Common use of Interest Rate Not Ascertainable Clause in Contracts

Interest Rate Not Ascertainable. If Agent shall determine that on any date for determining LIBOR, due to any circumstance affecting the London interbank market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein, then Agent shall immediately notify Borrowers of such determination. Until Agent notifies Borrowers that such circumstance no longer exists, the obligation of Lenders to make LIBOR Loans shall be suspended, and no further Loans may be converted into or continued as LIBOR Loans.

Appears in 47 contracts

Samples: Credit Agreement (Covenant Logistics Group, Inc.), Loan and Security Agreement (Summer Infant, Inc.), Loan and Security Agreement (U.S. Concrete, Inc.)

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Interest Rate Not Ascertainable. If Agent shall determine that on any date for determining LIBOR, due to any circumstance affecting the London interbank market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein, then Agent shall immediately notify Borrowers Borrower of such determination. Until Agent notifies Borrowers Borrower that such circumstance no longer exists, the obligation of Lenders to make LIBOR Loans shall be suspended, and no further Loans may be converted into or continued as LIBOR Loans.

Appears in 18 contracts

Samples: Loan Agreement (Cooper-Standard Holdings Inc.), Loan and Security Agreement (Ak Steel Holding Corp), Loan Agreement (Cooper-Standard Holdings Inc.)

Interest Rate Not Ascertainable. If Agent shall determine that on any date for determining Adjusted LIBOR, due to any circumstance affecting the London interbank market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein, then Agent shall immediately notify Borrowers of such determination. Until Agent notifies Borrowers that such circumstance no longer exists, the obligation of Lenders to make LIBOR Loans shall be suspended, and no further Loans may be converted into or continued as LIBOR Loans.

Appears in 8 contracts

Samples: Loan and Security Agreement (Bon Ton Stores Inc), Loan and Security Agreement (Bon Ton Stores Inc), Loan and Security Agreement (EMAK Worldwide, Inc.)

Interest Rate Not Ascertainable. If Agent shall determine that on any date for determining LIBORIf, due to any circumstance affecting the London interbank market, Agent determines that adequate and fair means do not exist for ascertaining such rate LIBOR on any applicable date or that any Interest Period is not available on the basis provided herein, then Agent shall immediately notify Borrowers of such determination. Until Agent notifies Borrowers that such circumstance no longer exists, the obligation of Lenders to make affected LIBOR Loans shall be suspended, suspended and no further Loans may be converted into or continued as such LIBOR Loans.

Appears in 7 contracts

Samples: Loan and Security Agreement (Hydrofarm Holdings Group, Inc.), Loan and Security Agreement (Northwest Pipe Co), Loan and Security Agreement (Skechers Usa Inc)

Interest Rate Not Ascertainable. If Agent shall determine that on any date for determining LIBOR, due to any circumstance affecting the London interbank market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein, then Agent shall immediately notify Borrowers of such determination. Until Agent notifies Borrowers that such circumstance no longer exists, the obligation of Lenders to make LIBOR Revolver Loans shall be suspended, and no further Revolver Loans may be converted into or continued as LIBOR Revolver Loans.

Appears in 5 contracts

Samples: Loan and Security Agreement (Conns Inc), Loan and Security Agreement (Conns Inc), Loan and Security Agreement (Kemet Corp)

Interest Rate Not Ascertainable. If Agent shall determine that on any date for determining LIBOR, due to any circumstance affecting the London interbank market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein, then Agent shall immediately notify Borrowers of such determination. Until Agent notifies Borrowers that such circumstance no longer exists, the obligation of Lenders to make LIBOR Loans shall be suspended, and no further Revolver Loans may be converted into or continued as LIBOR Loans.

Appears in 4 contracts

Samples: Loan and Security Agreement (Americas Carmart Inc), Loan and Security Agreement (Americas Carmart Inc), Loan and Security Agreement (Spansion Inc.)

Interest Rate Not Ascertainable. If Agent shall determine that on any date for determining LIBOR, due to any circumstance affecting the London interbank market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein, then Agent shall immediately notify Borrowers of such determination. Until Agent notifies Borrowers that such circumstance no longer exists, the obligation of Lenders to make LIBOR Loans shall be suspended, and no further Loans may be converted into or continued as LIBOR Loans. 3.2.

