Base Rate Loans Substituted for Affected Fixed Rate Loans. If (i) the obligation of any Lender to make, or to convert or continue outstanding Loans to, Euro-Currency Loans in any currency has been suspended pursuant to Section 8.02 or (ii) any Lender has demanded compensation under Section 8.03 or 8.04 with respect to its Euro-Currency Loans in any currency and the Company shall, by at least five Euro-Dollar Business Days’ prior notice to such Lender through the Administrative Agent, have elected that the provisions of this Section shall apply to such Lender, then, unless and until such Lender notifies the Company that the circumstances giving rise to such suspension or demand for compensation no longer exist: (a) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Currency Loans in such currency shall be made instead as Base Rate Loans (in the case of Committed 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 Fixed Rate Loans of the other Lenders); and (b) after each of its Euro-Currency Loans in such currency has been repaid (or converted to a Base Rate Loan), all payments of principal which would otherwise be applied to repay such Fixed Rate Loans shall be applied to repay its Base Rate Loans instead. If such Lender notifies the 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-Currency Loan denominated in the relevant currency, as the case may be, on the first day of the next succeeding Interest Period applicable to the related Euro-Currency Loans of the other Lenders. If such Loan is converted into an Committed Alternative Currency Loan, such Lender, the Administrative Agent and the relevant Borrower shall make such arrangements as shall be required (including increasing or decreasing the amount of such Committed Alternative Currency Loan) so that such Committed Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied thereto.
Appears in 2 contracts
Samples: Credit Agreement (Estee Lauder Companies Inc), Credit Agreement (Estee Lauder Companies Inc)
Base Rate Loans Substituted for Affected Fixed Rate Loans. If (i) the obligation of any Lender to make, or to convert or continue outstanding Loans to, Euro-Currency Loans in any currency has been suspended pursuant to Section 8.02 or (ii) any Lender has demanded compensation under Section 8.03 or 8.04 with respect to its Euro-Currency Loans in any currency and the Company shall, by at least five Euro-Dollar Business Days’ ' prior notice to such Lender through the Administrative Agent, have elected that the provisions of this Section shall apply to such Lender, then, unless and until such Lender notifies the Company that the circumstances giving rise to such suspension or demand for compensation no longer exist:
(a) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Currency Loans in such currency shall be made instead as Base Rate Loans (in the case of Committed 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 Fixed Rate Loans of the other Lenders); and
(b) after each of its Euro-Currency Loans in such currency has been repaid (or converted to a Base Rate Loan), all payments of principal which would otherwise be applied to repay such Fixed Rate Loans shall be applied to repay its Base Rate Loans instead. If such Lender notifies the 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-Currency Loan denominated in the relevant currency, as the case may be, on the first day of the next succeeding Interest Period applicable to the related Euro-Currency Loans of the other Lenders. If such Loan is converted into an Committed Alternative Currency Loan, such Lender, the Administrative Agent and the relevant Borrower shall make such arrangements as shall be required (including increasing or decreasing the amount of such Committed Alternative Currency Loan) so that such Committed Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied thereto.
Appears in 2 contracts
Samples: Credit Agreement (Estee Lauder Companies Inc), Credit Agreement (Estee Lauder Companies Inc)
Base Rate Loans Substituted for Affected Fixed Rate Loans. If (i) the obligation of any Lender Bank to make, or to continue or convert or continue outstanding Loans as or to, Euro-Currency Loans in any currency has been suspended pursuant to Section 8.02 or (ii) any Lender Bank has demanded compensation under Section 8.03 or 8.04 with respect to its Euro-Currency Loans Loans, and in any currency and such case the Company Borrower shall, by at least five Euro-Dollar Business Days’ ' prior notice to such Lender Bank through the Administrative Agent, have elected that the provisions of this Section shall apply to such LenderBank, then, unless and until such Lender Bank notifies the Company Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist:
(a) , all Loans which would otherwise be made by such Lender Bank as (or continued as or converted intoto) Euro-Currency Loans (in such currency the affected currency), shall instead be made instead as Base Rate Loans (in the case of Committed Alternative Currency Loans, in the same Dollar Amount as the Euro-Currency Loan that such Lender Bank would otherwise have made in the Alternative Currency Currency) (on which interest and principal shall be payable contemporaneously with the related Fixed Rate Euro-Currency Loans of the other LendersBanks); and
(b) after each of its Euro-Currency Loans in such currency has been repaid (or converted to a Base Rate Loan), all payments of principal which would otherwise be applied to repay such Fixed Rate Loans shall be applied to repay its Base Rate Loans instead. If such Lender Bank notifies the Company 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-Currency Loan denominated in the relevant currency, as the case may be, on the first day of the next succeeding Interest Period applicable to the related Euro-Currency Loans of the other LendersBanks. If such Loan is converted into an Committed Alternative Currency Loan, such LenderBank, the Administrative Agent and the relevant Borrower shall make such arrangements as shall be required (including increasing or decreasing the amount of such Committed Alternative Currency Loan) so that such Committed Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never been applied thereto.
