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Inability to Determine Rates
Inability to Determine Rates contract clause examples

Rates Applicable After Default. Notwithstanding anything to the contrary contained in [Section 2.8, 2.9 or 2.11]1]1], during the continuance of a Default or Unmatured Default the Required Lenders may, at their option, by notice to the Company (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of [Section 8.2] requiring unanimous consent of the Lenders to reductions in interest rates), declare that # no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and/or # each Eurocurrency Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum and/or # each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum and/or # the Letter of Credit Fee Rate shall be increased by 2% per annum; provided that, during the continuance of a Default under Section [(f) or (g) of Article VII]I], the interest rates set forth in [clauses (b) and (c) above]e] and the increase in the Letter of Credit Fee Rate set forth in [clause (d) above] shall be applicable to all applicable Credit Extensions without any election or action on the part of the Administrative Agent or any Lender.

Rates Applicable After Default. Notwithstanding anything to the contrary contained in [Section 2.2.3] or [Section 2.2.4], during the continuance of a Default or Unmatured Default, the Required [[Organization B:Organization]] may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required [[Organization B:Organization]] notwithstanding any provision of [Section 8.2] requiring unanimous consent of [[Organization B:Organization]] to changes in interest rates), declare that no Advance may be made as, converted into or continued as a Eurodollar Advance. During the continuance of a Default, the Required [[Organization B:Organization]] may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required [[Organization B:Organization]] notwithstanding any provision of [Section 8.2] requiring unanimous consent of [[Organization B:Organization]] to changes in interest rates), declare that # each Eurodollar Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 1.5% per annum or # each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time, plus the Base Rate Margin, plus 1.5% per annum, provided that, during the continuance of a Default under [Section 7.7 or 7.8]8], the interest rates set forth in [clauses (i) and (ii) above] shall be applicable to all Advances without any election or action on the part of the Administrative Agent or any Lender.

Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.10 or 2.11, during the continuance of a Default or Unmatured Default, the Required [[Organization B:Organization]] may, at their option, by notice to [[Organization A:Organization]] (which notice may be revoked at the option of the Required [[Organization B:Organization]] notwithstanding any provision of Section 8.2 requiring unanimous consent of the [[Organization B:Organization]] to changes in interest rates), declare that no Loans to [[Organization A:Organization]] may be converted into or continued as a Eurodollar Loan. During the continuance of a Default, the Required [[Organization B:Organization]] may, at their option, by notice to [[Organization A:Organization]] (which notice may be revoked at the option of the Required [[Organization B:Organization]] notwithstanding any provision of Section 8.2 requiring unanimous consent of the [[Organization B:Organization]] to changes in interest rates), declare that # each Eurodollar Loan shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum and # each Floating Rate Loan shall bear interest at a rate per annum equal to the Alternate Base Rate in effect from time to time plus 2% per annum, provided that during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in [clauses (a) and (b) above] shall be applicable to all outstanding Loans to [[Organization A:Organization]] without any election or action on the part of the Agent or any Lender.

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