Alternative basis of interest or funding. If a Market Disruption Event occurs and the Agent or the Borrower so requires, the Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. Any alternative basis agreed pursuant to this Clause 13.2 shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 7 contracts
Samples: Whereas Eksportfinans, Senior Secured Credit Facility Agreement, Senior Secured Credit Facility Agreement
Alternative basis of interest or funding. If a Market Disruption Event occurs and the Agent or the Borrower so requires, the Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interestinterest instead of LIBOR. Any alternative basis agreed pursuant to this Clause 13.2 11.2 shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 3 contracts
Samples: Senior Secured Credit Facility Agreement (Seadrill Partners LLC), Credit Facility Agreement (North Atlantic Drilling Ltd.), Secured Credit Facility Agreement (Ocean Rig UDW Inc.)
Alternative basis of interest or funding. 3.7.1 If a Market Disruption Event occurs and the Agent or the Borrower so requiresrequire, the Agent and the Borrower Borrowers shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. Any alternative basis agreed pursuant to this Clause 13.2 shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 2 contracts
Samples: EuroDry Ltd., Euroseas Ltd.
Alternative basis of interest or funding. (a) If a Market Disruption Event occurs and the Facility Agent or the Borrower Borrowers so requiresrequire, the Facility Agent and the Borrower Borrowers shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. (b) Any alternative basis agreed pursuant to this Clause 13.2 paragraph (a) above shall, with the prior consent of all the Lenders and the BorrowerBorrowers, be binding on all Parties.
Appears in 2 contracts
Samples: Agreement (Flex LNG Ltd.), Agreement (Flex LNG Ltd.)
Alternative basis of interest or funding. If a Market Disruption Event occurs and the Agent or the Borrower Shareholder so requires, the Agent and the Borrower Shareholder shall enter into negotiations (for a period of not more than thirty (30) ten days) with a view to agreeing a substitute basis for determining the rate of interest. Any alternative basis agreed pursuant to this Clause 13.2 shall, with be subject to the prior consent of all the Lenders and the Borrower, be binding on all PartiesShareholder.
Appears in 2 contracts
Samples: Facility Agreement (Pangaea Logistics Solutions Ltd.), Facility Agreement (Quartet Holdco Ltd.)
Alternative basis of interest or funding. 7.10.1 If a Market Disruption Event occurs and the Agent or the Borrower so requires, the Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. Any alternative basis agreed pursuant to this Clause 13.2 shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 2 contracts
Samples: www.lw.com, Teekay Offshore Partners L.P.
Alternative basis of interest or funding. If a Market Disruption Event occurs and the Agent or the Borrower so requires, the Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interestinterest for the relevant Loan. Any alternative basis agreed pursuant to this Clause 13.2 12.2 shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 1 contract
Alternative basis of interest or funding. If a Market Disruption Event occurs and the Agent or the Borrower Borrowers so requiresrequire, the Agent and the Borrower Borrowers shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. Any alternative basis agreed pursuant to this Clause 13.2 10.2 shall, with the prior consent of all the Lenders and the BorrowerBorrowers, be binding on all Parties.
Appears in 1 contract
Alternative basis of interest or funding. If a Market Disruption Event occurs and the Agent or the Borrower so requiresrequire, the Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. Any alternative basis agreed pursuant to this Clause 13.2 10.2 shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 1 contract
Alternative basis of interest or funding. If a Market Disruption Event occurs and the Facility Agent or the Borrower so requires, the Facility Agent and the Borrower shall enter into negotiations (for a period of not more than thirty 30 (30thirty) days) with a view to agreeing a substitute basis for determining the rate of interest. Any alternative basis agreed pursuant , failing which the provisions of clause 7.5 (Market Disruption) shall continue to this Clause 13.2 shall, with the prior consent of all the Lenders and the Borrower, be binding on all Partiesapply.
Appears in 1 contract
Samples: Harmony Gold Mining Co LTD
Alternative basis of interest or funding. If a Market Disruption Event occurs and the Facility Agent or the Borrower so requires, the Facility Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) 30 days) with a view to agreeing a substitute basis for determining the rate of interest. Any alternative basis agreed pursuant , failing which the provisions of clause 7.5 (Market Disruption) shall continue to this Clause 13.2 shall, with the prior consent of all the Lenders and the Borrower, be binding on all Partiesapply.
Appears in 1 contract
Samples: Harmony Gold Mining Co LTD
Alternative basis of interest or funding. If a Market Disruption Event occurs and the Agent or the Borrower so requires, the Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. Any alternative basis agreed pursuant to this Clause 13.2 10.2 shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 1 contract
Samples: Assignment Agreement (Helix Energy Solutions Group Inc)
Alternative basis of interest or funding. If a Market Disruption Event occurs and the Agent or the Borrower so requires, the Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. Any alternative basis agreed pursuant to this Clause 13.2 11.2 shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties.
Appears in 1 contract
Alternative basis of interest or funding. If a Market Disruption Event occurs and the Agent or the Borrower Borrowers so requiresrequire, the Agent and the Borrower Borrowers shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. Any alternative basis agreed pursuant to this Clause 13.2 10.2 shall, with the prior consent of all the Lenders and the BorrowerBorrowers, be binding on all Parties.. 10.3
Appears in 1 contract
Alternative basis of interest or funding. If a Market Disruption Event occurs and the Agent or the Borrower so requires, the Agent and the Borrower shall enter into negotiations (for a period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. Any alternative basis agreed pursuant to this Clause 13.2 10.2 shall, with the prior consent of all the Lenders and the Borrower, be binding on all Parties. If no such alternative basis is agreed within said thirty (30) days, the rate of interest shall be determined in accordance with Clause 10.1 (Market disruption).
Appears in 1 contract
Samples: General Geophysics Co