Unavailability of LIBOR Rate. Subject to Section 2.4(g), in the event that Lender shall have determined (which determination shall be conclusive and binding upon Borrower absent manifest error) that by reason of circumstances affecting the interbank eurodollar market, adequate and reasonable means do not exist for ascertaining the LIBOR Rate (and LIBOR has not been succeeded by an Alternate Index as set forth in Section 2.4(g) below), then Lender shall forthwith give notice by telephone of such determination, confirmed in writing, to Borrower at least one (1) day prior to the last day of the related Interest Accrual Period. If such notice is given, the Loan, commencing with the first (1st) day of the next succeeding Interest Accrual Period, shall be converted to a Base Rate Loan bearing interest based on the Base Rate Interest Rate in effect on the related Determination Date, and thereafter the Interest Rate shall be the Base Rate Interest Rate. If, pursuant to the terms of this Agreement, the Loan has been converted to a Base Rate Loan and thereafter: (i) Lender shall determine (which determination shall be conclusive and binding upon Borrower absent manifest error) that the event(s) or circumstance(s) which resulted in such conversion shall no longer be applicable, Lender shall give notice thereof to Borrower, and the Base Rate Interest Rate shall convert to the LIBOR Rate effective on the first (1st) day of the next succeeding Interest Accrual Period; or (ii) if LIBOR cannot be determined and has been succeeded by an Alternate Index pursuant to Section 2.4(g) below, then Lender shall give notice thereof to Borrower and convert the Base Rate Loan to an Alternate Rate Loan by delivering to Borrower notice of such conversion no later than 11:00 a.m. (New York City Time), three (3) Business Days prior to the next succeeding Determination Date, in which event the Base Rate Loan shall be converted to an Alternate Rate Loan from, after and including the first day of the next succeeding Interest Accrual Period. Notwithstanding any provision of this Agreement to the contrary, in no event shall Borrower have the right to elect to convert a LIBOR Rate Loan to a Base Rate Loan, or to convert a Base Rate Loan to a LIBOR Rate Loan or an Alternate Rate Loan.
Unavailability of LIBOR Rate. In the event that Borrowers shall have requested a LIBOR Rate Loan pursuant to the terms of this Agreement and Lender, in its sole discretion, shall have determined that U.S. dollar deposits in the relevant amount and for the relevant LIBOR Interest Period are not available to the Lender in the London interbank market; or by reason of circumstances affecting the Lender in the London interbank market, adequate and reasonable means do not exist for ascertaining the LIBOR Rate applicable to the relevant LIBOR Interest Period; or the LIBOR Rate no longer adequately and fairly reflects the Lender’s cost of funding loans; upon notice from the Lender to the Borrowers, the obligations of the Lender to make such LIBOR Rate Loan or to make or continue any loans as, or to convert any loans into, LIBOR Rate Loans of such duration shall forthwith be suspended until the Lender shall notify the Borrowers that the circumstances causing such suspension no longer exist.
Unavailability of LIBOR Rate. In the event that Borrower shall have requested a LIBOR Rate Loan and/or a LIBOR Advantage Rate Loan in accordance with the Note and this Agreement and the Bank, in its sole discretion, shall have determined that U.S. dollar deposits in the relevant amount and for the relevant LIBOR Interest Period are not available to the Bank in the London interbank market; or by reason of circumstances affecting the Bank in the London interbank market, adequate and reasonable means do not exist for ascertaining the LIBOR Rate and/or the LIBOR Advantage Rate applicable to the relevant LIBOR Interest Period; or the LIBOR Rate or the LIBOR Advantage Rate no longer adequately and fairly reflects the Bank’s cost of funding loans; upon notice from the Bank to the Borrower, the obligations of the Bank hereunder and under this Agreement to make or continue any loans as, or to convert any loans into, LIBOR Rate Loans and/or LIBOR Advantage Rate Loans of such duration shall forthwith be suspended until the Bank shall notify the Borrower that the circumstances causing such suspension no longer exist.
Unavailability of LIBOR Rate. If Bank shall have determined that:
Unavailability of LIBOR Rate. In the event that the Bank, in its sole discretion, shall have determined that U.S. dollar deposits in the relevant amount and for any LIBOR Interest Period are not available to the Bank in the London interbank market; or by reason of circumstances affecting the Bank in the London interbank market, adequate and reasonable means do not exist for ascertaining One Month LIBOR applicable to the relevant LIBOR Interest Period; or One Month LIBOR no longer adequately and fairly reflects the Bank’s cost of funding loans; upon notice from the Bank to the Borrower, the obligations of the Bank hereunder and under this Agreement to make or continue the Term Loan as a LIBOR Rate Loan shall forthwith be suspended until the Bank shall notify the Borrower that the circumstances causing such suspension no longer exist, and the Term Loan shall automatically convert into a Prime Rate Loan at the end of the then current LIBOR Interest Period or sooner, if required by such law or assertion.
