Common use of Suspension of the LIBO Rate Clause in Contracts

Suspension of the LIBO Rate. (a) If any Liquidity Bank notifies its Co-Agent that it has determined that funding its Pro Rata Share of the Receivable Interests of the Liquidity Banks in its Group 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 Receivable Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Receivable Interest at such LIBO Rate, then the applicable Co-Agent shall suspend the availability of such LIBO Rate for its Group and require the Seller to select the Base Rate for any Receivable Interest of its Group that has been accruing Discount at such LIBO Rate.

Suspension of the LIBO Rate. (a) If any Liquidity Bank notifies its the applicable Co-Agent that it has determined that funding its Pro Rata Ratable Share of the Receivable Interests of the Liquidity Banks in its Group 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 lawdue to a Regulatory Change, or that (i) deposits of a type and maturity appropriate to match fund its Receivable Interests at such LIBO Rate are not available or (ii) such LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Receivable Interest at such LIBO Rate, then the applicable such Co-Agent shall suspend the availability of such LIBO Rate for its Group and require the Seller Transferor to select the Alternate Base Rate for any Receivable Interest of its Group that has been accruing Discount at such LIBO Ratefunded by its Liquidity Banks.

Suspension of the LIBO Rate. (a) If any Liquidity Bank notifies its the applicable Co-Agent that it has determined that funding its Pro Rata Ratable Share of the Receivable Purchaser Interests of the Liquidity Banks in its Group 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 Receivable 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 Receivable Purchaser Interest at such LIBO Rate, then the applicable such Co-Agent shall suspend the availability of such LIBO Rate for its Group and require the Seller to select the Base Prime Rate for any Receivable Purchaser Interest of its Group that has been accruing Discount Yield at such LIBO Rate.

Suspension of the LIBO Rate. (a) If any Liquidity Bank notifies its applicable Co-Agent that it has reasonably determined that funding its Pro Rata Share of the Receivable Interests its Group’s Percentage of the Liquidity Banks in its Group 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 Receivable 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 Receivable Interest Liquidity Funding at such LIBO Rate, then the applicable such Co-Agent shall suspend the availability of such LIBO Rate for its Group and require the Seller Borrower to select the Alternate Base Rate for any Receivable Liquidity Funding of such Liquidity Bank accruing Interest of its Group that has been accruing Discount at such LIBO Rate.

Suspension of the LIBO Rate. (a) If any Liquidity Bank notifies its applicable Co-Agent that it has determined that funding its Pro Rata Share of the Receivable Interests its Conduit Group's Percentage of the Liquidity Banks in its Group 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 Receivable 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 Receivable Interest Liquidity Funding at such LIBO Rate, then the applicable such Co-Agent shall suspend the availability of such LIBO Rate for its Group and require the Seller Borrower to select the Alternate Base Rate for any Receivable Liquidity Funding of such Liquidity Bank accruing Interest of its Group that has been accruing Discount at such LIBO Rate.

Suspension of the LIBO Rate. (a) If any Liquidity Bank notifies its applicable Co-Agent that it has determined that funding its Pro Rata Share of the Receivable Interests its Conduit Group’s Percentage of the Liquidity Banks in its Group Fundings at a LIBO Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authorityGovernmental Authority, whether or not having the force of law, or that (i) deposits of a type and maturity appropriate to match fund its Receivable 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 Receivable Interest Liquidity Funding at such LIBO Rate, then the applicable such Co-Agent shall suspend the availability of such LIBO Rate for its Group and require the Seller Borrower to select the Alternate Base Rate for any Receivable Liquidity Funding of such Liquidity Bank accruing Interest of its Group that has been accruing Discount at such LIBO Rate.

Suspension of the LIBO Rate. (a) If any Liquidity Bank notifies its applicable Co-Agent that it has determined that funding its Pro Rata Share of the Receivable Interests its Lender Group’s Percentage of the Liquidity Banks in its Group 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 Receivable 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 Receivable Interest Liquidity Funding at such LIBO Rate, then the applicable such Co-Agent shall suspend the availability of such LIBO Rate for its Group and require the Seller to select application of the Alternate Base Rate for any Receivable Liquidity Funding of such Liquidity Bank accruing Interest of its Group that has been accruing Discount at such LIBO Rate.

Suspension of the LIBO Rate. (a) If any Liquidity Bank notifies its applicable Co-Agent that it has determined that funding its Pro Rata Share of the Receivable Interests its Conduit Group’s Percentage of the Liquidity Banks in its Group 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 Receivable 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 Receivable Interest Liquidity Funding at such LIBO Rate, then the applicable such Co-Agent shall suspend the availability of such LIBO Rate for its Group and require the Seller Collection Agent, on behalf of Borrowers, to select the Alternate Base Rate for any Receivable Liquidity Funding of such Liquidity Bank accruing Interest of its Group that has been accruing Discount at such LIBO Rate.