INTEREST RATE NOT ASCERTAINABLE, ETC. If, on or prior to the date for determining the Adjusted Eurodollar Rate in respect of the Interest Period for any Eurodollar Rate Advance, the Lender determines (which determination shall be conclusive and binding, absent error) that: (a) deposits in dollars (in the applicable amount) are not being made available to the Lender in the relevant market for such Interest Period, or (b) the Adjusted Eurodollar Rate will not adequately and fairly reflect the cost to the Lender of funding or maintaining Eurodollar Rate Advances for such Interest Period, the Lender shall forthwith give notice to the Borrower of such determination, whereupon the obligation of the Lender to make or continue, or to convert any Advances to, Eurodollar Rate Advances, as the case may be, shall be suspended until the Lender notifies the Borrower that the circumstances giving rise to such suspension no longer exist. While any such suspension continues, all further Advances by the Lender shall be made as Reference Rate Advances. No such suspension shall affect the interest rate then in effect during the applicable Interest Period for any Eurodollar Rate Advance outstanding at the time such suspension is imposed.
Appears in 6 contracts
Samples: Credit and Security Agreement (Cryenco Sciences Inc), Credit and Security Agreement (Wsi Industries Inc), Credit Agreement (Rimage Corp)
INTEREST RATE NOT ASCERTAINABLE, ETC. If, on or prior to the date for determining the Adjusted Eurodollar Rate in respect of the Interest Period for any Eurodollar Rate Advance, the Lender any Bank determines (which determination shall be conclusive and binding, absent error) that:
(a) deposits in dollars (in the applicable amount) are not being made available to the Lender such Bank in the relevant market for such Interest Period, or
(b) the Adjusted Eurodollar Rate will not adequately and fairly reflect the cost to the Lender such Bank of funding or maintaining Eurodollar Rate Advances for such Interest Period, the Lender such Bank shall forthwith give notice to the Borrower and the other Banks of such determination, whereupon the obligation of the Lender such Bank to make or continue, or to convert any Advances to, Eurodollar Rate Advances, as the case may be, Advances shall be suspended until the Lender such Bank notifies the Borrower and the Agent that the circumstances giving rise to such suspension no longer exist. While any such suspension continues, all further Advances by the Lender such Bank shall be made as Reference Base Rate Advances. No such suspension shall affect the interest rate then in effect during the applicable Interest Period for any Eurodollar Rate Advance outstanding at the time such suspension is imposed.
Appears in 4 contracts
Samples: Credit Agreement (Life Time Fitness Inc), Credit Agreement (Life Time Fitness Inc), Credit Agreement (Life Time Fitness Inc)
INTEREST RATE NOT ASCERTAINABLE, ETC. If, on or prior ------------------------------------ to the date for determining the Adjusted Eurodollar Rate in respect of the Interest Period for any Eurodollar Rate Advance, the Lender any Bank determines (which determination shall be conclusive and binding, absent error) that:
(a) deposits in dollars (in the applicable amount) are not being made available to the Lender such Bank in the relevant market for such Interest Period, or
(b) the Adjusted Eurodollar Rate will not adequately and fairly reflect the cost to the Lender such Bank of funding or maintaining Eurodollar Rate Advances for such Interest Period, the Lender such Bank shall forthwith give notice to the Borrower and the other Banks of such determination, whereupon the obligation of the Lender such Bank to make or continue, or to convert any Advances to, Eurodollar Rate Advances, as the case may be, Advances shall be suspended until the Lender such Bank notifies the Borrower and the Agent that the circumstances giving rise to such suspension no longer exist. While any such suspension continues, all further Advances by the Lender such Bank shall be made as Reference Rate Advances. No such suspension shall affect the interest rate then in effect during the applicable Interest Period for any Eurodollar Rate Advance outstanding at the time such suspension is imposed.
