Existing LIBOR Loans. Notwithstanding anything herein or in Exhibit A hereto to the contrary, (a) each Existing LIBOR Loan (as defined below) shall continue in effect as a LIBOR Loan (as defined in the Existing Credit Agreement) in accordance with its terms until, and only until, the Interest Period in effect as of the effective date of the Part A Amendments for such Existing LIBOR Loan has ended, and (b) the Existing LIBOR-Related Definitions (as defined below) and provisions in the Existing Credit Agreement with respect thereto shall continue in effect solely for such purpose with respect to any Existing LIBOR Loan; provided that at the end of such Interest Period for any Existing LIBOR Loan, such Existing LIBOR Loan shall automatically be converted into a SOFR Loan with an initial Interest Period of one (1) month. As used in this Section:
Existing LIBOR Loans. Notwithstanding the amendments contemplated by this Amendment, interest due and payable under the Credit Agreement on January 31, 2023, shall accrue and be payable as set forth in the Existing Credit Agreement without giving effect to the amendments contemplated by this Amendment.
Existing LIBOR Loans. The parties hereto acknowledge and agree that notwithstanding any provision of the Credit Agreement to the contrary, LIBOR Loans (as defined in the Existing Credit Agreement) that are outstanding immediately prior to the Effective Date (the “Existing LIBOR Loans”) shall, after the Effective Date, unless earlier prepaid, continue as LIBOR Loans and interest thereon shall continue to be calculated using the LIBOR Rate (as defined in the Existing Credit Agreement) in a manner consistent with the LIBOR Rate used thereon prior to the Effective Date until the end of the Interest Period (as defined in the Existing Credit Agreement) currently in effect and applicable to such Existing LIBOR Loans; provided, that at the end of the Interest Period currently in effect and applicable to such LIBOR Loans, the Existing LIBOR Loans shall automatically convert to Term SOFR Loans with an Interest Period of one (1) month. For the avoidance of doubt, new LIBOR Loans shall not be available under the Credit Agreement on and after the Effective Date.
Existing LIBOR Loans. Notwithstanding anything to the contrary contained herein or in any other Document, (i) all LIBO Rate Loans (as defined in the Existing Credit Agreement) outstanding as of the Effective Date (the “Existing LIBOR Loans”) shall continue to accrue interest based on the LIBO Rate (as defined in the Existing Credit Agreement) until the last day of the Interest Period (as defined in the Existing Credit Agreement) applicable to each such Existing LIBOR Loan, and thereafter, such Existing LIBOR Loan shall be automatically converted to a SOFR Loan, and (ii) the terms of the Existing Credit Agreement in respect of administration of Loans that bear interest based on the LIBO Rate (as defined in the Existing Credit Agreement), solely with respect to Existing LIBOR Loans, shall remain in effect from and after the Effective Date until the last day of the Interest Period (as defined in the Existing Credit Agreement) applicable to each such Existing LIBOR Loan, solely for purposes of administering the Existing LIBOR Loans; provided, that notwithstanding the foregoing, the Applicable Rate with respect to any Existing LIBOR Loans shall be calculated by increasing the “Margin PIK Component” of the Applicable Rate otherwise applicable in respect of such Existing LIBOR Loans under the Existing Credit Agreement by three percent (3.0%) per annum during the period from the Third Amendment Effective Date through the last day of the Interest Period applicable to each such Existing LIBOR Loan.
Existing LIBOR Loans. Notwithstanding anything to the contrary contained herein or in any other Loan Document, the parties hereto acknowledge and agree that the LIBOR Loans (as defined in the Loan Agreement as in effect immediately prior to the Amendment Effective Date, the “Existing Loan Agreement”) that were outstanding immediately prior to the Amendment Effective Date (“Existing LIBOR Loans”) shall, immediately upon the Effective Date, convert to a RFR Loan (as defined in the Loan Agreement after giving effect to this Amendment No. 3, the “Amended Loan Agreement”) and interest thereon shall accrue at a rate based on the Adjusted Daily SOFR Rate until the Borrower shall deliver a Notice of Conversion converting such RFR Loan to a Loan of another Type pursuant to the terms of the Amended Loan Agreement. Each Lender hereby waives any compensation under Section 4.4 of the Existing Loan Agreement or the Amended Loan Agreement in connection with a Conversion of the Existing LIBOR Loans to a RFR Loan on the Amendment Effective Date pursuant to this Section 4.
