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, upon the expiration of an Interest Period with respect thereto, be (a) continued as a Revolving Credit Loan of the same Type or (b) converted to a Revolving Credit Loan of a different Type by compliance by the Borrower with the notice provisions contained in §2.7.1; provided that no 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 LIBOR Rate Loan as such, then such 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 Lenders promptly when any such automatic conversion contemplated by this §2.7 is scheduled to occur.

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan of any Type may, upon the expiration of an Interest Period with respect thereto, be (a) continued as a Revolving Credit Loan of the same Type or (b) converted to a Revolving Credit Loan of a different Type by compliance by the Borrower with the notice provisions contained in §2.7.1; provided that no 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 LIBOR Rate Loan as such, then such 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 Lenders promptly when any such automatic conversion contemplated by this §2.7 is scheduled to occur.

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan of any Type may, may be continued by the US Borrower as a Revolving Credit Loan of the same Type upon the expiration of an Interest Period with respect thereto, be (a) continued as a Revolving Credit Loan of the same Type or (b) converted to a Revolving Credit Loan of a different Type thereto by compliance by the US Borrower with the notice provisions contained in §2.7.1(Section)2.8.1; provided that no LIBOR Rate Loan may be continued as such when any Default or a Payment Event of Default or an Event of Default under (Section)14.1 (g) or (h) 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 such an Event of Default of which officers of the Administrative Agent active upon the US Borrower’s 's account have actual knowledge. In the event that the US Borrower fails to provide any such notice with respect to the continuation of any LIBOR Rate Loan as such, then such LIBOR Rate Loan shall be automatically converted to a Base Rate Loan continued with an Interest Period of one month on the last day of the first Interest Period relating thereto. The Administrative Agent shall notify the Lenders promptly when any such automatic conversion continuation contemplated by this §2.7 (Section)2.8 is scheduled to occur.

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan of any Type may, upon the expiration of an Interest Period with respect thereto, may be (a) continued as a Revolving Credit Loan of the same Type or (b) converted to a Revolving Credit Loan upon the expiration of a different Type an Interest Period with respect thereto by compliance by the Borrower with the notice provisions contained in §Section 2.7.1; provided that no 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 at the end of business 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 in respect of 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 LIBOR Rate Loan as such, then such LIBOR Rate Loan shall be automatically converted to a Base Rate Loan at the end of business on the last day of the first Interest Period relating thereto. The Administrative Agent shall notify the Lenders Banks promptly when any such automatic conversion contemplated by this §2.7 Section 2.7.2 is scheduled to occur.

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan of any Type may, upon the expiration of an Interest Period with respect thereto, may be (a) continued as a Revolving Credit Loan of the same Type or (b) converted to a Revolving Credit Loan upon the expiration of a different Type 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 as to LIBOR Rate Loans, no such 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 LIBOR Rate Loan as such, then such 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 Lenders Banks promptly when any such automatic conversion contemplated by this §2.7 (S)2.7 is scheduled to occur.

Continuation of Type of Revolving Credit Loan. Any Revolving Credit Loan of any Type may, may be continued by the US Borrower as a Revolving Credit Loan of the same Type upon the expiration of an Interest Period with respect thereto, be (a) continued as a Revolving Credit Loan of the same Type or (b) converted to a Revolving Credit Loan of a different Type thereto by compliance by the US Borrower with the notice provisions contained in §2.7.1Section 2.8.1; provided that no LIBOR Rate Loan may be continued as such when any Default or a Payment Event of Default or an Event of Default under Section 14.1 (g) or (h) 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 such an Event of Default of which officers of the Administrative Agent active upon the US Borrower’s 's account have actual knowledge. In the event that the US Borrower fails to provide any such notice with respect to the continuation of any LIBOR Rate Loan as such, then such LIBOR Rate Loan shall be automatically converted to a Base Rate Loan continued with an Interest Period of one month on the last day of the first Interest Period relating thereto. The Administrative Agent shall notify the Lenders promptly when any such automatic conversion continuation contemplated by this §2.7 Section 2.8 is scheduled to occur.