Non-availability of Sample Clauses
The 'Non-availability of' clause defines the consequences and procedures that apply when a specified resource, service, or item is not available as anticipated under the agreement. In practice, this clause might address situations such as the unavailability of a particular product, a key individual, or a facility, and outline steps like substitution, delay, or cancellation. Its core function is to manage expectations and provide a clear process for both parties to follow in the event of non-availability, thereby reducing uncertainty and potential disputes.
Non-availability of a certificated teacher.
Non-availability of. CURRENCY Subject to the procedure set forth in Clause 5.3, if a Bank is for any reason unable to obtain Dollars or any other Permitted Currency in the London Interbank market and is, as a result, or as a result of any other contingency affecting the London Interbank market, unable to advance or maintain its Commitment in Dollars or in any other Permitted Currency, that Bank shall give notice to the Agent and the Agent shall give notice to the Borrower and that Bank's obligations to make the Facility available shall immediately cease. In that event, if all or any part of the Facility shall have been advanced by that Bank to the Borrower, the Agent in accordance with instructions from that Bank and subject to that Bank's approval of any agreement between the Agent and the Borrower, will negotiate with the Borrower in good faith with a view to establishing a mutually acceptable basis for funding the Facility or relevant part thereof from an alternative source and/or in an alternative Permitted Currency. If the Agent and the Borrower have failed to agree in writing on a basis for funding the Facility or relevant part thereof from an alternative source and/or in an alternative Permitted Currency by 11.00 a.m. on the second Business Day prior to the end of the then current relevant Interest Period, the Borrower will (without prejudice to its other obligations under or pursuant to this Agreement, including, without limitation, its obligation to pay interest on the Facility, arising on the expiry of the then relevant Interest Period) prepay the Indebtedness to the Agent on behalf of that Bank on the expiry of the then current relevant Interest Period.