Existing LIBOR Loans. This Amendment shall not apply with respect to any credit extension requested, made or outstanding that bears interest with reference to a rate based on LIBOR (as defined in the Credit Agreement immediately prior to the First Amendment Effective Date) that is or was set at any time prior to the First Amendment Effective Date and is held constant for a specifically designated period and is not reset on a daily or a substantially daily basis (disregarding day count, weekend or holiday conventions), and notwithstanding anything contained herein to the contrary, the applicable provisions of the Credit Agreement in 1095144315\5\AMERICAS effect immediately prior to the First Amendment Effective Date shall continue in effect solely for such purpose; provided that, with respect to any such credit extension described in this Section 3, such credit extension shall only continue in effect in accordance with its terms until the then-current “Interest Period” (or similar or analogous period) for such credit extension has concluded.
Existing LIBOR Loans. As of date of this Amendment, the Borrower, the Administrative Agent and the Lenders acknowledge that there are existing Libor Loans (as defined in the Credit Agreement, as such agreement existed prior to the amendments contemplated in Exhibit A (the “Existing Credit Agreement”)) outstanding under the Existing Credit Agreement in the amounts and with the maturity dates set out below. Such Libor Loans shall remain Advances under the Credit Agreement until their respective maturity date whereupon each such maturing Libor Loan will be converted to a SOFR Loan or repaid with the proceeds of a USBR Loan. LEGAL_39694003.1.DOCX LIBOR Loan Amount LIBOR Loan Maturity US$[DELETED] 08-15-22 US$[DELETED] 08-26-22 US$[DELETED] 08-31-22 US$[DELETED] 08-31-22
Existing LIBOR Loans. Notwithstanding anything to the contrary set forth in this Agreement, the First Amendment or any other Facility Document, with respect to any Loans bearing interest at a rate determined by reference to the “LIBOR Rate” (as defined and in the manner set forth in this Agreement immediately prior to giving effect to the First Amendment) immediately prior to giving effect to the First Amendment (each such Loan, an “Existing LIBOR Loan”), each such Existing LIBOR Loan shall automatically convert to a Loan bearing interest at the Term SOFR Rate for the remainder of the Interest Accrual Period in effect for such Existing LIBOR Loan plus the same Applicable Margin used to determine the interest rate applicable to SOFR Loans (after giving effect to the First Amendment).
Existing LIBOR Loans. Notwithstanding anything to the contrary set forth in this Agreement or any other Loan Document, with respect to any Loan bearing interest at a rate determined by reference to the "Eurodollar Rate" immediately prior to giving effect to the First Amendment to First Amended and Restated Credit Agreement, dated as of March 2, 2023, by and among the Borrower, the lenders party thereto and the Administrative Agent (the "First Amendment") (each such Loan, an "Existing LIBOR Loan"): (i) each such Existing LIBOR Loan shall continue to bear interest based on the "Eurodollar Rate" for the "Interest Period" in effect for such Existing LIBOR Loan (in each case as defined in this Agreement immediately prior to giving effect to the First Amendment) in the manner and with the rate and margins set forth in this Agreement immediately prior to giving effect to the First Amendment and (ii) at the end of the current "Interest Period" (as defined in this Agreement immediately prior to giving effect to the First Amendment) for each Existing LIBOR Loan (A) all accrued and unpaid interest on such Existing LIBOR Loan shall be paid in full and (B) such Existing LIBOR Loan shall be either paid in full or such Existing LIBOR Loan shall be converted to a Base Rate Loan or a SOFR Loan, in each case in the manner set forth in this Agreement after giving effect to the First Amendment. The parties hereby agree that any rights, privileges and protections granted to the Administrative Agent or any other Lender pursuant to the terms and conditions of this Agreement (prior to giving effect to the First Amendment) or any other Loan Document in connection with any Existing LIBOR Loan shall survive and remain in full force and effect with respect to each such Existing LIBOR Loan until all such Existing LIBOR Loans have been repaid in full or converted to Base Rate Loans or SOFR Loans under the terms of this Agreement.
Existing LIBOR Loans. Notwithstanding anything to the contrary in this Amendment or in the Amended Credit Agreement, any Eurodollar Loans (as defined in the Existing Credit Agreement) denominated in dollars outstanding immediately prior to the Amendment No. 1 Effective Date shall continue to bear interest at a rate determined by reference to the Adjusted LIBO Rate until the end of the Interest Period applicable to such Eurodollar Loan.
