Common use of Existing LIBOR Advances Clause in Contracts

Existing LIBOR Advances. Notwithstanding anything to the contrary in this Amendment or the Credit Agreement, (i) each Eurodollar Rate Advance (as defined in the Existing Credit Agreement) outstanding immediately prior to the Amendment Effective Date (each, an “Existing LIBOR Advance”) shall continue to accrue interest based on the Eurodollar Rate (as defined in the Existing Credit Agreement) applicable to such Existing LIBOR Advance until the last day of the Interest Period (as defined in the Existing Credit Agreement) applicable to such Existing LIBOR Advance in effect immediately prior to the Amendment Effective Date (such last day, with respect to any Existing LIBOR Advance, a “LIBOR Termination Date”), and thereafter shall be a Term Benchmark Advance or an Alternate Base Rate Advance as determined in accordance with the Credit Agreement and (ii) the terms of the Existing Credit Agreement in respect of the calculation, payment and administration of each Existing LIBOR Advance shall remain in effect from and after the date hereof until the LIBOR Termination Date applicable to such Existing LIBOR Advance solely for purposes of making, and the administration of, fee and interest payments on such Existing LIBOR Advance.