Common use of Eurocurrency Rate Loans and Competitive Bid Loans After Default Clause in Contracts

Eurocurrency Rate Loans and Competitive Bid Loans After Default. Unless the Required Banks shall otherwise agree, after the occurrence of and during the continuance of a Potential Event of Default or an Event of Default, the Borrowers may not elect to have a Eurocurrency Rate Loan or Competitive Bid Loan be made or have any Eurocurrency Rate Loan continued or have any Base Rate Loan converted into a Eurocurrency Rate Loan.

Appears in 7 contracts

Samples: Credit Agreement (Textron Inc), Day Credit Agreement (Textron Inc), Credit Agreement (Textron Inc)

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