Common use of Setting and Notice of LIBOR Rates Clause in Contracts

Setting and Notice of LIBOR Rates. The applicable LIBOR Rate for each Interest Period shall be determined by the Agent, and notice thereof shall be given by the Agent promptly to the Company and each Bank. Each determination of the applicable LIBOR Rate by the Agent shall be conclusive and binding upon the parties hereto, in the absence of demonstrable error; provided, however, that upon notice by a Bank to the Agent and the Company (which notice must be given to the Agent and the Company on or prior to the commencement of the applicable Interest Period) that the LIBOR Rate as so determined by the Agent is not the LIBOR Rate as determined by such Bank, then the LIBOR Rate as so determined by such Bank shall be the LIBOR Rate applicable to such Bank's LIBOR Loan and shall be conclusive and binding on the parties hereto, in the absence of demonstrable error. The Agent shall, upon written request of the Company or any Bank, deliver to the Company or such Bank a statement showing the computations used by the Agent in determining any applicable LIBOR Rate hereunder.

Setting and Notice of LIBOR Rates. The applicable LIBOR Rate for each Interest Period shall be determined by the Agent, and notice thereof shall be given by the Agent promptly to the Company and each Bank. Each determination of the applicable LIBOR Rate by the Agent shall be conclusive and binding upon the parties hereto, in the absence of demonstrable error; provided, however, that upon notice by a Bank to the Agent and the Company (which notice must be given to the Agent and the Company on or prior to the commencement of the applicable Interest Period) that the LIBOR Rate as so determined by the Agent is not the LIBOR Rate as determined by such Bank, then the LIBOR Rate as so determined by such Bank shall be the LIBOR Rate applicable to such Bank's ’s LIBOR Loan and shall be conclusive and binding on the parties hereto, in the absence of demonstrable error. The Agent shall, upon written request of the Company or any Bank, deliver to the Company or such Bank a statement showing the computations used by the Agent in determining any applicable LIBOR Rate hereunder.

Setting and Notice of LIBOR Rates. The applicable LIBOR Rate for each Interest Period shall be determined by the Agent, and notice thereof shall be given by the Agent promptly to the Company and each Bank. Each determination of the applicable LIBOR Rate by the Agent shall be conclusive and binding upon the parties hereto, in the absence of demonstrable error; provided, however, that upon notice by a Bank to the Agent and the Company (which notice must be given to the Agent and the Company on or prior to the commencement of the applicable Interest Period) that the LIBOR Rate as so determined by the Agent is not the LIBOR Rate as determined by such Bank, then the LIBOR Rate as so determined by such Bank shall be the LIBOR Rate applicable to such Bank's LIBOR Loan and shall be conclusive and binding on the parties hereto, in the absence of demonstrable error. The Agent shall, upon written request of the Company or any Bank, deliver to the Company or such Bank a statement showing the computations used by the Agent in determining any applicable LIBOR Rate hereunder.