Common use of Inability to Determine LIBOR Clause in Contracts

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 In such event (a) any Loan Request with respect to a LIBOR Rate Loan shall be automatically withdrawn and shall be deemed a request for a Base Rate Loan and (b) each LIBOR Rate Loan will automatically, on the last day of the then current Interest Period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

Inability to Determine LIBOR. In the event thatevent, prior to the commencement of any Interest Period relating to any a LIBOR Rate Loan, the Administrative Agent shall determine or be notified by Required Lenders that adequate and reasonable methods do not exist for ascertaining LIBOR for such Interest PeriodLIBOR, the Administrative Agent shall forthwith give promptly provide notice of such determination to Borrower and Lenders (which shall be conclusive and binding on the Borrower and the Lenders absent manifest error) to the Borrower and the Lenders). In such event (a1) any Loan Request with respect to request for a LIBOR Rate Loan or for a conversion to or continuation of a LIBOR Loan shall be automatically withdrawn and shall be deemed a request for a Base Rate Loan and Loan, (b2) each LIBOR Rate Loan will automatically, on the last day of the then current Interest Period applicable relating thereto, become a Base Rate Loan, Loan and (3) the obligations of the Lenders to make LIBOR Rate Loans shall be suspended until the Administrative Agent determines or Required Lenders determine that the circumstances giving rise to such suspension no longer exist, whereupon the in which event Administrative Agent shall so notify the Borrower and the Lenders.

Inability to Determine LIBOR. In the event thatevent, prior to the commencement of any Interest Period relating to any a LIBOR Rate Loan, the Agent shall determine or be notified in writing by Required Lenders that adequate and reasonable methods do not exist for ascertaining LIBOR for such Interest PeriodLIBOR, the Agent shall forthwith give promptly provide notice of such determination to Borrowers and Lenders (which shall be conclusive and binding on the Borrower Borrowers and the Lenders absent manifest error) to the Borrower and the Lenders). In such event (a1) any Loan Request with respect to request for a LIBOR Rate Loan or for a conversion to or continuation of a LIBOR Loan shall be automatically withdrawn and shall be deemed a request for a Base Prime Rate Loan and Loan, (b2) each LIBOR Rate Loan will automatically, on the last day of the then current Interest Period applicable relating thereto, become a Base Prime Rate Loan, Loan and (3) the obligations of the Lenders to make LIBOR Rate Loans shall be suspended until the Agent determines or Required Lenders determine that the circumstances giving rise to such suspension no longer exist, whereupon the in which event Agent shall so notify the Borrower Borrowers and the Lenders.

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

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

Inability to Determine LIBOR. In the event thatevent, prior to the commencement of any Interest Period relating to any a LIBOR Rate Loan, the Agent shall reasonably determine or be notified in writing by Required Lenders that adequate and reasonable methods do not exist for ascertaining LIBOR for such Interest PeriodLIBOR, the Agent shall forthwith give promptly provide notice of such determination to Borrower and Lenders (which shall shall, absent manifest error, be conclusive and binding on the Borrower and the Lenders absent manifest error) to the Borrower and the Lenders). In such event event: (a1) any Loan Request with respect to request for a LIBOR Rate Loan or for a conversion to or continuation of a LIBOR Loan shall be automatically withdrawn and shall be deemed a request for a Base Prime Rate Loan and Loan, (b2) each LIBOR Rate Loan will automatically, on the last day of the then current Interest Period applicable relating thereto, become a Base Prime Rate Loan, Loan and (3) the obligations of the Lenders to make LIBOR Rate Loans shall be suspended until the Agent determines or Required Lenders determine that the circumstances giving rise to such suspension no longer exist, whereupon the in which event Agent shall so notify the Borrower and the Lenders.

Inability to Determine LIBOR. In the event thatevent, prior to the commencement of any Interest Period relating to any a LIBOR Rate Loan, the Agent shall determine or be notified in writing by Required Lenders that adequate and reasonable methods do not exist for ascertaining LIBOR for such Interest PeriodLIBOR, the Agent shall forthwith give promptly provide notice of such determination to Borrowers and Lenders (which shall be conclusive and binding on the Borrower and the Lenders absent manifest error) to the Borrower and the Lenders). In such event (a1) any Loan Request with respect to request for a LIBOR Rate Loan or for a conversion to or continuation of a LIBOR Loan shall be automatically withdrawn and shall be deemed a request for a Base Prime Rate Loan and Loan, (b2) each LIBOR Rate Loan will automatically, on the last day of the then current Interest Period applicable relating thereto, become a Base Prime Rate Loan, Loan and (3) the obligations of the Lenders to make LIBOR Rate Loans shall be suspended until the Agent determines or Required Lenders determine that the circumstances giving rise to such suspension no longer exist, whereupon the in which event Agent shall so notify the Borrower Borrowers and the Lenders.

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

Inability to Determine LIBOR. In the event thatevent, prior to the commencement of any Interest Period relating to any a LIBOR Rate Loan, the Agent shall determine or be notified in writing by Required Lenders that adequate and reasonable methods do not exist for ascertaining LIBOR for such Interest PeriodLIBOR, the Agent shall forthwith give promptly provide notice of such determination to Borrower and Lenders (which shall be conclusive and binding on the Borrower and the Lenders absent manifest error) to the Borrower and the Lenders). In such event (a1) any Loan Request with respect to request for a LIBOR Rate Loan or for a conversion to or continuation of a LIBOR Loan shall be automatically withdrawn and shall be deemed a request for a Base Prime Rate Loan and Loan, (b2) each LIBOR Rate Loan will automatically, on the last day of the then current Interest Period applicable relating thereto, become a Base Prime Rate Loan, Loan and (3) the obligations of the Lenders to make LIBOR Rate Loans shall be suspended until the Agent determines or Required Lenders determine that the circumstances giving rise to such suspension no longer exist, whereupon the in which event Agent shall so notify the Borrower and the Lenders.