Alternative Rates. Administrative Agent may notify Borrower if the BBA LIBOR Daily Floating Rate is not available for any reason, or if Administrative Agent reasonably determines that no adequate basis exists for determining the BBA LIBOR Daily Floating Rate, or that the BBA LIBOR Daily Floating Rate will not adequately and fairly reflect the cost to Lender of funding the Loan, or that any applicable Law or regulation or compliance therewith by Lender prohibits or restricts or makes impossible the charging of interest based on the BBA LIBOR Daily Floating Rate. If Administrative Agent so notifies Xxxxxxxx, then interest shall accrue and be payable on the unpaid principal balance of this Note at a fluctuating rate of interest equal to the Prime Rate of Lender plus one hundred fifty (150) basis points per annum, from the date of such notification by Administrative Agent until Administrative Agent notifies Borrower that the circumstances giving rise to such suspension no longer exist, or until the Maturity Date of this Note (whether by acceleration, declaration, extension or otherwise), whichever is earlier to occur. The term “Prime Rate” means, on any day, the rate of interest per annum then most recently established by Lender as its “prime rate.” Any such rate is a general reference rate of interest, may not be related to any other rate, and may not be the lowest or best rate actually charged by Lender to any customer or a favored rate and may not correspond with future increases or decreases in interest rates charged by other lenders or market rates in general, and Lender may make various business or other loans at rates of interest having no relationship to such rate. Any change in the Prime Rate shall take effect at the opening of business on the day specified in the public announcement of a change in Lender’s Prime Rate. If Lender (including any subsequent holder of this Note) ceases to exist or to establish or publish a prime rate from which the Prime Rate is then determined, the applicable variable rate from which the Prime Rate is determined thereafter shall be instead the prime rate reported in The Wall Street Journal (or the average prime rate if a high and a low prime rate are therein reported), and the Prime Rate shall change without notice with each change in such prime rate as of the date such change is reported.
Alternative Rates. If the BBA LIBOR Daily Floating Rate or the Eurodollar Rate is not available for any reason, then such rate will be determined by such alternate method as reasonably selected by Agent. If Agent determines that no adequate basis exists for determining the BBA LIBOR Daily Floating Rate or the Eurodollar Rate or that the BBA LIBOR Daily Floating Rate or the Eurodollar Rate will not adequately and fairly reflect the cost to Agent of funding the Loan, or that any applicable Law or regulation or compliance therewith by Agent prohibits or restricts or makes impossible the charging of interest based on the BBA LIBOR Daily Floating Rate or the Eurodollar Rate and Agent so notifies Borrower, then until Agent notifies Borrower that the circumstances giving rise to such suspension no longer exist, interest shall accrue and be payable on the unpaid principal balance of the Loan from the date Agent so notifies Borrower until the Maturity Date (whether by acceleration, declaration, extension or otherwise) at a fluctuating rate of interest equal to the Federal Funds Rate plus two hundred fifty (250) basis points per annum.
Alternative Rates. 42 11. TAXES..............................................................43 12.
Alternative Rates. 10.1. Lack of communication of a rate by a Reference Bank If EURIBOR must be calculated with reference to the Reference Bank, but the Reference Bank fails to communicate a rate by 12:00 noon (Milan time) in a Rate-Fixing Day, the applicable EURIBOR will be calculated based on the indications below, based on the rates of the other Reference Banks.
