Common use of Absence of Notice Clause in Contracts

Absence of Notice. In the absence of a Rollover Notice or Conversion Notice within the appropriate time periods referred to herein, a maturing Bankers’ Acceptance or BA Rate Loan shall be automatically converted to a Prime Rate Loan and a maturing LIBOR Loan shall be automatically converted to a Base Rate Canada Loan as though a notice to such effect had been given in accordance with Section 6.4.

Appears in 2 contracts

Samples: Credit Agreement (Fortis Inc.), Credit Agreement (Fortis Inc.)

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Absence of Notice. In Subject to Section 3.6, in the absence of a Rollover Notice or Conversion Notice within the appropriate time periods referred to herein, a maturing Bankers' Acceptance or BA Rate Loan shall be automatically converted to a Prime Rate Loan and a maturing LIBOR Loan shall be automatically converted to a Base Rate Canada Loan as though a notice to such effect had been given in accordance with Section 6.4.

Appears in 1 contract

Samples: Credit Agreement (Vitran Corp Inc)

Absence of Notice. In the absence of a Rollover Notice or Conversion Notice within the appropriate time periods referred to herein, a maturing Bankers’ Acceptance or BA Rate RateCORRA Loan shall be automatically converted to a Prime Rate Loan and a maturing LIBOR Term Benchmark Loan shall be automatically converted to a Base Rate Canada Loan as though a notice to such effect had been given in accordance with Section 6.4.

Appears in 1 contract

Samples: Second Amending Agreement (Fortis Inc.)

Absence of Notice. In Subject to Section 3.06, in the absence of a Rollover Notice or Conversion Notice within the appropriate time periods referred to herein, a maturing Bankers’ Acceptance or BA Rate Loan shall be automatically converted to a Prime Rate Loan and a maturing LIBOR Loan shall be automatically converted to a Base Rate Canada Loan as though a notice to such effect had been given in accordance with Section 6.46.04.

Appears in 1 contract

Samples: Credit Agreement (Vitran Corp Inc)

Absence of Notice. In Subject to Section 3.63.7 in the absence of a Rollover Notice or Conversion Notice within the appropriate time periods referred to herein, a maturing Bankers’ Acceptance or BA Rate Equivalent Loan shall be automatically converted to a Prime Rate Loan and a maturing LIBOR LIBORTerm Benchmark Loan shall be automatically converted to a Base Rate Canada Loan as though a notice to such effect had been given in accordance with Section 6.4.

Appears in 1 contract

Samples: Credit Agreement (CI Financial Corp.)

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Absence of Notice. In the absence of a Rollover Notice or Conversion Notice within the appropriate time periods referred to herein, a maturing Bankers’ Acceptance or BA Rate Loan shall be automatically converted to a Prime Rate Loan and a maturing LIBOR Term Benchmark Loan shall be automatically converted to a Base Rate Canada Loan as though a notice to such effect had been given in accordance with Section 6.4.

Appears in 1 contract

Samples: Credit Agreement (Fortis Inc.)

Absence of Notice. In Subject to the terms and conditions hereof, in the absence of a Rollover Notice or Conversion Notice within the appropriate time periods referred to herein, a maturing Bankers’ Acceptance or BA Rate Loan shall be automatically converted to a Prime Rate Loan and a maturing LIBOR Loan shall be automatically converted to a Base Rate Canada Loan and a maturing Bankers’ Acceptance or BA Equivalent Loan shall be automatically converted to a Prime Rate Loan as though a notice to such effect had been given in accordance with Section 6.4.

Appears in 1 contract

Samples: Credit Agreement (Anixter International Inc)

Absence of Notice. In Subject to Section 3.6 in the absence of a Rollover Notice or Conversion Notice within the appropriate time periods referred to herein, a maturing Bankers’ Acceptance or BA Rate Equivalent Loan shall be automatically converted to a Prime Rate Loan and a maturing LIBOR Loan shall be automatically converted to a Base Rate Canada Loan as though a notice to such effect had been given in accordance with Section 6.4.

Appears in 1 contract

Samples: Loan Agreement (CI Financial Corp.)

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