Common use of Disaster Clause in Contracts

Disaster. Notwithstanding anything to the contrary herein, if the Bank determines (which determination shall be conclusive) that: (1) Quotations of interest rates for the relevant deposits referred to in the definition of LIBOR Interest Rate, are not being provided in the relevant amounts or for the relative maturities for purposes of determining the rate of interest on a LIBOR or Cost of Funds Loan as provided in this Agreement; or (2) The relevant rates of interest referred to in the definition of LIBOR Interest Rate, upon the basis of which the rate of interest for any such type of loan is to be determined do not accurately cover the cost to the Bank of making or maintaining such type of Loans; then the Bank shall forthwith give notice thereof to the Borrower, whereupon (a) the obligation of the Bank to make LIBOR Loans, shall be suspended until the Bank notifies the Borrower that the circumstances giving rise to such suspension no longer exist; and (b) the Borrower shall repay in full the then outstanding principal amount of each LIBOR Loan together with accrued interest thereon, on the last day of the then current Interest Period applicable to such Loan, or at the option of Borrower such Loan shall be converted into a Prime Rate Loan or a Fixed Rate Loan..

Disaster. Notwithstanding anything to the contrary herein, if the Bank reasonably determines (which determination shall be conclusive) that: (1) Quotations of interest rates for the relevant deposits referred to in the definition of LIBOR Interest Rate, Rate are not being provided in the relevant amounts or for the relative maturities for purposes of determining the rate of interest on a LIBOR or Cost of Funds Loan as provided in this Agreement; or (2) The relevant rates of interest referred to in the definition of LIBOR Interest Rate, Rate upon the basis of which the rate of interest for any such type of loan is to be determined do not accurately cover the cost to the Bank of making or maintaining such type of LoansLoan; then the Bank shall forthwith give notice thereof to the Borrower, whereupon (a) the obligation of the Bank to make LIBOR Loans, Loans shall be suspended until the Bank notifies the Borrower that the circumstances giving rise to such suspension no longer exist; and (b) the Borrower shall repay in full the then outstanding principal amount of each LIBOR Loan together with accrued interest thereon, on the last day of the then current Standard Interest Period applicable to such Loan, or at the option of Borrower such Loan Rate shall be converted into a Prime Rate Loan or a Fixed Rate Loan..amended to be based upon an alternative interest rate index reference commercially accepted in the finance industry, which reference shall be mutually and reasonably agreed upon by the parties hereto.

Disaster. Notwithstanding anything to the contrary herein, if the Bank Administrative Agent determines (which determination shall be conclusive) that: (1) Quotations that quotations of interest rates for the relevant deposits referred to in the definition of LIBOR Interest Rate, are not being provided in the relevant amounts or for the relative maturities for purposes of determining the rate of interest on a LIBOR or Cost of Funds Loan as provided in this Agreement; or , or if the Majority Banks determine (2which determination shall be conclusive) The that the relevant rates of interest referred to in the definition of LIBOR Interest Rate, upon the basis of which the rate of interest for any such type of loan Loan is to be determined do not accurately cover the cost to the Bank Banks of making or maintaining such type of Loans; , then the Bank Administrative Agent shall forthwith give notice thereof to the Borrower, whereupon (a) the obligation of the Bank Banks to make LIBOR Loans, shall be suspended until the Bank Administrative Agent notifies the Borrower that the circumstances giving rise to such suspension no longer exist; , and (b) the Borrower shall repay in full the then outstanding principal amount of each LIBOR Loan Loan, together with accrued interest thereon, on the last day of the then current Interest Period applicable to such Loan, or at the option of Borrower such Loan shall be converted into a Prime Rate Loan or a Fixed Rate Loan...

