Common use of Continuation of Type of Revolving Credit Loan Clause in Contracts

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan of any Type may be continued as a Revolving Credit Loan of the same Type upon the expiration of an Interest Period with respect thereto by compliance by the Borrower with the notice provisions contained in §2.7.1; provided that no Eurodollar Rate Loan may be continued as such when any Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Event of Default of which officers of the Administrative Agent active upon the Borrower’s account have actual knowledge. In the event that the Borrower fails to provide any such notice with respect to the continuation of any Eurodollar Rate Loan as such, then such Eurodollar Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the Interest Period relating thereto. The Administrative Agent shall notify the Revolving Credit Lenders promptly when any such automatic conversion contemplated by this §2.7.2 is scheduled to occur.

Appears in 5 contracts

Samples: Revolving Credit and Term Loan Agreement (Emmis Communications Corp), Revolving Credit and Term Loan Agreement (Emmis Communications Corp), Revolving Credit and Term Loan Agreement (Emmis Communications Corp)

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Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan of any Type may be continued as a Revolving Credit Loan of the same Type upon the expiration of an Interest Period with respect thereto by compliance by the Borrower with the notice provisions contained in §Section 2.7.1; provided that no Eurodollar Rate Loan may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Default or Event of Default of which officers of the Administrative Agent active upon the Borrower’s 's account have actual knowledge. In the event that the Borrower fails to provide any such notice with respect to the continuation of any Eurodollar Rate Loan as such, then such Eurodollar Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto. The Administrative Agent shall notify the Revolving Credit Lenders promptly when any such automatic conversion contemplated by this §2.7.2 Section 2.7 is scheduled to occur.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Coach Inc), Revolving Credit Agreement (Coach Inc), And Term Loan Agreement (Il Fornaio America Corp)

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan of any Type may be continued as a Revolving Credit Loan of the same Type upon the expiration of an Interest Period with respect thereto by compliance by the Borrower Borrowers with the notice provisions contained in §2.7.1; provided that no Eurodollar Rate Loan may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Default or Event of Default of which officers of the Administrative Agent active upon the Borrower’s Borrowers’ account have actual knowledge. In the event that the Borrower fails Borrowers fail to provide any such notice with respect to the continuation of any Eurodollar Rate Loan as such, then such Eurodollar Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto. The Administrative Agent shall notify the Revolving Credit Lenders promptly when any such automatic conversion contemplated by this §2.7.2 2.7 is scheduled to occur.

Appears in 2 contracts

Samples: Revolving Credit Agreement (McCormick & Schmick Holdings, L.L.C.), Revolving Credit Agreement (McCormick & Schmicks Seafood Restaurants Inc.)

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan of any Type may be continued as a Revolving Credit Loan of the same Type upon the expiration of an Interest Period with respect thereto by compliance by the Borrower with the notice provisions contained in §Section 2.7.1; provided PROVIDED that no Eurodollar Rate Loan may be continued as such when any Event of Default has occurred and is continuing, but shall be automatically converted to a Base Prime Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Event of Default of which officers of the Administrative Agent active upon the Borrower’s 's account have actual knowledge. In the event that the Borrower fails to provide any such notice with respect to the continuation of any Eurodollar Rate Loan as such, then such Eurodollar Rate Loan shall be automatically converted to a Base Prime Rate Loan on the last day of the first Interest Period relating thereto. The Administrative Agent shall notify the Revolving Credit Lenders promptly when any such automatic conversion contemplated by this §Section 2.7.2 is scheduled to occur.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Timberland Co), Revolving Credit Agreement (Timberland Co)

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan of any Type may be continued as a Revolving Credit Loan of the same Type upon the expiration of an Interest Period with respect thereto by compliance by the Borrower Borrowers with the notice provisions contained in §2.7.1; provided that no Eurodollar LIBOR Rate Loan may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Default or Event of Default of which officers of the Administrative Agent active upon the Borrower’s Borrowers’ account have actual knowledge. In the event that the Borrower fails Borrowers fail to provide any such notice with respect to the continuation of any Eurodollar LIBOR Rate Loan as such, then such Eurodollar LIBOR Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto. The Administrative Agent shall notify the Revolving Credit Lenders promptly (and in any event prior to taking effect) when any such automatic conversion or continuation contemplated by this §2.7.2 2.7 is scheduled to occur.

