Example ContractsClausesinability to determine interest rateVariants
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Inability to Determine Rates. If in connection with any request for a SOFR Loan, a conversion to a SOFR Loan, or a continuation of a Term SOFR Loan, # the Administrative Agent determines that (which determination shall be conclusive absent manifest error) that # no Successor Rate has been determined in accordance with [Section 3.03(b)], and the circumstances under or the Scheduled Unavailability Date has occurred, or # adequate and reasonable means do not otherwise exist for determining Daily Simple SOFR or Term SOFR for any determination date(s) or requested Interest Period, as applicable, with respect to a proposed SOFR Loan or in connection with an existing or proposed Base Rate Loan, or # the Administrative Agent or the Required determine that for any reason that Term SOFR for any requested Interest Period or determination date(s) does not adequately and fairly reflect the cost to such of funding such Loan, the Administrative Agent will promptly so notify the Borrower and each Lender.

Inability to Determine Rates. If in connection with any request for a Term SOFR Loan,Loan or a conversion of Base Rate Loans to aTerm SOFR Loan,Loans or a continuation of a Term SOFR Loan,any of such Loans, as applicable, # the Administrative Agent determines that (which determination shall be conclusive absent manifest error) that # no Successor Rate has been determined in accordance with [Section 3.03(b)2.06(c)(ii)], and the circumstances under 3.03(b)2.06(c)(ii)" data-ad-field-json='{"name":"clause (i) of Section 3.03(b)2.06(c)(ii)","canGuess":{"name":false,"type":true}}'>​ or the Scheduled Unavailability Date has occurred, or # adequate and reasonable means do not otherwise exist for determining Daily Simple SOFR or Term SOFR for any determination date(s) or requested Interest Period, as applicable,Period with respect to a proposed Term SOFR Loan or in connection with an existing or proposed Base Rate Loan, or # the Administrative Agent or the Required _Loan Parties: determine that for any reason that Term SOFR for any requested Interest Period or determination date(s)with respect to a proposed Loan does not adequately and fairly reflect the cost to such _Loan Parties: of funding such Loan, the Administrative Agent will promptly so notify the Borrower and each Lender.

Inability to Determine Rates. If in connection with any request for a Term SOFR Rate Loan, or Daily SOFR Rate Loan, or a conversion of Daily SOFR Rate Loans to aTerm SOFR Loan,Rate Loans or a continuation of a Term SOFR Loan,any of such advances, as applicable, # the Administrative Agent determines that (which determination shall be conclusive absent manifest error) that # no Successor Rate has been determined in accordance with [Section 3.03(b)], and the circumstances under [Section 3.03(b)" data-ad-field-json='{"name":"clause (i) of Section[Section 3.03(b)","canGuess":{"name":false,"type":true}}'>​(i)] or the Scheduled Unavailability Date has occurred, or # adequate and reasonable means do not otherwise exist for determining Daily Simple SOFR or Term SOFR for any determination date(s) or requested Interest Period, as applicable,Period with respect to a proposed Term SOFR Rate Loan or in connection with an existing or proposed Base Rate Loan, or # adequate and reasonable means do not otherwise exist for determining Daily Simple SOFR in connection with an existing or proposed Daily SOFR Rate Loan, or # the Administrative Agent or the Required Lenders determine that for any reason that Term SOFR for any requested Interest Period or determination date(s)Daily Simple SOFR with respect to a proposed advance does not adequately and fairly reflect the cost to such Lenders of funding such Loan,advance, the Administrative Agent will promptly so notify the Borrower and each Lender. Thereafter, # the obligation of the Lenders to make or maintain Term SOFR Rate Loans, Daily SOFR Rate Loans, or to convert Daily SOFR Rate Loans to Term SOFR Rate Loans, shall be suspended (to the extent of the affected Term SOFR Rate Loans, Daily SOFR Rate Loans, or Interest Periods), and # in the event of a determination described in the preceding sentence with respect to the Term SOFR component of the Base Rate, the utilization of the Term SOFR component in determining the Base Rate shall be suspended, in each case until the Administrative Agent (or, in the case of a determination by the Required Lenders described in [Section 3.03(b)], until the Administrative Agent upon instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, # the may revoke any pending request for a borrowing of, or conversion to, or continuation of Term SOFR Rate Loans or Daily SOFR Rate Loans (to the extent of the affected Term SOFR Rate Loans, Daily SOFR Rate Loans, or Interest Periods) or, failing that, will be deemed to have converted such request into a request for a borrowing of Base Rate Loans in the amount specified therein, # any outstanding Term SOFR Rate Loans shall be deemed to have been converted to Base Rate Loans immediately at the end of their respective applicable Interest Period, and # any outstanding Daily SOFR Rate Loans shall immediately be deemed to have been converted to Base Rate Loans.