Alternative Rates. The principal balance outstanding from time to time under the Revolving Line of Credit Loan, shall bear interest at the following rates, at BORROWER's selection, subject to the conditions and limitations provided for herein and in the Note evidencing such Loan: (i) Revolving Variable Rate (defined below), (ii) Revolving LIBOR Rate (defined below), or (iii) Revolving BAR Rate (defined below). BORROWER shall select, and thereafter may change the selection of, the applicable interest rate, from the alternatives provided herein, for the Revolving Line of Credit Loan by notifying the BANK of its selection (pursuant to procedures and forms required by the BANK): (i) prior to each Advance, (ii) prior to the end of each Interest Period applicable to a LIBOR or Fixed Interest Rate Advance or (iii) on any Business Day on which BORROWER desires to convert an outstanding Variable Rate Advance to a LIBOR or Fixed Interest Rate Advance. The selection of an interest rate for the Revolving Line of Credit Loan shall be limited to those rates specifically made available for such Loan pursuant to this Agreement. Interest shall be calculated and charged daily on the basis of actual days elapsed over a three hundred sixty (360) day banking year. As used herein, a "Business Day" is any Banking Day and, with respect to determining or selecting a Revolving LIBOR Rate, any London Banking Day. If any day on which a payment is due is not a Business Day, then the payment shall be due on the next day following which is a Business Day, unless, with respect to a LIBOR Advance, the effect would be to make the payment due in the next calendar month, in which event such payment shall be due on the next preceding day which is a Business Day. Further, if there is no corresponding day for a payment in the given calendar month (i.e., there is no "February 30th"), the payment shall be due on the last Business Day of the calendar month. The term "Banking Day" means in respect of any city, any date on which commercial banks are open for business in that city.
Alternative Rates. The Administrative Agent may notify the Borrower if the BBA LIBOR Daily Floating Rate is not available for any reason, or if the Administrative Agent determines that no adequate basis exists for determining the BBA LIBOR Daily Floating Rate or that the BBA LIBOR Daily Floating Rate will not adequately and fairly reflect the cost to the Lenders of funding the Loan, or that any applicable Law or regulation or compliance therewith by the Lenders prohibits or restricts or makes impossible the charging of interest based on the BBA LIBOR Daily Floating Rate. If Administrative Agent so notifies Borrower, then interest shall accrue and be payable on the unpaid principal hereunder at a rate equal to the greater of (i) five percent (5.0%) per annum, or (ii) a fluctuating rate of interest per annum equal to the Prime Rate of Administrative Agent plus the Applicable Margin, from the date of such notification by Administrative Agent until Administrative Agent notifies Borrower that the circumstances giving rise to such suspension no longer exist or until the Maturity Date (whether by acceleration, declaration, extension or otherwise), whichever is earlier to occur.
Alternative Rates. Without prejudice to the provisions of Article 9.3 (Replacement of the Euribor) below, upon the occurrence of one of the events provided for by Article 9.1 (Non-listing by a Reference Bank), at the request of the Lending Bank or the Borrower, the Lending Bank and the Borrower shall conduct negotiations for a period not exceeding 30 (thirty) consecutive calendar days to reach an agreement on the criteria for determining an alternative benchmark rate. Such alternative benchmark rate shall be binding on the Parties provided that the Lending Bank has given its consent thereto. It remains understood that, during the negotiations referred to in this Article 9.2 and until a binding agreement is reached between the Parties, the applicable Interest Rate shall be determined pursuant to Article 9.1 (Non-listing by a Reference Bank) of this Agreement.
Alternative Rates. If the situation indicated in Art. 10.1 were to arise (Absence of the Euribor quotation), at the request of the Financing Bank or the Recipient the Financing Bank and the Recipient may initiate negotiations for a period not exceeding 30 (thirty) consecutive calendar days aimed at reaching an agreement regarding criteria for the determination of a further alternative reference rate with respect to the relative Utilization. It is understood that, pending completion of the negotiation referred to in this article (Art. 10.2) and until the moment when a binding agreement has been reached between the Parties, the Interest Rate applicable to the relative Utilization will be determined pursuant to Art. 10.1 (Absence of the Eurobor quotation) of this Agreement.
Alternative Rates. Lender may notify Borrower if the BBA LIBOR Daily Floating Rate is not available for any reason, or if Lender reasonably determines that no adequate basis exists for determining the BBA LIBOR Daily Floating Rate, or that the BBA LIBOR Daily Floating Rate will not adequately and fairly reflect the cost to Lender of
