Changes in Market Clause Samples

Changes in Market. There shall not have occurred and be continuing (i) a material adverse change in the market for syndicated bank credit facilities, (ii) a material disruption of, or material adverse change in, financial, banking or capital market conditions, (iii) a suspension of trading in securities generally on the New York or American Stock Exchange or an establishment of minimum or maximum prices for securities trading on either such exchange or (iv) a declaration of a banking moratorium by United States Federal or New York state authorities, in each case since the date hereof, as reasonably determined by the Agent.

Changes in Market. There shall not have occurred and be continuing a material adverse change in the market for syndicated bank credit facilities, or a material disruption of, or material adverse change in, financial, banking or capital market conditions, in each case since the date hereof, as reasonably determined by Agent.

Changes in Market. If on or prior to 3:00 p.m. on the Business Day three (3) Business Days prior to any Interest Period in respect of a Floating Rate Note, any Lender determines (acting reasonably and in good faith) that:

Changes in Market. Each Borrower agrees that the Agent shall be ----------------- entitled, after consultation with the Borrowers, to change the terms and conditions, pricing and structure of the credit facilities extended hereunder if the Agent determines that such changes are advisable to ensure the successful initial syndication thereof, provided, that the Total Commitments remain unchanged.

Changes in Market circumstances If at any time the Lender determines (which determination shall be final and conclusive and binding on the Borrower) that, by reason of changes affecting the London interbank market, adequate and fair means do not exist for determining the rate of interest on a Drawing for any Interest Period: 8.9.1 the Lender shall give notice to the Borrower of the occurrence of such event; and 8.9.2 the rate of interest on the relevant Drawing for that Interest Period shall be the rate per annum which is the sum of: (a) the Margin; and (b) the rate which expresses as a percentage rate per annum the cost to the Lender of funding the relevant Drawing from whatever source it may reasonably select; and (c) the Mandatory Cost, if any, PROVIDED THAT if the resulting rate of interest is not acceptable to the Borrower: 8.9.3 the Lender will negotiate with the Borrower in good faith with a view to modifying this Agreement to provide a substitute basis for determining the rate of interest which is financially a substantial equivalent to the basis provided for in this Agreement; 8.9.4 any substitute basis agreed pursuant to Clause 8.9.3 shall be binding on the parties to this Agreement; and 8.9.5 if, within thirty (30) days of the giving of the notice referred to in Clause 8.9.1, the Borrower and the Lender fail to agree in writing on a substitute basis for determining the rate of interest in respect of the relevant Drawing, the Lender shall cease to be obliged to advance that Drawing, but, if it has already been advanced, the Borrower will immediately prepay it, together with any Break Costs, and the Maximum Amount shall be reduced by the amount of that Drawing.

Changes in Market circumstances If at any time a Bank determines (which determination shall be final and conclusive and binding on the Borrowers) that, by reason of changes affecting the London Interbank market, adequate and fair means do not exist for ascertaining the rate of interest on the Loan pursuant to this Agreement:- 15.8.1 that Bank shall give notice to the Agent and the Agent shall give notice to the Borrowers of the occurrence of such event; and 15.8.2 the Agent shall as soon as reasonably practicable certify to the Borrowers in writing the effective cost to the Banks of maintaining the Loan for such further period as shall be selected by the Banks and the rate of interest payable by the Borrowers for that period; or, if that is not acceptable to the Borrowers, 15.8.3 the Agent on behalf of the Banks will negotiate with the Borrowers in good faith with a view to modifying this Agreement to provide a substitute basis for the Loan which is financially a substantial equivalent to the basis provided for in this Agreement. If, within thirty days of the giving of the notice referred to in Clause 15.8.1, the Borrowers and the Agent fail to agree in writing on a substitute basis for the Loan, the Borrowers will immediately prepay the Indebtedness. Clause 5.6 shall apply to that prepayment if it is made on a day other than the last day of an Interest Period.

Changes in Market. The average of the closing bid and ask prices of DHT common stock for the five (5) trading day period immediately preceding the date of Closing shall not be less than $4.00 per share.

Changes in Market. (a) If in the course of establishing LIBOR for the ensuing Interest Period, the Lender will have determined (which determination will be final, conclusive and binding upon the Borrower) that the ability of the Lender to make or maintain Loans in Dollars during the ensuing Interest Period has become impractical or has been materially adversely affected because: (i) of any material adverse change in or the termination of the London Interbank Eurodollar Market and the New York Interbank Market for Dollars; (ii) there exist no adequate and fair means for ascertaining LIBOR applicable to the Loans made to the Borrower by the Lender for such Interest Period; (iii) deposits in Dollars are not available to the Lender in the London Interbank Eurodollar Market and the New York Interbank Market in sufficient amounts in the ordinary course of business for such Interest Period; or (iv) if LIBOR, for such Interest period, will not be adequately reflect the cost of the Lender of obtaining the deposits in Dollars required for such Interest Period hereunder during such Interest Period in the London Interbank Eurodollar Market and the New York Interbank Market; EDC Loan Agreement in any such case, the Lender will promptly notify the Borrower of such determination and will within the next succeeding sixty (60) days after such notice, deliver to the Borrower the terms of a substitute basis for the continuation of the indebtedness of the Borrower which is, financially, the substantial equivalent to the Lender of the basis provided herein, including without limitation, the continuation of such indebtedness in a freely convertible currency other than Dollars or the funding of such indebtedness in a financial market other than the London Interbank Eurodollar Market and the New York Interbank Market. The terms of the substitute basis for such indebtedness will be retroactive to and effective from the beginning of that Interest Period for which LIBOR was being established and the provisions of this Agreement respecting such indebtedness of the Borrower will be, ipso factor, amended to accord with the terms of the substitute basis. The Lender will have no obligation to make any further Loans after such event until the Lender has determined the substitute basis. (b) Notwithstanding anything to the contrary contained in this Agreement respecting prepayment, if the Lender gives the notice provided for in this Section 5.01, the Borrower will have the right, upon written notice to that e...

Changes in Market. Notwithstanding any other provision of this Agreement, if, on or prior to the determination of the Libo Rate for any Interest Period, EDC reasonably determines (which determination shall be conclusive and binding on the Borrower absent manifest error) that: (a) adequate and reasonable means do not exist for determining the Libo Rate for such Interest Period; or (b) the Libo Rate for such Interest Period will not reflect the cost to EDC of making or maintaining the Loan for such Interest Period; then EDC will promptly so notify the Borrower and will, within sixty (60) days after giving such notice, deliver to the Borrower notice of the terms of a substitute basis for continuing the Loan hereunder, which shall be the rate per annum determined by EDC to be the average (rounded upwards if necessary to the nearest one sixteenth of one per cent of the respective rates), as notified by each Reference Bank, at which US Dollar deposits are offered by each such Reference Bank to prime banks in the London inter-bank market at approximately 11 a.m., London time, two (2) London Banking Days prior to the beginning of such Interest Period for a period equal to such Interest Period in an amount comparable to the amount of the particular Loan; provided that if in either case that rate is less than zero, then Libo Rate shall be deemed to be zero for all purposes of this Agreement. Such terms will be retroactive to the beginning of the Interest Period for which the Libo Rate was to be determined. The provisions of this Agreement will be amended to accord with such terms and the Borrower agrees to execute any documents or instruments requested by EDC to reflect such amendment.