Appears in 2 contracts
Samples: Credit Agreement (Blyth Inc), Credit Agreement (Blyth Industries Inc)
Base Rate Loans Substituted for Affected Fixed Rate Loans. If (i) the obligation of any Lender to make, or to convert or continue outstanding Loans to, Euro-Currency Dollar Loans in any currency has been suspended pursuant to Section 8.02 or (ii) any Lender has demanded compensation under Section 8.03 or 8.04 with respect to its CD Loans or Euro-Currency Dollar Loans in any currency and the Company Borrower shall, by at least five Euro-Dollar Business Days’ ' prior notice to such Lender through the Administrative Agent, have elected that the provisions of this Section shall apply to such Lender, then, unless and until such Lender notifies the Company Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist:
(a) all Loans which would otherwise be made by such Lender as (or continued as or converted into) CD Loans or Euro-Currency Loans in such currency Dollar Loans, as the case may be, shall instead be made instead as Base Rate Loans (in the case of Committed 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 Fixed Rate Loans of the other Lenders); and
(b) after each of its CD Loans or Euro-Currency Loans in such currency Dollar Loans, as the case may be, has been repaid (or converted to a Base Rate Loan), all payments of principal which would otherwise be applied to repay such Fixed Rate Loans shall be applied to repay its Base Rate Loans instead. If such Lender notifies the Company 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 CD Loan or Euro-Currency Loan denominated in the relevant currencyDollar Loan, as the case may be, on the first day of the next succeeding Interest Period applicable to the related CD Loans or Euro-Currency Dollar Loans of the other Lenders. If such Loan is converted into an Committed Alternative Currency Loan, such Lender, the Administrative Agent and the relevant Borrower shall make such arrangements as shall be required (including increasing or decreasing the amount of such Committed Alternative Currency Loan) so that such Committed Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied thereto.
Appears in 2 contracts
Samples: Credit Agreement (Mallinckrodt Inc /Mo), Credit Agreement (Mallinckrodt Inc /Mo)
Base Rate Loans Substituted for Affected Fixed Rate Loans. (a) If (i) the obligation of any Lender Bank to make, or to continue or convert or continue outstanding Loans toas or into, Euro-Currency Dollar Loans in any currency has been suspended pursuant to Section 8.02 or (ii) any Lender Bank has demanded compensation under Section 8.03 or 8.04 with respect to its Euro-Currency Dollar Loans in any currency and the Company Borrower shall, by at least five Euro-Dollar Business Days’ prior notice to such Lender Bank through the Administrative Agent, have elected that the provisions of this Section 8.05(a) shall apply to such LenderBank, then, unless and until such Lender Bank notifies the Company Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist:
(a) , all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Currency Dollar Loans in such currency shall be made instead as Base Rate Loans (in the case of Committed 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 Fixed Rate Loans of the other LendersBanks); and
(b) after each of its Euro-Currency Loans in such currency has been repaid (or converted to a Base Rate Loan), all payments of principal which would otherwise be applied to repay such Fixed Rate Loans shall be applied to repay its Base Rate Loans instead. If such Lender Bank notifies the Company Borrower that the circumstances giving rise to such notice no longer applyexist, the principal amount of each such Base Rate Loan shall be converted into a Euro-Currency Dollar Loan denominated in the relevant currency, as the case may be, on the first day of the next succeeding Interest Period applicable to the related Euro-Currency Dollar Loans of the other Lenders. Banks.
(b) If such Loan is converted into an Committed Alternative Currency Loan(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, such Lender, the Administrative Agent and the relevant Borrower shall make such arrangements as shall be required (including increasing or decreasing shall, by at least five Euro-Dollar Business Days’ prior notice to the amount of such Committed Alternative Currency Loan) so Banks through the Agent, have elected that such Committed Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied thereto8.05(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
Samples: Credit Agreement (CNF Inc)
Base Rate Loans Substituted for Affected Fixed Rate Loans. (a) If (i) the obligation of any Lender Bank to make, or to continue or convert or continue outstanding Loans toas or into, Euro-Currency Dollar Loans in any currency has been suspended pursuant to Section 8.02 or (ii) any Lender Bank has demanded compensation under Section 8.03 or 8.04 with respect to its CD Loans or Euro-Currency Dollar Loans in any currency and the Company Borrower shall, by at least five Euro-Dollar Business Days’ 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 Company Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist:
(a) , all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) CD Loans or Euro-Currency Loans in such currency Dollar Loans, as the case may be, shall be made instead as Base Rate Loans (in the case of Committed 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 Fixed Rate Loans of the other LendersBanks); and
(b) after each of its Euro-Currency Loans in such currency has been repaid (or converted to a Base Rate Loan), all payments of principal which would otherwise be applied to repay such Fixed Rate Loans shall be applied to repay its Base Rate Loans instead. If such Lender Bank notifies the Company Borrower that the circumstances giving rise to such notice no longer applyexist, the principal amount of each such Base Rate Loan shall be converted into a CD Loan or Euro-Currency Loan denominated in the relevant currencyDollar Loan, as the case may be, on the first day of the next succeeding Interest Period applicable to the related CD Loans or Euro-Currency Dollar Loans of the other Lenders. Banks.