Appears in 2 contracts

Samples: Credit Agreement (Crystal Rock Holdings, Inc.), Credit Agreement (Vermont Pure Holdings LTD/De)

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan of any Type may be continued as a Revolving Credit Loan of the same Type upon the expiration of an Interest Period with respect thereto by compliance by the Borrower with the notice provisions contained in §2.7.1; provided that no Eurodollar Rate Loan may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Default or Event of Default of which officers of the Administrative Agent active upon the Borrower’s account have actual knowledge. In the event that the Borrower fails to provide any such notice with respect to the continuation of any Eurodollar Rate Loan as such, then such Eurodollar Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto. The Administrative Agent shall notify the Revolving Credit Lenders promptly when any such automatic conversion contemplated by this §2.7.2 2.7 is scheduled to occur.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Friendly Ice Cream Corp), Revolving Credit Agreement (Interpool Inc)

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan of any Type may be continued as a Revolving Credit Loan of the same Type upon the expiration of an Interest Period with respect thereto by compliance by the Borrower with the notice provisions contained in §2.7.1; provided that no Eurodollar LIBOR Rate Loan may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Default or Event of Default of which officers of the Administrative Agent active upon the Borrower’s account have actual knowledge. In the event that the Borrower fails to provide any such notice with respect to the continuation of any Eurodollar LIBOR Rate Loan as such, then such Eurodollar LIBOR Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto. The Administrative Agent shall notify the Revolving Credit Lenders Banks promptly when any such automatic conversion contemplated by this §2.7.2 2.7 is scheduled to occur.

Appears in 1 contract

Samples: Revolving Credit Agreement (Anacomp Inc)

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan of any Type may be continued as a Revolving Credit Loan of the same Type upon the expiration of an Interest Period with respect thereto by compliance by the Borrower Borrowers with the notice provisions contained in §2.7.12.16.1; provided that no Eurodollar Rate Loan may be continued as such when any Event of Default has occurred and is continuing, but in such case shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Event of Default of which officers of the Administrative Agent active upon the Borrower’s Borrowers’ account have actual knowledge. In the event that the Borrower fails Borrowers fail to provide any such notice with respect to the continuation of any Eurodollar Rate Loan as such, then such Eurodollar Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto. The Administrative Agent shall notify the Revolving Credit Lenders promptly when any such automatic conversion contemplated by this §2.7.2 2.16.2 is scheduled to occur.

Appears in 1 contract

Samples: Loan and Security Agreement (Mayors Jewelers Inc/De)

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan Loans of any Type may be continued as a Revolving Credit Loan of the same Type such upon the expiration of an Interest Period with respect thereto by compliance by the Borrower with the notice provisions contained in §2.7.1; provided that no Eurodollar Rate Loan may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Default or Event of Default of which the officers of the Administrative Agent active upon the Borrower’s 's account have actual knowledge. In the event that the Borrower fails to provide any such notice with respect to the continuation of any Eurodollar Rate Loan as such, then such Eurodollar Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto. The Administrative Agent shall notify the Revolving Credit Lenders Banks promptly when any such automatic conversion contemplated by this §2.7.2 2.7 is scheduled to occur. 2.7.3.

Appears in 1 contract

Samples: Revolving Credit Agreement (Watts Industries Inc)

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan Loans of any Type may be continued as a Revolving Credit Loan of the same Type such upon the expiration of an Interest Period with respect thereto by compliance by the Borrower with the notice provisions contained in §2.7.1ss.2.7.1; provided that no Eurodollar LIBOR Rate Loan may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Default or Event of Default of which the officers of the Administrative Agent active upon the Borrower’s 's account have actual knowledge. In the event that the Borrower fails to provide any such notice with respect to the continuation of any Eurodollar LIBOR Rate Loan as such, then such Eurodollar LIBOR Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto. The Administrative Agent shall notify the Revolving Credit Lenders Banks promptly when any such automatic conversion contemplated by this §2.7.2 ss.2.7 is scheduled to occur.