Appears in 2 contracts
Samples: Credit Agreement (Buca Inc /Mn), Credit Agreement (Buca Inc /Mn)
INTEREST RATE NOT ASCERTAINABLE, ETC. If, on or prior to the date for determining the Adjusted Eurodollar Eurocurrency Rate in respect of the Interest Period for Period, any Eurodollar Rate Advance, the Lender reasonably determines (which determination shall be conclusive and binding, absent error) that:
(a) deposits in dollars (in the applicable amount) are not being made available to the such Lender in the relevant market for such Interest Period, or
(b) the Adjusted Eurodollar Eurocurrency Rate will not adequately and fairly reflect the cost to the such Lender of funding or maintaining Eurodollar Offshore Rate Advances Loans for such Interest Period, the such Lender shall forthwith give notice to the Borrower Agent and the Company and the other Lenders of such determination, whereupon the obligation of the such Lender to make or continue, or to convert any Advances to, Eurodollar Offshore Rate Advances, as the case may be, Loans shall be suspended until the such Lender notifies the Borrower Company and the Agent that the circumstances giving rise to such suspension no longer exist. While any such suspension continues, all further Advances by the such Lender shall be made as Reference Prime Rate Advances, or, as to Bid Loans, as Absolute Rate Bid Loans. No such suspension shall affect the interest rate then in effect during the applicable Interest Period for any Eurodollar Offshore Rate Advance Loan outstanding at the time such suspension is imposed.
Appears in 2 contracts
Samples: 5 Year Revolving Credit Agreement, 5 Year Revolving Credit Agreement (Best Buy Co Inc)
INTEREST RATE NOT ASCERTAINABLE, ETC. If, on or prior to the date ------------------------------------ for determining the Fixed Adjusted Eurodollar Rate in respect of the Interest Period for any requested Fixed Eurodollar Rate Advance, the Lender a Bank determines (which determination shall be conclusive and binding, absent manifest error) that:
(a) deposits in dollars (in the applicable amount) are not being made available to the Lender such Bank in the relevant market for such Interest Period, or
(b) the Fixed Adjusted Eurodollar Rate Rate, as the case may be, will not adequately and fairly reflect the cost to the Lender such Bank of funding or maintaining Fixed Eurodollar Rate Advances Advances, as the case may be, for such Interest Period, the Lender such Bank shall forthwith give notice to the Borrower Company and the Agent of such determination, whereupon the obligation of the Lender such Bank to make or continue, or to convert any Advances to, Fixed Eurodollar Rate Advances, as the case may be, shall be suspended until the Lender such Bank notifies the Borrower Company and the Agent that the circumstances giving rise to such suspension no longer exist. While any such suspension continues, all further Advances by the Lender shall be made as Reference Rate Advances. No such suspension shall affect the interest rate then in effect during the applicable Interest Period for any Fixed Eurodollar Rate Advance outstanding at the time such suspension is imposed.
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INTEREST RATE NOT ASCERTAINABLE, ETC. If, on or prior to the date for determining the Adjusted Eurodollar Rate in respect of the Interest Period for any Eurodollar Rate AdvanceTranche, the Lender Bank determines (which determination shall be conclusive and binding, absent error) that:
(a) deposits in dollars (in the applicable amount) are not being made available to the Lender Bank in the relevant market for such Interest Period, or
(b) the Adjusted Eurodollar Rate will not adequately and fairly reflect the cost to the Lender Bank of funding or maintaining Eurodollar Rate Advances Tranches for such Interest Period, the Lender Bank shall forthwith give notice to the Borrower of such determination, whereupon the obligation of the Lender Bank to make or continue, or to convert any portion of the Advances to, Eurodollar Rate Advances, as the case may beTranches, shall be suspended until the Lender Bank notifies the Borrower that the circumstances giving rise to such suspension no longer exist. While any such suspension continues, all further Advances Tranches by the Lender Bank shall be made as Reference Rate Advanceswith an interest rate option to which such suspension does not apply. No such suspension shall affect the interest rate then in effect during the applicable Interest Period for any Eurodollar Rate Advance Tranches outstanding at the time such suspension is imposed.
