Availability of LIBOR Advances Sample Clauses
The "Availability of LIBOR Advances" clause defines the conditions under which a borrower may request loans or advances that are priced based on the London Interbank Offered Rate (LIBOR). Typically, this clause outlines the requirements for making such requests, such as notice periods, minimum amounts, and any limitations imposed by the lender or regulatory changes affecting LIBOR. Its core function is to clarify when and how LIBOR-based borrowing is permitted, ensuring both parties understand the terms and addressing potential issues arising from the availability or discontinuation of LIBOR as a benchmark rate.
Availability of LIBOR Advances. If any Lender determines that maintenance of any of its LIBOR Loans at a suitable Lending Installation would violate any applicable law, rule, regulation or directive of any Governmental Authority having jurisdiction, the Administrative Agent shall suspend by written notice to Borrower the availability of LIBOR Advances from such Lender and require any LIBOR Advances to be converted to Adjusted Alternate Base Rate Advances, or if the Required Lenders determine that (i) deposits of a type or maturity appropriate to match fund LIBOR Advances are not available, the Administrative Agent shall suspend by written notice to Borrower the availability of LIBOR Advances with respect to any LIBOR Advances made after the date of any such determination, or (ii) an interest rate applicable to a LIBOR Advance does not accurately reflect the cost of making a LIBOR Advance, and, if for any reason whatsoever the provisions of Section 4.1 are inapplicable, the Administrative Agent shall suspend by written notice to Borrower the availability of LIBOR Advances with respect to any LIBOR Advances made after the date of any such determination.
Availability of LIBOR Advances. If any Lender determines that maintenance of any of its LIBOR Loans at a suitable Lending Installation would violate any applicable law, rule, regulation or directive of a person with regulatory powers over any Lender the Administrative Agent shall suspend the availability of LIBOR Advances and require any LIBOR Advances to be repaid; or if the Required Lenders determine that (i) by reasons of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining the LIBOR Rate, the Administrative Agent shall suspend the availability of LIBOR Advances with respect to any LIBOR Advances made after the date of any such determination, or (ii) an interest rate applicable to a LIBOR Advance does not accurately reflect the cost of making a LIBOR Advance, then, if for any reason whatsoever the provisions of Section 3.1 are inapplicable, the Administrative Agent shall suspend the availability of LIBOR Advances with respect to any LIBOR Advances made after the date of any such determination.
Availability of LIBOR Advances. If any Lender determines that maintenance of any of Loans bearing interest at the Adjusted LIBOR Rate at a suitable Lending Installation would violate any applicable law, rule, regulation or directive of any Governmental Authority having jurisdiction, the Agent shall suspend by written notice to Borrower the availability of outstanding LIBOR Advances and require any outstanding LIBOR Advances to be repaid. If the Majority Lenders determine that deposits of a type or maturity appropriate to match fund LIBOR Advances are not available, the Agent shall suspend by written notice to Borrower the availability of LIBOR Advances from and after the date of any such determination. If the Majority Lenders determine that an interest rate applicable to a LIBOR Advance does not accurately reflect the cost of making a LIBOR Advance, and, if for any reason whatsoever the provisions of SECTION 4.1 are inapplicable, the Agent shall suspend by written notice to Borrower the availability of LIBOR Advances from and after the date of any such determination.
Availability of LIBOR Advances. If any Lender in good faith determines that maintenance of any of its LIBOR Loans at a suitable Lending Installation would violate any applicable law, rule, regulation or directive, whether or not having the force of law, the Administrative Agent shall suspend the availability of the affected Type of Advance and require any LIBOR Advances of the affected Type to be repaid; or if the Required Lenders in good faith determine that (i) deposits of a type or maturity appropriate to match fund LIBOR Advances are not available, or (ii) an interest rate applicable to a Type of Advance does not accurately reflect the cost of making a LIBOR Advance of such Type, then, the Administrative Agent shall suspend the availability of the affected Type of Advance with respect to any LIBOR Advances made after the date of any such determination. If the Borrower is required to so repay a LIBOR Advance, the Borrower may concurrently with such repayment borrow from the Lenders, in the amount of such repayment, a Loan bearing interest at the Alternate Base Rate.
Availability of LIBOR Advances. 38 SECTION 4.4
Availability of LIBOR Advances. 44 4.4. Funding Indemnification. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44 4.5. Lender Statements; Survival of Indemnity . . . . . . . . . . . . . . . . . . . . . 44 4.6. Limitation on Borrower's Liability . . . . . . . . . . . . . . . . . . . . . . . . 45
Availability of LIBOR Advances. If any Lender determines that maintenance of any of its LIBOR Loans at a suitable Lending Installation would violate any applicable law, rule, regulation or directive of any Governmental Authority having jurisdiction, the Administrative Agent shall suspend by written notice to Borrower the availability of LIBOR Advances and require any LIBOR Advances to be repaid; or if the Majority Lenders determine that (i) deposits of a type or maturity appropriate to match fund LIBOR Advances are not available, the Administrative Agent shall suspend by written notice to Borrower the availability of LIBOR Advances with respect to any LIBOR Advances made after the date of any such determination, or (ii) an interest rate applicable to a LIBOR Advance does not accurately reflect the cost of making a LIBOR Advance, and, if for any reason whatsoever the provisions of Section 4.1 are inapplicable, the Administrative Agent shall suspend by written notice to Borrower the availability of LIBOR Advances with respect to any LIBOR Advances made after the date of any such determination.