SUBSTITUTE INTEREST RATES Sample Clauses
SUBSTITUTE INTEREST RATES. If and whenever, at any time prior to the commencement of any Interest Period for any Loan by reason of changes affecting the Euro market, the Facility Agent shall have determined that, due to circumstances beyond Bank Hapoalim’s control, adequate means do not exist for ascertaining LIBOR during such Interest Period, the Facility Agent shall forthwith give notice (“a Determination Notice”) of such event to the Borrower (a Determination Notice to contain particulars of the relevant circumstances giving rise to its issue) and, notwithstanding the provisions of clause 7 above, the Facility Agent shall offer the Borrower an alternative basis (“the Substitute Basis”) for the determination of the relevant interest rate for such Loan for such Interest Period, the Substitute Basis to be binding upon the Borrower and to take effect in accordance with its terms from the commencement of the relevant Interest Period. If the Borrower determines that it does not wish to continue such Loan under the Substitute Basis, it shall so notify the Facility Agent within 90 (ninety) days of receipt of the Facility Agent’s notice specifying such Substitute Basis, whereupon the outstanding balance of the principal amount of such Loan, together with all accrued interest thereon, as well as all other amounts in respect thereof shall become immediately due and payable. For the avoidance of doubt, no breakage costs or prepayment commissions will be payable by the Borrower in connection with any payment made on any such circumstances as aforesaid.
SUBSTITUTE INTEREST RATES. If and whenever, at any time prior to the commencement, or as applicable, during the Term, of any Foreign Currency Revolving Credit Facility or of any Interest Period of any Loan, by reason of changes affecting the market for the relevant foreign currency of such Foreign Currency Revolving Credit Facility or Loan, the Lender shall have determined that, due to circumstances beyond the Lender’s control, adequate means do not exist for ascertaining LIBOR during such Term or Interest Period, as applicable, the Lender shall forthwith give notice (“a Determination Notice”) of such event to the Borrower (a Determination Notice to contain particulars of the relevant circumstances giving rise to its issue) and, notwithstanding the provisions of clause 6 above, the Lender shall offer the Borrower an alternative basis (“the Substitute Basis”) for the determination of the relevant interest rate for such Term or Interest Period, as applicable, the Substitute Basis to be binding upon the Borrower and to take effect in accordance with its terms from the commencement, or, as applicable, for the remainder, of the relevant Term or Interest Period, as applicable.
SUBSTITUTE INTEREST RATES. The provisions of clause 10 ("SUBSTITUTE INTEREST RATES") of the Facility Agreement are hereby incorporated by reference and shall apply, MUTATIS MUTANDIS, to this Agreement as if all references therein to the "Banks" and the "
SUBSTITUTE INTEREST RATES. The provisions of clause 10 ("SUBSTITUTE INTEREST RATES") of the Facility Agreement with necessary changes, attached hereto in SCHEDULE 7.4, are hereby incorporated by reference.
SUBSTITUTE INTEREST RATES. 36 Accrual and liquidation of interest............................... 37 Communication of the applicable interest rate..................... 37
SUBSTITUTE INTEREST RATES. 9.1. If and whenever, at any time prior to the commencement of any Interest Period, the Banks shall have determined that:
9.1.1. adequate means do not exist for ascertaining LIBOR during such Interest Period; or
9.1.2. deposits in Dollars are not available to any of the Banks in the London Interbank market in the ordinary course of business in sufficient amounts to fund the relevant Advances for such Interest Period or that LIBOR as determined under this Agreement does not constitute an accurate base for the determination of the cost to any of the Banks of obtaining such deposits, the Banks shall forthwith give notice ("a Determination Notice") of such event to the Borrower (a Determination Notice to contain particulars of the relevant circumstances giving rise to its issue) and, notwithstanding the provisions of clause 8 above, the Banks shall designate an alternative basis ("the Substitute Basis") for the determination of the relevant Interest Rate for such Interest Period. Subject to clause 9.2 below, the Substitute Basis shall be binding upon the Borrower and shall take effect in accordance with its terms from the commencement of the relevant Interest Period.
9.2. Upon receipt of a Determination Notice, the Borrower may prepay the Loan in full, provided written notice of prepayment ("the Prepayment Notice") is given to the Banks by the Borrower no later than 7 (seven) Business Days after receipt of the Determination Notice, such prepayment to be made on the first Interest Payment Date after receipt by the Borrower of the Determination Notice, if received more than 14 (fourteen) Business Days prior to the said Interest Payment Date or otherwise by no later than 7 (seven) Business Days from the date of the Prepayment Notice. The provisions of clause 18 below shall not apply to prepayment pursuant to this clause 9.2.
SUBSTITUTE INTEREST RATES. 1. Unavailable or Indeterminable Interest Rate....
SUBSTITUTE INTEREST RATES