Continuation of Eurodollar Rate Loans Sample Clauses

Continuation of Eurodollar Rate Loans. Unless otherwise requested in accordance with Section 2.6, each Eurodollar Rate Loan shall automatically be continued as a Eurodollar Rate Loan for an equivalent Interest Period upon the expiration of an Interest Period with respect thereto.
Sample 1Sample 2
AutoNDA by SimpleDocs
Continuation of Eurodollar Rate Loans. The Borrower may elect from time to time to have any Term Loan that is a Eurodollar Rate Loan continued as such upon the expiration of the Interest Period (except a Stub Interest Period) applicable thereto and on the 10th day of a month in any Stub Interest Period by giving the Administrative Agent irrevocable written notice of such election no later than 9:00 a.m. (Pacific Time) on the third Business Day preceding, and effective as of the last day of the applicable Interest Period; provided, however, so long as any Event of Default or Potential Default has occurred and is continuing (i) no Eurodollar Rate Loan may be continued as such and, (ii) unless the Lenders elect to cause such conversion earlier, automatically on the last day of the applicable Interest Period, any outstanding Loan bearing interest as a Eurodollar Rate Loan shall be converted to a Base Rate Loan. If the Borrower shall fail to give notice of its election to continue a Term Loan that is a Eurodollar Rate Loan as such as provided above, the Borrower shall be deemed to have elected on the last day of the applicable Interest Period to have continued such Eurodollar Rate Loan as a Eurodollar Rate Loan with an Interest Period of one month ending on the 10th day of the succeeding month. No Swing Line Loan may be continued as a Eurodollar Rate Loan.
Sample 1
Continuation of Eurodollar Rate Loans. Unless otherwise requested in accordance with §2.5.1, each Eurodollar Rate Loan shall automatically be continued as a Eurodollar Rate Loan for an equivalent Interest Period upon the expiration of an Interest Period with respect thereto, unless an Event of Default exists at the end of such Interest Period, in which case such Eurodollar Rate Loan shall automatically be converted into a Base Rate Loan. No portion of the outstanding principal of any Loans shall be converted into Eurodollar Rate Loans and no Eurodollar Rate Loan shall be continued into a subsequent Interest Period at any time that an Event of Default exists.
Sample 1
Continuation of Eurodollar Rate Loans. The Borrowers may continue any Eurodollar Rate Loan upon the expiration of an Interest Period with respect thereto by delivering an Advance/Continuation Request to the Lender at least three (3) Business Days prior to the proposed date of extension. If the continuation of Eurodollar Rate Loans is not permitted hereunder, each such Eurodollar Rate Loan shall be automatically converted to an ABR Loan at the end of the applicable Interest Period with respect thereto. If the Borrowers request a continuation of a Eurodollar Rate Loan in any such Advance/Continuation Request, but fail to specify an Interest Period, they will be deemed to have specified an Interest Period of one month. If the Borrowers fail to request a continuation of any Eurodollar Rate Loan prior to the expiration of the Interest Period with respect thereto, such Eurodollar Rate Loan shall be deemed to have an Interest Period of one month thereafter, effective as of the last day of the Interest Period then in effect. A Eurodollar Rate Loan may be continued only on the last day of an Interest Period for such Eurodollar Rate Loan. KEYW and Subsidiaries Credit and Security Agreement There shall not be more than five (5) Interest Periods in effect at any one time with respect to all Eurodollar Rate Loans.
Sample 1

Related to Continuation of Eurodollar Rate Loans

  • Booking of Eurodollar Rate Loans Any Lender may make, carry or transfer Eurodollar Rate Loans at, to, or for the account of any of its branch offices or the office of an Affiliate of such Lender.

  • Eurodollar Rate Loans Any conversion to or from Eurodollar Rate Loans shall be in such amounts and be made pursuant to such elections so that, after giving effect thereto, the aggregate principal amount of all Eurodollar Rate Loans having the same Interest Period shall not be less than $1,000,000 or a whole multiple of $500,000 in excess thereof.

