Common use of Suspension of Eurodollar Loans Clause in Contracts

Suspension of Eurodollar Loans. If any Lender requests compensation from the Company under Section 5.01(a), the Company may, by notice to such Lender (with a copy to the Administrative Agent), suspend the obligation of such Lender to make additional Loans of the Type with respect to which such compensation is requested until the Regulatory Change giving rise to such request ceases to be in effect (in which case the provisions of Section 5.04 shall be applicable). Without limiting the effect of the foregoing provisions of this Section 5.01(b), in the event that, by reason of any Regulatory Change, any Lender either (i) incurs Additional Costs based on or measured by the excess above a specified level of the amount of a category of deposits or other liabilities of such Lender which includes deposits by reference to which the interest rate on Eurodollar Loans is determined as provided in this Agreement or a category of extensions of credit or other assets of such Lender which includes Eurodollar Loans or (ii) becomes subject to restrictions on the amount of such a category of liabilities or assets which it may hold, then, such Lender may elect by notice to the Company (with a copy to the Administrative Agent), to suspend its obligation to make additional Eurodollar Loans until such Regulatory Change ceases to be in effect (in which case the provisions of Section 5.04 shall be applicable).

Appears in 4 contracts

Samples: Global Credit Agreement (United Meridian Corp), Global Credit Agreement (Ocean Energy Inc), Global Credit Agreement (Ocean Energy Inc)

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