Base Rate Loans Substituted for Affected Euro-Currency Loans. If (i) the obligation of any Lender to make, or to continue or convert outstanding Loans as or to, Euro-Currency Loans to any Borrower in any currency has been suspended pursuant to Section 8.02 or (ii) any Lender has demanded compensation under Section 8.03 or 8.04 with respect to its Euro-Currency Loans in any currency and the Company shall, by at least five Euro-Dollar Business Days’ prior notice to such Lender through the Administrative Agent, have elected that the provisions of this Section shall apply to such Lender, then, unless and until such Lender notifies the Company that the circumstances giving rise to such suspension or demand for compensation no longer exist, all Loans which would otherwise be made by such Lender as (or continued as or converted to) Euro-Currency Loans in such currency to such Borrower shall instead be Base Rate Loans (in the case of Alternative Currency Loans, in the same Dollar Amount as the Euro-Currency Loan that such Lender would otherwise have made in the Alternative Currency) on which interest and principal shall be payable contemporaneously with the related Euro-Currency Loans of the other Lenders. If such Lender notifies the Company that the circumstances giving rise to such suspension or demand for compensation no longer exist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Currency Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Currency Loans of the other Lenders. If such Loan is converted into an Alternative Currency Loan, such Lender, the Administrative Agent and the Borrower shall make such arrangements as shall be required (including increasing or decreasing the amount of such Alternative Currency Loan) so that such Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied thereto.
Appears in 3 contracts
Samples: Credit Agreement (Johnson Controls Inc), Credit Agreement (Johnson Controls Inc), Credit Agreement (Johnson Controls Inc)
Base Rate Loans Substituted for Affected Euro-Currency Loans. If (i) the obligation of any Lender Bank to make, or to continue or convert outstanding Loans as or to, make Euro-Currency Loans to any Borrower in any currency has been suspended pursuant to Section 8.02 8.2 or (ii) any Lender Bank has demanded compensation under Section 8.03 8.3 or 8.04 8.4 with respect to its Euro-Currency Loans in any currency and the Company Borrower shall, by at least five Euro-Dollar Business Days’ prior notice to such Lender Bank through the Administrative Agent, have elected that the provisions of this Section shall apply to such LenderBank, then, unless and until such Lender Bank notifies the Company Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist, :
(a) Borrower shall be deemed to have delivered a Notice of Interest Rate Election with respect to such affected Euro-Currency Loans and thereafter all Loans which would otherwise be made by such Lender Bank to the Borrower as (or continued as or converted to) Euro-Currency Loans in such currency to such Borrower shall be made instead be as Base Rate Loans (in the case of Alternative Currency Loans, and no Borrowing from such Bank would take effect with respect to Loans denominated in the same Dollar Amount as the Euro-Currency Loan that such Lender would otherwise have made in the Alternative an Alternate Currency; and
(b) on which interest and principal shall be payable contemporaneously with the related after each of its Euro-Currency Loans has been repaid, all payments of the other Lenders. If principal which would otherwise be applied to repay such Lender notifies the Company that the circumstances giving rise to such suspension or demand for compensation no longer exist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Currency Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Currency Loans of the other Lenders. If such Loan is converted into an Alternative Currency Loan, such Lender, the Administrative Agent and the Borrower shall make such arrangements as shall be applied to repay its Base Rate Loans instead; and
(c) Borrower will not be required to make any payment which would otherwise be required by Section 2.14 with respect to such Euro-Currency Loans converted to Base Rate Loans pursuant to clause (including increasing or decreasing the amount of such Alternative Currency Loana) so that such Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied theretoabove.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Istar Financial Inc), Revolving Credit Agreement (Istar Financial Inc)
Base Rate Loans Substituted for Affected Euro-Currency Loans. If (i) the obligation of any Lender Bank to make, or to continue or convert outstanding Loans as or to, make Euro-Currency Loans to any Borrower in any currency has been suspended pursuant to Section 8.02 8.2 or (ii) any Lender Bank has demanded compensation under Section 8.03 8.3 or 8.04 Section 8.4 with respect to its Euro-Currency Loans in any currency and the Company Borrower shall, by at least five Euro-Dollar Business Days’ prior notice to such Lender Bank through the Administrative Agent, have elected that the provisions of this Section shall apply to such LenderBank, then, unless and until such Lender Bank notifies the Company Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist, :
(a) the Borrower shall be deemed to have delivered a Notice of Interest Rate Election with respect to such affected Euro-Currency Loans and thereafter all Loans which would otherwise be made by such Lender Bank to the Borrower as (or continued as or converted to) Euro-Currency Loans in such currency to such Borrower shall be made instead be as Base Rate Loans (in the case of Alternative and no Borrowing from such Bank would take effect with respect to Alternate Currency Loans, in the same Dollar Amount as the Euro-Currency Loan that such Lender would otherwise have made in the Alternative Currency; and
(b) on which interest and principal shall be payable contemporaneously with the related after each of its Euro-Currency Loans has been repaid, all payments of the other Lenders. If principal which would otherwise be applied to repay such Lender notifies the Company that the circumstances giving rise to such suspension or demand for compensation no longer exist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Currency Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Currency Loans of the other Lenders. If such Loan is converted into an Alternative Currency Loan, such Lender, the Administrative Agent and shall be applied to repay its Base Rate Loans instead; and
(c) the Borrower shall make such arrangements as shall will not be required to make any payment which would otherwise be required by Section 2.16 with respect to such Euro-Currency Loans converted to Base Rate Loans pursuant to clause (including increasing or decreasing the amount of such Alternative Currency Loana) so that such Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied theretoabove.
