London Interbank Market Clause Samples
The 'London Interbank Market' clause defines the reference market for interbank lending rates, typically used to determine interest rates for financial contracts. In practice, this clause specifies that interest calculations, such as those based on LIBOR, are tied to rates available in the London interbank market, where major banks lend to each other. By clearly identifying the relevant market, the clause ensures transparency and consistency in how interest rates are set, reducing ambiguity and potential disputes over rate determination.
London Interbank Market. Any reference in the Existing Agreement or any other Existing Document to the London interbank market, London interbank eurodollar market or other analogous or similar term shall be disregarded and, to the extent that such reference operates as a limitation on, or qualification of, the applicability of another provision, such limitation or qualification will be deemed removed.
London Interbank Market. The agreement of the Lender and the Borrower under this Clause 1.6 is not be unreasonably withheld or delayed.
London Interbank Market. Any reference in the Existing Agreement or any other Existing Document to the London interbank market, London interbank eurodollar market or other analogous or similar term shall be disregarded and, to the extent that such provision operates as a limitation on, or qualification of, the applicability of another provision, such limitation or qualification will be deemed removed unless such provision relates to the measurement of compensation for breakage, break funding or other failure by Borrower to borrow, convert, continue, repay or prepay any borrowing, loan or advance on the date specified in any notice delivered pursuant to the Amended Agreement or Amended Document, in which case (i) such compensation will be measured by Agent’s loss, cost and expense attributable to such failure, including any loss, cost or expense arising from the liquidation or redeployment of funds, and (ii) a certificate of Agent setting forth any amount or amounts that Agent is entitled to receive pursuant to such provision shall be delivered to Lead Borrower and shall be conclusive absent manifest error.