Automatic Conversion to Prime Rate. If the Borrowers fail to notify the Agent of the conversion or continuance of any LIBOR Loan within the time specified in this Section 2.08, or is otherwise not permitted to convert to or continue any LIBOR Loan pursuant to said Section, then any such Loan shall automatically convert to a Base Rate Loan on the last day of the then expiring applicable Interest Period.
Appears in 2 contracts
Samples: Revolving Credit Agreement (TRC Companies Inc /De/), Revolving Credit Agreement (TRC Companies Inc /De/)
Automatic Conversion to Prime Rate. If the Borrowers fail Borrower fails to notify the Agent of the conversion or continuance of any LIBOR Loan within the time specified in this Section 2.08, or is otherwise not permitted to convert to or continue any LIBOR Loan pursuant to said Section, then any such Loan shall automatically convert to a Base Prime Rate Loan on the last day of the then expiring applicable Interest Period.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Hooper Holmes Inc)
Automatic Conversion to Prime Rate. If the Borrowers fail Borrower fails to notify the Agent of the conversion or continuance of any LIBOR Loan within the time specified in this Section 2.082.06, or is otherwise not permitted to convert to or continue any LIBOR Loan pursuant to said Section, then any such Loan shall automatically convert to a Base Prime Rate Loan on the last day of the then expiring applicable Interest Period.
Appears in 1 contract
Samples: Credit Agreement (Hooper Holmes Inc)
