following applies: (i) The means of determining the rates of interest applicable under this Agreement to the Facility will be suspended. Instead the Borrower agrees to pay interest to the Lenders in the manner requested by the Agent. A request by the Agent may specify periods to be used for the computation of interest. It must also specify the rate of interest to apply for a period. This rate will be the rate determined by the Agent (with the prior agreement of the Lenders) to reflect the cost excluding any cost to the extent reflected in the Costs Rate to each Lender of funding for the period plus the applicable MarginCosts Rate. In order to assist the Agent in this determination each Lender agrees to provide to the Agent any information which the Agent may reasonably request. If this information is received by the Agent within any time period reasonably specified by the Agent it will be taken into account by the Agent in making its determination. (ii) The Borrower and the Agent will agree to negotiate the terms of an alternative arrangement for determining a rate of interestinterest for the Facility. The negotiations will be carried on in good faith. Neither party is bound to continue the negotiations after the date 30 days after the Borrower receives the Agent's notice. If agreement is reached between the Borrower and if it is approved by an Instructing Groupthe Agent (with the prior agreement of the Lenders), the rate of interest will be determined in accordance with the agreement. Sub-paragraph Paragraph (i) will not apply to the extent that it is expressly excluded by such agreement. (iii) If all the Lenders do not agree an alternative basis, each Lender (through the Agent) shall certify on or before the last day of the Interest Period to which the notification relates an alternative basis for maintaining its participation in the Advance and such alternative basis may include an alternative method of fixing the interest rate of alternative Interest Periods but it must reflect the cost to the Lender of funding its participation in the Advance from whatever sources it may reasonably select plus the Costs Rate, and each alternative basis so certified shall be binding on the Borrower and the certifying Lender and treated as part of the Agreement. (iv) If the circumstances described in paragraph (aA) cease to apply, the Agent will notify the Borrower and the Lenders. The notice will specify the transitional arrangements proposed by the Agent (with the prior agreement of the Lenders), in order for the means of determining the rates of interest applicable to the Facility to return to the means by which interest rates are normally calculated under this Agreement. The Borrower agrees to pay interest to the Lenders in the manner described in sub-paragraph (i) or (ii) for the remainder of the period for which an alternative interest rate arrangement has been made in respect of each affected Advance unlessthis notice

ALTERNATIVE INTEREST RATE ARRANGEMENTS. If the Agent gives delivers a notice of market disruption, disruption each of the following applies: (i) The Borrowers' Agent may notify the Agent that a proposed Advance should not be made. This notice must be received by the Agent not later than 5.00 p.m. on the Rate Fixing Day applicable to the first day of the first Interest Period of that Advance. In this case: 37 34 (a) that Advance will not be made; and (b) the Parent agrees to reimburse those Lenders which have arranged funding for that proposed Advance in accordance with Clause 6.6. (ii) The means of determining the rates of interest applicable under this Agreement to the Facilities will be suspended. Instead the Borrower agrees Borrowers agree to pay interest to the Lenders in the manner requested by the Agent. A request by the Agent may specify periods to be used for the computation of interest. It must also specify the rate of interest to apply for a period. This rate will be the rate determined by the Agent to reflect the cost to each Lender of funding for the period plus the applicable MarginMargin plus the Costs Rate. In order to assist the Agent in this determination each Lender agrees to provide to the Agent any information which the Agent may reasonably request. If this information is received by the Agent within any time period specified by the Agent it will be taken into account by the Agent in making its determination. (iiiii) The Borrower Borrowers and the Agent will negotiate the terms of an alternative arrangement for determining a rate of interestinterest for the Facility. The negotiations will be carried on in good faith. Neither party is bound to continue the negotiations after the date 30 days after the Borrower Borrowers' Agent receives the Agent's notice. If agreement Agreement is reached and if it is approved by an Instructing Group, all the Lenders the rate of interest will be determined in accordance with the agreementAgreement. Sub-paragraph (i) will not apply to the extent that it is expressly excluded by such agreementthis Agreement. (iiiiv) If the circumstances described in paragraph (aA) cease to apply, apply the Agent will notify the Borrower Borrowers' Agent and the Lenders. The Borrower agrees notice will specify the transitional arrangements proposed by the Agent. The Borrowers agree to pay interest to the Lenders in the manner described in sub-paragraph (i) or (ii) for this notice unless a different arrangement is agreed by the remainder of Agent and the period for which an alternative Borrowers' Agent and approved by all the Lenders. In this case the Borrowers agree to pay interest rate arrangement has been made to the Lenders in respect of each affected Advance unlessthe manner agreed.

