Common use of Inability to Determine Eurodollar Rate Clause in Contracts

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the Lenders) to the Borrower and the Lenders. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (c) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower and the Lenders.

Appears in 9 contracts

Samples: Revolving Credit Agreement (Coach Inc), Revolving Credit and Term Loan Agreement (Emmis Communications Corp), Revolving Credit and Term Loan Agreement (Emmis Communications Corp)

AutoNDA by SimpleDocs

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders Majority Banks that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBanks) to the Borrower and the LendersBanks. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (c) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine Majority Banks determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required LendersMajority Banks, shall so notify the Borrower and the LendersBanks.

Appears in 8 contracts

Samples: Revolving Credit and Term Loan Agreement (Western Digital Corp), Revolving Credit Agreement (Stage Stores Inc), Revolving Credit Agreement (Republic Engineered Steels Inc)

Inability to Determine Eurodollar Rate. In If any Reference Bank -------------------------------------- determines (which determination shall be made in good faith and shall be conclusive and binding upon Borrower) that (a) by reason of circumstances then affecting the eventEurodollar interbank market, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders that adequate and reasonable methods means do not or will not exist for ascertaining the Eurodollar Rate that would otherwise determine the interest rate of interest to be applicable to any Eurodollar Rate Loan during any Loans, or (b) Dollar deposits in the relevant amounts and for the relevant Interest PeriodPeriod are not available to the Banks in the Eurodollar interbank market, then it shall notify the Administrative Agent who shall forthwith give written notice of such determination (which shall be conclusive and binding on the to Borrower and the Lenders) each Bank at least one Business Day prior to the Borrower and the Lenders. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last first day of the then current any Interest Period relating theretoso affected; whereupon, become a Base Rate Loan, and (c) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine shall notify Borrower that the circumstances giving rise to such suspension no longer exist, whereupon (i) the obligations of the Banks to make Eurodollar Loans shall be suspended and (ii) Borrower shall repay in full, without premium or penalty, the then outstanding principal amount of the Eurodollar Loans, together with accrued interest thereon, on the last day of the then current Interest Period pursuant to the next sentence. Unless Borrower notifies Administrative Agent orto the contrary within one Business Day after receiving a notice from Administrative Agent pursuant to this Section, as Borrower shall, concurrently with prepaying the case may beEurodollar Loans pursuant to this Section, be deemed automatically without any further notice to Administrative Agent or the Banks to have requested and received Base Rate Loans in an equal principal amount from the Banks, the Administrative Agent upon proceeds of which are deemed to have been used to repay the instruction of the Required Lenders, shall so notify the Borrower and the Lendersother Loans.

Appears in 6 contracts

Samples: Credit Agreement (Hughes Electronics Corp), Revolving Credit Agreement (Hughes Electronics Corp), Revolving Credit Agreement (Hughes Electronics Corp)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders that (a) adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest PeriodPeriod or (b) the Eurodollar Rate determined or to be determined for such Interest Period will not adequately and fairly reflect the cost to the Lenders of making or maintaining their Eurodollar Rate Loans during such period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower Borrowers and the Lenders) to the Borrower Borrowers and the Lenders. In such event (ai) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (bii) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (ciii) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower Borrowers and the Lenders.

Appears in 5 contracts

Samples: Revolving Credit Agreement (McCormick & Schmick Holdings, L.L.C.), Revolving Credit Agreement (McCormick & Schmicks Seafood Restaurants Inc.), Revolving Credit and Term Loan Agreement (Iesi Corp)

Inability to Determine Eurodollar Rate. In the event, prior to the -------------------------------------- commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders in accordance with its standard commercial practice that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBanks) to the Borrower and the LendersBanks. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (c) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine determines in accordance with its standard commercial practice that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower and the LendersBanks.

Appears in 5 contracts

Samples: Revolving Credit and Term Loan Agreement (Mapics Inc), Revolving Credit and Term Loan Agreement (Mapics Inc), Revolving Credit and Term Loan Agreement (Mapics Inc)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders Majority Banks that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBanks) to the Borrower and the LendersBanks. In such event (ai) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (bii) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (ciii) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower and the LendersBanks.

Appears in 4 contracts

Samples: Revolving Credit Agreement (Hadco Acquisition Corp), Revolving Credit Agreement (Hadco Acquisition Corp Ii), Revolving Credit Agreement (Hadco Corp)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall reasonably determine or be notified by the Required Lenders that (a) adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest PeriodPeriod or (b) the Eurodollar Rate determined or to be determined for such Interest Period will not adequately and fairly reflect the cost to the Lenders of making or maintaining their Eurodollar Rate Loans during such period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the Lenders) to the Borrower and the Lenders. In such event (ai) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (bii) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (ciii) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower and the Lenders.

Appears in 4 contracts

Samples: Revolving Credit and Term Loan Agreement (CAI International, Inc.), Revolving Credit and Term Loan Agreement (CAI International, Inc.), Revolving Credit and Term Loan Agreement (CAI International, Inc.)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the Lenders) to the Borrower and the Lenders. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Prime Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Prime Rate Loan, and (c) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower and the Lenders.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Coach Inc), Revolving Credit Agreement (Coach Inc), Revolving Credit Agreement (Coach Inc)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall reasonably determine or be notified by the Required Lenders that (a) adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest PeriodPeriod or (b) the Eurodollar Rate determined or to be determined for such Interest Period will not adequately and fairly reflect the cost to the Lenders of making or maintaining their Eurodollar Rate Loans during such period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the Lenders) to the Borrower and the Lenders. In such event (ai) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (bii) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (ciii) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower Loan Parties and the Lenders.

Appears in 3 contracts

Samples: Revolving Credit Agreement (CAI International, Inc.), Revolving Credit Agreement (CAI International, Inc.), Revolving Credit Agreement (CAI International, Inc.)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders Majority Banks that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBanks) to the Borrower and the LendersBanks. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (c) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders Majority Banks, as applicable, determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required LendersMajority Banks, shall so notify the Borrower and the LendersBanks.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Staples Inc), Revolving Credit Agreement (Staples Inc), Revolving Credit Agreement (Staples Inc)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders Majority Banks that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBanks) to the Borrower and the LendersBanks. In such event (a) any Revolving Credit Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (c) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders Majority Banks determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required LendersMajority Banks, shall so notify the Borrower and the LendersBanks.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Restaurant Co), Revolving Credit Agreement (Perkins Finance Corp)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the Lenders) to the Borrower and the Lenders. In such event the Administrative Agent shall notify the Borrower that (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Prime Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Prime Rate Loan, and (c) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower and the Lenders.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Timberland Co), Revolving Credit Agreement (Timberland Co)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Majority Lenders that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower Borrowers and the Lenders) to the Borrower Borrowers and the Lenders. In such event (ai) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (bii) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (ciii) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Majority Lenders determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Majority Lenders, shall so notify the Borrower Borrowers and the Lenders.

