Common use of Deposits Unavailable Clause in Contracts

Deposits Unavailable. If either of the Administrative Agents shall have determined that: (a) Dollar deposits in the relevant amount and for the relevant Interest Period are not available to it in its relevant market; or (b) by reason of circumstances affecting it’s relevant market, adequate means do not exist for ascertaining the interest rate applicable hereunder to LIBO Rate Loans denominated in any Currency; then, upon notice from such Administrative Agent to the Borrowers and the Lenders, the obligations of all Lenders under Section 2.3 and Section 2.4 to make or continue any Loans as, or to convert any Loans into, LIBO Rate Loans denominated in such Currency shall forthwith be suspended until such Administrative Agent shall notify the Borrowers and the Lenders that the circumstances causing such suspension no longer exist.

Appears in 3 contracts

Sources: Credit Agreement (Ferro Corp), Credit Agreement (Ferro Corp), Credit Agreement (Ferro Corp)

Deposits Unavailable. If either of the Administrative Agents Agent shall have determined that: (a) Dollar deposits certificates of deposit or Dollar deposits, as the case may be, in the relevant amount and for the relevant Interest Period are not available to it the Administrative Agent in its relevant market; or (b) by reason of circumstances affecting it’s the Administrative Agent's relevant market, adequate means do not exist for ascertaining the interest rate applicable hereunder to LIBO Rate Loans denominated in any Currency; of such type, then, upon notice from such the Administrative Agent to the Borrowers Borrower and the Lenders, the obligations of all Lenders under Section 2.3 and Section 2.4 to make or continue any Loans as, or to convert any Loans into, LIBO Rate Loans denominated in of such Currency type shall forthwith be suspended until such the Administrative Agent shall notify the Borrowers Borrower and the Lenders that the circumstances causing such suspension no longer exist.

Appears in 2 contracts

Sources: Credit Agreement (W-H Energy Services Inc), Credit Agreement (W-H Energy Services Inc)

Deposits Unavailable. If either of the Administrative Agents Agent or the Required Lenders shall have determined (which determination shall be conclusive absent manifest error) that: (a) Dollar deposits in the relevant amount and for the relevant Interest Period are not available to it in its relevant market; or (b) by reason of circumstances affecting it’s its relevant market, adequate means do not exist for ascertaining the interest rate applicable hereunder to LIBO Rate Loans denominated in any CurrencyLoans; then, upon notice from such the Administrative Agent to the Borrowers and the Lenders, the obligations of all Lenders under Section 2.3 and Section 2.4 to make or continue any Loans as, or to convert any Loans into, LIBO Rate Loans denominated in such Currency shall forthwith be suspended until such the Administrative Agent shall notify the Borrowers and the Lenders that the Administrative Agent or the Required Lenders have determined that the circumstances causing such suspension no longer exist.

Appears in 2 contracts

Sources: Credit Agreement (Aei), Credit Agreement (Aei)

Deposits Unavailable. If either of the Administrative Agents Agent shall have determined that: that (a) Dollar deposits in the relevant amount and or for the relevant Interest Period are not available to it Bankers Trust in its relevant marketmarket (or both); or or (b) by reason of circumstances affecting it’s Bankers Trust's relevant market, adequate means do not exist for ascertaining the interest rate applicable hereunder to LIBO Rate Loans denominated in any Currency; Loans, then, upon notice from such the Administrative Agent to the Borrowers Borrower and the LendersBanks, (x) the obligations of all Lenders Banks under Section 2.3 and Section 2.4 to make or continue any Loans as, or to convert any Loans into, LIBO Rate Loans denominated in such Currency shall forthwith be suspended until such the Administrative Agent shall notify the Borrowers Borrower and the Lenders Banks that the circumstances causing such suspension no longer exist; and (y) all LIBO Rate Loans shall automatically convert into Base Rate Loans at the end of the then current Interest Periods with respect thereto.

Appears in 2 contracts

Sources: Credit Agreement (Magnum Hunter Resources Inc), Credit Agreement (Magnum Hunter Resources Inc)

Deposits Unavailable. If either of the Administrative Agents Agent shall have determined that: (a) Dollar deposits in the relevant amount and for the relevant Interest Period are not available to it in its relevant market; or (b) by reason of circumstances affecting it’s its relevant market, adequate means do not exist for ascertaining the interest rate applicable hereunder to LIBO LIBOR Rate Loans denominated in any Currency; then, upon notice from such the Administrative Agent to the Borrowers and the Lenders, the obligations of all Lenders under Section 2.3 and Section 2.4 to make or continue any Loans as, or to convert any Loans into, LIBO LIBOR Rate Loans denominated in such Currency shall forthwith be suspended until such the Administrative Agent shall notify the Borrowers and the Lenders that the circumstances causing such suspension no longer exist.

Appears in 1 contract

Sources: Credit Agreement (Ferro Corp)

Deposits Unavailable. If either of the Administrative Agents Agent shall -------------------- have reasonably determined that: that (ai) Dollar deposits in the relevant amount and for the relevant Interest Period are not available to it the Administrative Agent in its relevant market; or , or (bii) by reason of circumstances affecting it’s the Administrative Agent's relevant market, adequate means do not exist for ascertaining the interest rate applicable hereunder to LIBO Rate Loans denominated in any Currency; of such type, then, upon notice from such the Administrative Agent to the Borrowers Borrower and the Lenders, the obligations of all Lenders under Section 2.3 and Section 2.4 to ----------- ----------- make or continue any Loans as, or to convert any Loans into, LIBO Rate Loans denominated in of such Currency type shall forthwith be suspended until such the Administrative Agent shall notify the Borrowers Borrower and the Lenders that the circumstances causing such suspension no longer exist.