Appears in 1 contract

Samples: Revolving Credit Agreement (Appnet Systems Inc)

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan of any Type may be continued as a Revolving Credit Loan of the same Type upon the expiration of an Interest Period with respect thereto by compliance by the Borrower Borrowers with the notice provisions contained in §2.7.1Section 2.10.1; provided PROVIDED that no Eurodollar Rate Loan may be continued as such when any Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Event of Default of which officers of the Administrative Agent active upon the Borrower’s Borrowers’ account have actual knowledge. In the event that the Borrower fails Borrowers fail to provide any such notice with respect to the continuation of any Eurodollar Rate Loan as such, then such Eurodollar Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto. The Administrative Agent shall notify the Revolving Credit Lenders promptly when any such automatic conversion contemplated by this §2.7.2 Section 2.10.2 is scheduled to occur.

Appears in 1 contract

Samples: Loan and Security Agreement (Fao Inc)

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan of any Type may be continued as a Revolving Credit Loan of the same Type upon the expiration of an Interest Period with respect thereto by compliance by the Borrower Borrowers with the notice provisions contained in §2.7.1Section 2.8.1; provided PROVIDED that no Eurodollar Rate Loan may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Default or Event of Default of which officers of the Administrative Agent active upon the Borrower’s Borrowers' account have actual knowledge. In the event that the Borrower fails Borrowers fail to provide any such notice with respect to the continuation of any Eurodollar Rate Loan as such, then such Eurodollar Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto. The Administrative Agent shall notify the Revolving Credit Lenders promptly when any such automatic conversion contemplated by this §2.7.2 Section 2.8 is scheduled to occur.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Iesi Tx Corp)

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan Loans of any Type may be continued as a Revolving Credit Loan of the same Type such upon the expiration of an Interest Period with respect thereto by compliance by the Borrower with the notice provisions contained in §2.7.1Section 2.5.1; provided that no Eurodollar Rate Loan may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any such Default or Event of Default of which the officers of the Administrative Agent active upon the Borrower’s 's account have actual knowledge. In the event that the Borrower fails to provide any such notice with respect to the continuation of any Eurodollar Rate Loan as such, then such Eurodollar Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the then current Interest Period relating related thereto. The Administrative Agent shall notify the Revolving Credit Lenders Banks promptly when any such automatic conversion contemplated by this §2.7.2 Section 2.5.2 hereof is scheduled to occur. 2.5.3.

Appears in 1 contract

Samples: Revolving Credit (Emmis Communications Corp)

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan Loans of any Type may be continued as a Revolving Credit Loan of the same Type such upon the expiration of an Interest Period with respect thereto by compliance by the Borrower with the notice provisions contained in §ss 2.7.1; provided that no Eurodollar LIBOR Rate Loan may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Default or Event of Default of which the officers of the Administrative Agent active upon the Borrower’s 's account have actual knowledge. In the event that the Borrower fails to provide any such notice with respect to the continuation of any Eurodollar LIBOR Rate Loan as such, then such Eurodollar LIBOR Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto. The Administrative Agent shall notify the Revolving Credit Lenders Banks promptly when any such automatic conversion contemplated by this §2.7.2 ss 2.7 is scheduled to occur.

Appears in 1 contract

Samples: Revolving Credit Agreement (Answerthink Inc)

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan of any Type may be continued as a Revolving Credit Loan of the same Type upon the expiration of an Interest Period with respect thereto by compliance by the Borrower with the notice provisions contained in §2.7.1(S)2.7.1; provided that no Eurodollar LIBOR Rate Loan may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Default or Event of Default of which officers of the Administrative Agent active upon the Borrower’s 's account have actual knowledge. In the event that the Borrower fails to provide any such notice with respect to the continuation of any Eurodollar LIBOR Rate Loan as such, then such Eurodollar LIBOR Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto. The Administrative Agent shall notify the Revolving Credit Lenders promptly when any such automatic conversion contemplated by this §2.7.2 (S).2.7 is scheduled to occur.

