Special Provisions Relating to Loans. (a) UNAVAILABILITY OF FUNDS OR INADEQUACY OF PRICING. In the event that, in connection with any proposed Eurodollar Loan, the Agent reasonably determines, which determination shall, absent manifest error, be final, conclusive and binding upon all parties, due to changes in circumstances since the date hereof, adequate and fair means do not exist for determining the Eurodollar Rate or such rate will not accurately reflect the costs to the Lenders of funding Eurodollar Loan for such Interest Period, the Agent shall give notice of such determination to the Borrowers and the Lenders, whereupon, until the Agent notifies the Borrowers and the Lenders that the circumstances giving rise to such suspension no longer exist, the obligations of the Lenders to make, continue or convert Loan into Eurodollar Loan shall be suspended, and all loans to Borrowers shall be Base Rate Loan during the period of suspension.
Appears in 1 contract
Samples: Credit Agreement (3tec Energy Corp)
Special Provisions Relating to Loans. (a) UNAVAILABILITY OF FUNDS OR INADEQUACY OF PRICING. In the event that, in connection with any proposed Eurodollar Loan, the Administrative Agent reasonably determines, which determination shall, absent manifest error, be final, conclusive and binding upon all parties, due to changes in circumstances since the date hereof, adequate and fair means do not exist for determining the Eurodollar Rate or such rate will not accurately reflect the costs to the Lenders of funding Eurodollar Loan for such Eurodollar Interest Period, the Administrative Agent shall give notice of such determination to the Borrowers Borrower and the Lenders, whereupon, until the Administrative Agent notifies the Borrowers Borrower and the Lenders that the circumstances giving rise to such suspension no longer exist, the obligations of the Lenders to make, continue or convert a Loan into a Eurodollar Loan shall be suspended, and all loans to Borrowers Borrower shall be Base Rate Loan Loans during the period of suspension.
Appears in 1 contract
Special Provisions Relating to 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, the Administrative Agent reasonably determines, which determination shall, absent manifest error, be final, conclusive and binding upon all parties, due to changes in circumstances since the date hereof, adequate and fair means do not exist for determining the Eurodollar Rate or such rate will not accurately reflect the costs to the Lenders of funding Eurodollar Loan for such Eurodollar Interest Period, the Administrative Agent shall give notice of such determination to the Borrowers Borrower and the Lenders, whereupon, until the Administrative Agent notifies the Borrowers Borrower and the Lenders that the circumstances giving rise to such suspension no longer exist, the obligations of the Lenders to make, continue or convert a Loan into a Eurodollar Loan shall be suspended, and all loans to Borrowers Borrower shall be Base Rate Loan Loans during the period of suspension.
Appears in 1 contract
Special Provisions Relating to Loans. (a) UNAVAILABILITY OF FUNDS OR INADEQUACY OF PRICING. In the event that, in connection with any proposed Eurodollar Loan, the Administrative Agent reasonably determines, which determination shall, absent manifest error, be final, conclusive and binding upon all parties, due to changes in circumstances since the date hereof, adequate and fair means do not exist for determining the Eurodollar Rate or such rate will not accurately reflect the costs to the Lenders of funding Eurodollar Loan for such Eurodollar Interest Period, the Administrative Agent shall give notice of such determination to the Borrowers Borrower and the Lenders, whereupon, until the Administrative Agent notifies the Borrowers Borrower and the Lenders that the circumstances giving rise to such suspension no longer exist, the obligations of the Lenders to make, continue or convert a Loan into a Eurodollar Loan shall be suspended, and all loans to Borrowers Borrower shall be Base Rate Loan Loans during the period of suspension.
Appears in 1 contract
Special Provisions Relating to 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, the Agent reasonably determines, which determination shall, absent manifest error, be final, conclusive and binding upon all parties, due to changes in circumstances since the date hereof, adequate and fair means do not exist for determining the Eurodollar Rate or such rate will not accurately reflect the costs to the Lenders of funding Eurodollar Loan for such Interest Period, the Agent shall give notice of such determination to the Borrowers Borrower and the Lenders, whereupon, until the Agent notifies the Borrowers Borrower and the Lenders that the circumstances giving rise to such suspension no longer exist, the obligations of the Lenders to make, continue or convert Loan Loans into Eurodollar Loan Loans shall be suspended, and all loans to Borrowers Borrower shall be Base Prime Rate Loan Loans during the period of suspension.
Appears in 1 contract
Samples: Credit Agreement (Southwest Royalties Holdings Inc)