Common use of Alternative basis of interest or funding Clause in Contracts

Alternative basis of interest or funding. If a market disruption event occurs and the Facility Agent or the Company so requires, the Company and the Facility Agent must enter into negotiations for a period of not more than 30 days with a view to agreeing an alternative basis for determining the rate of interest and/or funding for the affected Loan. Any alternative basis shall, with the prior consent of all of the Lenders and the Company, be binding on all Parties.

Alternative basis of interest or funding. 13.3.1 If a market disruption event occurs and the Facility Agent or the Company so requires, the Company and the Facility Agent must enter into negotiations for a period of not more than 30 days with a view to agreeing an alternative basis for determining the rate of interest and/or funding for the affected Loan and any future Loan. Any alternative basis shall, with the prior consent of all of the Lenders and the Company, be binding on all Parties.