Appears in 1 contract

Samples: Revolving Credit Agreement (Lifeline Systems Inc)

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan of any Type may be continued as a Revolving Credit Loan of the same Type upon the expiration of an Interest Period with respect thereto by compliance by the Borrower with the notice provisions contained in §2.7.1(S)2.7.1; provided that no Eurodollar Rate Loan may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Default or Event of Default of which officers of the Administrative Agent active upon the Borrower’s 's account have actual knowledge. In the event that the Borrower fails to provide any such notice with respect to the continuation of any Eurodollar Rate Loan as such, then such Eurodollar Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto. The Administrative Agent shall notify the Revolving Credit Lenders Banks promptly when any such automatic conversion contemplated by this §2.7.2 (S)2.7 is scheduled to occur.

Appears in 1 contract

Samples: Revolving Credit Agreement (Ameriking Inc)

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan of any Type may be continued as a Revolving Credit Loan of the same Type upon the expiration of an Interest Period with respect thereto by compliance by the Borrower with the notice provisions contained in §Section 2.7.1; provided that no Eurodollar LIBOR Rate Loan may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Default or Event of Default of which officers of the Administrative Agent active upon the Borrower’s 's account have actual knowledge. In the event that the Borrower fails to provide any such notice with respect to the continuation of any Eurodollar LIBOR Rate Loan as such, then such Eurodollar LIBOR Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto. The Administrative Agent shall notify the Revolving Credit Lenders Banks promptly when any such automatic conversion contemplated by this §2.7.2 Section 2.7 is scheduled to occur.

Appears in 1 contract

Samples: Revolving Credit Agreement (Hbo & Co)

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan Loans of any Type may be continued as a Revolving Credit Loan of the same Type such upon the expiration of an Interest Period with respect thereto by compliance by the Borrower with the notice provisions contained in §2.7.1Section 2.4.1; provided that no Eurodollar Rate Loan may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any such Default or Event of Default of which the officers of the Administrative Agent active upon the Borrower’s 's account have actual knowledge. In the event that the Borrower fails to provide any such notice with respect to the continuation of any Eurodollar Rate Loan as such, then such Eurodollar Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the then current Interest Period relating related thereto. The Administrative Agent shall notify the Revolving Credit Lenders Banks promptly when any such automatic conversion contemplated by this §2.7.2 Section 2.4.2 hereof is scheduled to occur.

Appears in 1 contract

Samples: Term Loan Agreement (Emmis Communications Corp)

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan Loans of any Type may be continued as a Revolving Credit Loan of the same Type such upon the expiration of an Interest Period with respect thereto by compliance by the Borrower with the notice provisions contained in §Section 2.7.1; provided that no Eurodollar Rate Loan may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Default or Event of Default of which the officers of the Administrative Agent active upon the Borrower’s 's account have actual knowledge. In the event that the Borrower fails to provide any such notice with respect to the continuation of any Eurodollar Rate Loan as such, then such Eurodollar Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto. The Administrative Agent shall notify the Revolving Credit Lenders Banks promptly when any such automatic conversion contemplated by this §2.7.2 Section 2.7 is scheduled to occur.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Trailer Bridge Inc)

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Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan of any Type may be continued as a Revolving Credit Loan of the same Type upon the expiration of an Interest Period with respect thereto by compliance by the Borrower with the notice provisions contained in §2.7.1(S)2.7.1; provided that no Eurodollar Rate Loan may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Default or Event of Default of which officers of the Administrative Agent active upon the Borrower’s 's account have actual knowledge. In the event that the Borrower fails to provide any such notice with respect to the continuation of any Eurodollar Rate Loan as such, then such Eurodollar Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the Interest Period relating thereto. The Administrative Agent shall notify the Revolving Credit Lenders promptly when any such automatic conversion contemplated by this §2.7.2 (S)2.7 is scheduled to occur.

