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Common use of Floor Clause in Contracts

Floor. Notwithstanding anything to the contrary elsewhere in this Agreement or in any other Loan Document, if, at any time, any Successor Rate, as determined in accordance with Section 3.03(b), would (but for the adjustment described in this clause (e)) be less than zero percent (0.0%) per annum, then such Successor Rate shall be deemed to equal zero percent (0.0%) per annum for all purposes of this Agreement and the other Loan Documents.

Appears in 2 contracts

Samples: Credit Agreement (Connecticut Light & Power Co), Credit Agreement (Connecticut Light & Power Co)

Floor. Notwithstanding anything to the contrary elsewhere in this Agreement or in any other Loan Document, if, at any time, any Successor Rate, as determined in accordance with this Section 3.03(b)3.3, would (but for the adjustment described in this clause (e)) be less than zero percent (0.0%) per annum, then such Successor Rate shall be deemed to equal zero percent (0.0%) per annum for all purposes of this Agreement and the other Loan Documents.

Appears in 2 contracts

Samples: Credit Agreement (Connecticut Light & Power Co), Credit Agreement (Connecticut Light & Power Co)