Inability to Determine Rates. IfIf, in connection with any request for a Term SOFR Rate Loan or Daily SOFR Rate Loan, or a conversion of Daily SOFR Rate Loans to aTerm SOFR Loan,Rate Loans or a continuation of a Term SOFR Loan,any of such advances, as applicable, # the Administrative Agent determines that (which determination shall be conclusive absent manifest error) that # no Successor Rate has been determined in accordance with [Section 3.03(b)], and the circumstances under [Section 3.03(b)" data-ad-field-json='{"name":"clause (i) of Section[Section 3.03(b)","canGuess":{"name":false,"type":true}}'>​(i)] or the Scheduled Unavailability Date has occurred, or # adequate and reasonable means do not otherwise exist for determining Daily Simple SOFR or Term SOFR for any determination date(s) or requested Interest Period, as applicable,Period with respect to a proposed Term SOFR Rate Loan or in connection with an existing or proposed Base Rate Loan, or # adequate and reasonable means do not otherwise exist for determining Daily Simple SOFR in connection with an existing or proposed Daily SOFR Rate Loan, or # the Administrative Agent or the Required Lenders determine that for any reason that Term SOFR for any requested Interest Period or determination date(s)Daily Simple SOFR with respect to a proposed advance does not adequately and fairly reflect the cost to such Lenders of funding such Loan,advance, the Administrative Agent will promptly so notify the BorrowerBorrowers and each Lender. Thereafter, # the obligation of the Lenders to make or maintain Term SOFR Rate Loans, Daily SOFR Rate Loans, or to convert Daily SOFR Rate Loans to Term SOFR Rate Loans, shall be suspended (to the extent of the affected Term SOFR Rate Loans, Daily SOFR Rate Loans, or Interest Periods), and # in the event of a determination described in the preceding sentence with respect to the Term SOFR component of the Base Rate, the utilization of the Term SOFR component in determining the Base Rate shall be suspended, in each case until the Administrative Agent (or, in the case of a determination by Required Lenders described in [Section 3.03(b)], until Administrative Agent upon instruction of Required Lenders) revokes such notice. Upon receipt of such notice, # the Borrowers may revoke any pending request for a borrowing of, or conversion to, or continuation of Term SOFR Rate Loans or Daily SOFR Rate Loans (to the extent of the affected Term SOFR Rate Loans, Daily SOFR Rate Loans, or Interest Periods) or, failing that, will be deemed to have converted such request into a request for a borrowing of Base Rate Loans in the amount specified therein, # any outstanding Term SOFR Rate Loans shall be deemed to have been converted to Base Rate Loans immediately at the end of their respective applicable Interest Period, and # any outstanding Daily SOFR Rate Loans shall immediately be deemed to have been converted to Base Rate Loans.

