Common use of Effect On Other Advances Clause in Contracts

Effect On Other Advances. If notice has been given pursuant to Section 3.8(a), (b) or (c) suspending the obligation of any Lender to make its Commitment Percentage of any type of LIBOR Rate Loan, or requiring such Lender's Commitment Percentage of LIBOR Rate Loans to be repaid or prepaid, then, unless and until such Lender notifies the Borrower that the circumstances giving rise to such repayment no longer apply (which notice such Lender shall give promptly), all advances which would otherwise be made by such Lender as its Commitment Percentage of LIBOR Rate Loans shall, unless otherwise notified by the Borrower, be made instead as Base Rate Loans.

Appears in 18 contracts

Samples: Credit Agreement (Cooper River Properties LLC), Credit Agreement (Broad River Properties L L C), Credit Agreement (Cooper River Properties LLC)

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Effect On Other Advances. If notice has been given pursuant to Section 3.8(a), (b) or (c) suspending the obligation of any Lender to make its Commitment Percentage of any type of LIBOR Rate Loan, or requiring such Lender's Commitment Percentage of LIBOR Rate Loans to be repaid or prepaid, then, unless and until such Lender notifies the Borrower that the circumstances giving rise to such repayment no longer apply (which notice such Lender shall give promptly)apply, all advances which would otherwise be made by such Lender as its Commitment Percentage of LIBOR Rate Loans shall, unless otherwise notified by the Borrower, be made instead as Base Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Insignia Financial Group Inc)

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