Appears in 3 contracts

Samples: Loan and Security Agreement (Us Concrete Inc), Loan and Security Agreement (Us Concrete Inc), Loan and Security Agreement (Us Concrete Inc)

Interest Rate Not Ascertainable. If Agent shall determine that on any date for determining LIBORIf, due to any circumstance affecting the London interbank market, Agent determines that adequate and fair means do not exist for ascertaining such rate LIBOR on any applicable date or any Interest Period is not available on the basis provided herein, then Agent shall immediately notify Borrowers of such determination. Until Agent notifies Borrowers that such circumstance no longer exists, the obligation of Lenders to make affected LIBOR Loans shall be suspended, suspended and no further Loans may be converted into or continued as such LIBOR Loans.

Appears in 3 contracts

Samples: Loan Agreement (School Specialty Inc), Loan Agreement (School Specialty Inc), Loan Agreement (School Specialty Inc)

Interest Rate Not Ascertainable. If Agent shall determine that on any date for determining LIBOR, due to any circumstance affecting the London interbank market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein, then Agent shall immediately notify Borrowers Borrower Agent of such determination. Until Agent notifies Borrowers Borrower Agent that such circumstance no longer exists, the obligation of Lenders to make LIBOR Loans shall be suspended, and no further Loans may be converted into or continued as LIBOR Loans.

Appears in 3 contracts

Samples: Loan, Guaranty and Security Agreement (Sanmina-Sci Corp), Loan and Security Agreement (Frozen Food Express Industries Inc), Loan, Guaranty and Security Agreement (Sanmina-Sci Corp)

Interest Rate Not Ascertainable. If Agent shall reasonably determine that on any date for determining LIBOR, due to any circumstance affecting the London interbank market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein, then Agent shall immediately notify Borrowers of such determination. Until Agent notifies Borrowers that such circumstance no longer exists, the obligation of Lenders to make LIBOR Loans shall be suspended, and no further Loans may be converted into or continued as LIBOR Loans.

Appears in 2 contracts

Samples: Loan and Security Agreement (American Vanguard Corp), First Lien Loan and Security Agreement (Duckhorn Portfolio, Inc.)

Interest Rate Not Ascertainable. If Agent shall determine that on any date for determining LIBORIf, due to any circumstance affecting the London interbank market, Agent reasonably determines that adequate and fair means do not exist for ascertaining such rate LIBOR on any applicable date or that any Interest Period is not available on the basis provided herein, then Agent shall immediately notify Borrowers of such determination. Until Agent notifies Borrowers that such circumstance no longer exists, the obligation of Lenders to make affected LIBOR Loans shall be suspended, suspended and no further Loans may be converted into or continued as such LIBOR Loans.

Appears in 2 contracts

Samples: Guaranty and Security Agreement (Inari Medical, Inc.), Loan and Security Agreement (Calix, Inc)

Interest Rate Not Ascertainable. If the Agent shall determine that on any date for determining LIBOR, due to any circumstance affecting the London interbank market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein, then the Agent shall immediately notify the Borrowers of such determination. Until the Agent notifies the Borrowers that such circumstance no longer exists, the obligation of the Lenders to make LIBOR Revolving Loans shall be suspended, and no further Revolving Loans may be converted into or continued as LIBOR Revolving Loans.

Appears in 2 contracts

Samples: Loan and Security Agreement (Amkor Technology Inc), Loan and Security Agreement (Amkor Technology Inc)

Interest Rate Not Ascertainable. If Agent shall determine that on any date for determining LIBORIf, due to any circumstance affecting the London interbank market, Agent determines that adequate and fair means do not exist for ascertaining such rate LIBOR on any applicable date or that any Interest Period is not available on the basis provided herein, then Agent shall immediately notify Borrowers of such determination. Until Agent notifies Borrowers that such circumstance no longer exists, the obligation of Lenders to make affected LIBOR Loans shall be suspended, suspended and no further Revolver Loans may be converted into or continued as LIBOR Loans.

Appears in 2 contracts

Samples: Loan and Security Agreement (Mynd.ai, Inc.), Loan and Security Agreement (Americas Carmart Inc)

Interest Rate Not Ascertainable. If Subject to Section 3.1.5, if Agent shall determine that on any date for determining LIBOR, due to any circumstance affecting the London interbank market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein, then Agent shall immediately notify Borrowers of such determination. Until Subject to Section 3.1.5, until Agent notifies Borrowers that such circumstance no longer exists, the obligation of Lenders to make LIBOR Loans shall be suspended, and no further Loans may be converted into or continued as LIBOR Loans.