(b) If such Loan is converted into an Committed Alternative Currency Loan(i) any Bank has demanded compensation under Section 8.03 with respect to its CD Loans or 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, such Lender, the Administrative Agent and the relevant Borrower shall make such arrangements as shall be required (including increasing or decreasing shall, by at least five Euro-Dollar Business Days= prior notice to the amount of such Committed Alternative Currency Loan) so Banks through the Agent, have elected that such Committed Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied thereto8.05(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 or CD Loan, as the case may be, of each Bank, together with accrued interest thereon.
Appears in 1 contract
Base Rate Loans Substituted for Affected Fixed Rate Loans. (a) If (i) the obligation of any Lender Bank to make, or to continue or convert or continue outstanding Loans toas or into, Euro-Currency Dollar Loans in any currency or Money Market LIBOR Loans has been suspended pursuant to Section 8.02 or (ii) any Lender Bank has demanded compensation under Section 8.03 or 8.04 with respect to its Euro-Currency Dollar Loans in any currency or Money Market LIBOR Loans and the Company Borrower shall, by at least five Euro-Dollar Business Days’ prior notice to such Lender Bank through the Administrative Agent, have elected that the provisions of this Section 8.05(a) shall apply to such LenderBank, then, unless and until such Lender Bank notifies the Company Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist:
(a) , all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Currency Dollar Loans in such currency or Money Market LIBOR Loans shall be made or continued instead as Base Rate Loans (in the case of Committed 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 Fixed Rate Euro-Dollar Loans or Money Market LIBOR Loans, as the case may be, of the other LendersBanks); and
(b) after each of its Euro-Currency Loans in such currency has been repaid (or converted to a Base Rate Loan), all payments of principal which would otherwise be applied to repay such Fixed Rate Loans shall be applied to repay its Base Rate Loans instead. If such Lender Bank notifies the Company 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-Currency Dollar Loan denominated in the relevant currency, as the case may be, on the first day of the next succeeding Interest Period applicable to the related Euro-Currency Dollar Loans of the other Lenders. Banks.
(b) If such Loan is converted into an Committed Alternative Currency Loan(i) any Bank has demanded compensation under Section 8.03 with respect to its Euro-Dollar Loans or Money Market LIBOR 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, such Lender, the Administrative Agent and the relevant Borrower shall make such arrangements as shall be required (including increasing or decreasing shall, by at least five Euro-Dollar Business Days’ prior notice to the amount of such Committed Alternative Currency Loan) so Banks through the Agent, have elected that such Committed Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied thereto8.05(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 and Money Market LIBOR Loan of each Bank, together with accrued interest thereon.
Appears in 1 contract
Samples: Credit Agreement (CNF Inc)
Base Rate Loans Substituted for Affected Fixed Rate Loans. If (i) the obligation of any Lender to make, or to convert or continue outstanding Loans to, Euro-Currency Loans in any currency has been suspended pursuant to Section 8.02 or (ii) any Lender has demanded compensation under Section 8.03 8.03, 8.04 or 8.04 8.05 with respect to its Euro-Currency Loans in any currency and the Company Borrower shall, by at least five Euro-Dollar Business Days’ prior notice to such Lender through the Administrative Agent, have elected that the provisions of this Section shall apply to such Lender, then, unless and until such Lender notifies the Company Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist:
(a) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Currency Loans (in such currency the affected currency) shall instead be made instead as Base Rate Loans (in the case of Committed Alternative Currency Loans, in the same Dollar Amount as the Euro-Currency Loan that such Lender would otherwise have made in the Alternative Currency (Currency) on which interest and principal shall be payable contemporaneously with the related Fixed Rate Loans of the other Lenders); and
(b) after each of its Euro-Currency Loans (in such currency the affected currency) has been repaid (or converted to a Base Rate Loan), all payments of principal which would otherwise be applied to repay such Fixed Rate Loans shall be applied to repay its Base Rate Loans instead. If such Lender notifies the Company 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-Currency Loan denominated in the relevant currency, as the case may be, on the first day of the next succeeding Interest Period applicable to the related Euro-Currency Loans of the other Lenders. If such Loan is converted into an Committed Alternative Currency Loan, such Lender, the Administrative Agent and the relevant Borrower shall make such arrangements as shall be required (including increasing or decreasing the amount of such Committed Alternative Currency Loan) so that such Committed Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied thereto.
