Common use of Base Rate Loans Pursuant to Sections Clause in Contracts

Base Rate Loans Pursuant to Sections. 5.01, 5.02 and 5.03. If the obligation of any Lender to make Eurodollar Loans shall be suspended pursuant to Sections 5.01, 5.02 or 5.03 ("Affected Loans"), all Affected Loans which would otherwise be made by such Lender shall be made instead as Base Rate Loans (and, if an event referred to in Section 5.01(b) or Section 5.03 has occurred and such Lender so requests by notice to the Borrower, all Affected Loans of such Lender then outstanding shall be automatically converted into Base Rate Loans on the date specified by such Lender in such notice) and, to the extent that Affected Loans are so made as (or converted into) Base Rate Loans, all payments of principal which would otherwise be applied to such Lender's Affected Loans shall be applied instead to its Base Rate Loans.

Appears in 3 contracts

Samples: Credit Agreement (Bargo Energy Co), Credit Agreement (DLB Oil & Gas Inc), Senior Revolving Credit Agreement (Transcoastal Marine Services Inc)

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Base Rate Loans Pursuant to Sections. 5.01, 5.02 and 5.03. If the obligation of any Lender Bank to make Eurodollar Loans shall be suspended pursuant to Sections 5.01, 5.02 or 5.03 ("Affected Loans"), all Affected Loans which would otherwise be made by such Lender Bank shall be made instead as Base Rate Loans (and, if an event referred to in Section 5.01(b) or Section 5.03 has occurred and such Lender Bank so requests by notice to the BorrowerCompany, all Affected Loans of such Lender Bank then outstanding shall be automatically converted into Base Rate Loans on the date specified by such Lender Bank in such notice) and, to the extent that Affected Loans are so made as (or converted into) Base Rate Loans, all payments of principal which would otherwise be applied to such LenderBank's Affected Loans shall be applied instead to its Base Rate Loans.

Appears in 2 contracts

Samples: Credit Agreement (Newfield Exploration Co /De/), Credit Agreement (Newfield Exploration Co /De/)

Base Rate Loans Pursuant to Sections. 5.01, 5.02 and 5.03. 5.03 If the obligation of any Lender to make Eurodollar LIBOR Loans shall be suspended pursuant to Sections 5.01, 5.02 or 5.03 ("Affected Loans"), all Affected Loans which would otherwise be made by such Lender shall be made instead as Base Rate Loans (and, if an event referred to in Section 5.01(b5.01(a) or Section 5.03 has occurred and such Lender so requests by notice to the Borrower, all Affected Loans of such Lender then outstanding shall be automatically converted into Base Rate Loans on the date specified by such Lender in such notice) and, to the extent that Affected Loans are so made as (or converted into) Base Rate Loans, all payments of principal which would otherwise be applied to such Lender's ’s Affected Loans shall be applied instead to its Base Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Earthstone Energy Inc)

Base Rate Loans Pursuant to Sections. 5.01, 5.02 and 5.03. If the obligation of any Lender to make Eurodollar LIBOR Loans shall be suspended pursuant to Sections 5.01, 5.02 or 5.03 ("Affected Loans"), all Affected Loans which would otherwise be made by such Lender shall be made instead as Base Rate Loans (and, if an event referred to in Section 5.01(b) or Section 5.03 has occurred and such Lender so requests by notice to the Borrower, all Affected Loans of such Lender then outstanding shall be automatically converted into Base Rate Loans on the date specified by such Lender in such notice) and, to the extent that Affected Loans are so made as (or converted into) Base Rate Loans, all payments of principal which would otherwise be applied to such Lender's ’s Affected Loans shall be applied instead to its Base Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Isramco Inc)

Base Rate Loans Pursuant to Sections. 5.01, 5.02 5.01 and 5.035.02. If the obligation of any Lender to make Eurodollar Loans accept and purchase Bankers' Acceptances shall be suspended pursuant to Sections 5.01, Section 5.01 or 5.02 or 5.03 ("Affected Loans"), all Affected Loans which would otherwise be made available by such Lender shall be made instead as Base Rate Loans (and, if an event referred to in Section 5.01(b5.01(a) or Section 5.03 5.02 has occurred and such Lender so requests by notice to the BorrowerCompany with a copy to the Administrative Agent, all Affected Loans of such Lender then outstanding shall be automatically converted into Base Rate Loans Loans, subject to Section 5.05, on the date specified by such Lender in such notice) and, to the extent that Affected Loans are so made as (or converted into) Base Rate Loans, all payments of principal which would otherwise be applied to such Lender's Affected Loans shall be applied instead to its Base Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Ocean Energy Inc)

Base Rate Loans Pursuant to Sections. 5.01, 5.02 5.1 and 5.035.3. If the obligation of any Lender Bank to make Eurodollar any Type of Fixed Rate Loans shall be suspended pursuant to Sections 5.01, 5.02 Section 5.1 or 5.03 5.3 hereof (Loans of such Type being herein called "Affected Loans" and such Type being herein called the "Affected Type"), all Affected Loans which would otherwise be made by such Lender Bank as Loans of the Affected Type shall be made instead as Base Rate Loans (and, if an the event referred to in Section 5.01(b5.1(b) or Section 5.03 5.3 hereof has occurred and such Lender Bank so requests by notice to the BorrowerBorrowers, all Affected Loans of such Lender Bank then outstanding to the extent required by the applicable Regulatory Change shall be automatically converted into Base Rate Loans converted, on the date specified by such Lender Bank, in such notice, into Base Rate Loans) and, to the extent that Affected Loans are so made as (or converted into) Base Rate Loans, all payments of principal which would otherwise be applied to such Lender's the Affected Loans shall be applied instead to its Base Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Charter Communications Southeast Lp)

