NATURE OF MARKET DISRUPTION Sample Clauses

NATURE OF MARKET DISRUPTION. This sub-clause applies if any of (i), (ii), (iii) or (iv) are true: (i) The Agent believes that there are no reasonable means to ascertain LIBOR because of circumstances in the London inter-bank market. (ii) Lenders with Commitments exceeding 35% of the Total Commitments, or with participations exceeding 35% of the Outstanding Amount, notify the Agent that they believe that LIBOR would not reflect fairly the cost to them of funding an amount outstanding under this Agreement. (iii) Lenders with Commitments exceeding 35% of the Total Commitments, or with participations exceeding 35% of the Outstanding Amount, notify the Agent that they are unable to fund their participation in the Loan in the London inter-bank market.
Sample 1
AutoNDA by SimpleDocs
NATURE OF MARKET DISRUPTION. This sub-clause applies if any of (i), (ii), or (iii) are true: (i) Lenders with Available Commitments exceeding 35% of the aggregate Available Commitments, or with participations exceeding 35% of the Loan, notify the Agent that they believe that LIBOR or, as the case may be, EURIBOR would not reflect fairly the cost to them of funding an amount outstanding under this Agreement. For the purpose of making this computation, the Agent will disregard a notice from a Lender in circumstances where the Borrower has satisfied the Agent (supported by any evidence that the Agent may reasonably request) that the only reason why LIBOR or, as the case may be, EURIBOR would not reflect fairly the cost to that Lender of funding its participation in an Advance is a deterioration in that Lender's credit standing. (ii) LIBOR or, as the case may be, EURIBOR cannot be determined because no rate appears on the Screen for the relevant currency for the necessary period and fewer than two Reference Banks provide quotations. (iii) Lenders with Available Commitments exceeding 35% of the aggregate Available Commitments, or with participations exceeding 35% of the Loan, notify the Agent that they are unable to fund their participations in the Loan in the London inter- bank market or, as the case may be, European inter-bank market.
Sample 1
NATURE OF MARKET DISRUPTION. This sub-clause applies if any of (i), (ii), (iii) or (iv) is true: (i) The Agent believes that there are no reasonable means to ascertain LIBOR because of circumstances in the London inter-bank market. This determination may only be made after consultation with the Reference Banks. (ii) Lenders with Commitments exceeding 35% of the Total Commitments, or with participations exceeding 35% of the Loan, notify the Agent that they believe that LIBOR would not reflect fairly the cost to them of funding an amount outstanding under this Agreement. (iii) LIBOR cannot be determined because fewer than three Reference Banks provide quotations. (iv) Lenders with Commitments exceeding 35% of the Total Commitments, or with participations exceeding 35% of the Loan, notify the Agent that they are unable to fund their participation in the Loan in the London interbank market.
Sample 1
NATURE OF MARKET DISRUPTION. This sub-clause applies if any of (i), (ii), or (iii) are true: (i) Lenders with Available Revolving Facility Commitments exceeding 35% of the aggregate Available Revolving Facility Commitments notify the Agent that they believe that LIBOR would not reflect fairly the cost to them of funding their participations in any relevant Advance (the "AFFECTED ADVANCE"
Sample 1
NATURE OF MARKET DISRUPTION. This Clause 9.1 applies if in relation to the Advance any of the following is true: (i) the Agent believes that there are no reasonable means to ascertain LIBOR because of circumstances generally applicable in the London inter-bank market. This determination may only be made after consultation with the Reference Banks; or (ii) Lenders with Commitments exceeding 40 per cent. of the Total Commitments notify the Agent that they believe that, due to circumstances generally applicable in the London inter-bank market, LIBOR would not reflect accurately the cost to them in such market of funding an amount equal to the Advance; or (iii) LIBOR cannot be determined because fewer than two Reference Banks provide quotations; or (iv) Lenders with Commitments exceeding 40 per cent. of the Total Commitments notify the Agent that they are unable to fund the total amount borrowed in the London inter-bank market because of circumstances generally applicable in that market.
