Base Rate Loans Substituted for Affected LIBOR Loans. If (a) the obligation of any Bank to make LIBOR Loans has been suspended pursuant to Section 8.03 or (b) any Bank has demanded compensation under Section 8.01(a) with respect to LIBOR Loans and the Borrower shall, by at least two LIBOR Business Days’ prior notice to such Bank through the 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:
(a) all Loans which would otherwise be made by such Bank as LIBOR Loans shall be made instead as Base Rate Loans, and
(b) after each of its LIBOR Loans has been repaid, all payments of principal which would otherwise be applied to repay such LIBOR Loans shall be applied to repay its Base Rate Loans instead.
Base Rate Loans Substituted for Affected LIBOR Loans. If notice has been given by Lender pursuant to Sections 2.11 or 2.12 requiring LIBOR Loans to be repaid or converted to Base Rate Loans, then, unless and until Lender notifies Borrower that the circumstances giving rise to such repayment or conversion no longer apply, any portion of the Loans that would otherwise be made by Lender to Borrower as LIBOR Loans shall be made instead as Base Rate Loans. Lender shall promptly notify Borrower if and when the circumstances giving rise to such repayment no longer apply.
Base Rate Loans Substituted for Affected LIBOR Loans. If notice has been given by a Bank pursuant to Sections 2.11 or 2.12 or by Borrower pursuant to Section 2.13 requiring LIBOR Loans of any Bank to be repaid, then, unless and until such Bank notifies the Administrative Agent and Borrower that the circumstances giving rise to such repayment no longer apply, all Loans which would otherwise be made by such Bank to Borrower as LIBOR Loans shall be made instead as Base Rate Loans. Such Bank shall promptly notify the Administrative Agent and Borrower if and when the circumstances giving rise to such repayment no longer apply.
Base Rate Loans Substituted for Affected LIBOR Loans. If (i) the obligation of any Bank to make LIBOR Loans to the Borrower has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation from the Borrower under Section 8.03 or 8.04 with respect to its LIBOR Loans and the Borrower shall, by at least five LIBOR Business Days' prior notice to such Bank through the 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:
(a) all Loans which would otherwise be made by such Bank as LIBOR Loans shall be made instead as Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related LIBOR Loans of the other Banks), and
(b) after each of its LIBOR Loans has been repaid, all payments of principal which would otherwise be applied to repay such LIBOR Loans shall be applied to repay its Base Rate Loans instead.
Base Rate Loans Substituted for Affected LIBOR Loans. If (i) the obligation of any Bank to make LIBOR 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 LIBOR Loans and the Borrower shall, by at least five LIBOR 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) Borrower shall be deemed to have delivered a Notice of Interest Rate Election with respect to such affected LIBOR Loans and thereafter all Loans which would otherwise be made by such Bank as LIBOR Loans shall be made instead as Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related LIBOR Loans of the other Banks), and
(b) after each of its LIBOR Loans has been repaid, all payments of principal which would otherwise be applied to repay such LIBOR Loans shall be applied to repay its Base Rate Loans instead, and
(c) Borrower will not be required to make any payment which would otherwise be required by Section 2.12 with respect to such LIBOR Loans converted to Base Rate Loans pursuant to clause (a) above.
Base Rate Loans Substituted for Affected LIBOR Loans. If notice has been given by a Bank pursuant to Section 6.7 or 6.8 or by Borrower pursuant to Section 6.9(b) requiring LIBOR Loans of any Bank to be repaid, then, unless and until such Bank notifies Borrower that the circumstances giving rise to such repayment no longer apply, all Loans which
Base Rate Loans Substituted for Affected LIBOR Loans. Upon the occurrence of any event or condition set forth in Section 8.01, each Loan then outstanding which bears interest at LIBOR shall be converted immediately to a Base Rate Loan and all new Loans shall be Base Rate Loans. If the Bank notifies the Borrower that the circumstances giving rise to such change in interest rate no longer apply, the principal amount of each such Base Rate Loan shall cease immediately to constitute a Base Rate Loan and shall thereafter bear interest in accordance with Section 2.05.
Base Rate Loans Substituted for Affected LIBOR Loans. If notice has been given by any Lender pursuant to Section 3.7 or 3.8 or by the Borrower pursuant to Section 3.9 requiring LIBOR Loans to be repaid or converted, then, unless and until such Lender notifies the Borrower that the circumstances giving rise to such repayment or conversion no longer apply, all Loans which would otherwise be made by such Lender to the Borrower as LIBOR Loans shall be made instead as Base Rate Loans. Any such Lender shall notify the Borrower if and when the circumstances giving rise to such repayment no longer apply. All indemnities and all provisions relating to reimbursement to any Lender of amounts sufficient to protect the yield to such Lender with respect to the Loans, including, without limitation, Sections 3.6, 3.7, 3.8, and 3.9 hereof, shall survive the payment of the Notes and the termination of this Agreement.
Base Rate Loans Substituted for Affected LIBOR Loans. If (i) the obligation of any Lender to make LIBOR Loans has been suspended pursuant to Section 8.02 or (ii) any Lender has demanded compensation under Section 8.03(a), then, unless and until such Lender notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply:
(a) all Revolving Credit Loans which would otherwise be made by such Lender as LIBOR Loans shall be made instead as Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related LIBOR Loans of the other Lenders), and
(b) after each of its LIBOR Loans has been repaid, all payments of principal which would otherwise be applied to repay such LIBOR Loans shall be applied to repay its Base Rate Loans instead.
Base Rate Loans Substituted for Affected LIBOR Loans. If notice has been given by a Lender pursuant to Sections 2.15 or 2.16 or by the Company and/or XxXxxxx Electronics pursuant to Section 2.17 requiring LIBOR Loans of any Lender to be repaid, then, unless and until such Lender notifies the Company and XxXxxxx Electronics that the circumstances giving rise to such repayment no longer apply, all Loans which would otherwise be made by such Lender to the Company and/or XxXxxxx Electronics as LIBOR Loans shall be made instead as Base Rate Loans. Such Lender shall promptly notify the Company and XxXxxxx Electronics if and when the circumstances giving rise to such repayment no longer apply.
