LIBOR Availability. If the Lender determines in good faith (which determination shall be conclusive, absent manifest error) prior to the commencement of any Interest Period (defined below) that (i) the making or maintenance of any Loan would violate any applicable law, rule, regulation or directive, whether or not having the force of law, (ii) United States dollar deposits in the principal amount, and for periods equal to the Interest Period for funding any Loan are not available in the London Interbank Eurodollar market in the ordinary course of business, (iii) by reason of circumstances affecting the London Interbank Eurodollar market, adequate and fair means do not exist for ascertaining the LIBOR Rate to be applicable to the relevant Loan, or (iv) the LIBOR Rate does not accurately reflect the cost to the Lender of a Loan, the Lender shall promptly notify Borrower thereof and, so long as the foregoing conditions continue, the Lender shall have no obligation to make any additional advances on the Loan at the Loan Rate thereafter.
LIBOR Availability. In the event, and on each occasion, that on the Business Day two (2) Business Days prior to the commencement of any Interest Period for the LIBOR Rate Tranches, Lender shall have determined in good faith (which determination shall, in the absence of manifest error, be conclusive and binding upon Borrower) that U.S. Dollar deposits in the amount of the principal amount of the LIBOR Rate Tranches which is to have such Interest Period are not generally available in the London interbank market, or that the rate at which such U.S. Dollar deposits are being offered will not accurately reflect the cost to Lender making or funding such principal amount of such LIBOR Rate Tranches during such Interest Period, or that reasonable means do not exist for ascertaining the LIBOR Rate, Lender shall, as soon as practicable thereafter, give written or telephonic notice of such determination to Borrower and (i) such principal amount of such LIBOR Rate Tranches shall automatically be converted, as of the last day of the Interest Period during which such determination is made, to Base Rate Tranches and (ii) any request by Borrower for such LIBOR Rate Tranches pursuant to Section 2.5 of this Agreement shall thereupon, and until the circumstances giving rise to such notice no longer exist (as notified by Lender to Borrower) be deemed a request for the making of Base Rate Tranches. If at any time Lender shall have determined in good faith (which determination shall, in the absence of manifest error, be conclusive and binding upon Borrower) that any contingency has occurred which adversely affects the London interbank market or that any Requirement of Law or any change in any existing Requirement of Law or in the interpretation thereof, in any case adopted, issued or effective after the date hereof, or other circumstance affecting Lender or the London interbank market makes the funding of the LIBOR Rate Tranches impracticable, Lender shall, as soon as practicable thereafter, give written or telephonic notice of such determination to Borrower and (i) the LIBOR Rate Tranches shall automatically be converted, as of the last day of each Interest Period during which such determination is made and in each case in respect of the principal amount of the LIBOR Rate Tranches having an Interest Period ending on such date, to Base Rate Tranche and (ii) any request by Borrower for the LIBOR Rate Tranches pursuant to Section 2.5 of this Agreement shall thereupon, and until the circumstances giv...
LIBOR Availability. If the Deposit Bank is not offering Dollar deposits (in the applicable amounts) in the London interbank market, or the Deposit Bank reasonably determines that adequate and fair means do not otherwise exist for ascertaining the Deposit Rate, then the Deposits (or such parts, as applicable) shall be invested so as to earn a return equal to the greater of the Federal Funds Rate and a rate reasonably determined by the Deposit Bank in accordance with banking industry rules on interbank compensation and the Deposit Bank hereby agrees to pay such greater amount to each Lender on its Deposit.
LIBOR Availability. If the Bank determines that for any reason deposits in Dollars are not offered to MLIB by leading banks in the London Interbank Market in an amount comparable to a proposed Advance or an unpaid Advance for which renewal of the Interest Period has been requested and for a period equal to the requested Interest Period for such Advance, or that LIBOR applicable for any requested Interest Period with respect to an Advance does not adequately and fairly reflect the cost to the Bank of funding or maintaining such Advance, the Bank will notify the Borrower that the requested Advance will not be made or renewed, as the case may be. Upon receipt of such notice, the Borrower may revoke any notice given to the Bank pursuant to Section 2(b) regarding an Advance or renewal request. Whether or not the Borrower revokes any such notice, new Advances will not be made and any outstanding Advance will subject to the Bank's right to demand payment at any time, accrue interest at the Alternate Rate, subject to the provisions of this Agreement, until the Bank shall notify the Borrower that the above circumstances no longer exist. (iv)
LIBOR Availability. (a) In the event, and on each occasion, that on the ------------------ day two Business Days prior to the commencement of any Interest Period for a LIBOR Advance, the Agent or the applicable Fronting Bank shall have determined in good faith (which determination shall, in the absence of manifest error, be conclusive and binding upon the Borrowers) that Dollar deposits in the amount of the principal amount of such LIBOR Advance are not generally available in the London (England, U.K.) interbank market, or deposits in the requested Optional Currency in the amount of the principal amount of such LIBOR Advance are not generally available in the applicable Eurocurrency Interbank Market or that the rate at which such Dollar deposits or Optional Currency deposits are being offered will not accurately reflect the cost to one or more Lenders of making or funding the principal amount of their portions of such LIBOR Advance during such Interest Period, or that reasonable means do not exist for ascertaining the LIBOR Rate, or the Sterling LIBOR Rate, the Agent shall, as soon as practicable thereafter, give written or telephonic notice of such determination to the Lenders and the Borrowers and any request by the Borrowers for a LIBOR Advance pursuant to (S)2.5 hereof or for conversion to or renewal of a LIBOR Advance pursuant to (S)2.11 hereof shall thereupon, and until the circumstances giving rise to such notice no longer exist (as notified by the Agent to the Borrowers and the Lenders), be deemed a request by the Borrowers for the making of or conversion to a Base Rate Advance.