Appears in 1 contract
Base Rate Loans Substituted for Affected Fixed Rate Loans. If (i) the obligation of any Lender Bank to make, make or to convert or continue outstanding Loans to, maintain Euro-Currency Dollar Loans in any currency has been suspended pursuant to Section 8.02 or (ii) any Lender Bank has demanded compensation under Section 8.03 or 8.04 8.03(a) with respect to its CD Loans or Euro-Currency Dollar Loans in any currency or its obligation to make CD Loans or Euro-Dollar Loans and the Company Borrower shall, by at least five Euro-Dollar Business Days’ ' prior notice to such Lender Bank through the Administrative Agent, have elected that the provisions of this Section shall apply to such LenderBank, then, unless and until such Lender Bank notifies the Company Borrower that the circumstances giving rise to such suspension or demand for compensation no longer existapply:
(a) all Loans which would otherwise be made by such Lender Bank as (or continued as or converted intoto) CD Loans or Euro-Currency Loans Dollar Loans, as the case may be, shall instead be made as (or continued as or, effective (i) on the last day of the then current Interest Period applicable thereto unless clause (b) of the last sentence of Section 8.02 shall apply or (ii) immediately upon the giving of notice referred to in such currency sentence if such clause (b) shall be made instead as apply, converted to) Base Rate Loans (in the case of Committed 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 Fixed Rate Loans of the other LendersBanks); , and
(b) after each of its CD Loans or Euro-Currency Loans in such currency Dollar Loans, as the case may be, has been repaid (or converted to a Base Rate Loan), all payments of principal which would otherwise be applied to repay such Fixed Rate Loans shall be applied to repay its Base Rate Loans instead. If such Lender Bank notifies the Company 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 CD Loan or a Euro-Currency Loan denominated in the relevant currencyDollar Loan, as the case may be, on the first day of the next succeeding Interest Period applicable to the related CD Loans or Euro-Currency Dollar Loans of the other Lenders. If such Loan is converted into an Committed Alternative Currency Loan, such Lender, the Administrative Agent and the relevant Borrower shall make such arrangements as shall be required (including increasing or decreasing the amount of such Committed Alternative Currency Loan) so that such Committed Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied theretoBanks.
Appears in 1 contract
Base Rate Loans Substituted for Affected Fixed Rate Loans. If (i) the obligation of any Lender Bank to make, make or to convert or continue outstanding Loans to, maintain Euro-Currency Loans in any currency has been suspended pursuant to Section 8.02 or (ii) any Lender Bank has demanded compensation under Section 8.03 or 8.04 8.05 with respect to its Euro-Currency Loans in any currency and the Company relevant Borrower shall, by at least five Euro-Dollar Currency Business Days’ prior notice to such Lender Bank through the Administrative Agent, have elected that the provisions of this Section shall apply to such LenderBank, then, unless and until such Lender Bank notifies the Company relevant Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist:
(a) all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Currency Loans in such currency shall instead be made instead as Base Rate Loans (in the case of Committed Alternative Currency Loans, in the same Dollar Amount as the Euro-Currency Loan that such Lender Bank would otherwise have made in the Alternative Currency (Currency) on which interest and principal shall be payable contemporaneously with the related Fixed Rate Loans of the other LendersBanks); , and
(b) after each of its Euro-Currency Loans in such currency has been repaid (or converted to a Base Rate Loan), all payments of principal which would otherwise be applied to repay such Fixed Rate Loans shall be applied to repay its Base Rate Loans instead. If such Lender Bank notifies the Company relevant 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-Currency Dollar Loan denominated in the relevant currency, as the case may be, on the first day of the next succeeding Interest Period applicable to the related Euro-Currency Loans of the other LendersBanks. If such Loan is converted into an Committed Alternative Currency Loan, such LenderBank, the Administrative Agent and the relevant Borrower shall make such arrangements as shall be required (including increasing or decreasing the amount of such Committed Alternative Currency Loan) so that such Committed Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied thereto.
Appears in 1 contract
Samples: Credit Agreement (Heinz H J Co)
Base Rate Loans Substituted for Affected Fixed Rate Loans. If (i) the obligation of any Lender to make, or to continue or convert or continue outstanding Loans as or to, Euro-Currency Loans in any currency has been suspended pursuant to Section 8.02 or (ii) any Lender has demanded compensation under Section 8.03 or Section 8.04 with respect to its Euro-Currency Loans Loans, and in any currency and such case the Company Borrower shall, by at least five Euro-Dollar Business Days’ prior notice to such Lender through the Administrative Agent, have elected that the provisions of this Section shall apply to such Lender, then, unless and until such Lender notifies the Company Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist:
(a) , all Loans which would otherwise be made by such Lender as (or continued as or converted intoto) Euro-Currency Loans (in such currency the affected currency), shall instead be made instead as Base Rate Loans (in the case of Committed Alternative Currency Loans, in the same Dollar Amount as the Euro-Currency Loan that such Lender would otherwise have made in the Alternative Currency Currency) (on which interest and principal shall be payable contemporaneously with the related Fixed Rate Euro-Currency Loans of the other Lenders); and
(b) after each of its Euro-Currency Loans in such currency has been repaid (or converted to a Base Rate Loan), all payments of principal which would otherwise be applied to repay such Fixed Rate Loans shall be applied to repay its Base Rate Loans instead. If such Lender notifies the Company 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-Currency Loan denominated in the relevant currency, as the case may be, on the first day of the next succeeding Interest Period applicable to the related Euro-Currency Loans of the other Lenders. If such Loan is converted into an Committed Alternative Currency Loan, such Lender, the Administrative Agent and the relevant Borrower shall make such arrangements as shall be required (including increasing or decreasing the amount of such Committed Alternative Currency Loan) so that such Committed Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never been applied thereto.
