Common use of Deemed Conversions on the Maturity Date Clause in Contracts

Deemed Conversions on the Maturity Date. If the Borrower does not deliver to the Agent one or more of the notices contemplated by subsections 6.4.1 or 6.4.2 or does not give the notice and make the deposit contemplated by subsection 6.4.3, the Borrower shall be deemed to have requested that the part of the BA Advance then outstanding which is reaching maturity be converted into a Prime Rate Advance.

Appears in 7 contracts

Samples: Credit Agreement (Videotron Ltee), Credit Agreement (Quebecor Media Inc), Credit Agreement (Videotron Ltee)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!