Common use of Consolidation and division of Term Loans Clause in Contracts

Consolidation and division of Term Loans. (a) Subject to paragraph (b) below, if two or more Terms: (i) relate to Term Loans under a Term Loan Facility in the same currency; and (ii) end on the same date, those Term Loans for that Term Loan Facility will, unless the Company specifies to the contrary in the Selection Notice for the next Term, be consolidated into, and treated as, a single Term Loan for that Facility on the last day of the Term. (b) Subject to the other provisions of this Agreement, if the Company requests in a Selection Notice that a Term Loan under a Term Loan Facility be divided into two or more Term Loans, that Term Loan will, on the last day of its Term, be divided as specified in that Selection Notice.