Example ContractsClausesInability to Determine Rate
Inability to Determine Rate
Inability to Determine Rate contract clause examples

Inability to Determine Interest Rate. (a) If in connection with any request for a Eurodollar Loan or a continuation thereof, # the Administrative Agent determines that adequate and reasonable means do not exist for determining the Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Loan (in each case with respect to this clause (i), an “Impacted Loan”), or # the Administrative Agent or the Required Lenders determine that for any reason the Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Loan does not adequately and fairly reflect the cost to such Lenders of funding such Eurodollar Loan, the Administrative Agent will promptly so notify the Operating Partnership and each Lender. Thereafter, the obligation of the Lenders to make or maintain Eurodollar Loans shall be suspended (to the extent of the affected Eurodollar Loans or Interest Periods) until the Administrative Agent or, in the case of a determination by the Required Lenders described in clause (ii) of the preceding sentence, until the Administrative Agent upon instruction of the Required Lenders revokes such notice. Upon receipt of such notice, the Borrowers may revoke any pending request for an Impacted Loan, or a continuation of Impacted Loans; failing such a revocation by the Borrowers, the Borrowers will be deemed to have # converted such request into a request for a Loan bearing interest at a per annum rate equal to the Alternative Rate applicable to the relevant Impacted Loan plus the Applicable Margin (in the case where an Alternative Rate for such Impacted Loan has been established) or # revoked their request for such Impacted Loan (in the case where an Alternative Rate for such Impacted Loan has not been established).

Inability to Determine Rate. If in connection with any request for a BSBY Loan or a conversion to or continuation thereof, as applicable, # Lender determines (which determination shall be conclusive absent manifest error) that # no Successor Rate has been determined in accordance with [Section 3.6.2], and the circumstances under [Section 3.6.2(a)] or the Scheduled Unavailability Date has occurred (as applicable), or # adequate and reasonable means do not otherwise exist for determining BSBY Rate for any requested Interest Period with respect to a proposed BSBY Loan or in connection with an existing or proposed Base Rate Loan, or # Lender determines that for any reason that BSBY Rate for any requested Interest Period with respect to a proposed BSBY Loan does not adequately and fairly reflect the cost to such Lender of funding such Loan, Lender will promptly so notify Borrower Agent. Thereafter, # the obligation of Lender to make, maintain, or convert Base Rate Loans to, BSBY Loans shall be suspended (to the extent of the affected BSBY Loans or Interest Periods), and # in the event of a determination described in the preceding sentence with respect to the BSBY Rate component of Base Rate, the utilization of such component in determining Base Rate shall be suspended, in each case until Lender revokes such notice. Upon receipt of such notice, # Borrowers may revoke any pending request for a Borrowing, conversion or continuation of BSBY Loans (to the extent of the affected BSBY Loans or Interest Periods) or, failing that, will be deemed to have converted such request into a request for Base Rate Loans, and # any outstanding BSBY Loans shall convert to Base Rate Loans at the end of their respective Interest Periods.

Subject to [clauses (b), (c), (d), (e), (f) and (g) of this Section 2.16], if prior to the first day of any Interest Period:

. (a) Subject to clauses (b), (c), (d), (e), (f) and (g) of this ‎[Section 2.16], if prior to the first day of any Interest Period:

. (a[[Borrower:Organization]] IfSubject to [clauses (b), (c), (d) and (e) of this Section 2.16][[Borrower:Organization]][[Borrower:Organization]][[Borrower:Organization]][[Borrower:Organization]], if prior to the first day of any Interest Period:

Inability to Determine Interest Rate. (I) Subject to the following paragraph and [Section 4.7(II)], if, prior to the first day of any Interest Period, the Administrative Agent shall have determined (which determination shall be conclusive and binding upon each of the Borrowers) that, by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining the LIBOR Rate with respect to any Eurodollar Loan for such Interest Period (the “Affected Eurodollar Rate”), the Administrative Agent shall give telecopy or telephonic notice thereof to the Borrower Representative and the Lenders as soon as practicable thereafter. If such notice is given # any Eurodollar Loans the rate of interest applicable to which is based on the Affected Eurodollar Rate requested to be made on the first day of such Interest Period shall be made as ABR Loans and # any Term Loans that were to have been converted on the first day of such Interest Period to or continued as Eurodollar Loans the rate of interest applicable to which is based upon the Affected Eurodollar Rate shall be converted to or continued as ABR Loans. Until such notice has been withdrawn by the Administrative Agent, no further Eurodollar Loans the rate of interest applicable to which is based upon the Affected Eurodollar Rate shall be made or continued as such, nor shall the Borrower Representative have the right to convert ABR Loans to Eurodollar Loans, the rate of interest applicable to which is based upon the Affected Eurodollar Rate.

If prior to the first day of any Interest Period:

Inability to Determine Rate. In the event that Bank shall have determined, which determination shall be final, conclusive and binding, that by reason of circumstances occurring after the date of this Agreement affecting the London Interbank Eurodollar market, # adequate and fair means do not exist for ascertaining the LIBOR-based Rate on the basis provided for in this Agreement or # Dollar deposits are not being offered to banks in the Loan interbank Eurodollar market for the applicable amount and Interest Period of such LIBOR-based Advance, Bank shall give notice (by telephone confirmed in writing or by telecopy) to Borrower of such determination, whereupon # no LIBOR-based Advance shall be made until Bank notifies Borrower that the circumstances giving rise to such notice no longer exist, and # any request by Borrower for a LIBOR-based Advance shall be deemed to be a request for an advance at the Prime-based Rate.

Inability to Determine Interest Rate . If prior to the first day of any Interest Period:

Inability to Determine Rate; Cost Subject to [Subsection 523], if, on or prior to the commencement of any Interest Period (or, in the case of any Benchmark that is not subject to an Interest Period, on any Business Day):

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