Market Failure. Notwithstanding any other provision in this Agreement, if the Agent determines that: (a) quotations of interest rates for the relevant deposits referred to in the definition of "LIBOR" are not being provided in the relevant amounts, or maturities for purposes of determining the rate of interest referred to in the definition of "LIBOR" or (b) the relevant rates of interest referred to in the definition of "LIBOR" which are used as the basis to determine the rate of interest for LIBOR Tranches are not likely to adequately cover the cost to any Bank of making or maintaining such Bank's ratable share of any LIBOR Tranche, then if the Agent so notifies the Borrower, the commitment of the Banks to make any Borrowing comprised of LIBOR Tranches shall be suspended until such condition has passed, all LIBOR Tranches shall be converted to Prime Rate Tranches as of the end of each applicable Interest Period or earlier if necessary, and all subsequent requests for LIBOR Tranches shall be deemed to be requests for Prime Rate Tranches.
Market Failure. 34 2.10 Payment Procedures and Computations.......................34 2.11 Taxes.....................................................36
Market Failure. First, the market does not always work properly, which may mean that environmental goods are priced wrongly. This is usually due to flaws in the way in which the market is set up in the first place. For instance, there may be informational difficulties in setting the price of such goods where this must be set centrally, as with environmental taxes; or, in a market for tradable permits, where the market is flooded with permits; or where there are insufficient players on the market. In addition, the market structure is simply not suitable for certain environmental aims, with the preservation of the biodiversity of protected or endangered species being a good example. Short of giving property rights over certain species or habitats to individual legal or natural persons (which many people would find unacceptable for such resources), there are few ways in which the costs of damage to such unique resources can properly be valued and “charged” to those who damage them.70 Xxxxxxxx has termed this the idea of “
Market Failure. 25 2.9 Payment Procedures and Computations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 2.10 Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
Market Failure. 50 17.3. Illegality.........................................................................................50 17.4. Compensation.......................................................................................50 17.5. Treatment of Affected Loans........................................................................51 17.6. Taxes..............................................................................................51 17.6.1. Gross-Up........................................................................................51 17.6.2. Lenders' Undertakings...........................................................................52 17.6.3. Survival of Borrower's Obligations..............................................................53 17.7. Usury..............................................................................................53 18. General.................................................................................................53 18.1. Lenders' Right to Cure.............................................................................53 18.2. Rights Not Exclusive...............................................................................54 18.3. Survival of Agreements.............................................................................54 18.4. Assignments........................................................................................54 18.4.1. Permitted Assignments...........................................................................54 18.4.2. Consequences and Effect of Assignments..........................................................54 18.4.3.
Market Failure. 29 2.10 Payment Procedures and Computations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 2.11 Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 2.12 Change of Lending Office. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
Market Failure. Notwithstanding any other provision in this Agreement, if the Administrative Agent determines (on its own behalf or after having been notified thereof by Banks constituting Majority Banks) that: (a) quotations of interest rates for the relevant deposits referred to in the definition of "LIBOR" are not being provided in the relevant amounts, or maturities for purposes of determining the rate of interest referred to in the definition of "LIBOR" or (b) the relevant rates of interest referred to in the definition of "LIBOR" which are used as the basis to determine the rate of interest for LIBOR Tranches will not adequately cover the cost to any Bank of making or maintaining such Bank's ratable share of any LIBOR Tranche, then the Administrative Agent shall notify the Borrower that the Administrative Agent and the Banks' commitment to create LIBOR Tranches shall be suspended until such condition has passed, all LIBOR Tranches shall be converted to the Prime Rate Tranche as of the end of each applicable Interest Period or earlier if necessary, and all subsequent requests for LIBOR Tranches shall be deemed to be requests for Prime Rate Borrowings or continuations and conversions of the Prime Rate Tranche, as applicable with respect to such Bank.
Market Failure. The market failure that the Science Skills Academy seeks to address is the lack of a suffi- ciently skilled workforce for the SYEMD employers that are located or could locate itnhe Highlands and Islands. The Skills Investment Plan for the Highlands and Islands anticipates growth in employment, especially in engineering, life sciences and digital media. The sec- tors shown in the table below are not only expected to grow in the Highlands and Islands but elsewhere in Scotland and the UK as well as globally. Sector Current employment Potential jobs growth Location Life sciences 1,800 Up to 1,000 Inverness; Moray; Outer Hebrides Energy 13,000 3,000 – 5,000 Ardersier; Argyll; Ar- nish; Inverness; Kishorn; Nigg; Orkney; Shetland Creative industries (in- cluding digital) 4,200 250 Across H&I In addition to the jobs created directly, it is estimated that every new engineering job creates two more jobs and that every £1 Gross Value Added (GVA) generated in engineering sec- tors generates £1.45 elsewhere in the economy2. If the skilled workforce isn’t present to meet this demand, economic growth in the Highlands and Islands will be constrained. The market failure that the introduction of the SSA will address is to increase the number of people available to meet the STEMD skills needs. in the Highlands and Islands. The project will increase the number of pupils that have qualifications that allow entry to FE/HE and em- ployment in STEMD related disciplines. It will engage at all levels of a young person’s jour- ney through education, working with partners to build capability and confidence of Primary School teachers to deliver effective STEMD education, inspiring P6-S2 learners in STEMD (before they make curricular options choices), helping to build the capacity of all schools to deliver high quality STEMD in the senior phase and raising family science capital. 2 xxxx://xxx.xxxxxxxxxxxxx.xxx/_resources/documents/EngineeringUK-Report-2016-Full-Report_live.pdf The STEMEC report and The Scottish Government STEM strategy consultation The Scottish Government recognizes the importance of addressing the market failure out- lined above. The final report of the Science, Technology, Engineering and Mathematics Ed- ucation Committee was presented to the Scottish Government in September 20163. It con- tains 43 recommendations based around Administration of Education, Women in STEM, Teacher Numbers, Initial Teacher Education, Primary Science, Career Long Professional Development ...
