Common use of Inability to Determine Rate Clause in Contracts

Inability to Determine Rate. If the Administrative Agent --------------------------- (which determination shall be conclusive and binding upon the Companies, provided such determination is made on a reasonable basis) that by reason of circumstances affecting the London interbank eurodollar market adequate and reasonable means do not exist for ascertaining the Eurodollar Rate for any Interest Period, the Administrative Agent shall forthwith give facsimile notice of such determination, confirmed in writing, to each Lender affected thereby and to the Companies. If such notice is given: (1) no Loan may be funded as a Eurodollar Loan, (2) any Loan that was to have been converted to a Eurodollar Loan shall, subject to the provisions hereof, be continued as a Corporate Rate Loan and (3) any outstanding Eurodollar Loan shall be converted on the last day of the then current Interest Period with respect thereto to a Corporate Rate Loan. Until such notice has been withdrawn by the Administrative Agent, the Companies shall not have the right to convert a Loan to a Eurodollar Loan or fund any Loan as a Eurodollar Loan or to continue a Eurodollar Loan as such. The Administrative Agent shall withdraw such notice in the event that the circumstances giving rise thereto no longer exist and that adequate and reasonable means exist for ascertaining the Eurodollar Rate for the Interest Period requested by the Companies, and following withdrawal of such notice by the Administrative Agent, the Companies shall have the right to fund any Loan as a Eurodollar Loan or convert a Loan to a Eurodollar Loan or to continue a Eurodollar Loan in accordance with the terms and conditions of this Agreement.

Appears in 2 contracts

Samples: Credit Agreement (CWM Mortgage Holdings Inc), Credit Agreement (CWM Mortgage Holdings Inc)

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Inability to Determine Rate. If In the event that the Administrative Agent --------------------------- shall have reasonably determined (which determination shall be conclusive and binding upon the Companies, provided such determination is made on a reasonable basisCompany) that by reason of circumstances affecting the London interbank eurodollar market adequate and reasonable means do not exist for ascertaining the Eurodollar LIBO Rate for any Interest Period, the Administrative Agent shall forthwith give facsimile telephonic notice of such determination, confirmed in writing, determination to each affected Lender affected thereby and to the CompaniesCompany. If such notice is given: (1) no Revolving Loan may be funded as a Eurodollar LIBO Rate Loan, (2) any Revolving Loan that was to have been converted to a Eurodollar LIBO Rate Loan shall, subject to the provisions hereof, be continued as a Corporate Rate the type of Revolving Loan it is currently, and (3) any Revolving Loan outstanding Eurodollar as a LIBO Rate Loan shall be converted converted, on the last day of the then current Interest Period with respect thereto applicable thereto, to a Corporate Base Rate Loan. Until such notice has been withdrawn by the Administrative Agent, the Companies Company shall not have the right to convert a any Revolving Loan to a Eurodollar LIBO Rate Loan or to fund any Revolving Loan as a Eurodollar LIBO Rate Loan or to continue a Eurodollar LIBO Rate Loan as such. The Administrative Agent shall withdraw such notice in the event that the circumstances giving rise thereto no longer exist pertain and that adequate and reasonable means exist for ascertaining the Eurodollar LIBO Rate for the Interest Period requested by the CompaniesCompany, and and, following withdrawal of such notice by the Administrative Agent, the Companies Company shall have the right to fund have any Revolving Loan funded as a Eurodollar LIBO Rate Loan or to convert a any Revolving Loan to a Eurodollar LIBO Rate Loan or and to continue a Eurodollar any LIBO Rate Loan as such in accordance with the terms and conditions of this Credit Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Check Mart of New Mexico Inc), Credit Agreement (Dollar Financial Corp)

