Common use of MARKET DISRUPTION AND ALTERNATIVE INTEREST RATES Clause in Contracts

MARKET DISRUPTION AND ALTERNATIVE INTEREST RATES. 5.1 Absence of quotations Subject to Clause 5.2 (Market disruption), if LIBOR is to be determined by reference to the Reference Banks but a Reference Bank does not supply a quotation by 11.00 am on the Quotation Date, the applicable LIBOR shall be determined on the basis of the quotations of the remaining Reference Banks.

MARKET DISRUPTION AND ALTERNATIVE INTEREST RATES. 5.1 Absence of quotations Subject to Clause 5.2 (Market disruption), if LIBOR is to be determined by reference to the Reference Banks but a Reference Bank does not supply a quotation by 11.00 am on the Quotation DateDay, the applicable LIBOR shall be determined on the basis of the quotations of the remaining Reference Banks.