Appears in 2 contracts

Samples: Loan and Security Agreement (Bespoke Capital Acquisition Corp), Loan and Security Agreement (Bespoke Capital Acquisition Corp)

Interest Rate Not Ascertainable. If Agent shall determine that on any date for determining LIBOR, due to any circumstance affecting the London interbank market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein, then Agent shall immediately notify Borrowers of such determination. Until Agent notifies Borrowers that such circumstance no longer existsexists (which notification Agent agrees to give promptly), the obligation of Lenders to make additional LIBOR Loans shall be suspended, and no further Loans may be converted into or continued as LIBOR Loans.

Appears in 2 contracts

Samples: Loan and Security Agreement (Movado Group Inc), Loan and Security Agreement (Movado Group Inc)

Interest Rate Not Ascertainable. If Agent shall determine that on any date for determining the Adjusted LIBOR, due to any circumstance affecting the London interbank market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein, then Agent shall immediately notify Borrowers of such determination. Until Agent notifies Borrowers that such circumstance no longer exists, the obligation of Lenders to make LIBOR Loans shall be suspended, and no further Loans may be converted into or continued as LIBOR Loans.

Appears in 2 contracts

Samples: Credit Agreement (Calumet Specialty Products Partners, L.P.), Credit Agreement (Calumet Specialty Products Partners, L.P.)

Interest Rate Not Ascertainable. If Agent shall determine that on any date for determining LIBORIf, due to any circumstance affecting the London interbank market, Agent determines that adequate and fair means do not exist for ascertaining such rate LIBOR on the basis provided hereinany applicable date, then Agent shall immediately notify Borrowers of such determination. Until Agent notifies Borrowers that such circumstance no longer exists, the obligation of Lenders to make affected LIBOR Loans shall be suspended, and no further Loans may be converted into or continued as LIBOR Loans.

Appears in 2 contracts

Samples: Loan and Security Agreement (Super Micro Computer, Inc.), Loan and Security Agreement (Super Micro Computer, Inc.)

Interest Rate Not Ascertainable. If Subject to Section 3.1.5, if Agent shall reasonably determine that on any date for determining LIBOR, due to any circumstance affecting the London interbank market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein, then Agent shall immediately notify Borrowers of such determination. Until Subject to Section 3.1.5, until Agent notifies Borrowers that such circumstance no longer exists, the obligation of Lenders to make LIBOR Loans shall be suspended, and no further Loans may be converted into or continued as LIBOR Loans.

Appears in 2 contracts

Samples: First Lien Loan and Security Agreement (Duckhorn Portfolio, Inc.), First Lien Loan and Security Agreement (Duckhorn Portfolio, Inc.)

Interest Rate Not Ascertainable. If Agent shall determine that on any date for determining LIBOR, due to any circumstance affecting the London interbank market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein, then Agent shall immediately notify Borrowers of such determination. Until Agent notifies Borrowers Borrower Representative that such circumstance no longer exists, the obligation of Lenders to make LIBOR Revolver Loans shall be suspended, and no further Loans may be converted into or continued as LIBOR Revolver Loans.

Appears in 2 contracts

Samples: Credit Agreement (Apparel Holding Corp.), Credit Agreement (Apparel Holding Corp.)

Interest Rate Not Ascertainable. If Subject to Section 3.1.5, if Agent shall reasonably determine that on any date for determining LIBOR, due to any circumstance affecting the London interbank market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein, then Agent shall immediately notify Borrowers of such determination. Until Subject to Section 3.1.5, until Agent notifies Borrowers that such circumstance no longer exists, the obligation of Lenders to make LIBOR Loans shall be suspended, and no further Loans may be converted into or continued as LIBOR Loans.

Appears in 1 contract

Samples: First Lien Loan and Security Agreement (Duckhorn Portfolio, Inc.)

Interest Rate Not Ascertainable. If Agent shall determine that on any date for determining LIBORIf, due to any circumstance affecting the London interbank market, Agent determines that adequate and fair means do not exist for ascertaining such rate LIBOR on any applicable date or that any Interest Period is not available on the basis provided herein, then Agent shall immediately notify Borrowers Borrower of such determination. Until Agent notifies Borrowers Borrower that such circumstance no longer exists, the obligation of Lenders to make affected LIBOR Loans shall be suspended, suspended and no further Revolver Loans may be converted into or continued as such LIBOR Loans.