Sample 1
NATURE OF MARKET DISRUPTION. This sub-Clause applies if any of (i), (ii), (iii) or (iv) is true: (i) The Agent believes that there are no reasonable means to ascertain LIBOR or EURIBOR because of circumstances in the London or the European inter-bank market. This determination may only be made after consultation with the Reference Banks. (ii) Lenders with Commitments exceeding 50% of the Total Commitments, or with participations exceeding 50% of the Loan, notify the Agent that they believe that LIBOR or EURIBOR would not reflect fairly the cost to them of funding an amount outstanding under this Agreement. (iii) LIBOR or EURIBOR cannot be determined because fewer than three Reference Banks provide quotations. (iv) Lenders with Commitments exceeding 50% of the Total Commitments, or with participations exceeding 50% of the Loan, notify the Agent that they are unable to fund their participation in the Loan in the London or European inter-bank market.
Sample 1
NATURE OF MARKET DISRUPTION. This sub-Clause applies if any of (i), (ii), (iii) or (iv) is true: (i) The Agent believes that there are no reasonable means to ascertain LIBOR, EURIBOR or, as the case may be, PIBOR because of circumstances in the London, European or Paris inter-bank markets respectively. This determination may only be made after consultation with the Reference Banks. (ii) Lenders with Commitments exceeding 50% of the Total Commitments, or with participations exceeding 50% of the Loan, notify the Agent that they believe that LIBOR, EURIBOR or, as the case may be, PIBOR would not reflect fairly the cost to them of funding an amount outstanding under this Agreement. (iii) LIBOR, EURIBOR or, as the case may be, PIBOR cannot be determined because fewer than three Reference Banks provide quotations. (iv) Lenders with Commitments exceeding 50% of the Total Commitments, or with participations exceeding 50% of the Loan, notify the Agent that they are unable to fund their participation in the Loan in London (in the case of amounts in currencies other than euro and sterling), European (in the case of amounts in euros) or Paris (in the case of amounts in sterling) interbank market.
Sample 1
AutoNDA by SimpleDocs
NATURE OF MARKET DISRUPTION. This sub-clause applies if any of (i), (ii) or (iii) is true: (i) Lenders with Commitments exceeding 50% of the Total Commitments, or with participations exceeding 50% of the Loan, notify the Agent that they believe that EURIBOR, or as the case may be, LIBOR would not reflect fairly the cost to them of funding an amount outstanding under this Agreement. (ii) EURIBOR, or as the case may be, LIBOR cannot be determined because fewer than two Reference Banks provide quotations. (iii) Lenders with Commitments exceeding 50% of the Total Commitments, or with participations exceeding 50% of the Loan, notify the Agent that they are unable to fund their participation in the Loan in the London or, as the case may be, Paris interbank market.
Sample 1
NATURE OF MARKET DISRUPTION. This Clause 13.1 applies if in relation to any Advance under the Facilities any of the following is true: (i) the Agent believes that there are no reasonable means to ascertain LIBOR because of circumstances generally applicable in the London inter-bank market. This determination may only be made after consultation with the Reference Banks; or (ii) Lenders with Commitments exceeding 40 per cent. of the Total Commitments notify the Agent that they believe that, due to circumstances generally applicable in the London inter-bank market, LIBOR would not reflect accurately the cost to them in such market of funding an amount equal to the Advance; or (iii) LIBOR cannot be determined because fewer than two Reference Banks provide quotations; or (iv) Lenders with Commitments exceeding 40 per cent. of the total Commitments notify the Agent that they are unable to fund the total amount borrowed by way of Advances in the London inter-bank market because of circumstances generally applicable in that market.
Sample 1

