Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (a) the obligation of any Lender to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 or (b) any Lender has demanded compensation under Section 2.16(a) with respect to its Euro-Dollar Loans and, in any such case, the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply: (i) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and (ii) after each of its Euro-Dollar Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
Appears in 15 contracts
Samples: Term Loan Credit Agreement (PPL Electric Utilities Corp), Revolving Credit Agreement (PPL Energy Supply LLC), Revolving Credit Agreement (PPL Energy Supply LLC)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (a) the obligation of any Lender to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 2.14 or (b) any Lender has demanded compensation under Section 2.16(a2.15(a) with respect to its Euro-Dollar Loans and, in any such case, the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(i) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and
(ii) after each of its Euro-Dollar Loans has been repaidrepaid (or converted to a Base Rate Loan), all payments of principal that would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
Appears in 8 contracts
Samples: Five Year Credit Agreement (PPL Electric Utilities Corp), Five Year Credit Agreement (PPL Energy Supply LLC), Revolving Credit Agreement (PPL Energy Supply LLC)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender to make or maintainmake, or to continue or convert outstanding Loans as or to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender has demanded compensation under Section 2.16(a) 8.03 or 8.04 with respect to its Euro-Dollar Loans andLoans, and in any such case, case the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(i) exist, all Loans which would otherwise be made by such Lender as (or continued as or converted intoto) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and
(ii) after each of its Euro-Dollar Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Borrower that the circumstances giving rise to such notice suspension or demand for compensation no longer applyexist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
Appears in 6 contracts
Samples: Credit Agreement (Lyondell Chemical Co), Credit Agreement (Lyondell Chemical Co), Credit Agreement (Marsh & McLennan Companies Inc)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender to make or maintain, or to convert outstanding Loans to, maintain Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender has demanded compensation under Section 2.16(a8.03(a) with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four five Euro-Dollar Business Days’ 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(ia) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); Loans, and
(iib) after each of its outstanding Euro-Dollar Loans has been repaidrepaid (or converted to a Base Rate Loan), all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender notifies the Borrower that the circumstances giving rise to such notice no longer apply, the Borrower shall elect that the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
Appears in 6 contracts
Samples: Term Loan Credit Agreement (Aetna Inc /Pa/), Bridge Credit Agreement (Aetna Inc /Pa/), Credit Agreement (Aetna Inc /Pa/)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.2 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.3 or 8.4 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four five 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) Borrower shall be deemed to have delivered a Notice of Interest Rate Election with respect to such affected Euro-Dollar Loans and thereafter all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans shall be made instead be as Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); , and
(iib) after each of its Euro-Dollar Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Loans instead, and
(c) Borrower that the circumstances giving rise will not be required to make any payment which would otherwise be required by Section 2.13 with respect to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lendersconverted to Base Rate Loans pursuant to clause (a) above.
Appears in 6 contracts
Samples: Credit Agreement (Equity Office Properties Trust), Credit Agreement (Eop Operating LTD Partnership), Revolving Credit Agreement (Eop Operating LTD Partnership)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (a) the obligation of any Lender to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 2.14 or (b) any Lender has demanded compensation under Section 2.16(a2.15(a) with respect to its Euro-Dollar Loans and, in any such case, the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(i) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and
(ii) after each of its Euro-Dollar Loans has been repaidrepaid (or converted to a Base Rate Loan), all payments of principal that would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
Appears in 6 contracts
Samples: 364 Day Credit Agreement (PPL Electric Utilities Corp), Credit Agreement (PPL Electric Utilities Corp), 364 Day Credit Agreement (PPL Montana LLC)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, to continue or to convert outstanding Loans to, as or into Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender Bank has demanded compensation under Section 2.16(a8.03(a) or 8.04 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(ia) all Loans which would otherwise be made by such Lender Bank as (or continued as or converted intoto) Euro-Dollar Loans Loans, as the case may be, shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); , and
(iib) after each of its Euro-Dollar Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender Bank notifies the Borrower that the circumstances giving rise to such notice suspension or demand for compensation no longer applyexist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other LendersBanks.
Appears in 6 contracts
Samples: Credit Agreement (Duke Capital LLC), Credit Agreement (Duke Energy Corp), Credit Agreement (Duke Energy Corp)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender to make or maintain, to continue or to convert outstanding Loans to, as or into Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender has demanded compensation under Section 2.16(a8.03(a) with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower Borrowers that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(ia) all Loans which would otherwise be made by such Lender as (or continued as or converted intoto) Euro-Dollar Loans Loans, as the case may be, shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); , and
(iib) after each of its Euro-Dollar Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender notifies the Borrower Borrowers that the circumstances giving rise to such notice suspension or demand for compensation no longer applyexist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
Appears in 5 contracts
Samples: Amendment No. 4 and Consent (Piedmont Natural Gas Co Inc), Amendment No. 3 and Consent (Duke Energy Ohio, Inc.), Credit Agreement Amendment (Duke Energy Carolinas, LLC)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender has demanded compensation under Section 2.16(a) 8.03 or 8.04 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(i) exist, all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans shall instead be made as (or converted into) Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and
(ii) after each of its Euro-Dollar Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
Appears in 5 contracts
Samples: Credit Agreement (Tenet Healthcare Corp), 364 Day Credit Agreement (Tenet Healthcare Corp), Credit Agreement (Tenet Healthcare Corp)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.2 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.3 or 8.4 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four five 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) Borrower shall be deemed to have delivered a Notice of Interest Rate Election with respect to such affected Euro-Dollar Loans and thereafter all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans shall be made instead be as Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); , and
(iib) after each of its Euro-Dollar Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Loans instead, and
(c) Borrower that the circumstances giving rise will not be required to make any payment which would otherwise be required by Section 2.13 with respect to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lendersconverted to Base Rate Loans pursuant to clause (a) above.
Appears in 5 contracts
Samples: Revolving Credit Agreement (Amb Property Lp), Revolving Credit Agreement (Equity Office Properties Trust), Revolving Credit Agreement (Eop Operating LTD Partnership)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.2 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.3 or 8.4 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) Borrower shall be deemed to have delivered a Notice of Interest Rate Election with respect to such affected Euro-Dollar Loans and thereafter all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans shall be made instead be as Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); , and
(iib) after each of its Euro-Dollar Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Loans instead, and
(c) Borrower that the circumstances giving rise will not be required to make any payment which would otherwise be required by Section 2.13 with respect to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lendersconverted to Base Rate Loans pursuant to clause (a) above.