Inability to Determine Rate. If the Administrative Agent --------------------------- determines (which determination shall be conclusive and binding upon the Companies, provided such determination is made on a reasonable basis) that by reason of circumstances affecting the London interbank eurodollar market adequate and reasonable means do not exist for ascertaining the Eurodollar Rate for any Interest Period, the Administrative Agent shall forthwith give facsimile notice of such determination, confirmed in writing, to each Lender affected thereby and to the Companies. If such notice is given: (1) no Loan may be funded as a Eurodollar Loan, (2) any Loan that was to have been converted to a Eurodollar Loan shall, subject to the provisions hereof, be continued as a Corporate Rate Loan and (3) any outstanding Eurodollar Loan shall be converted on the last day of the then current Interest Period with respect thereto to a Corporate Rate Loan. Until such notice has been withdrawn by the Administrative Agent, the Companies shall not have the right to convert a Loan to a Eurodollar Loan or fund any Loan as a Eurodollar Loan or to continue a Eurodollar Loan as such. The Administrative Agent shall withdraw such notice in the event that the circumstances giving rise thereto no longer exist and that adequate and reasonable means exist for ascertaining the Eurodollar Rate for the Interest Period requested by the Companies, and following withdrawal of such notice by the Administrative Agent, the Companies shall have the right to fund any Loan as a Eurodollar Loan or convert a Loan to a Eurodollar Loan or to continue a Eurodollar Loan in accordance with the terms and conditions of this Agreement.

Appears in 2 contracts

Samples: Credit Agreement (CWM Mortgage Holdings Inc), Credit Agreement (CWM Mortgage Holdings Inc)

Inability to Determine Rate. If the Administrative Agent --------------------------- determines (which determination shall be conclusive and binding upon the CompaniesCompany, provided such determination is made on a reasonable basis) that by reason of circumstances affecting the London interbank eurodollar market adequate and reasonable means do not exist for ascertaining the Eurodollar Rate for any Interest Period, the Administrative Agent shall forthwith give facsimile notice of such determination, confirmed in writing, to each Lender affected thereby and to the CompaniesCompany. If such notice is given: (1) no Loan may be funded as a Eurodollar Rate Loan, (2) any Loan that was to have been converted to a Eurodollar Rate Loan shall, subject to the provisions hereof, be continued as a Corporate an Alternate Rate Loan and (3) any outstanding Eurodollar Rate Loan shall be converted on the last day of the then current Interest Period with respect thereto to a Corporate an Alternate Rate Loan. Until such notice has been withdrawn by the Administrative Agent, the Companies Company shall not have the right to convert a Loan to a Eurodollar Rate Loan or fund any Loan as a Eurodollar Rate Loan or to continue a Eurodollar Rate Loan as such. The Administrative Agent shall withdraw such notice in the event that the circumstances giving rise thereto no longer exist and that adequate and reasonable means exist for ascertaining the Eurodollar Rate for the Interest Period requested by the CompaniesRate, and following withdrawal of such notice by the Administrative Agent, the Companies Company shall have the right to fund any Loan as a Eurodollar Rate Loan or convert a Loan to a Eurodollar Rate Loan or to continue a Eurodollar Rate Loan in accordance with the terms and conditions of this Agreement.

Appears in 2 contracts

Samples: Mortgage Loan Warehousing Agreement (Emergent Group Inc), Mortgage Loan Warehousing Agreement (Emergent Group Inc)

Inability to Determine Rate. If In the event that the Administrative Agent --------------------------- shall have reasonably determined (which determination shall be conclusive and binding upon the Companies, provided such determination is made on a reasonable basisBorrower) that by reason of circumstances affecting the London interbank eurodollar market adequate and reasonable means do not exist for ascertaining the Eurodollar LIBO Rate for any Interest Period, the Administrative Agent shall forthwith give facsimile telephonic notice of such determination, confirmed in writing, determination to each Lender affected thereby and to the CompaniesBorrower. If such notice is given: (1) no portion of the Term Loan may be funded as a Eurodollar LIBO Rate Loan, (2) any Base Rate Loan that was to have been converted to a Eurodollar LIBO Rate Loan shall, subject to the provisions hereof, be continued as a Corporate Base Rate Loan Loan, and (3) any outstanding Eurodollar LIBO Rate Loan shall be converted converted, on the last day of the then current Interest Period with respect thereto applicable thereto, to a Corporate Base Rate Loan. Until such notice has been withdrawn by the Administrative Agent, the Companies Borrower shall not have the right to convert a any Base Rate Loan to a Eurodollar Loan or fund any Loan as a Eurodollar LIBO Rate Loan or to continue a Eurodollar LIBO Rate Loan as such. The Administrative Agent shall withdraw such notice in the event that the circumstances giving rise thereto no longer exist pertain and that adequate and reasonable means exist for ascertaining the Eurodollar LIBO Rate for the Interest Period requested by the CompaniesBorrower, and and, following withdrawal of such notice by the Administrative Agent, the Companies Borrower shall have the right to fund convert any Loan as a Eurodollar Loan or convert a Base Rate Loan to a Eurodollar LIBO Rate Loan or and to continue a Eurodollar any LIBO Rate Loan as such in accordance with the terms and conditions of this Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Macerich Co), Credit Agreement (Macerich Co)

