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

Special Provisions Relating to Eurodollar Loans. Unavailability of Funds or Inadequacy of Pricing. In the event that, in connection with any proposed Eurodollar Loan, 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 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 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 such Bank in its sole discretion reasonably exercised determines that the event resulting in such suspension has ceased to exist. If any Bank shall make such determination it shall promptly notify the Agent in writing, Agent shall promptly notify Borrower in writing, and Borrower shall either repay the outstanding Eurodollar Loans owed to such Bank, without penalty, on the last day of the current Interest Period or convert the same to 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)

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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, 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 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 such Bank 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 such Bank in its sole discretion reasonably exercised determines that the event resulting in such suspension has ceased to exist. If any Bank shall make such determination it shall promptly notify the Agent in writing, and Agent shall promptly notify Borrower in writing, and Borrower shall either repay the outstanding Eurodollar Loans Loans, as the case may be, owed to such BankBanks, without penalty, on the last day of the current Interest Period or convert the same to 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)

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, 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 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 such the 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 such as Bank in its sole discretion reasonably exercised determines that the event resulting in such suspension has ceased to exist. If any Bank shall make such determination it shall promptly notify the Agent in writing, Agent shall promptly notify Borrower in writingwriting and Borrower, and Borrower at its option, shall either repay the outstanding Eurodollar Loans Loans, as the case may be, owed to such Bank, without penalty, on the last day of the current Interest Period or convert the same to 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 thatIf, in connection with ------------------------------------------------ any proposed Eurodollar Loan, any 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 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 such 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 such as Bank in its sole discretion reasonably exercised determines that the event resulting in such suspension has ceased to exist. If 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 any outstanding Eurodollar Loans Loan owed to such Bank, without penalty, on the last day of the current Eurodollar Interest Period Period, or convert the same to Base 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/)

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, any Bank 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 such Bank Agent in the London interbank market; or (ii) in good faith determines that the Eurodollar Interest Rate will not adequately reflect the cost to such Bank 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 such Bank as Agent in its sole discretion reasonably exercised determines that the event resulting in such suspension has ceased to exist. If any Bank Agent 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 Loans, as the case may be, owed to such BankBanks, without penalty, on the last day of the current Interest Period or convert the same to Base 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, 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 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 such the 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 such Bank in its sole discretion reasonably exercised determines that the event resulting in such suspension has ceased to exist. If any Bank shall make such determination it shall promptly notify the Agent in writing, Agent shall promptly notify Borrower in writing, and Borrower shall either repay the outstanding Eurodollar Loans Loans, as the case may be, owed to such Bank, without penalty, on the last day of the current Interest Period or convert the same to 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)

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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, any Bank 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 such Bank 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 such Bank 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 such as Bank in its sole discretion reasonably exercised determines that the event resulting in such suspension has ceased to exist. If any Bank the Agent 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 Loans, as the case may be, owed to such Bank, without penalty, on the last day of the current Interest Period or convert the same to Base 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, 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 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 such Bank 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 such Bank in its sole discretion reasonably exercised determines that the event resulting in such suspension has ceased to exist. If any Bank shall make such determination it shall promptly notify the Agent in writing, and Agent shall promptly notify Borrower Borrowers in writing, and Borrower Borrowers shall either repay the outstanding Eurodollar Loans Loans, as the case may be, owed to such BankBanks, without penalty, on the last day of the current Interest Period or convert the same to 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. Unavailability of Funds or Inadequacy of Pricing(a) UNAVAILABILITY OF FUNDS OR INADEQUACY OF PRICING. In the event that, in connection with any proposed Eurodollar Loan, any Bank 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 such Bank Agent in the London interbank market; or (ii) in good faith determines that the Eurodollar Interest Rate will not adequately reflect the cost to such Bank 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 such Bank as Agent in its sole discretion reasonably exercised determines that the event resulting in such suspension has ceased to exist. If any Bank Agent 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 Loans, as the case may be, owed to such BankBanks, without penalty, on the last day of the current Interest Period or convert the same to Base 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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