Common use of Availability, Changed Circumstances Etc Clause in Contracts

Availability, Changed Circumstances Etc. (1) The availability of B/As (including by way of conversions or renewals) is at any time subject (i) to funds being available for such purpose in the Canadian money market and the B/A Discount Rate being available, and (ii) to the Agent not having been notified by a Lender or Lenders with a Commitment or Commitments representing in the aggregate more than 50% of all Commitments that the B/A Discount Rate is less than their effective funding cost for B/As issued by the Borrower to be sold on the Canadian money market. The Agent will notify the Borrower if B/As cease to be so available, either generally in the case of clause (i) or with the particular Lenders to which clause (ii) applies, as well as when availability resumes. For so long as B/As are not available with any particular Lender by reason of the foregoing, Advances with such Lender that otherwise would have been made by way of B/As will be made by way of Prime Rate Advances. (2) If the Agent is advised of a determination by: (a) a Lender that it is unable to obtain US Dollars in the London inter-bank market, (b) a Lender that any Applicable Law has made it unlawful or prohibits such Lender from making or maintaining LIBOR Advances, or has imposed costs or constraints on such Lender that do not exist on the date hereof in respect of LIBOR Advances, or (c) a Lender or Lenders with a Commitment or Commitments representing in the aggregate more than 50% of all Commitments that the LIBO Rate is less than such Lender or Lenders effective funding cost for making or maintaining LIBOR Advances, the Agent will so notify the Borrower and no new LIBOR Advances, no conversion into LIBOR Advances and no renewal of LIBOR Advances may be made with such Lender or Lenders from the date of the notice until the cause of such determination has ceased to exist. In any such case, Advances with such Lender or Lenders that otherwise would have been made by way of LIBOR Advances in the applicable currency will be made by way of Base Rate Advances.

Availability, Changed Circumstances Etc. (1) The availability of B/As (including by way of conversions or renewals) is at any time subject (i) to funds being available for such purpose in the Canadian money market and the B/A Discount Rate being available, and (ii) to the Agent not having been notified by a Lender or Lenders with a Commitment or Commitments representing in the aggregate more than 50% of all Commitments that the B/A Discount Rate is less than their effective funding cost for B/As issued by the Borrower to be sold on the Canadian money market. The Agent will notify the Borrower if B/As cease to be so available, either generally in the case of clause (i) or with the particular Lenders to which clause (ii) applies, as well as when availability resumes. For so long as B/As are not available with any particular Lender by reason of the foregoing, Advances with such Lender that otherwise would have been made by way of B/As will be made by way of Prime Rate Advances. (2) If the Agent is advised of a determination by: (a) a Lender that it is unable to obtain US Dollars in the London inter-bank market, (b) a Lender that any Applicable Law has made it unlawful or prohibits such Lender from making or maintaining LIBOR Advances, or has imposed costs or constraints on such Lender that do not exist on the date hereof in respect of LIBOR Advances, or (c) a Lender or Lenders with a Commitment or Commitments representing in the aggregate more than 50% of all Commitments that the LIBO Rate is less than such Lender or Lenders effective funding cost for making or maintaining LIBOR Advances, the Agent will so notify the Borrower and no new LIBOR Advances, no conversion into LIBOR Advances and no renewal of LIBOR Advances may be made with such Lender or Lenders from the date of the notice until the cause of such determination has ceased to exist. In any such case, Advances with such Lender or Lenders that otherwise would have been made by way of LIBOR Advances in the applicable currency will be made by way of Base Rate Advances. (3) Effect of Benchmark Transition Event

Availability, Changed Circumstances Etc. (1) The availability of B/As (including by way of conversions or renewals) is at any time subject (i) to funds being available for such purpose in the Canadian money market and the B/A Discount Rate being available, and (ii) to the Agent not having been notified by a Lender or Lenders with a Commitment or Commitments representing in the aggregate more than 50% of all Commitments that the B/A Discount Rate is less than their effective funding cost for B/As issued by the Borrower to be sold on the Canadian money market. The Agent will notify the Borrower if B/As cease to be so available, either generally in the case of clause (i) or with the particular Lenders to which clause (ii) applies, as well as when availability resumes. For so long as B/As are not available with any particular Lender by reason of the foregoing, Advances with such Lender that otherwise would have been made by way of B/As will be made by way of Prime Rate Advances. (2) If the Agent is advised of a determination by: (a) a Lender that it is unable to obtain US Dollars in the London inter-bank market,[Intentionally Omitted] (b) a Lender that any Applicable Law has made it unlawful or prohibits such Lender from making or maintaining LIBOR SOFR Advances, or has imposed costs or constraints on such Lender that do not exist on the date hereof in respect of LIBOR SOFR Advances, or (c) a Lender or Lenders with a Commitment or Commitments representing in the aggregate more than 50% of all Commitments that the LIBO Rate Adjusted Term SOFR is less than such Lender or Lenders effective funding cost for making or maintaining LIBOR SOFR Advances, the Agent will so notify the Borrower and no new LIBOR SOFR Advances, no conversion into LIBOR SOFR Advances and no renewal of LIBOR SOFR Advances may be made with such Lender or Lenders from the date of the notice until the cause of such determination has ceased to exist. In any such case, Advances with such Lender or Lenders that otherwise would have been made by way of LIBOR SOFR Advances in the applicable currency will be made by way of Base Rate Advances.