Common use of Converting Loan to Bankers’ Acceptances Clause in Contracts

Converting Loan to Bankers’ Acceptances. Subject to Section 3.5 and provided that the Borrower has, by giving notice to the Administrative Agent in accordance with Section 6.4, requested the Lenders to accept its drafts to replace all or a portion of an outstanding Loan and, if a BA Equivalent Loan is to be replaced, the date of conversion is the date on which such Loan matures, each Lender shall, on the date of conversion and concurrent with the payment by the Borrower to each Lender of the principal amount of such outstanding Loan or the portion thereof which is being converted, accept the Borrower’s draft or drafts having an aggregate face amount as provided in the Conversion Notice.

Converting Loan to Bankers’ Acceptances. Subject to Section Sections 3.1 and 3.5 and provided that the applicable Borrower has, by giving notice to the Administrative Agent in accordance with Section 6.4, requested the Lenders to accept its drafts to replace all or a portion of an outstanding Loan and, if a LIBOR Loan or a BA Equivalent Rate Loan is to be replaced, the date of conversion is the date on which such Loan matures, each Lender shall, on the date of conversion and concurrent with the payment by the Borrower Borrowers to each Lender of the principal amount of such outstanding Loan or the portion thereof which is being converted, accept the such Borrower’s 's draft or drafts having an aggregate face amount as provided in the Conversion Notice.

Converting Loan to Bankers’ Acceptances. Subject to Section 3.5 3.4 and provided that the Borrower has, by giving notice to the Administrative Agent in accordance with Section 6.4, requested the Lenders to accept its drafts to replace all or a portion of an outstanding Loan and, if a LIBOR Loan or a BA Equivalent Loan is to be replaced, the date of conversion is the date on which such Loan matures, each Lender shall, on the date of conversion and concurrent with the payment by the Borrower to each Lender of the principal amount of such outstanding Loan or the portion thereof which is being converted, accept the Borrower’s draft or drafts having an aggregate face amount as provided in the Conversion Notice.

Converting Loan to Bankers’ Acceptances. Subject to Section 3.5 Sections 3.01 and 3.05 and provided that the applicable Borrower has, by giving notice to the Administrative Agent in accordance with Section 6.46.04, requested the Lenders to accept its drafts to replace all or a portion of an outstanding Loan and, if a LIBOR Loan or a BA Equivalent Rate Loan is to be replaced, the date of conversion is the date on which such Loan matures, each Lender shall, on the date of conversion and concurrent with the payment by the Borrower Borrowers to each Lender of the principal amount of such outstanding Loan or the portion thereof which is being converted, accept the such Borrower’s draft or drafts having an aggregate face amount as provided in the Conversion Notice.