Common use of Suspension of the LIBO Rate Clause in Contracts

Suspension of the LIBO Rate. (a) If any Financial Institution notifies the Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then the Agent shall suspend the availability of such LIBO Rate and require Seller to select the Prime Rate for any Purchaser Interest accruing Yield at such LIBO Rate.

Appears in 10 contracts

Samples: Receivables Purchase Agreement (SCP Pool Corp), Receivables Purchase Agreement (Ferrellgas Partners Finance Corp), Receivables Purchase Agreement (Genlyte Group Inc)

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Suspension of the LIBO Rate. (a) If any Financial Institution Committed Purchaser notifies the its related Managing Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then such Managing Agent shall notify the Collateral Agent and shall suspend the availability of such LIBO Rate and require Seller to select the Prime Base Rate for any Purchaser Interest accruing Yield at such LIBO Rate.

Appears in 9 contracts

Samples: Receivables Purchase Agreement (McKesson Corp), Receivables Purchase Agreement (McKesson Corp), Receivables Purchase Agreement (McKesson Corp)

Suspension of the LIBO Rate. (a) If any Financial Institution notifies the Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then the Agent shall suspend the availability of such LIBO Rate and require Seller to select the Prime Base Rate for any Purchaser Interest accruing Yield at such LIBO Rate.

Appears in 5 contracts

Samples: Receivables Purchase Agreement (Flowserve Corp), Receivables Sale Agreement, Receivables Purchase Agreement (Jabil Circuit Inc)

Suspension of the LIBO Rate. (a) If any Financial Institution Liquidity Bank notifies the Agent that it has determined that funding its Pro Rata Share ratable share of the Purchaser Interests of the Financial Institutions Liquidity Fundings at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests Liquidity Funding at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest Liquidity Funding at such LIBO Rate, then the Agent shall suspend the availability of such LIBO Rate and require Seller to select the Prime Alternate Base Rate for any Purchaser Interest Liquidity Funding accruing Yield at such LIBO Rate.

Appears in 4 contracts

Samples: Receivables Purchase Agreement (Adc Telecommunications Inc), Receivables Purchase Agreement (Lafarge Corp), Receivables Purchase Agreement (Wolverine Tube Inc)

Suspension of the LIBO Rate. (a) If any Financial Institution Purchaser notifies the Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests Aggregate Capital in respect of the Financial Institutions Purchaser at a the LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests Capital at such the LIBO Rate are not available or (ii) such the LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest any portion of the Asset Portfolio or Capital at such the LIBO Rate, then the Agent or such Purchaser, as applicable, shall suspend the availability of such the LIBO Rate for such Purchaser and require Seller to select the Prime Alternate Base Rate for any Capital funded by such Purchasers accruing Purchaser Interest accruing Yield at such the LIBO Rate.

Appears in 4 contracts

Samples: Contract Purchase Agreement (Patterson Companies, Inc.), Contract Purchase Agreement (Patterson Companies, Inc.), Contract Purchase Agreement (Patterson Companies, Inc.)

Suspension of the LIBO Rate. (a) If any Financial Institution notifies the Administrative Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then the Administrative Agent shall suspend the availability of such LIBO Rate and require Seller to select the Prime Rate for any Purchaser Interest accruing Yield at such LIBO Rate.

Appears in 3 contracts

Samples: Receivables Purchase Agreement (Beckman Coulter Inc), Receivables Purchase Agreement (Beckman Coulter Inc), Receivables Purchase Agreement (Beckman Coulter Inc)

Suspension of the LIBO Rate. (a) If any Financial Institution Related Committed Purchaser or Liquidity Provider notifies the related Purchaser Agent that it has determined that funding its Pro Rata Share ratable share of the Purchaser Interests of the Financial Institutions Bank Rate Fundings at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests Bank Rate Funding at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest Bank Rate Funding at such LIBO Rate, then the such Purchaser Agent shall suspend the availability of such LIBO Rate and require Seller to select the Prime Alternate Base Rate for any Purchaser Interest Bank Rate Funding accruing Yield at such LIBO Rate.

Appears in 2 contracts

Samples: Receivables Purchase Agreement (Amerisourcebergen Corp), Receivables Purchase Agreement (Amerisourcebergen Corp)

Suspension of the LIBO Rate. (a) If any Financial Institution Committed Purchaser notifies the relevant Funding Agent and the Agent that it has determined that funding its Pro Rata Share of the Committed Purchaser Interests of the Financial Institutions Interest at a LIBO Rate would violate any applicable law, rule, regulation, regulation or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then the relevant Funding Agent shall suspend the availability of such LIBO Rate and require Seller to select the Prime Rate for any Purchaser Interest accruing Yield at such LIBO Rate.

