Common use of Market Disruption Clause in Contracts

Market Disruption. (a) If a Market Disruption Event affects the interbank market in the Eurozone and it is impossible: (i) for the fixed Interest Rate, to determine the fixed Interest Rate applicable to a Drawdown, or (ii) for the variable Interest Rate, to determine the applicable EURIBOR for the relevant Interest Period, the Lender shall inform the Borrower. (b) Upon the occurrence of the event described in paragraph (a) above, the applicable Interest Rate, as the case may be, for the relevant Drawdown or for the relevant Interest Period will be the sum of: (i) the Margin; and (ii) the percentage rate per annum corresponding to the cost to the Lender of funding the relevant Drawdowns(s) from whatever source it may reasonably select. Such rate shall be notified to the Borrower as soon as possible and, in any case, prior to (1) the first Payment Date for interest owed under such Drawdown for the fixed Interest Rate or (2) the Payment Date for interest owed under such Interest Period for the variable Interest Rate.

Market Disruption. (a) If a Market Disruption Event affects the interbank market in the Eurozone and it is impossible: (i) for the fixed Interest Rate, to determine the fixed Interest Rate applicable to a Drawdown, or (ii) for the variable Interest Rate, to determine the applicable EURIBOR for the relevant Interest Period, the Lender shall inform the Borrower. (b) Upon the occurrence of the event described in paragraph (a) above, the applicable Interest Rate, as the case may be, for the relevant Drawdown or for the relevant Interest Period will be the sum of: (i) the Margin; and (ii) the percentage rate per annum corresponding to the cost to the Lender of funding the relevant Drawdowns(s) from whatever source it may reasonably select. Such rate shall be notified to the Borrower as soon as possible and, in any case, prior to (1) the first Payment Date for interest owed under such Drawdown for the fixed Interest Rate or (2) the Payment Date for interest owed under such Interest Period for the variable Interest Rate.

Market Disruption. (a) If a Market Disruption Event affects the interbank market in the Eurozone and it is impossible: (i) for the fixed Interest Rate, to determine the fixed Interest Rate applicable to a Drawdown, or (ii) for the variable Interest Rate, to determine the applicable EURIBOR for the relevant Interest Period, the Lender shall inform the Borrower. (b) Upon the occurrence of the event described in paragraph (a) above, the applicable Interest Rate, as the case may be, for the relevant Drawdown or for the relevant Interest Period will be the sum of: (i) the Margin; and (ii) the percentage rate per annum corresponding to the cost to the Lender of funding the relevant Drawdowns(s) Drawdown from whatever source it may reasonably select. Such rate shall be notified to the Borrower as soon as possible and, in any case, prior to (1) the first Payment Date for interest owed under such the Drawdown for the fixed Interest Rate or (2) the Payment Date for interest owed under such Interest Period for the variable Interest Rate.