Appears in 1 contract
INTEREST RATE NOT ASCERTAINABLE, ETC. If, on or prior to the date for determining the Adjusted Eurodollar Rate in respect of the Interest Period for any Eurodollar Rate Advance, the any Lender determines (which determination shall be conclusive and binding, absent error) that:
(a) deposits in dollars (in the applicable amount) are not being made available to the such Lender in the relevant market for such Interest Periodmarket, or
(b) the Adjusted Eurodollar Rate will not adequately and fairly reflect the cost to the such Lender of funding or maintaining Eurodollar Rate Advances for Rate, such Interest Period, the Lender shall forthwith give notice to the Borrower and the other Lenders of such determination, whereupon the obligation of the such Lender to make or continuemake, or to convert any Advances to, Eurodollar Rate Advances, as the case may be, Advances shall be suspended until the such Lender notifies the Borrower and the Agent that the circumstances giving rise to such suspension no longer exist. While any such suspension continues, all further Advances by the such Lender shall be made as Reference Rate Advanceswith an interest rate option to which such suspension does not apply. No such suspension shall affect the interest rate then in effect during the applicable Interest Period for any Eurodollar Rate Advance outstanding at the time such suspension is imposed.
Appears in 1 contract
INTEREST RATE NOT ASCERTAINABLE, ETC. If, on or prior to the date for determining the Adjusted Eurodollar Rate in respect of the Interest Period for any Eurodollar Rate Advance, the Lender Bank determines (which determination shall be conclusive and binding, absent error) that:
(a) deposits in dollars (in the applicable amount) are not being made available to the Lender Bank in the relevant market for such Interest Period, or
(b) the Adjusted Eurodollar Rate Rate, as the case may be, will not adequately and fairly reflect the cost to the Lender Bank of funding or maintaining Eurodollar Rate Advances for such Interest Period, the Lender Bank shall forthwith give notice to the Borrower of such determination, whereupon the obligation of the Lender Bank to make or continue, or to convert any Advances to, Eurodollar Rate Advances, as the case may be, Advances shall be suspended until the Lender Bank notifies the Borrower that the circumstances giving rise to such suspension no longer exist. While any such suspension continues, all further Advances by the Lender Bank shall be made as Reference Rate Advances. No such suspension shall affect the interest rate then in effect during the applicable Interest Period for any Eurodollar Rate Advance outstanding at the time such suspension is imposed.
Appears in 1 contract
Samples: Credit Agreement (Norstan Inc)
INTEREST RATE NOT ASCERTAINABLE, ETC. If, on or prior to the date for determining the Adjusted Eurodollar Rate in respect of the Interest Period for any Eurodollar Rate Advance, the Lender determines (which determination shall be conclusive and binding, absent error) that:
(a) deposits in dollars (in the applicable amount) are not being made available to the Lender in the relevant market for such Interest Period, or
(b) the Adjusted Eurodollar Rate will not adequately and fairly reflect the cost to the Lender of funding or maintaining Eurodollar Rate Advances for such Interest Period, the Lender shall forthwith give notice to the Borrower of such determination, whereupon the obligation of the Lender to make or continue, or to convert any Advances to, Eurodollar Rate Advances, as the case may be, shall be suspended until the Lender notifies the Borrower that the circumstances giving rise to such suspension no longer exist. While any such suspension continues, all further Advances by the Lender shall be made as Reference Rate Advances. No such suspension shall affect the interest rate then in effect during the applicable Interest Period for any Eurodollar Rate Advance outstanding at the time such suspension is imposed.the
Appears in 1 contract
INTEREST RATE NOT ASCERTAINABLE, ETC. If, on or prior to the date for determining the Fixed Adjusted Eurodollar Rate in respect of the Interest Period for any requested Fixed Eurodollar Rate Advance, the Lender a Bank determines (which determination shall be conclusive and binding, absent manifest error) that:
(a) deposits in dollars (in the applicable amount) are not being made available to the Lender such Bank in the relevant market for such Interest Period, or
(b) the Fixed Adjusted Eurodollar Rate Rate, as the case may be, will not adequately and fairly reflect the cost to the Lender such Bank of funding or maintaining Fixed Eurodollar Rate Advances Advances, as the case may be, for such Interest Period, the Lender such Bank shall forthwith give notice to the Borrower Company and the Agent of such determination, whereupon the obligation of the Lender such Bank to make or continue, or to convert any Advances to, Fixed Eurodollar Rate Advances, as the case may be, shall be suspended until the Lender such Bank notifies the Borrower Company and the Agent that the circumstances giving rise to such suspension no longer exist. While any such suspension continues, all further Advances by the Lender shall be made as Reference Rate Advances. No such suspension shall affect the interest rate then in effect during the applicable Interest Period for any Fixed Eurodollar Rate Advance outstanding at the time such suspension is imposed.
