Common use of Alternative Basis Clause in Contracts

Alternative Basis. (a) After receipt of any notification under this Clause, if the Lender or the Company so requires, the Company and the Lender must enter into negotiations for a period of not more than 30 days with a view to agreeing an alternative basis for determining the rate of interest and/or funding for the Loan. (b) Any alternative basis agreed will be binding on each Party.

Alternative Basis. (a) After receipt of any notification under this Clause, if the Lender or the Company so requires, the Company and the Lender must enter into negotiations for a period of not more than 30 days with a view to agreeing an alternative basis for determining the rate of interest and/or funding for the affected Loan. (b) Any alternative basis agreed will be binding on each Party.