Unavailability of Deposits or Inability to Ascertain Adjusted LIBOR. Notwithstanding any other provision of this Agreement or of the Notes, if prior to the commencement of any Interest Period: (a) the Agent or Required Lenders in good faith determine that deposits in the amount of any LIBOR Portion scheduled to be outstanding during such Interest Period are not readily available to the Lenders in the relevant market; (b) the Agent or Required Lenders in good faith determine that by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining Adjusted LIBOR; or (c) the Agent or Required Lenders in good faith determine that (i) LIBOR as determined by the Agent will not adequately and fairly reflect the cost to the Lenders of funding their LIBOR Portions for such Interest Period and (ii) the Lenders' rights to payment under Section 2.7 hereof will not reasonably compensate them for such inadequate or unfair reflection of such cost; then the Agent or Required Lenders, as the case may be, shall promptly give notice thereof to the other Lenders and the Company and the obligations of the Lenders to create, continue or effect by conversion any LIBOR Portion in such amount and for such Interest Period shall terminate until deposits in such amount and for the Interest Period selected by or on behalf of the relevant Borrower shall again be readily available in the relevant market and adequate and reasonable means exist for ascertaining Adjusted LIBOR.
Appears in 2 contracts
Samples: Credit Agreement (Morton Industrial Group Inc), Credit Agreement (Morton Industrial Group Inc)
Unavailability of Deposits or Inability to Ascertain Adjusted LIBOR. Notwithstanding any other provision of this Agreement or of the Notesany Note, if prior to the commencement of any Interest Period:
(a) , the Agent or Required Lenders in good faith shall determine that deposits in the amount of any LIBOR Portion scheduled to be outstanding during such Interest Period are not readily available to the such Lenders in the relevant market;
(b) the Agent or Required Lenders in good faith determine that market or, by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining Adjusted LIBOR; or
(c) the Agent or Required , then such Lenders in good faith determine that (i) LIBOR as determined by the Agent will not adequately and fairly reflect the cost to the Lenders of funding their LIBOR Portions for such Interest Period and (ii) the Lenders' rights to payment under Section 2.7 hereof will not reasonably compensate them for such inadequate or unfair reflection of such cost; then the Agent or Required Lenders, as the case may be, shall promptly give notice thereof to the other Lenders Agent (which shall in turn promptly notify the Borrower and the Company other Lenders) and the obligations of the Lenders to create, continue or effect by conversion any LIBOR such Fixed Rate Portion in such amount and for such Interest Period shall terminate until deposits in such amount and for the Interest Period selected by or on behalf of the relevant Borrower shall again be readily available in the relevant market and adequate and reasonable means exist for ascertaining Adjusted LIBOR. Upon the giving of such notice, the Borrower may, on the last day of the then applicable Interest Period, elect to either (i) pay the Affected Portions or (ii) convert such Portions into the Domestic Rate Portions or an available Portion selected by the Borrower of a type not affected by the foregoing, subject to the terms and conditions of this Agreement.
Appears in 2 contracts
Samples: Revolving and Term Credit Agreement (Hewitt Associates Inc), Revolving and Term Credit Agreement (Hewitt Associates Inc)
Unavailability of Deposits or Inability to Ascertain Adjusted LIBOR. Notwithstanding any other provision of this Agreement or of the Notes, if prior to the commencement of any Interest Period:
(a) the Agent or Required Lenders in good faith determine that deposits in the amount of any LIBOR Portion scheduled to be outstanding during such Interest Period are not readily available to the Lenders in the relevant market;
(b) the Agent or Required Lenders in good faith determine that by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining Adjusted LIBOR; or
(c) the Agent or Required Lenders in good faith determine that (i) LIBOR as determined by the Agent will not adequately and fairly reflect the cost to the Lenders of funding their LIBOR Portions for such Interest Period and (ii) the Lenders' rights to payment under Section 2.7 hereof will not reasonably compensate them for such inadequate or unfair reflection of such cost; then the Agent or Required Lenders, as the case may be, shall promptly give notice thereof to the other Lenders and the Company Borrower and the obligations of the Lenders to create, continue or effect by conversion any LIBOR Portion in such amount and for such Interest Period shall terminate until deposits in such amount and for the Interest Period selected by or on behalf of the relevant Borrower shall again be readily available in the relevant market and adequate and reasonable means exist for ascertaining Adjusted LIBOR.