Appears in 1 contract
Samples: Credit Agreement (Blyth Inc)
Base Rate Loans Substituted for Affected Fixed Rate Loans. If (i) the obligation of any Lender Bank to make, make or to convert or continue outstanding Loans to, maintain Euro-Currency Loans in any currency has been suspended pursuant to Section 8.02 or (ii) any Lender Bank has demanded compensation under Section 8.03 or 8.04 with respect to its Euro-Currency Loans in any currency and the Company relevant Borrower shall, by at least five Euro-Dollar Currency Business Days’ ' prior notice to such Lender Bank through the Administrative Agent, have elected that the provisions of this Section shall apply to such LenderBank, then, unless and until such Lender Bank notifies the Company relevant Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist:
(a) all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Currency Loans in such currency shall instead be made instead as Base Rate Loans (in the case of Committed Alternative Currency Loans, in the same Dollar Amount as the Euro-Currency Loan that such Lender Bank would otherwise have made in the Alternative Currency (Currency) on which interest and principal shall be payable contemporaneously with the related Fixed Rate Loans of the other LendersBanks); , and
(b) after each of its Euro-Currency Loans in such currency has been repaid (or converted to a Base Rate Loan), all payments of principal which would otherwise be applied to repay such Fixed Rate Loans shall be applied to repay its Base Rate Loans instead. If such Lender Bank notifies the Company relevant 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-Currency Dollar Loan denominated in the relevant currency, as the case may be, on the first day of the next succeeding Interest Period applicable to the related Euro-Currency Loans of the other LendersBanks. If such Loan is converted into an Committed Alternative Currency Loan, such LenderBank, the Administrative Agent and the relevant Borrower shall make such arrangements as shall be required (including increasing or decreasing the amount of such Committed Alternative Currency Loan) so that such Committed Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied thereto.
Appears in 1 contract
Samples: Credit Agreement (Heinz H J Co)
Base Rate Loans Substituted for Affected Fixed Rate Loans. If (i) the obligation of any Lender Bank to make, or to continue or convert or continue outstanding Loans as or to, Euro-Currency Loans in any currency has been suspended pursuant to Section 8.02 or (ii) any Lender Bank has demanded compensation under Section 8.03 or 8.04 with respect to its Euro-Currency Loans in any currency and the Company Borrower shall, by at least five Euro-Dollar Business Days’ ' prior notice to such Lender Bank through the Administrative Agent, have elected that the provisions of this Section shall apply to such LenderBank, then, unless and until such Lender Bank notifies the Company Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist (which such Bank agrees to do promptly upon such circumstances ceasing to exist:
(a) ), all Loans which would otherwise be made by such Lender Bank as (or continued as or converted intoto) Euro-Currency Loans in such currency shall instead be made instead as Base Rate Loans (in the case of Committed Alternative Currency Loans, in the same Dollar Amount as the Euro-Currency Loan that such Lender would otherwise have made in the Alternative Currency (Currency) on which interest and principal shall be payable contemporaneously with the related Fixed Rate Loans of the other Lenders); and
(b) after each of its Euro-Currency Loans in such currency has been repaid (or converted to a Base Rate Loan), all payments of principal which would otherwise be applied to repay such Fixed Rate Loans shall be applied to repay its Base Rate Loans insteadBanks. If such Lender Bank notifies the Company 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-Currency Loan denominated in the relevant currency, as the case may be, on the first day of the next succeeding Interest Period applicable to the related Euro-Currency Loans of the other LendersBanks. If such Loan is converted into an Committed Alternative Currency Loan, such LenderBank, the Administrative Agent and the relevant Borrower shall make such arrangements as shall be required (including increasing or decreasing the amount of such Committed Alternative Currency Loan) so that such Committed Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied thereto.