Inability to Determine Rate. If In the event that the Administrative Agent --------------------------- shall have reasonably determined (which determination shall be conclusive and binding upon the Companies, provided such determination is made on a reasonable basisBorrowers) that by reason of circumstances affecting the London interbank eurodollar market adequate and reasonable means do not exist for ascertaining the Eurodollar LIBO Rate for any Interest Period, the Administrative Agent shall forthwith give facsimile telephonic notice of such determination, confirmed in writing, determination to each Lender affected thereby and to the CompaniesBorrowers. If such notice is given: (1) no portion of the Term Loan may be funded as a Eurodollar LIBO Rate Loan, (2) any Base Rate Loan that was to have been converted to a Eurodollar LIBO Rate Loan shall, subject to the provisions hereof, be continued as a Corporate Base Rate Loan Loan, and (3) any outstanding Eurodollar LIBO Rate Loan shall be converted converted, on the last day of the then current Interest Period with respect thereto applicable thereto, to a Corporate Base Rate Loan. Until such notice has been withdrawn by the Administrative Agent, the Companies Borrowers shall not have the right to convert a any Base Rate Loan to a Eurodollar Loan or fund any Loan as a Eurodollar LIBO Rate Loan or to continue a Eurodollar LIBO Rate Loan as such. The Administrative Agent shall withdraw such notice in the event that the circumstances giving rise thereto no longer exist pertain and that adequate and reasonable means exist for ascertaining the Eurodollar LIBO Rate for the Interest Period requested by the CompaniesBorrowers, and and, following withdrawal of such notice by the Administrative Agent, the Companies Borrowers shall have the right to fund convert any Loan as a Eurodollar Loan or convert a Base Rate Loan to a Eurodollar LIBO Rate Loan or and to continue a Eurodollar any LIBO Rate Loan as such in accordance with the terms and conditions of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Macerich Co)

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Inability to Determine Rate. If In the Administrative event that the Agent --------------------------- shall have reasonably determined (which determination shall be conclusive and binding upon the Companies, provided such determination is made on a reasonable basisCompany) that by reason of circumstances affecting the London interbank eurodollar market adequate and reasonable means do not exist for ascertaining the Eurodollar Rate for any Interest Period, the Administrative Agent shall forthwith give facsimile notice of such determination, confirmed in writing, to each Lender affected thereby and to the CompaniesCompany. If such notice is given: (1) no Revolving Loan may be funded as a Eurodollar Rate Loan, (2) any Floating Rate Loan that was to have been converted to a Eurodollar Rate Loan shall, subject to the provisions hereof, be continued as a Corporate Floating Rate Loan Loan, and (3) any outstanding Eurodollar Rate Loan shall be converted converted, on the last day of the then current Eurodollar Interest Period with respect thereto applicable thereto, to a Corporate Floating Rate Loan. Until such notice has been withdrawn by the Administrative Agent, the Companies Company shall not have the right to convert a Floating Rate Loan to a Eurodollar Rate Loan or to fund any Revolving Loan as a Eurodollar Rate Loan or to continue a Eurodollar Rate Loan as such. The Administrative Agent shall withdraw such notice in the event that the circumstances giving rise thereto no longer exist pertain and that adequate and reasonable means exist for ascertaining the Eurodollar Rate for the Interest Period requested by the CompaniesCompany, and following withdrawal of such notice by the Administrative Agent, the Companies Company shall have the right to fund any Loan have Revolving Loans funded as a Eurodollar Loan or Rate Loans, to convert a Loan Floating Rate Loans to a Eurodollar Loan or Rate Loans and to continue a Eurodollar Loan Rate Loans as such in accordance with the terms and conditions of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Fidelity National Financial Inc /De/)