Unavailability of LIBOR Rate. In the event that Borrower shall have requested a LIBOR Rate Loan and Lender, in its sole discretion, shall have determined that U.S. dollar deposits in the relevant amount and for the relevant LIBOR Interest Period are not available to Lender in the London interbank market; or by reason of circumstances affecting Lender in the London interbank market, adequate and reasonable means do not exist for ascertaining the LIBOR Rate applicable to the relevant LIBOR Interest Period; or the LIBOR Rate no longer adequately and fairly reflects Lender’s cost of funding loans, upon notice from Lender to Borrower the obligations of Lender under this Agreement to make or continue any loans as, or to convert any loans into, LIBOR Rate Loans of such duration shall forthwith be suspended until Lender shall notify Borrower that the circumstances causing such suspension no longer exist. Schedule 2 LEASE AGREEMENTS Tenant Location Landlord Approx. Expire Date (without exercise of options) Flyer Enterprises, Inc. 00000 Xxxxx Xx. Xxxxxxxx Xxxxxxx, XX 00000 AIG Xxxxx Xxxxxxxx Heights, LLC December 2009 Anker, Inc 0000 Xxxxxx Xxxx Xx. Xxxxxx, XX 00000 Terra Management Company March 2011 TMA Enterprises of Novi, Inc 00000 Xxxxxx Xxxx Xx. Xxxx, XX 00000 PLC Novi West Development, LLC April 2014 AMC Grand Blanc, Inc. 0000 Xxxxxxxx Xxxxxx Xxx. Xxxxx 000 Xxxxx Xxxxx, XX 00000 Trillim Circle, LLC January/February 2018 AMC Petoskey, Inc. 0000 Xxxxxxxx Xx. Ste. 110 Petoskey, MI 49770 Petoskey Investment Group, LLC August/September 2018 AMC Troy, Inc. 0000 X. Xxx Xxxxxx Xx. Xxxx, XX 00000 Troy Sports Center LLC March, 2018 AMC Flint, Inc. X-0000 Xxxxx Xxxxxx Xxxx Xxxxx, XX 00000 Ramco-Xxxxxxxxxx Properties, L.P. January/February 2019 AMC Port Huron, Inc. 0000 00xx Xxxxxx Xxx. 0 Xxxx Xxxxx, XX 00000 Xxxxxx Xxxxxxxx and Xxxx X. Xxxxxxxx August/September 2018 AMC Chesterfield, Inc. 00000 Xxxxxxx Xxxxxx Xxxxxxxxxxxx, XX 00000 Chesterfield Development Company, LLC ____ 2020 AMC Marquette, Inc 0000 X.X. Xxxxxxx 00 Xxxx Xxxxxxxxx, XX Centrup Hospitality, LLC _____ 2025 MCA Enterprises Xxxxxxx, Inc. 0000 Xxxxxxxx Xxxxx Xxxxxxx, XX 00000 Florida Wings Group, LLC August/September 2024 AMC North Port, Inc. 0000 Xxxxx Xxxx North Port, FL 34287 North Port Gateway, LLC June/July/August 2016 AMC Riverview, Inc 00000 Xxx Xxxx Xx. Xxxxxxxxx, XX 00000 Shoppes of Southbay, LLC August/September/October 2016 Berkley Burgers, Inc. 0000 Xxxxxxxx Xxxxxxx Berkley, MI 48072 TM Apple Co., LLC January/February 2023 T...
Unavailability of LIBOR Rate. If in the sole judgment of Lender (a) it becomes unlawful for Lender to obtain funds in the London interbank market or to continue to fund or maintain principal amounts bearing interest at rates determined by reference to the LIBOR Rate; or (b) because of conditions in the relevant money markets, the LIBOR Rate will not adequately reflect the cost to Lender of making, funding or maintaining the principal amount of the Loan; or (c) the LIBOR Rate is no longer available or is no longer calculated or reported on a basis reasonably comparable to the basis on which it is calculated and reported on the date of this Agreement, then, in any such event, Lender will choose a new index that reasonably reflects the cost to Lender of making, funding or maintaining the principal amount of the Loan, and such new index will then be the Index. Lender will give Borrower notice of such choice. Section 2.8.
Unavailability of LIBOR Rate. If, after the date ---------------------------- hereof, the Lender determines that the LIBOR Rate cannot be determined, the Lender and the Borrower shall negotiate in good faith to establish an alternate index as a basis for setting interest rates hereunder, which shall approximate the LIBOR Rate as closely as possible. Until such alternate index is agreed upon, interest shall accrue at the greater of (a) the LIBOR Rate most recently determined under this Agreement plus three-eighths of one percent (.375%) from time to time in effect thereafter and (b) the Prime Rate less two percent (2.0%) for a period not to exceed 30 days, during which time the parties shall agree upon an alternate index.
Unavailability of LIBOR Rate. In the event that Lender shall have determined (which determination shall be conclusive and binding upon Maker absent manifest error) that by reason of circumstances affecting the interbank eurodollar market, adequate and reasonable means do not exist for ascertaining the LIBOR Rate, then Lender shall forthwith give notice by telephone of such determination, confirmed in writing, to Maker at least one (1) day prior to the last day of the related Interest Period. If such notice is given, the Note Rate, commencing with the first (1st) day of the next succeeding Interest Period, shall be the LIBOR Rate in effect for the most recent Interest Period (the “Static LIBOR Rate”). If, pursuant to the terms of this Agreement, the Loan has been converted to the Static LIBOR Rate and Lender shall determine (which determination shall be conclusive and binding upon Maker absent manifest error) that the event(s) or circumstance(s) which resulted in such conversion shall no longer be applicable, Lender shall give notice thereof to Maker, and the Static LIBOR Rate shall convert to the LIBOR Rate effective on the first day of the next succeeding Interest Period. Notwithstanding any provision of this Agreement to the contrary, in no event shall Maker have the right to elect to convert from the LIBOR Rate to the Static LIBOR Rate.
Unavailability of LIBOR Rate. Notwithstanding anything to the contrary herein or in any other Financing Agreement, and acknowledging that a LIBOR Transition Event has occurred, Agent may amend this Agreement to replace the LIBOR Rate with the LIBOR Replacement Rate. Any such amendment with respect to a LIBOR Transition Event shall become effective at 5:00 p.m. (Eastern Standard Time) on the third (3rd) Business Day after Agent has notified Borrower of such amendment. Any determination, decision or election that may be made by Agent pursuant to this Section 3.11 will be conclusive and binding absent manifest error and may be made in Agent's sole discretion and without consent from any other party.
