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

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 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 Loans or to accept and purchase Bankers' Acceptances 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) 5.02 or Section 5.03 has occurred and such Lender so requests by notice to the BorrowerObligors, 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, provided that, if the law so allows, such Loans shall continue as a Eurodollar Loan or Bankers' Acceptance, as applicable, until the end of the applicable Interest Period or BA Interest Period) 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 (Petrocorp 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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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. 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 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.)

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