Common use of LIBO Rate Loans Clause in Contracts

LIBO Rate Loans. In anticipation of the expiry of each Interest Period for each LIBO Rate Loan the Principal Borrower shall do one or a combination of the following: (i) request a Rollover of all or part of such LIBO Rate Loan in accordance with Section 2.6(a); (ii) request a Conversion of all or part of such LIBO Rate Loan in accordance with Section 2.6(a); or (iii) repay all or part of such LIBO Rate Loan before 12:00 noon (Toronto time) on the last day of such Interest Period with notice in accordance with Section 7.1(c). If and to the extent that the Principal Borrower fails to so notify the Agent, or to so pay the relevant LIBO Rate Loan in accordance with the foregoing, the Principal Borrower, in the case of a LIBO Rate Loan, shall be deemed to have requested a Conversion into a USBR Loan, in each case in an amount equal to that portion of the LIBO Rate Loan which is not rolled over, converted or repaid.

LIBO Rate Loans. In anticipation of the expiry of each Interest Period for each LIBO Rate Loan the Principal Borrower shall do one or a combination of the following: (i) request a Rollover of all or part of such LIBO Rate Loan in accordance with Section 2.6(a2.4(a); (ii) request a Conversion of all or part of such LIBO Rate Loan in accordance with Section 2.6(a2.4(a); or (iii) repay all or part of such LIBO Rate Loan before 12:00 noon (Toronto time) on the last day of such Interest Period with notice in accordance with Section 7.1(c)7.2. If and to the extent that the Principal Borrower fails to so notify the Agent, or to so pay the relevant LIBO Rate Loan in accordance with the foregoing, the Principal Borrower, in the case of a LIBO Rate Loan, shall be deemed to have requested a Conversion into a USBR Loan, in each case in an amount equal to that portion of the LIBO Rate Loan which is not rolled over, converted or repaid.