Reference Bank quotations Sample Clauses
The 'Reference Bank quotations' clause defines the method for determining interest rates or other financial benchmarks by obtaining quotes from designated reference banks. In practice, if a standard rate (such as LIBOR or EURIBOR) is unavailable or cannot be determined from published sources, the clause requires the parties to solicit rate quotations from a specified number of major banks in the relevant market. This mechanism ensures that a reliable and fair rate can still be established, thereby maintaining the continuity of financial contracts and preventing disputes or uncertainty when standard reference rates are inaccessible.
Reference Bank quotations. If any Reference Bank is unable on reasonable grounds to furnish a quotation for the purposes of calculating LIBOR the interest rate shall be determined, subject to clause 3.6, on the basis of quotations furnished by the other Reference Banks.
Reference Bank quotations. If any Reference Bank is unable or otherwise fails to furnish a quotation for the purpose of calculating LIBOR pursuant to the proviso contained in the definition of LIBOR the interest rate shall be determined, subject to Clause 8.5, on the basis of the quotations furnished by the remaining Reference Banks.
Reference Bank quotations. If any Reference Bank is unable or otherwise fails to furnish a quotation for the purpose of calculating LIBOR (where such a quotation is required having regard to paragraph (b) of the definition of “LIBOR” in clause 1.2) the interest rate for the relevant Interest Period shall be determined, subject to clause 5.6, on the basis of the quotations furnished by the remaining Reference Banks in accordance with the procedure set out in paragraph (b) of the definition of “LIBOR” in clause 1.2.
Reference Bank quotations. If any Reference Bank is unable or otherwise fails to furnish a quotation for the purpose of calculating LIBOR or EURIBOR (as appropriate) where such quotation is required having regard to the definitions of "LIBOR" and "EURIBOR" in clause 1.2, the interest rate for the relevant Term or other period shall be determined, subject to clause 6.6, on the basis of the quotations furnished by the remaining EURIBOR Reference Bank or LIBOR Reference Banks (as the case may be).
Reference Bank quotations. 16 5.7 Market disruption; non-availability............................................ 16 5.8
Reference Bank quotations. This Clause is subject to Clause 10.2 (Market disruption). If:
(a) the Lender must determine LIBOR using quotations from the Reference Banks; and
(b) one Reference Bank does not supply a quotation by 11 a.m. on the Quotation Day, the Lender must determine LIBOR using the quotations from the other Reference Banks.
Reference Bank quotations. If (at any time when Reference Bank quotations are required having regard to the definition of "EURIBOR" in clause 1.2) any Reference Bank is unable or otherwise fails to furnish a quotation for the purpose of calculating EURIBOR, the interest rate for the relevant Term, Interest Period or other period shall be determined, subject to clause 5.9, on the basis of the quotations furnished by the remaining Reference Banks.
Reference Bank quotations. 54 6 Repayment, prepayment, cancellation and reductions.......................................... 54
Reference Bank quotations. If LIBOR falls to be calculated pursuant to paragraph (b) of the definition of “LIBOR” and any Reference Bank is unable or otherwise fails to quote a rate for the purpose of calculating LIBOR, LIBOR shall be determined, subject to clause 3.5, on the basis of the rates quoted by the other Reference Banks.
Reference Bank quotations. Subject to clause 7.9 (ii) (which applies in the event that none or only one of the Reference Banks supplies the Lenders with a quotation for the purpose of calculating LIBOR), if any Reference Bank is unable or otherwise fails to furnish a quotation for the purpose of calculating LIBOR, the interest rate shall be determined or the basis of the quotations furnished by the remaining Reference Banks.