Appears in 1 contract
Samples: 364 Day Credit Agreement (Tyco International LTD /Ber/)
Base Rate Loans Substituted for Affected Fixed Rate Loans. If (i) the obligation of any Lender Bank to make, or to convert or continue outstanding Loans to, Euro-Currency Loans in any currency has been suspended pursuant to Section 8.02 or (ii) any Lender Bank has demanded compensation under Section 8.03 8.03, 8.04 or 8.04 8.05 with respect to its CD Loans or Euro-Currency Loans in any currency and the Company Borrower shall, by at least five Euro-Dollar Business Days’ ' prior notice to such Lender Bank through the Administrative Agent, have elected that the provisions of this Section shall apply to such LenderBank, then, unless and until such Lender Bank notifies the Company Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist:
(a) all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) CD Loans or Euro-Currency Loans (in such currency the affected currency), as the case may be, shall instead be made instead as Base Rate Loans (in the case of Committed Alternative Currency Loans, in the same Dollar Amount as the Euro-Currency Loan that such Lender would otherwise have made in the Alternative Currency (Currency) on which interest and principal shall be payable contemporaneously with the related Fixed Rate Loans of the other Lenders)Banks; and
(b) after each of its CD Loans or Euro-Currency Loans (in such currency the affected currency), as the case may be, has been repaid (or converted to a Base Rate Loan), all payments of principal which would otherwise be applied to repay such Fixed Rate Loans shall be applied to repay its Base Rate Loans instead. If such Lender Bank notifies the Company 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 CD Loan or Euro-Currency Loan denominated in the relevant currencyLoan, as the case may be, on the first day of the next succeeding Interest Period applicable to the related CD Loans or Euro-Currency Loans of the other LendersBanks. If such Loan is converted into an Committed Alternative Currency Loan, such LenderBank, the Administrative Agent and the relevant Borrower shall make such arrangements as shall be required (including increasing or decreasing the amount of such Committed Alternative Currency Loan) so that such Committed Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied thereto.
Appears in 1 contract
Base Rate Loans Substituted for Affected Fixed Rate Loans. (a) If (i) the obligation of any Lender Bank to make, or to continue or convert or continue outstanding Loans toas or into, Euro-Currency Dollar Loans in any currency has been suspended pursuant to Section 8.02 8.01 or (ii) any Lender Bank has demanded compensation under Section 8.02 or Section 8.03 or 8.04 with respect to its Euro-Currency Loans in any currency Dollar Loans, and the Company shallBorrower, by at least five Euro-Dollar Business Days’ ' prior notice to such Lender Bank through the Administrative Agent, have has elected that the provisions of this Section 8.05(a) shall apply to such LenderBank, then, unless and until such Lender Bank notifies the Company Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist:
(a) , subject to Borrower's indemnification obligations to any such Bank under Section 2.14, all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Currency Dollar Loans in such currency shall be made or continued instead as Base Rate Loans (in the case of Committed 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 Fixed Rate Euro-Dollar Loans of the other LendersBanks); and
(b) after each of its Euro-Currency Loans in such currency has been repaid (or converted to a Base Rate Loan), all payments of principal which would otherwise be applied to repay such Fixed Rate Loans shall be applied to repay its Base Rate Loans instead. If such Lender Bank notifies the Company 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-Currency Dollar Loan denominated in the relevant currency, as the case may be, on the first day of the next succeeding Interest Period applicable to the related Euro-Currency Dollar Loans of the other Lenders. Banks; provided that any such Bank shall be obligated to provide such notice when such circumstances no longer exist.
(b) If such Loan is converted into (i) any Bank becomes an Committed Alternative Currency Loanaffected Bank under Section 8.01 or has demanded compensation under Section 8.02 with respect to its Euro-Dollar Loans, such Lenderor (ii) the Borrower becomes obligated to pay any Taxes or other amounts to or for the account of any Bank pursuant to Section 8.03, the Administrative Agent and the relevant Borrower shall make such arrangements as shall be required (including increasing or decreasing Borrower, by at least five Business Days' prior notice to the amount of such Committed Alternative Currency Loan) so Banks through the Agent, has elected that such Committed Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied thereto8.05(b) shall apply to all of the Banks, then the Borrower shall, on the fifth 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 and amounts payable pursuant to Section 2.14 hereof.
Appears in 1 contract
Samples: Credit Agreement (Con-Way Inc.)
Base Rate Loans Substituted for Affected Fixed Rate Loans. If (i) the obligation of any Lender to make, or to convert or continue outstanding Loans to, Euro-Currency Loans in any currency has been suspended pursuant to Section 8.02 or (ii) any Lender has demanded compensation under Section 8.03 or 8.04 with respect to its Euro-Currency Loans in any currency and the Company shall, by at least five Euro-Dollar Business Days’ prior notice to such Lender through the Administrative Agent, have elected that the provisions of this Section shall apply to such Lender, then, unless and until such Lender notifies the Company that the circumstances giving rise to such suspension or demand for compensation no longer exist:
(a) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Currency Loans in such currency shall be made instead as Base Rate Loans (in the case of Committed 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 Fixed Rate Loans of the other Lenders); and
(b) after each of its Euro-Currency Loans in such currency has been repaid (or converted to a Base Rate Loan), all payments of principal which would otherwise be applied to repay such Fixed Rate Loans shall be applied to repay its Base Rate Loans instead. If such Lender notifies the 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-Currency Loan denominated in the relevant currency, as the case may be, on the first day of the next succeeding Interest Period applicable to the related Euro-Currency Loans of the other Lenders. If such Loan is converted into an Committed Alternative Currency Loan, such Lender, the Administrative Agent and the relevant Borrower shall make such arrangements as shall be required (including increasing or decreasing the amount of such Committed Alternative Currency Loan) so that such Committed Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied thereto.
