Common use of Changes to the Interest Rate Calculation Basis Clause in Contracts

Changes to the Interest Rate Calculation Basis. The Parties agree that, notwithstanding any change in market practice that may, at any moment, affect the determination of the LIBOR Interest Rate, the Borrower’s payments shall remain linked to the Bank’s funding. For purposes of obtaining and maintaining such link under such circumstances, the Parties expressly agree that the Calculation Agent, seeking to reflect the Bank’s corresponding funding, shall determine: (i) the occurrence of such changes; and (ii) the alternate base rate applicable to determine the appropriate amount to be paid by the Borrower. The Calculation Agent shall notify the Borrower and the Guarantor of the applicable alternate base rate, if any, with no less than sixty (60) days prior notice. The alternate base rate shall become effective on the expiration of such notice period.

Changes to the Interest Rate Calculation Basis. The Parties agree that, notwithstanding any change in market practice that may, at any moment, affect the determination of the LIBOR Interest Rate, the Borrower’s 's payments shall remain linked to the Bank’s 's funding. For purposes of obtaining and maintaining such link under such circumstances, the Parties expressly agree that the Calculation Agent, seeking to reflect the Bank’s 's corresponding funding, shall determine: (i) the occurrence of such changes; and (ii) the alternate base rate applicable to determine the appropriate amount to be paid by the Borrower. The Calculation Agent shall notify the Borrower and the Guarantor of the applicable alternate base rate, if any, with no less than sixty (60) days prior notice. The alternate base rate shall become effective on the expiration of such notice period.

Changes to the Interest Rate Calculation Basis. The Parties agree that, notwithstanding any change in market practice that may, at any moment, affect the determination of the ofthe LIBOR Interest Rate, the Borrower’s 's payments shall remain linked to the Bank’s 's funding. For purposes of obtaining and maintaining such link under such circumstances, the Parties expressly agree that the Calculation Agent, seeking to reflect the Bank’s 's corresponding funding, shall determine: (i) the occurrence of such ofsuch changes; and (ii) the alternate base rate applicable to determine the appropriate amount to be paid by the Borrower. The Calculation Agent shall notify the Borrower and the Guarantor of the Guarantor, ifany, ofthe applicable alternate base rate, if any, with no less than sixty (60) days prior notice. The alternate base rate shall become effective on the expiration of such ofsuch notice period.