Basis for Determining Interest Rate Inadequate Sample Clauses

Basis for Determining Interest Rate Inadequate. In the event that Agent or any Lender shall have determined that: (i) reasonable means do not exist for ascertaining the LIBOR for any Interest Period; or (ii) Dollar deposits in the relevant amount and for the relevant maturity are not available in the London interbank market with respect to a proposed LIBOR Portion, or a proposed conversion of a Base Rate Portion into a LIBOR Portion; then Agent or such Lender shall give Borrowers prompt written, telephonic or electronic notice of the determination of such effect. If such notice is given, (i) any such requested LIBOR Portion shall be made as a Base Rate Portion, unless Borrowers shall notify Agent no later than 10:00 a.m. (Chicago, Illinois time) three (3) Business Days prior to the date of such proposed borrowing that the request for such borrowing shall be canceled or made as an unaffected type of LIBOR Portion, and (ii) any Base Rate Portion which was to have been converted to an affected type of LIBOR Portion shall be continued as or converted into a Base Rate Portion, or, if Borrowers shall notify Agent, no later than 10:00 a.m. (Chicago, Illinois time) three (3) Business Days prior to the proposed conversion, shall be maintained as an unaffected type of LIBOR Portion.

Basis for Determining Interest Rate Inadequate. In the event that Agent, Canadian Agent or U.K. Agent or any Lender shall have determined that: (i) reasonable means do not exist for ascertaining the LIBOR for any Interest Period or the Canadian BA Rate for any term; or (ii) Sterling, Euro or Dollar deposits in the relevant amount and for the relevant maturity are not available in the London interbank market with respect to a proposed LIBOR Portion, or that a market does not exist for Canadian BA Rate Loans, or a proposed conversion of a Base Rate Portion into a LIBOR Portion or a Canadian Prime Rate Loan into a Canadian BA Rate Loan; then Agent, Canadian Agent, U.K. Agent or such Lender, as applicable, shall give Borrower Representative prompt written, telephonic or electronic notice of the determination of such effect. If such notice is given, (i) any such requested LIBOR Portion (in the affected currency, if not all applicable currencies are affected) shall be made as a Base Rate Portion, unless Borrower Representative shall notify Agent at the Appropriate Notice Office no later than 10:00 a.m. (prevailing time in the location of the Appropriate Notice Office) three (3) Business Days prior to the date of such proposed borrowing that the request for such borrowing shall be canceled or made as an unaffected type of LIBOR Portion, (ii) any Base Rate Portion which was to have been converted to an affected type of LIBOR Portion shall be continued as or converted into a Base Rate Portion, or, if Borrower Representative shall notify Agent at the Appropriate Notice Office, no later than 10:00 a.m. (prevailing time in the location of the Appropriate Notice Office) three (3) Business Days prior to the proposed conversion, shall be maintained as an unaffected type of LIBOR Portion, (iii) any such requested Canadian BA Rate Loan shall be made as a Canadian Prime Rate Loan, unless Borrower Representative shall notify Canadian Agent at the Appropriate Notice Office no later than 10:00 a.m. (prevailing time in the location of the Appropriate Notice Office), three (3) Business Days prior to the date of such proposed borrowing that the request for such borrowing shall be canceled and (iv) any Canadian Prime Rate Loan which was to have been converted to an affected type of Canadian BA Rate Loan shall be continued as or converted into a Canadian Prime Rate Loans, or, if Borrower Representative shall notify Canadian Agent at the Appropriate Notice Office, no later than 10:00 a.m. (prevailing time in the location of the A...

Basis for Determining Interest Rate Inadequate. If on or prior to the first day of any Interest Period for any Eurocurrency Borrowing, the Administrative Agent is advised by the Required Banks that deposits in Dollars (in the applicable amounts) are not being offered to the Required Banks in the relevant market for such Interest Period, the Administrative Agent shall forthwith give notice thereof to the Borrower and the Banks, whereupon until the Administrative Agent notifies the Borrower that the circumstances giving rise to such suspension no longer exist, the obligations of the Banks to make Eurocurrency Loans shall be suspended. Unless the Borrower notifies the Administrative Agent at least two Domestic Business Days before the date of any Eurocurrency Borrowing for which a Notice of Borrowing has previously been given that it elects not to borrow such Borrowing on such date, such Borrowing shall instead be made as a Base Rate Borrowing.

