Common use of CERTAIN CONVERSIONS PURSUANT TO SECTIONS 2 Clause in Contracts

CERTAIN CONVERSIONS PURSUANT TO SECTIONS 2. 18 AND 2.20. If the Loans of any Bank of a particular Type (Loans of such Type are hereinafter referred to as "AFFECTED LOANS" and such Type is hereinafter referred to as the "AFFECTED TYPE") are to be converted pursuant to Section 2.18 or 2.20 hereof, such Bank's Affected Loans shall be converted into Base Rate Loans, or LIBOR Loans of another Type, as the case may be (the "NEW TYPE LOANS"), on the last day(s) of the then current Interest Period(s) for the Affected Loans (or, in the case of a conversion required by subsection 2.18(b) or Section 2.20 hereof, on such earlier date as such Bank may specify to the Borrowers with a copy to the Agent) and, until such Bank gives notice as provided below that the circumstances specified in Section 2.18 or 2.20 hereof which gave rise to such conversion no longer exist: (a) to the extent that such Bank's Affected Loans have been so converted, all repayments of principal which would otherwise be applied to such Affected Loans shall be applied instead to its New Type Loans; (b) all Loans which would otherwise be made by such Bank as Loans of the Affected Type shall be made instead as New Type Loans and all Loans of such Bank which would otherwise be converted into Loans of the Affected Type shall be converted instead into (or shall remain as) New Type Loans.

Appears in 4 contracts

Samples: Loan Agreement (Health Care Reit Inc /De/), Loan Agreement (Health Care Reit Inc /De/), Loan Agreement (Health Care Reit Inc /De/)

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CERTAIN CONVERSIONS PURSUANT TO SECTIONS 2. 18 19 AND 2.202.21. If the Loans of any Bank of a particular Type (Loans of such Type are hereinafter referred to as "'AFFECTED LOANS" ' and such Type is hereinafter referred to as the "'AFFECTED TYPE"') are to be converted pursuant to Section 2.18 2.19 or 2.20 2.21 hereof, such Bank's Affected Loans shall be converted into Base Prime Rate Loans, or LIBOR Loans of another Type, as the case may be (the "'NEW TYPE LOANS"'), on the last day(s) of the then current Interest Period(s) for the Affected Loans (or, in the case of a conversion required by subsection 2.18(b2.19(b) or Section 2.20 2.21 hereof, on such earlier date as such Bank may specify to the Borrowers with a copy to the Agent) and, until such Bank gives notice as provided below that the circumstances specified in Section 2.18 2.19 or 2.20 2.21 hereof which gave rise to such conversion no longer exist: (a) to the extent that such Bank's Affected Loans have been so converted, all payments and repayments of principal which would otherwise be applied to such Affected Loans shall be applied instead to its New Type Loans; (b) all Loans which would otherwise be made by such Bank as Loans of the Affected Type shall be made instead as New Type Loans and all Loans of such Bank which would otherwise be converted into Loans of the Affected Type shall be converted instead into (or shall remain as) New Type Loans.

Appears in 1 contract

Samples: Loan Agreement (Omega Healthcare Investors Inc)

CERTAIN CONVERSIONS PURSUANT TO SECTIONS 2. 18 19 AND 2.202.21. If the Loans of any Bank of a particular Type (Loans of such Type are hereinafter referred to as "AFFECTED LOANS" and such Type is hereinafter referred to as the "AFFECTED TYPE") are to be converted pursuant to Section 2.18 2.19 or 2.20 2.21 hereof, such Bank's Affected Loans shall be converted into Base Prime Rate Loans, or LIBOR Loans of another Type, as the case may be (the "NEW TYPE LOANS"), on the last day(s) of the then current Interest Period(s) for the Affected Loans (or, in the case of a conversion required by subsection 2.18(b2.19(b) or Section 2.20 2.21 hereof, on such earlier date as such Bank may specify to the Borrowers with a copy to the Agent) and, until such Bank gives notice as provided below that the circumstances specified in Section 2.18 2.19 or 2.20 2.21 hereof which gave rise to such conversion no longer exist: (a) to the extent that such Bank's Affected Loans have been so converted, all payments and repayments of principal which would otherwise be applied to such Affected Loans shall be applied instead to its New Type Loans; (b) all Loans which would otherwise be made by such Bank as Loans of the Affected Type shall be made instead as New Type Loans and all Loans of such Bank which would otherwise be converted into Loans of the Affected Type shall be converted instead into (or shall remain as) New Type Loans.