Appears in 2 contracts

Samples: Revolving Credit and Term Loan Agreement (Century Aluminum Co), Revolving Credit Agreement (Century Aluminum Co)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders Majority Banks that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower Borrowers and the LendersBanks) to the Borrower Borrowers and the LendersBanks. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (c) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders Majority Banks determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required LendersMajority Banks, shall so notify the Borrower Borrowers and the LendersBanks.

Appears in 2 contracts

Samples: Loan Agreement (Metallurg Inc), Revolving Credit Agreement (Terex Corp)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders Banks that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBanks) to the Borrower and the LendersBanks. In such event (ai) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (bii) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (ciii) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine Banks determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required LendersBanks, shall so notify the Borrower and the LendersBanks.

Appears in 2 contracts

Samples: Revolving Credit and Term Loan Agreement (Hvide Marine Inc), Revolving Credit Agreement (Hvide Marine Inc)

Inability to Determine Eurodollar Rate. In the event, If prior to the commencement first -------------------------------------- day of any Interest Period relating to any Eurodollar Rate Loan, Period: (a) the US Administrative Agent shall determine or have determined (which determination shall be notified prima facie evidence of the accuracy thereof) that, by reason of circumstances affecting the Required Lenders that relevant market, adequate and reasonable methods means do not exist for ascertaining the Eurodollar Rate for such Interest Period, or (b) the US Administrative Agent shall have received notice from the Required US$ Lenders that would otherwise determine the rate of interest Eurodollar Rate determined or to be applicable determined for such Interest Period will not adequately and fairly reflect the cost to any Eurodollar Rate Loan such US$ Lenders (as conclusively certified by such US$ Lenders) of making or maintaining their affected Loans during any such Interest Period, the US Administrative Agent shall forthwith give telecopy or telephonic notice (to be confirmed in writing) thereof to the Company and the US$ Lenders as soon as practicable thereafter. If such notice is given (x) any Eurodollar Loans requested to be made on the first day of such determination (which Interest Period shall be conclusive and binding on the Borrower and the Lenders) to the Borrower and the Lenders. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for made as Base Rate Loans, (by) each any Base Rate Loans that were to have been converted on the first day of such Interest Period to Eurodollar Loans shall be converted to or continued as Base Rate Loan will automaticallyLoans and (z) any outstanding Eurodollar Loans shall be converted, on the last first day of the then current such Interest Period relating theretoPeriod, become a to Base Rate LoanLoans. Until such notice has been withdrawn by the US Administrative Agent, and (c) the obligations of the Lenders to make no further Eurodollar Rate Loans shall be suspended until made or continued as such, nor shall the Administrative Agent or Company have the Required Lenders determine that the circumstances giving rise right to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower and the Lendersconvert Loans to Eurodollar Loans.

Appears in 2 contracts

Samples: Credit Agreement (Pierce Leahy Corp), Credit Agreement (Pierce Leahy Corp)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Majority Lenders that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the Lenders) to the Borrower and the Lenders. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (c) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Majority Lenders determine determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Majority Lenders, shall so notify the Borrower and the Lenders.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Republic Technologies International Holdings LLC), Revolving Credit Agreement (Blue Steel Capital Corp)

Inability to Determine Eurodollar Rate. In the eventevent that, prior --------- -- --------- ---------- ---- to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower Company and the LendersBanks) to the Borrower Company and the LendersBanks. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, unless the Agent has received timely notice of the Company's intent to prepay such Eurodollar Rate Loan or any portion thereof pursuant to (S)2.9, and (c) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower Company and the LendersBanks. Neither the Agent nor any Bank shall in any event be responsible to the Company in any way if it is not able for any reason beyond its control to quote a Eurodollar Rate with respect to any proposed Interest Period.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Sterling Software Inc), Revolving Credit and Term Loan Agreement (Sterling Commerce Inc)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan or Competitive Bid Eurodollar Loan, the Administrative Agent shall determine or be notified by the Required Lenders that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan or Competitive Bid Eurodollar Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBanks) to the Borrower and the LendersBanks. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans or Competitive Bid Eurodollar Loans shall be automatically withdrawn and shall be deemed a request for Alternative Base Rate Loans, (b) each Eurodollar Rate Loan Loans or Competitive Bid Eurodollar Loans will automatically, on the last day of the then current Interest Period relating thereto, become a an Alternative Base Rate Loan, and (c) the obligations of the Lenders Banks to make Eurodollar Rate Loans or Competitive Bid Eurodollar Loans shall be suspended until the Administrative Agent or the Required Lenders determine determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower and the LendersBanks.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Alliance Capital Management Lp Ii), Revolving Credit Agreement (Alliance Capital Management Lp)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders Majority Banks that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBanks) to the Borrower and the LendersBanks. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating theretothereof, become a Base Rate Loan, and (c) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders Majority Banks determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required LendersMajority Banks, shall so notify the Borrower and the LendersBanks.

Appears in 2 contracts

Samples: Revolving Credit and Term Loan Agreement (Emmis Communications Corp), Revolving Credit and Term Loan Agreement (Emmis Communications Corp)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, event the Administrative Agent shall determine or be notified by the Required Lenders that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBorrower) to the Borrower and at least one (1) Business Day before the Lendersfirst day of such Interest Period. In such event event, (a) any Loan Request or Conversion Continuation Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loanswithdrawn, (b) each the Borrower and the Lenders shall negotiate in good faith to agree on an alternative interest rate which is reasonably equivalent to the Eurodollar Rate Loan will automaticallyRate; provided, however, that if the Borrower and the Lenders are unable to agree on such alternative interest rate prior to the last day of the then current Interest Period relating theretoPeriod, become each Eurodollar Rate Loan then outstanding will, as of the last day of the then current Interest Period, bear interest at a per annum rate equal to the Base Rate Loanin effect from time to time payable in arrears on the last day of each fiscal quarter of the Borrower, and (c) the obligations of the Lenders to make additional Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower and the Lenders.