Appears in 1 contract

Samples: Loan and Security Agreement (Vizio Holding Corp.)

Interest Rate Not Ascertainable. If the Agent shall determine that on any date for determining LIBOR, due to any circumstance affecting the London interbank market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein, then the Agent shall immediately notify the Borrowers of such determination. Until the Agent notifies the Borrowers that such circumstance no longer exists, the obligation of the Lenders to make LIBOR Loans shall be suspended, and no further Loans may be converted into or continued as LIBOR Loans.

Appears in 1 contract

Samples: Loan and Security Agreement (Telx Group, Inc.)

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Interest Rate Not Ascertainable. If Agent shall determine that on any date for determining LIBORIf, due to any circumstance affecting the London interbank market, Agent determines that adequate and fair means do not exist for ascertaining such rate LIBOR on any applicable date or that any Interest Period is not available on the basis provided herein, then Agent shall immediately notify Borrowers of such determination. Until Agent notifies Borrowers that such circumstance no longer exists, the obligation of Lenders to make affected LIBOR Loans shall be suspended, suspended and no further Revolver Loans may be converted into or continued as LIBOR Loans.

Appears in 1 contract

Samples: Loan and Security Agreement (Americas Carmart Inc)

Interest Rate Not Ascertainable. If Agent shall determine that on any date for determining LIBOR, due to any circumstance affecting the London interbank market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein, then Agent shall immediately notify Borrowers of such determination. Until Agent notifies Borrowers that such circumstance no longer BN 6747822v16 exists, the obligation of Lenders to make LIBOR Loans shall be suspended, and no further Revolver Loans may be converted into or continued as LIBOR Loans.

Appears in 1 contract

Samples: Loan and Security Agreement (Americas Carmart Inc)

Interest Rate Not Ascertainable. If Administrative Agent shall determine in good faith that on any date for determining LIBOR, due to any circumstance affecting the London interbank market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein, then Administrative Agent shall immediately notify Borrowers Borrower Agent of such determination. Until Administrative Agent notifies Borrowers Borrower Agent that such circumstance no longer exists, the obligation of Lenders to make LIBOR Loans shall be suspended, and no further Loans may be converted into or continued as LIBOR Loans.

Appears in 1 contract

Samples: Loan and Security Agreement (Spectrum Brands, Inc.)

Interest Rate Not Ascertainable. If Agent shall determine in its Credit Judgment that on any date for determining LIBOR, due to any circumstance affecting the London interbank market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein, then Agent shall immediately notify Borrowers of such determination. Until Agent notifies Borrowers that such circumstance no longer exists, the obligation of Lenders to make LIBOR Loans shall be suspended, and no further Loans may be converted into or continued as LIBOR Loans.

Appears in 1 contract

Samples: Loan and Security Agreement (Steinway Musical Instruments Inc)

Interest Rate Not Ascertainable. If Agent shall determine that on any date for determining LIBOR, due to any circumstance affecting the London interbank eurodollar market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein, then Agent shall immediately notify Borrowers of such determination. Until Agent notifies Borrowers that such circumstance no longer exists, the obligation of Lenders to make LIBOR Loans shall be suspended, and no further Loans may be converted into or continued as LIBOR Loans.

Appears in 1 contract

Samples: Credit and Security Agreement (Titan International Inc)

Interest Rate Not Ascertainable. If Agent shall determine that on any date for determining LIBORIf, due to any circumstance affecting the London interbank market, Agent determines that adequate and fair means do not exist for ascertaining such rate LIBOR on any applicable date or that any Interest Period is not available on the basis provided herein, then Agent shall immediately notify Borrowers the Borrower of such determination. Until Agent notifies Borrowers the Borrower that such circumstance no longer exists, the obligation of the Lenders to make affected LIBOR Loans shall be suspended, suspended and no further Loans may be converted into or continued as such LIBOR Loans.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Key Energy Services Inc)

Interest Rate Not Ascertainable. If Agent shall determine that on any date for determining Adjusted LIBOR, due to any circumstance affecting the London interbank market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein, then Agent shall immediately notify Borrowers of such determination. Until Agent notifies Borrowers Borrower Representative that such circumstance no longer exists, the obligation of Lenders to make LIBOR Revolver Loans shall be suspended, and no further Loans may be converted into or continued as LIBOR Revolver Loans.

