Common use of Inability to Make LIBOR Based Loans Clause in Contracts

Inability to Make LIBOR Based Loans. If on any date CIBC determines in good faith (which determination shall be conclusive as between the parties hereto), that its ability to make a requested LIBOR based loan has become impracticable, impossible or unlawful, or has been materially adversely affected, because: (a) of any change in applicable law or in the interpretation or administration thereof by authorities having jurisdiction in the matter, whether or not having the force of law; (b) of any material adverse change in, or the termination of, the London Interbank Eurodollar Market for eurodollars; or (c) there exists no adequate or fair measure to ascertain the LIBOR for any LIBOR period for the LIBOR based loan, then CIBC shall give the Borrower written notice thereof and thereupon, CIBC shall have no further obligation with respect to such LIBOR based loan, provided that, the Borrower may elect to drawdown, rollover or convert the amount originally requested by way of such LIBOR based loan, into some other type of Availment upon compliance with the applicable notice requirements set out herein.

Inability to Make LIBOR Based Loans. If If, on any date CIBC date, a Lender determines in good faith (which determination shall will be conclusive as between the parties heretoParties), that its ability to make a requested LIBOR based loan Based Loan has become impracticable, impossible or unlawful, or has been materially adversely affected, because: (a) of any change in applicable law Laws, or in the interpretation or administration thereof by authorities having jurisdiction in the matter, whether or not having the force of lawLaw; (b) of any material adverse change in, or the termination of, the London Interbank Eurodollar Market for eurodollarsEurodollars; or (c) there exists no adequate or fair measure to ascertain the LIBOR for any LIBOR period Period for the LIBOR based loanBased Loan, then CIBC shall the Lender will give the Borrower written and the other Lenders notice thereof and thereupon, CIBC shall thereupon the Lender will have no further obligation with respect to such LIBOR based loanBased Loan, provided that, the Borrower may elect to drawdownDrawdown, rollover Rollover or convert Convert the amount originally requested by way of such LIBOR based loanBased Loan, into some other type of Availment Borrowing upon compliance with the applicable notice requirements set out herein.

Inability to Make LIBOR Based Loans. If If, on any date CIBC date, a Lender determines in good faith (which determination shall will be conclusive as between the parties heretoParties), that its ability to make a requested LIBOR based loan Based Loan has become impracticable, impossible or unlawful, or has been materially adversely affected, because: (a) of any change in applicable law Laws, or in the interpretation or administration thereof by authorities having jurisdiction in the matter, whether or not having the force of lawLaw; (b) of any material adverse change in, or the termination of, the London Interbank Eurodollar Market for eurodollarsEurodollars; or (c) there exists no adequate or fair measure to ascertain the LIBOR for any LIBOR period Period for the LIBOR based loanBased Loan, then CIBC shall the Lender will give the Borrower written and the other Lenders notice thereof and thereupon, CIBC shall thereupon the Lender will have no further obligation with respect to such LIBOR based loanBased Loan, provided that, the Borrower may elect to drawdownDrawdown, rollover Rollover or convert Convert the amount originally requested by way of such LIBOR based loanBased Loan, into some other type of Availment Accommodation upon compliance with the applicable notice requirements set out herein.

Inability to Make LIBOR Based Loans. If If, on any date CIBC date, a Lender determines in good faith (which determination shall will be conclusive as between the parties heretoParties), that its ability to make a requested LIBOR based loan Based Loan has become impracticable, impossible or unlawful, or has otherwise been materially adversely affected, because: (a) of any change in applicable law Law, or in the interpretation or administration thereof by authorities having jurisdiction in the matter, whether or not having the force of law; (b) of any material adverse change in, or the termination of, the London Interbank Eurodollar Market for eurodollarsMarket; or (c) there exists no adequate or fair measure to ascertain the LIBOR for any LIBOR period Period for the LIBOR based loanBased Loan, then CIBC shall such Lender will give the Borrower and the other Lenders written notice thereof and thereupon, CIBC shall thereupon such Lender will have no further obligation with respect to such LIBOR based loanBased Loan, provided that, the Borrower may elect to drawdownDrawdown, rollover effect a Rollover or convert Conversion of the amount originally requested by way of such LIBOR based loanBased Loan, into some other type of Availment Accommodation upon compliance with the applicable notice requirements set out herein.