Appears in 1 contract
INTEREST RATE NOT ASCERTAINABLE, ETC. If, on or prior to the date for determining the Adjusted Eurodollar Rate in respect of the Interest Period for any Eurodollar Rate Advance, the any Lender determines (which determination shall be conclusive and binding, absent error) that:
(a) deposits in dollars (in the applicable amount) are not being made available to the such Lender in the relevant market for such Interest Period, or
(b) the Adjusted Eurodollar Rate will not adequately and fairly reflect the cost to the such Lender of funding or maintaining Eurodollar Rate Advances for such Interest Period, the then such Lender shall forthwith give notice to the Borrower of such determination, whereupon the obligation of the such Lender to make or continue, or to convert any Advances to, Eurodollar Rate Advances, as the case may be, Advances shall be suspended until the such Lender notifies the Borrower that the circumstances giving rise to such suspension no longer exist. While any such suspension continues, all further Advances by the such Lender shall be made as Reference Rate Advances. No such suspension shall affect the interest rate then in effect during the applicable Interest Period for any Eurodollar Rate Advance outstanding at the time such suspension is imposed.
Appears in 1 contract
INTEREST RATE NOT ASCERTAINABLE, ETC. If, on or prior to the date for determining the Adjusted Eurodollar Rate in respect of the Interest Period for any Eurodollar Rate Advance, the Lender Bank determines (which determination shall be conclusive and binding, absent error) that:
(a) deposits in dollars (in the applicable amount) are not being made available to the Lender Bank in the relevant market for such Interest Period, or
(b) the Adjusted Eurodollar Rate will not adequately and fairly reflect the cost to the Lender Bank of funding or maintaining Eurodollar Rate Advances for such Interest Period, the Lender Bank shall forthwith give notice to the Borrower of such determination, whereupon the obligation of the Lender Bank to make or continue, or to convert any portion of the Advances to, Eurodollar Rate Advances, as the case may be, shall be suspended until the Lender Bank notifies the Borrower that the circumstances giving rise to such suspension no longer exist. While any such suspension continues, all further Advances by the Lender Bank shall be made as Reference Rate Advanceswith an interest rate option to which such suspension does not apply. No such suspension shall affect the interest rate then in effect during the applicable Interest Period for any Eurodollar Rate Advance Advances outstanding at the time such suspension is imposed.
Appears in 1 contract
Samples: Credit Agreement (Sunrise International Leasing Corp)
INTEREST RATE NOT ASCERTAINABLE, ETC. If, on or prior to the date for determining the Adjusted Eurodollar LIBOR Rate in respect of the Interest Period for any Eurodollar Rate AdvanceLoan, the Lender determines (which determination shall be conclusive and binding, absent manifest error) that:
(a) that deposits in dollars (in the applicable amount) are not being made available to the Lender in the relevant market for such Interest Period, or
(b) the Adjusted Eurodollar Rate will not adequately and fairly reflect the cost to the Lender of funding or maintaining Eurodollar Rate Advances for such Interest Period, the Lender shall forthwith give notice thereof to the Borrower of such determination, whereupon the obligation of the Lender to make or continue, or to convert continue any Advances to, Eurodollar Loans at the LIBOR Rate Advances, as the case may be, shall be suspended until the Lender notifies the Borrower that the circumstances giving rise to such suspension no longer exist. While any such suspension continues, all further Advances Loans by the Lender shall be made as Reference Rate Advancesat an alternate floating rate reasonably quoted from time to time by the Lender plus the Applicable Margin. No such suspension shall affect the interest rate then in effect during the applicable Interest Period for any Eurodollar Rate Advance Loan outstanding at the time such suspension is imposed.
