Continued Loans Sample Clauses

Continued Loans. NEC Corporation shall be required to leave in place the NEC Debt Obligation until May 31, 2018 and 51% of the Thai Rebuilding Debt Obligation until the due date thereof (but not later than May 31, 2018), if any amount is outstanding, in the event NEC Corporation exercises the Put Option; provided that, (i) the lending rates for the continued loan in respect of the NEC Debt Obligation and the Thai Rebuilding Debt Obligation shall be subject to changes reasonably made by NEC Corporation to reflect a new lending rate to be determined by NEC Corporation based on the credit spread which would be available to companies of the same credit rating in Japan as the Company, (ii) other terms for the continued loan shall be subject to changes reasonably acceptable to NEC Corporation and KEMET and (iii) NEC Corporation shall have the right to, at its option, on terms reasonably acceptable to Purchaser, convert the NEC Debt Obligation to preferred stock of the Company with mandatory dividends that accrue at a rate equivalent to the Japanese market lending rate that NEC reasonably determines based on reference to similar instruments and with a cash redemption date of May 31, 2018. If KEMET reasonably believes that such changed lending rates does not reflect Japanese market standard lending rates, KEMET is entitled to appeal with the evidence and KEMET and NEC Corporation shall enter into a good faith discussion. For the avoidance of doubt, the condition set forth in Sections 2.3(e)(ii)(D) or 2.3(e)(ii)(E) shall not be satisfied and the Put Option shall not close in the event the terms of the continued loan (other than the interest rate) in respect of the NEC Debt Obligation and the Thai Rebuilding Debt Obligation or the terms of the preferred stock are not reasonably acceptable to NEC Corporation and Purchaser as provided herein; provided that in the event the changed terms of the NEC Debt Obligation or the Thai Rebuilding Debt Obligation (other than the interest rate), as applicable, are similar to and consistent with the existing terms of the NEC Debt Obligation or the Thai Rebuilding Debt Obligation, as applicable, as set forth in Exhibit III to the Stock Purchase Agreement and as modified by the Transaction Documents as in effect prior to, and without taking into account, the exercise of the Put Option, then the condition set forth in Sections 2.3(e)(ii)(D) or 2.3(e)(ii)(E), as applicable, shall be deemed to be satisfied . In the event neither the Second Call Option n...
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Continued Loans 
Sample 1

Related to Continued Loans

  • LIBOR Advances The interest rate applicable to each LIBOR Advance shall be determined in accordance with Section 3.6(a) hereunder. Subject to Sections 3.6 and 3.7, such rate shall apply during the entire Interest Period applicable to such LIBOR Advance, and interest calculated thereon shall be payable on the Interest Payment Date applicable to such LIBOR Advance.

  • 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.

  • Committed Loans Subject to the terms and conditions set forth herein, each Lender severally agrees to make loans (each such loan, a “Committed Loan”) to the Borrower from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Commitment; provided, however, that after giving effect to any Committed Borrowing, (i) the Total Outstandings shall not exceed the Aggregate Commitments, and (ii) the aggregate Outstanding Amount of the Committed Loans of any Lender, plus such Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations, plus such Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s Commitment. Within the limits of each Lender’s Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01, prepay under Section 2.05, and reborrow under this Section 2.01. Committed Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein.

  • LIBOR Loans Subject to the provisions hereof and provided that the Borrower has, by giving notice to the Administrative Agent in accordance with Section 5.2, requested the Lenders to continue to extend credit by way of a LIBOR Loan to replace all or a portion of an outstanding LIBOR Loan as it matures, each Lender shall, on the maturity of such LIBOR Loan, continue to extend credit to the Borrower by way of a LIBOR Loan (without a further advance of funds to the Borrower) in the principal amount equal to such Lender’s Pro Rata Share of the principal amount of the matured LIBOR Loan or the portion thereof to be replaced.

  • 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.

  • 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.

  • Eurodollar Loans The Loans comprising each Eurodollar Borrowing shall bear interest at the Adjusted LIBO Rate for the Interest Period in effect for such Borrowing plus the Applicable Margin, but in no event to exceed the Highest Lawful Rate.

  • 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).

  • LOANS, ADVANCES, INVESTMENTS Make any loans or advances to or investments in any person or entity, except any of the foregoing existing as of, and disclosed to Bank prior to, the date hereof.

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