Market Disruption and Inability to Determine Interest Rate Sample Clauses

Market Disruption and Inability to Determine Interest Rate. (a) If, at the time that the Administrative Agent shall seek to determine the relevant Screen Rate on the Quotation Day for any Interest Period for a Eurocurrency Loan, the applicable Screen Rate shall not be available for such Interest Period and/or for the applicable currency with respect to such Eurocurrency Loan for any reason and the Administrative Agent shall determine that it is not possible to determine the Interpolated Rate (which conclusion shall be conclusive and binding absent manifest error), then the applicable Reference Bank Rate shall be the Eurocurrency Rate for such Interest Period for such Eurocurrency Loan; provided that if any Reference Bank Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement; provided, further, however, that if less than two Reference Banks shall supply a rate to the Administrative Agent for purposes of determining the Eurocurrency Rate for such Eurocurrency Loan, the Administrative Agent shall be deemed to have determined that adequate and reasonable means do not exist for ascertaining the Eurocurrency Rate for such Eurocurrency Loan and Section 4.15(b)(i) shall apply.[Reserved]
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Market Disruption and Inability to Determine Interest Rate. Subject to Section 4.23, if: (a) the Administrative Agent determines (which determination shall be conclusive and binding absent manifest error) prior to the commencement of any Interest Period, that adequate and reasonable means do not exist for ascertaining Adjusted Term SOFR or the CDOR Rate for such Interest Period; (b) the Administrative Agent shall determine (which determination shall be conclusive and binding absent manifest error) that a fundamental change has occurred in the foreign exchange markets with respect to Canadian Dollars (including changes in national or international financial, political or economic conditions or currency exchange rates or exchange controls); or (c) the Administrative Agent is advised by the Majority Facility Lenders in respect of any Facility that Adjusted Term SOFR or the CDOR Rate does not adequately and fairly reflect the cost to such Lenders of making or maintaining any affected applicable Loans, then, in each case, the Administrative Agent shall give notice thereof to the Borrowers and the relevant Lenders as promptly as practicable thereafter. Upon notice thereof by the Administrative Agent to the Borrowers, any obligation of the Lenders to make Term SOFR Loans or CDOR Loans, as applicable, and any right of a Borrower to Convert a Loan to, or Continue a Loan as, a Term SOFR Loan or CDOR Loan, as applicable, shall be suspended (to the extent of the affected Loans, affected Facility or, in the case of Term SOFR Loans, or CDOR Loans, the affected Interest Periods), until the Administrative Agent (with respect
Sample 1
Market Disruption and Inability to Determine Interest Rate. (a) [Reserved] (b) If prior to the first day of any Interest Period for a Eurocurrency Loan: (i) the Administrative Agent shall have determined (which determination shall be conclusive and binding upon the Borrowers) that, by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining the Eurocurrency Base Rate or the Eurocurrency Rate, as applicable, for a Loan in the applicable currency for such Interest Period; or (ii) the Administrative Agent shall have received notice from the Majority Facility Lenders in respect of any Facility that the Eurocurrency Base Rate or the Eurocurrency Rate, as applicable, for a Loan in the applicable currency or for the applicable Interest Period will not adequately and fairly reflect the cost to such Lenders of making or maintaining their affected Eurocurrency Loans under such Facility during such Interest Period; then the Administrative Agent shall give telecopy or telephonic notice thereof to the U.S. Borrower and the relevant Lenders as soon as practicable thereafter. If such notice is given with respect to the Eurocurrency Base Rate or Eurocurrency Rate applicable to Eurocurrency Loans under any Facility, (x) any such Eurocurrency Loan requested to be made under such Facility on the first day of such Interest Period shall be made as a Base Rate Loan (in the case of a Loan denominated in United States Dollars) or a Prime Rate Loan (in the case of a Loan denominated in Canadian Dollars), (y) any Base Rate Loans or Prime Rate Loans under such Facility that were to have been Converted on the first day of such Interest Period to Eurocurrency Loans shall not be so Converted and shall continue as Base Rate Loans or Prime Rate Loans, as applicable, and (z) any outstanding Eurocurrency Loans under such Facility shall be Converted on the first day of such Interest Period to Base Rate Loans (in the case of Loans denominated in United States Dollars) or Prime Rate Loans (in the case of Loans denominated in Canadian Dollars). Until such notice has been revoked by the Administrative Agent, no further Eurocurrency Loans under such Facility shall be made or Continued as such, nor shall the Borrowers have the right to Convert Loans under such Facility into such Type. (c) The Administrative Agent shall promptly revoke (i) any such notice pursuant to clause (b)(i) above if the Administrative Agent determines that adequate and reasonable means exist for ascertaining the relevant Euro...
Sample 1
Market Disruption and Inability to Determine Interest Rate. (a) [Reserved] (b) If prior to the first day of any Interest Period for a Eurocurrency Loan other than, in each case, as a result of a Benchmark Transition Event or an Early Opt-in Election: (i) the Administrative Agent shall have determined (which determination shall be conclusive and binding upon the Borrowers) that, by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining the Eurocurrency Base Rate or the Eurocurrency Rate, as applicable, for a Loan in the applicable currency for such Interest Period; or (ii) the Administrative Agent shall have received notice from the Majority Facility Lenders in respect of any Facility that the Eurocurrency Base Rate or the Eurocurrency Rate, as applicable, for a Loan in the applicable currency or for the applicable Interest Period will not adequately and fairly reflect the cost to such Lenders of making or maintaining their affected Eurocurrency Loans under such Facility during such Interest Period; then the Administrative Agent shall give telecopy or telephonic notice thereof to the U.S. Borrower and the relevant Lenders as soon as practicable thereafter. If such notice is given with USActive 56005294.156005294.9 -158-
Sample 1
Market Disruption and Inability to Determine Interest Rate. (a) [Reserved]
Sample 1