Appears in 1 contract
INTEREST RATE NOT ASCERTAINABLE, ETC. If, on or prior to ------------------------------------ the date for determining the Fixed Adjusted Eurodollar Rate in respect of the Interest Period for any requested Fixed Eurodollar Rate Advance, the Lender a Bank determines (which determination shall be conclusive and binding, absent manifest error) that:
(a) deposits in dollars (in the applicable amount) are not being made available to the Lender such Bank in the relevant market for such Interest Period, or
(b) the Fixed Adjusted Eurodollar Rate Rate, as the case may be, will not adequately and fairly reflect the cost to the Lender such Bank of funding or maintaining Fixed Eurodollar Rate Advances Advances, as the case may be, for such Interest Period, the Lender such Bank shall forthwith give notice to the Borrower Company and the Agent of such determination, whereupon the obligation of the Lender such Bank to make or continue, or to convert any Advances to, Fixed Eurodollar Rate Advances, as the case may be, shall be suspended until the Lender such Bank notifies the Borrower Company and the Agent that the circumstances giving rise to such suspension no longer exist. While any such suspension continues, all further Advances by the Lender shall be made as Reference Rate Advances. No such suspension shall affect the interest rate then in effect during the applicable Interest Period for any Fixed Eurodollar Rate Advance outstanding at the time such suspension is imposed.
Appears in 1 contract
INTEREST RATE NOT ASCERTAINABLE, ETC. If, on or prior to the date for determining the Adjusted Eurodollar Rate in respect of the Interest Period for any Eurodollar Rate Advance, the Lender Bank determines (which determination shall be conclusive and binding, absent manifest error) that:
(a) deposits in dollars (in the applicable amount) are not being made available to the Lender Bank in the relevant market for such Interest Period, or
(b) the Adjusted Eurodollar Rate Rate, as the case may be, will not adequately and fairly reflect the cost to the Lender Bank of funding or maintaining Eurodollar Rate Advances for such Interest Period, the Lender Bank shall forthwith give notice to the Borrower of such determination, whereupon the obligation of the Lender Bank to make or continue, or to convert any Advances to, Eurodollar Rate Advances, as the case may be, Advances shall be suspended until the Lender Bank notifies the Borrower that the circumstances giving rise to such suspension no longer exist. While any such suspension continues, all further Advances by the Lender Bank shall be made as Reference Rate Advances or Negotiated Rate Advances. No such suspension shall affect the interest rate then in effect during the applicable Interest Period for any Eurodollar Rate Advance outstanding at the time such suspension is imposed.
Appears in 1 contract
Samples: Credit Agreement (RTW Inc /Mn/)
INTEREST RATE NOT ASCERTAINABLE, ETC. If, on or prior to the date for determining the Adjusted Eurodollar LIBOR Rate in respect of the Interest Period for any Eurodollar Rate AdvanceLoan, the Lender determines (which determination shall be conclusive and binding, absent manifest error) that:
(a) that deposits in dollars (in the applicable amount) are not being made available to the Lender in the relevant market for such Interest Period, or
(b) the Adjusted Eurodollar Rate will not adequately and fairly reflect the cost to the Lender of funding or maintaining Eurodollar Rate Advances for such Interest Period, the Lender shall forthwith give notice thereof to the Borrower of such determination, whereupon the obligation of the Lender to make or continue, or to convert continue any Advances to, Eurodollar Loans at the LIBOR Rate Advances, as the case may be, shall be suspended until the Lender notifies the Borrower that the circumstances giving rise to such suspension no longer exist. While any such suspension continues, all further Advances Loans by the Lender shall be made as Reference Rate Advancesat an alternate floating rate reasonably quoted from time to time by the Lender plust the Applicable Margin. No such suspension shall affect the interest rate then in effect during the applicable Interest Period for any Eurodollar Rate Advance Loan outstanding at the time such suspension is imposed.