ALTERNATIVE INTEREST RATE ARRANGEMENTS. If the Agent gives a notice of market disruption, the following applies: (i) The Advance will be made and shall have a term of one month. (ii) The means of determining the rates of interest applicable under this Agreement will be suspended. Instead the Borrower agrees to pay interest to the Lenders in the manner requested by the Agent. A request by the Agent may specify periods to be used for the computation of interest. It must also specify the rate of interest to apply for a periodperiod of one month. This rate will be the rate determined by the Agent to reflect the cost to each Lender of funding for the period plus the applicable Margin. In order to assist the Agent in this determination each Lender agrees to provide to the Agent any information which the Agent may reasonably request. If this information is received by the Agent within any time period specified by the Agent it will be taken into account by the Agent in making its determination. (iiiii) The Borrower and the Agent will negotiate the terms of an alternative arrangement for determining a rate of interest. The negotiations will be carried on in good faith. Neither party is bound to continue the negotiations after the date 30 days after the Borrower receives the Agent's notice. If agreement is reached and if it is approved by an Instructing Group, the rate of interest will be determined in accordance with the such agreement. Sub-paragraph (iii) will not apply to the extent that it is expressly excluded by such agreement. (iiiiv) If the circumstances described in paragraph (a) cease to apply, the Agent will notify the Borrower and the Lenders. The Borrower agrees to pay interest to the Lenders in the manner described in sub-paragraph (iii) or (iiiii) for the remainder of the period for which an alternative interest rate arrangement has been made in respect of each affected Advance unlessunless a different arrangement is agreed by the Agent and the Borrower and approved by an Instructing Group. In this case the Borrower agrees to pay interest to the Lenders in the manner agreed.

ALTERNATIVE INTEREST RATE ARRANGEMENTS. If the Agent gives delivers a notice of market disruption, disruption each of the following applies: (i) The means of determining the rates rate of interest applicable under this Agreement to the affected Advance will be suspended. Instead the Borrower agrees to pay interest to the Lenders in respect of the affected Advance in the manner requested by the AgentAgent in accordance with this clause. A request by the Agent may specify periods to be used for the computation of interestinterest which periods will, in aggregate, equal the Interest Period for the affected Advance. It must also specify the rate of interest to apply for a period. This rate will be the rate determined by the Agent to reflect the cost to each Lender of funding for the period plus the applicable MarginApplicable Margin plus the Costs Rate. In order to assist the Agent in this determination each Lender agrees to provide to the Agent any information which the Agent may reasonably request. If this information is received by the Agent within any time period specified by the Agent it will be taken into account by the Agent in making its determination. (ii) The Borrower and the Agent will negotiate the terms of an alternative arrangement for determining a the rate of interestinterest for the affected Advance. The negotiations will be carried on in good faith. Neither party is bound to continue the negotiations after the date 30 days after the Borrower receives the Agent's notice. If agreement is reached and if it is approved by an Instructing Group, all the Lenders the rate of interest in respect of the affected Advance will be determined in accordance with the agreement. Sub-Sub- paragraph (i) will not apply to the extent that it is expressly excluded by such this agreement. (iii) If the circumstances described in paragraph (aA) cease to apply, apply the Agent will notify the Borrower and the Lenders. The notice will specify the transitional arrangements proposed by the Agent which as far as possible will be in accordance with the normal interest rate fixing provisions of this Agreement. The Borrower agrees to pay interest in respect of the affected Advance to the Lenders in the manner described in sub-paragraph (i) or (ii) for this notice unless a different arrangement is agreed by the remainder of Agent and the period for which an alternative Borrower and approved by all the Lenders. In this case the Borrower agrees to pay interest rate arrangement has been made in respect of each the affected Advance unlessto the Lenders in the manner agreed.