Inability to Determine Rate. If In the event that the --------------------------- Administrative Agent --------------------------- shall have reasonably determined (which determination shall be conclusive and binding upon the Companies, provided such determination is made on a reasonable basisCompany) that by reason of circumstances affecting the London interbank eurodollar market adequate and reasonable means do not exist for ascertaining the Eurodollar Rate for any Eurodollar Interest Period, the Administrative Agent shall forthwith give facsimile telex notice of such determination, confirmed in writing, to each affected Lender affected thereby and to the CompaniesCompany. If such notice is given: (1) no Loan may be funded as a Eurodollar Loan, (2) any Federal Funds Rate Loan that was to have been converted to a Eurodollar Loan shall, subject to the provisions hereof, be continued as a Corporate Federal Funds Rate Loan and (3) any outstanding Eurodollar Loan shall be converted converted, on the last day of the then current Eurodollar Interest Period with respect thereto applicable thereto, to a Corporate Federal Funds Rate Loan. Until such notice has been withdrawn by the Administrative Agent, the Companies Company shall not have the right to convert a Federal Funds Rate Loan to a Eurodollar Loan or to fund any Loan as a Eurodollar Loan or to continue a Eurodollar Loan as suchLoan. The Administrative Agent shall withdraw such notice in the event that the circumstances giving rise thereto no longer exist pertain and that adequate and reasonable means exist for ascertaining the Eurodollar Rate for the Eurodollar Interest Period requested by the CompaniesCompany, and following withdrawal of such notice by the Administrative Agent, the Companies Company shall have the right to fund have any Tranche A Loan funded as a Eurodollar Loan or convert a Federal Funds Rate Loan to a Eurodollar Loan or to continue a Eurodollar Loan in accordance with the terms and conditions of this Agreement.

Appears in 1 contract

Samples: Mortgage Loan Warehousing Agreement (Headlands Mortgage Co)

Inability to Determine Rate. If In the event that the --------------------------- Administrative Agent --------------------------- shall have reasonably determined (which determination shall be conclusive and binding upon the Companies, provided such determination is made on a reasonable basisCompany) that by reason of circumstances affecting the London interbank eurodollar market adequate and reasonable means do not exist for ascertaining the Eurodollar LIBO Rate for any Interest Period, the Administrative Agent shall forthwith give facsimile telephonic notice of such determination, confirmed in writing, determination to each affected Lender affected thereby and to the CompaniesCompany. If such notice is given: (1) no Loan may be funded as a Eurodollar LIBO Rate Loan, (2) any Revolving Loan or portion of Term Loan A Term Loan B Advance that was to have been converted to a Eurodollar LIBO Rate Loan shall, subject to the provisions hereof, be continued as a Corporate Rate the type of Loan it is currently, and (3) any outstanding Eurodollar as a LIBO Rate Loan shall be converted converted, on the last day of the then current Interest Period with respect thereto applicable thereto, to a Corporate Base Rate Loan. Until such notice has been withdrawn by the Administrative Agent, the Companies Company shall not have the right to convert a any Loan to a Eurodollar LIBO Rate Loan or to fund any Loan as a Eurodollar LIBO Rate Loan or to continue a Eurodollar LIBO Rate Loan as such. The Administrative Agent shall withdraw such notice in the event that the circumstances giving rise thereto no longer exist pertain and that adequate and reasonable means exist for ascertaining the Eurodollar LIBO Rate for the Interest Period requested by the CompaniesCompany, and and, following withdrawal of such notice by the Administrative Agent, the Companies Company shall have the right to fund have any Loan funded as a Eurodollar LIBO Rate Loan or to convert a any Loan to a Eurodollar LIBO Rate Loan or and to continue a Eurodollar any LIBO Rate Loan as such in accordance with the terms and conditions of this Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (Dollar Financial Group Inc)

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