Appears in 1 contract
Samples: Credit Agreement (Gaming Partners International CORP)
INTEREST RATE NOT ASCERTAINABLE, ETC. If, on or prior to the date for determining the Adjusted adjusted Eurodollar Rate in respect of the Interest Period for any Eurodollar Rate Advance, the Lender determines (which determination shall be conclusive and binding, absent error) that:
(a) deposits in dollars (in the applicable amount) are not being made available to the Lender in the relevant market for such Interest Periodmarket, or
(b) the Adjusted Eurodollar Rate will not adequately and fairly reflect the cost to the Lender of funding or maintaining Eurodollar Rate Advances for such Interest PeriodAdvances, the Lender shall forthwith give notice to the Borrower of such determination, whereupon the obligation of the Lender to make or continue, or to convert any Advances to, Eurodollar Rate Advances, as the case may be, shall be suspended until the Lender notifies the Borrower that the circumstances giving rise to such suspension no longer exist. While any such suspension continues, all further Advances by the Lender shall be made as Reference Rate Advances. No such suspension shall affect the interest rate then in effect during the applicable Interest Period for any Advances and all existing Eurodollar Rate Advance outstanding at the time such suspension is imposedAdvances shall be converted to Reference Rate Advances.
Appears in 1 contract
INTEREST RATE NOT ASCERTAINABLE, ETC. If, on or prior to the date for determining the Adjusted Eurodollar Rate in respect of the Interest Period for any Eurodollar Rate Advance, the Lender any Bank determines (which determination shall be conclusive and binding, absent error) that:
(a) deposits in dollars (in the applicable amount) are not being made available to the Lender such Bank in the relevant market for such Interest Period, or
(b) the Adjusted Eurodollar Rate will not adequately and fairly reflect the cost to the Lender such Bank of funding or maintaining Eurodollar Rate Advances for such Interest Period, the Lender 11/27/00 Five Year Credit Agreement 17 18 such Bank shall forthwith give notice to the Borrower and the other Banks of such determination, whereupon the obligation of the Lender such Bank to make or continue, or to convert any Advances to, Eurodollar Rate Advances, as the case may be, Advances shall be suspended until the Lender such Bank notifies the Borrower and the Agent that the circumstances giving rise to such suspension no longer exist. While any such suspension continues, all further Advances by the Lender such Bank shall be made as Reference Base Rate Advances. No such suspension shall affect the interest rate then in effect during the applicable Interest Period for any Eurodollar Rate Advance outstanding at the time such suspension is imposed.
Appears in 1 contract
INTEREST RATE NOT ASCERTAINABLE, ETC. If, on or prior to the date for determining the Adjusted Eurodollar Rate in respect of the Interest Period for any Eurodollar Rate Advance, the any Lender determines (which determination shall be conclusive and binding, absent manifest error) that:
(a) deposits in dollars (in the applicable amount) are not being made available to the such Lender in the relevant market for such Interest Period, or
(b) the Adjusted Eurodollar Rate will not adequately and fairly reflect the cost to the such Lender of funding or maintaining Eurodollar Rate Advances for such Interest Period, the such Lender shall forthwith give notice to the Borrower and the other Lenders of such determination, whereupon the obligation of the such Lender to make or continue, or to convert any Advances to, to Eurodollar Rate Advances, as the case may be, Advances shall be suspended until the such Lender notifies the Borrower and the Agent that the circumstances giving rise to such suspension no longer exist. While any such suspension continues, all further Advances by the such Lender shall be made as Reference Rate Advanceswith an interest rate option to which such suspension does not apply. No such suspension shall affect the interest rate then in effect during the applicable Interest Period for any Eurodollar Rate Advance outstanding at the time such suspension is imposed.