Basis for Determining Interest Rate Inadequate. If with respect to any Interest Period (i) the Administrative Agent determines that deposits in Dollars (in the applicable amounts) are not being offered to Bank One in the relevant market for such Interest Period, or (ii) Banks holding Notes evidencing at least 50% in aggregate principal amount of the Eurodollar Loans (or the Commitments, if no Eurodollar Loans are then outstanding) advise the Administrative Agent that the Eurodollar Base Rate as determined by the Administrative Agent will not adequately and fairly reflect the cost to such Banks of maintaining or funding their Eurodollar Loans for such Interest Period, the Administrative Agent shall forthwith give notice thereof to the Borrower, whereupon the obligations of the Banks to make Eurodollar Loans shall be suspended until the Administrative Agent notifies the Borrower that the circumstances giving rise to such suspension no longer exist. Unless the Borrower notifies the Administrative Agent at least two Business Days before the date of any Eurodollar Loan for which a Notice of Borrowing has previously been given that it elects not to borrow on such date, such Loans shall instead be made as Base Rate Loans.

Basis for Determining Interest Rate Inadequate. If the Lender reasonably determines (which determination shall be binding and conclusive on the Borrower) that by reason of circumstances affecting the interbank LIBOR market adequate and reasonable means do not exist for ascertaining the applicable LIBOR Rate then the Lender shall promptly notify the other parties thereof and, so long as such circumstances shall continue, any Loan accruing interest based on the LIBOR Rate shall be converted to a Loan accruing interest based on the Prime Rate plus zero (0) basis points (0.0%).

Basis for Determining Interest Rate Inadequate. If on or prior to the first day of any Interest Period for any Eurodollar Loan, the Required Banks notify Xxxxxx US that the Eurodollar Rate will not adequately reflect the cost to such Banks (the "Notifying Banks") of funding their Eurodollar Loans for such Interest Period, then until a sufficient number of Notifying Banks have given notice to Xxxxxx US that the circumstances giving rise to such suspension no longer exist, the obligations of the Banks to make Eurodollar Loans shall be suspended. Unless a Borrower notifies each Bank at least two Business Days before the date of such Eurodollar Loan for which a notice of borrowing has previously been given that it elects not to borrow on such date, such Eurodollar Loan shall instead be made as a Base Rate Loan. When each Notifying Bank determines that the circumstances giving rise to such suspension no longer exist, such Bank shall so notify Xxxxxx US at which time such Bank shall cease to be regarded as a Notifying Bank. When the Notifying Banks are less than the Required Banks, then such suspension will terminate and after such date the obligations of the Banks to make Eurodollar Loans shall resume and the Borrowers may resume giving notices for Eurodollar Loans.

Basis for Determining Interest Rate Inadequate. Section 3.9 of the Loan Agreement is hereby amended by deleting each reference to the term "Revolving Credit Lender" therein and substituting in lieu thereof the term "Lender".

Basis for Determining Interest Rate Inadequate. If, with respect to any Interest Period, (i) the Bank determines that deposits in Dollars are not being offered to banks in the relevant market for such Interest Period, or (ii) the Bank shall determine that interest determined by the Bank by reference to LIBOR will not adequately and fairly cover the cost to the Bank of maintaining and funding its LIBOR Loans, the Bank shall give notice thereof to the Company, whereupon the obligations of the Bank to make LIBOR Loans shall be suspended until such time as the Bank notifies the Company that the circumstances giving rise to such suspension no longer exist and the Bank shall extend Base Rate Loans in lieu thereof until such suspension has ended.

Basis for Determining Interest Rate Inadequate. In the event that Agent or any Lender shall have determined that: (i) reasonable means do not exist for ascertaining the LIBOR for any Interest Period; or (ii) Dollar deposits in the relevant amount and for the relevant maturity are not available in the London interbank market with respect to a proposed LIBOR Portion, or a proposed conversion of a Base Rate Portion into a LIBOR Portion; then

Basis for Determining Interest Rate Inadequate. If on or prior to the first day of any Interest Period for any Fixed Rate Borrowing, the Administrative Agent is advised by all of the Reference Banks that deposits in dollars (in the applicable amounts) are not being offered to the Reference Banks in the relevant market for such Interest Period, the Administrative Agent shall forthwith give notice thereof to the Borrower and the Banks, whereupon until the Administrative Agent notifies the Borrower that the circumstances giving rise to such suspension no longer exist, the obligations of the Banks to make CD Loans or Euro-Dollar Loans, as the case may be, shall be suspended. Unless the Borrower notifies the Administrative Agent at least two Domestic Business Days before the date of any Fixed Rate Borrowing for which a Notice of Borrowing has previously been given that it elects not to borrow such Borrowing on such date, such Borrowing shall instead be made as a Base Rate Borrowing.