CONVERSION TO PRIME LOANS. If any Event of Default has occurred and is continuing under the Note or this Addendum, then in addition to all other remedies available to Bank under the Note, at the option of Bank and without demand or notice, all Libor Loans then outstanding shall be automatically converted to Prime Loans on the last day of each respective Interest Period for each Libor Loan.
Appears in 6 contracts
Samples: Promissory Note (Coastcast Corp), Credit Agreement (Micro General Corp), Credit Agreement (Tekelec)
CONVERSION TO PRIME LOANS. If any Event of Default has occurred and is continuing under the Note or this Addendum, then in addition to all other remedies available to Bank under the Note, at the option of Bank and without demand or notice, all Libor Loans then outstanding shall be automatically converted to Prime Loans Plans on the last day of each respective Interest Period for each Libor Loan.
Appears in 1 contract
Samples: Security and Loan Agreement (Myers Steven & Associates Inc)
