Common use of Inability to Determine LIBOR Rate Clause in Contracts

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 In such event (a) any Loan Request or Conversion Request with respect to any LIBOR Rate Loan shall be automatically withdrawn and shall be deemed a request for a Base Rate Loan, (b) each LIBOR Rate Loan will automatically, on the last day of the then current Interest Period thereof,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

Inability to Determine LIBOR Rate. In the event, prior to the commencement of any Interest Period relating to any LIBOR Rate Loan, the Bank Lender shall determine that adequate and reasonable methods do not exist for ascertaining the LIBOR Rate that would otherwise determine the rate of interest to be applicable to any LIBOR Rate Loan during any Interest Period, the Bank Lender shall forthwith give notice of such determination (which shall be conclusive and binding on the BorrowerCompany) to the BorrowerCompany. In such event event, (a) any Loan Request or Conversion Request with respect to any request for a LIBOR Rate Loan shall be automatically withdrawn and shall be deemed a request for a Base Prime Rate Loan, (b) each LIBOR Rate Loan will automatically, on the last day of the then current Interest Period thereof, become a Base Rate Prime Late Loan, and (c) the obligation obligations of the Bank Lender to make LIBOR Rate Loans shall be suspended until the Bank Lender determines that the circumstances giving rise to such suspension no longer exist, whereupon the Bank Lender shall so notify the BorrowerCompany.

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

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

Inability to Determine LIBOR Rate. In the event, prior to the commencement of any Interest Period relating to any LIBOR Rate Loan, the Bank Lender shall determine that adequate and reasonable methods do not exist for ascertaining the LIBOR Rate that would otherwise determine the rate of interest to be applicable to any LIBOR Rate Loan during any Interest Period, the Bank Lender shall forthwith give written notice of such determination (which shall be conclusive and binding on the Borrower) to the Borrower. In such event (a) any request for a Loan Request or Conversion Request with respect to any LIBOR Rate Loan Loans shall be automatically withdrawn and shall be deemed a request for a Base Prime Rate LoanLoans, (b) each LIBOR Rate Loan will automatically, on the last day of the then current Interest Period thereof, thereof will automatically become a Base Prime Rate Loan, and (c) the obligation obligations of the Bank Lender to make LIBOR Rate Loans shall be suspended until the Bank Lender determines that the circumstances giving rise to such suspension no longer exist, whereupon the Bank Lender shall so notify the Borrower.

Inability to Determine LIBOR Rate. In the event, event that prior to the commencement of any LIBOR Interest Period relating to any LIBOR Rate Loan, the Bank shall determine in the exercise of its reasonable commercial judgment that adequate and reasonable methods do not exist for ascertaining the LIBOR Rate that would otherwise determine the rate of interest to be applicable to any LIBOR Rate Loan during any for such Interest Period, the Bank shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower) to the Borrower. In such event (a) any Loan Request or Conversion Request with respect to any notice from Borrower requesting a LIBOR Rate for a Loan shall be automatically withdrawn and shall be deemed a request for a Base Rate LoanLoan bearing interest at the applicable Prime Lending Rate, and (b) each LIBOR Rate Loan will automatically, on the last day of the then current LIBOR Rate Interest Period thereofPeriod, become a Base convert to an amount accruing interest at the Prime Lending Rate Loanper annum, and (c) the obligation of the Bank to make no further LIBOR Rate Loans shall will be suspended permitted until the Bank determines in the exercise of its reasonable commercial judgment that the circumstances giving rise to such suspension no longer exist, whereupon the Bank shall so notify the Borrower.