Interest Rates Unascertainable Sample Clauses

Interest Rates Unascertainable. In the event that, ------------------------------ prior to any Borrowing Date of any group of Eurodollar Loans or CD Loans, Banks having, in the aggregate, a Percentage of 66 2/3% or more shall have determined (which determination shall be conclusive and binding on all parties hereto) that (i) with respect to Eurodollar Loans and CD Loans, the circumstances described in the third sentence of Section 3.1.4 have occurred, or that, (ii) by reason of ----- -------- ------------- other circumstances affecting the London interbank eurodollar market or certificate of deposit market, adequate and reasonable means do not exist for ascertaining the Eurodollar Interest Rate or CD Rate applicable to such group of Eurodollar Loans or CD Loans, (a) such Banks shall give notice of such determination promptly (and in any event within three Eurodollar Days after making such determination with respect to Eurodollar Loans and within two Business Days after making such determination with respect to CD Loans) to the other parties hereto and, (b) with respect to any new Eurodollar Loans or CD Loans, as the case may be, Borrower's request for Eurodollar Loans or CD Loans, as the case may be, shall be deemed a request for Prime Rate Loans and (c) with respect to outstanding Eurodollar Loans or CD Loans, as the case may be, to be continued on such Borrowing Date, such Loans shall be converted into Prime Rate Loans in accordance with the provisions of this Article V on such Borrowing Date, ------- - notwithstanding any failure of Borrower to comply with the notice provisions of Section 1.2 or 5.4, as the case may be. ------- --- ---
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Related to Interest Rates Unascertainable

  • Unascertainable If on any date on which a LIBOR Rate would otherwise be determined, the Administrative Agent shall have determined that:

  • Interest Rate Unascertainable, Inadequate or Unfair In the event that (i) the Administrative Agent determines that adequate and fair means do not exist for ascertaining the applicable interest rates by reference to which the Eurodollar Rate then being determined is to be fixed or (ii) the Requisite Lenders notify the Administrative Agent that the Eurodollar Rate for any Interest Period will not adequately reflect the cost to the Lenders of making or maintaining such Loans for such Interest Period, the Administrative Agent shall forthwith so notify the Borrower and the Lenders, whereupon each Eurodollar Loan shall automatically, on the last day of the current Interest Period for such Loan, convert into a Base Rate Loan and the obligations of the Lenders to make Eurodollar Rate Loans or to convert Base Rate Loans into Eurodollar Rate Loans shall be suspended until the Administrative Agent shall notify the Borrower that the Requisite Lenders have determined that the circumstances causing such suspension no longer exist.

  • Libor Rate Unascertainable Illegality Increased Costs Deposits Not Available (a) If on any date on which a LIBOR Rate would otherwise be determined, the Administrative Agent shall have determined that:

  • 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.

  • 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, any Bank determines (which determination shall be conclusive and binding, absent error) that:

  • Determination of Interest Rate (a) The Applicable Interest Rate with respect to the Loan shall be: (i) LIBOR plus the Spread with respect to the applicable Interest Period for a LIBOR Loan or (ii) the Prime Rate plus the Prime Rate Spread for a Prime Rate Loan if the Loan is converted to a Prime Rate Loan pursuant to the provisions of Section 2.2.3(c) or Section 2.2.3(f).

  • Alternate Rate of Interest; Illegality (a) If prior to the commencement of any Interest Period for a Eurodollar Borrowing:

  • Determination of Applicable Interest Rate As soon as practicable on each Interest Rate Determination Date, Bank shall determine (which determination shall, absent manifest error in calculation, be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Advances for which an interest rate is then being determined for the applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to Borrower.

  • Basis for Determining Interest Rate Inadequate or Unfair In the event that Agent or any Lender shall have determined that:

  • Determination of Prime Rate If the Interest Rate Basis specified above is the Prime Rate, the interest rate with respect to this Note will be the Prime Rate plus or minus the Spread, if any, or multiplied by the Spread Multiplier, if any, as specified above. “Prime Rate” means, with respect to any Interest Determination Date, the rate on such Interest Determination Date as published in H.15(519) opposite the caption “Bank prime loan.” If such rate is not published by 3:00 P.M., New York City time, on the Calculation Date pertaining to such Interest Determination Date, the Prime Rate for such Interest Determination Date will be the rate published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying the applicable rate under the caption “Bank prime loan.” If such rate is not published by 3:00 P.M., New York City time, in H.15(519), H.15 Daily Update or such other recognized electronic source on the related Calculation Date, the Prime Rate for such Interest Determination Date will be calculated by the Calculation Agent and will be the arithmetic mean of the rates of interest publicly announced by each bank that appears on Reuters page US PRIME 1 as such bank’s prime rate or base lending rate as of 11:00 A.M., New York City time, on such Interest Determination Date, or, if fewer than four such rates appear by 3:00 P.M., New York City time, on the related Calculation Date on Reuters page US PRIME 1 for such Interest Determination Date, the rate will be calculated by the Calculation Agent and will be the arithmetic mean of the prime rates or base lending rates quoted on the basis of the actual number of days in the year divided by a 360-day year as of the close of business on such Interest Determination Date by three major banks in The City of New York selected by the Calculation Agent; provided, however, that if the banks so selected by the Calculation Agent are not quoting as mentioned in this sentence, the Prime Rate with respect to such Interest Determination Date will be the Prime Rate in effect on such Interest Determination Date.

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