Appears in 1 contract
INTEREST RATE NOT ASCERTAINABLE, ETC. If, on or prior to the date for determining the Adjusted Eurodollar Rate in respect of the Interest Period for any Eurodollar Rate Advance, the Lender any Bank determines (which determination shall be conclusive and binding, absent error) that:
(a) deposits in dollars (in the applicable amount) are not being made available to the Lender such Bank in the relevant market for such Interest Period, or
(b) the Adjusted Eurodollar Rate will not adequately and fairly reflect the cost to the Lender such Bank of funding or maintaining Eurodollar Rate Advances for such Interest Period, the Lender such Bank shall forthwith give notice to the Borrower and the other Banks of such determination, whereupon the obligation of the Lender such Bank to make or continue, or to convert any Advances to, Eurodollar Rate Advances, as the case may be, Advances shall be suspended until the Lender such Bank notifies the Borrower and the Agent that the circumstances giving rise to such suspension no longer exist. While any such suspension continues, all further Advances by the Lender such Bank shall be made as Reference Rate Advances. No such suspension shall affect the interest rate then in effect during the applicable Interest Period for any Eurodollar Rate Advance outstanding at the time such suspension is imposed.
Appears in 1 contract
Samples: Credit Agreement (Graco Inc)
INTEREST RATE NOT ASCERTAINABLE, ETC. If, on or prior to the date for determining the Adjusted Eurodollar Rate in respect of the Interest Period for any Eurodollar Rate Advance, the Lender any Bank determines (which determination shall be conclusive and binding, absent error) that:
(a) deposits in dollars (in the applicable amount) are not being made available to the Lender such Bank in the relevant market for such Interest Period, or
(b) the Adjusted Eurodollar Rate will not adequately and fairly reflect the cost to the Lender such Bank of funding or maintaining Eurodollar Rate Advances for such Interest Period, the Lender 11/27/00 364 Day Credit Agreement 17 18 such Bank shall forthwith give notice to the Borrower and the other Banks of such determination, whereupon the obligation of the Lender such Bank to make or continue, or to convert any Advances to, Eurodollar Rate Advances, as the case may be, Advances shall be suspended until the Lender such Bank notifies the Borrower and the Agent that the circumstances giving rise to such suspension no longer exist. While any such suspension continues, all further Advances by the Lender such Bank shall be made as Reference Base Rate Advances. No such suspension shall affect the interest rate then in effect during the applicable Interest Period for any Eurodollar Rate Advance outstanding at the time such suspension is imposed.
Appears in 1 contract
Samples: 364 Day Revolving Credit Agreement (Alleghany Corp /De)
INTEREST RATE NOT ASCERTAINABLE, ETC. If, on or prior to the date for determining the Adjusted Eurodollar Rate in respect of the Interest Period for Period, any Eurodollar Rate Advance, the Lender reasonably determines (which determination shall be conclusive and binding, absent error) that:
(a) deposits in dollars U.S. Dollars (in the applicable amount) are not being made available to the such Lender in the relevant market for such Interest Period, or
(b) the Adjusted Eurodollar Rate will not adequately and fairly reflect the cost to the such Lender of funding or maintaining Eurodollar Offshore Rate Advances Loans for such Interest Period, the such Lender shall forthwith give notice to the Borrower Agent and the Company and the other Lenders of such determination, whereupon the obligation of the such Lender to make or continue, or to convert any Advances to, Eurodollar Offshore Rate Advances, as the case may be, Loans shall be suspended until the such Lender notifies the Borrower Company and the Agent that the circumstances giving rise to such suspension no longer exist. While any such suspension continues, all further Advances by the such Lender shall be made as Reference Prime Rate Advances. No such suspension shall affect the interest rate then in effect during the applicable Interest Period for any Eurodollar Offshore Rate Advance Loan outstanding at the time such suspension is imposed.
Appears in 1 contract