Appears in 2 contracts

Samples: Revolving Credit Agreement (United States Cellular Corp), Revolving Credit Agreement (United States Cellular Corp)

Inability to Determine Eurodollar Rate. In the event, prior to the -------------------------------------- commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders Majority Banks that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBanks) to the Borrower and the LendersBanks. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (c) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine Majority Banks determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required LendersMajority Banks, shall so notify the Borrower and the LendersBanks.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Ameriking Inc), Acquisition Revolving Credit Agreement (Ameriking Inc)

Inability to Determine Eurodollar Rate. In the event, If prior to the commencement of any Interest Period relating to for any Eurodollar Rate Loan, (x) the Administrative Agent shall determine or have determined (which determination shall be notified conclusive and binding upon the Borrower) that, by reason of circumstances affecting the Required Lenders that relevant interbank market, adequate and reasonable methods means do not exist for ascertaining the Eurodollar Rate for such Interest Period, or (y) the Administrative Agent shall have received notice from the Required Lenders that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any does not adequately and fairly reflect the cost to such Lenders (or Lender, as the case may be) of making, funding or maintaining their (or its, as the case may be) Eurodollar Rate Loans for such Interest Period, the Administrative Agent shall forthwith give written notice of such determination (which shall be conclusive and binding on the Borrower and the Lendersor telephonic notice, promptly confirmed in writing) to the Borrower and to the LendersLenders as soon as practicable thereafter. In the case of Eurodollar Rate Loans, until the Administrative Agent shall notify the Borrower and the Lenders that the circumstances giving rise to such event notice no longer exist, (ai) any Loan Request the obligations of the Lenders to continue or Conversion Request with respect to convert outstanding Term Loans as or into Eurodollar Rate Loans shall be automatically withdrawn suspended and (ii) all such affected Eurodollar Rate Loans shall be deemed a request for converted into Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, Loans on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (c) applicable thereto unless the obligations of the Lenders to make Borrower prepay such Eurodollar Rate Loans shall be suspended until in accordance with this Loan Agreement. Upon request from Borrower, during a period when the Administrative Agent or the Required Lenders determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may beEurodollar Rate Loans are not available, the Administrative Agent upon shall use its commercially reasonable best efforts to re-evaluate whether the instruction of the Required Lendersreasons that Eurodollar Rate Loans became unavailable continue to apply and, if such reasons no longer apply, shall so promptly notify the Borrower and the Lendersthereof.

Appears in 2 contracts

Samples: Term Loan Agreement (CAI International, Inc.), Term Loan Agreement (CAI International, Inc.)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders Majority Banks that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBanks) to the Borrower and the LendersBanks. In such event (ai) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (bii) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate LoanLoan unless the Agent has received timely notice of the Borrower's intent to prepay such Eurodollar Rate Loan or any portion thereof pursuant to Section 3.3, and (ciii) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders Majority Banks determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required LendersMajority Banks, shall so notify the Borrower and the LendersBanks.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Michaels Stores Inc), Revolving Credit Agreement (Michaels Stores Inc)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders Majority Banks that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower Borrowers and the LendersBanks) to the Borrower Borrowers and the LendersBanks. In such event (ai) any Revolving Credit Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (bii) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (ciii) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders Majority Banks determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required LendersMajority Banks, shall so notify the Borrower Borrowers and the LendersBanks.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Dave & Busters Inc)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice at least one (1) Business Day prior to the requested Drawdown Date of such Eurodollar Rate Loan of such determination (which shall be conclusive and binding on the Borrower and the LendersBanks) to the Borrower and the LendersBanks. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating theretothereof, become a Base Rate Loan, and (c) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower and the LendersBanks.

Appears in 1 contract

Samples: Revolving Credit Agreement (Freedom Securiteis Corp /De/)

Inability to Determine Eurodollar Rate. In If any Reference Bank -------------------------------------- determines (which determination shall be made in Good Faith and shall be conclusive and binding upon the eventObligors that (i) by reason of circumstances then affecting the Eurodollar interbank market, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders that adequate and reasonable methods means do not or will not exist for ascertaining the Eurodollar Rate that would otherwise determine the interest rate of interest to be applicable to any Eurodollar Rate Loan during any Loans, or (ii) Dollar deposits in the relevant amounts and for the relevant Interest PeriodPeriod are not available to the Banks in the Eurodollar interbank market, then it shall notify the Administrative Agent who shall forthwith give written notice of such determination (which shall be conclusive and binding on the to Borrower and the Lenderseach Bank at least one (1) Business Day prior to the Borrower and the Lenders. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last first day of the then current any Interest Period relating theretoso affected; whereupon, become a Base Rate Loan, and (c) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine shall notify Borrower that the circumstances giving rise to such suspension no longer exist, whereupon (x) the obligations of the Banks to make Eurodollar Loans shall be suspended and (y) the Obligors shall repay in full, without premium or penalty, the then outstanding principal amount of the Eurodollar Loans, together with accrued interest thereon, on the last day of the then current Interest Period pursuant to the next sentence. Unless an Obligor notifies Administrative Agent orto the contrary within one (1) Business Day after receiving a notice from Administrative Agent pursuant to this Section, as an Obligor shall, concurrently with repaying the case may beEurodollar Loans pursuant to this Section, be deemed automatically without any further notice to Administrative Agent or the Banks to have requested and received Reference Rate Loans in an equal principal amount from the Banks, the Administrative Agent upon proceeds of which are deemed to have been used to repay the instruction of the Required Lenders, shall so notify the Borrower and the Lendersother Loans.

Appears in 1 contract

Samples: Credit Agreement (Hughes Electronics Corp)

Inability to Determine Eurodollar Rate. In Notwithstanding any other provision of this Agreement, if (a) the eventintroduction of, prior any change in, or any change in the interpretation of, any law or regulation applicable to any Bank or the commencement Agent shall make it unlawful, or any central bank or other governmental authority having jurisdiction thereof shall assert that it is unlawful, for any Bank or the Agent to perform its obligations in respect of any Interest Period relating Eurodollar Loans, or (b) if any Bank or the Agent shall reasonably determine with respect to Eurodollar Loans that (i) by reason of circumstances affecting any Eurodollar Rate Loaninterbank market, the Administrative Agent shall determine or be notified by the Required Lenders that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that which would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, or (ii) deposits of Dollars in the Administrative relevant amount for the relevant Interest Period are not available to such Bank or the Agent in any Eurodollar interbank market, or (iii) the Eurodollar Rate does not or will not accurately reflect the cost to such Bank or the Agent of obtaining or maintaining the applicable Eurodollar Loans during any Interest Period, then such Bank or the Agent shall forthwith promptly give telephonic, telex or cable notice of such determination to the Borrowers (which notice shall be conclusive and binding on upon the Borrower Borrowers). Upon such notification by such Bank or the Agent, the obligation of the Banks and the Lenders) to the Borrower and the Lenders. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (c) the obligations of the Lenders Agent to make Eurodollar Rate Loans shall be suspended until the Administrative Agent Banks or the Required Lenders determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent orAgent, as the case may be, determine that such circumstances no longer exist, and to the Administrative Agent upon extent permitted by law the instruction outstanding Eurodollar Loans shall continue to bear interest at the applicable rate based on the Eurodollar Rate until the end of the Required Lendersapplicable Interest Period, and thereafter shall so notify the Borrower and the Lendersbe deemed converted to Base Rate Loans in equal principal amounts.

Appears in 1 contract

Samples: Revolving Credit Agreement (Eastern Environmental Services Inc)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall reasonably determine or be notified by the Required Lenders that (a) adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest PeriodPeriod or (b) the Eurodollar Rate determined or to be determined for such Interest Period will not adequately and fairly reflect the cost to the Lenders of making or maintaining their Eurodollar Rate Loans during such period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the Lenders) to the Borrower and the Lenders. In Following such event notice (ai) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (bii) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (ciii) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower and the Lenders.