Appears in 5 contracts
Samples: Credit Agreement (Equity Residential), Credit Agreement (Erp Operating LTD Partnership), Revolving Credit Agreement (Erp Operating LTD Partnership)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender to make or maintain, to continue or to convert outstanding Loans to, as or into Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender has demanded compensation under Section 2.16(a8.03(a) with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(ia) all Loans which would otherwise be made by such Lender as (or continued as or converted intoto) Euro-Dollar Loans Loans, as the case may be, shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); , and
(iib) after each of its Euro-Dollar Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender notifies the Borrower that the circumstances giving rise to such notice suspension or demand for compensation no longer applyexist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
Appears in 4 contracts
Samples: Term Loan Credit Agreement (Duke Energy CORP), Credit Agreement (Duke Energy CORP), Term Loan Credit Agreement (Piedmont Natural Gas Co Inc)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, to continue or to convert outstanding Loans to, as or into Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender Bank has demanded compensation under Section 2.16(a8.03(a) or 8.04 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower Borrowers that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(ia) all Loans which would otherwise be made by such Lender Bank as (or continued as or converted intoto) Euro-Dollar Loans Loans, as the case may be, shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); , and
(iib) after each of its Euro-Dollar Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender Bank notifies the Borrower Borrowers that the circumstances giving rise to such notice suspension or demand for compensation no longer applyexist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other LendersBanks.
Appears in 4 contracts
Samples: Credit Agreement (Duke Energy CORP), Credit Agreement (Duke Energy CORP), Credit Agreement (Duke Energy CORP)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender to make or maintainmake, or to continue or convert outstanding Loans as or to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender has demanded compensation under Section 2.16(a) 8.03 or 8.04 with respect to its Euro-Dollar Loans andLoans, and in any such case, case the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(i) exist, all Loans which would otherwise be made by such Lender as (or continued as or converted intoto) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and
(ii) after each of its Euro-Dollar Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Borrower that the circumstances giving rise to such notice suspension or demand for compensation no longer applyexist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
Appears in 3 contracts
Samples: Credit Agreement (Lyondell Chemical Co), Credit Agreement (Lyondell Chemical Co), Credit Agreement (Lyondell Chemical Co)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans or Money Market Loans has been suspended pursuant to Section 2.15 8.2 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.3 or 8.4 with respect to its Euro-Dollar Loans and, in any such case, or Money Market Loans and the Borrower shall, by at least four five (5) Euro-Dollar Business Days’ ' prior notice to such Lender Bank through the Administrative Agent, have elected that the provisions of this Section 8.5 shall apply to such LenderBank, then, unless and until such Lender Bank notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) Borrower shall be deemed to have delivered a Notice of Interest Rate Election with respect to such affected Euro-Dollar Loans or Money Market Loans and thereafter all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans or Money Market Loans shall be made instead be as Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans or Money Market Loans of the other LendersBanks); , and
(iib) after each of its Euro-Dollar Loans or Money Market Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans or Money Market Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lendersinstead.
Appears in 3 contracts
Samples: Credit Agreement (Smith Charles E Residential Realty Lp), Credit Agreement (Smith Charles E Residential Realty Lp), Credit Agreement (Smith Charles E Residential Realty Inc)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintainmake, or to continue or convert outstanding Loans as or to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.03 or 8.04 with respect to its Euro-Dollar Loans andLoans, and in any such case, case the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(i) exist, all Loans which would otherwise be made by such Lender Bank as (or continued as or converted intoto) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); and
(ii) after each of its Euro-Dollar Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender Bank notifies the Borrower that the circumstances giving rise to such notice suspension or demand for compensation no longer applyexist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other LendersBanks.
Appears in 3 contracts
Samples: Senior Reducing Revolving Credit Facility (Bellwether Exploration Co), Credit Agreement (Iomega Corp), Credit Agreement (Iomega Corp)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If If: (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 9.2; or (bii) any Lender Bank has demanded compensation under Section 2.16(a) Sections 9.3 or 9.4 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower Borrowers shall, by at least four five (5) Business Days’ prior notice to such Lender Bank through the Administrative Agent, have elected that the provisions of this Section 9.5 shall apply to such LenderBank, then, unless and until such Lender Bank notifies the Borrower Borrowers that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) Each Borrower shall be deemed to have delivered a Notice of Interest Rate Election with respect to such affected Euro-Dollar Loans and thereafter all Loans which would otherwise be made by such Lender Bank to such Borrower as (or continued as or converted into) Dollar-denominated Euro-Dollar Loans shall be made instead be as Base Rate Loans (on which interest and principal shall be payable contemporaneously no Borrowing from such Bank would take effect with the related Euro-Dollar respect to Loans of the other Lenders)denominated in an Alternate Currency; and
(iib) after each of its Euro-Dollar Loans Loan of any Borrower has been repaid, all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its such Borrower’s Base Rate Loans. If such Lender notifies the Loans instead; and
(c) No Borrower that the circumstances giving rise will be required to make any payment which would otherwise be required by Section 2.12 with respect to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lendersconverted to Base Rate Loans pursuant to clause (a) above.
