Common use of Unavailability of Deposits or Inability to Ascertain Adjusted LIBOR Clause in Contracts

Unavailability of Deposits or Inability to Ascertain Adjusted LIBOR. Notwithstanding any other provision of this Agreement or the Note, if prior to the commencement of any Interest Period, the Bank shall determine that deposits in the amount of any LIBOR Portion scheduled to be outstanding during such Interest Period are not readily available to the Bank in the relevant market or, by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining Adjusted LIBOR, then the Bank shall promptly give notice thereof to the Company and the obligations of the Bank to create or effect by conversion any such Fixed Rate Portion in such amount and for such Interest Period shall terminate until deposits in such amount and for the Interest Period selected by the Company shall again be readily available in the relevant market and adequate and reasonable means exist for ascertaining Adjusted LIBOR.

Appears in 4 contracts

Samples: Credit Agreement (Newport Corp), Credit Agreement (Newport Corp), Newport Corp

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Unavailability of Deposits or Inability to Ascertain Adjusted LIBOR. Notwithstanding any other provision of this Agreement or the Note, if the Bank shall determine prior to the commencement of any Interest Period, the Bank shall determine Period that deposits in the amount of any LIBOR Portion scheduled to be outstanding during such Interest Period are not readily available to the Bank in the relevant market or, by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining Adjusted LIBOR, then the Bank shall promptly give notice thereof to the Company Borrower and the obligations of the Bank to create create, continue, or effect by conversion any such Fixed Rate LIBOR Portion in such amount and for such Interest Period shall terminate be suspended until deposits in such amount and for the Interest Period selected by the Company Borrower shall again be readily available in the relevant market and adequate and reasonable means exist for ascertaining Adjusted LIBOR.

Appears in 3 contracts

Samples: Credit Agreement (Woodhead Industries Inc), Credit Agreement (Cleveland Cliffs Inc), Credit Agreement (Cleveland Cliffs Inc)

Unavailability of Deposits or Inability to Ascertain Adjusted LIBOR. Notwithstanding any other provision of this Agreement or the any Note, if prior to the commencement of any Interest Period, the Bank Lender shall determine that deposits in the amount of any LIBOR Portion scheduled to be outstanding during such Interest Period are not readily available to the Bank Lender in the relevant market or, by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining Adjusted LIBOR, then the Bank Lender shall promptly give notice thereof to the Company and the obligations obligation of the Bank Lender to create create, continue or effect by conversion any such Fixed Rate LIBOR Portion in such amount and for such Interest Period shall terminate be suspended until deposits in such amount and for the Interest Period selected by the Company shall again be readily available in the relevant market and adequate and reasonable means exist for ascertaining Adjusted LIBOR.

Appears in 3 contracts

Samples: Credit Agreement (Maf Bancorp Inc), Credit Agreement (Maf Bancorp Inc), Credit Agreement (Maf Bancorp Inc)

Unavailability of Deposits or Inability to Ascertain Adjusted LIBOR. Notwithstanding any other provision of this Agreement or the any Note, if prior to the commencement of any Interest Period, the Bank Lender shall determine that deposits in the amount of any LIBOR Portion scheduled to be outstanding during such Interest Period are not readily available to the Bank Lender in the relevant market or, by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining Adjusted LIBOR, then the Bank Lender shall promptly give notice thereof to the Company and the obligations obligation of the Bank Lender to create create, continue or effect by conversion any such Fixed Rate LIBOR Portion in such amount and for such Interest Period shall terminate until deposits in such amount and for the Interest Period selected by the Company shall again be readily available in the relevant market and adequate and reasonable means exist for ascertaining Adjusted LIBOR.

Appears in 2 contracts

Samples: Credit Agreement (Maf Bancorp Inc), Credit Agreement (Maf Bancorp Inc)

Unavailability of Deposits or Inability to Ascertain Adjusted LIBOR. Notwithstanding any other provision of this Agreement or the any Note, if prior to the commencement of any Interest Period, Period the Bank shall determine in good faith that deposits in the amount of any LIBOR Portion scheduled to be outstanding during such Interest Period are not readily available to the Bank in the relevant market or, by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining Adjusted LIBOR, then the Bank shall promptly give notice thereof to the Company and the obligations obligation of the Bank to create create, continue or effect by conversion any such Fixed Rate LIBOR Portion in such amount and for such Interest Period shall terminate be suspended until deposits in such amount and for the Interest Period selected by the Company relevant Borrower shall again be readily available in the relevant market and adequate and reasonable means exist for ascertaining Adjusted LIBOR.

Appears in 1 contract

Samples: Credit Agreement (Midwest Banc Holdings Inc)

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Unavailability of Deposits or Inability to Ascertain Adjusted LIBOR. Notwithstanding any other provision of this Agreement or the any Note, if the Bank shall determine prior to the commencement of any Interest Period, the Bank shall determine Period that deposits in the amount of any LIBOR Portion scheduled to be outstanding during such Interest Period are not readily available to the Bank in the relevant market or, by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining Adjusted LIBOR, then the Bank shall promptly give notice thereof to the Company Borrowers and the obligations of the Bank to create create, continue or effect by conversion any such Fixed Rate LIBOR Portion in such amount and for such Interest Period shall terminate be suspended until deposits in such amount and for the Interest Period selected by the Company Borrowers shall again be readily available in the relevant market and adequate and reasonable means exist for ascertaining Adjusted LIBOR.

Appears in 1 contract

Samples: Credit Agreement (Hyco International, Inc.)

Unavailability of Deposits or Inability to Ascertain Adjusted LIBOR. Notwithstanding any other provision of this Agreement or of the Note, if prior to the commencement of any Interest Period, the Bank shall determine that deposits in the amount of any LIBOR Portion scheduled to be outstanding during such Interest Period are not readily available to the Bank in the relevant market or, by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining Adjusted LIBOR, then the Bank shall promptly give notice thereof to the Company and the obligations of the Bank to create create, continue or effect by conversion any such Fixed Rate Portion LIBOR Portion, in such amount and for such Interest Period shall terminate until deposits in such amount and for the Interest Period selected by the Company shall again be readily available in the relevant market and adequate and reasonable means exist for ascertaining Adjusted LIBOR.

Appears in 1 contract

Samples: Credit Agreement (Wells Gardner Electronics Corp)

Unavailability of Deposits or Inability to Ascertain Adjusted LIBOR. Notwithstanding any other provision of this Agreement or the any Note, if prior to the commencement of any Interest Period, the Bank shall determine that deposits in the amount of any LIBOR Portion scheduled to be outstanding during such Interest Period are not readily available to the Bank in the relevant market or, by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining Adjusted LIBOR, then the Bank shall promptly give notice thereof to the Company and the obligations of the Bank to create create, continue or effect by conversion any such Fixed Rate LIBOR Portion in such amount and for such Interest Period shall terminate until deposits in such amount and for the Interest Period selected by the Company shall again be readily available in the relevant market and adequate and reasonable means exist for ascertaining Adjusted LIBOR.

Appears in 1 contract

Samples: Champion Financial Corp /Md/

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