Inability to Determine Rates. IfIf, in connection with any request for a Term SOFR Rate Loan or Daily SOFR Rate Loan, or a conversion of Daily SOFR Rate Loans to aTerm SOFR Loan,Rate Loans or a continuation of a Term SOFR Loan,any of such advances, as applicable, # the Administrative Agent determines that (which determination shall be conclusive absent manifest error) that # no Successor Rate has been determined in accordance with [Section 3.03(b)], and the circumstances under [Section 3.03(b)" data-ad-field-json='{"name":"clause (i) of Section[Section 3.03(b)","canGuess":{"name":false,"type":true}}'>​(i)] or the Scheduled Unavailability Date has occurred, or # adequate and reasonable means do not otherwise exist for determining Daily Simple SOFR or Term SOFR for any determination date(s) or requested Interest Period, as applicable,Period with respect to a proposed Term SOFR Rate Loan or in connection with an existing or proposed Base Rate Loan, or # adequate and reasonable means do not otherwise exist for determining Daily Simple SOFR in connection with an existing or proposed Daily SOFR Rate Loan, or # the Administrative Agent or the Required Lenders determine that for any reason that Term SOFR for any requested Interest Period or determination date(s)Daily Simple SOFR with respect to a proposed advance does not adequately and fairly reflect the cost to such Lenders of funding such Loan,advance, the Administrative Agent will promptly so notify the BorrowerBorrowers and each Lender. Thereafter, # the obligation of the Lenders to make or maintain Term SOFR Rate Loans, Daily SOFR Rate Loans, or to convert Daily SOFR Rate Loans to Term SOFR Rate Loans, shall be suspended (to the extent of the affected Term SOFR Rate Loans, Daily SOFR Rate Loans, or Interest Periods), and # in the event of a determination described in the preceding sentence with respect to the Term SOFR component of the Base Rate, the utilization of the Term SOFR component in determining the Base Rate shall be suspended, in each case until the Administrative Agent (or, in the case of a determination by Required Lenders described in [Section 3.03(b)], until Administrative Agent upon instruction of Required Lenders) revokes such notice. Upon receipt of such notice, # the Borrowers may revoke any pending request for a borrowing of, or conversion to, or continuation of Term SOFR Rate Loans or Daily SOFR Rate Loans (to the extent of the affected Term SOFR Rate Loans, Daily SOFR Rate Loans, or Interest Periods) or, failing that, will be deemed to have converted such request into a request for a borrowing of Base Rate Loans in the amount specified therein, # any outstanding Term SOFR Rate Loans shall be deemed to have been converted to Base Rate Loans immediately at the end of their respective applicable Interest Period, and # any outstanding Daily SOFR Rate Loans shall immediately be deemed to have been converted to Base Rate Loans.

Inability to Determine Rates. If in connection with any request for a Term SOFR Rate Loan, or Daily SOFR Rate Loan, or a conversion of Daily SOFR Rate Loans to aTerm SOFR Loan,Rate Loans or a continuation of a Term SOFR Loan,any of such advances, as applicable, # the Administrative Agent determines that (which determination shall be conclusive absent manifest error) that # no Successor Rate has been determined in accordance with [Section 3.03(b)], and the circumstances under [Section 3.03(b)" data-ad-field-json='{"name":"clause (i) of Section[Section 3.03(b)","canGuess":{"name":false,"type":true}}'>​] (i) or the Scheduled Unavailability Date has occurred, or # adequate and reasonable means do not otherwise exist for determining Daily Simple SOFR or Term SOFR for any determination date(s) or requested Interest Period, as applicable,Period with respect to a proposed Term SOFR Rate Loan or in connection with an existing or proposed Base Rate Loan, or # adequate and reasonable means do not otherwise exist for determining Daily Simple SOFR in connection with an existing or proposed Daily SOFR Rate Loan, or # the Administrative Agent or the Required Lenders determine that for any reason that Term SOFR for any requested Interest Period or determination date(s)Daily Simple SOFR with respect to a proposed advance does not adequately and fairly reflect the cost to such Lenders of funding such Loan,advance, the Administrative Agent will promptly so notify the Borrower and each Lender.. Thereafter, # the obligation of the Lenders to make or maintain Term SOFR Rate Loans, Daily SOFR Rate Loans, or to convert Daily SOFR Rate Loans to Term SOFR Rate Loans, shall be suspended (to the extent of the affected Term SOFR Rate Loans, Daily SOFR Rate Loans, or Interest Periods), and # in the event of a determination described in the preceding sentence with respect to the Term SOFR component of the Base Rate, the utilization of the Term SOFR component in determining the Base Rate shall be suspended, in each case until the (or, in the case of a determination by the Required Lenders described in [Section 3.03(b)], until the upon instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, # the may revoke any pending request for a borrowing of, or conversion to, or continuation of Term SOFR Rate Loans or Daily SOFR Rate Loans (to the extent of the affected Term SOFR Rate Loans, Daily SOFR Rate Loans, or Interest Periods) or, failing that, will be deemed to have converted such request into a request for a borrowing of Base Rate Loans in the amount specified therein, # any outstanding Term SOFR Rate Loans shall be deemed to have been converted to Base Rate Loans immediately at the end of their respective applicable Interest Period, and # any outstanding Daily SOFR Rate Loans shall immediately be deemed to have been converted to Base Rate Loans.

