Inability to Determine LIBOR Rate Sample Clauses

Inability to Determine LIBOR Rate. In the event that at any time Agent shall determine in the exercise of its good faith business judgment that adequate and reasonable methods do not exist for ascertaining the LIBOR Rate, Agent shall forthwith give notice of such determination (which shall be conclusive and binding on Borrower and Lenders) to Borrower and Lenders. In such event (a) any Loan Request with respect to LIBOR Rate Loans shall be automatically withdrawn and shall be deemed a request for Base Rate Loans and (b) each LIBOR Rate Loan will automatically become a Base Rate Loan at the end of the current Interest Period, and the obligations of Lenders to make LIBOR Rate Loans shall be suspended until Agent determines that the circumstances giving rise to such suspension no longer exist, whereupon Agent shall so notify Borrower and Lenders.
Inability to Determine LIBOR Rate. In the event, prior to the commencement of any Interest Period relating to any LIBOR Rate Loan, the Bank shall determine that adequate and reasonable methods do not exist for ascertaining the LIBOR Rate that would otherwise determine the rate of interest to be applicable to any LIBOR Rate Loan during any Interest Period, the Bank shall promptly give telephonic notice (promptly confirmed in writing) of such determination (which shall be conclusive and binding on the Borrower) to the Borrower. In such event (a) upon receipt of notice, the Borrower may revoke any pending request for any Loan or Conversion Request with respect to LIBOR Rate Loans, (b) if the Borrower does not revoke such request or Conversion Request, the Bank shall make, convert or continue Loans, as proposed by the Borrower, in the amount specified in the request or the Conversion Request submitted by the Borrower, but such Loans shall be made, converted or continued as Base Rate Loans instead of LIBOR Rate Loans, (c) each LIBOR Rate Loan will automatically, on the last day of the then current Interest Period relating thereto, become a Base Rate Loan, and (d) the obligations of the Bank to make LIBOR Rate Loans shall be suspended until the Bank determines that the circumstances giving rise to such suspension no longer exist, whereupon the Bank shall so notify the Borrower.
Inability to Determine LIBOR Rate. Agent will promptly notify Borrower Agents and Lenders if, in connection with a Borrowing of, conversion to or continuation of a LIBOR Loan, (a) Agent determines that (i) deposits are not being offered with respect to LIBOR to banks in the London interbank market for the applicable Loan amount or Interest Period, or (ii) adequate and reasonable means do not exist for determining LIBOR for the applicable Interest Period; or (b) Agent or Required Lenders determine for any reason that LIBOR for the Interest Period does not adequately and fairly reflect the cost to Lenders of funding or maintaining the Loan. Thereafter, Lenders’ obligations to make or maintain affected LIBOR Loans and utilization of the LIBOR component (if affected) in determining U.S. Base Rate shall be suspended until Agent determines (or is instructed by Required Lenders) to withdraw the notice. Upon receipt of such notice, Borrower Agents may revoke any pending request for a Borrowing, conversion or continuation of a Loan bearing interest based on LIBOR and denominated in Dollars or, failing that, will be deemed to have submitted a request for a Base Rate Loan (or in the case of a LIBOR Loan to Foreign Borrowers, shall no longer be available).
Inability to Determine LIBOR Rate. Notwithstanding any other provision of this Financing Agreement to the contrary, if the Agent determines in the exercise of its reasonable business judgment (which determination shall be conclusive and binding upon each Company) that by reason of circumstances affecting the interbank LIBOR Rate market, adequate and reasonable means do not exist for ascertaining the LIBOR Rate applicable to an Interest Period, the Agent shall give written notice of such determination to the Companies and, effective on the first Interest Period following the giving of such notice, the Type of all Loans outstanding under this Financing Agreement shall be changed to Chase Bank Rate Loans and thereafter continue to be Chase Bank Rate Loans until the Agent determines that adequate and reasonable means once again exist for ascertaining the LIBOR Rate applicable to an Interest Period and rescinds the earlier notice. Effective for the Interest Period following the Agent’s rescission of such earlier notice, the Funds Administrator, on behalf of the Companies, may once again make an election pursuant to Section 8.1(d) of this Financing Agreement of the Type of Loans that will be outstanding for an Interest Period.