Appears in 1 contract

Samples: Revolving Credit Agreement (Blue Steel Capital Corp)

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan of any Type may be continued as a Revolving Credit Loan of the same Type upon the expiration of an Interest Period with respect thereto by compliance by the Borrower with the notice provisions contained in §2.7.1ss.2.7.1; provided that no Eurodollar Rate Loan may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Default or Event of Default of which officers of the Administrative Agent active upon the Borrower’s 's account have actual knowledge. In the event that the Borrower fails to provide any such notice with respect to the continuation of any Eurodollar Rate Loan as such, then such Eurodollar Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto. The Administrative Agent shall notify the Revolving Credit Lenders Banks promptly when any such automatic conversion contemplated by this §2.7.2 ss.2.7 is scheduled to occur.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Hvide Marine Inc)

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan of any Type may be continued as a Revolving Credit Loan of the same Type upon the expiration of an Interest Period with respect thereto by compliance by the Borrower with the notice provisions contained in §Section 2.7.1; provided that no Eurodollar Rate Loan may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Default or Event of Default of which officers of the Administrative Agent active upon the Borrower’s 's account have actual knowledge. In the event that the Borrower fails to provide any such notice with respect to the continuation of any Eurodollar Rate Loan as such, then such Eurodollar Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto. The Administrative Agent shall notify the Revolving Credit Lenders Banks promptly when any such automatic conversion contemplated by this §2.7.2 Section 2.7 is scheduled to occur.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Mercury Air Group Inc)

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan of any Type may be continued as a Revolving Credit Loan of the same Type upon the expiration of an Interest Period with respect thereto by compliance by the Borrower Borrowers with the notice provisions contained in §2.7.1ss.2.10.1; provided PROVIDED that no Eurodollar Rate Loan may be continued as such when any Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Event of Default of which officers of the Administrative Agent active upon the Borrower’s Borrowers' account have actual knowledge. In the event that the Borrower fails Borrowers fail to provide any such notice with respect to the continuation of any Eurodollar Rate Loan as such, then such Eurodollar Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto. The Administrative Agent shall notify the Revolving Credit Lenders promptly when any such automatic conversion contemplated by this §2.7.2 ss.2.10.2 is scheduled to occur.

Appears in 1 contract

Samples: Mayors Jewelers Inc/De

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan Loans of any Type may be continued as a Revolving Credit Loan of the same Type such upon the expiration of an Interest Period with respect thereto by compliance by the Borrower with the notice provisions contained in §2.7.1ss.2.7.1 hereof; provided PROVIDED that no Eurodollar Rate Loan may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Event of Default of which the officers of the Administrative Agent active upon the Borrower’s 's account have actual knowledge. In the event that the Borrower fails to provide any such notice with respect to the continuation of any Eurodollar Rate Loan as such, then such Eurodollar Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto. The Administrative Agent shall notify the Revolving Credit Lenders Banks promptly when any such automatic conversion contemplated by this §2.7.2 ss.2.7.2 is scheduled to occur.

Appears in 1 contract

Samples: Revolving Credit Agreement (Freedom Securiteis Corp /De/)

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan of any Type may be continued as a Revolving Credit Loan of the same Type upon the expiration of an Interest Period with respect thereto by compliance by the Borrower with the notice provisions contained in §Section 2.7.1; provided that no Eurodollar LIBOR Rate Loan may be continued as such when any Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Event of Default of which officers of the Administrative Agent active upon the Borrower’s 's account have actual knowledge. In the event that the Borrower fails to provide any such notice with respect to the continuation of any Eurodollar LIBOR Rate Loan as such, then such Eurodollar LIBOR Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the such Interest Period relating theretoPeriod. The Administrative Agent shall notify the Revolving Credit Lenders Banks promptly when any such automatic conversion contemplated by this §2.7.2 Section 2.7 is scheduled to occur.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Bangor Hydro Electric Co)

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan of any Type may be continued as a Revolving Credit Loan of the same Type upon the expiration of an Interest Period with respect thereto by compliance by the Borrower with the notice provisions contained in §2.7.1ss.2.7.1; provided that no Eurodollar LIBOR Rate Loan may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Base Prime Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Default or Event of Default of which officers of the Administrative Agent active upon the Borrower’s 's account have actual knowledge. In the event that the Borrower fails to provide any such notice with respect to the continuation of any Eurodollar LIBOR Rate Loan as such, then such Eurodollar LIBOR Rate Loan shall be automatically converted to a Base Prime Rate Loan on the last day of the first Interest Period relating thereto. The Administrative Agent shall notify the Revolving Credit Lenders Banks promptly when any such automatic conversion contemplated by this §2.7.2 ss.2.7 is scheduled to occur.