Inability to Determine Rates. If in connection with any request for a Term SOFR Loan,Loan or a conversion of Base Rate Loans to aTerm SOFR Loan,Loans or a continuation of a Term SOFR Loan,Loans, as applicable, # the Administrative Agent determines that (which determination shall be conclusive absent manifest error) that # no Successor Rate for the Relevant Rate for the applicable Agreed Currency has been determined in accordance with [Section 3.03(b)] or [Section 3.03(c)], and the circumstances under or of [Section 3.03(c)] or the Scheduled Unavailability DateDate, or the SOFR Scheduled Unavailability Date, has occurred,occurred with respect to such Relevant Rate (as applicable) or # adequate and reasonable means do not otherwise exist for determining Daily Simple SOFR or Term SOFRthe Relevant Rate for the applicable Agreed Currency for any determination date(s) or requested Interest Period, as applicable, with respect to a proposed Term SOFR Loan or an Alternative Currency Loan or in connection with an existing or proposed Base Rate Loan, or # the Administrative Agent or the Required Lenders determine thatthat, for any reason that Term SOFRreason, the Relevant Rate with respect to a proposed Loan denominated in an Agreed Currency for any requested Interest Period or determination date(s) does not adequately and fairly reflect the cost to such Lenders of funding such Loan, the Administrative Agent will promptly so notify the Borrower and each Lender.

InabilitySubject to Determine Rates. Ifthe provisions set forth in connection with[Section 3.4], if prior to the first day of any request for a SOFR Loan, a conversion to a SOFR Loan, or a continuation of a Term SOFR Loan,Interest Period, # the Administrative Agent determines thatshall have determined in good faith (which determination shall be conclusive absent manifest error) that # no Successor Rate has been determined in accordance with [Section 3.03(b)], and binding upon Borrowers and Guarantors) that, by reason of circumstances affecting the circumstances under or the Scheduled Unavailability Date has occurred, or #relevant market, adequate and reasonable means do not otherwise exist for determiningascertaining Adjusted Term SOFR for such Interest Period or Adjusted Daily Simple SOFR, # Administrative Agent has received notice from the Required Lenders that Adjusted Term SOFR or Adjusted Daily Simple SOFR determined or Term SOFRto be determined for any determination date(s) or requestedsuch Interest Period, as applicable, with respect to a proposed SOFR Loan or in connection with an existing or proposed Base Rate Loan, or # the Administrative Agent or the Required determine that for any reason that Term SOFR for any requested Interest Period or determination date(s) doeswill not adequately and fairly reflect the cost to Lenders of making or maintaining SOFR Rate Loans during such Interest Period, or # Dollar deposits in the principal amounts of fundingthe SOFR Rate Loans to which such Loan,Interest Period is to be applicable are not generally available in the applicable market, Administrative Agent shall give telecopy or telephonic notice thereof to Lead Borrower as soon as practicable thereafter, and will promptly so notifyalso give prompt written notice to Lead Borrower when such conditions no longer exist. If such notice is given # any SOFR Rate Loans requested to be made on the first day of such Interest Period shall be made as Base Rate Loans, # any Loans that were to have been converted on the first day of such Interest Period to or continued as SOFR Rate Loans shall be converted to or continued as Base Rate Loans and # each outstanding SOFR Rate Loan shall be converted, on the last day of the then-current Interest Period thereof, to Base Rate Loans. Until such notice has been withdrawn by Administrative Agent, no further SOFR Rate Loans shall be made or continued as such, nor shall any Borrower and each Lender.have the right to convert Base Rate Loans to SOFR Rate Loans.

