Common use of Limits on Libor Advances Clause in Contracts

Limits on Libor Advances. Nothing in this Agreement shall be interpreted as authorizing the Borrower to borrow by way of Libor Advances for a Designated Period expiring on a date which results in a situation where the applicable Credit Facility cannot be reduced as required by this Agreement, or on a date which is after the expiry of the applicable Term.

Limits on Libor Advances. Nothing in this Agreement shall be interpreted as authorizing the Borrower to borrow by way of Libor Advances for a Designated Period expiring on a date which results in a situation where the applicable Credit Term Facility B cannot be reduced as required by this Agreement, or on a date which is after the expiry of the applicable Term.