Common use of INTEREST RATE NOT ASCERTAINABLE, ETC Clause in Contracts

INTEREST RATE NOT ASCERTAINABLE, ETC. If the Agent shall have determined (which determination shall be conclusive and binding upon the Borrower) that on any date for determining the Eurodollar Rate for any Interest Period, by reason of any circumstances affecting the interbank Eurodollar market generally, adequate and fair means do not exist for ascertaining the applicable interest rate on the basis provided for in the definition of Adjusted Eurodollar Rate, then, and in any such event, the Agent shall forthwith give notice (by telephone confirmed in writing) to the Borrower of such determination. Until the Agent notifies the Borrower that the circumstances giving rise to the suspension described herein no longer exist: (i) any Advance made hereunder shall bear interest at the then applicable Alternate Rate; and (ii) if any Advance affected is then outstanding, each such Advance shall immediately convert into an Advance bearing interest at the then applicable Alternate Rate with an Interest Period ending on the date on which the Interest Period applicable to the Advance affected expires.

INTEREST RATE NOT ASCERTAINABLE, ETC. If the Agent shall have determined (which determination shall be conclusive and binding upon the Borrower) that on any date for determining the Eurodollar LIBO Rate for any Interest Period, by reason of any circumstances affecting the interbank Eurodollar market generally, adequate and fair means do not exist for ascertaining the applicable interest rate on the basis provided for in the definition of Adjusted Eurodollar LIBO Rate, then, and in any such event, the Agent shall forthwith give notice (by telephone confirmed in writing) to the Borrower of such determination. Until the Agent notifies the Borrower that the circumstances giving rise to the suspension described herein no longer exist: (i) any Advance made hereunder shall bear interest at the then applicable Alternate Rate; and (ii) if any Advance affected is then outstanding, each such Advance shall immediately convert into an Advance bearing interest at the then applicable Alternate Rate with an Interest Period ending on the date on which the Interest Period applicable to the Advance affected expires.

INTEREST RATE NOT ASCERTAINABLE, ETC. If the Administrative Agent shall have determined (which determination shall be conclusive and binding upon the Borrower) that on any date for determining the Eurodollar LIBO Rate for any Interest Period, by reason of any circumstances affecting the interbank Eurodollar market generally, adequate and fair means do not exist for ascertaining the applicable interest rate on the basis provided for in the definition of Adjusted Eurodollar LIBO Rate, then, and in any such event, the Administrative Agent shall forthwith give notice (by telephone confirmed in writing) to the Borrower of such determination. Until the Administrative Agent notifies the Borrower that the circumstances giving rise to the suspension described herein no longer exist: (i) any Advance made hereunder shall bear interest at the then applicable Alternate Rate; and (ii) if any Advance affected is then outstanding, each such Advance shall immediately convert into an Advance bearing interest at the then applicable Alternate Rate with an Interest Period ending on the date on which the Interest Period applicable to the Advance affected expires.