Common use of CHANGES IN CIRCUMSTANCE Clause in Contracts

CHANGES IN CIRCUMSTANCE. 17.1 In the event that any of the Banks by reason of circumstances affecting the market are unable at the relevant time to obtain deposits in USD in the London Interbank Eurocurrency Market to fund the Commitment or the Loan (as the case may be), the Agent shall forthwith notify the Borrower thereof and until such notice is withdrawn the obligation of the Banks to advance the Commitment or the Loan (as the case may be) shall be suspended. The Banks shall then endeavour to fund the relevant part of the Commitment or the Loan (as the case may be) with USD from such alternative sources as may be available to them and in such case the rate of interest payable on such amount by the Borrower shall be the aggregate of the Margin and the rate as the Banks shall from time to time certify as being the cost to them of the relevant funds. 17.2 If any of the Banks are unable to fund the relevant USD amount from alternative sources, or the Borrower does not accept the terms of such alternative funding (which the Borrower shall be at liberty to do), the Borrower shall repay to the Agent (for the account of the Banks) the Loan or the affected part thereof together with accrued interest thereon on the earlier of the date falling five (5) Banking Days after receipt of written notice thereof and the next Interest Payment Date. 17.3 If, at any time when any of the Banks are funding from alternative sources, they find that USD deposits again are available to them in the London Eurocurrency Market they shall forthwith notify the Borrower via the Agent and resume the ordinary terms of this Loan Agreement as soon as the alternative source funding may be converted into ordinary funding hereunder. 17.4 In the event that it shall become unlawful for any of the Banks or the Agent to make the Commitment available or maintain or fund the Loan (as the case may be) or any part thereof, then the Banks’ obligations shall terminate and all amounts owing by the Borrower to all the Banks hereunder shall become due and payable on demand. 17.5 In the event that any law, regulation or official directive (having the force of law) or change in the same shall subject any of the Banks to any Taxes or impose any reserve, deposit or other requirement (including capital adequacy) which results in an increase in the cost to any of the Banks of making available the Commitment or maintaining or funding the Loan (as the case may be) or results in a reduction in the amount of Principal or interest receivable by any of the Banks by an amount which is deemed by such Banks to be material, then such Banks shall promptly upon becoming aware of the same notify the Borrower in writing via the Agent of the amount required to compensate such Banks for such additional cost or reduced receipt. Such amount which is relevant in the circumstances shall be payable by the Borrower on the earlier of the date falling ten (10) Banking Days after receipt of such written notice and the next following Interest Payment Date. If the Borrower chooses to prepay the Loan, the Borrower shall nevertheless compensate the Banks for such reasonable additional cost or reduced receipt up to and including the date of prepayment.

CHANGES IN CIRCUMSTANCE. 17.1 In the event that any of the Banks by reason of circumstances affecting the market are unable at the relevant time to obtain deposits in USD in the London Interbank Eurocurrency Market to fund the Commitment or the Loan (as the case may be), the Agent shall forthwith notify the Borrower thereof and until such notice is withdrawn the obligation of the Banks to advance the Commitment or the Loan (as the case may be) shall be suspended. The Banks shall then endeavour to fund the relevant part of the Commitment or the Loan (as the case may be) with USD from such alternative sources as may be available to them and in such case the rate of interest payable on such amount by the Borrower shall be the aggregate of the Margin and the rate as the Banks shall from time to time certify as being the cost to them of the relevant funds. 17.2 If any of the Banks are unable to fund the relevant USD amount from alternative sources, or the Borrower does not accept the terms of such alternative funding (which the Borrower shall be at liberty to do), the Borrower shall repay to the Agent (for the account of the Banks) the Loan or the affected part thereof together with accrued interest thereon on the earlier of the date falling five (5) Banking Days after receipt of written notice thereof and the next Interest Payment Date. 17.3 If, at any time when any of the Banks are funding from alternative sources, they find that USD deposits again are available to them diem in the London Eurocurrency Market they shall forthwith notify the Borrower via the Agent and resume the ordinary terms of this Loan Agreement as soon as the alternative source funding may be converted into ordinary funding hereunder. 17.4 In the event that it shall become unlawful for any of the Banks or the Agent to make the Commitment available or maintain or fund the Loan (as the case may be) or any part thereof, then the Banks’ ' obligations shall terminate and all amounts owing by the Borrower to all the Banks hereunder shall become due and payable on demand. 17.5 In the event that any law, regulation or official directive (having the force of law) or change in the same shall subject any of the Banks to any Taxes or impose any reserve, deposit or other requirement (including capital adequacy) which results in an increase in the cost to any of the Banks of making available the Commitment or maintaining or funding the Loan (as the case may be) or results in a reduction in the amount of Principal or interest receivable by any of the Banks by an amount which is deemed by such Banks to be material, then such Banks shall promptly upon becoming aware of the same notify the Borrower in writing via the Agent of the amount required to compensate such Banks for such additional cost or reduced receipt. Such amount which is relevant in the circumstances shall be payable by the Borrower on the earlier of the date falling ten (10) Banking Days after receipt of such written notice and the next following Interest Payment Date. If the Borrower chooses to prepay the Loan, the Borrower shall nevertheless compensate the Banks for such reasonable additional cost or reduced receipt up to and including the date of prepayment.