Common use of LIBOR Loans After Event of Default Clause in Contracts

LIBOR Loans After Event of Default. After the occurrence and during the continuation of an Event of Default, (i) the Borrowers may not elect to have Revolving Credit Loans or Term Loans made or maintained as, or converted to, LIBOR Loans after the expiration of any Interest Period then in effect for such Loans, (ii) any Request for Revolving Credit Loan or Notice of Conversion/Continuation given by the Borrowers with respect to a requested borrowing or conversion/ continuation, as applicable, that has not yet occurred shall be deemed to be rescinded by the Borrowers, and (iii) all LIBOR Loans shall thereupon bear interest at the Default Rate until the Event of Default is cured or the Revolving Credit Loans and Term Loans are paid in full to the Banks and the Revolving Loan Commitments have expired or have been terminated by the Borrowers or the Banks.

LIBOR Loans After Event of Default. After the occurrence and during the continuation of an Event of Default, (i) the Borrowers Borrower may not elect to have Revolving Credit Loans or Term Loans made or maintained as, or converted to, LIBOR Loans after the expiration of any Interest Period then in effect for such Loans, (ii) any Request for Revolving Credit Loan or Notice of Conversion/Continuation given by the Borrowers Borrower with respect to a requested borrowing or conversion/ conversion/continuation, as applicable, that has not yet occurred shall be deemed to be rescinded by the BorrowersBorrower, and (iii) all LIBOR Loans shall thereupon bear interest at the Default Rate until the Event of Default is cured or the Revolving Credit Loans and Term Loans are paid in full to the Banks and the Revolving Loan Commitments have expired or have been terminated by the Borrowers Borrower or the Banks.

LIBOR Loans After Event of Default. After the occurrence and during the continuation of an Event of Default, (i) the Borrowers Borrower may not elect to have Revolving Credit Loans or Term Loans made or maintained as, or converted to, LIBOR Loans after the expiration of any Interest Period then in effect for such Loans, (ii) any Request for Revolving Credit Loan or Notice of Conversion/Continuation given by the Borrowers Borrower with respect to a requested borrowing or conversion/ conversion/continuation, as applicable, that has not yet occurred shall be deemed to be rescinded by the BorrowersBorrower, and (iii) all LIBOR Loans shall thereupon bear interest at the Default Rate until the Event of Default is cured or the Revolving Credit Loans and Term Loans are paid in full to the Banks and the Revolving Loan Commitments have expired or have been terminated by the Borrowers Borrower or the Banks.

LIBOR Loans After Event of Default. After the occurrence and during ---------------------------------- the continuation of an Event of Default, (i) the Borrowers Borrower may not elect to have Revolving Credit Loans or Term Loans made or maintained as, or converted to, LIBOR Loans after the expiration of any Interest Period then in effect for such Loans, (ii) any Request for Revolving Credit Loan or Notice of Conversion/Continuation given by the Borrowers Borrower with respect to a requested borrowing or conversion/ conversion/continuation, as applicable, that has not yet occurred shall be deemed to be rescinded by the BorrowersBorrower, and (iii) all LIBOR Loans shall thereupon bear interest at the Default Rate until the Event of Default is cured or the Revolving Credit Loans and Term Loans are paid in full to the Banks and the Revolving Loan Commitments have expired or have been terminated by the Borrowers Borrower or the Banks.