Inability to Determine Rates; Market Disruption. (a) Unless and until a Benchmark Replacement is implemented in accordance with Section 4.03(b), if the Required Lenders determine that for any reason in connection with any request for a Loan or a conversion to or continuation thereof that: (i) deposits (whether denominated in Dollars or an Alternative Currency) are not being offered to banks in the applicable offshore interbank market for the applicable amount and Interest Period of such Loan; (ii) adequate and reasonable means do not exist for determining the RFR for any requested Interest Period with respect to a proposed RFR Rate Loan (whether denominated in Dollars or an Alternative Currency) or in connection with an Alternate Base Rate Loan; or (iii) the RFR for any requested Interest Period with respect to a proposed RFR Rate Loan (whether denominated in Dollars or an Alternative Currency) or in connection with an Alternate Base Rate Loan does not adequately and fairly reflect the cost to such Lenders of funding such Loan, the Administrative Agent will promptly notify the Borrower and each Lender. Thereafter, the obligation of the Lenders to make or maintain RFR Rate Loans and Alternate Base Rate Loans as to which the interest rate is determined with reference to the RFR shall be suspended until the Administrative Agent (upon the instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of RFR Rate Loans or, failing that with respect to RFR Rate Loans denominated in Dollars, will be deemed to have converted such request into a request for a Borrowing of Alternate Base Rate Loans in the amount specified therein.
Inability to Determine Rates; Market Disruption. (a) If the U.S. Required Lenders determine that for any reason adequate and reasonable means do not exist for determining the U.S. Dollar Eurodollar Rate for any requested Interest Period with respect to a proposed U.S. Eurodollar Rate Committed Loan, or that the U.S. Dollar Eurodollar Rate for any requested Interest Period with respect to a proposed U.S. Eurodollar Rate Committed Loan does not adequately and fairly reflect the cost to such Lenders of funding such Loan, the Administrative Agent will promptly so notify the U.S. Borrower and each Lender. Thereafter, the obligation of the Lenders to make or maintain U.S. Dollar Eurodollar Rate Loans shall be suspended until the Administrative Agent (upon the instruction of the U.S. Required Lenders) revokes such notice. Upon receipt of such notice, the U.S. Borrower may revoke any pending request for a U.S. Borrowing of, conversion to or continuation of U.S. Eurodollar Rate Committed Loans or, failing that, will be deemed to have converted such request into a request for a U.S. Committed Borrowing of U.S. Base Rate Loans in the amount specified therein.
Inability to Determine Rates; Market Disruption. (a) If, on any Interest Determination Date, the Administrative Agent determines that for any reason adequate and reasonable means do not exist for determining the LIBOR for the relevant Interest Period, the Administrative Agent will promptly so notify the Borrower and each Lender. Thereafter, the rate of interest on each Loan for each Interest Period shall be the percentage rate per annum which is equal to the sum of (a) a rate determined by calculating the arithmetic mean of the cost of obtaining matching deposits in Dollars in the London interbank market (rounded up to four decimal places) as supplied to the Lenders by the Reference Banks that provide a quote and (b) the Applicable Margin until the Administrative Agent revokes such notice in writing. Upon the receipt of such notice, if the Borrower so requires, the Administrative Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest applicable to such Loans. Any alternative basis agreed pursuant to foregoing sentence shall, with the prior consent of all the Lenders and the Borrower, be binding on all parties hereto. If no such alternative basis is so agreed, the rate of interest on each Loan shall be as determined pursuant to the second sentence of this Section 2.13(a).
Inability to Determine Rates; Market Disruption. (a) If in connection with any request for a Loan or a conversion to or continuation thereof: (a)
Inability to Determine Rates; Market Disruption. Benchmark Replacement Setting. 7069
Inability to Determine Rates; Market Disruption. 71 4.04 Increased Costs Generally. 73 4.05 Compensation for Losses 75 4.06 Mitigation Obligations; Replacement of Lenders. 75
Inability to Determine Rates; Market Disruption. Section 8.01 of the Original Agreement is hereby amended in its entirety to read as follows:
Inability to Determine Rates; Market Disruption
