Examples of Unavailability Period in a sentence
During any Benchmark Unavailability Period, all calculations of interest by reference to a LIBO Rate hereunder shall instead be made by reference to the Alternate Base Rate.
Periods of Curtailment shall not be included in the Allowed Grid Unavailability Period.
Where any System Event commencing in one Contract Year carries over into the following Contract Year (the "Second Contract Year"), the period of time for which such System Event endures in the Second Contract Year shall be included in the calculation of the Allowed Grid Unavailability Period for all System Events commencing in and enduring in the Second Contract Year.
The Administrative Agent will promptly notify the Borrower and the Lenders of (A) any occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date and Benchmark Transition Start Date, (B) the implementation of any Benchmark Replacement, (C) the effectiveness of any Benchmark Replacement Conforming Changes and (D) the commencement or conclusion of any Benchmark Unavailability Period.
During any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate.
The Purchaser will promptly notify the County of (i) any occurrence of a Benchmark Transition Event or a Term SOFR Transition Event, as applicable, and its related Benchmark Replacement Date, (ii) the implementation of any Benchmark Replacement, (iii) the effectiveness of any Benchmark Replacement Conforming Changes, (iv) the removal or reinstatement of any tenor of a Benchmark pursuant to Section 3.03(d) below and (v) the commencement or conclusion of any Benchmark Unavailability Period.
If the Allowed Grid Unavailability Period is exceeded in any Contract Year, then Deemed Energy Payments shall become payable and shall be calculated for the duration of additional System Events in such Contract Year and invoiced in accordance with the principles set out in clause 9 (Invoicing).
The Purchaser will promptly notify the County of (i) the effectiveness of any Benchmark Replacement Conforming Changes and (ii) the commencement of any Benchmark Unavailability Period.
During a Benchmark Unavailability Period, the Benchmark shall be the rate of interest per annum most recently established by Purchaser in its sole discretion as its “prime rate.” The parties hereto acknowledge that the rate announced by the Purchaser as its prime rate is an index or base rate and shall not necessarily be publically announced or be its lowest or best rate charged to its customers or other banks.
During any Benchmark Unavailability Period, all then-outstanding LIBOR Market Index Rate Advances shall automatically, on the day of such notice, be converted into Floating Rate Advances and any Swingline Loans shall be made as Floating Rate Advances.