Common use of LIBOR Basis Determination Inadequate or Unfair Clause in Contracts

LIBOR Basis Determination Inadequate or Unfair. If the Administrative Agent shall reasonably determine in good faith that on any date for determining LIBOR, due to any circumstance affecting the London interbank market or any market disruption (limited to circumstances generally affecting the banking market), adequate and fair means do not exist for ascertaining such rate on the basis provided herein or if any Lender shall notify the Administrative Agent that LIBOR does not adequately and fairly reflect the cost to that Lender of funding any requested Loan, and, in each case, the provisions of Section 10.6 are not applicable, then the Administrative Agent shall promptly notify the Borrower of such determination. Until the Administrative Agent notifies the Borrower that such circumstance no longer exists, the obligation of the Lenders to make LIBOR Advances or shall be suspended, and no further Loans may be Converted into or Continued as LIBOR Advances. Upon receipt of notice of the suspension of LIBOR in accordance herewith, Borrower may revoke any pending requests for a LIBOR Advance or Conversion to or Continuation of LIBOR Advances (to the extent of the affected LIBOR Advances or Interest Periods) or, failing that, will be deemed to have Converted such request into a request for a Base Rate Advance in the amount specified therein.

LIBOR Basis Determination Inadequate or Unfair. If Notwithstanding anything contained herein which may be construed to the Administrative contrary, if with respect to any proposed LIBOR Loan for any Interest Period, the Agent determines after consultation with the Lenders that deposits in Dollars (in the applicable amount) are not being offered to each of the Lenders in the relevant market for such Interest Period, the Agent shall reasonably determine in good faith forthwith give notice thereof to the Borrowers and the Lenders, whereupon until the Agent notifies the Borrowers that on any date for determining LIBORthe circumstances giving rise to such situation no longer exist, due the obligations of the Lenders to make such LIBOR Loans shall be suspended. If with respect to any circumstance affecting proposed LIBOR Loan for any Interest Period, the London interbank market Agent determines after consultation with the Lenders that the rate determined or any market disruption (limited to circumstances generally affecting the banking market), adequate and fair means do not exist be determined for ascertaining such rate on the basis provided herein or if any Lender shall notify the Administrative Agent that LIBOR does Interest Period will not adequately and fairly reflect the cost to the Lenders constituting the Majority Lenders of making or maintaining their affected LIBOR Loans during such Interest Period by reason of circumstances affecting the interbank eurodollar market generally, and that Lender of funding any requested Loan, and, in each caseLIBOR Loans are thus not available, the provisions of Section 10.6 are not applicable, then the Administrative Agent shall promptly notify forthwith give notice thereof to the Borrower of such determination. Until Borrowers and the Administrative Lenders, whereupon until the Agent notifies the Borrower Borrowers that the circumstances giving rise to such circumstance situation no longer existsexist, the obligation obligations of the Lenders any affected Lender to make any such LIBOR Advances or Loan shall be suspended, and no further Loans may be Converted into or Continued as LIBOR Advances. Upon receipt of notice of the suspension of LIBOR in accordance herewith, Borrower may revoke any pending requests for a LIBOR Advance or Conversion to or Continuation of LIBOR Advances (to the extent of the affected LIBOR Advances or Interest Periods) or, failing that, will be deemed to have Converted such request into a request for a Base Rate Advance in the amount specified therein.

LIBOR Basis Determination Inadequate or Unfair. If Notwithstanding anything contained herein which may be construed to the Administrative contrary, if with respect to any proposed LIBOR Loan for any Interest Period, the Agent determines (a) that the Reuters Screen LIBOR01 Page (or other commercially available source providing such quotations as designated by the Agent from time to time) is unavailable or (b) after consultation with the Lenders that deposits in Dollars (in the applicable amount) are not being offered to each of the Lenders in the relevant market for such Interest Period, the Agent shall reasonably determine in good faith forthwith give notice thereof to the Borrowers and the Lenders, whereupon until the Agent notifies the Borrowers that on any date for determining LIBORthe circumstances giving rise to such situation no longer exist, due the obligations of the Lenders to make such LIBOR Loans shall be suspended. If with respect to any circumstance affecting proposed LIBOR Loan for any Interest Period, the London interbank market Agent determines after consultation with the Lenders that the rate determined or any market disruption (limited to circumstances generally affecting the banking market), adequate and fair means do not exist be determined for ascertaining such rate on the basis provided herein or if any Lender shall notify the Administrative Agent that LIBOR does Interest Period will not adequately and fairly reflect the cost to the Lenders constituting the Majority Lenders of making or maintaining their affected LIBOR Loans during such Interest Period by reason of circumstances affecting the interbank eurodollar market generally, and that Lender of funding any requested Loan, and, in each caseLIBOR Loans are thus not available, the provisions of Section 10.6 are not applicable, then the Administrative Agent shall promptly notify forthwith give notice thereof to the Borrower of such determination. Until Borrowers and the Administrative Lenders, whereupon until the Agent notifies the Borrower Borrowers that the circumstances giving rise to such circumstance situation no longer existsexist, the obligation obligations of the Lenders any affected Lender to make any such LIBOR Advances or Loan shall be suspended, and no further Loans may be Converted into or Continued as LIBOR Advances. Upon receipt of notice of the suspension of LIBOR in accordance herewith, Borrower may revoke any pending requests for a LIBOR Advance or Conversion to or Continuation of LIBOR Advances (to the extent of the affected LIBOR Advances or Interest Periods) or, failing that, will be deemed to have Converted such request into a request for a Base Rate Advance in the amount specified therein.