Appears in 3 contracts
Samples: Revolving Credit Agreement (Amb Property Corp), Revolving Credit Agreement (Amb Property Corp), Revolving Credit Agreement (Amb Property Lp)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (a) the obligation of any Lender to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 or (b) any Lender has demanded compensation under Section 2.16(a) with respect to its Euro-Dollar Loans and, in any such case, the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(i) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and
(ii) after each of its Euro-Dollar Loans has been repaidrepaid (or converted to a Base Rate Loan), all payments of principal that would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
Appears in 3 contracts
Samples: 364 Day Credit Agreement (PPL Energy Supply LLC), Five Year Credit Agreement (PPL Energy Supply LLC), Five Year Credit Agreement (PPL Energy Supply LLC)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender to make or maintainmake, or to continue or convert outstanding Loans as or to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender has demanded compensation under Section 2.16(a8.03(a) with respect to its Euro-Dollar Loans and, in any such case, and the applicable Borrower shall, by at least four five Business Days’ prior notice to such Lender through the applicable Administrative Agent, have elected that the provisions of this Section shall apply to such Lender, then, unless and until such Lender notifies the such Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(ia) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans Loans, shall be made instead be as Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); , and
(iib) after each of its Euro-Dollar Loans has been repaidconverted to a Base Rate Loan, all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender notifies the such Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
Appears in 2 contracts
Samples: Credit Agreement (Ryerson Inc.), Credit Agreement (Ryerson Tull Inc /De/)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender to make or maintainmake, or to continue or convert outstanding Loans as or to, Euro-Dollar Loans to a Borrower has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender has demanded compensation from a Borrower under Section 2.16(a) 8.03 or 8.04 with respect to its Euro-Dollar Loans andto such Borrower, and in any such case, the case such Borrower shall, by at least four 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 such Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(i) exist, all Loans to such Borrower which would otherwise be made by such Lender as (or continued as or converted intoto) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and
(ii) after each of its Euro-Dollar Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the such Borrower that the circumstances giving rise to such notice suspension or demand for compensation no longer applyexist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
Appears in 2 contracts
Samples: Credit Agreement (Consolidated Edison Co of New York Inc), Credit Agreement (Consolidated Edison Inc)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, maintain Euro-Dollar Loans to the Borrower has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.03 or 8.04 with respect to its Euro-Euro- Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); and
(iib) after each of its Euro-Dollar Loans has been repaidrepaid (or converted into a Base Rate Loan), all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender Bank notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other LendersBanks.
Appears in 2 contracts
Samples: Credit Agreement (Universal City Development Partners LTD), Credit Agreement (Universal City Development Partners LTD)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.2 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.3 or 8.4 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four five 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) Borrower shall be deemed to have delivered a Notice of Interest Rate Election with respect to such affected Euro-Dollar Loans and thereafter all Loans which would otherwise be made by such Lender Bank to the Borrower as (or continued as or converted into) Dollar-denominated Euro-Dollar Loans shall be made instead be as Base Rate Loans, and no Borrowing from such Bank would take effect with respect to Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders)denominated in an Alternate Currency; and
(iib) after each of its Euro-Dollar Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Loans instead, and
(c) Borrower that the circumstances giving rise will not be required to make any payment which would otherwise be required by Section 2.14 with respect to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lendersconverted to Base Rate Loans pursuant to clause (a) above.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Amb Property Lp), Revolving Credit Agreement (Amb Property Corp)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (a) the obligation of any Lender to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 2.14 or (b) any Lender has demanded compensation under Section 2.16(a2.15(a) with respect to its Euro-Dollar Loans and, in any such case, the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(i) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and
(ii) after each of its Euro-Dollar Loans has been repaidrepaid (or converted to a Base Rate Loan), all payments of principal that would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
Appears in 2 contracts
Samples: Five Year Credit Agreement (PPL Electric Utilities Corp), Credit Agreement (PPL Electric Utilities Corp)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.2 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.3 or 8.4 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four five 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) Borrower shall be deemed to have delivered a Notice of Interest Rate Election with respect to such affected Euro-Dollar Loans and thereafter all Loans which would otherwise be made by such Lender Bank to the Borrower as (or continued Dollar denominated as or converted into) Euro-Dollar Loans shall be made instead be as Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); , and no Borrowing from such Bank would take effect with respect to Loans denominated in an Alternate Currency, and
(iib) after each of its Euro-Dollar Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Loans instead, and
(c) Borrower that the circumstances giving rise will not be required to make any payment which would otherwise be required by Section 2.13 with respect to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lendersconverted to Base Rate Loans pursuant to clause (a) above.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Eop Operating LTD Partnership), Revolving Credit Agreement (Eop Operating LTD Partnership)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.2 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.3 or 8.4 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four five 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) Borrower shall be deemed to have delivered a Notice of Interest Rate Election with respect to such affected Euro-Dollar Loans and thereafter all Loans which would otherwise be made by such Lender Bank to the Borrower as (or continued as or converted into) Dollar-denominated Euro-Dollar Loans shall be made instead be as Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders)Loans; and
(iib) after each of its Euro-Dollar Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Loans instead, and
(c) Borrower that the circumstances giving rise will not be required to make any payment which would otherwise be required by Section 2.14 with respect to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lendersconverted to Base Rate Loans pursuant to clause (a) above.
Appears in 2 contracts
Samples: Credit Agreement (Amb Property Corp), Credit Agreement (Amb Property Lp)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (a) the obligation of any Lender to make or maintainmake, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (b) any Lender has demanded compensation under Section 2.16(a) 8.03 or 8.04 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower Borrowers shall, by at least four 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 Borrower Borrowers that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(i) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and
(ii) after each of its Euro-Dollar Loans has been repaidrepaid (or converted to a Base Rate Loan), all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender notifies the Borrower Borrowers that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
Appears in 2 contracts
Samples: Credit Agreement (Metro-Goldwyn-Mayer Inc), Credit Agreement (Metro-Goldwyn-Mayer Inc)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, maintain Euro-Dollar Loans to the Borrower has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.03 or 8.04 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); and
(iib) after each of its Euro-Dollar Loans has been repaidrepaid (or converted into a Base Rate Loan), all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender Bank notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other LendersBanks.
Appears in 2 contracts
Samples: Credit Agreement (Universal City Development Partners LTD), Credit Agreement (Universal City Development Partners LTD)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.2 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.3 or 8.4 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) Borrower shall be deemed to have delivered a Notice of Interest Rate Election with respect to such affected Euro-Dollar Loans and thereafter all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans shall be made instead be as Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); , and no Borrowing from such Bank shall take effect with respect to Loans denominated in an Alternate Currency, and
(iib) after each of its Euro-Dollar Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Loans instead, and
(c) Borrower that the circumstances giving rise will not be required to make any payment which would otherwise be required by Section 2.13 with respect to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lendersconverted to Base Rate Loans pursuant to clause (a) above.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Equity Residential), Revolving Credit Agreement (Erp Operating LTD Partnership)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, maintain Euro-Dollar Loans has been suspended pursuant to Section 2.15 10.02 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) with respect to its Euro-Dollar Loans and10.03, in any such case, and the Borrower shall, by at least four 5 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(ia) all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans Loans, shall be made instead be as Base Rate Loans Loans, as the Borrower may elect in the notice to such Bank through the Agent referred to herein above (on which in all cases interest and principal on such Loans shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); , and
(iib) after each of its Euro-Dollar Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans and its Base Rate Loans instead. If such Lender notifies In the event that the Borrower shall elect that the circumstances giving rise provisions of this Section shall apply to any Bank, the Borrower shall remain liable for, and shall pay to such notice no longer applyBank as provided herein, the principal amount of each all amounts due such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day Bank under Section 10.03 in respect of the next succeeding Interest Period applicable to period preceding the related Euro-Dollar date of conversion of such Bank's Loans of resulting from the other LendersBorrower's election.
