Common use of Circumstances Making Bankers’ Acceptances Unavailable Clause in Contracts

Circumstances Making Bankers’ Acceptances Unavailable. (a) If prior to the commencement of any Contract Period, (A) the Canadian Administrative Agent determines in good faith, which determination shall be conclusive and binding on the Canadian Borrower, and notifies the Canadian Borrower that, by reason of circumstances affecting the money market, there is no readily available market for Bankers’ Acceptances, or (B) the Canadian Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining the Discount Rate or CDOR Rate, as applicable, for such Contract Period; or (C) the Canadian Administrative Agent is advised by the Required Facility B Lenders that the Discount Rate or CDOR Rate, as applicable, for such Contract Period will not adequately and fairly reflect the cost to such Lenders of making or maintaining their portion of such BA Drawings included in such Borrowing for such Contract Period then:

Appears in 3 contracts

Samples: Credit Agreement (Kate Spade & Co), Credit Agreement (Fifth & Pacific Companies, Inc.), Credit Agreement (Claiborne Liz Inc)

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Circumstances Making Bankers’ Acceptances Unavailable. (a) If prior to the commencement of any Contract Period, (Ai) the Canadian Administrative Agent determines in good faith, which determination shall be conclusive and binding on the Canadian Borrower, and notifies the Canadian Borrower that, by reason of circumstances affecting the money market, there is no readily available market for Bankers’ Acceptances, or (Bii) the Canadian Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining the Discount Rate or CDOR Rate, as applicable, for such Contract Period; or (Ciii) the Canadian Administrative Agent is advised by the Required Facility B one or more Canadian Lenders that the Discount Rate or CDOR Rate, as applicable, for such Contract Period will not adequately and fairly reflect the cost to such Lenders (or Lender) of making or maintaining their portion of such BA Drawings included in such Borrowing for such Contract Period then:

Appears in 1 contract

Samples: Credit Agreement (Jones Apparel Group Inc)

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Circumstances Making Bankers’ Acceptances Unavailable. (a) If prior to the commencement of any Contract Period, (Ai) the Canadian Administrative Agent determines in good faith, which determination shall be conclusive and binding on the Canadian BorrowerBorrowers, and notifies the Canadian Borrower Borrowers that, by reason of circumstances affecting the money market, there is no readily available market for Bankers’ Acceptances, or (Bii) the Canadian Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining the Discount Rate or CDOR Rate, as applicable, for such Contract Period; or (Ciii) the Canadian Administrative Agent is advised by the Required Facility B one or more Canadian Revolving Lenders that the Discount Rate or CDOR Rate, as applicable, for such Contract Period will not adequately and fairly reflect the cost to such Lenders (or Lender) of making or maintaining their portion of such BA Drawings included in such Borrowing for such Contract Period then:

Appears in 1 contract

Samples: Joinder Agreement (TMS International Corp.)

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