Appears in 1 contract

Samples: Loan and Security Agreement (Kellwood Co)

Interest Rate Not Ascertainable. If Agent shall determine that on any date for determining LIBOR, due to any circumstance affecting the London interbank market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein, then Agent shall immediately notify Borrowers Borrower Agent of such determinationdetermination and all LIBOR Index Loans shall be converted to Base Rate Loans. Until Agent notifies Borrowers Borrower Agent that such circumstance no longer exists, the obligation of Lenders to make LIBOR all future Loans shall will be suspended, and no further Loans may be converted into or continued as LIBOR Base Rate Loans.

Appears in 1 contract

Samples: Loan and Security Agreement (SWK Holdings Corp)

Interest Rate Not Ascertainable. If Agent shall determine that on any date for determining LIBORIf, due to any circumstance affecting the London interbank market, Agent determines that adequate and fair means do not exist for ascertaining such rate LIBOR on any applicable date or that any Interest Period is not available on the basis provided herein, then Agent shall immediately notify Borrowers of such determination. Until Agent notifies Borrowers that such circumstance no longer exists, the obligation of Lenders to make affected LIBOR Revolver Loans shall be suspended, suspended and no further Revolver Loans may be converted into or continued as such LIBOR Revolver Loans.

Appears in 1 contract

Samples: Credit Agreement (Wausau Paper Corp.)

Interest Rate Not Ascertainable. If Agent shall determine that on any date for determining LIBORIf, due to any circumstance affecting the London interbank market, Agent determines, reasonably and in good faith, that adequate and fair means do not exist for ascertaining such rate LIBO Rate on any applicable date or that any Interest Period is not available on the basis provided herein, then Agent shall immediately notify Borrowers of such determination. Until Agent notifies Borrowers that such circumstance no longer exists, the obligation of Lenders to make affected LIBOR Loans shall be suspended, suspended and no further Loans may be converted into or continued as such LIBOR Loans.

Appears in 1 contract

Samples: Loan, Security and Guarantee Agreement (GEE Group Inc.)

Interest Rate Not Ascertainable. If Agent shall determine that on any date for determining Adjusted LIBOR, due to any circumstance affecting the London interbank market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein, then Agent shall immediately notify Borrowers of such determinationdetermination or Agent shall determine that Adjusted LIBOR should be based on the Offshore Base Rate. Until Agent notifies Borrowers that such circumstance no longer exists, the obligation of Lenders to make LIBOR Loans shall be suspended, and no further Loans may be converted into or continued as LIBOR Loans.

Appears in 1 contract

Samples: Loan and Security Agreement (Global Crossing LTD)

Interest Rate Not Ascertainable. If the Agent shall determine that on any date for determining the Adjusted LIBOR, due to any circumstance affecting the London interbank market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein, then the Agent shall immediately notify the Borrowers of such determination. Until the Agent notifies the Borrowers that such circumstance no longer exists, the obligation of the Lenders to make LIBOR Revolving Loans shall be suspended, and no further Revolving Loans may be converted into or continued as LIBOR Revolving Loans.

Appears in 1 contract

Samples: Loan and Security Agreement (Amkor Technology Inc)

Interest Rate Not Ascertainable. If Agent shall determine in good faith that on any date for determining the Adjusted LIBOR, due to any circumstance affecting the London interbank market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein, then Agent shall immediately notify Borrowers (by telephone confirmed in writing) of such determination. Until Agent notifies Borrowers that such circumstance no longer existsexists (notice of which determination shall promptly by delivered to Borrower Agent), the obligation of Lenders to make LIBOR Loans shall be suspended, and no further Loans may be converted into or continued as LIBOR Loans.

Appears in 1 contract

Samples: Loan and Security Agreement (Superior Essex Inc)

Interest Rate Not Ascertainable. If Agent shall determine that on any date for determining Adjusted LIBOR, due to any circumstance affecting the London interbank market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein, then Agent shall immediately notify Borrowers of such determination. Until Agent notifies Borrowers that such circumstance no longer exists, exists the obligation of Lenders to make LIBOR Term Loans shall be suspendedbear interest at the Base Rate then in effect, and no further Loans may be converted into or continued as LIBOR plus the Applicable Margin for Base Rate Term Loans.

Appears in 1 contract

Samples: Second Lien Loan and Security Agreement (Bon Ton Stores Inc)

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