Market disturbance. If, in respect of any proposed or existing drawdown of a particular currency, ANZ is of the view that:
(a) the relevant funds are not readily available to ANZ; or
(b) adequate and fair means do not exist for ascertaining the interest rate for the loan or facility; the drawdown of a particular currency will not be made and if any drawdown in that currency has been made, you shall on demand prepay the drawdown together with the Accrued Interest and all other sums payable under the facility to ANZ.
Market disturbance. Notwithstanding anything to the contrary herein contained, if and each time that prior to or on a Utilisation Date relative to an Advance to be made:
(a) LIBOR is to be determined in accordance with paragraph (b) of its definition and only one or no Reference Bank supplies a rate for the purposes of determining LIBOR; or
(b) only one or no Reference Bank supplies a rate for the purposes of determining EBDR; or
(c) the Agent is notified by the Majority Banks that:
(i) deposits in the currency of that Advance are not in the ordinary course of business available in the London interbank market for a period equal to the Term or Interest Period concerned in amounts sufficient to fund their participations in that Advance; or
(ii) by reason of circumstances affecting the London interbank market generally, adequate and fair means do not exist for ascertaining the LIBOR applicable to such Advance during its Term or Interest Period or LIBOR does not adequately represent the cost of funding to the Majority Banks; or
(iii) adequate and fair means do not exist for ascertaining EBDR, the Agent shall promptly give written notice of such determination or notification to the Parent and to each of the Banks.
Market disturbance. Notwithstanding anything to the contrary in this Agreement, if prior to the commencement of any Pre-Delivery Interest Period or any Interest Period pursuant to Clause 5.3.1 the Agent shall determine in good faith (which determination shall be conclusive and binding on the parties hereto) that:
6.1.1 by reason of circumstances affecting the relevant interbank eurocurrency market adequate and fair means do not exist for ascertaining the Floating Interest Rate during such Pre-Delivery Interest Period or Interest Period pursuant to Clause 5; or
6.1.2 deposits in Dollars or Euro (as the case may be) of equal duration to such Pre-Delivery Interest Period or Interest Period will not be available to any of the Lenders in the relevant interbank eurocurrency market in sufficient amounts in the ordinary course of business to fund its Contribution during such Pre-Delivery Interest Period or Interest Period; or
6.1.3 by reason of any material change in applicable law or regulation or of any change in national or international financial or economic conditions any of the Lenders is unable to fund or to continue to fund its Contribution during such Pre-Delivery Interest Period or Interest Period by deposits obtained in the relevant interbank eurocurrency market, then the Agent shall promptly give a notice (being a Suspension Notice), containing full particulars thereof in reasonable detail to the Borrower.
Market disturbance. Notwithstanding anything to the contrary in this Agreement, if prior to the commencement of any Interest Period the Agent shall determine in good faith (which determination shall be conclusive and binding on the parties hereto) that:
6.1.1 by reason of circumstances affecting the relevant interbank eurocurrency market adequate and fair means do not exist for ascertaining the Interest Rate during such Interest Period pursuant to Clause 5; or
6.1.2 deposits in euro or Dollars (as the case may be) of equal duration to such Interest Period will not be available to any of the Lenders in the relevant interbank eurocurrency market in sufficient amounts in the ordinary course of business to fund its relevant Contribution during such Interest Period; or
6.1.3 by reason of any material change in applicable law or regulation or of any change in national or international financial or economic conditions any of the Lenders is unable to fund or to continue to fund its relevant Contribution during such Interest Period by deposits obtained in the relevant interbank eurocurrency market, then the Agent shall promptly give a notice (being a Suspension Notice), containing full particulars thereof in reasonable detail to the Borrower.
Market disturbance. Notwithstanding anything to the contrary herein contained, if and each time that prior to or on a Drawdown Date relative to an Advance (other than, in the case of paragraphs (a), (b)(ii) or (c) below, a Swingline Advance) to be made:
(a) only one or no Reference Bank supplies a rate for the purposes of determining LIBOR or EURIBOR (as the case may be) in accordance with paragraph (b) of the relevant definition; or
(b) the Agent is notified by Lenders whose participations in that Advance would represent 50 per cent. or more of that Advance that (i) deposits in the currency of that Advance may not in the ordinary course of business be available to them in the relevant interbank market for a period equal to the Term concerned in amounts sufficient to fund their participations in that Advance or (ii) LIBOR or EURIBOR (as the case may be) does not adequately represent their cost of funds; or
(c) the Agent (after consultation with the Reference Banks) shall have determined (which determination shall be conclusive and binding upon all Parties) that by reason of circumstances affecting the relevant interbank market generally, adequate and fair means do not exist for ascertaining the LIBOR or EURIBOR (as the case may be) applicable to such Advance during its Term, the Agent shall promptly give written notice of such determination or notification to Vodafone and to each of the Lenders.
