Common use of CHANGES TO THE CALCULATION OF INTEREST Clause in Contracts

CHANGES TO THE CALCULATION OF INTEREST. 12.1 Absence of quotations (a) if EURIBOR, LIBOR or NIBOR, as applicable, is to be determined by reference to the Base Reference Banks but a Base Reference Bank does not supply a quotation by the Specified Time on the Quotation Day, the applicable EURIBOR, LIBOR or NIBOR shall be determined on the basis of the quotations of the remaining Base Reference Banks; or (b) if Clause 12.3 (Alternative Reference Bank Rate) applies but an Alternative Reference Bank does not supply a quotation before close of business in London on the date falling one Business Day after the Quotation Day for that Loan, the applicable Alternative Reference Bank Rate shall be determined on the basis of the quotations of the remaining Alternative Reference Banks.

CHANGES TO THE CALCULATION OF INTEREST. 12.1 Absence of quotations (a) if EURIBOREURIBOR or, if applicable, LIBOR or NIBOR, as applicable, is to be determined by reference to the Base Reference Banks but a Base Reference Bank does not supply a quotation by the Specified Time on the Quotation Day, the applicable EURIBOR, EURIBOR or LIBOR or NIBOR shall be determined on the basis of the quotations of the remaining Base Reference Banks; or (b) if Clause 12.3 (Alternative Reference Bank Rate) applies but an Alternative Reference Bank does not supply a quotation before close of business in London on the date falling one Business Day after the Quotation Day for that Loan, the applicable Alternative Reference Bank Rate shall be determined on the basis of the quotations of the remaining Alternative Reference Banks.

CHANGES TO THE CALCULATION OF INTEREST. 12.1 16.1 Absence of quotations (a) if EURIBORLIBOR or, LIBOR or NIBOR, as if applicable, EURIBOR is to be determined by reference to the Base Reference Banks but a Base one or more Reference Bank does Banks do not supply a quotation by the Specified Time on the Quotation Day, the applicable EURIBOR, LIBOR or NIBOR EURIBOR shall be determined on the basis of the quotations of the remaining Base Reference Banks; or (b) if Clause 12.3 16.3 (Alternative Reference Bank Rate) applies but an one or more Alternative Reference Bank does Banks do not supply a quotation before close of business in London on the date falling one Business Day after the Quotation Day for that Loan, the applicable Alternative Reference Bank Rate shall be determined on the basis of the quotations of the remaining Alternative Reference Banks.