Effect on Interest Options Clause Samples
The "Effect on Interest Options" clause defines how certain events or actions impact the rights or choices related to interest-bearing components of an agreement. Typically, this clause outlines what happens to accrued or future interest when a contract is amended, terminated, or when specific options are exercised by a party. For example, it may specify whether interest continues to accrue, is recalculated, or is forfeited under particular circumstances. Its core function is to provide clarity and predictability regarding the treatment of interest, thereby preventing disputes and ensuring all parties understand the financial implications of their decisions within the contract.
Effect on Interest Options. If notice has been given pursuant to Section 4.02 or Section 4.03 requiring the Eurodollar Advances of any Bank to be repaid or converted, then unless and until such Bank notifies Borrowers that the circumstances giving rise to such repayment no longer apply, all Advances shall be Floating Base Advances. If such Bank notifies Borrowers that the circumstances giving rise to such repayment no longer apply, Borrowers may thereafter select Advances to be Eurodollar Advances in accordance with Section 2.02(c) of this Loan Agreement.
Effect on Interest Options. 49 6.4 PAYMENTS NOT AT END OF INTEREST PERIOD....................... 49 6.5
Effect on Interest Options. If notice has been given pursuant to Section 4.1 requiring a type of Eurodollar Loan to be repaid or converted, then unless and until the Bank notifies the Borrower that the circumstances giving rise to such repayment no longer apply requiring such repayment or conversion, all Loans shall thereafter be Alternate Base Rate Loans. If the Bank notifies the Borrower that the circumstances giving rise to such repayment no longer apply, the Borrower may thereafter select Loans to be Eurodollar Loans in accordance with Section 3.2.A.(1).
Effect on Interest Options. If notice has been given pursuant to Section -------------------------- 5.1 or Section 5.2 requiring a type of Adjusted Libor Rate Loan to be repaid or converted, then unless and until the Bank notifies the Borrowers that the circumstances giving rise to such repayment no longer apply requiring such repayment or conversion, Adjusted Libor Rate Loans shall thereafter be Base Rate Loans. If the Bank notifies the Borrowers that the circumstances giving rise to such repayment no longer apply, the Borrowers may thereafter select Loans to be the Adjusted Libor Rate Loans in accordance with Section 4.3.A or Section 4.3.B.
Effect on Interest Options. If notice has been given pursuant to Section 4.02 or Section 4.03 requiring the LIBOR Advances of any Bank to be repaid or converted, then unless and until such Bank notifies Company that the circumstances giving rise to such repayment no longer apply, all Advances shall be Base Rate Advances. If such Bank notifies Company that the circumstances giving rise to such repayment no longer apply, Company may thereafter select Advances to be LIBOR Advances in accordance with Section 2.02(c) of this Loan Agreement.
Effect on Interest Options. If notice has been given pursuant to Section 4.02 requiring any Advances to be repaid or converted, then unless and until such Bank notifies Borrower that the circumstances giving rise to such repayment no longer apply, all Advances shall be Floating Base Advances (or, if CD Advances were required to be repaid or converted, Eurodollar Advances, and vice versa, unless prohibited hereunder). If such Bank notifies Borrower that the circumstances giving rise to such repayment no longer apply, Borrower may thereafter select Advances to be of the type which had been required to be repaid or converted in accordance with Section 2.02(c) of this Loan Agreement.
Effect on Interest Options. If notice has been given pursuant to this Section requiring advances subject to the LIBOR Rate Option to be repaid or converted, then unless and until the Agent notifies Borrower that the circumstances giving rise to such repayment no longer apply requiring such repayment or conversion, all subsequent advances shall be subject to the Prime Rate Option. If the Agent notifies Borrower that the circumstances giving rise to such repayment no longer apply, then Borrower may thereafter select the LIBOR Rate Option in accordance with of this Agreement.