Market Disruption Event means any of the following circumstances:
Market Disruption Event means any of the following circumstances: there are, in the reasonable opinion of the Bank, events or circumstances adversely affecting the Bank’s access to its sources of funding; in the opinion of the Bank, funds are not available from its ordinary sources of funding in order to adequately fund a Tranche in the relevant currency and/or for the relevant maturity and/or in relation to the reimbursement profile of such Tranche; or in relation to a Tranche in respect of which interest is or would be payable at Floating Rate: the cost to the Bank of obtaining funds from its sources of funding, as determined by the Bank, for a period equal to the Floating Rate Reference Period of such Tranche (i.e. in the money market) would be in excess of the applicable Relevant Interbank Rate; or the Bank determines that adequate and fair means do not exist for ascertaining the applicable Relevant Interbank Rate for the relevant currency of such Tranche or it is not possible to determine the Relevant Interbank Rate in accordance with the definition contained in Schedule B. "Material Adverse Change" means, in relation to the Borrower any event or change of condition affecting the Borrower, which, in the opinion of the Bank: materially impairs the ability of the Borrower to perform its obligations under this Contract; or materially impairs the financial condition or prospects of the Borrower. "Maturity Date" means the last repayment date of a Tranche specified pursuant to Article 4.1.A(fff)(iv). "Notified Tranche" means a Tranche in respect of which the Bank has issued a Disbursement Notice.
Market Disruption Event means any of the following circumstances: there are, in the reasonable opinion of the Bank, events or circumstances adversely affecting the Bank’s access to its sources of funding; in the opinion of the Bank, funds are not available from the Bank's ordinary sources of funding in order to adequately fund a Tranche in the relevant currency and/or for the relevant maturity and/or in relation to the reimbursement profile of such Tranche; or in relation to a Tranche in respect of which interest would be payable at Floating Rate: the cost to the Bank of obtaining funds from its sources of funding, as determined by the Bank, for a period equal to the Floating Rate Reference Period of such Tranche (i.e. in the money market) would be in excess of EURIBOR ; or the Bank determines that adequate and fair means do not exist for ascertaining EURIBOR for the relevant currency of such Tranche or it is not possible to determine EURIBOR in accordance with the definition contained in 0. "Material Adverse Change" means, any event or change of condition, which, in the opinion of the Bank, has a material adverse effect on:
Examples of Market Disruption Event in a sentence
If at any time (i) from the issuance by the Bank of the Disbursement Notice in respect of a Tranche and (ii) until the date falling either 30 (thirty) calendar days for Tranches to be disbursed in EUR, GBP or USD or in the case of Tranches to be disbursed in any other currency, 2 (two) Business Days prior to the Scheduled Disbursement Date, a Market Disruption Event occurs, the Bank may notify to the Borrower that this clause has come into effect.
Under such a Market Disruption Event, the applicable Floating Interest Rate shall be replaced by the rate that expresses as a percentage rate per annum the cost to the CEB of funding the Loan from whatever source the CEB may reasonably select.
The CEB shall promptly, upon becoming aware of it, notify to the Borrower that a Market Disruption Event has occurred.
Under such a Market Disruption Event, the applicable EURIBOR shall be the percentage rate per annum determined by the CEB to be the arithmetic mean of the rates at which loans in Euro, in an amount identical or nearest comparable to the Loan amount in question and for a period identical or nearest comparable to the relative Interest Period, are offered on the Interest Determination Date by three (3) leading banks in the EU interbank market selected by the CEB.
If the CEB determines that the relevant Market Disruption Event no longer exists, then, subject to any further Market Disruption Event occurring or existing, the Floating Interest Rate and/or Interest Period applicable to any relevant Tranche shall revert, from the first day of the following Interest Period to being calculated in accordance with the Floating Interest Rate and Interest Period specified in the relevant Disbursement Notice.
If at any time (i) from the receipt by the Bank of a Disbursement Acceptance in respect of a Tranche, and (ii) until the date falling thirty (30) calendar days prior to the Scheduled Disbursement Date, a Market Disruption Event occurs, the Bank may notify to the Borrower that this clause has come into effect.
Under such a Market Disruption Event, the CEB shall be entitled to cancel at no cost the scheduled disbursement.
