Common use of Base Rate Loans Substituted for Affected Fixed Rate Loans Clause in Contracts

Base Rate Loans Substituted for Affected Fixed Rate Loans. If (i) the obligation of any Bank to make, or convert outstanding Loans to, Euro-Dollar Loans or Euro-Canadian Dollar Loans has been suspended pursuant to Section 8.2 or (ii) any Bank has demanded compensation under Section 8.3 or 8.4 with respect to its Euro-Dollar Loans or Euro-Canadian Dollar Loans and the Borrower shall, by at least five Business Days’ prior notice to such Bank through the Administrative Agent, have elected that the provisions of this Section shall apply to such Bank, then, unless and until such Bank notifies the 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 Bank as (or continued as or converted into) Euro-Dollar Loans or Euro-Canadian Dollar Loans, as applicable, shall instead be Base Rate Loans or Canadian Base Rate Loans, or applicable (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans or Euro-Canadian Dollar Loans, as applicable, of the other Banks); and (b) after each of its Euro-Dollar Loans or Euro-Canadian Dollar Loans, as applicable, has been repaid (or converted to a Base Rate Loan), all payments of principal which would otherwise be applied to repay such Euro-Dollar Loans or Euro-Canadian Dollar Loans, as applicable, shall be applied to repay its Base Rate Loans or Canadian Base Rate Loans, as applicable, instead. If such Bank notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan or Canadian Base Rate Loans, as applicable, shall be converted into Euro-Dollar Loans or Euro-Canadian Dollar Loans, as applicable, on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans or Euro-Canadian Dollar Loans, as applicable, of the other Banks.

Base Rate Loans Substituted for Affected Fixed Rate Loans. If (i) the obligation of any Bank to make, or convert outstanding Loans to, Euro-Dollar Loans or Euro-Canadian Dollar Loans has been suspended pursuant to Section 8.2 9.2 or (ii) any Bank has demanded compensation under Section 8.3 9.3 or 8.4 9.4 with respect to its Euro-Dollar Loans or Euro-Canadian Dollar Loans and the Borrower shall, by at least five Business Days’ ' prior notice to such Bank through the Administrative Agent, have elected that the provisions of this Section shall apply to such Bank, then, unless and until such Bank notifies the 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 Bank as (or continued as or converted into) Euro-Dollar Loans or Euro-Canadian Dollar Loans, as applicable, shall instead be Base Rate Loans or Canadian Base Rate Loans, or applicable (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans or Euro-Canadian Dollar Loans, as applicable, of the other Banks); and (b) after each of its Euro-Dollar Loans or Euro-Canadian Dollar Loans, as applicable, has been repaid (or converted to a Base Rate Loan), all payments of principal which would otherwise be applied to repay such Euro-Dollar Loans or Euro-Canadian Dollar Loans, as applicable, shall be applied to repay its Base Rate Loans or Canadian Base Rate Loans, as applicable, instead. If such Bank notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan or Canadian Base Rate Loans, as applicable, shall be converted into Euro-Dollar Loans or Euro-Canadian Dollar Loans, as applicable, on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans or Euro-Canadian Dollar Loans, as applicable, of the other Banks.

Base Rate Loans Substituted for Affected Fixed Rate Loans. If (i) the obligation of any Bank to make, or convert outstanding Loans to, Euro-Dollar Loans or Euro-Canadian Dollar Loans has been suspended pursuant to Section 8.2 9.2 or (ii) any Bank has demanded compensation under Section 8.3 9.3 or 8.4 9.4 with respect to its Euro-Dollar Loans or Euro-Canadian Dollar Loans and the a Borrower shall, by at least five Business Days’ prior notice to such Bank through the Administrative Agent, have elected that the provisions of this Section shall apply to such Bank, then, unless and until such Bank notifies the such 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 Bank as (or continued as or converted into) Euro-Dollar Loans or Euro-Canadian Dollar Loans, as applicable, Loans shall instead be Base Rate Loans or Canadian Base Rate Loans, or applicable as relevant (on which interest and principal shall be payable contemporaneously with the related Euro-Dollar Loans or Euro-Canadian Dollar Loans, as applicable, Loans of the other Banks); and (b) after each of its Euro-Dollar Loans or Euro-Canadian Dollar Loans, as applicable, Loans has been repaid (or converted to a Base Rate Loan or Canadian Base Rate Loan, as relevant), all payments of principal which would otherwise be applied to repay such Euro-Dollar Loans or Euro-Canadian Dollar Loans, as applicable, Loans shall be applied to repay its Base Rate Loans or Canadian Base Rate Loans, as applicablerelevant, instead. If such Bank notifies the a Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan or Canadian Base Rate Loans, as applicable, Loan shall be converted into a Euro-Dollar Loans Loan or Euro-Canadian Dollar LoansLoan, as applicablethe case may be, on the first day of the next succeeding Interest Period applicable to the related Euro-Dollar Loans or Euro-Canadian Dollar Loans, as applicablethe case may be, of the other Banks.