Appears in 2 contracts
Samples: Syndicated Credit Agreement (Winston Hotels Inc), Syndicated Credit Agreement (Winston Hotels Inc)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender to make or maintain, or to convert outstanding Loans to, maintain Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender has demanded compensation under Section 2.16(a8.03(a) with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(ia) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); , and
(iib) after each of its Euro-Dollar Loans has been repaidrepaid (or converted to a Base Rate Loan), all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
Appears in 1 contract
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender has demanded compensation under Section 2.16(a) 8.03 or 8.04 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(i) exist, all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans shall instead be made as (or converted into) Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and
(ii) after each of its Euro-Dollar Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.. 77
Appears in 1 contract
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (a) the obligation of any Lender to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 or (b) any Lender has demanded compensation under Section 2.16(a) with respect to its Euro-Dollar Loans and, in any such case, the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
: (i) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and
and (ii) after each of its Euro-Dollar Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.. ARTICLE III [RESERVED] ARTICLE IV CONDITIONS Section 4.01
Appears in 1 contract
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If If: (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 9.2; or (bii) any Lender Bank has demanded compensation under Section 2.16(a) Sections 9.3 or 9.4 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower Borrowers shall, by at least four five (5) Business Days’ prior notice to such Lender Bank through the Administrative Agent, have elected that the provisions of this Section 9.5 shall apply to such LenderBank, then, unless and until such Lender Bank notifies the Borrower Borrowers that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) Each Borrower shall be deemed to have delivered a Notice of Interest Rate Election with respect to such affected Euro-Dollar Loans and thereafter all Loans which would otherwise be made by such Lender Bank to such Borrower as (or continued as or converted into) Dollar-denominated Euro-Dollar Loans shall be made instead be as Base Rate Loans (on which interest and principal shall be payable contemporaneously no Borrowing from such Bank would take effect with the related Euro-Dollar respect to Loans of the other Lenders)denominated in an Alternate Currency; and
(iib) after each of its Euro-Dollar Loans Loan of any Borrower has been repaid, all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its such Borrower’s Base Rate Loans. If such Lender notifies the Loans instead; and Table of Contents
(c) No Borrower that the circumstances giving rise will be required to make any payment which would otherwise be required by Section 2.12 with respect to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lendersconverted to Base Rate Loans pursuant to clause (a) above.
Appears in 1 contract
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (a) the obligation of any Lender to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 or (b) any Lender has demanded compensation under Section 2.16(a) with respect to its Euro-Dollar Loans and, in any such case, the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
: (i) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and
and (ii) after each of its Euro-Dollar Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
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Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (a) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, maintain Euro-Dollar Loans has been suspended pursuant to Section 2.15 11.02 or (b) any Lender Bank has demanded compensation under Section 2.16(a) with respect to its Euro-Dollar Loans and11.03, in any such case, and the Borrower shall, by at least four five (5) 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(i) all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans shall be made instead be as Base Rate Loans (on which in all cases interest and principal on such Loans shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); , and
(ii) after each of its Euro-Dollar Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender notifies In the event that the Borrower shall elect that the circumstances giving rise provisions of this Section shall apply to any Bank, the Borrower shall remain liable for, and shall pay to such notice no longer applyBank as provided herein, the principal amount of each all amounts due such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day Bank under Section 11.03 in respect of the next succeeding Interest Period applicable to period preceding the related Euro-Dollar date of conversion of such Bank's Loans of resulting from the other LendersBorrower's election.
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Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, maintain Euro-Dollar Loans to any Borrower has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender Bank has demanded compensation under Section 2.16(a8.03(a) with respect to its Euro-Dollar Loans and, in any or 2.16 and such case, the Borrower shall, by at least four 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 such Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(ia) all Loans to such Borrower which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); , and
(iib) after each of its Euro-Dollar Loans to such Borrower has been repaidrepaid (or converted to a Base Rate Loan), all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender Bank notifies the such Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a subject to the provisions of Section 2.10 in the same manner as the Euro-Dollar Loans in the Group of Loans in which such Base Rate Loan on is included, effective as of the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lendersthereto.
Appears in 1 contract
Samples: Credit Agreement (Hancock John Financial Services Inc)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, maintain Base Rate/Euro-Dollar Loans or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 10.02 or (bii) any Lender Bank has demanded compensation under Section 2.16(a10.03(a) with respect to its Euro-Dollar Loans and, in any such case, and the Borrower Trust shall, by at least four five Euro-Dollar Business Days’ prior notice to such Lender Bank through the Administrative Agent, have elected that the provisions of this Section 10.04 shall apply to such LenderBank, then, then unless and until such Lender Bank notifies the Borrower Trust that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(ia) all Loans which would otherwise be made by such Lender Bank as (Base Rate/Euro-Dollar Loans or continued as Euro-Dollar Loans or converted into) into Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Base Rate/Euro-Dollar Loans or Euro-Dollar Loans, as applicable, of the other LendersBanks); , and
(iib) after each of its Euro-Dollar Loans has been repaidrepaid (or converted to a Base Rate Loan), all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender Bank notifies the Borrower Trust that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan Loan, as the case may be, on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other LendersBanks.
Appears in 1 contract
Samples: Liquidity Agreement (PHH Corp)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. (a) If (ai) the obligation of any Lender Bank to make or maintainmake, or to continue or convert outstanding Loans toas or into, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.03 or 8.04 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four five Euro-Dollar Business Days’ ' prior notice to such Lender Bank through the Administrative Agent, have elected that the provisions of this Section 8.05(a) shall apply to such LenderBank, then, unless and until such Lender Bank notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(i) exist, all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans shall be made or continued instead be as Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); and
(ii) after each of its Euro-Dollar Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender Bank notifies the Borrower that the circumstances giving rise to such notice no longer applyexist, the principal amount of each such Base Rate Loan that was a Euro-Dollar Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other LendersBanks.
