SUSPENSION OF DRAWDOWNS. If a notification under Clause 12.2 (Market disruption) applies and is continuing, the Finance Parties shall be under no obligation to advance any further Loans. However, within five Business Days of receipt of the notification, the Borrower and the Agent shall enter into negotiations for a period of not more than 30 days with a view to agreeing an alternative basis for determining the rate of interest and/or funding applicable to any future Loans. Any alternative basis agreed shall be, with the prior consent of all the Banks, binding on all the Parties.
SUSPENSION OF DRAWDOWNS. If a notification under Clause 12.2 (Market Disruption) applies to the Loan which has not been made, that Loan shall not be made. However, within five Business Days of receipt of the notification, the Borrower and the Agent shall enter into negotiations for a period of not more than 30 days with a view to agreeing an alternative basis for determining the rate of interest and/or funding applicable to the Loan. Any alternative basis agreed shall be, with the prior consent of all the Banks, binding on all the Parties.
SUSPENSION OF DRAWDOWNS. (a) If the Agent gives a notice in reliance upon Clause 12.2(a) (Market disruption):
SUSPENSION OF DRAWDOWNS. If a notification under Clause 14.2 (Market disruption) applies to a Loan which has not been made, the Borrowers' Agent may (by notice to the Agent) elect that the Loan shall not be made. If the Borrowers' Agent does not so elect and such Loan is made, Clause 14.4 shall apply thereto. If the Borrowers' Agent does so elect, the Borrower's Agent and the Agent shall, within five Business Days of the relevant Rate Fixing Day, enter into negotiations for a period of not more than 30 days with a view to agreeing an alternative basis for the borrowing of that and any future Loan made while such circumstances continue. Any alternative basis agreed shall be, with the prior consent of all the Banks, binding on all the Parties.
SUSPENSION OF DRAWDOWNS. If a notification under Clause 12.1 (Market disruption) applies to a Loan which has not been made, that Loan shall not be made. However, within five Business Days of receipt of the notification, the Borrower and the Bank shall enter into negotiations for a period of not more than 30 days with a view to agreeing an alternative basis for determining the rate of interest -------------------------------------------------------------------------------- 17 -------------------------------------------------------------------------------- and/or funding applicable to that and (to the extent required) any future Loan. Any alternative basis agreed shall be binding on all the Parties.
SUSPENSION OF DRAWDOWNS. 33 14.4 ALTERNATIVE BASIS FOR OUTSTANDING ADVANCES...................... 33
SUSPENSION OF DRAWDOWNS. If a notification under Clause 14.2 (Market Disruption) applies to an Advance which has not been made, that Advance shall not be made. However, within five Business Days of receipt of the notification, the Borrower and the Bank shall enter into negotiations for a period of not more than 30 days with a view to agreeing to an alternative basis for the borrowing of that and any future Advance.
SUSPENSION OF DRAWDOWNS. If a notification under Clause 13.2 (Market disruption) applies to an Advance which has not been made, that Advance shall not be made. However, within five Business Days of receipt of the notification, the Borrowers and the Banks shall enter into negotiations for a period of not more than 30 days with a view to agreeing an alternative basis for the borrowings of that and any future Advance. Any alternative basis agreed shall be binding on all the Parties.
SUSPENSION OF DRAWDOWNS. After any notification under Clause 15.2 (Market disruption) the relevant Advance shall not be made. However, within five Business Days of receipt of the notification, the Borrower and the Agent shall enter into negotiations for a period of not more than 30 days with a view to agreeing an alternative basis for determining the rate of interest and/or funding applicable to that and (to the extent required) any future Advance. Any alternative basis agreed with the prior consent of all the Banks shall be binding on all the Parties. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------
SUSPENSION OF DRAWDOWNS. If a notification under Clause 14.2 (Market disruption) applies to a Loan which has not been made, the Borrowers' Agent may (by notice to