ALTERNATIVE INTEREST RATE ARRANGEMENTS. If the Agent gives delivers a notice of market disruption, disruption each of the following applies: (i) The means of determining the rates of interest applicable under this Agreement to the Advance or Advances affected (the "AFFECTED ADVANCE") will be suspended. Instead the Borrower agrees to pay interest to the Lenders on the Affected Advance in the manner requested by the AgentAgent in accordance with this clause. A request by the Agent may specify periods to be used for the computation of interest. It must also specify the rate of interest to apply for a period. This rate will be the rate determined by the Agent to reflect the cost to each Lender of funding the Affected Advance for the period plus the applicable MarginApplicable Margin plus (in the case of Advances in sterling) the Costs Rate. In order to assist the Agent in this determination each Lender agrees to provide to the Agent any information which the Agent may reasonably request. If this information is received by the Agent within any time period specified by the Agent it will be taken into account by the Agent in making its determination. (ii) The Borrower and the Agent will negotiate the terms of an alternative arrangement for determining a rate of interestinterest for the Affected Advance. The negotiations will be carried on in good faith. Neither party is bound to continue the negotiations after the date 30 days after the Borrower receives the Agent's notice. If agreement is reached and if it is approved by an Instructing Group, all the Lenders the rate of interest will be determined in accordance with the agreement. Sub-paragraph (i) will not apply to the extent that it is expressly excluded by such that agreement. (iii) If the circumstances described in paragraph (aA) cease to apply, apply the Agent will notify the Borrower and the Lenders. The notice will specify the transitional arrangements proposed by the Agent which as far as possible will be in accordance with the normal interest rate fixing provisions of this Agreement. The Borrower agrees to pay interest to the Lenders on the Affected Advance in the manner described in this notice unless a different arrangement is agreed by the Agent and the Borrower and approved by all the Lenders. In this case the Borrower agrees to pay interest to the Lenders in the manner described in sub-paragraph (i) or (ii) for the remainder of the period for which an alternative interest rate arrangement has been made in respect of each affected Advance unlessagreed.

ALTERNATIVE INTEREST RATE ARRANGEMENTS. If the Agent gives delivers a notice of market disruptiondisruption under paragraph (B), each of the following applies: (i) The means of determining the rates of interest applicable under this Agreement to the Facilities will be suspended. Instead the each Borrower agrees to pay interest to the Lenders in the manner requested by the Agent. A request by the Agent may specify periods to be used for the computation of interest. It must also specify the rate of interest to apply for a period. This rate will be the rate determined by the Agent (with the prior agreement of the Lenders) to reflect the cost excluding any cost to the extent reflected in the Costs 41 38 Rate to each Lender of funding for the period plus the applicable MarginApplicable Margin plus, if relevant for an Advance, the Costs Rate. In order to assist the Agent in this determination each Lender agrees to provide to the Agent any information which the Agent may reasonably request. If this information is received by the Agent within any time period reasonably specified by the Agent it will be taken into account by the Agent in making its determination. (ii) The Borrower Parent and the Agent will agree to negotiate the terms of an alternative arrangement for determining a rate of interestinterest for the Facilities. The negotiations will be carried on in good faith. Neither party is bound to continue the negotiations after the date 30 days after the Borrower Parent receives the Agent's notice. If agreement is reached between the Parent and if it is approved by an Instructing Groupthe Agent (with the prior agreement of the Lenders), the rate of interest will be determined in accordance with the agreement. Sub-paragraph Paragraph (i) will not apply to the extent that it is expressly excluded by such agreement. (iii) If all the Lenders do not agree an alternative basis, each Lender (through the Agent) shall certify on or before the last day of the Interest Period to which the notification relates an alternative basis for maintaining its participation in that Advance. Any such alternative basis may include an alternative method of fixing the interest rate, alternate Interest Periods or alternative currencies but it must reflect the cost to the Lender of funding its participation in that Advance from whatever sources it may reasonably select plus the Applicable Margin and (if applicable) any Costs Rate and such alternative basis so certified shall be binding on the Obligor and the Certifying Lender and treated as part of this Agreement. (iv) If the circumstances described in paragraph (aA) cease to apply, the Agent will notify the Borrower Parent and the Lenders. The notice will specify the transitional arrangements proposed by the Agent (with the prior agreement of the Lenders), in order for the means of determining the rates of interest applicable to the Facilities to return to the means by which interest rates are normally calculated under this Agreement. Each Borrower agrees to pay interest to the Lenders in the manner described in sub-paragraph (i) or (ii) for this notice unless a different arrangement is agreed by the remainder of Agent and the period for which an alternative Parent and approved by all the Lenders. In this case each Borrower agrees to pay interest rate arrangement has been made to the Lenders in respect of each affected Advance unlessthe manner agreed.