Common use of Market Disruption and Alternate Rate of Interest Clause in Contracts

Market Disruption and Alternate Rate of Interest. (i) If at the time that the Administrative Agent shall seek to determine the relevant Screen Rate on the Quotation Day for any Interest Period for a Borrowing of Eurodollar Rate Loans the applicable Screen Rate shall not be available for such Interest Period and/or for the applicable currency with respect to such Borrowing for any reason and the Administrative Agent shall determine that it is not possible to determine the Interpolated Rate (which conclusion shall be conclusive and binding absent manifest error), then the applicable Reference Bank Rate shall be the Eurodollar Rate for such Interest Period for such Borrowing; provided, however, that if less than two Reference Banks shall supply a rate to the Administrative Agent for purposes of determining the Eurodollar Rate for such Borrowing, (i) if such Borrowing shall be requested in Dollars, then such Borrowing shall be made as a Borrowing of Base Rate Loans at the Base Rate and (ii) if such Borrowing shall be requested in any Alternative Currency, the Eurodollar Rate shall be equal to the cost to each Lender to fund its pro rata share of such Borrowing (from whatever source and using whatever methodologies as such Lender may select in its reasonable discretion); such rate, the “CF Rate”).

Appears in 4 contracts

Samples: Credit Agreement (Simon Property Group L P /De/), Credit Agreement (Simon Property Group L P /De/), Credit Agreement (Simon Property Group L P /De/)

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Market Disruption and Alternate Rate of Interest. (i) If at the time that the Administrative Agent shall seek to determine the relevant Screen Rate on the Quotation Day for any Interest Period for a Borrowing of Eurodollar Rate Loans the applicable Screen Rate shall not be available for such Interest Period and/or for the applicable currency with respect to such Borrowing for any reason and the Administrative Agent shall determine that it is not possible to determine the Interpolated Rate (which conclusion shall be conclusive and binding absent manifest error)reason, then the applicable Reference Bank Rate shall be the Eurodollar Rate for such Interest Period for such Borrowing; provided, however, that if less than two Reference Banks shall supply a rate to the Administrative Agent for purposes of determining the Eurodollar Rate for such Borrowing, (i) if such Borrowing shall be requested in Dollars, then such Borrowing shall be made as a Borrowing of Base Rate Loans at the Base Rate and (ii) if such Borrowing shall be requested in any Alternative Currency, the Eurodollar Rate shall be equal to the cost to each Lender to fund its pro rata share of such Borrowing (from whatever source and using whatever methodologies as such Lender may select in its reasonable discretion); such rate, the “CF Rate”).

Appears in 2 contracts

Samples: Credit and Term Loan Agreement (Washington Prime Group Inc.), Revolving Credit and Term Loan Agreement (Washington Prime Group Inc.)

Market Disruption and Alternate Rate of Interest. (ia) If at the time that the Administrative Agent shall seek to determine the relevant Screen Rate on the Quotation Day for any Interest Period for a Borrowing of Eurodollar Rate Loans Eurocurrency Advance the applicable Screen Rate shall not be available for such Interest Period and/or for the applicable currency with respect to such Eurocurrency Borrowing for any reason and the Administrative Agent shall determine that it is not possible to determine the Interpolated Rate (which conclusion shall be conclusive and binding absent manifest error), then the applicable Reference Bank Rate shall be the Eurodollar Eurocurrency Rate for such Interest Period for such BorrowingEurocurrency Advance; provided, however, that if the Reference Bank Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement; provided, further, however, that if less than two Reference Banks shall supply a rate to the Administrative Agent for purposes of determining the Eurodollar Eurocurrency Rate for such BorrowingEurocurrency Advance, (i) if such Borrowing Advance shall be requested in DollarsUSD, then such Borrowing shall be made as a Borrowing of Base Floating Rate Loans Advance at the Base Floating Rate and (ii) if such Borrowing shall be requested in any Alternative Non-USD Currency, the Eurodollar Rate request shall be equal converted to a request for a Floating Rate Advance at the cost to each Lender to fund its pro rata share Floating Rate denominated in USD in the USD Amount of such Borrowing (from whatever source and using whatever methodologies as such Lender may select in its reasonable discretion); such rate, the “CF Rate”)Non-USD Currency.

Appears in 1 contract

Samples: Assignment Agreement (Kelly Services Inc)

Market Disruption and Alternate Rate of Interest. (ia) If at the time that the Administrative Agent shall seek to determine the relevant Screen Rate on the Quotation Day for any Interest Period for a LIBOR Borrowing of Eurodollar Rate Loans or a EURIBOR Borrowing the applicable Screen Rate shall not be available for such Interest Period and/or for the applicable currency with respect to such Borrowing for any reason and the Administrative Agent shall reasonably determine that it is not possible to determine the Interpolated Rate (which conclusion shall be conclusive and binding absent manifest error), then the applicable Reference Bank Rate shall be the Eurodollar LIBO Rate or EURIBO Rate, as applicable, for such Interest Period for such Borrowing; provided, however, that if less than two Reference Banks shall supply a rate to the Administrative Agent for purposes of determining the Eurodollar LIBO Rate or EURIBO Rate, as applicable, for such Borrowing, (i) if such Borrowing shall be requested in Dollars, then such Borrowing shall be made as a an ABR Borrowing of Base Rate Loans at the Alternate Base Rate and (ii) if such Borrowing shall be requested in any Alternative Currencycurrency other than Dollars, the Eurodollar LIBO Rate or EURIBO Rate, as applicable, shall be equal to the cost to each Lender to fund its pro rata share of such Borrowing (from whatever source and using whatever methodologies as such Lender may select in its reasonable discretion); such rate, the “CF COF Rate”).

