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, 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 the Lender of funding Eurodollar Loans for such Eurodollar Interest Period, the Lender shall give notice of such determination to the Borrower, whereupon, until the Lender notifies the Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of the Lender 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

Sources: 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 Lender 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 Lender Lenders of funding a Eurodollar Loans Loan for such Eurodollar Interest Period, the Lender Agent shall give notice of such determination to the BorrowerBorrower and Lenders, whereupon, until the Lender Agent notifies the Borrower and Lenders that the circumstances giving rise to such suspension no longer exist, the obligation obligations of the Lender 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 2 contracts

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

Unavailability of Funds or Inadequacy of Pricing. In the event that, in connection with any proposed Eurodollar Loan, the Lender 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 the Lender Bank of funding Eurodollar Loans for such Eurodollar Interest Period, the Lender Bank shall give notice of such determination to the Borrower, whereupon, until the Lender Bank notifies the Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of the Lender Bank 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 1 contract

Sources: Credit Agreement (Petroquest Energy Inc)

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

Appears in 1 contract

Sources: Credit Agreement (Exco Resources Inc)

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

Appears in 1 contract

Sources: 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, the Lender 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 Lender Lenders of funding Eurodollar Loans for such Eurodollar Interest Period, the Lender Agent shall give notice of such determination to the Borrower, whereupon, until the Lender Agent notifies the Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of the Lender 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 1 contract

Sources: Credit Agreement (LHC Group, Inc)

Unavailability of Funds or Inadequacy of Pricing. In the event that, in connection with any proposed Eurodollar Loan, the Lender Agent 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 Lender Lenders of funding Eurodollar Loans for such Eurodollar Interest Period, the Lender Agent shall give notice of such determination to the Borrower, whereupon, until the Lender Agent notifies the Borrower that the circumstances giving rise to such suspension no longer exist, the obligation of the Lender 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 1 contract

Sources: Credit Agreement (Carrizo Oil & Gas Inc)