Appears in 1 contract
Samples: Second Priority Credit Agreement (Istar Financial Inc)
Base Rate Loans Substituted for Affected Euro-Currency Loans. If (i) the obligation of any Lender to make, or to continue or convert outstanding Loans as or to, Euro-Currency Euro‑Currency Loans to any Borrower in any currency has been suspended pursuant to Section 8.02 or (ii) any Lender has demanded compensation under Section 8.03 or 8.04 with respect to its Euro-Currency Loans in any currency and the Company shall, by at least five Euro-Dollar Euro‑Dollar Business Days’ prior notice to such Lender through the Administrative Agent, have elected that the provisions of this Section shall apply to such Lender, then, unless and until such Lender notifies the Company that the circumstances giving rise to such suspension or demand for compensation no longer exist, all Loans which would otherwise be made by such Lender as (or continued as or converted to) Euro-Currency Loans in such currency to such Borrower shall instead be Base Rate Loans (in the case of Alternative Currency Loans, in the same Dollar Amount as the Euro-Currency Loan that such Lender would otherwise have made in the Alternative Currency) on which interest and principal shall be payable contemporaneously with the related Euro-Currency Loans of the other Lenders. If such Lender notifies the Company that the circumstances giving rise to such suspension or demand for compensation no longer exist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Currency Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Currency Loans of the other Lenders. If such Loan is converted into an Alternative Currency Loan, such Lender, the Administrative Agent and the Borrower shall make such arrangements as shall be required (including increasing or decreasing the amount of such Alternative Currency Loan) so that such Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied thereto.
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Base Rate Loans Substituted for Affected Euro-Currency Loans. If (i) the obligation of any Lender to make, or to continue or convert outstanding Loans as or to, Euro-Currency Euro‑Currency Loans to any Borrower in any currency has been suspended pursuant to Section 8.02 or (ii) any Lender has demanded compensation under Section 8.03 or 8.04 with respect to its Euro-Currency Loans in any currency and the Company Principal Borrower shall, by at least five Euro-Dollar Euro‑Dollar Business Days’ prior notice to such Lender through the Administrative Agent, have elected that the provisions of this Section shall apply to such Lender, then, unless and until such Lender notifies the Company Principal Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist, all Loans which would otherwise be made by such Lender as (or continued as or converted to) Euro-Currency Loans in such currency to such Borrower shall instead be Base Rate Loans (in the case of Alternative Currency Loans, in the same Dollar Amount as the Euro-Currency Loan that such Lender would otherwise have made in the Alternative Currency) on which interest and principal shall be payable contemporaneously with the related Euro-Currency Loans of the other Lenders. If such Lender notifies the Company Principal Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Currency Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Currency Loans of the other Lenders. If such Loan is converted into an Alternative Currency Loan, such Lender, the Administrative Agent and the Borrower shall make such arrangements as shall be required (including increasing or decreasing the amount of such Alternative Currency Loan) so that such Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied thereto.74
Appears in 1 contract
Samples: Credit Agreement
Base Rate Loans Substituted for Affected Euro-Currency Loans. If (i) the obligation of any Lender to make, or to continue or convert outstanding Loans as or to, Euro-Currency Loans to any the Borrower in any currency has been suspended pursuant to Section 8.02 or (ii) any Lender has demanded compensation under Section 8.03 or 8.04 with respect to its Euro-Currency Loans in any currency and the Company Borrower shall, by at least five Euro-Dollar Currency Business Days’ prior notice to such Lender through the Administrative Agent, have elected that the provisions of this Section shall apply to such Lender, then, unless and until such Lender notifies the Company Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist, all Loans which would otherwise be made by such Lender as (or continued as or converted to) Euro-Currency Loans in such currency to such the Borrower shall instead be Base Rate Loans (in the case of Alternative Currency Loans, in the same Dollar Amount as the Euro-Currency Loan that such Lender would otherwise have made in the Alternative Currency) on which interest and principal shall be payable contemporaneously with the related Euro-Currency Loans of the other Lenders. If such Lender notifies the Company Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Currency Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Currency Loans of the other Lenders. If such Loan is converted into an Alternative Currency Loan, such Lender, the Administrative Agent and the Borrower shall make such arrangements as shall be required (including increasing or decreasing the amount of such Alternative Currency Loan) so that such Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied thereto.