  • Eurodollar Rate Loans After Default After the occurrence of and during the continuation of a Potential Event of Default or an Event of Default, (i) Company may not elect to have a Loan be made or maintained as, or converted to, a Eurodollar Rate Loan after the expiration of any Interest Period then in effect for that Loan and (ii) subject to the provisions of subsection 2.6D, any Notice of Borrowing or Notice of Conversion/Continuation given by Company with respect to a requested borrowing or conversion/continuation that has not yet occurred shall be deemed to be rescinded by Company.

  • Eurocurrency Rate Loans Except as otherwise provided herein, a Eurocurrency Rate Loan may be continued or converted only on the last day of an Interest Period for such Eurocurrency Rate Loan. During the existence of a Default, no Loans may be requested as, converted to or continued as Eurocurrency Rate Loans without the consent of the Required Lenders, and the Required Lenders may demand that any or all of the outstanding Eurocurrency Rate Loans denominated in Dollars be converted immediately to Base Rate Loans and any or all of the then outstanding Eurocurrency Rate Loans denominated in an Alternative Currency be prepaid, or redenominated into Dollars in the amount of the Dollar Equivalent thereof, on the last day of the then current Interest Period with respect thereto.

  • LIBOR Rate Loans During such periods as Revolving Loans shall be comprised of LIBOR Rate Loans, each such LIBOR Rate Loan shall bear interest at a per annum rate equal to the sum of the LIBOR Rate plus the Applicable Percentage. Interest on Revolving Loans shall be payable in arrears on each Interest Payment Date.

  • Making or Maintaining Eurodollar Rate Loans (a) In the event that Administrative Agent shall have reasonably determined (which determination shall be final and conclusive and binding upon all parties hereto), on any Interest Rate Determination Date with respect to any Eurodollar Rate Loans, that by reason of circumstances affecting the London interbank market adequate and fair means do not exist for ascertaining the interest rate applicable to such Loans on the basis provided for in the definition of Adjusted Eurodollar Rate, Administrative Agent shall on such date give notice (by telefacsimile or by telephone confirmed in writing) to Company and each Lender of such determination, whereupon (i) no Loans may be made as, or converted to, Eurodollar Rate Loans until such time as Administrative Agent notifies Company and Lenders that the circumstances giving rise to such notice no longer exist, which notice shall be given as soon as reasonably practicable and (ii) any Funding Notice or Conversion/Continuation Notice given by Company with respect to the Loans in respect of which such determination was made shall be deemed to be rescinded by Company without the necessity of paying any amount under Section 2.18(c), and any Funding Notice previously delivered by Company which requested Eurodollar Rate Loans may be revoked by Company or, failing that, shall be deemed to be converted into a request(s) for borrowing of Base Rate Loans.

  • Application of Prepayments of Loans to Base Rate Loans and Eurodollar Rate Loans Considering each Class of Loans being prepaid separately, any prepayment thereof shall be applied first to Base Rate Loans to the full extent thereof before application to Eurodollar Rate Loans, in each case in a manner which minimizes the amount of any payments required to be made by Borrower pursuant to Section 2.18(c).

  • Eurocurrency Rate Advances During such periods as such Advance is a Eurocurrency Rate Advance, a rate per annum equal at all times during each Interest Period for such Advance to the sum of (x) the Eurocurrency Rate for such Interest Period for such Advance plus (y) the Applicable Margin in effect from time to time, payable in arrears on the last day of such Interest Period and, if such Interest Period has a duration of more than three months, on each day that occurs during such Interest Period every three months from the first day of such Interest Period and on the date such Eurocurrency Rate Advance shall be Converted or paid in full.

  • Eurodollar Rate Advances During such periods as such Advance is a Eurodollar Rate Advance, a rate per annum equal at all times during each Interest Period for such Advance to the sum of (x) the Eurodollar Rate for such Interest Period for such Advance plus (y) the Applicable Margin in effect from time to time, payable in arrears on the last day of such Interest Period and, if such Interest Period has a duration of more than three months, on each day that occurs during such Interest Period every three months from the first day of such Interest Period and on the date such Eurodollar Rate Advance shall be Converted or paid in full.

  • Reserves on Eurodollar Rate Loans The Borrower shall pay to each Lender, as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurodollar Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10 days from receipt of such notice.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!