Base Rate Loans Pursuant to Sections. 5.01, 5.02 and 5.03. If the obligation of any Lender to make Eurodollar LIBOR Loans shall be suspended pursuant to Sections 5.01, 5.02 or 5.03 ("Affected Loans"), all Affected Loans which would otherwise be made by such Lender shall be made instead as Base Rate Loans (and, if an event referred to in Section 5.01(b) or Section 5.03 has occurred and such Lender so requests by notice to the Borrower, all Affected Loans of such Lender then outstanding shall be automatically converted into Base Rate Loans on the date specified by such Lender in such notice) and, to the extent that Affected Loans are so made as (or converted into) Base Rate Loans, all payments of principal which would otherwise be applied to such Lender's ’s Affected Loans shall be applied instead to its Base Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Atlas America Inc)

Base Rate Loans Pursuant to Sections. 5.01, 5.02 and 5.03. If the obligation of any Lender to make Eurodollar LIBOR Loans shall be suspended pursuant to Sections 5.01, 5.02 or 5.03 ("Affected Loans"), all Affected Loans which would otherwise be made by such Lender shall be made instead as Base Rate Loans (and, if an event referred to in Section 5.01(b) or Section 5.03 has occurred and such Lender so requests by notice to the Borrower, all Affected Loans of such Lender then outstanding shall be automatically converted into Base Rate Loans on the date specified by such Lender in such notice) and, to the extent that Affected Loans are so made as (or converted into) Base Rate Loans, all payments of principal which would otherwise be applied to such Lender's Affected Loans shall be applied instead to its Base Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Isramco Inc)

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Base Rate Loans Pursuant to Sections. 5.01, 5.02 and 5.03. If the obligation of any Lender to make Eurodollar LIBOR Loans shall be suspended pursuant to Sections 5.01, 5.02 or 5.03 ("Affected Loans"), all Affected Loans which would otherwise be made by such Lender shall be made instead as Base Rate Loans (and, if an event referred to in Section 5.01(b) 5.01 or Section 5.03 has occurred and such Lender so requests by notice to the Borrower, all Affected Loans of such Lender then outstanding shall be automatically converted into Base Rate Loans on the date specified by such Lender in such notice) and, to the extent that Affected Loans are so made as (or converted into) Base Rate Loans, all payments of principal which would otherwise be applied to such Lender's ’s Affected Loans shall be applied instead to its Base Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Crimson Exploration Inc.)

Base Rate Loans Pursuant to Sections. 5.01, 5.02 and 5.03. If the obligation of any Lender to make Eurodollar LIBOR Loans shall be suspended pursuant to Sections 5.01, 5.02 or 5.03 ("Affected LoansAFFECTED LOANS"), all Affected Loans which would otherwise be made by such Lender shall be made instead as Base Rate Loans (and, if an event referred to in Section 5.01(b) 5.01 or Section 5.03 has occurred and such Lender so requests by notice to the Borrower, all Affected Loans of such Lender then outstanding shall be automatically converted into Base Rate Loans on the date specified by such Lender in such notice) and, to the extent that Affected Loans are so made as (or converted into) Base Rate Loans, all payments of principal which would otherwise be applied to such Lender's Affected Loans shall be applied instead to its Base Rate Loans.. CREDIT AGREEMENT

Appears in 1 contract

Samples: Credit Agreement (Mission Resources Corp)

Base Rate Loans Pursuant to Sections. 5.01, 5.02 and 5.03. If the obligation of any Lender to make Eurodollar LIBOR Loans shall be suspended pursuant to Sections 5.01, 5.02 or 5.03 ("Affected Loans"), all Affected Loans which would otherwise be made by such Lender shall be made instead as Base Rate Loans (and, if an event referred to in Section 5.01(b) or Section 5.03 has occurred and such Lender so requests by notice to the Borrower, all Affected Loans of such Lender then outstanding shall be automatically converted into Base Rate Loans on the date specified by such Lender in such notice) and, to the extent that Affected Loans are so made as (or converted into) Base Rate Loans, all payments of principal which would otherwise be applied to such Lender's Affected Loans shall be applied instead to its Base Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Callon Petroleum Co)

Base Rate Loans Pursuant to Sections. 5.01, 5.02 and 5.03. If the obligation of any Lender to make Eurodollar Loans shall be suspended pursuant to Sections 5.01, 5.02 or 5.03 ("Affected Loans"), all Affected Loans which would otherwise be made by such Lender shall be made instead as Base Rate Loans (and, if an event referred to in Section 5.01(a), Section 5.01(b) or Section 5.03 has occurred and such Lender so requests by notice to the Borrower, all Affected Loans of such Lender then outstanding shall be automatically converted at the end of the applicable Interest Period (unless otherwise required by Governmental Requirement) into Base Rate Loans on the date specified by such Lender in such notice) Loans), and, to the extent that Affected Loans are so made as (or converted into) Base Rate Loans, all payments of principal which would otherwise be applied to such Lender's Affected Loans shall be applied instead to its Base Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Eex Corp)

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