Related to Market Disruption and Inability to Determine Interest Rate

  • Inability to Determine Interest Rate If prior to the first day of any Interest Period:

  • Inability to Determine Interest Rates If prior to the commencement of any Interest Period for any Eurodollar Borrowing,

  • Inability to Determine Applicable Interest Rate In the event that Administrative Agent shall have determined (which determination shall be final and conclusive and binding upon all parties hereto), on any Interest Rate Determination Date with respect to any Eurodollar Rate Loans, that by reason of circumstances affecting the London interbank market adequate and fair means do not exist for ascertaining the interest rate applicable to such Loans on the basis provided for in the definition of Adjusted Eurodollar Rate, Administrative Agent shall on such date give notice (by telefacsimile or by telephone confirmed in writing) to Borrower and each Lender of such determination, whereupon (i) no Loans may be made as, or converted to, Eurodollar Rate Loans until such time as Administrative Agent notifies Borrower and Lenders that the circumstances giving rise to such notice no longer exist, and (ii) any Funding Notice or Conversion/Continuation Notice given by Borrower with respect to the Loans in respect of which such determination was made shall be deemed to be rescinded by Borrower.

  • Inability to Determine Rate If in connection with any request for a Term SOFR Loan or a conversion to or continuation thereof, as applicable, (a) Agent determines (which determination shall be conclusive absent manifest error) that (i) no Successor Rate has been determined in accordance with Section 3.5.2, and the circumstances under Section 3.5.2(a) or the Scheduled Unavailability Date has occurred (as applicable), or (ii) adequate and reasonable means do not otherwise exist for determining Term SOFR for any requested Interest Period with respect to a proposed Term SOFR Loan or in connection with an existing or proposed Prime Rate Loan, or (b) Agent or Required Lenders determine that for any reason Term SOFR for any requested Interest Period with respect to a proposed Term SOFR Loan does not adequately and fairly reflect the cost to such Lenders of funding such Loan, Agent will promptly so notify Borrowers and Lenders. Thereafter, (x) the obligation of Lenders to make, maintain, or convert Prime Rate Loans to, Term SOFR Loans shall be suspended (to the extent of the affected Term SOFR Loans or Interest Periods), and (y) in the event of a determination described in the preceding sentence with respect to the Term SOFR component of Prime Rate, the utilization of such component in determining Prime Rate shall be suspended, in each case until Agent (or, in the case of a determination by Required Lenders described above, until Agent upon instruction of Required Lenders) revokes such notice. Upon receipt of such notice, (I) Borrowers may revoke any pending request for a Borrowing, conversion or continuation of Term SOFR Loans (to the extent of the affected Term SOFR Loans or Interest Periods) or, failing that, will be deemed to have converted such request into a request for Prime Rate Loans, and (II) any outstanding Term SOFR Loans shall convert to Prime Rate Loans at the end of their respective Interest Periods.

  • Inability to Determine Rates If the Required Lenders determine that for any reason in connection with any request for a Eurodollar Rate Loan or a conversion to or continuation thereof that (a) Dollar deposits are not being offered to banks in the London interbank eurodollar market for the applicable amount and Interest Period of such Eurodollar Rate Loan, (b) adequate and reasonable means do not exist for determining the Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Loan, or (c) the Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Loan does not adequately and fairly reflect the cost to such Lenders of funding such Loan, the Administrative Agent will promptly so notify the Borrower and each Lender. Thereafter, the obligation of the Lenders to make or maintain Eurodollar Rate Loans shall be suspended until the Administrative Agent (upon the instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Eurodollar Rate Loans or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans in the amount specified therein.

  • Inability to Determine LIBOR In the event that, prior to the commencement of any Interest Period relating to any LIBOR Rate Loan, the Agent shall determine that adequate and reasonable methods do not exist for ascertaining LIBOR for such Interest Period, the Agent shall forthwith give notice of such determination (which shall be conclusive and binding on the Borrower and the Lenders absent manifest error) to the Borrower and the Lenders. In such event (a) any Loan Request with respect to a LIBOR Rate Loan shall be automatically withdrawn and shall be deemed a request for a Base Rate Loan and (b) each LIBOR Rate Loan will automatically, on the last day of the then current Interest Period applicable thereto, become a Base Rate Loan, and the obligations of the Lenders to make LIBOR Rate Loans 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 Borrower and the Lenders.

  • Market Disruption (a) If a Market Disruption Event occurs in relation to a Loan for any Interest Period, then the rate of interest on each Lender’s share of that Loan for the Interest Period shall be the percentage rate per annum which is the sum of:

  • Market disruption; non-availability 3.6.1 If and whenever, at any time prior to the commencement of any Interest Period:

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