Common use of Inability to Determine LIBOR Rate Clause in Contracts

Inability to Determine LIBOR Rate. In the event, prior to the commencement of any Interest Period relating to any LIBOR Rate Loan, Lender shall determine that adequate and reasonable methods do not exist for ascertaining the LIBOR Rate that would otherwise determine the rate of interest to be applicable to any LIBOR Rate Loan during any Interest Period, Lender shall forthwith give notice of such determination (which shall be conclusive and binding on the Company) to the Company. In such event, (a) any request for a LIBOR Rate Loan shall be automatically withdrawn and shall be deemed a request for a Prime Rate Loan, (b) each LIBOR Rate Loan will automatically, on the last day of the then current Interest Period thereof, become a Prime Late Loan, and (c) the obligations of Lender to make LIBOR Rate Loans shall be suspended until Lender determines that the circumstances giving rise to such suspension no longer exist, whereupon Lender shall so notify the Company.

Inability to Determine LIBOR Rate. In the event, prior to the commencement of any Interest Period relating to any LIBOR Rate Loan, the Lender shall determine that adequate and reasonable methods do not exist for ascertaining the LIBOR Rate that would otherwise determine the rate of interest to be applicable to any LIBOR Rate Loan during any Interest Period, the Lender shall forthwith give written notice of such determination (which shall be conclusive and binding on the CompanyBorrower) to the CompanyBorrower. In such event, event (a) any request for a Loan with respect to LIBOR Rate Loan Loans shall be automatically withdrawn and shall be deemed a request for a Prime Rate LoanLoans, (b) each LIBOR Rate Loan will automatically, on the last day of the then current Interest Period thereof, thereof will automatically become a Prime Late Rate Loan, and (c) the obligations of the Lender to make LIBOR Rate Loans shall be suspended until the Lender determines that the circumstances giving rise to such suspension no longer exist, whereupon the Lender shall so notify the CompanyBorrower.

Inability to Determine LIBOR Rate. In the event, event that prior to the commencement of any LIBOR Interest Period relating to any LIBOR Rate Loan, Lender Bank shall determine in the exercise of its reasonable commercial judgment that adequate and reasonable methods do not exist for ascertaining the LIBOR Rate that would otherwise determine the rate of interest to be applicable to any LIBOR Rate Loan during any for such Interest Period, Lender Bank shall forthwith give notice of such determination (which shall be conclusive and binding on the CompanyBorrower) to the CompanyBorrower. In such event, event (a) any request for notice from Borrower requesting a LIBOR Rate for a Loan shall be automatically withdrawn and shall be deemed a request for a Loan bearing interest at the applicable Prime Rate LoanLending Rate, and (b) each LIBOR Rate Loan will automatically, on the last day of the then current LIBOR Rate Interest Period thereofPeriod, become a convert to an amount accruing interest at the Prime Late LoanLending Rate per annum, and (c) no further LIBOR Loans will be permitted until Bank determines in the obligations exercise of Lender to make LIBOR Rate Loans shall be suspended until Lender determines its reasonable commercial judgment that the circumstances giving rise to such suspension no longer exist, whereupon Lender Bank shall so notify the CompanyBorrower.

Inability to Determine LIBOR Rate. In the event, prior to the commencement of any Interest Period relating to any LIBOR Rate Loan, Lender the Bank shall determine that adequate and reasonable methods do not exist for ascertaining the LIBOR Rate that would otherwise determine the rate of interest to be applicable to any LIBOR Rate Loan during any Interest Period, Lender the Bank shall forthwith give notice of such determination (which shall be conclusive and binding on the CompanyBorrower) to the CompanyBorrower. In such event, event (ai) any request for a Loan Request or Conversion Request with respect to any LIBOR Rate Loan shall be automatically withdrawn and shall be deemed a request for a Prime Base Rate Loan, (bii) each LIBOR Rate Loan will automatically, on the last day of the then current Interest Period thereof, become a Prime Late Base Rate Loan, and (ciii) the obligations obligation of Lender the Bank to make LIBOR Rate Loans shall be suspended until Lender the Bank determines that the circumstances giving rise to such suspension no longer exist, whereupon Lender the Bank shall so notify the CompanyBorrower.

Inability to Determine LIBOR Rate. In the event, event prior to the commencement of any Interest Period relating to any LIBOR Rate Loan, Lender BKB shall determine that adequate and reasonable methods do not exist for ascertaining the LIBOR Rate that would otherwise determine the rate of interest to be applicable to any LIBOR Rate Loan during any Interest Period, Lender BKB shall forthwith give notice of such determination to the Borrower (which shall be conclusive and binding on the Company) to the CompanyBorrower). In such event, event (a) any request for a Loan Request or Conversion Request with respect to LIBOR Rate Loan Loans shall be automatically withdrawn and shall be deemed a request for a Prime Rate Loanwithdrawn, (b) each LIBOR Rate Loan will automatically, on the last day of the then current Interest Period thereofrelating thereto, become a Prime Late Base Rate Loan, and (c) the obligations of Lender BKB to make LIBOR Rate Loans shall be suspended until Lender BKB determines that the circumstances giving rise to such suspension no longer exist, whereupon Lender BKB shall so notify the CompanyBorrower.

Inability to Determine LIBOR Rate. In the event, prior to the commencement of any Interest Period relating to any LIBOR Rate Loan, Lender the Bank shall determine that adequate and reasonable methods do not exist for ascertaining the LIBOR Rate that would otherwise determine the rate of interest to be applicable to any LIBOR Rate Loan during any Interest Period, Lender the Bank shall forthwith give notice of such determination (which shall be conclusive and binding on the CompanyBorrower) to the CompanyBorrower. In such event, event (a) any request for a Loan Request or Conversion Request with respect to any LIBOR Rate Loan shall be automatically withdrawn and shall be deemed a request for a Prime Base Rate Loan, (b) each LIBOR Rate Loan will automatically, on the last day of the then current Interest Period thereof, become a Prime Late Base Rate Loan, and (c) the obligations obligation of Lender the Bank to make LIBOR Rate Loans shall be suspended until Lender the Bank determines that the circumstances giving rise to such suspension no longer exist, whereupon Lender the Bank shall so notify the CompanyBorrower.