Inability to Determine Rates definition

Inability to Determine Rates. With respect to any Daily SOFR Loan or Term SOFR Loan, subject to Section 4.03(b) below, if: (i) Administrative Agent determines (which determination shall be conclusive and binding absent manifest error) that: (A) Daily Simple SOFR or the Adjusted Term SOFR Rate cannot be determined pursuant to the definition thereof; or (B) the Required Lenders determine that for any reason in connection with any request for such Loan or a conversion thereto or continuation thereof, that Daily Simple SOFR or the Adjusted Term SOFR Rate does not adequately and fairly reflect the cost to such Lenders of making or maintaining such Loan, and the Required Lenders have provided notice of such determination to Administrative Agent; (ii) then, in each case, Administrative Agent will promptly so notify Borrower and each applicable Lender. Upon notice thereof by Administrative Agent to Borrower, any obligation of the Lenders to make Daily SOFR Loans or Term SOFR Loans, as applicable, and any right of Borrower to convert any Loan to a Daily SOFR Loan or Term SOFR Loan, as applicable, shall be suspended (to the extent of the affected Loans and/or Interest Periods) until Administrative Agent (with respect to clause (B) above, at the instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, (I) Borrower may revoke any pending request for a borrowing of or conversion to Daily SOFR Loans or Term SOFR Loans (to the extent of the affected Loans or Interest Periods) or, failing that, Borrower will be deemed to have converted any such request into a request for a Borrowing of or conversion to Base Rate Loans in the amount specified therein and (II) any outstanding affected Daily SOFR Loans or Term SOFR Loans, to the extent affected, will be converted into Base Rate Loans immediately, or with respect to Term SOFR Loans, at the end of the applicable Interest Period. Upon any such conversion, Borrower shall also pay accrued interest on the amount so prepaid or converted together with any additional amounts required to be paid pursuant to Section 4.05. Subject to Section 4.03(b), if Administrative Agent determines (which determination shall be conclusive and binding absent manifest error) that the Adjusted Term SOFR Rate cannot be determined pursuant to the definition thereof on any given day, the interest rate on Base Rate Loans shall be determined by Administrative Agent without reference to clause (iii) of the definition of “Base Rate” until Administrative Agent ...
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Inability to Determine Rates is hereby amended and restated to read in its entirety as follows:
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Examples of Inability to Determine Rates in a sentence

  • After the giving of any such Notice of Inability to Determine Rates and until Administrative Agent shall otherwise notify Borrower and the Lenders that the circumstances giving rise to such condition no longer exist, Borrower’s right to request the continuation of LIBO Rate Loans shall be suspended.

  • TAXES, YIELD PROTECTION AND ILLEGALITY 43 3.01 Taxes 43 3.02 Illegality 47 3.03 Inability to Determine Rates 48 3.04 Increased Costs; Reserves on Eurodollar Rate Loans 48 3.05 Compensation for Losses 49 3.06 Mitigation Obligations; Replacement of Lenders 50 3.07 Survival 50 ARTICLE IV.

  • Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted.3.03 Inability to Determine Rates.

  • Inability to Determine Rates .................................................................................

  • Loans shall be made as Base Rate Loans unless, subject to Sections 3.02 (Illegality), 3.03 (Determination of Rates; Inability to Determine Rates), 3.04 (Increased Cost and Reduced Return; Capital Adequacy) or 3.05 (Funding Losses), the Notice of Borrowing specifies that all or a portion thereof shall be Eurodollar Rate Loans.

  • Section 3.03 of the Credit Agreement is hereby amended by deleting Section 3.03 in its entirety and restating it as follows: 3.03 Inability to Determine Rates.

  • Identify staff and how the activities will be measured for effectiveness.Provide the number of new seniors to be served for one year.

  • TAXES, YIELD PROTECTION AND ILLEGALITY 68 3.01 Taxes 68 3.02 Illegality 72 3.03 Inability to Determine Rates 73 3.04 Increased Costs; Reserves on Eurodollar Rate Loans 74 3.05 Compensation for Losses 76 3.06 Mitigation Obligations; Replacement of Lenders 76 3.07 Survival 77 ARTICLE IV.

  • Risks are identified and a risk rank is determined for each by combining the likelihood of the outcome with the consequences of the outcomes.

  • TAXES, YIELD PROTECTION AND ILLEGALITY 45 3.01 Taxes 45 3.02 Illegality 48 3.03 Inability to Determine Rates 49 3.04 Increased Costs 49 3.05 Compensation for Losses 51 3.06 Mitigation Obligations 51 3.07 Survival 51 ARTICLE IV.

Related to Inability to Determine Rates

  • Reference Rate Determination Date means, in relation to any Reference Rate Business Day(i):

  • LIBOR Determination Date With respect to any Interest Accrual Period for the LIBOR Certificates, the second London Business Day preceding the commencement of such Interest Accrual Period.

  • LIBOR Market Index Rate means, for any day, LIBOR as of that day that would be applicable for a LIBOR Loan having a one-month Interest Period determined at approximately 10:00 a.m. Central time for such day (rather than 11:00 a.m. (London time) two Business Days prior to the first day of such Interest Period as otherwise provided in the definition of “LIBOR”), or if such day is not a Business Day, the immediately preceding Business Day. The LIBOR Market Index Rate shall be determined on a daily basis.

  • Pricing Rate Determination Date means with respect to any Pricing Rate Period with respect to any Transaction, the second (2nd) Business Day preceding the first day of such Pricing Rate Period.

  • Index Determination Date means, in relation to any Index, a date on which such Indexfalls to be determined in accordance with the Conditions;

  • Market Disruption Rate means the rate (if any) specified as such in the Reference Rate Terms.

