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.
Appears in 5 contracts
Samples: Syndicated Credit Facility Agreement (Gec Acquisition Corp), Syndicated Credit Facility (Gec Acquisition Corp), Syndicated Credit Facility Agreement (Gec Acquisition Corp)
