Common use of Conditions for Basing Interest on the LIBOR Rate Clause in Contracts

Conditions for Basing Interest on the LIBOR Rate. Upon the condition that: (a) The Bank shall have received a LIBOR Request from the Borrower or Biosphere, as applicable, prior to noon at least two (2) Banking Days prior to the first day of the LIBOR Period requested; (b) There shall have occurred no change in applicable law which would make it unlawful for the Bank to obtain deposits of U.S. dollars in the London interbank foreign currency deposits market; (c) As of the date of the LIBOR Request and the first day of the LIBOR Period, there shall exist no Event of Default, nor any Default, which has not been waived by the Bank; (d) The Bank shall not have determined in good faith that it is unable to determine the LIBOR Rate in respect of the requested LIBOR Period or that it is unable to obtain deposits of U.S. dollars in the London interbank foreign currency deposits market in the applicable amounts and for the requested LIBOR Period; and (e) As of the first date of the LIBOR Period specified in such LIBOR Request, and after having given effect thereto, there shall be no more than an aggregate of four (4) LIBOR Portions outstanding; then interest on the LIBOR Portion requested during the LIBOR Period requested will be at the applicable LIBOR Rate.

Conditions for Basing Interest on the LIBOR Rate. Upon the condition that: (a) The Bank shall have received a LIBOR Request from the Borrower or Biosphere, as applicable, Company prior to noon at least two (2) Banking Days prior to the first day of the LIBOR Period requested; (b) There shall have occurred no change in applicable law which would make it unlawful for the Bank to obtain deposits of U.S. dollars in the London interbank foreign currency deposits market; (c) As of the date of the LIBOR Request and the first day of the LIBOR Period, there shall exist no Event of Default, nor any Default, which has not been waived by the Bank; (d) The Bank shall not have determined in good faith that it is unable to determine the LIBOR Rate in respect of the requested LIBOR Period or that it is unable to obtain deposits of U.S. dollars in the London interbank foreign currency deposits market in the applicable amounts and for the requested LIBOR Period; and (e) As of the first date of the LIBOR Period specified in such LIBOR Request, and after having given effect thereto, there shall be no more than an aggregate of four (4) LIBOR Portions outstanding; then interest on the LIBOR Portion requested during the LIBOR Period requested will be at the applicable LIBOR Rate.

Conditions for Basing Interest on the LIBOR Rate. Upon the condition that: (a) The Bank shall have received a LIBOR Request from the Borrower or Biosphere, as applicable, Company prior to noon at least two three (23) Banking Days prior to the first day of the LIBOR Period requested; (b) There shall have occurred no change in applicable law which would make it unlawful for the Bank to obtain deposits of U.S. dollars in the London interbank foreign currency deposits market; (c) As of the date of the LIBOR Request and the first day of the LIBOR Period, there shall exist no Event of Default, nor any Default, which has not been waived by the Bank; (d) The Bank shall not have determined in good faith that it is unable to determine the LIBOR Rate in respect of the requested LIBOR Period or that it is unable to obtain deposits of U.S. dollars in the London interbank foreign currency deposits market in the applicable amounts and for the requested LIBOR Period; and (e) As of the first date of the LIBOR Period specified in such LIBOR Request, and after having given effect thereto, there shall be no more than an aggregate of four five (45) LIBOR Portions outstanding; then interest on the LIBOR Portion requested during the LIBOR Period requested will be at the applicable LIBOR Rate.

Conditions for Basing Interest on the LIBOR Rate. Upon the condition that:: ----------------------------------------------------- (a) The Bank Lenders and the Agent shall have received a LIBOR Borrowing Request from the Borrower or BiosphereCompany, as applicable, prior to noon at least two three (23) Banking Days prior to the first day of the LIBOR Period requestedrequested indicating the requested LIBOR Portion; (b) There shall have occurred no change in applicable law which would make it unlawful for the Bank Agent to obtain deposits of U.S. dollars in the London interbank foreign currency deposits market; (c) As of the date of the LIBOR Borrowing Request and the first day of the LIBOR Period, there shall exist no Default or Event of Default, nor any Default, which has not been waived by the Bank;; and (d) The Bank Agent shall not have determined in good faith that it is unable to determine the LIBOR Rate in respect of the requested LIBOR Period or that it is unable to obtain deposits of U.S. dollars in the London interbank foreign currency deposits market in the applicable amounts and for the requested LIBOR Period; and (e) As of the first date of the LIBOR Period specified in such LIBOR Request, and after having given effect thereto, there shall be no more than an aggregate of four (4) LIBOR Portions outstanding; then interest on the LIBOR Portion requested during the LIBOR Period requested will be at based on the applicable LIBOR Rate. All Loans requested hereunder shall be subject to the LIBOR Rate unless the conditions set forth in this Section 2.2 are not satisfied or waived by the Lenders. In the event that ----------- the conditions set forth herein or not satisfied or waived by the Lenders, the Loans requested with such Borrowing Request shall be subject to the Applicable Prime Rate.

Conditions for Basing Interest on the LIBOR Rate. Upon the condition that: (a) The Bank shall have received a LIBOR Request from the Borrower or Biosphere, as applicable, Company prior to noon at least 11:00 a.m., Boston time, two (2) Banking Days prior to the first day of the LIBOR Period requested; (b) There shall have occurred no change in applicable law which would make it unlawful for the Bank to obtain deposits of U.S. dollars in the London interbank foreign currency deposits market; (c) As of the date of the LIBOR Request and the first day of the LIBOR Period, there shall exist no Event of Default, nor any event which, with the giving of notice or expiration of any applicable grace period or both would constitute an Event of Default, which has is not been waived by the Bank; (d) After giving effect to such LIBOR Request, not more than five (5) LIBOR Portions of the Revolving Credit Loans shall be outstanding; and (e) The Bank shall not have determined in good faith that it is unable to determine the LIBOR Rate in respect of the requested LIBOR Period or that it is unable to obtain deposits of U.S. dollars in the London interbank foreign currency deposits market in the applicable amounts and for the requested LIBOR Period; and (e) As of the first date of the LIBOR Period specified in such LIBOR Request, and after having given effect thereto, there shall be no more than an aggregate of four (4) LIBOR Portions outstanding; then interest on the LIBOR Portion requested during the LIBOR Period requested will be at based on the applicable LIBOR Rate.

Conditions for Basing Interest on the LIBOR Rate. Upon the condition that: (a) The Bank shall have received a LIBOR Request from the Borrower or Biosphere, as applicable, Company prior to noon at least two three (23) Banking Days prior to the first day of the LIBOR Period requested; (b) There shall have occurred no change in applicable law which would make it unlawful for the Bank to obtain deposits of U.S. dollars in the London interbank foreign currency deposits market; (c) As of the date of the LIBOR Request and the first day of the LIBOR Period, there shall exist no Event of Default, nor any Default, which has not been waived by the Bank; (d) The Bank shall not have determined in good faith that it is unable to determine the LIBOR Rate in respect of the requested LIBOR Period or that it is unable to obtain deposits of U.S. dollars in the London interbank foreign currency deposits market in the applicable amounts and for the requested LIBOR Period; and (e) As of the first date of the LIBOR Period specified in such LIBOR Request, and after having given effect thereto, there shall be no more than an aggregate of four (4) LIBOR Portions outstanding; then interest on the LIBOR Portion requested during the LIBOR Period requested will be at the applicable LIBOR Rate.