Eurodollar Rate Basis Determination Clause Samples
The Eurodollar Rate Basis Determination clause defines how the interest rate for Eurodollar-based loans or financial instruments is calculated. Typically, this involves referencing a specific benchmark rate, such as LIBOR, and may include adjustments for reserve requirements or other factors. This clause ensures that both parties have a clear and agreed-upon method for determining the applicable interest rate, thereby reducing ambiguity and potential disputes over payment calculations.
Eurodollar Rate Basis Determination. Notwithstanding anything contained herein which may be construed to the contrary, if with respect to any proposed Eurodollar Advance for any Eurodollar Advance Period, the Administrative Agent determines that deposits in Dollars (in the applicable amount) are not being offered to leading banks in the London interbank market for such Eurodollar Advance Period, the Administrative Agent shall forthwith give notice thereof to the Administrative Borrower and the Lenders, whereupon until the Administrative Agent notifies the Administrative Borrower that the circumstances giving rise to such situation no longer exist, the obligations of the Lenders to make Eurodollar Advances shall be suspended.
Eurodollar Rate Basis Determination. Notwithstanding anything contained in this Agreement which may be construed to the contrary, if with respect to any proposed Eurodollar Advance for any Eurodollar Advance Period, the Administrative Agent determines (which determination shall be conclusive absent manifest error) that (a) adequate and reasonable means do not exist for ascertaining the Eurodollar Rate for such Eurodollar Advance Period or (b) is advised in writing by the Majority Lenders that the Eurodollar Basis for such Eurodollar Advance Period will not adequately and fairly reflect the cost to the Lenders of making or maintaining the Loan for such Eurodollar Advance Period, the Administrative Agent shall forthwith give notice thereof to the Borrower and the Lenders, whereupon until the Administrative Agent notifies the Borrower that the circumstances giving rise to such situation no longer exist, the obligations of the Lenders to make Eurodollar Advances shall be suspended.
Eurodollar Rate Basis Determination. Notwithstanding anything contained herein which may be construed to the contrary, if with respect to any proposed Eurodollar Rate Advance for any Eurodollar Advance Period, the Agent determines that deposits in dollars (in the applicable amount) are not being offered to the Agent in the relevant market for such Eurodollar Advance Period, the Agent shall forthwith give notice thereof to the Borrower and the Lenders, whereupon until the Agent notifies the Borrower that the circumstances giving rise to such situation no longer exist, the obligations of the Lenders to make such types of Eurodollar Rate Advances shall be suspended.
Eurodollar Rate Basis Determination. Notwithstanding anything contained herein which may be construed to the contrary, if with respect to any proposed Eurodollar Rate Advance for any Eurodollar Advance Period, the Administrative Agent determines that deposits in dollars (in the applicable amount) are not being offered to the Administrative Agent in the relevant market for such Eurodollar Advance Period, the Administrative Agent shall forthwith give notice thereof to the Borrowers and the Lenders, whereupon until the Administrative Agent notifies the Borrowers that the circumstances giving rise to such situation no longer exist, the obligations of the Lenders to make such types of Eurodollar Rate Advances shall be suspended.
Eurodollar Rate Basis Determination. Notwithstanding anything contained herein which may be construed to the contrary, if with respect to any proposed Eurodollar Advance, the Administrative Agent (a) determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining the Eurodollar Rate for such Eurodollar Advance or (b) is advised by the Majority Lenders that the Eurodollar Basis for such Eurodollar Advance will not adequately and fairly reflect the cost to the Lenders of making or maintaining such Eurodollar Advance, the Administrative Agent shall forthwith give notice thereof to Camping World and the Lenders, whereupon until the Administrative Agent notifies Camping World that the circumstances giving rise to such situation no longer exist, the obligations of the Lenders to make or continue, or convert Base Rate Advances into, Eurodollar Advances shall be suspended until the circumstances giving rise to such situation no longer exist.”
Eurodollar Rate Basis Determination. Notwithstanding anything contained herein which may be construed to the contrary, if with respect to any proposed Eurodollar Loan for any Eurodollar Loan Period, the applicable Administrative Agent (a) determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining the Eurodollar Rate, EURIBOR Rate or GBP LIBOR Rate, as applicable, for such Eurodollar Loan Period or (b) is advised by the Majority Lenders that the Eurodollar Basis for such Eurodollar Loan Period will not adequately and fairly reflect the cost to the Lenders of making or maintaining the Loans for such Eurodollar Loan Period, such Administrative Agent shall forthwith give notice thereof to the Administrative Borrower and the Lenders, whereupon until such Administrative Agent notifies the Administrative Borrower that the circumstances giving rise to such situation no longer exist, the obligations of the Lenders to make Eurodollar Loans shall be suspended, and any such Revolving Eurodollar Loan denominated in Euros or Sterling shall be redenominated and converted into, on the last day of the Eurodollar Loan Period applicable thereto, a Revolving Loan accruing interest at the Base Rate Loan in an amount equal to the U.S. Dollar Equivalent thereof.
Eurodollar Rate Basis Determination. Notwithstanding anything contained herein which may be construed to the contrary, if with respect to any proposed Eurodollar Loan for any Interest Period, the Agent determines that deposits in dollars (in the applicable amount) are not being offered to the Agent in the relevant market for such Interest Period, the Agent shall forthwith give notice to the Co-Borrowers and the Banks, whereupon until the Agent notifies the Co- Borrowers that the circumstances giving rise to such situation no longer exist, the obligations of the Banks to make such types of Eurodollar Loans shall be suspended.