Common use of Discretion of Banks as to Manner of Funding Clause in Contracts

Discretion of Banks as to Manner of Funding. Notwithstanding any provisions of this Agreement to the contrary, each Bank shall be entitled to fund and maintain its funding of all or any part of its Commitment in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder shall be made as if such Bank had actually funded and maintained each Eurodollar Tranche during the Interest Period for such Eurodollar Tranche through the purchase of deposits having a maturity corresponding to the last day of such Interest Period and bearing an interest rate equal to the Adjusted Eurodollar Rate for such Interest Period.

Appears in 3 contracts

Samples: Credit Agreement (Patina Oil & Gas Corp), Credit Agreement (Triton Energy LTD), Credit Agreement (Mariner Energy Inc)

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Discretion of Banks as to Manner of Funding. Notwithstanding ------------------------------------------- any provisions of this Agreement to the contrary, each Bank shall be entitled to fund and maintain its funding of all or any part of its Commitment in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder shall be made as if such Bank had actually funded and maintained each Eurodollar Tranche Loan during the Interest Period for such Eurodollar Tranche Loan through the purchase of deposits having a maturity corresponding to the last day of such Interest Period and bearing an interest rate equal to the Adjusted Eurodollar Rate for such Interest Period.

Appears in 2 contracts

Samples: Credit Agreement (Denbury Resources Inc), Credit Agreement (Quicksilver Resources Inc)

Discretion of Banks as to Manner of Funding. Notwithstanding any provisions of this Agreement to the contrary, each Bank shall be entitled to fund and maintain its funding of all or any part of its Commitment Advances in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder shall be made as if such Bank had actually funded and maintained each Eurodollar Tranche Advance during the Interest Period for such Eurodollar Tranche Advance through the purchase of deposits in the London interbank market having a maturity corresponding to the last day of such Interest Period and bearing an interest rate equal to the Adjusted Eurodollar Rate for such Interest Period.

Appears in 1 contract

Samples: Credit Agreement (Wiser Oil Co)

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Discretion of Banks as to Manner of Funding. Notwithstanding any provisions of this Agreement to the contrary, each Bank shall be entitled to fund and maintain its funding of all or any part of its Commitment Loans in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder shall be made as if such Bank had actually funded and maintained each Eurodollar Tranche Loan during the Interest Period for 35 such Eurodollar Tranche Loan through the purchase of deposits having a maturity corresponding to the last day of such Interest Period and bearing an interest rate equal to the Adjusted Eurodollar Rate for such Interest Period.

Appears in 1 contract

Samples: Credit Agreement (Berry Petroleum Co)

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