Common use of Consequences of Non-Availability Clause in Contracts

Consequences of Non-Availability. If the Paying Agent notifies the Borrower pursuant to Section 2.14(b) that the Committed Currency requested or elected by the Borrower to be continued is not available, such notification shall (i) in the case of any request for a Borrowing, revoke such request and (ii) in the case of any continuation or conversion, result in the Eurocurrency Rate Loans denominated in such Committed Currency being automatically converted into Eurocurrency Rate Loans denominated in Dollars for a one month Interest Period on the last day of the then current Interest Period with respect to such Eurocurrency Rate Loans denominated in such Committed Currency.

Consequences of Non-Availability. If the Paying Administrative Agent notifies the Borrower pursuant to Section 2.14(b2.15(b) that the Committed Foreign Currency requested or elected by the Borrower to be continued is not available, such notification shall (i) in the case of any request for a Borrowing, revoke such request and (ii) in the case of any continuation or conversion, result in the Eurocurrency Eurodollar Rate Loans denominated in such Committed Foreign Currency being automatically converted into Eurocurrency Eurodollar Rate Loans denominated in Dollars for a one month Interest Period on the last day of the then current Interest Period with respect to such Eurocurrency Eurodollar Rate Loans denominated in such Committed Foreign Currency.

Consequences of Non-Availability. If the Paying Agent notifies the Borrower Timken pursuant to Section 2.14(b) that the Committed Currency requested or elected by the Borrower Timken to be continued is not available, such notification shall (i) in the case of any request for a Borrowing, revoke such request and (ii) in the case of any continuation or conversion, result in the Eurocurrency Rate Loans denominated in such Committed Currency being automatically converted into Eurocurrency Rate Loans denominated in Dollars for a one month Interest Period on the last day of the then current Interest Period with respect to such Eurocurrency Rate Loans denominated in such Committed Currency.

Consequences of Non-Availability. If the Paying Administrative Agent notifies the Borrower pursuant to Section 2.14(b2.15(b) that the Committed Foreign Currency requested or elected by the Borrower to be continued is not available, such notification shall (i) in the case of any request for a Borrowing, revoke such request and (ii) in the case of any continuation or conversion, result in the Eurocurrency Rate Loans denominated in such Committed Foreign Currency being automatically converted into Eurocurrency Rate Loans denominated in Dollars for a one month Interest Period on the last day of the then current Interest Period with respect to such Eurocurrency Rate Loans denominated in such Committed Foreign Currency.