Inability to Determine LIBOR Rate. If Lender determines in connection with any request for a Loan or continuation thereof for any reason that adequate and reasonable means do not exist for determining the LIBOR Rate, Lender will promptly so notify Borrowers if Lender reasonably determines that such event or events have any impact on the application of the Interest Rate. In such event, Lender shall use, as the LIBOR Rate, the average LIBOR Rate for the two immediately preceding months (for one-month teiins) until Lender notifies Borrowers that the circumstances giving rise to such determination no longer exist.
Inability to Determine LIBOR Rate. In the event that (i) the Agent shall have determined that, by reason of circumstances affecting the London interbank eurodollar market, adequate and reasonable means do not exist for ascertaining the LIBOR Rate for any requested Interest Period with respect to a Loan the Borrowers have requested to be made or to be converted to a LIBOR Loan or (ii) the Required Lenders shall determine and notify the Agent that the rates quoted by the Agent for the purpose of computing the LIBOR Rate for any requested Interest Period with respect to a Loan the Borrowers have requested to be made or to be converted to a LIBOR Loan do not adequately and fairly reflect the cost to the Required Lenders of funding or converting such Loan, the Agent shall give notice of such determination to the Borrowers and the Lenders at least one (1) day prior to the proposed date for funding or converting such Loan. If such notice is given, any request for a LIBOR Loan shall be made or converted to a Prime Loan or withdrawn, at the Borrowers' election. Until such notice has been withdrawn by the Agent, the Borrowers will not request that any Loan be made or converted to a LIBOR Loan.
Inability to Determine LIBOR Rate. Section 6.5.
Inability to Determine LIBOR Rate. If at any time the Bank is unable to determine the rate for deposits in U.S. dollars offered to major money center banks in the London interbank market, the Bank shall forthwith notify the Borrower that the rate cannot be determined and the Advances will automatically, on the first day of the next calendar month, be converted to Base Rate Advances until the Bank shall notify the Borrower that the circumstances causing such suspension no longer exist, at which time the Advances may be re-converted to LIBOR Rate Advances on the first day of the succeeding calendar month.
Inability to Determine LIBOR Rate. Anything in this Agreement to the contrary notwithstanding, if, at the time of or prior to the determination of the LIBOR Set Rate in respect of any LIBOR Set Rate Request, as provided in this Agreement, any of the Lenders determine (which determination shall be conclusive) that (i) by reason of circumstances affecting the London interbank market generally, adequate and fair means do not or will not exist for determining a LIBOR Set Rate or (ii) a LIBOR Set Rate will not accurately reflect the cost to such Lenders of making or maintaining the Loans (or any portion thereof) at a LIBOR Set Rate, then the affected Lenders shall give the Borrower prompt notice thereof, and the Loan (or portions thereof) shall accrue interest, or continue to accrue interest, as the case may be, at the Base Rate. If at any time subsequent to the giving of such notice, such Lenders determine that because of a change in circumstances a LIBOR Set Rate is again available to the Borrower under this Agreement, such Lenders shall so advise the Borrower and the Borrower may convert the rate of interest payable hereunder from the Base Rate to a LIBOR Set Rate by submitting a LIBOR Set Rate Request to the Lenders and otherwise complying with the provisions of this Agreement.
Inability to Determine LIBOR Rate. In the event that, prior to the commencement of any Interest Period relating to any Fixed Rate Loan or Fixed Rate Portion, or to the Bond, the Agent shall determine that adequate and reasonable methods do not exist for ascertaining the LIBOR Rate that would otherwise serve as the basis for determining the rate of interest to be applicable to any Fixed Rate Loan or Fixed Rate Portion, or to the Bond, during any Interest Period, the Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Obligors and the Banks) to the Obligors and the Banks. In such event (a) any Loan Request or Conversion Request with respect to Fixed Rate Loans and any Fixed Rate Portion shall be automatically withdrawn and shall be deemed a request for a Floating Rate Loan or Floating Rate Portion, as the case may be, (b) each Fixed Rate Loan and Fixed Rate Portion will automatically, on the last day of the then current Interest Period relating thereto, become a Floating Rate Loan or a Floating Rate Portion, as the case may be, (c) the interest rate applicable to the Bond, and (d) the obligations of the Banks to make Fixed Rate Loans and Fixed Rate Portions shall be suspended until the Agent determines that the circumstances giving rise to such suspension no longer exist, whereupon the Agent shall so notify the Obligors and the Banks.