(b) If (i) any Bank has demanded compensation under Section 8.03 with respect to its Euro-Dollar Loans or (ii) the Borrower has become obligated to pay any Taxes or other amounts to or for the account of any Bank pursuant to Section 8.04, and the Borrower shall, by at least five Euro-Dollar Business Days' prior notice to the Banks through the Agent, have elected that the provisions of this Section 8.05(b) shall apply to all of the Banks, then the Borrower shall, on the fifth Euro-Dollar Business Day following such notice, prepay in full the then outstanding principal amount of each outstanding Euro-Dollar Loan of each Bank, together with accrued interest thereon.
Appears in 1 contract
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender to make or maintainmake, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender has demanded compensation under Section 2.16(a) 8.03 or 8.04 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and
(iib) after each of its Euro-Dollar Loans has been repaidrepaid (or converted to a Base Rate Loan), all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
Appears in 1 contract
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, maintain Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) with respect to its Euro-Dollar Loans and8.03, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(ia) all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans shall be made instead be as Base Rate Loans (on which interest and principal on such Loans shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); , and
(iib) after each of its Euro-Dollar Loans has have been repaid, all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender notifies In the event that the Borrower shall elect that the circumstances giving rise provisions of this Section shall apply to any Bank, the Borrower shall remain liable for, and shall pay to such notice no longer applyBank as provided herein, the principal amount of each all amounts due such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day Bank under Section 8.03 in respect of the next succeeding Interest Period applicable to period preceding the related Euro-Dollar date of conversion of such Bank's Loans of resulting from the other LendersBorrower's election.
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Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.2 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.3 or 8.4 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four five 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) Borrower shall be deemed to have delivered a Notice of Interest Rate Election with respect to such affected Euro-Dollar Loans and thereafter all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans shall be made instead be as Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); , and
(iib) after each of its Euro-Dollar Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Loans instead, and
(c) Borrower that the circumstances giving rise will not be required to make any payment which would otherwise be required by Section 2.12 with respect to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lendersconverted to Base Rate Loans pursuant to clause (a) above.
Appears in 1 contract
Samples: Term Loan Agreement (Equity Office Properties Trust)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans or Money Market Loans has been suspended pursuant to Section 2.15 8.2 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.3 or 8.4 with respect to its Euro-Dollar Loans and, in any such case, or 105 Money Market Loans and the Borrower shall, by at least four five (5) Euro-Dollar Business Days’ ' prior notice to such Lender Bank through the Administrative Agent, have elected that the provisions of this Section 8.5 shall apply to such LenderBank, then, unless and until such Lender Bank notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) Borrower shall be deemed to have delivered a Notice of Interest Rate Election with respect to such affected Euro-Dollar Loans or Money Market Loans and thereafter all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans or Money Market Loans shall be made instead be as Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans or Money Market Loans of the other LendersBanks); , and
(iib) after each of its Euro-Dollar Loans or Money Market Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans or Money Market Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lendersinstead.
Appears in 1 contract
Samples: Credit Agreement (Smith Charles E Residential Realty Lp)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintainmake, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.2 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.3 or 8.4 with respect to its CD Loans or Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four five Euro-Dollar Business Days’ ' prior notice to such Lender Bank through the Administrative Lead Agent, have elected that the provisions of this Section shall apply to such LenderBank, then, unless and until such Lender Bank notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) Borrower shall be deemed to have delivered a Notice of Interest Rate Election with respect to such affected Euro-Dollar Loans or CD Loans and thereafter all Loans which would otherwise be made by such Lender as (or continued as or converted into, as the case may be) by such Bank as Euro-Dollar Loans shall be made instead be as Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans or CD Loans of the other Lenders); Banks) unless the Borrower shall deliver a Notice of Interest Rate Election specifying CD Loans, and
(iib) after each of its Euro-Dollar Loans or CD Loans (as the case may be) has been repaidrepaid (or converted to a Base Rate Loan), all payments of principal that which would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Loans instead, and
(c) Borrower that the circumstances giving rise will not be required to make any 100 102 payment which would otherwise be required by Section 2.14 with respect to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lendersor CD Loans converted to CD Loans or Base Rate Loans pursuant to clause (a) above.
Appears in 1 contract
Samples: Revolving Credit Agreement (Trinet Corporate Realty Trust Inc)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.2 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.3 or 8.4 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four five Euro-Dollar Business Days’ ' prior notice to such Lender Bank through the Administrative Lead Agent, have elected that the provisions of this Section shall apply to such LenderBank, then, unless and until such Lender Bank notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) Borrower shall be deemed to have delivered a Notice of Interest Rate Election with respect to such affected Euro-Dollar Loans and thereafter all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans shall be made instead be as Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); , and
(iib) after each of its Euro-Dollar Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Loans instead, and
(c) Borrower that the circumstances giving rise will not be required to make any payment which would otherwise be required by Section 2.13 with respect to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lendersconverted to Base Rate Loans pursuant to clause (a) above.
Appears in 1 contract
Samples: Revolving Credit Agreement (Erp Operating LTD Partnership)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintainmake, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender Bank has demanded compensation under Section 2.16(a8.03(a) with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); and
(iib) after each of its Euro-Dollar Loans has been repaidrepaid (or converted to a Base Rate Loan), all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender Bank notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other LendersBanks.
Appears in 1 contract
Samples: Credit Agreement (General American Transportation Corp /Ny/)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans to the Borrower has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender has demanded compensation under Section 2.16(a) 8.03 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
exist, (ia) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and
, and (iib) after each of its Euro-Dollar Loans has been repaidrepaid (or converted to a Base Rate Loan), all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
Appears in 1 contract
Samples: Term Loan Agreement (Qwest Communications International Inc)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintainmake, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.2 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.3 or 8.4 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower Company shall, by at least four 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 Borrower Company that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); and
(iib) after each of its Euro-Dollar Loans has been repaidrepaid (or converted to a Base Rate Loan), all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender Bank notifies the Borrower Company that the circumstances giving rise to such notice no longer applyapply (which such Bank agrees to do promptly upon such circumstances no longer applying, with a copy to the Agent), the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other LendersBanks.
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Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (a) Subject to paragraph (c) below, if (i) the obligation of any Lender Bank to make or maintain, or to convert continue outstanding Loans to, as Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.03 or 8.04 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(iA) all Loans which would otherwise be made by such Lender Bank as (or continued as or converted intoas) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); and
(iiB) after each of its Euro-Dollar Loans has been repaidrepaid (or converted to a Base Rate Loan), all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender Bank notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other LendersBanks.