Appears in 2 contracts
Samples: Credit Agreement (Morton Industrial Group Inc), Credit Agreement (Morton Industrial Group Inc)
Unavailability of Deposits or Inability to Ascertain Adjusted LIBOR. Notwithstanding any other provision of this Agreement or of the Notesany Note, if prior to the commencement of any Interest Period:
(a) , the Agent or Required Lenders shall determine in good faith determine that (i) deposits in the applicable currency in the amount of any LIBOR Portion scheduled to be outstanding in such currency during such Interest Period are not readily available to the such Lenders in the relevant market;
market or (bii) the Agent or Required Lenders in good faith determine that by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining Adjusted LIBOR; or
LIBOR Rate or (c) iii)currency control or other exchange regulations are imposed in the Agent or Required Lenders country in good faith determine which an Alternative Currency is issued with the result that (i) LIBOR as determined by the Agent will not adequately and fairly reflect the cost to the Lenders of funding their LIBOR Portions for such Interest Period and (ii) the Lenders' rights to payment under Section 2.7 hereof will not reasonably compensate them for such inadequate or unfair reflection different types of such cost; currency are issued or (iv) in the determination of the Agent, a U.S. Dollar Equivalent of an Alternative Currency is not readily calculable, then the Agent or Required Lenders, as the case may be, (x) such Lenders shall promptly give notice thereof to the other Lenders and Agent (which shall in turn promptly notify the Company and the other Lenders), (y) the obligations of the Lenders to create, continue or effect by conversion any such LIBOR Portion in such amount and for such Interest Period shall terminate until deposits in such amount amount, in such currency and for the Interest Period selected by or on behalf of the relevant Borrower Company shall again be readily available in the relevant market and adequate and reasonable means exist for ascertaining Adjusted LIBOR.for
Appears in 1 contract
Samples: Long Term Multicurrency Credit Agreement (Anicom Inc)
Unavailability of Deposits or Inability to Ascertain Adjusted LIBOR. Notwithstanding any other provision of this Agreement or of the Notesany Note, if prior to the commencement of any Interest Period:
(a) , the Agent or Required Lenders shall determine in good faith determine that deposits in the amount of any LIBOR Portion scheduled to be outstanding during such Interest Period are not readily available to the such Lenders in the relevant market;
(b) the Agent or Required Lenders in good faith determine that market or, by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining Adjusted LIBOR; or
(c) the Agent or Required , then such Lenders in good faith determine that (i) LIBOR as determined by the Agent will not adequately and fairly reflect the cost to the Lenders of funding their LIBOR Portions for such Interest Period and (ii) the Lenders' rights to payment under Section 2.7 hereof will not reasonably compensate them for such inadequate or unfair reflection of such cost; then the Agent or Required Lenders, as the case may be, shall promptly give notice thereof to the other Lenders Agent (which shall in turn promptly notify the Company and the Company other Lenders) and the obligations of the Lenders to create, continue create or effect by conversion any such LIBOR Portion in such amount and for such Interest Period, or to continue an existing LIBOR Portion beyond its current Interest Period for such new Interest Period, in each case shall terminate until deposits in such amount and for the Interest Period selected by or on behalf of the relevant Borrower Company shall again be readily available in the relevant market and adequate and reasonable means exist for ascertaining Adjusted LIBOR.
Appears in 1 contract
Unavailability of Deposits or Inability to Ascertain Adjusted LIBOR. Notwithstanding any other provision of this Agreement or of the Notesany Note, if prior to the commencement of any Interest Period:
(a) , the Agent or Required Lenders shall determine in good faith determine that deposits in the amount of any LIBOR Portion scheduled of a Loan requested to be outstanding during made, continued or effected by conversion for such Interest Period are not readily available to the such Lenders in the relevant market;
(b) the Agent or Required Lenders in good faith determine that market or, by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining Adjusted LIBOR; or
(c) the Agent or Required , then such Lenders in good faith determine that (i) LIBOR as determined by the Agent will not adequately and fairly reflect the cost to the Lenders of funding their LIBOR Portions for such Interest Period and (ii) the Lenders' rights to payment under Section 2.7 hereof will not reasonably compensate them for such inadequate or unfair reflection of such cost; then the Agent or Required Lenders, as the case may be, shall promptly give notice thereof to the other Lenders Administrative Agent (which shall in turn promptly notify the Company and the Company other Lenders) and the obligations of the Lenders to create, continue or effect by conversion any such LIBOR Portion in such amount and for such Interest Period shall terminate until deposits in such amount and for the Interest Period selected by or the Company (which is acting on behalf of the relevant Borrower Borrowers pursuant to Section 1.7 hereof) shall again be readily available in the relevant market and adequate and reasonable means exist for ascertaining Adjusted LIBOR.
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