Common use of Alternative Rate of Interest Clause in Contracts

Alternative Rate of Interest. If prior to the commencement of any Interest Period for a Borrowing of Eurodollar Loans, Administrative Agent determines that adequate and reasonable means do not exist for ascertaining the Eurodollar Rate for such Interest Period (any such determination shall be conclusive absent manifest error) or that the Eurodollar Rate for such Interest Period will not adequately and fairly reflect the cost to the Lenders of making or maintaining their Loans included in such Borrowing for such Interest Period, then Administrative Agent shall give notice thereof to the Borrower and the Lenders by telephone or telecopy as promptly as practicable thereafter and, until Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, any Continuation/Conversion Notice that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a Borrowing of Eurodollar Loans shall be ineffective and shall be deemed a request to continue such Borrowing as a Borrowing of Base Rate Loans and such Borrowing shall be made as a Borrowing of Base Rate Loans.

Alternative Rate of Interest. If prior to the commencement of any Interest Period for a Borrowing of any Eurodollar Loans, : (a) Administrative Agent determines that adequate and reasonable means do not exist for ascertaining the Eurodollar Rate for such Interest Period (any such determination shall be conclusive absent manifest error); or (b) or Administrative Agent is advised by Required Lenders that the Eurodollar Rate for such Interest Period will not adequately and fairly reflect the cost to the such Lenders of making or maintaining their any Eurodollar Loans included in such Borrowing for such Interest Period, ; then Administrative Agent shall give notice thereof to the Borrower and the Lenders by telephone or telecopy facsimile as promptly as practicable thereafter and, until Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, any Continuation/Conversion Notice that requests the conversion Conversion of any Borrowing to, Base Rate Loans to Eurodollar Loans or continuation the Continuation of any Borrowing as, a Borrowing of Eurodollar Loans shall be ineffective and shall only be deemed a request to continue such Borrowing Loans as a Borrowing of Base Rate Loans and such Borrowing shall be made as a Borrowing of Base Rate Loans. Upon receipt of such notice, Borrower may revoke any pending request for the Conversion to or Continuation of Eurodollar Loans.