Alternative Rates. Lender may notify Borrower if the BBA LIBOR Daily Floating Rate is not available for any reason, or if Lender reasonably determines that no adequate basis exists for determining the BBA LIBOR Daily Floating Rate, or that the BBA LIBOR Daily Floating Rate will not adequately and fairly reflect the cost to Lender of funding the Loan, or that any applicable Law or regulation or compliance therewith by Lender prohibits or restricts or makes impossible the charging of interest based on the BBA LIBOR Daily Floating Rate. If Lender so notifies Borrower, then interest shall accrue and be payable on the unpaid principal balance of this Note at a fluctuating rate of interest equal to the Prime Rate of Lender plus one hundred fifty (150) basis points per annum, from the date of such notification by Xxxxxx until Lender notifies Borrower that the circumstances giving rise to such suspension no longer exist, or until the Maturity Date of this Note (whether by acceleration, declaration, extension or otherwise), whichever is earlier to occur. The term “Prime Rate” means, on any day, the rate of interest per annum then most recently established by Lender as its “prime rate.” Any such rate is a general reference rate of interest, may not be related to any other rate, and may not be the lowest or best rate actually charged by Lender to any customer or a favored rate and may not correspond with future increases or decreases in interest rates charged by other lenders or market rates in general, and Lender may make various business or other loans at rates of interest having no relationship to such rate. Any change in the Prime Rate shall take effect at the opening of business on the day specified in the public announcement of a change in Lender’s Prime Rate. If Lender (including any subsequent holder of this Note) ceases to exist or to establish or publish a prime rate from which the Prime Rate is then determined, the applicable variable rate from which the Prime Rate is determined thereafter shall be instead the prime rate reported in The Wall Street Journal (or the average prime rate if a high and a low prime rate are therein reported), and the Prime Rate shall change without notice with each change in such prime rate as of the date such change is reported.
Alternative Rates. If the BBA LIBOR Daily Floating Rate or the Eurodollar Rate is not available for any reason, then such rate will be determined by such alternate method as reasonably selected by Agent. If Agent determines that no adequate basis exists for determining the BBA LIBOR Daily Floating Rate or the Eurodollar Rate or that the BBA LIBOR Daily Floating Rate or the Eurodollar Rate will not adequately and fairly reflect the cost to Agent of funding the Loan, or that any applicable Law or regulation or compliance therewith by Agent prohibits or restricts or makes impossible the charging of interest based on the BBA LIBOR Daily Floating Rate or the Eurodollar Rate and Agent so notifies Borrower, then until Agent notifies Borrower that the circumstances giving rise to such suspension no longer exist, interest shall accrue and be payable on the unpaid principal balance of the Loan from the date Agent so notifies Borrower until the Maturity Date (whether by acceleration, declaration, extension or otherwise) at a fluctuating rate of interest equal to the Federal Funds Rate plus two hundred fifty (250) basis points per annum.
Alternative Rates. 42 11. TAXES..............................................................43 12.
Alternative Rates. 10.1 Lack of communication of a rate by a Reference Bank If EURIBOR must be calculated with reference to the Reference Bank, but the Reference Bank fails to communicate a rate by 12:00 noon (Milan time) in a Rate- Fixing Day, the applicable EURIBOR will be calculated based on the indications below, based on the rates of the other Reference Banks.
Alternative Rates. If the Interest Rate has to be established with reference to the interbank rates quoted by the Reference Banks and no Reference Bank or just one of them supplies such quotation within 3:30 p.m. of the Determination Date, the Agent Bank shall immediately inform the Beneficiary that the provisions of this article are operating; and if the competent monetary authority has fixed the applicable reference rate replacing EURIBOR peremptorily, such reference rate shall be applied. In case such determination by competent monetary authority is missing, the Agent Bank shall communicate this together with the report under the previous paragraph of this article, and:
Alternative Rates. Lender may notify Borrower if the BBA LIBOR Daily Floating Rate is not available for any reason, or if Lender reasonably determines that no adequate basis exists for determining the BBA LIBOR Daily Floating Rate, or that the BBA LIBOR Daily Floating Rate will not adequately and fairly reflect the cost to Lender of
Alternative Rates. Without prejudice to the provisions of Article 9.3 (Replacement of the Euribor) below, upon the occurrence of one of the events provided for by Article 9.1 (Non-listing by a Reference Bank), at the request of the Lending Bank or the Borrower, the Lending Bank and the Borrower shall conduct negotiations for a period not exceeding 30 (thirty) consecutive calendar days to reach an agreement on the criteria for determining an alternative benchmark rate. Such alternative benchmark rate shall be binding on the Parties provided that the Lending Bank has given its consent thereto. It remains understood that, during the negotiations referred to in this Article 9.2 and until a binding agreement is reached between the Parties, the applicable Interest Rate shall be determined pursuant to Article 9.1 (Non-listing by a Reference Bank) of this Agreement.
Alternative Rates. If the situation indicated in Art. 10.1 were to arise (Absence of the Euribor quotation), at the request of the Financing Bank or the Recipient the Financing Bank and the Recipient may initiate negotiations for a period not exceeding 30 (thirty) consecutive calendar days aimed at reaching an agreement regarding criteria for the determination of a further alternative reference rate with respect to the relative Utilization. It is understood that, pending completion of the negotiation referred to in this article (Art. 10.2) and until the moment when a binding agreement has been reached between the Parties, the Interest Rate applicable to the relative Utilization will be determined pursuant to Art. 10.1 (Absence of the Eurobor quotation) of this Agreement.
Alternative Rates. If Lender determines that no adequate basis exists for determining the LIBOR Rate or that any applicable Law or regulation or compliance therewith by Lender prohibits or restricts or makes impossible the charging of interest based on the LIBOR Rate and Lender so notifies Borrower, then until Lender notifies Borrower that the circumstances giving rise to such suspension no longer exist, (i) the obligation of Lender to permit such LIBOR Rate shall be suspended and (ii) all existing affected LIBOR Rate Principal shall automatically and immediately become Base Rate Principal.
