Common use of Change of Reference Bank Clause in Contracts

Change of Reference Bank. If any Reference Bank ceases to provide quotations to the Facility Agent for the purposes of determining LIBOR, the Facility Agent may, acting on the instructions of the Majority Lenders, terminate the appointment of such Reference Bank and appoint another bank to replace it as a Reference Bank.

Appears in 2 contracts

Samples: Agreement (Paragon Shipping Inc.), Credit Agreement (DryShips Inc.)

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Change of Reference Bank. If any the Reference Bank ceases to provide quotations to the Facility Agent for the purposes of determining LIBOR, LIBOR or the Facility Mandatory Cost the Agent may, acting on the instructions of the Majority Lenders, may terminate the appointment of such Reference Bank and appoint another bank or financial institution to replace it as a the Reference Bank.

Appears in 2 contracts

Samples: Supplemental Agreement (Diana Shipping Inc.), Loan Agreement (Diana Shipping Inc.)

Change of Reference Bank. If any the Reference Bank ceases to provide quotations to the Facility Agent for the purposes of determining LIBOR, LIBOR the Facility Agent may, acting on the instructions of the Majority LendersBanks, terminate the appointment of such the Reference Bank and appoint another bank Bank acceptable to the Borrowers to replace it as a Reference Bank.

Appears in 1 contract

Samples: Loan Agreement (Euronav NV)

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Change of Reference Bank. If any the Reference Bank ceases to provide quotations to the Facility Agent for the purposes of determining LIBORLIBOR or the Mandatory Cost, the Facility Agent may, acting on the instructions of the Majority Lenders, may terminate the appointment of such Reference Bank and appoint another bank or financial institution to replace it as a the Reference Bank.

Appears in 1 contract

Samples: Loan Agreement (DryShips Inc.)

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