Appears in 1 contract

Samples: Subsidiary Guaranty Agreement (NuStar Energy L.P.)

Market Disruption and Alternate Rate of Interest. (ia) If at the time that the Administrative Agent shall seek to determine the relevant Screen Rate on the Quotation Day for any Interest Period for a Eurocurrency Borrowing of Eurodollar Rate Loans the applicable Screen Rate shall not be available for such Interest Period and/or for the applicable currency with respect to such Eurocurrency Borrowing for any reason and the Administrative Agent shall determine that it is not possible to determine the Interpolated Rate (which conclusion shall be conclusive and binding absent manifest error), then the applicable Reference Bank Rate shall be the Eurodollar Rate for such Interest Period for such Borrowing; provided, however, that if less than two Reference Banks shall supply a rate to the Administrative Agent for purposes of determining the Eurodollar Rate for such Borrowing, (i) if such Borrowing shall be requested in U.S. Dollars, then such Borrowing shall be made as a an ABR Borrowing of Base Rate Loans at the Base Rate and (ii) if such Borrowing shall be requested in any Alternative other Agreed Currency, the Eurodollar Eurocurrency Rate shall be equal to the cost to each Lender to fund its pro rata share of such Eurocurrency Borrowing in such currency (from whatever source and using whatever methodologies as such Lender may select in its reasonable discretion); such rate, the “CF COF Rate”).

Appears in 1 contract

Samples: Credit Agreement (Quad/Graphics, Inc.)

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Market Disruption and Alternate Rate of Interest. (ia) If at the time that the Administrative Agent shall seek to determine the relevant Screen Rate on the Quotation Day for any Interest Period for a Borrowing of Eurodollar Rate Loans Eurocurrency Advance the applicable Screen Rate shall not be available for such Interest Period and/or for the applicable currency with respect to such Eurocurrency Borrowing for any reason and the Administrative Agent shall determine that it is not possible to determine the Interpolated Rate (which conclusion shall be conclusive and binding absent manifest error), then the applicable Reference Bank Rate shall be the Eurodollar Eurocurrency Rate for such Interest Period for such BorrowingEurocurrency Advance; provided, however, that if the Reference Bank Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement; provided, further, however, that if less than two Reference Banks shall supply a rate to the Administrative Agent for purposes of determining the Eurodollar Eurocurrency Rate for such BorrowingEurocurrency Advance, (i) if such Borrowing Advance shall be requested in DollarsUSD, then such Borrowing shall be made as a Borrowing of Base Floating Rate Loans Advance at the Base Floating Rate and (ii) if such Borrowing shall be requested in any Alternative Non-USD Currency, the Eurodollar Eurocurrency Rate shall be equal to the cost to each Lender to fund its pro rata share of such Borrowing Eurocurrency Advance (from whatever source and using whatever methodologies as such Lender may select in its reasonable discretion); such rate, the “CF Rate”).

Appears in 1 contract

Samples: Assignment Agreement (Kelly Services Inc)

Market Disruption and Alternate Rate of Interest. (ia) If at the time that the Administrative Agent shall seek to determine the relevant Screen Rate on the Quotation Day for any Interest Period for a Borrowing of Eurodollar Rate Loans Eurocurrency Advance the applicable Screen Rate shall not be available for such Interest Period and/or for the applicable currency with respect to such Eurocurrency Borrowing for any reason and the Administrative Agent shall determine that it is not possible to determine the Interpolated Rate (which conclusion shall be conclusive and binding absent manifest error), then the applicable Reference Bank Rate shall be the Eurodollar Eurocurrency Rate for such Interest Period for such BorrowingEurocurrency Advance; provided, however, that if less than two Reference Banks shall supply a rate to the Administrative Agent for purposes of determining the Eurodollar Eurocurrency Rate for such BorrowingEurocurrency Advance, (i) if such Borrowing Advance shall be requested in DollarsUSD, then such Borrowing shall be made as a Borrowing of Base Floating Rate Loans Advance at the Base Floating Rate and (ii) if such Borrowing shall be requested in any Alternative Non-USD Currency, the Eurodollar Eurocurrency Rate shall be equal to the cost to each Lender to fund its pro rata share of such Borrowing Eurocurrency Advance (from whatever source and using whatever methodologies as such Lender may select in its reasonable discretion); such rate, the “CF Rate”).

Appears in 1 contract

Samples: Assignment Agreement (Kelly Services Inc)

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