Common use of Conversion by Lenders Clause in Contracts

Conversion by Lenders. Upon written notice to such effect to the Borrower at such time as a Default has occurred and is continuing, the Administrative Agent may, on the maturity date of a LIBOR Loan, convert such LIBOR Loan into a Base Rate Canada Loan, as though a notice to such effect had been given in accordance with Section 6.2.

Conversion by Lenders. Upon written notice to such effect to the Borrower at such time as a Default has occurred and is continuing, the Administrative Agent may, as applicable, on the maturity date of a LIBOR Loan, convert such LIBOR Loan into a Base Rate Canada Loan, as applicable, as though a notice to such effect had been given in accordance with Section 6.2.