More Definitions of Market Disruption Event
Market Disruption Event means any of the following circumstances: 6 there are, in the reasonable opinion of the Bank, events or circumstances adversely affecting the Bank’s access to its sources of funding; 7 in the opinion of the Bank, funds are not available from the Bank's ordinary sources of funding in order to adequately fund a Tranche in the relevant currency and/or for the relevant maturity and/or in relation to the reimbursement profile of such Tranche; or 8 in relation to a Tranche in respect of which interest would be payable at Floating Rate: 8.1 the cost to the Bank of obtaining funds from its sources of funding, as determined by the Bank, for a period equal to the Floating Rate Reference Period of such Tranche (i.e. in the money market) would be in excess of EURIBOR; or
Market Disruption Event means any of the following circumstances: there are, in the reasonable opinion of the Bank, events or circumstances adversely affecting the Bank’s access to its sources of funding; in the opinion of the Bank, funds are not available from its ordinary sources of funding in order to adequately fund a Tranche in the relevant currency and/or for the relevant maturity and/or in relation to the reimbursement profile of such Tranche; or in relation to a Tranche in respect of which interest is or would be payable at Floating Rate: the cost to the Bank of obtaining funds from its sources of funding, as determined by the Bank, for a period equal to the Floating Rate Reference Period of such Tranche (i.e. in the money market) would be in excess of the applicable Relevant Interbank Rate; or the Bank determines that adequate and fair means do not exist for ascertaining the applicable Relevant Interbank Rate for the relevant currency of such Tranche or it is not possible to determine the Relevant Interbank Rate in accordance with the definition contained in Schedule B. "Material Adverse Change" means, any event or change of condition, which, in the opinion of the Bank has a material adverse effect on: the ability of the Borrower to perform its obligations under this Contract; the business, operations, property, condition (financial or otherwise) or prospects of the Borrower; or the legality, validity or enforceability of, or the effectiveness or ranking of, or the value of any security granted to the Bank, or the rights or remedies of the Bank under this Contract . "Maturity Date" means the last repayment date of a Tranche specified pursuant to Article 4.1.A(b)(iv). “Money Laundering” means: the conversion or transfer of property, knowing that such property is derived from criminal activity or from an act of participation in such activity, for the purpose of concealing or disguising the illicit origin of the property or of assisting any person who is involved in the commission of such activity to evade the legal consequences of his action; the concealment or disguise of the true nature, source, location, disposition, movement, rights with respect to, or ownership of property, knowing that such property is derived from criminal activity or from an act of participation in such activity; the acquisition, possession or use of property, knowing, at the time of receipt, that such property was derived from criminal activity or from an act of participation in such activity; or ...
Market Disruption Event means any of the following circumstances: there are, in the reasonable opinion of the Bank, events or circumstances adversely affecting the Bank’s access to its sources of funding; in the opinion of the Bank, funds are not available from the Bank's ordinary sources of funding in order to adequately fund a Tranche in the relevant currency and/or for the relevant maturity and/or in relation to the reimbursement profile of such Tranche; or in relation to a Floating Rate Tranche: the cost to the Bank of obtaining funds from its sources of funding, as determined by the Bank, for a period equal to the Floating Rate Reference Period of such Tranche (i.e. in the money market) would be in excess of EURIBOR; or the Bank determines that adequate and fair means do not exist for ascertaining EURIBOR for the relevant currency of such Tranche. "Material Adverse Change" means, in relation to the Borrower any event or change of condition affecting the Borrower, which, in the opinion of the Bank:
Market Disruption Event means any of the following circumstances: there are, in the reasonable opinion of the Bank, events or circumstances adversely affecting the Bank’s access to its sources of funding; in the opinion of the Bank, funds are not available from the Bank's ordinary sources of funding in order to adequately fund a Tranche in the relevant currency and/or for the relevant maturity and/or in relation to the reimbursement profile of such Tranche; or in relation to a Tranche in respect of which interest would be payable at Floating Rate: the cost to the Bank of obtaining funds from its sources of funding, as determined by the Bank, for a period equal to the Floating Rate Reference Period of such Tranche (i.e. in the money market) would be in excess of EURIBOR; or the Bank determines that adequate and fair means do not exist for ascertaining EURIBOR for the relevant currency of such Tranche or it is not possible to determine EURIBOR in accordance with the definition contained in Schedule B. "Material Adverse Change" means, any event or change of condition, which, in the opinion of the Bank, has a material adverse effect on: the ability of the Borrower to perform its obligations under this Contract; the business, operations, property, condition (financial or otherwise) or prospects of the Borrower; and the legality, validity or enforceability of, or the effectiveness or ranking of, or the value of any Security granted to the Bank, or the rights or remedies of the Bank under this Contract. "Maturity Date" means the last Repayment Date of a Tranche specified pursuant to Article 4.1.A(b)(iv) or sole Repayment Date of a Tranche specified pursuant to Article 4.1.B. "Money Laundering" means:
Market Disruption Event means any of the following circumstances: there are, in the reasonable opinion of the Bank, events or circumstances adversely affecting the Bank’s access to its sources of funding; in the opinion of the Bank, funds are not available from the Bank's ordinary sources of funding in order to adequately fund a Tranche in the relevant currency and/or for the relevant maturity and/or in relation to the reimbursement profile of such Tranche; or in relation to a Tranche in respect of which interest would be payable at Floating Rate: the cost to the Bank of obtaining funds from its sources of funding, as determined by the Bank, for a period equal to the Floating Rate Reference Period of such Tranche (i.e. in the money market) would be in excess of EURIBOR; or the Bank determines that adequate and fair means do not exist for ascertaining EURIBOR for the relevant currency of such Tranche. "Material Adverse Change" means, in relation to the Borrower any event or change of condition affecting the Borrower, which, in the opinion of the Bank: materially impairs the ability of the Borrower to perform its obligations under this Contract; the ability of the Promoter to perform its obligations under the Technical Side Letter; or