Common use of CHANGE IN CIRCUMSTANCES; COMPENSATION Clause in Contracts

CHANGE IN CIRCUMSTANCES; COMPENSATION. SECTION 8.1. Basis for Determining Interest Rate Inadequate or Unfair. If on or prior to the first day of any Interest Period, the Agent determines that deposits in Dollars (in the applicable amounts) are not being offered in the relevant market for such Interest Period, or the Required Banks advise the Agent that the Adjusted LIBOR Rate, as determined by the Agent, will not adequately and fairly reflect the cost to such Banks of funding the relevant Euro-Dollar Rate Loans for such Interest Period, then, the Agent shall forthwith give notice thereof to the Borrower and the Banks, whereupon until the Agent notifies the Borrower that the circumstances giving rise to such suspension no longer exist, the obligations of the Banks to make the Euro-Dollar Rate Loans specified in such notice shall be suspended. Unless the Borrower notifies the Agent at least two (2) Domestic Business days before the date of any Borrowing of such Euro-Dollar Rate Loans for which a Notice of Borrowing has previously been given that it elects not to borrow on such date, such Borrowing shall instead be made as a Base Rate Borrowing.

CHANGE IN CIRCUMSTANCES; COMPENSATION. SECTION 8.1. Basis for Determining Interest Rate Inadequate or Unfair. If on or prior to the first day of any Interest Period, the Administrative Agent determines that deposits in Dollars (in the applicable amounts) are not being offered in the relevant market for such Interest Period, or the Required Banks advise the Administrative Agent that the Adjusted LIBOR Rate, as determined by the Administrative Agent, will not adequately and fairly reflect the cost to such Banks of funding the relevant Euro-Dollar Rate Loans for such Interest Period, then, 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 the Euro-Dollar Rate Loans specified in such notice shall be suspended. Unless the Borrower notifies the Administrative Agent at least two (2) Domestic Business days before the date of any Borrowing of such Euro-Dollar Rate Loans for which a Notice of Borrowing has previously been given that it elects not to borrow on such date, such Borrowing shall instead be made as a Base Rate Borrowing.

CHANGE IN CIRCUMSTANCES; COMPENSATION. SECTION 8.1. Basis for Determining Interest Rate Inadequate or UnfairBASIS FOR DETERMINING INTEREST RATE INADEQUATE OR UNFAIR. If on or prior to the first day of any Interest Period, the Administrative Agent determines that deposits in Dollars (in the applicable amounts) are not being offered in the relevant market for such Interest Period, or the Required Banks advise the Administrative Agent that the Adjusted LIBOR Rate, as determined by the Administrative Agent, will not adequately and fairly reflect the cost to such Banks of funding the relevant Euro-Dollar Rate Loans for such Interest Period, then, 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 the Euro-Dollar Rate Loans specified in such notice shall be suspended. Unless the Borrower notifies the Administrative Agent at least two (2) Domestic Business days before the date of any Borrowing of such Euro-Dollar Rate Loans for which a Notice of Borrowing has previously been given that it elects not to borrow on such date, such Borrowing shall instead be made as a Base Rate Borrowing.

CHANGE IN CIRCUMSTANCES; COMPENSATION. SECTION 8.1. Basis for Determining Interest Rate Inadequate or Unfair. If on or prior to the first day of any Interest Period, the Agent determines that deposits in Dollars (in the applicable amounts) are not being offered in the relevant market for such Interest Period, or the Required Banks advise the Agent that the Adjusted LIBOR Rate, as determined by the Agent, will not adequately and fairly reflect the cost to such Banks of funding the relevant Euro-Dollar Rate Loans Loan Tranche for such Interest Period, then, the Agent shall forthwith give notice thereof to the Borrower and the Banks, whereupon until the Agent notifies the Borrower that the circumstances giving rise to such suspension no longer exist, the obligations of the Banks to make the Euro-Dollar Rate Loans Loan Tranche specified in such notice shall be suspended. Unless the Borrower notifies the Agent at least two (2) Domestic Business days before the date of any Borrowing of such Euro-Dollar Rate Loans Loan Tranche for which a Notice of Borrowing has previously been given that it elects not to borrow on such date, such Borrowing shall instead be made as a Base Rate Borrowing.