Common use of Changes in Clause in Contracts

Changes in. market circumstances If at any time a Bank determines (which determination shall be final and conclusive and binding on the Borrower) that, by reason of changes affecting the London Interbank market, adequate and fair means do not exist for ascertaining the rate of interest on the Facility or any part thereof pursuant to this Agreement:- 15.8.1 that Bank shall give notice to the Agent and the Agent shall give notice to the Borrower of the occurrence of such event; and 15.8.2 the Agent shall as soon as reasonably practicable certify to the Borrower in writing the effective cost to that Bank of maintaining its Commitment for such further period as shall be selected by that Bank and the rate of interest payable by the Borrower for that period; or, if that is not acceptable to the Borrower, 15.8.3 the Agent in accordance with instructions from that Bank and subject to that Bank's approval of any agreement between the Agent and the Borrower, will negotiate with the Borrower in good faith with a view to modifying this Agreement to provide a substitute basis for that Bank’s Commitment which is financially a substantial equivalent to the basis provided for in this Agreement. If, within thirty days of the giving of the notice referred to in Clause 15.8.1, the Borrower and the Agent fail to agree in writing on a substitute basis for such Bank’s Commitment the Borrower will immediately prepay the amount of such Bank’s Commitment and the Maximum Facility Amount will automatically decrease by the amount of such Commitment and such decrease shall not be reversed. Clause 5.4 shall apply to that prepayment if it is made on a day other than the last day of an Interest Period.

Changes in. market circumstances If at any time a Bank determines (which determination shall be final and conclusive and binding on the Borrower) that, by reason of changes affecting the London Interbank market, adequate and fair means do not exist for ascertaining the rate of interest on the Facility or any part thereof pursuant to this Agreement:- 15.8.1 that Bank shall give notice to the Agent and the Agent shall give notice to the Borrower of the occurrence of such event; and 15.8.2 the Agent shall as soon as reasonably practicable certify to the Borrower in writing the effective cost to that Bank of maintaining its Commitment for such further period as shall be selected by that Bank and the rate of interest payable by the Borrower for that period; or, if that is not acceptable to the Borrower, 15.8.3 the Agent in accordance with instructions from that Bank and subject to that Bank's ’s approval of any agreement between the Agent and the Borrower, will negotiate with the Borrower in good faith with a view to modifying this Agreement to provide a substitute basis for that Bank’s Commitment which is financially a substantial equivalent to the basis provided for in this Agreement. If, within thirty days of the giving of the notice referred to in Clause 15.8.1, the Borrower and the Agent fail to agree in writing on a substitute basis for such Bank’s Commitment the Borrower will immediately prepay the amount of such Bank’s Commitment and the Maximum Facility Amount will automatically decrease by the amount of such Commitment and such decrease shall not be reversed. Clause 5.4 shall apply to that prepayment if it is made on a day other than the last day of an Interest Period.

Changes in. market circumstances If at any time a Bank determines (which determination shall be final and conclusive and binding on the Borrower) that, by reason of changes affecting the London Interbank market, adequate and fair means do not exist for ascertaining the rate of interest on the Facility or any part thereof pursuant to this Agreement:-Agreement:¬ 15.8.1 that Bank shall give notice to the Agent and the Agent shall give notice to the Borrower of the occurrence of such event; and 15.8.2 the Agent shall as soon as reasonably practicable certify to the Borrower in writing the effective cost to that Bank of maintaining its Commitment for such further period as shall be selected by that Bank and the rate of interest payable by the Borrower for that period; or, if that is not acceptable to the Borrower, 15.8.3 the Agent in accordance with instructions from that Bank and subject to that Bank's ’s approval of any agreement between the Agent and the Borrower, will negotiate with the Borrower in good faith with a view to modifying this Agreement to provide a substitute basis for that Bank’s Commitment which is financially a substantial equivalent to the basis provided for in this Agreement. If, within thirty days of the giving of the notice referred to in Clause 15.8.1, the Borrower and the Agent fail to agree in writing on a substitute basis for such Bank’s Commitment the Borrower will immediately prepay the amount of such Bank’s Commitment and the Maximum Facility Amount will automatically decrease by the amount of such Commitment and such decrease shall not be reversed. Clause 5.4 shall apply to that prepayment if it is made on a day other than the last day of an Interest Period.

Changes in. market circumstances If at any time a Bank Lender determines (which determination shall be final and conclusive and binding on the BorrowerBorrowers) that, by reason of changes affecting the London Interbank market, adequate and fair means do not exist for ascertaining the rate of interest on the Facility or any part thereof pursuant to this Agreement:- 15.8.1 13.8.1 that Bank Lender shall give notice to the Agent and the Agent shall give notice to the Borrower Borrowers of the occurrence of such event; and 15.8.2 13.8.2 the Agent shall as soon as reasonably practicable certify to the Borrower Borrowers in writing the effective cost to that Bank Lender of maintaining its Commitment for such further period as shall be selected by that Bank Lender and the rate of interest payable by the Borrower Borrowers for that period; or, if that is not acceptable to the BorrowerBorrowers, 15.8.3 13.8.3 the Agent in accordance with instructions from that Bank Xxxxxx and subject to that Bank's Xxxxxx’s approval of any agreement between the Agent and the BorrowerBorrowers, will negotiate with the Borrower Borrowers in good faith with a view to modifying this Agreement to provide a substitute basis for that BankXxxxxx’s Commitment which is financially a substantial equivalent to the basis provided for in this Agreement. If, within thirty (30) days of the giving of the notice referred to in Clause 15.8.113.8.1, the Borrower Borrowers and the Agent fail to agree in writing on a substitute basis for such BankXxxxxx’s Commitment the Borrower Borrowers will immediately prepay the amount of such BankXxxxxx’s Commitment and the Maximum Facility Amount will automatically decrease by the amount of such Commitment and such decrease shall not be reversed. Clause 5.4 shall apply to that prepayment if it is made on a day other than the last day of an Interest Period.