Common use of Role of Reference Banks Clause in Contracts

Role of Reference Banks. In the event that EURIBOR or LIBOR cannot be determined by the method described in clause (a) of the definitions “EURIBOR” or “LIBOR,” respectively, each Reference Bank agrees to furnish to the Facility Agent timely information for the purpose of determining EURIBOR or LIBOR, as the case may be, in accordance with the method described in clause (b) of the definitions thereof. If any one or more of the Reference Banks shall not furnish such timely information to the Facility Agent for the purpose of determining EURIBOR or LIBOR, the Facility Agent shall determine such interest rate on the basis of timely information furnished by the remaining Reference Banks.

Appears in 7 contracts

Samples: Credit Agreement (Philip Morris International Inc.), Credit Agreement (Philip Morris International Inc.), Credit Agreement (Philip Morris International Inc.)

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Role of Reference Banks. In the event that EURIBOR or LIBOR cannot be determined by the method described in clause (a) of the definitions “EURIBOR” or “LIBOR,” respectively, each Reference Bank agrees to furnish to the Facility Administrative Agent timely information for the purpose of determining EURIBOR or LIBOR, as the case may be, in accordance with the method described in clause (b) of the definitions thereof. If any one or more of the Reference Banks shall not furnish such timely information to the Facility Administrative Agent for the purpose of determining EURIBOR or LIBOR, the Facility Administrative Agent shall determine such interest rate on the basis of timely information furnished by the remaining Reference Banks.

Appears in 2 contracts

Samples: Credit Agreement (Philip Morris International Inc.), Credit Agreement (Kraft Foods Inc)

Role of Reference Banks. In the event that EURIBOR or LIBOR cannot be determined by the method described in clause (a) of the definitions definition of “EURIBOR” or “LIBOR,” ”, respectively, each Reference Bank agrees to furnish to the Facility Administrative Agent timely information for the purpose of determining EURIBOR or LIBOR, as the case may beapplicable, in accordance with the method described in clause (b) of the definitions applicable definition thereof. If any one or more of the Reference Banks shall not furnish such timely information to the Facility Agent Administrative Agent, for the purpose of determining EURIBOR or LIBOR, the Facility Administrative Agent shall determine such interest rate on the basis of timely information furnished by the remaining Reference Banks.. If fewer than two Reference Banks furnish timely information to the Administrative Agent for determining EURIBOR or LIBOR for any applicable Eurocurrency Rate Advance, then:

Appears in 1 contract

Samples: Bridge Loan Agreement (Kraft Foods Inc)

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Role of Reference Banks. In the event that EURIBOR or LIBOR cannot be determined by the method methods described in clause (a) or clause (b) of the definitions “EURIBOR” or “LIBOR,” respectively, each Reference Bank agrees to furnish to the Facility Agent timely information for the purpose of determining EURIBOR or LIBOR, as the case may be, in accordance with the method described in clause (bc) of the definitions thereof. If any one or more of the Reference Banks shall not furnish such timely information to the Facility Agent for the purpose of determining EURIBOR or LIBOR, the Facility Agent shall determine such interest rate on the basis of timely information furnished by the remaining Reference Banks.

Appears in 1 contract

Samples: Credit Agreement (Philip Morris International Inc.)

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