Common use of Unavailability of Funds or Inadequacy of Pricing Clause in Contracts

Unavailability of Funds or Inadequacy of Pricing. In the event that, in connection with any proposed Eurodollar Loan, 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 Lenders of funding a Eurodollar Loan for such Interest Period, Agent shall give notice of such determination to Borrower and Lenders, whereupon, until Agent notifies Borrower and Lenders that the circumstances giving rise to such suspension no longer exist, the obligations of Lenders to make, continue or convert Loans into Eurodollar Loans shall be suspended, and all Loans to Borrower shall be Base Rate Loans during the period of suspension.

Appears in 2 contracts

Samples: Credit Agreement (Approach Resources Inc), Credit Agreement (Approach Resources Inc)

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Unavailability of Funds or Inadequacy of Pricing. In the event that, in connection with any proposed Eurodollar Loan, Agent reasonably the Lender 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 Lenders the Lender of funding a Eurodollar Loan Loans for such Eurodollar Interest Period, Agent the Lender shall give notice of such determination to Borrower and Lendersthe Borrower, whereupon, until Agent the Lender notifies the Borrower and Lenders that the circumstances giving rise to such suspension no longer exist, the obligations obligation of Lenders the Lender to make, continue or convert Loans into Eurodollar Loans shall be suspended, and all Loans loans to Borrower shall be Base Rate Loans during the period of suspension.

Appears in 2 contracts

Samples: Credit Agreement (Carrizo Oil & Gas Inc), Credit Agreement (Carrizo Oil & Gas Inc)

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 a Eurodollar Loan Loans for such Eurodollar Interest Period, the Agent shall give notice of such determination to Borrower and Lendersthe Borrower, whereupon, until the Agent notifies the Borrower and Lenders that the circumstances giving rise to such suspension no longer exist, the obligations obligation of the Lenders to make, continue or convert Loans into Eurodollar Loans shall be suspended, and all Loans loans to Borrower shall be Base Rate Loans during the period of suspension.

Appears in 1 contract

Samples: Credit Agreement (LHC Group, Inc)

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 Lenders the Banks of funding a Eurodollar Loan for such Interest Period, the Agent shall give notice of such determination to the Borrower and Lendersthe Banks, whereupon, until the Agent notifies the Borrower and Lenders the Banks that the circumstances giving rise to such suspension no longer exist, the obligations of Lenders the Banks to make, continue or convert Loans Loan into Eurodollar Loans Loan shall be suspended, and all Loans loans to Borrower shall be Base Rate Loans Loan during the period of suspension.

Appears in 1 contract

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

Unavailability of Funds or Inadequacy of Pricing. In the event that, in connection with any proposed Eurodollar Loan, Agent reasonably the Bank 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 Lenders the Bank of funding a Eurodollar Loan Loans for such Eurodollar Interest Period, Agent the Bank shall give notice of such determination to Borrower and Lendersthe Borrower, whereupon, until Agent the Bank notifies the Borrower and Lenders that the circumstances giving rise to such suspension no longer exist, the obligations obligation of Lenders the Bank to make, continue or convert Loans into Eurodollar Loans shall be suspended, and all Loans loans to Borrower shall be Base Rate Loans during the period of suspension.

Appears in 1 contract

Samples: Credit Agreement (Petroquest Energy Inc)

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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 a Eurodollar Loan Loans for such Eurodollar Interest Period, the Agent shall give notice of such determination to Borrower and Lendersthe Borrower, whereupon, until the Agent notifies the Borrower and Lenders that the circumstances giving rise to such suspension no longer exist, the obligations obligation of the Lenders to make, continue or convert Loans into Eurodollar Loans shall be suspended, and all Loans loans to Borrower shall be Base Rate Loans during the period of suspension.

Appears in 1 contract

Samples: Credit Agreement (Carrizo Oil & Gas Inc)

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 a Eurodollar Loan Loans for such Interest Period, the Agent shall give notice of such determination to Borrower the Borrowers and the Lenders, whereupon, until the Agent notifies Borrower 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 Loans into Eurodollar Loans shall be suspended, and all Loans loans to Borrower Borrowers shall be Base Floating Rate Loans during the period of suspension.

Appears in 1 contract

Samples: Credit Agreement (Exco Resources Inc)

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