IN CIRCUMSTANCES Clause Samples
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IN CIRCUMSTANCES. 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, Banks having more than 50% of the aggregate amount of the Euro-Dollar Loans requested by the Borrowers advise the Agent that the LIBOR Rate as determined by the Agent will not adequately and fairly reflect the cost to such Banks of funding their Euro-Dollar Loans for such Interest Period, the Agent shall forthwith give notice thereof to the Borrowers and the Banks, whereupon until the Agent notifies the applicable Borrower or Borrowers that the circumstances giving rise to such suspension no longer exist, (i) the obligations of the Banks to make such Euro-Dollar Loans or to continue or convert outstanding Loans as or into such Euro-Dollar Loans shall be suspended and (ii) each outstanding Euro-Dollar Loan shall be converted into a USBR Loan on the last day of the then current Interest Period applicable thereto. Unless the Applicable Borrower or Borrowers notifies the Agent at least three Business Days before the date of any Euro-Dollar Borrowing for which a Notice of Borrowing has previously been given that it elects not to borrow on such date such Borrowing shall instead be made as a USBR Borrowing.
IN CIRCUMSTANCES. 24.1 If, as a result of any change in applicable law, regulation or regulatory requirement or in the interpretation or application thereof or if compliance by the Bank with any applicable direction, request or requirement (whether or not having the force of law) will impose on the Bank any condition, burden or obligations, then the Bank’s commitment to make or maintain the Facility will end upon notice to the Successful Applicant of the happening of such event after it has become aware thereof.
IN CIRCUMSTANCES. 14.1 If:
14.1.1 any change in any law, regulation or official directive (whether or not having the force of law);
14.1.2 any change in the interpretation or application thereof by any authority charged with the administration thereof;
14.1.3 compliance by any office of the Bank in good faith with any request or directive of any applicable monetary or fiscal agency or authority (whether or not having the force of law); results in:
14.1.4 the Bank incurring a cost (including the cost of complying with any reserve, special deposit, liquidity, cash or other requirement or any capital adequacy rules) as a result of having entered into this agreement; or
14.1.5 a reduction in the amount of principal or interest receivable by the Bank under this agreement; or
14.1.6 the Bank making any payment or foregoing any interest or other return on or calculated by reference to any sum received or receivable by it under this agreement; then, upon demand being made to any Borrower by the Bank, the Borrowers shall pay to the Bank such amount as shall compensate the Bank for such cost, reduction, payment or foregone interest or other return. The certificate of the Bank setting out the amount shall, in the absence of manifest error, be conclusive evidence thereof.
14.2 If the Bank is prohibited by law from making, issuing, maintaining or funding (or it is contrary to any directive of any applicable authority for the Bank to make, issue, maintain or fund) any Advance or any Guarantee or any part thereof, then if such Advance has not already been made or such Guarantee has not been issued, the Bank shall not be obliged to make available such Advance or to issue such Guarantee and, if such Advance has already been made or such Guarantee has already been issued, the Borrowers will forthwith on demand by the Bank repay such advance together with all accrued interest and all other amounts due to the Bank under this agreement and provide the Bank with one hundred per cent. cash cover in respect of the maximum potential liability of the Bank under such Guarantee and the Facilities shall be reduced to zero.
14.3 If circumstances arise which would or would upon the giving of notice result in any Borrower being liable to make any indemnity payment under Clause 13.2 or to pay any compensation under Clause 14.1 or to make any repayment under clause 14.2 then without in any way limiting, reducing, or otherwise qualifying such Borrower's obligations under any of such Clauses, the Bank shall i...
IN CIRCUMSTANCES. Where the Bank determines that as a result of the application, introduction, imposition or variation of any Laws and Guidelines or Bank policy or any change in the interpretation or application of any Laws and Guidelines or compliance with any request (whether or not having the force or law) from Bank Negara Malaysia or other fiscal, monetary or other authority or agency the cost to the Bank of making or maintaining or funding its participation in the Facility is increased or the amount of any sum received or receivable by it in respect of its granting the Facility or the effective return to it under this Agreement is reduced or it is obliged to make any payment (except in respect of tax on its overall net income) or foregoes any interest or other return on, or calculated by reference to, the amount of any sum received or receivable by it from the Borrower under this Agreement, then:
(a) the Bank shall have the right to notify the Borrower of such event;
(b) the Borrower shall on demand pay to the Bank such amounts as the Bank may from time to time and at any time (including after a prepayment of the Facility) notify the Borrower to be necessary to compensate the Bank for such increased cost, reduction, payment or foregone interest or return; and
(c) at any time thereafter, so long as the circumstances giving rise to the obligation to make the compensating payment continues:-
(i) at the Borrower's irrevocable election (by giving notice in writing to the Bank), terminate and/or suspend the Facility and the Facility shall be cancelled to such extent; and
(ii) the Borrower may upon giving the Bank not less than thirty (30) days written notice which notice shall be irrevocable repay to the Bank all amounts outstanding under the Facility.
IN CIRCUMSTANCES