Common use of Circumstances Affecting Benchmark Availability Clause in Contracts

Circumstances Affecting Benchmark Availability. (i) Subject to clause (c) below, if the Administrative Agent determines that the Daily Simple SXXXX Rate cannot be determined in accordance with the terms of this Agreement or the Required Lenders determine that the Daily Simple SXXXX Rate does not adequately and fairly reflect the cost to such Lenders of making or maintaining such SXXXX Loans and delivers written notice of such determination to the Administrative Agent, the Administrative Agent will promptly so notify the Borrower and each Lender, and any outstanding Advances will, so long as such circumstances remain in effect, bear interest at the Central Bank Rate plus the Applicable Margin; provided, in each case, that if the Administrative Agent determines (which determination shall be conclusive and binding absent manifest error) that the Central Bank Rate cannot be determined then, so long as such circumstances remain in effect, the Loans shall bear interest at the Daily Simple SXXXX Rate for the most recent SXXXX Rate Day for which the Daily Simple Sxxxx Rate was determinable plus the Applicable Margin. Upon any such prepayment, the Borrower shall also pay accrued interest on the amount so prepaid.

Circumstances Affecting Benchmark Availability. (i) Subject to clause (c) below, if the Administrative Agent determines that the Daily Simple SXXXX Rate cannot be determined in accordance with the terms of this Agreement or the Required Lenders determine that the Daily Simple SXXXX Rate Xxxx does not adequately and fairly reflect the cost to such Lenders of making or maintaining such SXXXX Loans Xxxxx and delivers written notice of such determination to the Administrative Agent, the Administrative Agent will promptly so notify the Borrower and each Lender, and any outstanding Advances will, so long as such circumstances remain in effect, bear interest at the Central Bank Rate plus the Applicable Margin; provided, in each case, that if the Administrative Agent determines (which determination shall be conclusive and binding absent manifest error) that the Central Bank Rate cannot be determined then, so long as such circumstances remain in effect, the Loans shall bear interest at the Daily Simple SXXXX Rate Xxxx for the most recent SXXXX Rate Day for which the Daily Simple Sxxxx Rate SXXXX Xxxx was determinable plus the Applicable Margin. Upon any such prepayment, the Borrower shall also pay accrued interest on the amount so prepaid.

Circumstances Affecting Benchmark Availability. (i) Subject to clause (c) below, if the Administrative Agent determines that the Daily Simple SXXXX XXXXX Rate cannot be determined in accordance with the terms of this Agreement or the Required Lenders determine that the Daily Simple SXXXX XXXXX Rate does not adequately and fairly reflect the cost to such Lenders of making or maintaining such SXXXX Loans and delivers written notice of such determination to the Administrative Agent, the Administrative Agent will promptly so notify the Borrower and each Lender, and any outstanding Advances will, so long as such circumstances remain in effect, bear interest at the Central Bank Rate plus the Applicable Margin; provided, in each case, that if the Administrative Agent determines (which determination shall be conclusive and binding absent manifest error) that the Central Bank Rate cannot be determined then, so long as such circumstances remain in effect, the Loans shall bear interest at the Daily Simple SXXXX XXXXX Rate for the most recent SXXXX XXXXX Rate Day for which the Daily Simple Sxxxx Xxxxx Rate was determinable plus the Applicable Margin. Upon any such prepayment, the Borrower shall also pay accrued interest on the amount so prepaid.

Circumstances Affecting Benchmark Availability. (i) Subject to clause (c) below, if the Administrative Agent determines that the Daily Simple SXXXX Rate Xxxx cannot be determined in accordance with the terms of this Agreement or the Required Lenders determine that the Daily Simple SXXXX Rate does not adequately and fairly reflect the cost to such Lenders of making or maintaining such SXXXX Loans and delivers written notice of such determination to the Administrative Agent, the Administrative Agent will promptly so notify the Borrower and each Lender, and any outstanding Advances will, so long as such circumstances remain in effect, bear interest at the Central Bank Rate plus the Applicable Margin; provided, in each case, that if the Administrative Agent determines (which determination shall be conclusive and binding absent manifest error) that the Central Bank Rate cannot be determined then, so long as such circumstances remain in effect, the Loans shall bear interest at the Daily Simple SXXXX Rate for the most recent SXXXX Rate Day for which the Daily Simple Sxxxx Rate was determinable plus the Applicable Margin. Upon any such prepayment, the Borrower shall also pay accrued interest on the amount so prepaid.