Common use of LIBOR Notification Clause in Contracts

LIBOR Notification. Section 4.5.4 [Successor LIBOR Rate Index] of this Agreement provides a mechanism for determining an alternative rate of interest in the event that the London interbank offered rate is no longer available or in certain other circumstances. The Administrative Agent will notify the Borrower that the Administrative Agent has determined that the circumstances under Section 4.5.4(i) exist as promptly as practicable thereafter and in advance of any change to the reference rate upon which the interest rate on Loans under the LIBOR Rate Option is based. The Administrative Agent does not warrant or accept any responsibility for and shall not have any liability with respect to, the administration, submission or any other matter related to the London interbank offered rate or other rates in the definition of "LIBOR Rate" or with respect to any alternative or successor rate thereto, or replacement rate therefor.

LIBOR Notification. Section 4.5.4 [Successor LIBOR Rate Index] of this Agreement provides a mechanism for determining an alternative rate of interest in the event that the London interbank offered rate is no longer available or in certain other circumstances. The Administrative Agent will notify the Borrower that the Administrative Agent has determined that the circumstances under Section 4.5.4(i) exist as promptly as practicable thereafter and in advance of any change to the reference rate upon which the interest rate on Loans under the LIBOR Rate Option is based. The Administrative Agent does not warrant or accept any responsibility for and shall not have any liability with respect to, the administration, submission or any other matter related to the London interbank offered rate or other rates in the definition of "“LIBOR Rate" ” or with respect to any alternative or successor rate thereto, or replacement rate therefor.

LIBOR Notification. Section 4.5.4 [Successor LIBOR Rate Index] of this Agreement provides a mechanism for determining an alternative rate of interest in the event that the London interbank offered rate is no longer available or in certain other circumstances. The Administrative Agent will notify the Borrower that the Administrative Agent has determined that the circumstances under Section 4.5.4(i) exist as promptly as practicable thereafter and in advance of any change to the reference rate upon which the interest rate on Loans under the LIBOR Rate Option is based. The Administrative Agent does not warrant or accept any responsibility for and shall not have any liability with respect to, the administration, submission or any other matter related to the London interbank offered rate or other rates in the definition of "“LIBOR Rate" ” or with respect to any alternative or successor rate thereto, or replacement rate therefor.