Market Disruption and Alternate Rate of Interest. (a) If at the time that the Agent shall seek to determine the LIBOR Screen Rate on the Quotation Day for any Interest Period for a LIBOR Rate Loan the LIBOR Screen Rate shall not be available for such Interest Period with respect to such LIBOR Rate Loan for any reason and the 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 LIBOR Base Rate for such Interest Period for such LIBOR Rate Loan; provided, however, that if less than two Reference Banks shall supply a rate to the Agent for purposes of determining the LIBOR Base Rate for such LIBOR Rate Loan, then such LIBOR Rate Loan shall be made as a Base Rate Loan at the Alternate Base Rate
Appears in 2 contracts
Samples: Term Loan Agreement (Columbia Property Trust, Inc.), Term Loan Agreement (Columbia Property Trust, Inc.)
Market Disruption and Alternate Rate of Interest. (a) If at the time that the Agent shall seek to determine the LIBOR Screen Rate on the Quotation Day for any Interest Period for a LIBOR Rate Loan the LIBOR Screen Rate shall not be available for such Interest Period with respect to such LIBOR Rate Loan for any reason and the 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 LIBOR Base Rate for such Interest Period for such LIBOR Rate Loan; provided, however, that if less than two Reference Banks shall supply a rate to the Agent for purposes of determining the LIBOR Base Rate for such LIBOR Rate Loan, then such LIBOR Rate Loan shall be made as a Base Rate Loan at the Alternate Base Rate.
Appears in 2 contracts
Samples: Credit Agreement (Columbia Property Trust, Inc.), Credit Agreement (Columbia Property Trust, Inc.)
