Conversion upon Event of Default. Upon the occurrence and during the continuance of any Event of Default under Section 6.01(a), the Administrative Agent or the Required Lenders may elect that (i) unless repaid, each Term SOFR Advance be, on the last day of the then existing Interest Period therefor, Converted into Base Rate Advances and (ii) the obligation of the Lenders to make, Convert to or Continue Advances as Term SOFR Advances be suspended.
Appears in 5 contracts
Samples: 364 Day Revolving Credit Agreement (Mondelez International, Inc.), Revolving Credit Agreement (Mondelez International, Inc.), 364 Day Revolving Credit Agreement (Mondelez International, Inc.)
Conversion upon Event of Default. Upon the occurrence and during the continuance of any Event of Default under Section 6.01(a), the Administrative Agent or the Required Lenders may elect that (i) unless repaid, each Term SOFR Advance Loan be, on the last day of the then existing Interest Period therefor, Converted into a Base Rate Advances Loan and (ii) the obligation of the Lenders to make, Convert to or Continue Advances Loans as Term SOFR Advances Loans be suspended.
Appears in 2 contracts
Samples: Term Credit Agreement (Mondelez International, Inc.), Term Credit Agreement (Mondelez International, Inc.)
