Conversion to the Base Rate Sample Clauses
The "Conversion to the Base Rate" clause establishes the process by which an interest rate, originally set at a different benchmark or reference rate, is recalculated or adjusted to align with the base rate specified in the agreement. In practice, this clause applies when the original rate becomes unavailable, is discontinued, or when parties agree to switch to a more stable or commonly used rate, such as a central bank's base rate. Its core function is to ensure continuity and predictability in interest calculations, thereby minimizing disputes and maintaining the financial integrity of the contract when reference rates change.
Conversion to the Base Rate. If any Alternative Currency Loan is required to bear interest based at the Base Rate rather than the LIBOR Rate, pursuant to Section 4.1(c), Section 4.10 or any other applicable provision hereof, such Loan shall be deemed funded in Dollars in an amount equal to the Dollar Amount of such Alternative Currency Loan, all subject to the provisions of Section 2.4(b). The applicable Borrower shall reimburse the Lenders upon any such conversion for any amounts required to be paid under Section 4.11 and Section 4.12(d).
Conversion to the Base Rate. If any Eurocurrency Loan is required to bear interest based at the Alternate Base Rate rather than the LIBO Rate pursuant to Section 2.09(c), Section 2.17 or any other applicable provision hereof, such Loan shall be funded in dollars in an amount equal to the Equivalent Dollar Amount of such Eurocurrency Loan, all subject to the provisions of Section 2.05
Conversion to the Base Rate. If any Eurocurrency Loan or RFR Loan denominated in Sterling is required to bear interest based at the Alternate Base Rate rather than the LIBO RateBenchmark pursuant to Section 2.09(c), Section 2.17 or any other applicable provision hereof, such Loan shall be funded in Dollars in an amount equal to the Equivalent Dollar Amount of such Eurocurrency Loan or RFR Loan, all subject to the provisions of Section 2.05(b). The Borrower shall reimburse the Lenders upon any such conversion for any amounts required to be paid under Section 2.18.