Basis for Determining Interest Rate Inadequate. In the event that Agent or any Lender shall have determined that:
Basis for Determining Interest Rate Inadequate. In the event that Agent, Canadian Agent or U.K. Agent or any Lender shall have determined that:
Basis for Determining Interest Rate Inadequate. If on or prior to the first day of any Interest Period for any Eurocurrency Borrowing, the Administrative Agent is advised by the Required Banks that deposits in Dollars (in the applicable amounts) are not being offered to the Required Banks in the relevant market for such Interest Period, the Administrative Agent shall forthwith give notice thereof to the Borrower and the Banks, whereupon until the Administrative Agent notifies the Borrower that the circumstances giving rise to such suspension no longer exist, the obligations of the Banks to make Eurocurrency Loans shall be suspended. Unless the Borrower notifies the Administrative Agent at least two Domestic Business Days before the date of any Eurocurrency Borrowing for which a Notice of Borrowing has previously been given that it elects not to borrow such Borrowing on such date, such Borrowing shall instead be made as a Base Rate Borrowing.
Basis for Determining Interest Rate Inadequate. In the event that Administrative Agent or any Lender shall have determined that (i) reasonable means do not exist for ascertaining LIBOR for any Interest Period; or (ii) dollar deposits in the relevant amount and for the relevant maturity are not available in the London interbank market with respect to a proposed LIBOR Loan, or a proposed conversion of a Base Rate Loan into a LIBOR Loan; then Administrative Agent or such Lender shall give Borrowers prompt written, telephonic or electronic notice of the determination of such effect. If such notice is given, (x) any such requested LIBOR Loan shall be made as a Base Rate Loan, unless Borrower Representative, on its own behalf and on behalf of all other Borrowers, shall notify Administrative Agent no later than 10:00 a.m. (New York time) three (3) Business Days’ prior to the date of such proposed borrowing that the request for such borrowing shall be canceled or made as an unaffected type of LIBOR Loan, and (y) any Base Rate Loan which was to have been converted to an affected type of LIBOR Loan shall be continued as or converted into a Base Rate Loan, or, if Borrowers shall notify Administrative Agent, no later than 10:00 a.m. (New York time) three (3) Business Days prior to the proposed conversion, shall be maintained as an unaffected type of LIBOR Loan.
Basis for Determining Interest Rate Inadequate. If on or before the Business Day preceding the first day of a Loan Period for a requested Eurodollar Loan (a) the Administrative Agent determines (which determination shall be binding and conclusive on all parties) that by reason of circumstances affecting the interbank eurodollar market adequate and reasonable means do not exist for ascertaining the Eurodollar Rate applicable to such Loan Period, or (b) Banks having 50% or more of the aggregate amount of the Commitments advise the Administrative Agent that the Eurodollar Rate will not adequately and fairly reflect the cost to such Banks of funding their Eurodollar Loans for such Loan Period, the Administrative Agent shall forthwith give notice thereof to the Company and the Banks, whereupon until the Administrative Agent notifies the Company that the circumstances giving rise to such suspension no longer exist, the obligations of the Banks to make Eurodollar Loans shall be suspended. Unless the Company notifies the Administrative Agent on or before the Business Day preceding the first day of the Loan Period for the requested Eurodollar Loan that it elects not to borrow on the date specified in the Company’s notice of the proposed borrowing, the proposed borrowing shall instead be made as a Floating Rate Loan borrowing.
Basis for Determining Interest Rate Inadequate. In the event that Administrative Agent or any Revolving Credit Lender shall have determined that: (i) reasonable means do not exist for ascertaining the LIBOR for any Interest Period; or (ii) Dollar deposits in the relevant amount and for the relevant maturity are not available in the London interbank market with respect to a proposed LIBOR Loan, or a proposed conversion of a Base Rate Loan into a LIBOR Loan; then Administrative Agent or such Revolving Credit Lender shall give Borrower Representative prompt written, telephonic or electronic notice of the determination of such effect. If such notice is given, (i) any such requested LIBOR Loan shall be made as a Base Rate Loan, unless Borrower Representative shall notify Administrative Agent no later than 10:00 a.m. (Chicago, Illinois time) three (3) Business Days prior to the date of such proposed borrowing that the request for such borrowing shall be canceled or made as an unaffected type of LIBOR Loan, and (ii) any Base Rate Loan which was to have been converted to an affected type of LIBOR Loan shall be continued as or converted into a Base Rate Loan, or, if Borrower Representative shall notify Administrative Agent, no later than 10:00 a.m. (Chicago, Illinois time) three (3) Business Days prior to the proposed conversion, shall be maintained as an unaffected type of LIBOR Loan.
Basis for Determining Interest Rate Inadequate. If on or prior to the first day of any Interest Period for any Fixed Rate Borrowing, the Administrative Agent is advised by all of the Reference Banks that deposits in dollars (in the applicable amounts) are not being offered to the Reference Banks in the relevant market for such Interest Period, the Administrative Agent shall forthwith give notice thereof to the Borrower and the Banks, whereupon until the Administrative Agent notifies the Borrower that the circumstances giving rise to such suspension no longer exist, the obligations of the Banks to make CD Loans or Euro-Dollar Loans, as the case may be, shall be suspended. Unless the Borrower notifies the Administrative Agent at least two Domestic Business Days before the date of any Fixed Rate Borrowing for which a Notice of Borrowing has previously been given that it elects not to borrow such Borrowing on such date, such Borrowing shall instead be made as a Base Rate Borrowing.
Basis for Determining Interest Rate Inadequate or Unfair. If on or prior to the first day of any Interest Period for any --------- Euro-Dollar Borrowing or Money Market Borrowing:
Basis for Determining Interest Rate Inadequate. If, with respect to any Interest Period, (i) the Bank determines that deposits in Dollars are not being offered to banks in the relevant market for such Interest Period, or (ii) the Bank shall determine that interest determined by the Bank by reference to LIBOR will not adequately and fairly cover the cost to the Bank of maintaining and funding its LIBOR Loans, the Bank shall give notice thereof to the Company, whereupon the obligations of the Bank to make LIBOR Loans shall be suspended until such time as the Bank notifies the Company that the circumstances giving rise to such suspension no longer exist and the Bank shall extend Base Rate Loans in lieu thereof until such suspension has ended.
Basis for Determining Interest Rate Inadequate. Section 3.9 of the Loan Agreement is hereby amended by deleting each reference to the term "Revolving Credit Lender" therein and substituting in lieu thereof the term "Lender".
