Common use of Special Provisions Relating to Eurodollar Loans Clause in Contracts

Special Provisions Relating to Eurodollar Loans. (a) Unavailability of Funds or Inadequacy of Pricing. In the event that, in connection with any proposed Eurodollar Loan, Agent (i) shall have determined that U.S. Dollar deposits of the relevant amount and for the relevant Eurodollar Interest Period for Eurodollar Loans are not available to Agent in the London interbank market; or (ii) in good faith determines that the Eurodollar Interest Rate will not adequately reflect the cost to the Banks of maintaining or funding the Eurodollar Loans for such Interest Period, the obligations of the Banks to make the Eurodollar Loans, as the case may be, shall be suspended until such time as Agent in its sole discretion reasonably exercised determines that the event resulting in such suspension has ceased to exist. If Agent shall make such determination it shall promptly notify Borrower in writing and Borrower shall either repay the outstanding Eurodollar Loans, as the case may be, owed to Banks, without penalty, on the last day of the current Interest Period or convert the same to Prime Rate Loans in the case of Eurodollar Loans on the last day of the then current Interest Period for such Eurodollar Loan.

Appears in 1 contract

Samples: Loan Agreement (Clayton Williams Energy Inc /De)

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Special Provisions Relating to Eurodollar Loans. (a) Unavailability of Funds or Inadequacy of PricingUNAVAILABILITY OF FUNDS OR INADEQUACY OF PRICING. In the event that, in connection with any proposed Eurodollar Loan, Agent (i) shall have determined that U.S. Dollar deposits of the relevant amount and for the relevant Eurodollar Interest Period for Eurodollar Loans are not available to Agent in the London interbank market; or (ii) in good faith determines that the Eurodollar Interest Rate will not adequately reflect the cost to the Banks of maintaining or funding the Eurodollar Loans for such Interest Period, the obligations of the Banks to make the Eurodollar Loans, as the case may be, shall be suspended until such time as Agent in its sole discretion reasonably exercised determines that the event resulting in such suspension has ceased to exist. If Agent shall make such determination it shall promptly notify Borrower in writing and Borrower shall either repay the outstanding Eurodollar Loans, as the case may be, owed to Banks, without penalty, on the last day of the current Interest Period or convert the same to Prime Rate Loans in the case of Eurodollar Loans on the last day of the then current Interest Period for such Eurodollar Loan.

Appears in 1 contract

Samples: Loan Agreement (Clayton Williams Energy Inc /De)

Special Provisions Relating to Eurodollar Loans. (a) Unavailability of Funds or Inadequacy of Pricing. In the event that, in connection with any proposed Eurodollar Loan, Agent Bank (i) shall have determined that U.S. Dollar deposits of the relevant amount and for the relevant Eurodollar Interest Period for Eurodollar Loans are not available to Agent Bank in the London interbank market; or (ii) in good faith determines that the Eurodollar Interest Rate will not adequately reflect the cost to the Banks Bank of maintaining or funding the Eurodollar Loans for such Interest Period, the obligations of the Banks Bank to make the Eurodollar Loans, as the case may be, shall be suspended until such time as Agent Bank in its sole discretion reasonably exercised determines that the event resulting in such suspension has ceased to exist. If Agent Bank shall make such determination it shall promptly notify Borrower in writing and Borrower Borrower, at its option, shall either repay the outstanding Eurodollar Loans, as the case may be, owed to BanksBank, without penalty, on the last day of the current Interest Period or convert the same to Prime Base Rate Loans in the case of Eurodollar Loans on the last day of the then current Interest Period for such Eurodollar Loan.

Appears in 1 contract

Samples: Loan Agreement (Mallon Resources Corp)

Special Provisions Relating to Eurodollar Loans. (a) Unavailability of Funds or Inadequacy of Pricing. In the event that, in connection with any proposed Eurodollar Loan, Agent (i) shall have determined that U.S. Dollar deposits of the relevant amount and for the relevant Eurodollar Interest Period for Eurodollar Loans are not available to Agent the Banks in the London interbank market; or (ii) in good faith determines that the Eurodollar Interest Rate will not adequately reflect the cost to the Banks of maintaining or funding the Eurodollar Loans for such Interest Period, the obligations of the Banks to make the Eurodollar Loans, as the case may be, shall be suspended until such time as Agent Bank in its sole discretion reasonably exercised determines that the event resulting in such suspension has ceased to exist. If the Agent shall make such determination it shall promptly notify Borrower in writing and Borrower shall either repay the outstanding Eurodollar Loans, as the case may be, owed to BanksBank, without penalty, on the last day of the current Interest Period or convert the same to Prime Rate Loans in the case of Eurodollar Loans on the last day of the then current Interest Period for such Eurodollar Loan.

Appears in 1 contract

Samples: Senior Secured Loan Agreement (Southwest Royalties Holdings Inc)

Special Provisions Relating to Eurodollar Loans. (a) Unavailability of Funds or Inadequacy of Pricing. In the event that, in connection with any proposed Eurodollar Loan, Agent any Bank (i) shall have determined that U.S. Dollar deposits of the relevant amount and for the relevant Eurodollar Interest Period for Eurodollar Loans are not available to Agent such Bank in the London interbank market; or (ii) in good faith determines that the Eurodollar Interest Rate will not adequately reflect the cost to the Banks such Bank of maintaining or funding the Eurodollar Loans for such Interest Period, the obligations of the Banks to make the Eurodollar Loans, as the case may be, shall be suspended until such time as Agent such Bank in its sole discretion reasonably exercised determines that the event resulting in such suspension has ceased to exist. If Agent any Bank shall make such determination it shall promptly notify the Agent in writing, Agent shall promptly notify Borrower in writing writing, and Borrower shall either repay the outstanding Eurodollar Loans, as the case may be, Loans owed to Bankssuch Bank, without penalty, on the last day of the current Interest Period or convert the same to Prime Base Rate Loans in the case of Eurodollar Loans on the last day of the then current Interest Period for such Eurodollar Loan.