Appears in 1 contract

Samples: Term Loan Agreement (CAI International, Inc.)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Managing Agent shall determine or be notified by the Required Lenders Majority Banks that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Managing Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBanks) to the Borrower and the LendersBanks. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating theretothereof, become a Base Rate Loan, and (c) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Managing Agent or the Required Lenders Majority Banks determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Managing Agent or, as the case may be, the Administrative Managing Agent upon the instruction of the Required LendersMajority Banks, shall so notify the Borrower and the LendersBanks.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Emmis Broadcasting Corporation)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Majority Lenders that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower Borrowers and the Lenders) to the Borrower Borrowers and the Lenders. In such event (a) any Domestic Revolver Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (c) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Majority Lenders determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower Borrowers and the Lenders.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Russell-Stanley Holdings Inc)

Inability to Determine Eurodollar Rate. In the event, prior to the -------------------------------------- commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders Banks that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBanks) to the Borrower and the LendersBanks. In such event (ai) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (bii) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (ciii) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine Banks determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower and the LendersBanks.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Chart House Enterprises Inc)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate LoanLoans, the Administrative Agent Lender shall determine or be notified by the Required Lenders that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan Loan, or that the Eurodollar Rate will not adequately reflect the cost to the Lender of making, funding or maintaining their Eurodollar Rate Loans, during any Interest Period, the Administrative Agent Lender shall forthwith give notice Notice of such determination (which shall be conclusive and binding on the Borrower and the LendersLender) to the Borrower and the LendersLender. In such event (a) any Loan Request or Conversion Request Interest Rate Notice with respect to Eurodollar Rate Loans shall be automatically withdrawn and any Interest Rate Notice shall be deemed to be a request for a Base Rate LoansLoan, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating theretothereof, become a Base Rate Loan, and (c) the obligations obligation of the Lenders Lender to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine Lender determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, Lender shall so notify the Borrower and the LendersBorrower.

Appears in 1 contract

Samples: Term Loan Agreement (Nextera Energy Inc)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders Majority Banks that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBanks) to the Borrower and the LendersBanks. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) -16- each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (c) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders Majority Banks determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required LendersMajority Banks, shall so notify the Borrower and the LendersBanks.

Appears in 1 contract

Samples: Revolving Credit Agreement (Moore Medical Corp)

Inability to Determine Eurodollar Rate. In If the event, prior Required Lenders determine that for any reason in connection with any request for a Eurodollar Rate Loan or a conversion to or continuation thereof that (a) Dollar deposits are not being offered to banks in the commencement of any London interbank eurodollar market for the applicable amount and Interest Period relating to any of such Eurodollar Rate Loan, (b) adequate and reasonable means do not exist for determining the Eurodollar Base Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Loan or in connection with an existing or proposed Base Rate Loan, or (c) the Eurodollar Base Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Loan does not adequately and fairly reflect the cost to such Lenders of funding such Loan, the Administrative Agent shall determine or be notified by the Required Lenders that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on will promptly so notify the Borrower and each Lender. Thereafter, (x) the Lenders) obligation of the Lenders to the Borrower and the Lenders. In such event (a) any Loan Request make or Conversion Request with respect to maintain Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loansuspended, and (cy) in the obligations event of a determination described in the preceding sentence with respect to the Eurodollar Rate component of the Lenders to make Base Rate, the utilization of the Eurodollar Rate Loans component in determining the Base Rate shall be suspended suspended, in each case until the Administrative Agent or the Required Lenders determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent (upon the instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, shall so notify the Borrower and may revoke any pending request for a Borrowing of, conversion to or continuation of Eurodollar Rate Loans or, failing that, will be deemed to have converted such request into a request for a Committed Borrowing of Base Rate Loans in the Lendersamount specified therein.

Appears in 1 contract

Samples: Revolving Credit Agreement (Timberland Co)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Facility Agent shall reasonably determine or be notified by the Required Majority Lenders acting reasonably that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Facility Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the Lenders) to the Borrower and the Lenders. In such event (ai) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (bii) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (ciii) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Facility Agent or the Required Majority Lenders reasonably determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Facility Agent or, as the case may be, the Administrative Facility Agent upon the instruction of the Required Majority Lenders, shall so notify the Borrower and the Lenders.

Appears in 1 contract

Samples: Revolving Credit Agreement (Sassco Fashions LTD /De/)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the Lenders) to the Borrower and the Lenders. In such event (a) any Loan Request or Conversion Request with respect to a Eurodollar Rate Loans Loan shall be automatically withdrawn and shall be deemed a request for a Base Rate LoansLoan, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (c) the obligations of the Lenders to make a Eurodollar Rate Loans Loan shall be suspended until the Administrative Agent or the Required Lenders Lenders, as applicable, determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower and the Lenders.

Appears in 1 contract

Samples: 364 Day Term Loan Agreement (Staples Inc)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBanks) to the Borrower and the LendersBanks. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and and, unless a Federal Funds Rate Loan is elected by the Borrower pursuant to ss.2.6, shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (c) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine Majority Banks determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent Agent, or, as the case may be, the Administrative Agent upon the instruction of the Required LendersMajority Banks, shall so notify the Borrower and the LendersBanks.

Appears in 1 contract

Samples: Revolving Credit Agreement (Freedom Securities Corp /De/)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall in good faith determine or be notified by the Required Lenders that (a) adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest PeriodPeriod or (b) the Eurodollar Rate determined or to be determined for such Interest Period will not adequately and fairly reflect the cost to the Revolving Credit Lenders of making or maintaining their Eurodollar Rate Loans during such period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower Borrowers and the Revolving Credit Lenders) to the Borrower Borrowers’ Representative and the Revolving Credit Lenders. In such event (ai) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (bii) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (ciii) the obligations of the Revolving Credit Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower Borrowers’ Representative and the Revolving Credit Lenders.

Appears in 1 contract

Samples: Loan and Security Agreement (Fao Inc)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders that (a) adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest PeriodPeriod or (b) the Eurodollar Rate determined or to be determined for such Interest Period will not adequately and fairly reflect the cost to the Required Lenders of making or maintaining their Eurodollar Rate Loans during such period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the Lenders) to the Borrower and the Lenders. In such event (ai) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (bii) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (ciii) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower and the Lenders.