Appears in 1 contract

Samples: Revolving Credit Agreement (Ionics Inc)

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan Loans of any Type may be continued as a Revolving Credit Loan of the same Type such upon the expiration of an Interest Period with respect thereto by compliance by the Borrower with the notice provisions contained in §2.7.1Section 2.5.1; provided that no Eurodollar Rate Loan may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any such Default or Event of Default of which the officers of the Administrative Managing Agent active upon the Borrower’s 's account have actual knowledge. In the event that the Borrower fails to provide any such notice with respect to the continuation of any Eurodollar Rate Loan as such, then such Eurodollar Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the then current Interest Period relating related thereto. The Administrative Managing Agent shall notify the Revolving Credit Lenders Banks promptly when any such automatic conversion contemplated by this §2.7.2 Section 2.5.2 hereof is scheduled to occur. 2.5.3.

Appears in 1 contract

Samples: Revolving Credit (Emmis Broadcasting Corporation)

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan Loans of any Type may be continued as a Revolving Credit Loan of the same Type such upon the expiration of an Interest Period with respect thereto by compliance by the Borrower with the notice provisions contained in §Section 2.7.1; provided that no Eurodollar Rate Loan may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Base Prime Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Default or Event of Default of which officers of the Administrative Agent active upon the Borrower’s 's account have actual knowledge. In the event that the Borrower fails to provide any such notice with respect to the continuation of any Eurodollar Rate Loan as suchLoan, then such Eurodollar Rate Loan shall be automatically converted to a Base Prime Rate Loan on the last day of the first Interest Period relating thereto. The Administrative Agent shall notify the Revolving Credit Lenders Banks promptly when any such automatic conversion contemplated by this §2.7.2 Section 2.7 is scheduled to occur.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Bell Sports Corp)

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan of any Type may be continued as a Revolving Credit Loan of the same Type upon the expiration of an Interest Period with respect thereto by compliance by the Borrower with the notice provisions contained in §Section 2.7.1; provided that no Eurodollar LIBOR Rate Loan may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Base Prime Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Default or Event of Default of which officers of the Administrative Agent active upon the Borrower’s 's account have actual knowledge. In the event that the Borrower fails to provide any such notice with respect to the continuation of any Eurodollar LIBOR Rate Loan as such, then such Eurodollar LIBOR Rate Loan shall be automatically converted to a Base Prime Rate Loan on the last day of the first Interest Period relating thereto. The Administrative Agent shall notify the Revolving Credit Lenders Banks promptly when any such automatic conversion contemplated by this §2.7.2 Section 2.7 is scheduled to occur. 2.7.3.

Appears in 1 contract

Samples: Revolving Credit Agreement (Rollins Truck Leasing Corp)

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan of any Type may be continued as a Revolving Credit Loan of the same Type upon the expiration of an Interest Period with respect thereto by compliance by the Borrower Borrowers with the notice provisions contained in §2.7.1ss.2.7.1; provided that no Eurodollar Rate Loan may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Default or Event of Default of which officers of the Administrative Agent active upon the Borrower’s 's account have actual knowledge. In the event that the Borrower fails to provide any such notice with respect to the continuation of any Eurodollar Rate Loan as such, then such Eurodollar Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto. The Administrative Agent shall notify the Revolving Credit Lenders Banks promptly when any such automatic conversion contemplated by this §2.7.2 ss.2.7 is scheduled to occur.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Morgan Group Inc)

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan of any Type may be continued as a Revolving Credit Loan of the same Type upon the expiration of an Interest Period with respect thereto by compliance by the Borrower with the notice provisions contained in §2.7.1ss.2.7.1; provided that no Eurodollar Rate Loan may be continued as such when any Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Event of Default of which officers of the Administrative Agent active upon the Borrower’s 's account have actual knowledge. In the event that the Borrower fails to provide any such notice with respect to the continuation of any Eurodollar Rate Loan as such, then such Eurodollar Rate Loan shall be automatically converted to a Base Rate Loan on the last day of the Interest Period relating thereto. The Administrative Agent shall notify the Revolving Credit Lenders promptly when any such automatic conversion contemplated by this §2.7.2 ss.2.7 is scheduled to occur.

Appears in 1 contract

Samples: Credit and Term Loan Agreement (Emmis Communications Corp)

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