  • Index Disruption means in respect of an Index on any Valuation Date, the Index Sponsor fails to calculate and announce such Index.

  • Screen Rate Determination is specified in the applicable Final Terms as the manner in which the Rate of Interest is to be determined and the Reference Rate specified in the applicable Final Terms is not XXXXX or SOFR, the Rate of Interest for each Interest Period will, subject as provided below, be either:

  • Base Rate Term SOFR Determination Day has the meaning specified in the definition of “Term SOFR”.

  • Rate Determination Date means two (2) Business Days prior to the commencement of such Interest Period (or such other day as is generally treated as the rate fixing day by market practice in such interbank market, as determined by the Administrative Agent; provided that to the extent such market practice is not administratively feasible for the Administrative Agent, then “Rate Determination Date” means such other day as otherwise reasonably determined by the Administrative Agent).

  • Rate Determination Notice has the meaning specified in Section 3.07(g).

  • Interest Rate Determination Date means, with respect to any Interest Period, the date that is two Business Days prior to the first day of such Interest Period.

  • Fallback Rate means, where a Permanent Discontinuation Trigger for an Applicable Benchmark Rate has occurred, the rate that applies to replace that Applicable Benchmark Rate in accordance with Condition 5.3(b)(i)(B);

  • Market Disruption means any of the following events or situations if, in the determination of the Calculation Agent, any of these is material to the valuation of a Reference Item or any Hedging Arrangements of the Issuer in relation to the Securities provided that any Market Disruption in respect of a Relevant Reference Item shall be deemed to be a Market Disruption in respect of the related Reference Item:

  • Base LIBOR Rate means the rate per annum, determined by Agent in accordance with its customary procedures, and utilizing such electronic or other quotation sources as it considers appropriate (rounded upwards, if necessary, to the next 1/16%), on the basis of the rates at which Dollar deposits are offered to major banks in the London interbank market on or about 11:00 a.m. (California time) 2 Business Days prior to the commencement of the applicable Interest Period, for a term and in amounts comparable to the Interest Period and amount of the LIBOR Rate Loan requested by Administrative Borrower in accordance with this Agreement, which determination shall be conclusive in the absence of manifest error.

  • Reset Determination Date means, in respect of the First Reset Period, the second Business Day prior to the First Reset Date and, in respect of each Subsequent Reset Period thereafter, the second Business Day prior to the first day of each such Subsequent Reset Period;

  • Applicable Measurement Period means the most recently completed four consecutive fiscal quarters of the Issuer immediately preceding the Applicable Calculation Date for which internal financial statements are available.

  • Eurodollar Base Rate has the meaning specified in the definition of Eurodollar Rate.

  • Periodic Term SOFR Determination Day has the meaning specified in the definition of “Term SOFR”.

  • LIBOR Successor Rate Conforming Changes means, with respect to any proposed LIBOR Successor Rate, any conforming changes to the definition of Base Rate, Interest Period, timing and frequency of determining rates and making payments of interest and other administrative matters as may be appropriate, in the discretion of the Administrative Agent, to reflect the adoption of such LIBOR Successor Rate and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent determines that adoption of any portion of such market practice is not administratively feasible or that no market practice for the administration of such LIBOR Successor Rate exists, in such other manner of administration as the Administrative Agent determines in consultation with the Borrower).

  • Benchmark Determination Date means (a) if the Benchmark is LIBOR, the LIBOR Determination Date, (b) if the Benchmark is Term SOFR, the date that is two Business Days before the first day of the applicable Accrual Period, (c) if the Benchmark is Compounded SOFR, the date that is five Business Days before the last day of the applicable Accrual Period and (d) if the Benchmark is any other rate, the date determined by the Trust according to Section 2.16 of the Indenture.

  • Adjusted Eurodollar Rate means for any Interest Period with respect to any Eurodollar Loan, an interest rate per annum (rounded upwards, if necessary, to the next 1/100 of 1.00%) equal to (a) the Eurodollar Rate for such Interest Period multiplied by (b) the Statutory Reserves.

  • Term SOFR Determination Day has the meaning assigned to it under the definition of Term SOFR Reference Rate.

  • Currency Determination Agent means the agent, if any, from time to time selected by the Trustee for purposes of Section 3.10; provided that such agent shall accept such appointment in writing and the terms of such appointment shall be acceptable to the Company and shall, in the opinion of the Company and the Trustee at the time of such appointment, require such agent to make the determinations required by this Indenture by a method consistent with the method provided in this Indenture for the making of such decision or determination.

  • SOFR Determination Date has the meaning specified in the definition of “Daily Simple SOFR”.

  • Final Disruption Date has the meaning provided in Annex A to this Confirmation. Notwithstanding the foregoing and anything to the contrary in the Equity Definitions, if a Market Disruption Event occurs on any Expiration Date, the Calculation Agent, acting commercially reasonably, may determine that such Expiration Date is a Disrupted Day only in part, in which case (i) the Calculation Agent shall make commercially reasonable adjustments to the Number of Warrants for the relevant Component for which such day shall be the Expiration Date and shall designate the Scheduled Trading Day determined in the manner described in the second preceding sentence as the Expiration Date for the remaining Warrants for such Component, and (ii) the VWAP Price for such Disrupted Day shall be determined by the Calculation Agent based on transactions in the Shares on such Disrupted Day taking into account the nature and duration of such Market Disruption Event on such day. Any Scheduled Trading Day on which, as of the date hereof, the Exchange is scheduled to close prior to its normal close of trading shall be deemed not to be a Scheduled Trading Day; if a closure of the Exchange prior to its normal close of trading on any Scheduled Trading Day is scheduled following the date hereof, but prior to the open of the regular trading session of the Exchange on such day, then such Scheduled Trading Day shall be deemed to be a Disrupted Day in full.