InabilityCircumstances Affecting Benchmark Availability. Subject to Determine Rates. If[clause (c)] below, in connection with any request for a SOFR Loan,Loan or a conversion to a SOFR Loan, or a continuation of a Term SOFR Loan,thereof or otherwise, if for any reason # the Administrative Agent determines thatshall determine (which determination shall be conclusive and binding absent manifest error) that # no Successor Rate has been determined in accordance with [Section 3.03(b)],reasonable and the circumstances under or the Scheduled Unavailability Date has occurred, or # adequate and reasonable means do not otherwise exist for determining Daily Simple SOFR orascertaining Term SOFR for any determination date(s) or requestedthe applicable Interest Period, as applicable,Period with respect to a proposed SOFR Loan on or in connection with an existing or proposed Base Rate Loan, or #prior to the Administrative Agent or the Required determine that for any reason that Term SOFR for any requestedfirst day of such Interest Period or # any Lender shall determine (which determination date(s)shall be conclusive and binding absent manifest error) that Term SOFR does not adequately and fairly reflect the cost to such Lender of fundingmaking or maintaining such Loan,Loans during such Interest Period, then in each case, the Administrative Agent willshall promptly so notifygive notice thereof to the Borrower. Upon notice thereof by the Administrative Agent to the Borrower, any obligation of the Lenders to make SOFR Loans, and any right of the Borrower to convert any Loan to or continue any Loan as a SOFR Loan, shall be suspended (to the extent of the affected SOFR Loans or the affected Interest Periods) until the Administrative Agent revokes such notice. Upon receipt of such notice, # the Borrower may revoke any pending request for a borrowing of, conversion to or continuation of SOFR Loans (to the extent of the affected SOFR Loans or the affected Interest Periods) or, failing that, the Borrower will be deemed to have converted any such request into a request for a borrowing of or conversion to Base Rate Loans in the amount specified therein and each Lender.# any outstanding affected SOFR Loans will be deemed to have been converted into Base Rate Loans at the end of the applicable Interest Period. Upon any such conversion, the Borrower shall also pay accrued interest on the amount so converted, together with any Breakage Costs.

InabilityIf Agent, on any Business Day, is unable to Determine Rates. If in connection with any requestdetermine the SOFR-Based Rate applicable for a new or converted SOFR Loan,Loan for any reason, or any law, regulation, or governmental order, rule or determination, makes it unlawful for any Lender to fund or maintain such Loan or to continue such funding or maintaining, Agent shall give notice of such changed circumstances to Administrative Borrower and # all SOFR Loans shall be immediately converted to Base Rate Loans, and # no Borrower shall be entitled to elect the applicable SOFR-Based Rate (whether at the time when the applicable Loan was made, upon conversion from a conversionBase Rate Loan to a SOFRsuch Loan, or aupon continuation of a Term SOFR Loan, # the Administrativesuch Loan) until Agent determines that (which determination shallit would no longer be conclusive absent manifest error) that # no Successor Rate has been determined in accordance with [Section 3.03(b)], and the circumstances under unable, unlawful or the Scheduled Unavailability Date has occurred, or # adequate and reasonable meansimpractical to do not otherwise exist for determining Daily Simple SOFR or Term SOFR for any determination date(s) or requested Interest Period, as applicable, with respect to a proposed SOFR Loan or in connection with an existing or proposed Base Rate Loan, or # the Administrative Agent or the Required determine that for any reason that Term SOFR for any requested Interest Period or determination date(s) does not adequately and fairly reflect the cost to such of funding such Loan, the Administrative Agent will promptly so notify the Borrower and each Lender.so.

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