(b) Upon the occurrence and during the continuance of any Event of Default, if requested by the Required Banks, subject to paragraph (c) below (A) the Loan, to the extent it is a Euro-Dollar Loan, will automatically, on the last day of the then existing Interest Period therefor, convert into a Base Rate Loan and (B) the Banks shall have no obligation to maintain the Loan as, or to convert the Loan into, a Euro-Dollar Loan.
(c) If any of the events described in paragraph (a) or (b) above shall occur, requiring the conversion of the Loan from a Euro-Dollar Loan to a Base Rate Loan, the portion of the Loan held by a Bank organized under the laws of Mexico shall not be converted into a Base Rate Loan if such conversion would violate any applicable law, and such portion of the Loan shall continue as a Euro-Dollar Loan; provided, that if such Bank continues its portion of the Loan as a Euro-Dollar Loan pursuant to this paragraph (c), the Applicable Margin shall be increased or decreased, as necessary, so that the annual interest rate applicable to such portion of the Loan shall equal the annual interest rate applicable to the other portion of the Loan which has been converted from a Euro-Dollar Loan into a Base Rate Loan pursuant to paragraph (a) or (b) above.
Appears in 1 contract
Samples: Credit Agreement (Loews Cineplex Entertainment Corp)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (a) the obligation of any Lender to make or maintainmake, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (b) any Lender has demanded compensation under Section 2.16(a) 8.03 or 8.04 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(i) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and
(ii) after each of its Euro-Dollar Loans has been repaidrepaid (or converted to a Base Rate Loan), all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
Appears in 1 contract
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender to make or maintainmake, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender has demanded compensation under Section 2.16(a) 8.03 or 8.04 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower Company shall, by at least four 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 Borrower Company that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans shall instead be made as (or continued as converted into) Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); , and
(iib) after each of its Euro-Dollar Loans has been repaidrepaid (or converted to a Base Rate Loan), all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender notifies the Borrower Company that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
Appears in 1 contract
Samples: Credit Agreement (Allergan Inc)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (a) the obligation of any Lender to make or maintainmake, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (b) any Lender has demanded compensation under Section 2.16(a) 8.03 or 8.04 with respect to its Euro-Euro- Dollar Loans and, in any such case, and the Borrower Borrowers shall, by at least four 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 Borrower Borrowers that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(i) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and
(ii) after each of its Euro-Dollar Loans has been repaidrepaid (or converted to a Base Rate Loan), all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender notifies the Borrower Borrowers that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
Appears in 1 contract
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.2 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.3 or 8.4 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four five 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) Borrower shall be deemed to have delivered a Notice of Interest Rate Election with respect to such affected Euro-Dollar Loans and thereafter all Loans which would otherwise be made by such Lender Bank to the Borrower as (or continued as or converted into) Dollar-denominated Euro-Dollar Loans shall be made instead be as Base Rate Loans, and no Borrowing from such Bank would take effect with respect to Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders)denominated in an Alternate Currency; and
(iib) after each of its Euro-Dollar Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Loans instead, and
(c) Borrower that the circumstances giving rise will not be required to make any payment which would otherwise be required by Section 2.14 with respect to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lendersconverted to Base Rate Loans pursuant to clause (a) above.
Appears in 1 contract
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender to make or maintainEuro-Dollar Loans, or to convert or continue outstanding Loans to, into or as Euro-Dollar Loans Loans, has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender has demanded compensation under Section 2.16(a) 8.03 or 8.04 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and
(iib) after each of its Euro-Dollar Loans has been repaidrepaid (or converted to a Base Rate Loan), all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
Appears in 1 contract
Base Rate Loans Substituted for Affected Euro-Dollar Loans. (a) If (ai) the obligation of any Lender Bank to make or maintainmake, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 Sections 8.1 or 8.2 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.3 or 8.4 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(i) exist, all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans shall be made instead be as Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); and
(ii) , and after each of its Euro-Dollar Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate Loans. Loans instead.
(b) If such Lender any Bank notifies the Borrower that the circumstances giving rise to such the notice referred to in paragraph (a) above no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other LendersBanks.
Appears in 1 contract
Samples: Credit Agreement (Ventas Inc)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender to make or maintainmake, or to continue or convert outstanding U.S. Dollar-Denominated Loans as or to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender has demanded compensation under Section 2.16(a) 8.03 or 8.04 with respect to its Euro-Dollar Loans andLoans, and in any such case, case the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
exist (i) which notice shall be given promptly), all Loans which would otherwise be made by such Lender as (or continued as or converted intoto) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and
(ii) after each of its Euro-Dollar Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Borrower that the circumstances giving rise to such notice suspension or demand for compensation no longer applyexist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
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Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (a) the obligation of any Lender to make make, or maintain, to continue or to convert outstanding Loans as or to, Euro-Dollar Loans to the Borrower has been suspended pursuant to Section 2.15 10.02 or (b) any Lender has demanded compensation under Section 2.16(a) 10.03 or 10.04 with respect to its Euro-Dollar Loans and, in any such case, to the Borrower and the Borrower shall, by at least four five Euro-Dollar Business Days’ ' prior notice to such Lender through the Administrative Agent, have elected that the provisions of this Section 10.05 shall apply to such Lender, then, unless and until such Lender notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(i) exist, all Loans to the Borrower which would otherwise be made by such Lender as (or continued as or converted intoto) Euro-Dollar Loans shall be made instead be as Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and
(ii) after each of its Euro-Dollar Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Borrower that the circumstances giving rise to such notice suspension or demand for compensation no longer applyexist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
Appears in 1 contract
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.2 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.3 or 8.4 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four five 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) Borrower shall be deemed to have delivered a Notice of Interest Rate Election with respect to such affected Euro-Dollar Loans and thereafter all Loans which would otherwise be made by such Lender Bank to the Borrower as (or continued as or converted into) Euro-Dollar Loans shall be made instead be as Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders)Loans; and
(iib) after each of its Euro-Dollar Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Loans instead, and
(c) Borrower that the circumstances giving rise will not be required to make any payment which would otherwise be required by Section 2.14 with respect to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lendersconverted to Base Rate Loans pursuant to clause (a) above.