Appears in 1 contract

Samples: Credit Agreement (Newpark Resources Inc)

Special Provisions Relating to Eurodollar Loans. (a) Unavailability of Funds or Inadequacy of Pricing. In the event that, in connection with any proposed Eurodollar Loan, Agent any Bank (i) shall have determined that U.S. Dollar deposits of the relevant amount and for the relevant Eurodollar Interest Period for Eurodollar Loans are not available to Agent such Bank in the London interbank market; or (ii) in good faith determines that the Eurodollar Interest Rate will not adequately reflect the cost to the Banks of maintaining or funding the Eurodollar Loans for such Interest Period, the obligations of the Banks to make the Eurodollar Loans, as the case may be, shall be suspended until such time as Agent such Bank in its sole discretion reasonably exercised determines that the event resulting in such suspension has ceased to exist. If Agent any Bank shall make such determination it shall promptly notify the Agent in writing, and Agent shall promptly notify Borrower in writing writing, and Borrower shall either repay the outstanding Eurodollar Loans, as the case may be, owed to Banks, without penalty, on the last day of the current Interest Period or convert the same to Prime Base Rate Loans in the case of Eurodollar Loans on the last day of the then current Interest Period for such Eurodollar Loan.

Appears in 1 contract

Samples: Credit Agreement (Global Industries LTD)

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Special Provisions Relating to Eurodollar Loans. (a) Unavailability of Funds or Inadequacy of Pricing. In the event that, in connection with any proposed Eurodollar Loan, Agent Bank (i) shall have determined that U.S. Dollar deposits of the relevant amount and for the relevant Eurodollar Interest Period for Eurodollar Loans are not available to Agent Bank in the London interbank market; or (ii) in good faith determines that the Eurodollar Interest Rate will not adequately reflect the cost to the Banks Bank of maintaining or funding the Eurodollar Loans for such Interest Period, the obligations of the Banks Bank to make the Eurodollar Loans, as the case may be, shall be suspended until such time as Agent such Bank in its sole discretion reasonably exercised determines that the event resulting in such suspension has ceased to exist. If Agent Bank shall make such determination it shall promptly notify Borrower in writing writing, and Borrower shall either repay the outstanding Eurodollar Loans, as the case may be, owed to BanksBank, without penalty, on the last day of the current Interest Period or convert the same to Prime Base Rate Loans in the case of Eurodollar Loans on the last day of the then current Interest Period for such Eurodollar Loan.

Appears in 1 contract

Samples: Loan Agreement (Brigham Exploration Co)

Special Provisions Relating to Eurodollar Loans. (a) Unavailability of Funds or Inadequacy of Pricing. In the event that, in connection with any proposed Eurodollar Loan, Agent any Bank (i) shall have determined that U.S. Dollar deposits of the relevant amount and for the relevant Eurodollar Interest Period for Eurodollar Loans are not available to Agent such Bank in the London interbank market; or (ii) in good faith determines that the Eurodollar Interest Rate will not adequately reflect the cost to the Banks of maintaining or funding the Eurodollar Loans for such Interest Period, the obligations of the Banks to make the Eurodollar Loans, as the case may be, shall be suspended until such time as Agent such Bank in its sole discretion reasonably exercised determines that the event resulting in such suspension has ceased to exist. If Agent any Bank shall make such determination it shall promptly notify Borrower the Agent in writing writing, and Borrower Agent shall promptly notify Borrowers in writing, and Borrowers shall either repay the outstanding Eurodollar Loans, as the case may be, owed to Banks, without penalty, on the last day of the current Interest Period or convert the same to Prime Base Rate Loans in the case of Eurodollar Loans on the last day of the then current Interest Period for such Eurodollar Loan.

Appears in 1 contract

Samples: Credit Agreement (Atwood Oceanics Inc)

Special Provisions Relating to Eurodollar Loans. (a) Unavailability of Funds or Inadequacy of Pricing. In the event thatIf, in connection with ------------------------------------------------ any proposed Eurodollar Loan, Agent Bank (i) shall have determined that U.S. Dollar deposits of the relevant amount and for the relevant Eurodollar Interest Period for any Eurodollar Loans Loan are not available to Agent Bank in the London interbank market; or (ii) in good faith determines that the Eurodollar Interest Rate will not adequately reflect the cost to the Banks Bank of maintaining or funding the a Eurodollar Loans Loan for such Interest Period, then in either case the obligations of the Banks Bank to make the a Eurodollar Loans, as the case may be, Loan shall be suspended until such time as Agent Bank in its sole discretion reasonably exercised determines that the event resulting in such suspension has ceased to exist. If Agent Bank shall make such determination it shall promptly notify Borrower in writing and Borrower shall either repay the any outstanding Eurodollar Loans, as the case may be, Loan owed to BanksBank, without penalty, on the last day of the current Eurodollar Interest Period Period, or convert the same to a Prime Rate Loans in the case of Eurodollar Loans Loan on the last day of the then current Eurodollar Interest Period for such Eurodollar Loan.

Appears in 1 contract

Samples: Loan Agreement (Diagnostic Health Services Inc /De/)

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