Market disturbance. (a) If IBOR is to be determined by reference to the Reference Banks and a Reference Bank does not supply an offered rate by 11.30 a.m. on the applicable Rate Fixing Day, the applicable IBOR shall, subject to paragraph (b) below, be determined on the basis of the quotations of the remaining Reference Banks.
(b) If, in relation to any proposed Loan:
(i) IBOR is to be determined by reference to the Reference Banks and no, or only one, Reference Bank supplies a rate by 11.30 a.m. on the applicable Rate Fixing Day for the purposes of determining the applicable IBOR; or
(ii) the Agent otherwise determines (which determination, made by the Agent acting reasonably, shall be conclusive and binding on all parties) that adequate and fair means do not exist for ascertaining the applicable IBOR, the Agent shall promptly notify the Company and the relevant Banks of the fact and that this Clause 12 is in operation.
Market disturbance. Notwithstanding anything to the contrary in this Agreement, if prior to the commencement of any Pre-Delivery Interest Period or any Interest Period pursuant to Clause 5.3.1 the Agent shall determine in good faith (which determination shall be conclusive and binding on the parties hereto) that:
6.1.1 by reason of circumstances affecting the London Interbank eurocurrency market adequate and fair means do not exist for ascertaining the Floating Interest Rate during such Pre-Delivery Interest Period or Interest Period pursuant to Clause 5; or
6.1.2 deposits in Dollars of equal duration to such Pre-Delivery Interest Period or Interest Period will not be available to any of the Lenders in the London Interbank eurocurrency market in sufficient amounts in the ordinary course of business to fund its Contribution during such Pre-Delivery Interest Period or Interest Period; or
6.1.3 by reason of any material change in applicable law or regulation or of any change in national or international financial or economic conditions any of the Lenders is unable to fund or to continue to fund its Contribution during such Pre-Delivery Interest Period or Interest Period by deposits obtained in the London Interbank eurocurrency market, then the Agent shall promptly give a notice (being a Suspension Notice), containing full particulars thereof in reasonable detail to the Borrower.
Market disturbance. Notwithstanding anything to the contrary herein contained, if and each time that prior to or on a Utilisation Date relative to an Advance to be made:
11.1.1 only one or no Reference Bank supplies a rate for the purposes of determining LIBOR or EURIBOR (as the case may be); or
11.1.2 the Agent is notified by Banks whose Commitments represent 25 per cent or more of the Total Commitments that deposits in the currency of that Advance are not in the ordinary course of business available in the London Interbank Market for a period equal to the Term concerned in amounts sufficient to fund their participations in that Advance; or
11.1.3 the Agent is notified by Banks whose Commitments represent 25 per cent or more of the Total Commitments that by reason of circumstances affecting the London Interbank Market generally, adequate and fair means do not exist for ascertaining the LIBOR or EURIBOR (as the case may be) applicable to such Advance during its Term or LIBOR or EURIBOR (as the case may be) does not adequately represent the cost of funding to the Banks, the Agent shall promptly give written notice of such circumstance (in respect of Clause 11.1.1) or notification to the Parent and to each of the Banks.
Market disturbance. Notwithstanding anything to the contrary herein contained, if and each time that prior to or on a Utilisation Date relative to an Advance to be made:
(a) only one or no Reference Bank supplies a rate for the purposes of determining LIBOR (if that Advance is denominated in a currency other than euros) or EURIBOR (if that Advance is denominated in euros); or
(b) the Agent is notified by Banks whose Commitments represent 35 per cent. or more of the Total Commitments that deposits in the currency of that Advance are not in the ordinary course of business available in the London Interbank Market (or if the Advance is denominated in euros, the European Interbank Market) for a period equal to the Term concerned in amounts sufficient to fund their participations in that Advance; or
(c) the Agent (after consultation with the Reference Banks) shall have determined (which determination shall be conclusive and binding upon all Parties) that by reason of circumstances affecting the London Interbank Market (or if the Advance is denominated in euros, the European Interbank Market) generally, adequate and fair means do not exist for ascertaining the LIBOR (if that Advance is denominated in a currency other than euros) or EURIBOR (if that Advance is denominated in euros) applicable to such Advance during its Term or LIBOR or EURIBOR (as applicable) does not adequately represent the cost of funding to the Banks, the Agent shall promptly give written notice of such determination or notification to the Parent and to each of the Banks.
Market disturbance. 9.2.1 XX XXXXXX may give a notice (“a Disturbance Notice”) to the Client at any time if it forms the view that market conditions in the relevant financial market for the currency concerned are seriously disturbed.
9.2.2 This includes circumstances where, in XX XXXXXXx opinion, deposits in the currency concerned are not available in the ordinary course of business to XX XXXXXX in the relevant financial market or because of national or international financial, political or economic circumstances or exchange controls, it is impractical.
9.2.3 When a Disturbance Notice is given, XX XXXXXXx obligations will be suspended while it and the Client negotiate alternative arrangements. If both parties reach agreement before the Value Date, those alternative arrangements will apply. If they do not reach agreement within that period, each will be released from its obligations under the relevant transaction.