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Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, maintain Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) with respect to its Euro-Dollar Loans and8.03, in any such case, and the Borrower shall, by at least four five (5) 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(ia) all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans shall be made instead be as Base Rate Loans (on which in all cases interest and principal on such Loans shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); , and
(iib) after each of its Euro-Dollar Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender notifies In the event that the Borrower shall elect that the circumstances giving rise provisions of this Section shall apply to any Bank, the Borrower shall remain liable for, and shall pay to such notice no longer applyBank as provided herein, the principal amount of each all amounts due such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day Bank under Section 8.03 in respect of the next succeeding Interest Period applicable to period preceding the related Euro-Dollar date of conversion of such Bank's Loans of resulting from the other LendersBorrower's election.
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Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender to make or maintain, to continue or to convert outstanding Loans to, Euro-Dollar as or into Euro‑Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender has demanded compensation under Section 2.16(a8.03(a) with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(ia) all Loans which would otherwise be made by such Lender as (or continued as or converted intoto) Euro-Dollar Loans Euro‑Dollar Loans, as the case may be, shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); , and
(iib) after each of its Euro-Dollar Euro‑Dollar Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender notifies the Borrower that the circumstances giving rise to such notice suspension or demand for compensation no longer applyexist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
Appears in 1 contract
Samples: Term Loan Credit Agreement (Duke Energy Progress, Llc.)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.2 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.3 or 8.4 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) Borrower shall be deemed to have delivered a Notice of Interest Rate Election with respect to such affected Euro-Dollar Loans and thereafter all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans shall be made instead be as Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); , and
(iib) after each of its Euro-Dollar Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Loans instead, and
(c) Borrower that the circumstances giving rise will not be required to make any payment which would otherwise be required by Section 2.13 with respect to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lendersconverted to Base Rate Loans pursuant to clause (a) above.
Appears in 1 contract
Samples: Revolving Credit Agreement (Equity Residential Properties Trust)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender to make or maintain, to continue or to convert outstanding Loans to, Euro-Dollar as or into Euro‑Dollar Loans has been suspended pursuant to Section 2.15 Section 8.02 or (bii) any Lender has demanded compensation under Section 2.16(aSection 8.03(a) with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(ia) all Loans which would otherwise be made by such Lender as (or continued as or converted intoto) Euro-Dollar Loans Euro‑Dollar Loans, as the case may be, shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); , and
(iib) after each of its Euro-Dollar Euro‑Dollar Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender notifies the Borrower that the circumstances giving rise to such notice suspension or demand for compensation no longer applyexist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.. 37
Appears in 1 contract
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.2 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.3 or 8.4 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) Borrower shall be deemed to have delivered a Notice of Interest Rate Election with respect to such affected Euro-Dollar Loans and thereafter all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans shall be made instead be as Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); , and
(iib) after each of its Euro-Dollar Loans has been repaid, all payments of principal that which would otherwise be 119 applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Loans instead, and
(c) Borrower that the circumstances giving rise will not be required to make any payment which would otherwise be required by Section 2.13 with respect to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lendersconverted to Base Rate Loans pursuant to clause (a) above.
Appears in 1 contract
Samples: Revolving Credit Agreement (Equity Residential Properties Trust)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender to make or maintainmake, or to continue or convert outstanding Loans as or to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender has demanded compensation under Section 2.16(a) 8.03 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 the Lender demanding such Lendercompensation, then, unless and until such Lender notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(i) exist, all Loans which would otherwise be made by such Lender as (or continued as or converted intoto) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and
(ii) after each of its Euro-Dollar Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Borrower that the circumstances giving rise to such notice suspension or demand for compensation no longer applyexist, the principal amount of each such Base Rate Loan shall shall, subject to Section 8.02, be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
Appears in 1 contract
Samples: Credit Agreement (Marathon Oil Corp)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintainmake, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.2 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.3 or 8.4 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); and
(iib) after each of its Euro-Dollar Loans has been repaidrepaid (or converted to a Base Rate Loan), all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender Bank notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other LendersBanks.
Appears in 1 contract
Samples: Credit Agreement (Dean Foods Co)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (aI) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.2 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.3 or 8.4 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) Borrower shall be deemed to have delivered a Notice of Interest Rate Election with respect to such affected Euro-Dollar Loans and thereafter all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans shall be made instead be as Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); , and
(iib) after each of its Euro-Dollar Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Loans instead, and
(c) Borrower that the circumstances giving rise will not be required to make any payment which would otherwise be required by Section 2.13 with respect to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lendersconverted to Base Rate Loans pursuant to clause (a) above.
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Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender to make or maintainmake, or to continue or convert outstanding Loans as or to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender has demanded compensation under Section 2.16(a) 8.03 or 8.04 with respect to its Euro-Dollar Loans and, and in any such case, case the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(i) exist, all Loans which would otherwise be made by such Lender as (or continued as or converted intoto) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related CD Loans or Euro-Dollar Loans of the other Lenders); and
(ii) after each of its Euro-Dollar Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Borrower that the circumstances giving rise to such notice suspension or demand for compensation no longer applyexist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
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Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender to make or maintainmake, or to continue or convert outstanding Loans as or to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.2 or (bii) any Lender has demanded compensation under Section 2.16(a) 8.3 or 8.4 with respect to its Euro-Dollar Loans andLoans, and in any such case, case the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
exist (i) which notice shall be given promptly), all Loans which would otherwise be made by such Lender as (or continued as or converted intoto) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and
(ii) after each of its Euro-Dollar Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Borrower that the circumstances giving rise to such notice suspension or demand for compensation no longer applyexist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
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Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.2 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.3 or 8.4 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) Borrower shall be deemed to have delivered a Notice of Interest Rate Election with respect to such affected Euro-Dollar Loans and thereafter all Loans or any portion of such Bank’s Term Loan which would otherwise be made by such Lender as (or continued as or converted into) into a Euro-Dollar Loans Loan shall be continued instead be as a Base Rate Loans Loan (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); , and
(iib) after each of its Euro-Dollar Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Loans instead, and
(c) Borrower that the circumstances giving rise will not be required to make any payment which would otherwise be required by Section 2.11 with respect to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lendersconverted to Base Rate Loans pursuant to clause (a) above.