Appears in 2 contracts

Samples: Receivables Purchase Agreement (Energizer Holdings Inc), Receivables Purchase Agreement (Energizer Holdings Inc)

Suspension of the LIBO Rate. (a) If any Financial Institution Committed Purchaser notifies the its related Managing Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions Committed Purchasers at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then the such Managing Agent shall suspend the availability of such LIBO Rate and require Seller to select the Prime Rate for any Purchaser Interest accruing Yield at such LIBO Rate.

Appears in 2 contracts

Samples: Assignment Agreement (Hanesbrands Inc.), Receivables Purchase Agreement (Hanesbrands Inc.)

Suspension of the LIBO Rate. (a) If any Financial Institution notifies the its related Managing Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then the such Managing Agent shall suspend the availability of such LIBO Rate and require Seller to select the Prime Base Rate for any Purchaser Interest accruing Yield at held by such LIBO RateFinancial Institution.

Appears in 2 contracts

Samples: Receivables Purchase Agreement (Johnsondiversey Holdings Inc), Receivables Purchase Agreement (Johnsondiversey Inc)

Suspension of the LIBO Rate. (a) If any Financial Institution notifies the Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then the Agent shall suspend the availability of such LIBO Rate and require Seller to select the Prime Rate for any Purchaser Interest accruing Yield at such LIBO Rate.

Appears in 2 contracts

Samples: Receivables Purchase Agreement (Timken Co), Receivables Purchase Agreement (Plexus Corp)

Suspension of the LIBO Rate. (a) If any Financial Institution notifies the its related Managing Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then the such Managing Agent shall suspend the availability of such LIBO Rate and require Seller to select the Prime Rate for any Purchaser Interest accruing Yield at held by such LIBO RateFinancial Institution.

Appears in 2 contracts

Samples: Receivables Purchase Agreement (Johnsondiversey Inc), Receivables Purchase Agreement (Johnsondiversey Holdings Inc)

Suspension of the LIBO Rate. (a) If any Financial Institution Liquidity Bank notifies the Agent that it has reasonably determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions Liquidity Fundings at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests Liquidity Funding at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest Liquidity Funding at such LIBO Rate, then the Agent shall suspend the availability of such LIBO Rate and require Seller the Borrower to select the Prime Alternate Base Rate for any Purchaser Liquidity Funding accruing Interest accruing Yield at such LIBO Rate.

Appears in 2 contracts

Samples: Credit and Security Agreement (Zep Inc.), Credit and Security Agreement (Acuity Brands Inc)

Suspension of the LIBO Rate. (a) If any Financial Institution Committed Purchaser notifies the relevant Agent and the Administrative Agent that it has determined that funding its Pro Rata Share of the Committed Purchaser Interests of the Financial Institutions Interest at a LIBO Rate would violate any applicable law, rule, regulation, regulation or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then the relevant Agent shall suspend the availability of such LIBO Rate and require Seller to select the Prime Alternate Base Rate for any Purchaser Interest accruing Yield at such LIBO Rate.

Appears in 2 contracts

Samples: Receivables Purchase Agreement (Energizer Holdings Inc), Assignment Agreement (Energizer Holdings Inc)

Suspension of the LIBO Rate. (a) If any Financial --------------------------- Institution notifies the Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then the Agent shall suspend the availability of such LIBO Rate and require Seller to select the Prime Base Rate for any Purchaser Interest accruing Yield at such LIBO Rate.

Appears in 2 contracts

Samples: Receivables Purchase Agreement (Torchmark Corp), Receivables Purchase Agreement (Torchmark Corp)

Suspension of the LIBO Rate. (a) If any Financial Institution notifies the Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring ofacquiring or maintaining a Purchaser Interest at such LIBO Rate, then the Agent shall suspend the availability of such LIBO Rate and require Seller to select the Prime Base Rate for any Purchaser Interest accruing Yield at such LIBO Rate.

Appears in 1 contract

Samples: Receivables Financing Agreement (Syncor International Corp /De/)

Suspension of the LIBO Rate. (a) If any Financial Institution notifies the relevant Funding Agent and the Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, regulation or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then the relevant Funding Agent shall suspend the availability of such LIBO Rate and require Seller to select the Prime Rate for any Purchaser Interest accruing Yield at such LIBO Rate.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Energizer Holdings Inc)

Suspension of the LIBO Rate. (a) If any Financial Institution notifies the Agent that it has determined in good faith that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then the Agent shall suspend the availability of such LIBO Rate and require Seller to select the Prime Rate for any Purchaser Interest accruing Yield at such LIBO Rate.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Weatherford International Inc /New/)

Suspension of the LIBO Rate. (a) If any Financial Institution Liquidity Bank notifies the Agent that it has reasonably determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions Liquidity Fundings at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests Liquidity Funding at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest Liquidity Funding at such LIBO Rate, then the Agent shall suspend the availability of such LIBO Rate and require Seller the applicable Borrower to select the Prime Alternate Base Rate for any Purchaser Liquidity Funding accruing Interest accruing Yield at such LIBO Rate.