Appears in 1 contract

Sources: Credit Agreement (Roberts Pharmaceutical Corp)

Deposits Unavailable. If either of the Administrative Agents Agent shall have determined that: (a) Dollar deposits in the relevant amount and for the relevant Interest Period are not available to it in its relevant market; or (b) by reason of circumstances affecting it’s relevant market, adequate means do not exist for ascertaining the interest rate applicable hereunder to LIBO Rate Loans denominated in any Currency; then, upon notice from such the Administrative Agent to the Borrowers Borrower and the Lenders, the obligations of all Lenders under Section 2.3 and Section 2.4 to make or continue any Loans as, or to convert any Loans into, LIBO Rate Loans denominated in such Currency shall forthwith be suspended until such the Administrative Agent shall notify the Borrowers Borrower and the Lenders that the circumstances causing such suspension no longer exist.

Appears in 1 contract

Sources: First Lien Credit Agreement (Hanesbrands Inc.)

Deposits Unavailable. If either of the Administrative Agents Agent shall have determined that: that (a) Dollar deposits deposits, as the case may be, in the relevant amount and for the relevant Interest Period are not available to it Fleet in its relevant market; or or (b) by reason of circumstances affecting it’s the relevant marketmarket of the Lender that is the Administrative Agent, adequate means do not exist for ascertaining the interest rate applicable hereunder to LIBO Rate Loans denominated in any Currency; of such type, then, upon notice from such the Administrative Agent to the Borrowers and the Lenders, the obligations of all Lenders under Section 2.3 and Section 2.4 to make or continue any Loans as, or to convert any Loans into, LIBO Rate Loans denominated in of such Currency type shall forthwith be suspended until such the Administrative Agent shall notify the Borrowers and the Lenders that the circumstances causing such suspension no longer exist.

Appears in 1 contract

Sources: Credit Agreement (Copano Energy, L.L.C.)

Deposits Unavailable. If either of the Administrative Agents Agent shall have -------------------- determined that: that (ai) Dollar deposits in the relevant amount and for the relevant Interest Period are not available to it the Administrative Agent in its relevant market; or , or (bii) by reason of circumstances affecting it’s the Administrative Agent's relevant market, adequate means do not exist for ascertaining the interest rate applicable hereunder to LIBO Rate Loans denominated in any Currency; Loans, then, upon notice from such the Administrative Agent to the Borrowers Borrower and the Lenders, the obligations of all Lenders under Section 2.3 and Section 2.4 to make or continue any Term Loans as, ----------- ----------- or to convert any Term Loans into, LIBO Rate Loans denominated in such Currency shall forthwith be suspended until such the Administrative Agent shall notify the Borrowers Borrower and the Lenders that the circumstances causing such suspension no longer exist.

Appears in 1 contract

Sources: Term Loan Agreement (Jorgensen Earle M Co /De/)

Deposits Unavailable. If the Administrative Agent shall have been informed by either Chase or Lenders holding 51% of the Administrative Agents shall have determined then aggregate outstanding principal amount of the Notes that: (a) Dollar deposits in the relevant amount and for the relevant Interest Period are not available to it in its the relevant market; or (b) by reason of circumstances affecting it’s Chase's relevant market, adequate means do not exist for ascertaining the interest rate applicable hereunder to LIBO Rate Loans denominated in any Currency; Loans, then, upon notice from such the Administrative Agent to the Borrowers Company and the Lenders, the obligations of all Lenders under Section 2.3 and Section 2.4 4.1 to make or continue any Loans as, or to convert any Loans into, LIBO Rate Loans denominated in such Currency shall forthwith be suspended until such the Administrative Agent shall notify the Borrowers Company and the Lenders that the circumstances causing such suspension no longer exist.

Appears in 1 contract

Sources: Credit Agreement (Chicago Title Corp)

Deposits Unavailable. If either of the Administrative Agents Agent shall have reasonably determined that: (a1) Dollar deposits certificates of deposit or Dollar deposits, as the case may be, in the relevant amount and for the relevant Interest Period are not available to it the Administrative Agent in its relevant market; or (b2) by reason of circumstances affecting it’s the Administrative Agent's relevant market, adequate means do not exist for ascertaining the interest rate applicable hereunder to LIBO Rate Loans denominated in any Currency; of such type, then, upon notice from such the Administrative Agent to the Borrowers Parent and the Lenders, the obligations of all Lenders under Section 2.3 and Section 2.4 to make or continue any Loans as, or to convert any Loans into, LIBO Rate Loans denominated in of such Currency type shall forthwith be suspended until such the Administrative Agent shall notify the Borrowers Parent and the Lenders that the circumstances causing such suspension no longer exist.

Appears in 1 contract

Sources: Credit Agreement (Triarc Companies Inc)

Deposits Unavailable. If either of the Administrative Agents Agent shall have determined that: (a) Dollar deposits in the relevant amount and for the relevant Interest Period are not available to it the Lender that is also acting as the Administrative Agent in its relevant market; or (b) by reason of circumstances affecting it’s the relevant marketmarket for the Lender that is also acting as the Administrative Agent, adequate means do not exist for ascertaining the interest rate applicable hereunder to LIBO Rate Loans denominated in any Currency; Loans, then, upon notice from such the Administrative Agent to the Borrowers Borrower and the Lenders, the obligations of all Lenders under Section 2.3 2.4 and Section 2.4 2.5 to make or continue any Loans as, or to convert any Loans into, LIBO Rate Loans denominated in such Currency shall forthwith be suspended until such the Administrative Agent shall notify the Borrowers Borrower and the Lenders that the circumstances causing such suspension no longer exist.

Appears in 1 contract

Sources: Credit and Guaranty Agreement (Key Components Finance Corp)