INABILITY TO DETERMINE definition
INABILITY TO DETERMINE. INTEREST RATE OR CREATE BANKERS' ACCEPTANCES.
(a) If prior to the first day of any Interest Period, the Administrative Agent shall have determined in good faith (which determination shall be conclusive and binding upon the U.S. Borrower absent manifest error) that, by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining the Eurodollar Rate for such Interest Period, the Administrative Agent shall give telecopy or telephonic notice thereof to the U.S. Borrower and the U.S. Lenders as soon as practicable thereafter, and will also give prompt written notice to the U.S. Borrower when such conditions no longer exist. If such notice is given (i) any Eurodollar Loans requested to be made on the first day of such Interest Period shall be made as Base Rate Loans, (ii) any Loans that were to have been converted on the first day of such Interest Period to or continued as Eurodollar Loans shall be converted to or continued as Base Rate Loans and (iii) any outstanding Eurodollar Loans shall be converted, on the first day of such Interest Period, to Base Rate Loans. Until such notice has been withdrawn by the Agent, no further Eurodollar Loans shall be made or continued as such, nor shall the U.S. Borrower have the right to convert Base Rate Loans to Eurodollar Loans.
(b) If the Canadian Administrative Agent determines in good faith, which determination shall be final, conclusive and binding upon the Canadian Borrower absent manifest error, and notifies the Canadian Borrower and each of the Canadian Lenders that, by reason of circumstances affecting the money market (i) there is no market for Bankers' Acceptances; or (ii) the demand for Bankers' Acceptances is insufficient to allow the sale or trading of the Bankers' Acceptances created and purchased hereunder, then,
(A) the right of the Canadian Borrower to request a borrowing by way of Bankers' Acceptances shall be suspended until the Canadian Administrative Agent 55 61 determines in good faith that the circumstances causing such suspension no longer exist and the Canadian Administrative Agent so notifies the Canadian Borrower; and
(B) any notice of requested Bankers' Acceptances which is outstanding shall be canceled and the Bankers' Acceptance requested therein shall not be made.
(C) The Canadian Administrative Agent shall promptly notify the Canadian Borrower of the suspension of the Canadian Borrower's right to request a Bankers' Acceptance and of the te...
INABILITY TO DETERMINE. Eurodollar Rate (Reserve Adjusted). If, prior to the first day of any Interest Period relating to any Funding Tranche maintained by reference to the Eurodollar Rate (Reserve Adjusted):
(1) the Administrator or the Funding Agent shall have determined (which determination in the absence of manifest error shall be conclusive and binding upon the Issuer) that, by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining the Eurodollar Rate (Reserve Adjusted) for such Interest Period; or
(2) the Administrator or the Funding Agent shall have received notice from an Affected Party that the Eurodollar Rate (Reserve Adjusted) determined or to be determined for such Interest Period will not adequately and fairly reflect the cost to such Affected Party (as conclusively certified by such Person) of purchasing or maintaining their affected portions of such Funding Tranches during such Interest Period; then, in either such event, the Administrator or the Funding Agent shall give telecopy or telephonic notice thereof (confirmed in writing) to the Issuer and the Administrator or Funding Agent, as applicable as soon as practicable (but, in any event, within thirty (30) days after such determination or notice, as applicable) thereafter. Until such notice has been withdrawn by the Administrator or the Funding Agent, as applicable, no further Funding Tranches by the related Conduit Purchaser or Committed Purchaser shall be funded or maintained at the Eurodollar Rate (Reserve Adjusted). The Administrator and the Funding Agent, as applicable, agrees to withdraw any such notice as soon as reasonably practicable after such Person is notified of a change in circumstances which makes such notice inapplicable.
INABILITY TO DETERMINE. Rates If the Majority Banks determine that for any reason adequate and reasonable means do not exist for determining the Offshore Rate for any requested Interest Period with respect to a proposed Offshore Rate Loan, or that the Offshore Rate applicable pursuant to subsection 2.08(a) for any requested Interest Period with respect to a proposed Offshore Rate Loan does not adequately and fairly reflect the cost to the Banks of funding such Loan, the Agent will promptly so notify the Company and each Bank. Thereafter, the obligation of the Banks to make or maintain Offshore Rate Loans, as the case may be, hereunder shall be suspended until the Agent, upon the instruction of the Majority Banks, revokes such notice in writing. Upon receipt of such notice, the Company may revoke any Notice of Borrowing or Notice of Conversion/Continuation then submitted by it. If the Company does not revoke such Notice, the Banks shall make, convert or continue the Loans, as proposed by the Company, in the amount specified in the applicable notice submitted by the Company, but such Loans shall be made, converted or continued as Base Rate Loans instead of Offshore Rate Loans. Invoices of BanksAny Bank claiming reimbursement or compensation under this Article III shall deliver to the Company (with a copy to the Agent) a written invoice of all such amounts as may be due together with a reasonably detailed calculation and explanation of the amount payable to the Bank hereunder, which amount shall be paid by the Company within 30 days of the date of invoice provided, however, that the Company shall have no liability for any amounts attributable to a period more than three months prior to invoice date in respect thereof. SurvivalThe agreements and obligations of the Company in this Article III shall survive the payment of all other Obligations. Replacement Bank (a) If any Bank demands compensation under Section 3.01, 3.02 or 3.03, the Company may, subject to the provisions of subsections (b) and (c) of this Section 3.08, remove such Bank ("Removed Bank") and designate another bank acceptable to the Agent, or, if BofA is the Removed Bank, acceptable to the Banks ("Replacement Bank"), to purchase the Removed Bank's share of the Credit, and to assume all of the Removed Bank's obligations under this Agreement. Each substitution under subsection 3.08(a) shall be made upon the irrevocable written notice of the Company received by Agent and Removed Bank at least ten days prior to the date the...
Examples of INABILITY TO DETERMINE in a sentence
INABILITY TO DETERMINE APPLICABLE INTEREST RATE......................................
INABILITY TO DETERMINE RATES...................................32 SECTION 3.06.
INABILITY TO DETERMINE INTEREST RATE...........................................................17 2.11.
INABILITY TO DETERMINE EURODOLLAR RATE......................19 SS.4.11.
INABILITY TO DETERMINE INTEREST RATES......................................................28 SECTION 2.17.
All of the costs of the foregoing may be included in Expenses, except to the extent they are specifically excluded in Section 4.1. By taking possession of the Premises, Tenant accepts them as being in good order, condition and repair and in the condition in which Landlord is obligated to deliver them, except as otherwise set forth in the Lease.
INABILITY TO DETERMINE INTEREST RATE.............................................................23 2.14.
INCREASED COSTS; ILLEGALITY; INABILITY TO DETERMINE RATES; TAXES 6267 Section 3.1. Requirements of Law 6267 Section 3.2. Taxes 6368 Section 3.3. Funding Losses 6873 Section 3.4.
INABILITY TO DETERMINE INTEREST RATES.........................................32 SECTION 2.18.
INABILITY TO DETERMINE EURODOLLAR RATE......................28 ss.4.11.