Application of LIBOR to Outstanding Loans. (a) Borrowers may elect to convert any portion of Base Rate Loans to, or to continue any LIBOR Loan at the end of its Interest Period as, a LIBOR Loan. During any Default or Event of Default, Agent may (and shall at the direction of Required Lenders) declare that no Loan may be made, converted or continued as a LIBOR Loan.
Appears in 3 contracts
Samples: Loan and Security Agreement (Rocky Brands, Inc.), Guaranty and Security Agreement (BIG 5 SPORTING GOODS Corp), Loan, Guaranty and Security Agreement (SMART Global Holdings, Inc.)
Application of LIBOR to Outstanding Loans. (a) Borrowers may elect to convert any portion of Base Rate Loans to, or to continue any LIBOR Loan at the end of its Interest Period as, a LIBOR Loan. During any Default or Event of Default, Agent may (and shall at the direction of Required Lenders) declare that no Loan may be made, converted or continued as a LIBOR Loan.
Appears in 2 contracts
Samples: Guaranty and Security Agreement (Inari Medical, Inc.), Loan and Security Agreement (Calix, Inc)
Application of LIBOR to Outstanding Loans. (a) Borrowers Borrower may elect to convert any portion of Base Rate Loans to, or to continue any LIBOR Loan at the end of its Interest Period as, a LIBOR Loan. During any Default or Event of Default, Agent may (and shall at the direction of Required Lenders) declare that no Loan may be made, converted or continued as a LIBOR Loan.
Appears in 1 contract
Samples: Loan and Security Agreement (Summit Midstream Partners, LP)
Application of LIBOR to Outstanding Loans. (a) Borrowers may elect to convert any portion of Base Prime Rate Loans to, or to continue any LIBOR Rate Loan at the end of its Interest Period as, a LIBOR Rate Loan. During any Default or Event of Default, Agent may (and shall at the direction of Required Lenders) declare that no Loan may be made, converted or continued as a LIBOR Rate Loan.
Appears in 1 contract
