Common use of INABILITY TO Clause in Contracts

INABILITY TO. FUND If, as a result of any event or circumstance giving rise to an event referred to in Clause 6.1 (a) or (b) (MARKET DISRUPTION), any Bank is unable to fund its portion of an Advance during the Term relating thereto in the currency of such Advance, such Bank shall notify the Agent by no later than 11.30 a.m. (London time) on the Quotation Date for such Advance, the Agent shall promptly notify the relevant Borrower and the Guarantor and the Guarantor may, by no later than 1.00 p.m. (London time) on the Quotation Date for the relevant Term, select that such Advance be denominated in another currency (being either dollars or euros which in either case is freely available for the funding of such Advance during such Term) during such Term. The rate of interest applicable to such Advance during such Term shall be the sum of the Applicable Margin at such time and the rate per annum determined by the Agent to be the arithmetic mean (rounded upwards, if not already such a multiple, to the nearest whole multiple of one thousandth of one per cent.) of the rates (as notified to the Agent (who shall notify the same to the Guarantor)) at which each of the relevant Reference Banks was offering to prime banks in the relevant Interbank Market deposits in the currency of such Advance and for such Term at or about 2.00 p.m. (Amsterdam time) on the Quotation Date for such period and the provisions of Clause 18.5(c) (BORROWER'S INDEMNITY) shall apply. Otherwise, such Advance shall be made or shall continue to remain outstanding in the currency determined in accordance with Clause 4 (UTILISATION OF THE FACILITY) and Clause 18.5(d) (BORROWER'S INDEMNITY) shall apply.

INABILITY TO. FUND If, as a result of any event or circumstance giving rise to an event referred to in Clauses 6.1.1 and 6.1.2 of Clause 6.1 (a) or (b) (MARKET DISRUPTIONMarket Disruption), any Bank is unable to fund its portion of an Advance during the Term relating thereto in the currency of such Advance, such Bank shall notify the Agent by no later than 11.30 a.m. (London time) on the Quotation Date for such Advance, the Agent shall promptly notify the relevant Borrower and the Guarantor and the Guarantor may, by no later than 1.00 p.m. (London time) on the Quotation Date for the relevant Term, select that such Advance be denominated in another currency (being either dollars or euros which in either case is freely available for the funding of such Advance during such Term) during such Term. The rate of interest applicable to such Advance during such Term shall be the sum of the Applicable Margin at such time and the rate per annum determined by the Agent to be the arithmetic mean (rounded upwards, if not already such a multiple, to the nearest whole multiple of one thousandth of one per cent.) of the rates (as notified to the Agent (who shall notify the same to the Guarantor)) at which each of the relevant Reference Banks was offering to prime banks in the relevant Interbank Market deposits in the currency of such Advance and for such Term at or about 2.00 p.m. (Amsterdam time) on the Quotation Date for such period and the provisions of Clause 18.5(c) 18.5.3 of Clause 18.5 (BORROWER'S INDEMNITYBorrower's Indemnity) shall apply. Otherwise, such Advance shall be made or shall continue to remain outstanding in the currency determined in accordance with Clause 4 (UTILISATION OF THE FACILITYUtilisation of the Facility) and Clause 18.5(d) 18.5.4 of Clause 18.5 (BORROWER'S INDEMNITYBorrower's Indemnity) shall apply.