Appears in 1 contract

Samples: Revolving Credit Agreement (Keane Inc)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders Majority Banks that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBanks) to the Borrower and the LendersBanks. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate LoanLoan unless such Loan is prepaid on such date pursuant to Section 3.3 or Section 4.4, as applicable, and (c) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine Majority Banks determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required LendersMajority Banks, shall so notify the Borrower and the LendersBanks.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Aviall Inc)

Inability to Determine Eurodollar Rate. In the event-------------------------------------- event that, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders that (a) adequate and reasonable methods means do not exist for ascertaining determining the Eurodollar Base Rate for such Eurodollar Rate Loan, or (b) the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any (or Daily Rate, as applicable) for such Eurodollar Rate Loan during any Interest Perioddoes not adequately and fairly reflect the cost to the Banks of funding such Eurodollar Rate Loan, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBanks) to the Borrower and the LendersBanks. In such event (a) any the applicable Request for Loan Request or Notice of Continuation/Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, thereof become a Base Rate Federal Funds Loan, and (c) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower and the LendersBanks.

Appears in 1 contract

Samples: Credit Agreement (Cousins Properties Inc)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower Domestic Borrowers and the U.S. Lenders) to the Borrower Domestic Borrowers and the U.S. Lenders. In such event (ai) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (bii) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (ciii) the obligations of the U.S. Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower Domestic Borrowers and the LendersU.S. Lenders and the Domestic Borrowers shall thereafter have the right to elect Eurodollar Rate Loans hereunder.

Appears in 1 contract

Samples: Revolving Credit Agreement (Zale Corp)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall in good faith determine or be notified by the Required Lenders that (a) adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest PeriodPeriod or (b) the Eurodollar Rate determined or to be determined for such Interest Period will not adequately and fairly reflect the cost to the Revolving Credit Lenders of making or maintaining their Eurodollar Rate Loans during such period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower Borrowers and the Revolving Credit Lenders) to the Borrower Borrowers’ Representative and the Revolving Credit Lenders. In such event (ai) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (bii) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (ciii) the obligations of the Revolving Credit Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower Borrowers’ Representative and the Revolving Credit Lenders.

Appears in 1 contract

Samples: Revolving Credit, Tranche B Loan and Security Agreement (Mayors Jewelers Inc/De)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders Majority Banks that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBanks) to the Borrower and the LendersBanks. In such event (ai) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Prime Rate Loans, (bii) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating theretothereof, become a Base Prime Rate Loan, and (ciii) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders Majority Banks determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required LendersMajority Banks, shall so notify the Borrower and the LendersBanks.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Bell Sports Corp)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the Lenders) to the Borrower and the Lenders. In such event the Administrative Agent shall notify the Borrower that (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (c) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower and the Lenders.

Appears in 1 contract

Samples: Revolving Credit Agreement (Timberland Co)

AutoNDA by SimpleDocs

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall reasonably determine or be notified by the Required Lenders that (a) adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest PeriodPeriod or (b) the Eurodollar Rate determined or to be determined for such Interest Period will not adequately and fairly reflect the cost to the Lenders of making or maintaining their Eurodollar Rate Loans during such period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower Borrowers and the Lenders) to the Borrower Borrowers and the Lenders. In such event (ai) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (bii) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (ciii) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower Borrowers and the Lenders.

Appears in 1 contract

Samples: Revolving Credit Agreement (CAI International, Inc.)

Inability to Determine Eurodollar Rate. In If the event, prior Required Banks determine that for any reason in connection with any request for a Eurodollar Rate Loan or a conversion thereto or continuation thereof that (a) Dollar deposits are not being offered to banks in the commencement of any London interbank eurodollar market for the applicable amount and Interest Period relating to any of such Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders that (b) adequate and reasonable methods means do not exist for ascertaining determining the Eurodollar Rate that would otherwise determine the rate of interest for any requested Interest Period with respect to be applicable to any a proposed Eurodollar Rate Loan during or in connection with an existing or proposed Base Rate Loan, or (c) the Eurodollar Rate for any requested Interest PeriodPeriod with respect to a proposed Eurodollar Rate Loan does not adequately and fairly reflect the cost to such Banks of funding such Loan, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on will promptly so notify the Borrower and each Bank. Thereafter, (x) the Lenders) obligation of the Banks to the Borrower and the Lenders. In such event (a) any Loan Request make or Conversion Request with respect maintain, or to convert Loans to, Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loansuspended, and (cy) in the obligations event of a determination described in the preceding sentence with respect to the Eurodollar Rate component of the Lenders to make Base Rate, the utilization of the Eurodollar Rate Loans component in determining the Base Rate shall be suspended suspended, in each case until the Administrative Agent or the Required Lenders determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent (upon the instruction of the Required LendersBanks) revokes such notice. Upon receipt of such notice, shall so notify the Borrower and may revoke any pending request for a Borrowing of, conversion to or continuation of Eurodollar Rate Loans or, failing that, will be deemed to have converted such request into a request for Base Rate Loans in the Lendersamount specified therein.

Appears in 1 contract

Samples: Revolving Credit Agreement (Boston Properties LTD Partnership)

Inability to Determine Eurodollar Rate. In If any Reference Bank -------------------------------------- determines (which determination shall be made in Good Faith and shall be conclusive and binding upon the eventObligors) that (i) by reason of circumstances then affecting the Eurodollar interbank market, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders that adequate and reasonable methods means do not or will not exist for ascertaining the Eurodollar Rate that would otherwise determine the interest rate of interest to be applicable to any Eurodollar Rate Loan during any Loans, or (ii) Dollar deposits in the relevant amounts and for the relevant Interest PeriodPeriod are not available to the Banks in the Eurodollar interbank market, then it shall notify the Administrative Agent who shall forthwith give written notice of such determination (which shall be conclusive and binding on the to Borrower and the Lenderseach Bank at least one (1) Business Day prior to the Borrower and the Lenders. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last first day of the then current any Interest Period relating theretoso affected; whereupon, become a Base Rate Loan, and (c) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine shall notify Borrower that the circumstances giving rise to such suspension no longer exist, whereupon (x) the obligations of the Banks to make Eurodollar Loans shall be suspended and (y) the Obligors shall repay in full, without premium or penalty, the then outstanding principal amount of the Eurodollar Loans, together with accrued interest thereon, on the last day of the then current Interest Period pursuant to the next sentence. Unless an Obligor notifies Administrative Agent orto the contrary within one (1) Business Day after receiving a notice from Administrative Agent pursuant to this Section, as an Obligor shall, concurrently with repaying the case may beEurodollar Loans pursuant to this Section, be deemed automatically without any further notice to Administrative Agent or the Banks to have requested and received Reference Rate Loans in an equal principal amount from the Banks, the Administrative Agent upon proceeds of which are deemed to have been used to repay the instruction of the Required Lenders, shall so notify the Borrower and the Lendersother Loans.

Appears in 1 contract

Samples: Credit Agreement (Hughes Electronics Corp)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders Majority Banks that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower Borrowers and the LendersBanks) to the Borrower Borrowers and the LendersBanks. In such event (ai) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (bii) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (ciii) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders Majority Bank determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required LendersMajority Banks, shall so notify the Borrower Borrowers and the LendersBanks.

