Common use of Eurodollar Loans Suspended Clause in Contracts

Eurodollar Loans Suspended. Upon the giving of the notice to the -------------------------- Borrower referred to in Section (a) above, (i) the Borrower's right to request (by continuation, conversion or otherwise) and such Lender's obligation to make Eurodollar Loans shall be immediately suspended, and any such requested Eurodollar Loan shall instead be made as an ABR Loan, and (ii) if the affected Eurodollar Loan or Loans are then outstanding, the Borrower shall immediately, or if permitted by applicable law, no later than the date permitted thereby, upon at least one Business Day's written notice to the Administrative Agent and the affected Lender, convert each such Eurodollar Loan into an ABR Loan, provided that if more than one Lender is affected at any time, then all affected Lenders must be treated the same pursuant to this Section.

Appears in 4 contracts

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

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Eurodollar Loans Suspended. Upon the giving of the notice to the -------------------------- Borrower Company referred to in Section (a) above, (i) the BorrowerCompany's right to request (by continuation, conversion or otherwise) and such Lender's obligation to make Eurodollar Loans shall be immediately suspended, and any such requested Eurodollar Loan shall instead be made as an ABR a Base Rate Loan, and (ii) if the affected Eurodollar Loan or Loans are then outstanding, the Borrower Company shall immediately, or if permitted by applicable law, no later than the date permitted thereby, upon at least one Business Day's written notice to the Administrative Agent and the affected Lender, convert each such Eurodollar Loan into an ABR a Base Rate Loan, provided that if more than one Lender is affected at any time, then all affected Lenders must be treated the same pursuant to this Section.

Appears in 1 contract

Samples: Credit Agreement (Titan Exploration Inc)

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Eurodollar Loans Suspended. Upon the giving of the notice to the -------------------------- Borrower Company referred to in Section (a) above, (i) the BorrowerCompany's right to request (by continuation, conversion or otherwise) and such Lender's obligation to make Eurodollar Loans shall be immediately suspended, and any such requested Eurodollar Loan shall instead be made as an ABR a Base Rate Loan, and (ii) if the affected Eurodollar Loan or Loans are then outstanding, the Borrower Company shall immediately, or if permitted by applicable law, no later than the date permitted thereby, upon at least one Business Day's written notice to the Administrative Agent and the affected Lender, convert each such Eurodollar Loan into an ABR a Base Rate Loan, provided that if more than one Lender is affected at any time, then all affected Lenders must be treated the same pursuant to this Section.

Appears in 1 contract

Samples: Credit Agreement (Titan Exploration Inc)

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