Common use of Basis of Accrual Clause in Contracts

Basis of Accrual. If the basis of accrual of interest or fees expressed in this Agreement with respect to the currency of any state that becomes a Participating State Member, in Administrative Agent’s judgment, shall not be available because interest rate quotes for a national currency unit are no longer provided, or shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest or fees in respect of the euro, such convention or practice shall replace such expressed basis effective as of and from the date on which such state becomes a Participating Member State; provided, however, if any or all of an Alternate Currency Loan in the currency of such state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such portion of the Alternate Currency Loan, on the last day of the current Interest Period.

Basis of Accrual. If the basis of accrual of interest or fees expressed in this Agreement with respect to the currency of any state that becomes a Participating State Memberparticipating member state, in Administrative Agent’s 's judgment, shall not be available because interest rate quotes for a national currency unit are no longer provided, or shall be inconsistent with any convention or practice in the London interbank market Interbank Market for the basis of accrual of interest or fees in respect of the euro, such convention or practice shall replace such expressed basis effective as of and from the date on which such state becomes a Participating Member Stateparticipating member state; provided, however, if any or all of an Alternate Currency Loan in the currency of such state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such portion Loan, at the end of the Alternate Currency Loan, on the last day of the then current Interest Period.

Basis of Accrual. If the basis of accrual of interest or fees expressed in this Agreement with respect to the currency of any state that becomes a Participating State Memberparticipating member state shall, in Administrative Agent’s a Lender's reasonable judgment, shall not be available because interest rate quotes for a national currency unit are no longer provided, or shall be inconsistent with any convention or practice in the London interbank market Interbank Market for the basis of accrual of interest or fees in respect of the euro, or if interest rate quotes for a national currency are no longer provided, such convention or practice shall replace such expressed basis effective as of and from the date on which such state becomes a Participating Member Stateparticipating member state; provided, however, that if any or all of an Alternate Currency Loan in the currency of such state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such portion Loan, at the end of the Alternate Currency Loan, on the last day of the then current Interest Period.

Basis of Accrual. If the basis of accrual of interest or fees expressed in this Agreement with respect to the currency of any state that becomes a Participating Member State Membershall, in Administrative Agent’s a Lender's reasonable judgment, shall not be available because interest rate quotes for a national currency unit are no longer provided, or shall be inconsistent with any convention or practice in the London interbank market Interbank Market for the basis of accrual of interest or fees in respect of the euroEuro, or if interest rate quotes for a National Currency Unit are no longer provided, such convention or practice shall replace such expressed basis effective as of and from the date on which such state becomes a Participating Member State; provided, however, that if any or all of an Alternate Currency Loan in the currency of such state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such portion Loan, at the end of the Alternate Currency Loan, on the last day of the then current Interest Period.

Basis of Accrual. If the basis of accrual of interest (such as IBOR) or fees expressed in this Agreement with respect to the currency of any state that becomes a Participating State Memberparticipating member state, in the Administrative Agent’s 's reasonable, good faith judgment, shall not be available because interest rate quotes for a national currency unit are no longer provided, or shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest or fees in respect of the euro, such convention or practice shall replace such expressed basis effective as of and from the date on which such state becomes a Participating Member Stateparticipating member state; provided, however, if any or all of an Alternate Currency Loan in the currency of such state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such portion Loan, at the end of the Alternate Currency Loan, on the last day of the then current Interest Period.