Common use of Interest Rate Unascertainable, Inadequate or Unfair Clause in Contracts

Interest Rate Unascertainable, Inadequate or Unfair. In the event that (A) the Administrative Agent determines in good faith that adequate and fair means do not exist for ascertaining the applicable interest rates by reference to which the LIBOR Rate is determined or (B) the Required Lenders determine in good faith and notify the Administrative Agent that the LIBOR Rate for any Interest Period will not adequately reflect the cost to the Lenders of making or maintaining such Loans for such Interest Period, the Administrative Agent shall promptly so notify the Borrower and the Lenders, whereupon the obligation of each Lender to make or to continue LIBOR Rate Loans shall be suspended as provided in clause (c) below until the Administrative Agent shall notify the Borrower that Required Lenders have determined that the circumstances causing such suspension no longer exist. The Administrative Agent and each such Lender shall promptly so notify the Borrower once such circumstances no longer exist; provided that the Administrative Agent shall not be liable as Administrative Agent for any failure to give such notice.

Interest Rate Unascertainable, Inadequate or Unfair. In the event that (A) the Administrative Agent determines in good faith that adequate and fair means do not exist for ascertaining the applicable interest rates by reference to which the LIBOR LIBO Rate is determined or (B) the Required Lenders determine in good faith and notify the Administrative Agent that the LIBOR LIBO Rate for any Interest Period will not adequately reflect the cost to the Lenders of making or maintaining such Loans for such Interest Period, the Administrative Agent shall promptly so notify the Borrower and the Lenders, whereupon the obligation of each Lender to make or to continue LIBOR LIBO Rate Loans shall be suspended as provided in clause (c) below until until, in the case of (A) above, the Administrative Agent shall notify the Borrower that Required Lenders have determined that the circumstances causing such suspension no longer exist. The Administrative Agent and each such Lender shall promptly so notify , or, in the Borrower once case of (B) above, that it has been notified by the Required Lenders that such circumstances no longer exist; provided that the Administrative Agent shall not be liable as Administrative Agent for any failure to give such notice.