Appears in 1 contract

Samples: Credit and Security Agreement (Acuity Brands Inc)

Suspension of the LIBO Rate. (a) If any Financial Institution Committed Purchaser notifies the Agent that it has determined that funding its Pro Rata Share of the any Committed Purchaser Interests of the Financial Institutions Investment at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match match-fund its Purchaser Interests investment at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a its Committed Purchaser Interest Investment at such LIBO Rate, then the Agent shall suspend the availability of such LIBO Rate as to such Committed Purchaser and require Seller to select the Prime Alternate Base Rate for any Committed Purchaser Interest Investment of such Committed Purchaser accruing Yield at such LIBO Rate.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Wolverine Tube Inc)

Suspension of the LIBO Rate. (a) If any Financial Institution notifies the Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then the Agent shall suspend the availability of such LIBO Rate for such Financial Institution and require Seller to select the Prime Rate for any Purchaser Interest accruing Yield at such LIBO Rate.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Cott Corp /Cn/)

Suspension of the LIBO Rate. (a) If any Financial Institution notifies the Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests Loans of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests Loans at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest Loans at such LIBO Rate, then the Agent shall suspend the availability of such LIBO Rate and require Seller the Borrower to select the Prime Base Rate for any Purchaser Interest Loan accruing Yield at such LIBO Rate.

Appears in 1 contract

Samples: Assignment Agreement (Reynolds & Reynolds Co)

Suspension of the LIBO Rate. (a) If any Financial Institution notifies the its related Managing Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then such Managing Agent shall notify the Agent and shall suspend the availability of such LIBO Rate and require Seller to select the Prime Rate plus 1.25% per annum as the Discount Rate for any Purchaser Interest accruing Yield at such LIBO Rate.

Appears in 1 contract

Samples: Assignment Agreement (Timken Co)

Suspension of the LIBO Rate. (a) If any Financial Institution notifies the Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then the Agent shall suspend the availability of such LIBO Rate and require Seller to select the Prime Rate plus 2.25% per annum as the Discount Rate for any Purchaser Interest accruing Yield at such LIBO Rate.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Timken Co)

Suspension of the LIBO Rate. (a) If any Financial Institution notifies the its related Managing Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then the such Managing Agent shall suspend the availability of such LIBO Rate and require Seller to select the Prime Rate for any Purchaser Interest accruing Yield at such LIBO Rate shall accrue interest at the Alternate Base Rate.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Insight Enterprises Inc)

Suspension of the LIBO Rate. (a) If any Financial Institution notifies the Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a the LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such the LIBO Rate are not available or (ii) such the LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such the LIBO Rate, then the Agent shall suspend the availability of such the LIBO Rate and require Seller to select the Prime Rate for any Purchaser Interest accruing Yield at such the LIBO Rate, and the then current Tranche Period for such Purchaser Interest shall thereupon be terminated.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Puget Sound Energy Inc)

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Suspension of the LIBO Rate. (a) If any Financial Institution notifies the Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then the Agent shall suspend the availability of such LIBO Rate with respect to such Financial Institution and require Seller to select the Prime Base Rate for any Purchaser Interest accruing Yield at such LIBO RateRate with respect to such Financial Institution.

Appears in 1 contract

Samples: Receivables Purchase Agreement (School Specialty Inc)

Suspension of the LIBO Rate. (a) If any Financial Institution notifies the its related Managing Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of at the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then such Managing Agent shall notify the Agent and shall suspend the availability of such LIBO Rate and require Seller to select the Prime Rate plus 1.25% per annum as the Discount Rate for any Purchaser Interest accruing Yield at such LIBO Rate.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Timken Co)

Suspension of the LIBO Rate. (a) If any Financial Institution notifies the its related Managing Agent that (i) it has determined that funding or maintaining its Pro Rata Share of the Purchaser Interests of the Financial Institutions Interest at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (iii) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available available, or (iiiii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then such Managing Agent shall notify the Agent and shall suspend the availability of such LIBO Rate and require Seller until such Financial Institution notifies its related Managing Agent that such conditions cease to select apply, Yield shall accrue at the Prime Rate for any Purchaser Interest accruing Yield at such LIBO Base Rate.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Anixter International Inc)

