Common use of Inability to Determine Interest Rates Clause in Contracts

Inability to Determine Interest Rates. If prior to the occurrence of any Interest Reset Date, the Administrative Agent shall have determined (which determination shall be conclusive and binding upon the Borrower) that (a) by reason of circumstances affecting the relevant interbank market, adequate means do not exist for ascertaining LIBOR, or (b) the Administrative Agent shall have received notice from the Required Lenders that LIBOR does not adequately and fairly reflect the cost to such Lenders of making, funding or maintaining its Eurodollar Loans, the Administrative Agent shall give written notice (or telephonic notice, promptly confirmed in writing) to the Borrower as soon as practicable thereafter. Until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, all such affected Loans outstanding shall be deemed to be converted into Base Rate Loans as of such date and shall bear interest at the Base Rate plus the Base Rate Margin.

Inability to Determine Interest Rates. If prior to the occurrence commencement of any Interest Reset DatePeriod for a Eurodollar Loan, the Administrative Agent shall have determined (which determination shall be conclusive and binding upon the Borrower) that (a) by reason of circumstances affecting the relevant interbank market, adequate means do not exist for ascertaining Adjusted LIBOR, or (b) the Administrative Agent shall have received notice from the Required Lenders that Adjusted LIBOR does not adequately and fairly reflect the cost to such Lenders of making, funding or maintaining its Eurodollar LoansLoan, the Administrative Agent shall give written notice (or telephonic notice, promptly confirmed in writing) to the Borrower and the Lenders as soon as practicable thereafter. Until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, all such affected the Term Loans outstanding shall be deemed to be converted into a Base Rate Loans Loan as of such date and shall bear interest at the Base Rate plus the Base Rate Margin.

Inability to Determine Interest Rates. If prior to the occurrence commencement of any Interest Reset DatePeriod for a Eurodollar Loan, the Administrative Agent shall have determined (which determination shall be conclusive and binding upon the Borrower) that (a) by reason of circumstances affecting the relevant interbank market, adequate means do not exist for ascertaining LIBOR, or (b) the Administrative Agent shall have received notice from the Required Lenders that LIBOR does not adequately and fairly reflect the cost to such Lenders of making, funding or maintaining its Eurodollar Loans, the Administrative Agent shall give written notice (or telephonic notice, promptly confirmed in writing) to the Borrower as soon as practicable thereafter. Until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, all such affected Loans outstanding the Term Loan shall be deemed to be converted into a Base Rate Loans Loan as of such date and shall bear interest at the Base Rate plus the Base Rate Margin.

Inability to Determine Interest Rates. If prior to the occurrence of at any Interest Reset Date, time: (a) the Administrative Agent shall have determined (which determination shall be conclusive and binding upon the BorrowerBorrowers) that (a) that, by reason of circumstances affecting the relevant interbank market, adequate means do not exist for ascertaining LIBOR as contemplated in the definition of LIBOR, or or (b) the Administrative Agent shall have received notice from the Required Lenders that LIBOR the Eurodollar Rate does not adequately and fairly reflect the cost to such Lenders of making, funding or maintaining its Eurodollar their Loans, the Administrative Agent shall give written notice (or telephonic notice, promptly confirmed in writing) to the Borrower Agent and to the Lenders as soon as practicable thereafter. Until , the Applicable Rate shall automatically convert to the Base Rate and remain as the Base Rate until such time as the Administrative Agent notifies shall have notified the Borrower Agent and the Lenders that the circumstances giving rise to such notice no longer existexist (at which time, all such affected Loans outstanding the Applicable Rate shall be deemed automatically convert to be converted into Base Rate Loans as of such date and shall bear interest at the Base Rate plus the Base Rate MarginEurodollar Rate).

Inability to Determine Interest Rates. If prior to the occurrence commencement of any Interest Reset DatePeriod for a Eurodollar Loan, the Administrative Agent shall have determined (which determination shall be conclusive and binding upon the Borrower) that (a) by reason of circumstances affecting the relevant interbank market, adequate means do not exist for ascertaining LIBOR, or (b) the Administrative Agent shall have received notice from the Required Lenders that LIBOR does not adequately and fairly reflect the cost to such Lenders of making, funding or maintaining its Eurodollar LoansLoan, the Administrative Agent shall give written notice (or telephonic notice, promptly confirmed in writing) to the Borrower and the Lenders as soon as practicable thereafter. Until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, all such affected Loans outstanding the Term Loan shall be deemed to be converted into a Base Rate Loans Loan as of such date and shall bear interest at the Base Rate plus the Base Rate Margin.

Inability to Determine Interest Rates. If prior to the occurrence of any Interest Reset Date, the Administrative Agent shall have determined (which determination shall be conclusive and binding upon the BorrowerBorrower absent manifest error) that (a) by reason of circumstances affecting the relevant interbank market, (a) adequate means do not exist for ascertaining LIBOR, or (b) the Administrative Agent shall have received notice from the Required Lenders that LIBOR does not adequately and fairly reflect the cost to such Lenders of making, funding or maintaining its Eurodollar Loans, the Administrative Agent shall give written notice (or telephonic notice, promptly confirmed in writing) to the Borrower as soon as practicable thereafter. Until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, all such affected Loans outstanding shall be deemed to be converted into Base Rate Loans as of such date and shall bear interest at the Base Rate plus the Base Rate Margin.

Inability to Determine Interest Rates. If prior to the occurrence of at any Interest Reset Date, time: the Administrative Agent shall have determined (which determination shall be conclusive and binding upon the BorrowerBorrowers) that (a) that, by reason of circumstances affecting the relevant interbank market, adequate means do not exist for ascertaining LIBOR as contemplated in the definition of LIBOR, or or (ba) the Administrative Agent shall have received notice from the Required Lenders that LIBOR the Eurodollar Rate does not adequately and fairly reflect the cost to such Lenders of making, funding or maintaining its Eurodollar their Loans, , (b) the Administrative Agent shall give written notice (or telephonic notice, promptly confirmed in writing) to the Borrower Agent and to the Lenders as soon as practicable thereafter. Until , the Applicable Rate shall automatically convert to the Base Rate and remain as the Base Rate until such time as the Administrative Agent notifies shall have notified the Borrower Agent and the Lenders that the circumstances giving rise to such notice no longer existexist (at which time, all such affected Loans outstanding the Applicable Rate shall be deemed automatically convert to be converted into Base Rate Loans as of such date and shall bear interest at the Base Rate plus the Base Rate MarginEurodollar Rate).