Common use of Unavailability of Eurodollar Funds Clause in Contracts

Unavailability of Eurodollar Funds. An Adjusted LIBO Rate will not be available for the Term Loan Facility if a particular Lender at any time determines or reasonably believes that (1) Eurodollar deposits equal to the amount of principal under the Term Loan Facility for the applicable Interest Period are unavailable, or (2) an Adjusted LIBO Rate will not adequately and fairly reflect the cost of maintaining balances under the Term Loan Facility, or (3) by reason of circumstances affecting Eurodollar markets, adequate and reasonable means do not then exist for ascertaining an Adjusted LIBO Rate. Such Lender will give Administrative Agent notice of any such determination and adjustment within a reasonable period of time thereafter. Upon receipt of such notice, Administrative Agent will provide a copy thereof to Borrowers, and (upon written request) such Lender will furnish to Administrative Agent and Borrowers a statement setting forth the basis for such determination or reasonable belief. A determination or belief by any Lender hereunder will be conclusive absent manifest error.

Appears in 5 contracts

Samples: Credit Facility Agreement (Talk Com), Credit Facility Agreement (Bizness Online Com), Credit Facility Agreement (MCG Finance Corp)

AutoNDA by SimpleDocs

Unavailability of Eurodollar Funds. An Adjusted adjusted LIBO Rate will not be available for Portions under the Term Loan Facility if a particular any Lender at any time prior to the commencement of the relevant Interest Period determines or reasonably believes that (1) Eurodollar deposits equal to the principal amount of principal under the Term Loan Facility such Portion for the applicable Interest Period are unavailable, or OR (2) an Adjusted LIBO Rate will not adequately and fairly reflect the cost of maintaining balances under the Term Loan Facility, or OR (3) by reason of circumstances affecting Eurodollar markets, adequate and reasonable means do not then exist for ascertaining an Adjusted LIBO Rate. Such Lender will give Administrative Agent notice of any such determination and adjustment event within a reasonable period of time thereafter. Upon receipt of any such notice, Administrative Agent will provide a copy thereof to Borrowers, and AND (upon Borrowers' written requestrequest through Administrative Agent) such Lender will furnish a statement to Administrative Agent and Borrowers a statement setting forth the basis for such determination or reasonable belief. A determination or belief by any Lender hereunder will be conclusive absent manifest error.

Appears in 2 contracts

Samples: Credit Facility Agreement (CCC Information Services Group Inc), Credit Facility Agreement (CCC Information Services Group Inc)

Unavailability of Eurodollar Funds. An Adjusted LIBO Rate will not be available for Portions under the Term Loan Line of Credit Facility if a particular any Lender at any time prior to the commencement of the relevant Interest Period determines or reasonably believes that (1) Eurodollar deposits equal to the principal amount of principal under the Term Loan Facility such Portion for the applicable Interest Period are unavailable, or OR (2) an Adjusted LIBO Rate will not adequately and fairly reflect the cost of maintaining balances under the Term Loan Line of Credit Facility, or OR (3) by reason of circumstances affecting Eurodollar markets, adequate and reasonable means do not then exist for ascertaining an Adjusted LIBO Rate. Such Lender will give Administrative Agent notice of any such determination and adjustment event within a reasonable period of time thereafter. Upon receipt of any such notice, Administrative Agent will provide a copy thereof to Borrowers, and AND (upon borrowers' written requestrequest through Administrative Agent) such Lender will furnish a statement to Administrative Agent and Borrowers a statement setting forth the basis for such determination or reasonable belief. A determination or belief by any Lender hereunder will be conclusive absent manifest error.

Appears in 2 contracts

Samples: Credit Facility Agreement (CCC Information Services Group Inc), Credit Facility Agreement (CCC Information Services Group Inc)

Unavailability of Eurodollar Funds. An Adjusted LIBO Rate will not be available for the Term Loan Facility if a particular Lender at any time determines or reasonably believes that (1) Eurodollar deposits equal to the amount of principal under the Term Loan Facility for the applicable Interest Period are unavailable, or (2) an Adjusted LIBO Rate will not adequately and fairly reflect the cost of maintaining balances under the Term Loan Facility, or (3) by reason of circumstances affecting Eurodollar markets, adequate and reasonable means do not then exist for ascertaining an Adjusted LIBO Rate. Such Lender will give Administrative Agent notice of any such determination and adjustment within a reasonable period of time thereafter. Upon receipt of such notice, Administrative Agent will provide a copy thereof to Borrowers, and (upon written request) such Lender will furnish to Administrative Agent and Borrowers a statement statxxxxx setting forth the basis for such determination or reasonable belief. A determination or belief by any Lender hereunder will be conclusive absent manifest error.

Appears in 1 contract

Samples: Credit Facility Agreement (MCG Finance Corp)

AutoNDA by SimpleDocs

Unavailability of Eurodollar Funds. An Adjusted LIBO Rate will not be available for the Term Loan Line of Credit Facility if a particular Lender at any time determines or reasonably believes that (1) Eurodollar deposits equal to the amount of principal under the Term Loan Line of Credit Facility for the applicable Interest Period are unavailable, or (2) an Adjusted LIBO Rate will not adequately and fairly reflect the cost of maintaining balances under the Term Loan Line of Credit Facility, or (3) by reason of circumstances affecting Eurodollar markets, adequate and reasonable means do not then exist for ascertaining an Adjusted LIBO Rate. Such Lender will give Administrative Agent notice of any such determination and adjustment within a reasonable period of time thereafter. Upon receipt of such notice, Administrative Agent will provide a copy thereof to Borrowers, and (upon written request) such Lender will furnish to Administrative Agent and Borrowers a statement setting forth the basis for such determination or reasonable belief. A determination or belief by any Lender hereunder will be conclusive absent manifest error.

Appears in 1 contract

Samples: Credit Facility Agreement (Talk Com)

Unavailability of Eurodollar Funds. An Adjusted LIBO Rate will not be available for Portions under the Term Loan Line of Credit Facility if a particular any Lender at any time prior to the commencement of the relevant Interest Period determines or reasonably believes that (1) Eurodollar deposits equal to the principal amount of principal under the Term Loan Facility such Portion for the applicable Interest Period period are unavailable, or OR (2) an Adjusted LIBO Rate will not adequately and fairly reflect the cost of maintaining balances under the Term Loan Line of Credit Facility, or OR (3) by reason of circumstances affecting Eurodollar markets, adequate and reasonable means do not then exist for ascertaining an Adjusted LIBO Rate. Such Lender will give Administrative Agent notice of any such determination and adjustment event within a reasonable period of time thereafter. Upon receipt of any such notice, Administrative Agent will provide a copy thereof to BorrowersBorrower, and (upon written request) AND such Lender will furnish a statement to Administrative Agent and Borrowers a statement Borrower setting forth the basis for such determination or reasonable belief. A determination or belief by any Lender hereunder will be conclusive absent manifest error.

Appears in 1 contract

Samples: Credit Facility Agreement (CCC Information Services Group Inc)

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