Appears in 1 contract

Samples: Loan Agreement (Omega Healthcare Investors Inc)

CERTAIN CONVERSIONS PURSUANT TO SECTIONS 2. 18 AND 2.2020 and 2.22. If the Loans of any Bank Lender of a particular Type type (Loans of such Type type are hereinafter referred to as "AFFECTED LOANSAffected Loans" and such Type type is hereinafter referred to as the "AFFECTED TYPEAffected Type") are to be converted pursuant to Section 2.18 2.20 or 2.20 hereof2.22, such BankLender's Affected Loans shall be converted into Base Rate Loans, or LIBOR Loans of another Type, as the case may be (the "NEW TYPE LOANSNew Type Loans"), ) on the last day(s) of the then current Interest Period(s) for the Affected Loans (or, in the case of a conversion required by subsection 2.18(bSubsection 2.20(c) or Section 2.20 hereof, 2.22 on such earlier date as such Bank Lender may specify to the Borrowers Borrower with a copy to the Agent) and, until such Bank Lender gives notice as provided below that the circumstances specified in Section 2.18 2.20 or 2.20 hereof 2.22 which gave rise to such conversion no longer exist: (a) to the extent that such BankLender's Affected Loans have been so converted, all repayments payments and prepayments of principal which would otherwise be applied to such Affected Loans shall be applied instead to its New Type Loans; (b) all Loans which would otherwise be made by such Bank Lender as Loans of the Affected Type shall be made instead as New Type Loans and all Loans of such Bank Lender which would otherwise be converted into Loans of the Affected Type shall be converted instead into (or shall remain as) New Type Loans; and 58 -50- (c) if Loans of any of the Lenders other than such Lender which are the same type as the Affected Type are subsequently converted into Loans of another type (which type is other than New Type Loans), then such Lender's New Type Loans shall be automatically converted on the conversion date into Loans of such other type to the extent necessary so that, after giving effect thereto, all Loans held by such Lender and the Lenders whose Loans are so converted are held pro rata (as to principal amounts, types and, to the extent applicable, Interest Periods) in accordance with their respective Commitments.

Appears in 1 contract

Samples: Credit Agreement (Saga Communications Inc)

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CERTAIN CONVERSIONS PURSUANT TO SECTIONS 2. 18 22 AND 2.202.24. If the Loans of any Bank of a particular Type type (Loans of such Type type are hereinafter referred to as "AFFECTED LOANS" and such Type type is hereinafter referred to as the "AFFECTED TYPE") are to be converted pursuant to Section 2.18 2.22 or 2.20 2.24 hereof, such Bank's Affected Loans shall be converted into Base Rate Loans, or LIBOR Eurodollar Loans of another Typetype, as the case may be (the "NEW TYPE LOANS"), ) on the last day(s) of the then current Interest Period(s) for the Affected Loans (or, in the case of a conversion required by subsection 2.18(b2.22(b) or Section 2.20 2.24 hereof, on such earlier date as such Bank may specify to the Borrowers Borrower with a copy to the Agent) and, until such Bank gives notice as provided below that the circumstances specified in Section 2.18 2.22 or 2.20 2.24 hereof which that gave rise to such conversion no longer exist: (a) to the extent that such Bank's Affected Loans have been so converted, all repayments payments and prepayments of principal which that would otherwise be applied to such Affected Loans shall be applied instead to its New Type Loans; (b) all Loans which that would otherwise be made by such Bank as Loans of the Affected Type shall be made instead as New Type Loans and all Loans of such Bank which that would otherwise be converted into Loans of the Affected Type shall be converted instead into (or shall remain as) New Type Loans; and (c) if Loans of any of the Banks other than such Bank that are the same type as the Affected Type are subsequently converted into Loans of another type (which type is other than New Type Loans), then such Bank's New Type Loans shall be automatically converted on the conversion date into Loans of such other type to the extent necessary so that, after giving effect thereto, all Loans held by such Bank and the Banks whose Loans are so converted are held PRO RATA (as to principal amounts, types and, to the extent applicable, Interest Periods) in accordance with their respective Commitments.

Appears in 1 contract

Samples: Credit Agreement (Lodgenet Entertainment Corp)

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