Appears in 1 contract
Samples: 364 Day Credit Agreement (Estee Lauder Companies Inc)
Base Rate Loans Substituted for Affected Fixed Rate Loans. If (i) the obligation of any Lender Bank to make, or to continue or convert or continue outstanding Loans as or to, Euro-Currency Loans in to any currency Borrower has been suspended pursuant to Section 8.02 or (ii) any Lender Bank has demanded compensation under Section 8.03 8.03(b) or 8.04 with respect to its CD Loans or Euro-Currency Loans Loans, and in any currency and such case the Company relevant Borrower shall, by at least five Euro-Dollar Business Days’ ' prior notice to such Lender Bank through the Administrative Agent, have elected that the provisions of this Section shall apply to such LenderBank, then, unless and until such Lender Bank notifies the Company that the circumstances giving rise to such suspension or demand for compensation no longer exist:
(a) , all Loans to such Borrower which would otherwise be made by such Lender Bank as (or continued as or converted intoto) CD Loans or Euro-Currency Loans in such currency Loans, as the case may be, shall instead be made instead as Base Rate Loans (in the case of Committed Alternative Currency Loans, in the same Dollar Amount as the Euro-Currency Loan that such Lender Bank would otherwise have made in the Alternative Currency Currency) (on which interest and principal shall be payable contemporaneously with the related Fixed Rate CD Loans or Euro-Currency Loans of the other LendersBanks); and
(b) after each of its Euro-Currency Loans in such currency has been repaid (or converted to a Base Rate Loan), all payments of principal which would otherwise be applied to repay such Fixed Rate Loans shall be applied to repay its Base Rate Loans instead. If such Lender Bank notifies the Company relevant 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 CD Loan or Euro-Currency Loan denominated in the relevant currencyLoan, as the case may be, on the first day of the next succeeding Interest Period applicable to the related CD Loans or Euro-Currency Dollar Loans of the other LendersBanks. If such Loan is converted into an Committed Alternative Currency Loan, such LenderBank, the Administrative Agent and the relevant Borrower shall make such arrangements as shall be required (including increasing or decreasing the amount of such Committed Alternative Currency Loan) so that such Committed Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never been applied thereto.
Appears in 1 contract
Samples: Credit Agreement (Boise Cascade Office Products Corp)
Base Rate Loans Substituted for Affected Fixed Rate Loans. If (i) the obligation of any Lender to make, or to convert or continue outstanding Loans to, Euro-Currency Loans in any currency Dollars has been suspended pursuant to Section 8.02 or (ii) any Lender has demanded compensation under Section 8.03 or 8.04 with respect to its CD Loans or Euro-Currency Loans in any currency and the Company Borrower shall, by at least five Euro-Dollar Business Days’ ' prior notice to such Lender through the Administrative Agent, have elected that the provisions of this Section shall apply to such Lender, then, unless and until such Lender notifies the Company Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist:
(a) all Loans which would otherwise be made by such Lender as (or continued as or converted into) CD Loans or Euro-Currency Loans (in such currency the affected currency) shall instead be made instead as Base Rate Loans (in the case of Committed Alternative Currency Loans, in the same Dollar Amount as the Euro-Currency Loan that such Lender would otherwise have made in the Alternative Currency (Currency) on which interest and principal shall be payable contemporaneously with the related Fixed Rate Loans of the other Lenders); and
(b) after each of its CD Loans or Euro-Currency Loans (in such currency the affected currency) has been repaid (or converted to a Base Rate Loan), all payments of principal which would otherwise be applied to repay such Fixed Rate Loans shall be applied to repay its Base Rate Loans instead. If such Lender notifies the Company 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 CD Loan or Euro-Currency Loan denominated in the relevant currency, as the case may be, on the first day of the next succeeding Interest Period applicable to the related CD Loans or Euro-Currency Loans of the other Lenders. If such Loan is converted into an Committed Alternative Currency Loan, such Lender, the Administrative Agent and the relevant Borrower shall make such arrangements as shall be required (including increasing or decreasing the amount of such Committed Alternative Currency Loan) so that such Committed Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied thereto.