Appears in 1 contract

Samples: Revolving Credit Agreement (Transpro Inc)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate LoanAdvance, the Administrative Agent shall determine or be notified by the Required Lenders Majority Banks that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan Advance during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBanks) to the Borrower and the LendersBanks. In such event (a) any Loan Construction Advance Request or Conversion Request with respect to Eurodollar Rate Loans Advances shall be automatically withdrawn and shall be deemed a request for Base Rate LoansAdvances, (b) each Eurodollar Rate Loan Advance will automatically, on the last day of the then current Interest Period relating theretothereof, become a Base Rate LoanAdvance, and (c) the obligations of the Lenders Banks to make Eurodollar Rate Loans Advances shall be suspended until the Administrative Agent or the Required Lenders determine Majority Banks determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required LendersMajority Banks, shall so notify the Borrower and the LendersBanks.

Appears in 1 contract

Samples: Construction and Term Loan Agreement (Trailer Bridge Inc)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower Borrowers and the Lenders) to the Borrower Borrowers and the Lenders. In such event (ai) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (bii) each Eurodollar Rate Loan will automatically, on the last day of the 42 -36- then current Interest Period relating thereto, become a Base Rate Loan, and (ciii) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower Borrowers and the LendersLenders and the Borrowers shall thereafter have the right to elect Eurodollar Rate Loans hereunder.

Appears in 1 contract

Samples: Revolving Credit Agreement (Zale Corp)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders Majority Banks that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBanks) to the Borrower and the LendersBanks. In such event (a) any Revolving Credit Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Prime Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Prime Rate Loan, and (c) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders Majority Banks determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required LendersMajority Banks, shall so notify the Borrower and the LendersBanks.

Appears in 1 contract

Samples: Revolving Credit Agreement (Bridgestreet Accommodations Inc)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the Lenders) to the Borrower and the Lenders. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (c) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders Lenders, as applicable, determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower and the Lenders.

Appears in 1 contract

Samples: Revolving Credit Agreement (Staples Inc)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent 40 -33- shall determine or be notified by the Required Lenders Majority Banks that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBanks) to the Borrower and the LendersBanks. In such event (a) any Revolving Credit Loan Request, Growth Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (c) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders Majority Banks determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required LendersMajority Banks, shall so notify the Borrower and the LendersBanks.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Perkins Family Restaurants Lp)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders Majority Banks that (i) adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, (ii) the Administrative implementation of Eurodollar Rate Loans has been made impracticable by the occurrence of a contingency that materially and adversely affects the London Interbank Market, or (iii) the Eurodollar Rate shall no longer represent the effective cost to the Banks for U.S. dollar deposits in the London Interbank Market, as applicable for deposits in which they regularly participate, the Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBanks) to the Borrower and the LendersBanks. In such event (a) any Revolving Credit Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Prime Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Prime Rate Loan, and (c) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders Majority Banks determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required LendersMajority Banks, shall so notify the Borrower and the LendersBanks.

Appears in 1 contract

Samples: Revolving Credit Agreement (Provant Inc)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBanks) to the Borrower and the LendersBanks. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and and, unless a Federal Funds Rate Loan is elected by the Borrower pursuant to Paragraph 2.6, shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (c) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine Majority Banks determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent Agent, or, as the case may be, the Administrative Agent upon the instruction of the Required LendersMajority Banks, shall so notify the Borrower and the LendersBanks.

Appears in 1 contract

Samples: Revolving Credit Agreement (Freedom Securities Corp /De/)

Inability to Determine Eurodollar Rate. (a) In the event, prior and on each occasion, that the Company has accepted a Competitive Bid with respect to a Eurodollar Loan and, on or before the commencement of any date on which the Eurodollar Rate for the Interest Period relating to any Eurodollar Rate Loansuch Loan is to be determined, the Administrative Agent shall determine or be notified have determined that by reason of circumstances affecting the London Interbank Eurodollar market adequate and fair means do not exist for ascertaining the Interest Rate applicable to such Loan during such Interest Period, then, and in any such event, the Competitive Bid Request submitted by the Required Lenders Company with respect to such Loan and the Competitive Bid submitted by the Competitive Bid Bank and accepted by the Company with respect to such Loan shall both be deemed to be rescinded and of no force and effect whatsoever. The Administrative Agent shall immediately give notice of such determination by telephone (confirmed by facsimile or e-mail) to the Company and to such Competitive Bid Bank. Each such determination by the Administrative Agent shall be conclusive and binding upon the parties hereto in the absence of manifest error. (b) In the event, and on each occasion, that on or prior to the first day of any Interest Period for any Revolving Credit Loan that is a Eurodollar Loan: (i) the Administrative Agent shall have determined (which determination shall be conclusive absent manifest error) that adequate and reasonable methods fair means do not exist for ascertaining the Eurodollar Rate (including, without limitation, because the Eurodollar Screen Rate is not available or published on a current basis) for such Interest Period; or (ii) the Required Banks advise the Administrative Agent that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any for such Interest Period will not adequately and fairly reflect the cost to such Banks of funding Revolving Credit Loans that are Eurodollar Loans for such Interest Period, ; the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on thereof to the Borrower Company and the Lenders) to the Borrower and the Lenders. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate LoansBanks, (b) each Eurodollar Rate Loan will automaticallywhereupon, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (c) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or notifies the Required Lenders determine Company that the circumstances giving rise to such suspension no longer exist, whereupon (A) any request for the conversion of any Revolving Credit Loan to, or continuation of any Revolving Credit Loan as, a Eurodollar Loan (including any such conversion or continuation arising from the refinancing provisions of Section 2.06 hereof) shall be ineffective, (B) any Eurodollar Loan that is requested to be continued (including any such continuation arising from the refinancing provisions of Section 2.06 hereof) shall be continued as an Alternate Base Rate Loan and (C) any request for a Revolving Credit Loan that is a Eurodollar Loan shall be (1) in the case of any such request or deemed request pursuant to Section 2.06 hereof, deemed to be a request for an Alternate Base Rate Loan and (2) otherwise, deemed to be rescinded and of no force and effect whatsoever. (c) If at any time the Administrative Agent or, as determines (which determination shall be conclusive absent manifest error) that (i) the case may be, circumstances set forth in paragraph (b)(i) of this Section 3.03 have arisen and such circumstances are unlikely to be temporary or (ii) the circumstances set forth in paragraph (b)(i) of this Section 3.03 have not arisen but the supervisor for the administrator of the Eurodollar Screen Rate or a governmental authority having jurisdiction over the Administrative Agent upon has made a public statement identifying a specific date after which the instruction Eurodollar Screen Rate shall no longer be used for determining interest rates for loans, then the Administrative Agent and the Company shall endeavor to establish an alternate rate of interest to that based on the Eurodollar Screen Rate that gives due consideration to the then prevailing market convention for determining a rate of interest for syndicated loans denominated in Dollars in the United States at such time, and shall enter into an amendment to this Agreement to reflect such alternate rate of interest and such other related changes to this Agreement as the Administrative Agent and the Company may determine to be appropriate (but for the avoidance of doubt, such related changes shall not include a reduction of the Applicable Margin); provided that if such alternate rate of interest shall be less than zero, such rate shall be deemed to be zero for all purposes of this Agreement. Notwithstanding anything to the contrary in Section 10.01, such amendment shall become effective without any further action or consent of any other party to this Agreement so long as the Administrative Agent shall not have received, within five Business Days of the date a copy of such amendment is provided to the Banks, a written notice from the Required LendersBanks stating that such Required Banks object to such amendment. Until an alternate rate of interest shall be determined in accordance with this paragraph (c) (but, in the case of the circumstances described in clause (ii) of the first sentence of this paragraph (c), only to the extent the Eurodollar Screen Rate for such Interest Period is not available or published at such time on a current basis), clauses (A), (B) and (C) of paragraph (b) of this Section 3.03 shall so notify the Borrower and the Lendersbe applicable.

