Common use of Changes in Market Conditions Clause in Contracts

Changes in Market Conditions. If, by reason of circumstances affecting any relevant interbank market generally, it is or may be impossible or impractical for the Lender to obtain the relevant currency in that market (and accordingly it is impossible or impractical for it to make, fund or maintain a Facility or a Drawing or a Loan or any other amount under a Loan Agreement and/or the Security Documents, or all or any of the amounts comprised in a class of advances formed by or including a Facility, a Drawing or a Loan) for any period, the Lender is to notify the Borrower promptly and: (a) if the Drawing or Loan has not been made, the obligation of the Lender to make the Drawing or Loan available will be cancelled or suspended as the Lender may elect; and (b) if the Drawing or Loan has been made, the Borrower will repay the Drawing or Loan and all other indebtedness of the Borrower and the Relevant Parties under each Loan Agreement and/or the Security Documents either immediately or, as the Lender elects, on the next date for payment of interest. Without prejudice to the Borrower’s obligations to repay, the Borrower and the Lender are to negotiate in good faith with a view to agreeing terms for making the relevant Facility, Drawing or Loan available from another source. However, the Lender is under no obligation to agree to terms or to continue those negotiations if terms are not agreed promptly.