Appears in 1 contract
Samples: Term Loan Agreement (Erp Operating LTD Partnership)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.2 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.3 or 8.4 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four five 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) Borrower shall be deemed to have delivered a Notice of Interest Rate Election with respect to such affected Euro-Dollar Loans and thereafter all Loans which would otherwise be made by such Lender Bank to the Borrower as (or continued as or converted into) Dollar-denominated Euro-Dollar Loans shall be made instead be as Base Rate Loans, and no 107 Borrowing from such Bank would take effect with respect to Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders)denominated in an Alternate Currency; and
(iib) after each of its Euro-Dollar Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Loans instead, and
(c) Borrower that the circumstances giving rise will not be required to make any payment which would otherwise be required by Section 2.14 with respect to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lendersconverted to Base Rate Loans pursuant to clause (a) above.
Appears in 1 contract
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender to make or maintain, or to convert outstanding Loans to, maintain Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender has demanded compensation under Section 2.16(a8.03(a) with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four five Euro-Dollar Business Days’ 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(ia) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans Loans, and (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and
(iib) after each of its outstanding Euro-Dollar Loans has been repaidrepaid (or converted to a Base Rate Loan), all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender notifies the Borrower that the circumstances giving rise to such notice no longer apply, the Borrower shall elect that the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
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Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender to make or maintainmake, or to continue or convert outstanding Loans as or to, Euro-Dollar Currency Loans has been suspended pursuant to Section 2.15 10.02 or (bii) any Lender has demanded compensation under Section 2.16(a10.03(a) with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four five 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(ia) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans Currency Loans, shall be made instead be as 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-Dollar Fixed Rate Loans of the other Lenders); and
(ii) after each of its Euro-Dollar Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Borrower that the circumstances giving rise to such notice suspension or demand for compensation no longer applyexist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Currency Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar 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 10.05 never applied thereto.
Appears in 1 contract
Samples: Credit Agreement (Aramark Corp/De)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (a) the obligation of any Lender to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 or (b) any Lender has demanded compensation under Section 2.16(a) with respect to its Euro-Dollar Loans and, in any such case, the Borrower shall, by at least four 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 Xxxxxx notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(i) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and
(ii) after each of its Euro-Dollar Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
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Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, maintain Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.2 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) with respect to its Euro-Dollar Loans and8.3, in any such case, and the Borrower shall, by at least four 5 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(ia) all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans shall be made instead be as Base Rate Loans (on which in all cases interest and principal on such Loans shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); , and
(iib) after each of its Euro-Dollar Loans has been repaid, all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies Loans instead.
(c) In the event that the Borrower shall elect that the circumstances giving rise provisions of this Section shall apply to any Bank, the Borrower shall remain liable for, and shall pay to such notice no longer applyBank as provided herein, the principal amount of each all amounts due such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day Bank under Section 8.3 in respect of the next succeeding Interest Period applicable to period preceding the related Euro-Dollar date of conversion of such Bank's Loans of resulting from the other LendersBorrower's election.
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Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintainmake, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.03 or 8.04 with respect to its Euro-Euro- Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); and
(iib) after each of its Euro-Dollar Loans has been repaidrepaid (or converted to a Base Rate Loan), all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender Bank notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other LendersBanks.
Appears in 1 contract
Samples: Credit Agreement (Dean Foods Co)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender to make or maintain, or to convert outstanding Loans to, maintain Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender has demanded compensation under Section 2.16(a8.03(a) with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four five Euro-Dollar Business Days’ 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(ia) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); Loans, and
(iib) after each of its outstanding Euro-Dollar Loans has been repaidrepaid (or converted to a Base Rate Loan), all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender notifies the Borrower that the circumstances giving rise to such notice no longer apply, the Borrower shall elect that the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
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Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (a) the obligation of any Lender to make continue or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 or (b) any Lender has demanded compensation under Section 2.16(a) with respect to its Euro-Dollar Loans and, in any such case, the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(i) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and
(ii) after each of its Euro-Dollar Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
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Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintainmake, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.03 or 8.04 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); and
(iib) after each of its Euro-Dollar Loans has been repaidrepaid (or converted to a Base Rate Loan), all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender Bank notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other LendersBanks.
Appears in 1 contract
Samples: Term Credit Agreement (American Mobile Satellite Corp)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintainmake, or to convert outstanding Loans to, Euro-Dollar Loans to the Borrower has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.03 or 8.04 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Euro- Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); and
(iib) after each of its Euro-Dollar Loans has been repaidrepaid (or converted to a Base Rate Loan), all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender Bank notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other LendersBanks.
Appears in 1 contract
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (a) the obligation of any Lender to make make, or maintain, to continue or to convert outstanding Loans as or to, Euro-Dollar Loans to the Borrower has been suspended pursuant to Section 2.15 10.02 or (b) any Lender has demanded compensation under Section 2.16(a) 10.03 or 10.04 with respect to its Euro-Dollar Loans and, in any such case, to the Borrower and the Borrower shall, by at least four five Euro-Dollar Business Days’ prior notice to such Lender through the Administrative Agent, have elected that the provisions of this Section 10.06 shall apply to such Lender, then, unless and until such Lender notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(i) exist, all Loans to the Borrower which would otherwise be made by such Lender as (or continued as or converted intoto) Euro-Dollar Loans shall be made instead be as Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and
(ii) after each of its Euro-Dollar Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Borrower that the circumstances giving rise to such notice suspension or demand for compensation no longer applyexist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
Appears in 1 contract
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, maintain Euro-Dollar Loans has been suspended pursuant to Section 2.15 8.02 or (bii) any Lender Bank has demanded compensation under Section 2.16(a) 8.03 or 8.04 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:
(ia) all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Base. Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other LendersBanks); , and
(iib) after each of its Euro-Dollar Loans has been repaidrepaid (or converted to a Base Rate Loan), all payments of principal that which would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender Bank notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other LendersBanks.
Appears in 1 contract
Samples: Credit Agreement (Cit Group Inc)
Base Rate Loans Substituted for Affected Euro-Dollar Loans. If If
(a) the obligation of any Lender to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.15 2.14 or (b) any Lender has demanded compensation under Section 2.16(a2.15(a) with respect to its Euro-Dollar Loans and, in any such case, the Borrower shall, by at least four 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 Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(i) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans of the other Lenders); and
(ii) after each of its Euro-Dollar Loans has been repaidrepaid (or converted to a Base Rate Loan), all payments of principal that would otherwise be applied to repay such Euro-Dollar Loans shall instead be applied to repay its Base Rate LoansLoans instead. If such Lender notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans of the other Lenders.
Appears in 1 contract
Samples: 364 Day Credit Agreement (PPL Corp)
