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

Base Rate Loans Substituted for Affected Fixed Rate. If (i) the obligation of any Bank to make, or convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03(a) or 8.04, or the Borrower is required to make any additional payments under Section 8.04 in respect of any payments to any Bank, in either case with respect to its Euro-Dollar Loans or its CD Loans, and the Borrower shall, by at least five Euro-Dollar 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 apply:

Appears in 2 contracts

Samples: Credit Agreement (Norfolk Southern Corp), Credit Agreement (Norfolk Southern Corp)

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Base Rate Loans Substituted for Affected Fixed Rate. If (i) the obligation of any Bank Lender to make, or convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 8.02 8.2 or (ii) any Bank Lender has demanded compensation under Section 8.03(a8.3(a) or 8.048.4, or the Borrower is required to make any additional payments under Section 8.04 8.4 in respect of any payments to any BankLender, in either case with respect to its Euro-Dollar Loans or its CD Loans, and the Borrower shall, by at least five Euro-Dollar Business Days' prior notice to such Bank Lender through the Administrative Agent, have elected that the provisions of this Section shall apply to such BankLender, then, unless and until such Bank Lender notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:

Appears in 2 contracts

Samples: Credit Agreement (Norfolk Southern Corp), Credit Agreement (Norfolk Southern Corp)

Base Rate Loans Substituted for Affected Fixed Rate. If (i) the obligation of any Bank Lender to make, or convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 8.02 8.2 or (ii) any Bank Lender has demanded compensation under Section 8.03(a8.3(a) or 8.048.4, or the Borrower is required to make any additional payments under Section 8.04 8.4 in respect of any payments to any BankLender, in either case with respect to its Euro-Dollar Loans or its CD Loans, and the Borrower shall, by at least five Euro-Dollar Business Days' ’ prior notice to such Bank Lender through the Administrative Agent, have elected that the provisions of this Section shall apply to such BankLender, then, unless and until such Bank Lender notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:

Appears in 1 contract

Samples: Credit Agreement (Norfolk Southern Corp)

Base Rate Loans Substituted for Affected Fixed Rate. If (i) the obligation of any Bank to make, or convert outstanding Loans to, make Euro-Dollar Loans to any Borrower, or to convert outstanding Loans to any Borrower into or to continue outstanding Loans to any Borrower as Euro-Dollar Loans, pursuant to this Agreement has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03(a) 8.03 or 8.04, or the Borrower is required to make any additional payments under Section 8.04 in respect of any payments to any Bank, in either case with respect to its Euro-Dollar Loans or its CD Loans, to any Borrower and the Borrower Company shall, by at least five Euro-Dollar Business Days' prior notice to such Bank through the Administrative Agent, have elected that the provisions of this Section 8.05 shall apply to such Bank, then, unless and until such Bank notifies the Borrower Company that the circumstances giving rise to such suspension or demand for compensation no longer applyexist:

Appears in 1 contract

Samples: Credit Agreement (Timberland Co)

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Base Rate Loans Substituted for Affected Fixed Rate. If (i) the obligation of any Bank to make, or convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 8.02 8.2 or (ii) any Bank has demanded compensation under Section 8.03(a8.3(a) or 8.048.4, or the Borrower is required to make any additional payments under Section 8.04 8.4 in respect of any payments to any Bank, in either case with respect to its Euro-Dollar Loans or its CD Loans, and the Borrower shall, by at least five Euro-Dollar 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 apply:

Appears in 1 contract

Samples: Credit Agreement (Norfolk Southern Corp)

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