Common use of Converting Bankers’ Acceptances and BA Rate Loans to Loan Clause in Contracts

Converting Bankers’ Acceptances and BA Rate Loans to Loan. Each Lender shall, on the maturity date of a Bankers’ Acceptance which such Lender has accepted, pay to the holder thereof the face amount of such Bankers’ Acceptance. Provided that the Borrower has, by giving notice to the Agent in accordance with Section 6.4, requested the Lenders to convert all or a portion of outstanding maturing Bankers’ Acceptances into a Loan, or, in accordance with Section 6.5 or 6.6 there is a deemed conversion into a Loan, upon the maturity date of such Bankers’ Acceptance, each Lender shall, upon the payment by such Lender to the holders of such maturing Bankers’ Acceptances of the aggregate face amount thereof, extend credit to the Borrower by way of the requested Loan in the principal amount equal to its Pro Rata Share of the aggregate amount of credit represented by such maturing Bankers’ Acceptances or the portion thereof which is being converted or the Exchange Equivalent thereof. Where a particular Lender has funded the Borrower by way of a BA Rate Loan rather than by way of Bankers’ Acceptances, the provisions of this Section 6.3 as they relate to Bankers’ Acceptances shall apply mutatis mutandis to such BA Rate Loan.

Converting Bankers’ Acceptances and BA Rate Loans to Loan. Each Lender shall, on the maturity date of a Bankers’ Acceptance which such Lender has accepted, pay to the holder thereof the face amount of such Bankers’ Acceptance. Provided that the Borrower has, by giving notice to the Agent in accordance with Section 6.4, requested the Lenders to convert all or a portion of outstanding maturing Bankers’ Acceptances into a Loan, or, in accordance with Section 6.5 or 6.6 there is a deemed conversion into a Loan, upon the maturity date of such Bankers’ Acceptance, each Lender shall, upon the payment by such Lender to the holders of such maturing Bankers’ Acceptances of the aggregate face amount thereof, extend credit to the Borrower by way of the requested Loan in the principal amount equal to its Pro Rata Share of the aggregate amount of credit represented by such maturing Bankers’ Acceptances or the portion thereof which is being converted or the Exchange Equivalent thereof. Where a particular Lender has funded the Borrower by way of a BA Rate Loan rather than by way of Bankers’ Acceptances, the provisions of this Section 6.3 as they relate to Bankers’ Acceptances shall apply mutatis mutandis to such BA Rate Loan.Exchange

Converting Bankers’ Acceptances and BA Rate Loans to Loan. Each Lender shall, on the maturity date of a Bankers’ Acceptance which such Lender has accepted, pay to the holder thereof the face amount of such Bankers’ Acceptance. Provided that the Borrower has, by giving notice to the Agent in accordance with Section 6.4, requested the Lenders to convert all or a portion of outstanding maturing Bankers’ Acceptances into a Loan, or, in accordance with Section 6.5 or 6.6 there is a deemed conversion into a Loan, upon the maturity date of such Bankers’ Acceptance, each Lender shall, upon the payment by such Lender to the holders of such maturing Bankers’ Acceptances of the aggregate face amount thereof, extend credit to the Borrower by way of the requested Loan in the principal amount equal to its Pro Rata Share of the aggregate amount of credit represented by such maturing Bankers’ Acceptances or the portion thereof which is being converted or the Exchange Equivalent thereof. Where a particular Lender Lxxxxx has funded the Borrower by way of a BA Rate Loan rather than by way of Bankers’ Acceptances, the provisions of this Section 6.3 as they relate to Bankers’ Acceptances shall apply mutatis mutandis to such BA Rate Loan.