Appears in 1 contract
Samples: Credit Agreement (Johnson Controls International PLC)
Base Rate Loans Substituted for Affected Euro-Currency Loans. If (i) the obligation of any Lender to make, or to continue or convert outstanding Loans as or to, Euro-Currency Loans to any Borrower in any currency has been suspended pursuant to Section 8.02 or (ii) any Lender has demanded compensation under Section 8.03 or 8.04 with respect to its Euro-Euro- Currency Loans in any currency and the Company shall, by at least five Euro-Dollar Business Days’ prior notice to such Lender through the Administrative Agent, have elected that the provisions of this Section shall apply to such Lender, then, unless and until such Lender notifies the Company that the circumstances giving rise to such suspension or demand for compensation no longer exist, all Loans which would otherwise be made by such Lender as (or continued as or converted to) Euro-Currency Loans in such currency to such Borrower shall instead be Base Rate Loans (in the case of Alternative Currency Loans, in the same Dollar Amount as the Euro-Currency Loan that such Lender would otherwise have made in the Alternative Currency) on which interest and principal shall be payable contemporaneously with the related Euro-Currency Loans of the other Lenders. If such Lender notifies the Company that the circumstances giving rise to such suspension or demand for compensation no longer exist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Currency Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Currency Loans of the other Lenders. If such Loan is converted into an Alternative Currency Loan, such Lender, the Administrative Agent and the Borrower shall make such arrangements as shall be required (including increasing or decreasing the amount of such Alternative Currency Loan) so that such Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied thereto.
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Base Rate Loans Substituted for Affected Euro-Currency Loans. If (i) the obligation of any Lender to make, or to continue or convert outstanding Loans as or to, Euro-Currency Loans to any Borrower in any currency has been suspended pursuant to Section 8.02 or (ii) any Lender has demanded compensation under Section 8.03 or 8.04 with respect to its Euro-Currency Loans in any currency and the Company Principal Borrower shall, by at least five Euro-Dollar Business Days’ prior notice to such Lender through the Administrative Agent, have elected that the provisions of this Section shall apply to such Lender, then, unless and until such Lender notifies the Company Principal Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist, all Loans which would otherwise be made by such Lender as (or continued as or converted to) Euro-Currency Loans in such currency to such Borrower shall instead be Base Rate Loans (in the case of Alternative Currency Loans, in the same Dollar Amount as the Euro-Currency Loan that such Lender would otherwise have made in the Alternative Currency) on which interest and principal shall be payable contemporaneously with the related Euro-Currency Loans of the other Lenders. If such Lender notifies the Company Principal Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Currency Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Currency Loans of the other Lenders. If such Loan is converted into an Alternative Currency Loan, such Lender, the Administrative Agent and the Borrower shall make such arrangements as shall be required (including increasing or decreasing the amount of such Alternative Currency Loan) so that such Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied thereto.
