Common use of Eurodollar Rate Protection Clause in Contracts

Eurodollar Rate Protection. In the event that (a) the Agent shall have determined (which determination shall be conclusive and binding upon the Borrowers) that for any reason adequate and reasonable means do not exist for ascertaining the Eurodollar Rate for any requested Interest Period with respect to a proposed Loan that a Borrower has requested be made as a Eurodollar Rate Loan, or (b) the Agent shall have determined (which determination shall be conclusive and binding upon the Borrowers) that the Eurodollar Rate applicable for any requested Interest Period with respect to a proposed Loan that a Borrower has requested be made as a Eurodollar Rate Loan does not adequately and fairly reflect the cost to such Bank of funding such Loan, the Agent shall forthwith give notice of such determination to the Company and each Bank at least one day prior to the proposed borrowing date for such Eurodollar Rate Loan. If such notice is given, any requested Eurodollar Rate Loan shall be made as a Base Rate Loan. Until such notice has been withdrawn by the Agent, no further Eurodollar Rate Loans may be requested by the Borrowers and on the Interest Payment Date of any Eurodollar Rate Loan then outstanding and so affected such outstanding Loan shall be converted into a Base Rate Loan.

Eurodollar Rate Protection. In the event that (a) the Agent shall have determined (which determination shall be conclusive and binding upon the Borrowers) that for any reason adequate and reasonable means do not exist for ascertaining the Eurodollar Rate for any requested Interest Period with respect to a proposed Loan that a Borrower has requested be made as a Eurodollar Rate Loan, or (b) the Agent shall have determined (which determination shall be conclusive and binding upon the Borrowers) that the Eurodollar Rate applicable pursuant to Section 2.9 for any requested Interest Period with respect to a proposed Loan that a Borrower has requested be made as a Eurodollar Rate Loan does not adequately and fairly reflect the cost to such Bank of funding such Loan, the Agent shall forthwith give notice of such determination to the Company and each Bank at least one day prior to the proposed borrowing date for such Eurodollar Rate Loan. If such notice is given, any requested Eurodollar Rate Loan shall be made as a Base Rate Loan. Until such notice has been withdrawn by the Agent, no further Eurodollar Rate Loans may be requested by the Borrowers and on the Interest Payment Date of any Eurodollar Rate Loan then outstanding and so affected such outstanding Loan shall be converted into a Base Rate Loan.

Eurodollar Rate Protection. In the event that (a) the Agent Majority Banks shall have determined (which determination shall be conclusive and binding upon the BorrowersBorrower) that for any reason adequate and reasonable means do not exist for ascertaining the Eurodollar Rate applicable for any requested Interest Period with respect to a proposed Loan that a the Borrower has requested be made as a Eurodollar Rate Loan, Loan or (b) the Agent Majority Banks shall have determined determine (which determination shall be conclusive and binding upon the BorrowersBorrower) that the Eurodollar Rate applicable for any requested Interest Period with respect to a proposed Loan that a the Borrower has requested be made as a Eurodollar Rate Loan does do not adequately and fairly reflect the cost to such the Bank of funding such Loan, the Agent shall forthwith give telex or facsimile notice of such determination to the Company Borrower and each Bank at least one day prior to the proposed borrowing date for such Eurodollar Rate Loan. If such notice is given, any requested Eurodollar Rate Loan shall be made as a Base Rate Loan. Until such notice has been withdrawn by the Agent, no further Eurodollar Rate Loans may be requested by the Borrowers Borrower and on the Interest Payment Date of any Eurodollar Rate Loan then outstanding and so affected affected, such outstanding Eurodollar Rate Loan shall be converted into a Base Rate Loan.