Related to NATURE OF MARKET DISRUPTION

  • Notification of market disruption The Agent shall promptly notify the Borrowers and each of the Lenders stating the circumstances falling within Clause 5.7 which have caused its notice to be given.

  • Market Disruption (a) If a Market Disruption Event occurs in relation to a Loan for any Interest Period, then the rate of interest on each Lender’s share of that Loan for the Interest Period shall be the percentage rate per annum which is the sum of: (i) the Margin; (ii) the rate notified to the Agent by that Lender as soon as practicable and in any event before interest is due to be paid in respect of that Interest Period, to be that which expresses as a percentage rate per annum the cost to that Lender of funding its participation in that Loan from whatever source it may reasonably select; and (iii) the Mandatory Cost, if any, applicable to that Lender’s participation in the Loan. (b) In this Agreement “Market Disruption Event” means:

  • Market Disruption Event Section 6.3(a) of the Equity Definitions is hereby replaced in its entirety by the following:

  • H5 Disruption The Contractor shall take reasonable care to ensure that in the performance of its obligations under the Contract it does not disrupt the operations of the Authority, its employees or any other contractor employed by the Authority.

  • Additional Disruption Events Change in Law: Applicable; provided that Section 12.9(a)(ii) of the Equity Definitions is hereby amended by adding the words “(including, for the avoidance of doubt and without limitation, adoption or promulgation of new regulations authorized or mandated by existing statute)” after the word “regulation” in the second line thereof.

  • Inability to Determine Eurodollar Rate In the event, prior to the commencement of any Interest Period relating to any Eurodollar Rate Loan, the Administrative Agent shall determine or be notified by the Required Lenders that adequate and reasonable methods do not exist for ascertaining the Eurodollar Rate that would otherwise determine the rate of interest to be applicable to any Eurodollar Rate Loan during any Interest Period, the Administrative Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the Lenders) to the Borrower and the Lenders. In such event (a) any Loan Request or Conversion Request with respect to Eurodollar Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Eurodollar Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (c) the obligations of the Lenders to make Eurodollar Rate Loans shall be suspended until the Administrative Agent or the Required Lenders determine that the circumstances giving rise to such suspension no longer exist, whereupon the Administrative Agent or, as the case may be, the Administrative Agent upon the instruction of the Required Lenders, shall so notify the Borrower and the Lenders.

  • Inability to Determine Rates If the Required Lenders determine that for any reason in connection with any request for a Eurodollar Rate Loan or a conversion to or continuation thereof that (a) Dollar deposits are not being offered to banks in the London interbank eurodollar market for the applicable amount and Interest Period of such Eurodollar Rate Loan, (b) adequate and reasonable means do not exist for determining the Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Loan, or (c) the Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Loan does not adequately and fairly reflect the cost to such Lenders of funding such Loan, the Administrative Agent will promptly so notify the Borrower and each Lender. Thereafter, the obligation of the Lenders to make or maintain Eurodollar Rate Loans shall be suspended until the Administrative Agent (upon the instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Eurodollar Rate Loans or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans in the amount specified therein.

  • Business Disruption; Condemnation There shall occur a cessation of a substantial part of the business of Borrowers and their Subsidiaries (taken as a whole) for a period which materially adversely affects the capacity of Borrowers and their Subsidiaries to continue their business on a profitable basis; or any Borrower, any of its Subsidiaries or any Guarantor shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by such Borrower, such Subsidiary or such Guarantor which is necessary to the continued or lawful operation of a material portion of the business of Borrowers and their Subsidiaries (taken as a whole); or any Borrower, any of its Subsidiaries or any Guarantor shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of the business affairs of Borrowers and their Subsidiaries (taken as a whole); or any material lease or agreement pursuant to which any Borrower, any of its Subsidiaries or any Guarantor leases, uses or occupies any Property shall be canceled or terminated prior to the expiration of its stated term, except any such lease or agreement the cancellation or termination of which could not reasonably be expected to have a Material Adverse Effect; or any material portion of the Collateral shall be taken through condemnation or the value of such Property shall be materially impaired through condemnation, except for any such condemnation that would not reasonably be expected to have a Material Adverse Effect.

  • Postal Disruption Despite section A17.2(a), in the event of a postal disruption: (a) Notice by postage-prepaid mail will not be deemed to be given; and (b) the Party giving Notice will give Notice by email, personal delivery, or fax.

  • Inability to Determine LIBOR Rate In the event, prior to the commencement of any Interest Period relating to any Libor Rate Loan, the Agent shall determine that adequate and reasonable methods do not exist for ascertaining the Libor Rate that would otherwise determine the rate of interest to be applicable to any Libor Rate Loan during any Interest Period, the Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower) to the Borrower and the Lenders. In such event (a) any Loan Request with respect to Libor Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans, (b) each Libor Rate Loan will automatically, on the last day of the then current Interest Period applicable thereto, become a Base Rate Loan, and (c) the obligations of the Lenders to make Libor Rate Loans shall be suspended, in each case unless and until the Agent determines that the circumstances giving rise to such suspension no longer exist, whereupon the Agent shall so notify the Borrower and the Lenders.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!