Fixed Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of SECTION 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Fixed Rate Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate otherwise applicable to the Floating Rate Advance plus 2% per annum.
Fixed Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 9.2 requiring unanimous consent of the Lenders under a Facility to changes in interest rates under such Facility), declare that (i) each Fixed Rate Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the applicable Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 8.5 or 8.6, the interest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances without any election or action on the part of the Administrative Agent or any Lender.
Fixed Rate Advance. No conversion of any Domestic Syndicated Borrowing made as a Fixed Rate Advance shall be permitted except on the last day of the Interest Period in respect thereof.
Fixed Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 9.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Fixed Rate Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the applicable Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 8.5 or 8.6, the interest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances without any election or action on the part of the Administrative Agent or any Lender.
Fixed Rate Advance. The Borrower shall give the Agent irrevocable notice (a "CONVERSION/CONTINUATION NOTICE") of each conversion of a Floating Rate Advance into a Fixed Rate Advance or continuation of a Fixed Rate Advance not later than 10:00 a.m. (Chicago time) at least three Business Days prior to the date of the requested conversion or continuation, specifying:
Fixed Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 9.2 requiring unanimous consent of the Lenders under the Revolving Credit Facility to changes in interest rates under the Revolving Credit Facility), declare that (i) each Fixed Rate Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum and (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the applicable Floating Rate in effect from time to time plus 2% per annum, provided that, during the continuance of a Default under Section 8.5 or 8.6, the interest rates set forth in clauses (i) and (ii) above shall be applicable to all Revolving Credit Advances without any election or action on the part of the Administrative Agent or any Lender.
Fixed Rate Advance. During the continuance of a Default referenced in subparagraph (a) of Article VII or due to a breach of the covenants set forth in Section 6.29 hereof (but for no other Default), the Agent or the Required Lenders may, at their option, by notice to the Company (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.3 requiring unanimous consent of the Lenders to reductions in interest rates), declare that (i) each Fixed Rate Advance shall bear interest until the earlier to occur of the end of the applicable Interest Period and the date on which such Default is cured, at the rate otherwise applicable to such Interest Period plus two percentage points per annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus two percentage points per annum and (iii) the LC Fee shall be increased by two percentage points per annum.
Fixed Rate Advance. If by reason of the occurrence and continuance of an Event of Default Bank elects to declare the Line of Credit to be immediately due and payable, then any make whole premium with respect to the Line of Credit shall become due and payable in the same manner as though Borrower had exercised such right of prepayment
Fixed Rate Advance. During the continuance of a Default the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 9.1 requiring unanimous consent of the Lenders to reductions in interest rates), declare that (i) each Eurodollar Advance (unless such Advances have been reallocated pursuant to Section 2.6) shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to such Interest Period plus 2% per annum and (ii) each Advance (other than those under clause (i) above) shall bear interest at a rate per annum equal to the Alternate Base Rate plus 2% per annum; provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above shall be applicable to all Advances without any election or action on the part of the Agent or any Lender.
Fixed Rate Advance. In the event any Bank fails or refuses to make payment to the Administrative Agent as required herein, then the Administrative Agent, without limitation, shall be entitled to pursue all remedies and rights permitted by this Agreement, law, or equity and further shall be entitled to, but not be required to, (a) fund such Bank's pro rata share of the disbursement or, (b) withhold from such Bank all interest, principal, fees and late charges attributable to such Bank's pro rata share thereof through the date such Bank funds its pro rata share thereof, plus any additional cost or expense, including without limitation, reasonable attorneys fees, incurred by the Administrative Agent as a result of such Bank's failure to pay, or (c) offset against such Bank's pro rata share all sums received by the Administrative Agent in connection with the Revolving Loans until reimbursed by the Bank that failed or refused to make such payment. If the Administrative Agent receives any payments in respect of the Revolving Loans, the Administrative Agent shall use its best efforts to distribute the same pro rata to the Banks on the same day the Administrative Agent shall have collected such payment in immediately available funds, provided, that the Administrative Agent shall in any case distribute such payment by the close of business on the day following the day the Administrative Agent shall have so collected such payment.
