Common use of Circumstances Affecting LIBOR Rate Availability Clause in Contracts

Circumstances Affecting LIBOR Rate Availability. If, with respect to any Interest Period, the Agent or the Required Lenders (after consultation with the Agent) shall determine that, by reason of circumstances affecting the foreign exchange and interbank markets generally, the deposits in eurodollars in the applicable amounts are not being offered (through Telerate Page 3750 or otherwise) to the Agent or the Required Lenders for such Interest Period, then the Agent shall forthwith give notice thereof to the Borrower. Thereafter, until the Agent notifies the Borrower that such circumstances no longer exist (which notification shall be given promptly, but in any event within ten (10) days after the Agent obtains actual knowledge that such circumstances no longer exist), the obligation of the Lenders to make Loans, shall be suspended, and the Borrower shall elect to either (i) repay in full (or cause to be repaid in full) the then outstanding principal amount of each such Loan, together with accrued interest thereon, on the last day of the then current Interest Period applicable to such Loan or (i) to convert the then outstanding principal amount of such affected Loans and the Reimbursement Obligations to a Base Rate Loan as of the last day of such Interest Period until such circumstances no longer exist, whereupon such affected Loans shall convert to LIBOR Rate Loans as of the first date on which such circumstances no longer exist.

Circumstances Affecting LIBOR Rate Availability. If, If with respect to any Interest Period, Period the Administrative Agent or the Required Lenders any Lender (after consultation with the Administrative Agent) shall determine that, by reason of circumstances affecting the foreign exchange and interbank markets generally, the deposits in eurodollars eurodollars, in the applicable amounts are not being offered (through quoted via Telerate Page 3750 or otherwise) offered to the Administrative Agent or the Required Lenders such Lender for such Interest Period, then the Administrative Agent shall forthwith give notice thereof to the Borrower. Thereafter, until the Administrative Agent notifies the Borrower that such circumstances no longer exist (which notification shall be given promptly, but in any event within ten thirty (1030) days after the Administrative Agent obtains actual knowledge that such circumstances no longer exist), the obligation of the Lenders to make Loans, LIBOR Rate Loans and the right of the Borrower to convert any Loan to or continue any Loan as a LIBOR Rate Loan shall be suspended, and the Borrower shall elect to either (i) repay in full (or cause to be repaid in full) the then outstanding principal amount of each such Loan, LIBOR Rate Loan together with accrued interest thereon, on the last day of the then current Interest Period applicable to such LIBOR Rate Loan or (i) to convert the then outstanding principal amount of each such affected Loans and the Reimbursement Obligations LIBOR Rate Loan to a Base Rate Loan as of the last day of such Interest Period until such circumstances no longer exist, whereupon such affected Loans shall convert to LIBOR Rate Loans as of the first date on which such circumstances no longer existPeriod.

Circumstances Affecting LIBOR Rate Availability. IfUnless and until a Replacement Rate is implemented in accordance with clause (c) below, in connection with respect to any Interest Periodrequest for a Loan or otherwise, if for any reason (i) the Administrative Agent or the Required Lenders (after consultation with the Agent) shall determine that, by reason of circumstances affecting the foreign exchange (which determination shall be conclusive and interbank markets generally, the binding absent manifest error) that Dollar deposits in eurodollars in the applicable amounts are not being offered to banks in the London interbank Eurodollar market for the applicable amount of such Loan, (through Telerate Page 3750 ii) the Administrative Agent shall determine (which determination shall be conclusive and binding absent manifest error) that reasonable and adequate means do not exist for the ascertaining the LIBOR Rate with respect to a proposed Loan or otherwise(iii) to the Agent or the Required Lenders for shall determine (which determination shall be conclusive and binding absent manifest error) that the LIBOR Rate does not adequately and fairly reflect the cost to such Interest PeriodLenders of making or maintaining such Loans, then the Administrative Agent shall forthwith promptly give notice thereof to the Borrower. Thereafter, until the Administrative Agent notifies the Borrower that such circumstances no longer exist (which notification shall be given promptly, but in any event within ten (10) days after the Agent obtains actual knowledge that such circumstances no longer exist), the obligation of the Lenders to make Loans, Loans shall be suspended, and the Borrower shall elect to either (iA) repay in full (or cause to be repaid in full) the then outstanding principal amount of each such Loan, Loan together with accrued interest thereon, on the last day of the then current Interest Period applicable thereon (subject to such Loan Section 5.1(d)); or (iB) to convert the then outstanding principal amount of each such affected Loans and the Reimbursement Obligations Loan shall bear interest at an amount equal to a Base Rate Loan as of the last day of such Interest Period until such circumstances no longer exist, whereupon such affected interest rate applicable to the Loans shall convert pursuant to LIBOR Rate Loans as of the first date on which such circumstances no longer existSection 5.1(a).