Disaster. Notwithstanding anything to the contrary herein, if the Bank determines (which determination shall be conclusive) that: (1i) Quotations of interest rates for the relevant deposits referred to in the definition of LIBOR Interest Rate, Rate are not being provided in the relevant amounts or for the relative maturities for purposes of determining the rate of interest on a LIBOR or Cost of Funds Loan as provided in this Loan Agreement; or (2ii) The relevant rates of interest referred to in the definition of LIBOR Interest Rate, upon the basis of which the rate of interest for any such type of loan Loan is to be determined do determined, does not accurately cover the cost to the Bank of making or maintaining such type of Loans; then the Bank shall forthwith give notice thereof to the Borrower, whereupon (a) the obligation of the Bank to make LIBOR Loans, shall be suspended until the Bank notifies the Borrower that the circumstances giving rise to such suspension no longer exist, (a) the obligation of the Bank to make LIBOR Loans shall be suspended; and (b) the Borrower shall repay in full the then outstanding principal amount of each LIBOR Loan together with accrued interest thereonthereon shall be converted to a Prime Loan, on the last day of the then current Interest Period applicable to such Loan, or at the option of Borrower such Loan shall be converted into a Prime Rate Loan or a Fixed Rate Loan...

Disaster. Notwithstanding anything to the contrary herein, if -------- the Bank determines (which determination shall be conclusive) that: (1) Quotations of interest rates for the relevant deposits referred to in the definition of LIBOR Interest Rate, Rate are not being provided in the relevant amounts or for the relative maturities for purposes of determining the rate of interest on a LIBOR or Cost of Funds Loan as provided in this Agreement; or (2) The relevant rates of interest referred to in the definition of LIBOR Interest Rate, Rate upon the basis of which the rate of interest for any such type of loan is to be determined do not accurately cover the cost to the Bank bank of making or maintaining such type of Loans; then the Bank shall forthwith give three (3) days written notice thereof to the BorrowerBorrowers, whereupon (a) the obligation of the Bank to make LIBOR Loans, Loans shall be suspended until the Bank notifies the Borrower Borrowers that the circumstances giving rise to such suspension no longer exist; and (b) the Borrower Borrowers shall repay in full the then outstanding principal amount of each LIBOR Loan together with accrued interest thereon, on the last day of the then current Interest Period applicable to such Loan, or at the option of Borrower such Loan shall be converted into a Prime Rate Loan or a Fixed Rate Loan...

Disaster. Notwithstanding anything to the contrary herein, if the Bank Agent determines (which determination shall be conclusive) that: (1) Quotations of interest rates for the relevant deposits referred to in the definition of LIBOR Interest Rate, are not being provided in the relevant amounts or for the relative maturities for purposes of determining the rate of interest on a LIBOR or Cost of Funds Loan as provided in this Agreement; or (2) The If the Majority Banks determine (which determination shall be conclusive) that the relevant rates of interest referred to in the definition of LIBOR Interest Rate, upon the basis of which the rate of interest for any such type of loan Loan is to be determined do not accurately cover the cost to the Bank Banks of making or maintaining such type of Loans; then the Bank Agent shall forthwith give notice thereof to the Borrower, whereupon (a) the obligation of the Bank Banks to make LIBOR Loans, shall be suspended until the Bank Agent notifies the Borrower that the circumstances giving rise to such suspension no longer exist; , and (b) the Borrower shall repay in full the then outstanding principal amount of each LIBOR Loan Loan, together with accrued interest thereon, on the last day of the then current Interest Period applicable to such Loan, or at the option of Borrower such Loan shall be converted into a Prime Rate Loan or a Fixed Rate Loan...

Disaster. Notwithstanding anything to the contrary herein, if the Bank determines (which determination shall be conclusive) that: (1i) Quotations of interest rates for the relevant deposits referred to in the definition of LIBOR LIBO Interest Rate, Rate are not being provided in the relevant amounts or for the relative maturities for the purposes of determining the rate of interest on a LIBOR or Cost of Funds Loan as provided in this Agreement; or (2ii) The relevant rates of interest referred to in the definition of LIBOR LIBO Interest Rate, upon the basis of which the rate of interest for any such type of loan Loan is to be determined do determined, does not accurately cover the cost to the Bank of making or maintaining such type of Loans; then the Bank shall forthwith give notice thereof to the Borrower, whereupon (a) the obligation of the Bank to make LIBOR Loans, shall be suspended until the Bank notifies the Borrower that the circumstances giving rise to such suspension no longer exist, (a) the obligation of the Bank to make LIBOR Loans shall be suspended; and (b) the Borrower shall repay in full the then outstanding principal amount of each LIBOR Loan together with accrued interest thereonthereon shall be converted to a Prime Loan, on the last day of the then current Interest Period applicable to such Loan, or at the option of Borrower such Loan shall be converted into a Prime Rate Loan or a Fixed Rate Loan...