Appears in 1 contract

Samples: Credit Agreement (Occidental Petroleum Corp /De/)

Inability to Determine Eurodollar Rate. (a) In the event, and on each occasion, that on or prior to the commencement first day of any Interest Period relating to for any Term Loan that is a Eurodollar Rate Term Loan, : (i) the Administrative Agent shall determine or have determined (which determination shall be notified by the Required Lenders conclusive absent manifest error) that adequate and reasonable methods fair means do not exist for ascertaining the Eurodollar Rate (including, without limitation, because the Eurodollar Screen Rate is not available or published on a current basis) for such Interest Period; or (ii) the Required Banks advise the Administrative Agent that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any for such Interest Period will not adequately and fairly reflect the cost to such Banks of funding Term Loans that are Eurodollar Term Loans for such Interest Period, ; the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on thereof to the Borrower Company and the Lenders) to the Borrower and the Lenders. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate LoansBanks, (b) each Eurodollar Rate Loan will automaticallywhereupon, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (c) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or notifies the Required Lenders determine Company that the circumstances giving rise to such suspension no longer exist, whereupon (A) any request for the conversion of any Term Loan to, or continuation of any Term Loan as, a Eurodollar Term Loan (including any such conversion or continuation arising from the provisions of Section 2.06 hereof) shall be ineffective, (B) any Eurodollar Term Loan that is requested to be continued (including any such continuation arising from the provisions of Section 2.06 hereof) shall be continued as an Alternate Base Rate Term Loan and (C) any request for a Term Loan that is a Eurodollar Term Loan shall be (1) in the case of any such request or deemed request pursuant to Section 2.06 hereof, deemed to be a request for an Alternate Base Rate Term Loan and (2) otherwise, deemed to be rescinded and of no force and effect whatsoever. (b) If at any time the Administrative Agent or, as determines (which determination shall be conclusive absent manifest error) that (i) the case may be, circumstances set forth in paragraph (a)(i) of this Section 3.03 have arisen and such circumstances are unlikely to be temporary or (ii) the circumstances set forth in paragraph (a)(i) of this Section 3.03 have not arisen but the supervisor for the administrator of the Eurodollar Screen Rate or a governmental authority having jurisdiction over the Administrative Agent upon has made a public statement identifying a specific date after which the instruction Eurodollar Screen Rate shall no longer be used for determining interest rates for loans, then the Administrative Agent and the Company shall endeavor to establish an alternate rate of interest to that based on the Eurodollar Screen Rate that gives due consideration to the then prevailing market convention for determining a rate of interest for syndicated loans denominated in Dollars in the United States at such time, and shall enter into an amendment to this Agreement to reflect such alternate rate of interest and such other related changes to this Agreement as the Administrative Agent and the Company may determine to be appropriate (but for the avoidance of doubt, such related changes shall not include a reduction of the Applicable Margin); provided that if such alternate rate of interest shall be less than zero, such rate shall be deemed to be zero for all purposes of this Agreement. Notwithstanding anything to the contrary in Section 10.01, such amendment shall become effective without any further action or consent of any other party to this Agreement so long as the Administrative Agent shall not have received, within five Business Days of the date a copy of such amendment is provided to the Banks, a written notice from the Required LendersBanks stating that such Required Banks object to such amendment. Until an alternate rate of interest shall be determined in accordance with this paragraph (b) (but, in the case of the circumstances described in clause (ii) of the first sentence of this paragraph (b), only to the extent the Eurodollar Screen Rate for such Interest Period is not available or published at such time on a current basis), clauses (A), (B) and (C) of paragraph (a) of this Section 3.03 shall so notify the Borrower and the Lendersbe applicable.

Appears in 1 contract

Samples: Term Loan Agreement (Occidental Petroleum Corp /De/)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall reasonably determine or be notified by the Required Lenders that (a) adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest PeriodPeriod or (b) the Eurodollar Rate determined or to be determined for such Interest Period will not adequately and fairly reflect the cost to the Lenders of making or maintaining their Eurodollar Rate Loans during such period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the Lenders) to the Borrower and the Lenders. In Following such event notice (ai) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (bii) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (ciii) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower and the Lenders.

Appears in 1 contract

Samples: Term Loan Agreement (CAI International, Inc.)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine in good faith or be notified by the Required Lenders that they have determined in good faith that (a) by reason of circumstances affecting the interbank eurodollar market, adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any such Interest PeriodPeriod or (b) the Eurodollar Rate determined or to be determined for such Interest Period will not adequately and fairly reflect the cost to the Lenders of making or maintaining their Eurodollar Rate Loans during such period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the Lenders) to the Borrower and the Lenders. In such event and for so long as such circumstances shall continue (ai) any Loan and Letter of Credit Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (bii) each Eurodollar Rate Loan will 42 automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (ciii) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower and the Lenders.

Appears in 1 contract

Samples: Revolving Credit Agreement (Friendly Ice Cream Corp)

Inability to Determine Eurodollar Rate. In the event, prior to the -------------------------------------- commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Loan and Collateral Agent shall determine or be notified by the Required Lenders Majority Banks that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Loan and Collateral Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBanks) to the Borrower and the LendersBanks. In such event (ai) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (bii) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (ciii) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Loan and Collateral Agent or the Required Lenders Majority Banks determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Loan and Collateral Agent or, as the case may be, the Administrative Loan and Collateral Agent upon the instruction of the Required LendersMajority Banks, shall so notify the Borrower and the LendersBanks.

Appears in 1 contract

Samples: Revolving Credit Agreement (California Steel Industries Inc)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders Majority Banks that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBanks) to the Borrower and the LendersBanks. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (c) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders Majority Banks determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required LendersMajority BANKS, shall so notify the Borrower and the LendersBanks.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Dynatech Corp)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine in good faith or be notified by the Required Lenders that they have determined in good faith that (a) by reason of circumstances affecting the interbank eurodollar market, adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any such Interest PeriodPeriod or (b) the Eurodollar Rate determined or to be determined for such Interest Period will not adequately and fairly reflect the cost to the Lenders of making or maintaining their Eurodollar Rate Loans during such period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the Lenders) to the Borrower and the Lenders. In such event and for so long as such circumstances shall continue (ai) any Loan and Letter of Credit Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (bii) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (ciii) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower and the Lenders.