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Base Rate Loans Substituted for Affected Euro-Currency Loans. If (i) the obligation of any Lender Bank to make, or to continue or convert outstanding Loans as or to, make Euro-Currency Loans to any Borrower in any currency has been suspended pursuant to Section 8.02 8.2 or (ii) any Lender Bank has demanded compensation under Section 8.03 8.3 or 8.04 Section 8.4 with respect to its Euro-Currency Loans in any currency and the Company Borrower shall, by at least five Euro-Dollar Business Days’ prior notice to such Lender Bank through the Administrative Agent, have elected that the provisions of this Section shall apply to such LenderBank, then, unless and until such Lender Bank notifies the Company Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist, :
(a) the Borrower shall be deemed to have delivered a Notice of Interest Rate Election with respect to such affected Euro-Currency Loans and thereafter all Loans which would otherwise be made by such Lender Bank to the Borrower as (or continued as or converted to) Euro-Currency Loans in such currency to such Borrower shall be made instead be as Base Rate Loans and no Borrowing from such Bank would take effect with respect to Multicurrency Revolving Credit Loans denominated in an Alternate Currency; and
(in the case b) after each of Alternative Currency Loans, in the same Dollar Amount as the Euro-Currency Loan that such Lender would otherwise have made in the Alternative Currency) on which interest and principal shall be payable contemporaneously with the related its Euro-Currency Loans has been repaid, all payments of the other Lenders. If principal which would otherwise be applied to repay such Lender notifies the Company that the circumstances giving rise to such suspension or demand for compensation no longer exist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Currency Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Currency Loans of the other Lenders. If such Loan is converted into an Alternative Currency Loan, such Lender, the Administrative Agent and shall be applied to repay its Base Rate Loans instead; and
(c) the Borrower shall make such arrangements as shall will not be required to make any payment which would otherwise be required by Section 2.16 with respect to such Euro-Currency Loans converted to Base Rate Loans pursuant to clause (including increasing or decreasing the amount of such Alternative Currency Loana) so that such Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied theretoabove.
Appears in 1 contract
Samples: Second Priority Credit Agreement (Istar Financial Inc)
Base Rate Loans Substituted for Affected Euro-Currency Loans. If (i) the obligation of any Lender to make, or to continue or convert outstanding Loans as or to, Euro-Currency Euro‑Currency Loans to any Borrower in any currency has been suspended pursuant to Section 8.02 or (ii) any Lender has demanded compensation under Section 8.03 or 8.04 with respect to its Euro-Currency Loans in any currency and the Company Principal Borrower shall, by at least five Euro-Dollar Euro‑Dollar Business Days’ prior notice to such Lender through the Administrative Agent, have elected that the provisions of this Section shall apply to such Lender, then, unless and until such Lender notifies the Company Principal Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist, all Loans which would otherwise be made by such Lender as (or continued as or converted to) Euro-Currency Loans in such currency to such Borrower shall instead be Base Rate Loans (in the case of Alternative Currency Loans, in the same Dollar Amount as the Euro-Currency Loan that such Lender would otherwise have made in the Alternative Currency) on which interest and principal shall be payable contemporaneously with the related Euro-Currency Loans of the other Lenders. If such Lender notifies the Company Principal Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Currency Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Currency Loans of the other Lenders. If such Loan is converted into an Alternative Currency Loan, such Lender, the Administrative Agent and the Borrower shall make such arrangements as shall be required (including increasing or decreasing the amount of such Alternative Currency Loan) so that such Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied thereto.Administrative
Appears in 1 contract
Samples: Credit Agreement (Johnson Controls International PLC)
Base Rate Loans Substituted for Affected Euro-Currency Loans. If (i) the obligation of any Lender Bank to make, or to continue or convert outstanding Loans as or to, make Euro-Currency Loans to any Borrower in any currency has been suspended pursuant to Section 8.02 8.2 or (ii) any Lender Bank has demanded compensation under Section 8.03 8.3 or 8.04 Section 8.4 with respect to its Euro-Currency Loans in any currency and the Company Borrower shall, by at least five Euro-Dollar Business Days’ prior notice to such Lender Bank through the Administrative Agent, have elected that the provisions of this Section shall apply to such LenderBank, then, unless and until such Lender Bank notifies the Company Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist, :
(a) the Borrower shall be deemed to have delivered a Notice of Interest Rate Election with respect to such affected Euro-Currency Loans and thereafter all Loans which would otherwise be made by such Lender Bank to the Borrower as (or continued as or converted to) Euro-Currency Loans in such currency to such Borrower shall be made instead be as Base Rate Loans Loans; and
(in the case b) after each of Alternative Currency Loans, in the same Dollar Amount as the Euro-Currency Loan that such Lender would otherwise have made in the Alternative Currency) on which interest and principal shall be payable contemporaneously with the related its Euro-Currency Loans has been repaid, all payments of the other Lenders. If principal which would otherwise be applied to repay such Lender notifies the Company that the circumstances giving rise to such suspension or demand for compensation no longer exist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Currency Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Currency Loans of the other Lenders. If such Loan is converted into an Alternative Currency Loan, such Lender, the Administrative Agent and shall be applied to repay its Base Rate Loans instead; and
(c) the Borrower shall make such arrangements as shall will not be required to make any payment which would otherwise be required by Section 2.13 with respect to such Euro-Currency Loans converted to Base Rate Loans pursuant to clause (including increasing or decreasing the amount of such Alternative Currency Loana) so that such Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied theretoabove.
Appears in 1 contract