Appears in 1 contract
Samples: Credit Agreement (Praxair Inc)
Base Rate Loans Substituted for Affected Fixed Rate Loans. If (i) the obligation of any Lender Bank to make, or to continue or convert or continue outstanding Loans as or to, Euro-Currency Loans in any currency has been suspended pursuant to Section 8.02 or (ii) any Lender Bank has demanded compensation under Section 8.03 or 8.04 with respect to its Euro-Currency Loans in any currency and the Company Borrower shall, by at least five Euro-Dollar Business Days’ ' prior notice to such Lender Bank through the Administrative Agent, have elected that the provisions of this Section shall apply to such LenderBank, then, unless and until such Lender Bank notifies the Company Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist (which such Bank agrees to do promptly upon such circumstances ceasing to exist:
(a) ), all Loans which would otherwise be made by such Lender Bank as (or continued as or converted intoto) Euro-Currency Loans in such currency shall instead be made instead as Base Rate Loans (in the case of Committed Alternative Currency Loans, in the same Dollar Amount as the Euro-Currency Loan that such Lender would otherwise have made in the Alternative Currency (Currency) on which interest and principal shall be payable contemporaneously with the related Fixed Rate Loans of the other Lenders); and
(b) after each of its Euro-Currency Loans in such currency has been repaid (or converted to a Base Rate Loan), all payments of principal which would otherwise be applied to repay such Fixed Rate Loans shall be applied to repay its Base Rate Loans insteadBanks. If such Lender Bank notifies the Company 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-Euro- Currency Loan denominated in the relevant currency, as the case may be, on the first day of the next succeeding Interest Period applicable to the related Euro-Currency Loans of the other LendersBanks. If such Loan is converted into an Committed Alternative Currency Loan, such LenderBank, the Administrative Agent and the relevant Borrower shall make such arrangements as shall be required (including increasing or decreasing the amount of such Committed Alternative Currency Loan) so that such Committed Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied thereto.
Appears in 1 contract
Samples: 364 Day Credit Agreement (Tyco International LTD /Ber/)
Base Rate Loans Substituted for Affected Fixed Rate Loans. If (i) the obligation of any Lender to make, or to convert or continue outstanding Loans to, Euro-Currency Loans in any currency Dollars has been suspended pursuant to Section 8.02 or (ii) any Lender has demanded compensation under Section 8.03 or 8.04 with respect to its Euro-Currency Loans in any currency and the Company Borrower shall, by at least five Euro-Dollar Business Days’ prior notice to such Lender through the Administrative Agent, have elected that the provisions of this Section shall apply to such Lender, then, unless and until such Lender notifies the Company Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist:
(a) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Currency Loans (in such currency the affected currency) shall instead be made instead as Base Rate Loans (in the case of Committed Alternative Currency Loans, in the same Dollar Amount as the Euro-Currency Loan that such Lender would otherwise have made in the Alternative Currency (Currency) on which interest and principal shall be payable contemporaneously with the related Fixed Rate Loans of the other Lenders); and
(b) after each of its Euro-Currency Loans (in such currency the affected currency) has been repaid (or converted to a Base Rate Loan), all payments of principal which would otherwise be applied to repay such Fixed Rate Loans shall be applied to repay its Base Rate Loans instead. If such Lender notifies the Company 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-Currency Loan denominated in the relevant currency, as the case may be, on the first day of the next succeeding Interest Period applicable to the related Euro-Currency Loans of the other Lenders. If such Loan is converted into an Committed Alternative Currency Loan, such Lender, the Administrative Agent and the relevant Borrower shall make such arrangements as shall be required (including increasing or decreasing the amount of such Committed Alternative Currency Loan) so that such Committed Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied thereto.
Appears in 1 contract
Samples: Credit Agreement (Praxair Inc)
Base Rate Loans Substituted for Affected Fixed Rate Loans. If (i) the obligation of any Lender to make, or to convert or continue outstanding Loans to, Euro-Currency Loans in any currency Dollars has been suspended pursuant to Section 8.02 or (ii) any Lender has demanded compensation under Section 8.03 or 8.04 with respect to its CD Loans or Euro-Currency Loans in any currency and the Company Borrower shall, by at least five Euro-Dollar Business Days’ prior notice to such Lender through the Administrative Agent, have elected that the provisions of this Section shall apply to such Lender, then, unless and until such Lender notifies the Company Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist:
(a) all Loans which would otherwise be made by such Lender as (or continued as or converted into) CD Loans or Euro-Currency Loans (in such currency the affected currency) shall instead be made instead as Base Rate Loans (in the case of Committed Alternative Currency Loans, in the same Dollar Amount as the Euro-Currency Loan that such Lender would otherwise have made in the Alternative Currency (Currency) on which interest and principal shall be payable contemporaneously with the related Fixed Rate Loans of the other Lenders); and
(b) after each of its CD Loans or Euro-Currency Loans (in such currency the affected currency) has been repaid (or converted to a Base Rate Loan), all payments of principal which would otherwise be applied to repay such Fixed Rate Loans shall be applied to repay its Base Rate Loans instead. If such Lender notifies the Company 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 CD Loan or Euro-Currency Loan denominated in the relevant currency, as the case may be, on the first day of the next succeeding Interest Period applicable to the related CD Loans or Euro-Currency Loans of the other Lenders. If such Loan is converted into an Committed Alternative Currency Loan, such Lender, the Administrative Agent and the relevant Borrower shall make such arrangements as shall be required (including increasing or decreasing the amount of such Committed Alternative Currency Loan) so that such Committed Alternative Currency Loan shall be in the same amount as it would have been if the provisions of this Section had never applied thereto.
Appears in 1 contract
Samples: Credit Agreement (Praxair Inc)