Appears in 1 contract

Samples: Revolving Credit Agreement (Friendly Ice Cream Corp)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders Majority Banks that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower Borrowers and the LendersBanks) to the Borrower Borrowers and the LendersBanks. In such event (a) any Loan 35 Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (c) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders Majority Banks determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required LendersMajority Banks, shall so notify the Borrower Borrowers and the LendersBanks.

Appears in 1 contract

Samples: Loan Agreement (Metallurg Inc)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders Majority Banks that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBanks) to the Borrower and the LendersBanks. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the -45- last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (c) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine Majority Banks determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required LendersMajority Banks, shall so notify the Borrower and the LendersBanks.

Appears in 1 contract

Samples: Revolving Credit Agreement (Rti Capital Corp)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders any Bank that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower Borrowers and the LendersBanks) to the Borrower Borrowers and the LendersBanks. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (c) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine Majority Banks determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required LendersMajority Banks, shall so notify the Borrower Borrowers and the LendersBanks.

Appears in 1 contract

Samples: Credit Agreement (Xomed Surgical Products Inc)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall in good faith determine or be notified by the Required Lenders that (a) adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest PeriodPeriod or (b) the Eurodollar Rate determined or to be determined for such Interest Period will not adequately and fairly reflect the cost to the Revolving Credit Lenders of making or maintaining their Eurodollar Rate Loans during such period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower Borrowers and the Revolving Credit Lenders) to the Borrower Borrowers' Representative and the Revolving Credit Lenders. In such event (ai) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (bii) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (ciii) the obligations of the Revolving Credit Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower Borrowers' Representative and the Revolving Credit Lenders.

Appears in 1 contract

Samples: Revolving Credit, Tranche B Loan and Security Agreement (Mayors Jewelers Inc/De)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders that (a) adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest PeriodPeriod or (b) the Eurodollar Rate determined or to be determined for such Interest Period will not adequately and fairly reflect the cost to the Lenders of making or maintaining their Eurodollar Rate Loans during such period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the Lenders) to the Borrower and the Lenders. In such event (ai) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (bii) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (ciii) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the -35- case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower and the Lenders.

Appears in 1 contract

Samples: Revolving Credit Agreement (Peregrine Systems Inc)

Inability to Determine Eurodollar Rate. In the event, prior to -------------------------------------- the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall reasonably determine or be notified by the Required Lenders that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBorrower) to the Borrower and the LendersBanks. In such event (a) any Completed Revolving Credit Loan Request or Conversion Competitive Bid Quote Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans (in the case of Revolving Credit Loans) or Absolute Competitive Bid Loans (in the case of Competitive Bids Loans), (b) each Revolving Credit Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating theretothereof, become a Base Rate Loan, and (c) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine reasonably determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower and the LendersBanks.

Appears in 1 contract

Samples: Revolving Credit Agreement (Beacon Properties L P)

Inability to Determine Eurodollar Rate. In the eventevent that, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by (in accordance wth the Required Lenders definition of Eurodollar Rate) that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the LendersBanks) to the Borrower and the LendersBanks. In such event (ai) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (bii) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (ciii) the obligations of the Lenders Banks to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower and the LendersBanks.

Appears in 1 contract

Samples: Revolving Credit Agreement (Charlotte Russe Holding Inc)

Inability to Determine Eurodollar Rate. In the event, If prior to the commencement of any Interest Tranche Period relating to any for a Eurodollar Rate Loan, Tranche: (a) the Administrative Agent determines (which determination shall determine or be notified by the Required Lenders conclusive absent manifest error) that adequate and reasonable methods means do not exist for ascertaining the Adjusted Eurodollar Rate or the Eurodollar Rate, as applicable, for such Tranche Period; or (b) the Administrative Agent is advised by the Required Committed Lenders that would otherwise determine the rate of interest to be applicable to any Adjusted Eurodollar Rate Loan during any Interest or the Eurodollar Rate, as applicable, for such Tranche Period will not adequately and fairly reflect the cost to such Lenders of making or maintaining the related Tranche for such Tranche Period, ; then the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the Lenders) thereof to the Borrower and the Lenders. In such event (a) any Loan Request each Funding Agent by telephone or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loanstelecopy as promptly as practicable thereafter and, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (c) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or notifies the Required Lenders determine Borrower and each Funding Agent that the circumstances giving rise to such suspension notice no longer exist, whereupon (i) any request to convert a Tranche to, or to continue any Tranche as, a Eurodollar Tranche shall be ineffective and such Tranche shall be converted to or continued as on the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction last day of the Required LendersTranche Period applicable thereto, a Base Rate Tranche and (ii) if any Borrowing Request requests a Eurodollar Borrowing, such Borrowing shall so notify the Borrower and the Lendersbe made as a Base Rate Tranche.

Appears in 1 contract

Samples: Receivables Loan Agreement (TRW Automotive Holdings Corp)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Majority Lenders that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower Borrowers and the Lenders) to the Borrower Borrowers and the Lenders. In such event (ai) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (bii) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (ciii) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower Borrowers and the Lenders.

Appears in 1 contract

Samples: Revolving Credit Agreement (CML Group Inc)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent Bank shall determine or be notified by the Required Lenders that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent Bank shall forthwith promptly give telephonic notice (promptly confirmed in writing) of such determination (which shall be conclusive and binding on the Borrower and the LendersBorrower) to the Borrower and the LendersBorrower's treasurer or chief financial officer. In such event (a) upon receipt of notice, the Borrower may revoke any pending request for any Loan Request or Conversion Request with respect to Eurodollar Rate Loans, (b) if the Borrower does not revoke such request or Conversion Request, the Bank shall make, convert or continue Loans, as proposed by the Borrower, in the amount specified in the request or the Conversion Request submitted by the Borrower, but such Loans shall be automatically withdrawn and shall be deemed a request for made, converted or continued as Base Rate Loans instead of Eurodollar Rate Loans, (bc) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (cd) the obligations of the Lenders Bank to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine Bank determines that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, Bank shall so notify the Borrower and the LendersBorrower.

Appears in 1 contract

Samples: Revolving Loan Agreement (Nexstar Pharmaceuticals Inc)

Inability to Determine Eurodollar Rate. In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders that (a) adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest PeriodPeriod or (b) the Eurodollar Rate determined or to be determined for such Interest Period will not adequately and fairly reflect the cost to the Lenders of making or maintaining their Eurodollar Rate Loans during such period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the Lenders) to the Borrower and the Lenders. In such event (ai) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (bii) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (ciii) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower and the Lenders.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Buca Inc /Mn)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!