Suspension of the LIBO Rate. (a) If any Financial Institution notifies all Liquidity Banks notify the Agent that it each has determined that funding its Pro Rata Share ratable share of the Purchaser Interests of the Financial Institutions Liquidity Fundings at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests Liquidity Funding at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest Liquidity Funding at such LIBO Rate, then the Agent shall suspend the availability of such LIBO Rate and require Seller to select the Prime Alternate Base Rate for any Purchaser Interest Liquidity Funding accruing Yield at such LIBO Rate.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Edwards Lifesciences Corp)

Suspension of the LIBO Rate. (a) If any Financial Institution notifies the Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then the Agent shall suspend the availability of such LIBO Rate and require Seller to select the Prime Base Rate for any Purchaser Interest accruing Yield at such LIBO Rate.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Navistar Financial Retail Receivables Corporation)

Suspension of the LIBO Rate. (a) If any Financial Institution notifies the Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then the Agent shall suspend the availability of such LIBO Rate and require Seller Finance Subsidiary to select the Prime Base Rate for any Purchaser Interest accruing Yield at such LIBO Rate.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Wix Filtration Media Specialists, Inc.)

Suspension of the LIBO Rate. (a) If any Financial Institution notifies the theits related Managing Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then the thesuch Managing Agent shall suspend the availability of such LIBO Rate and require Seller to select the Prime Rate for any Purchaser Interest accruing Yield at such LIBO Rate shall accrue interest at the Alternate Base Rate.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Insight Enterprises Inc)

Suspension of the LIBO Rate. (a) If any Financial Institution Alternate Lender notifies the Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of Liquidity Fundings at the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests Liquidity Funding at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest Liquidity Funding at such LIBO Rate, then the Agent shall suspend the availability of such LIBO Rate and require Seller the Borrower to select the Prime Alternate Base Rate for any Purchaser Liquidity Funding accruing Interest accruing Yield at such LIBO Rate.

Appears in 1 contract

Samples: Credit and Security Agreement (PMC Commercial Trust /Tx)

Suspension of the LIBO Rate. (a) If any Financial Institution notifies the Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then the Agent shall suspend the availability of such LIBO Rate and require Seller to select the Prime Base Rate for any Purchaser Interest accruing Yield at such LIBO Rate.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Johnson Polymer Inc)

Suspension of the LIBO Rate. (a) If any Financial Institution notifies the Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such 6 LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then the Agent shall suspend the availability of such LIBO Rate and require Seller to select the Prime Alternative Base Rate for any Purchaser Interest accruing Yield at such LIBO Rate.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Graybar Electric Co Inc)

Suspension of the LIBO Rate. (a) If any Financial ------------------------------- Institution notifies the Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, regulation or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then the Agent shall suspend the availability of such LIBO Rate and require Seller to select the Prime Rate for any Purchaser Interest accruing Yield at such LIBO Rate.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Energizer Holdings Inc)

Suspension of the LIBO Rate. (a) If any Financial Institution notifies the Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then the Agent shall suspend the availability of such LIBO Rate and require Seller to select the Prime Rate for any Purchaser Interest of such notifying Financial Institution accruing Yield at such LIBO Rate.

Appears in 1 contract

Samples: Receivables Purchase Agreement (American Commercial Lines LLC)

Suspension of the LIBO Rate. (a) If any Financial Institution notifies the Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining maintain ing a Purchaser Interest at such LIBO Rate, then the Agent shall suspend the availability of such LIBO Rate and require Seller to select the Prime Rate for any Purchaser Interest accruing Yield at such LIBO Rate.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Interface Inc)

Suspension of the LIBO Rate. (a) If any Financial Institution notifies the Agent that it has determined that (i) funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (iii) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (iiiii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO RateRate for such Financial Institution, then the Agent shall suspend the availability of such LIBO Rate for such Financial Institution and require Seller to select the Prime Rate for any Purchaser Interest accruing Yield at such LIBO RateRate for such Financial Institution.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Navistar Financial Corp)

Suspension of the LIBO Rate. (a) If any Financial Institution notifies the Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rate, then the Agent shall suspend the availability of such LIBO Rate and require Seller to select the Prime Rate for any Purchaser Interest accruing Financial Institution Yield at such LIBO Rate.

Appears in 1 contract

Samples: Patterson Receivables Purchase Agreement (Patterson Dental Co)

Suspension of the LIBO Rate. (a) If any Financial Institution notifies the Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Financial Institutions at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) by reason of circumstances affecting the foreign exchange and interbank markets generally, deposits of a type and maturity appropriate to match fund its Purchaser Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at such LIBO Rateavailable, then the Agent shall suspend the availability of such LIBO Rate and require Seller to select the Prime Rate for any Purchaser Interest accruing Yield at such LIBO Rate.

Appears in 1 contract

Samples: Receivables Purchase Agreement (Performance Food Group Co)

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