Common use of Failure of a Reference Bank to supply a rate Clause in Contracts

Failure of a Reference Bank to supply a rate. If LIBOR is to be calculated by reference to the Reference Banks but if a Reference Bank does not supply a rate by 11.00 a.m. on the second London Business Day before the first day of the relevant Term, the applicable LIBOR will, subject as provided below, be calculated on the basis of the rates of the remaining Reference Banks.

Failure of a Reference Bank to supply a rate. If LIBOR is to be calculated by reference to the Reference Banks but if a Reference Bank does not supply a rate by 11.00 a.m. 12.00 noon on the second London Business Day before the first day of the relevant Terma Rate Fixing Day, the applicable LIBOR will, subject as provided below, be calculated on the basis of the rates of the remaining Reference Banks.

Failure of a Reference Bank to supply a rate. If LIBOR is to be calculated by reference to the Reference Banks but if a Reference Bank does not supply a rate by 11.00 a.m. 12.00 noon (London time) on the second London Business Day before the first day of the relevant Terma Rate Fixing Day, the applicable LIBOR will, subject as provided below, be calculated on the basis of the rates of the remaining Reference Banks.

Failure of a Reference Bank to supply a rate. If LIBOR is to be calculated by reference to the Reference Banks but if a Reference Bank does not supply a rate by 11.00 11 a.m. (London time) on the second London Business Day before the first day of the relevant Terma Rate Fixing Day, the applicable LIBOR will, subject as provided below, be calculated on the basis of the rates of the remaining Reference Banks.

Failure of a Reference Bank to supply a rate. If LIBOR is to be calculated determined by reference to the Reference Banks but if a Reference Bank does not supply a rate by 11.00 a.m. on the second 12.00 noon (London Business Day time) two (2) London Quotation Days before the first day of the relevant Terman Interest Period for a Floating Rate Senior Loan, the applicable LIBOR willshall, subject as provided belowto the terms of Clause 10.2 (Market Disruption), be calculated determined on the basis of the rates quotations of the remaining Reference Banks.