LIBOR Rate Loans After Default. Unless the Required Lenders shall otherwise agree in writing, after occurrence and during the continuance of an Unmatured Event of Default or an Event of Default, Borrower may not elect to have a Loan be made or continued as, or converted to, a LIBOR Rate Loan after the expiration of any Interest Period then in effect for that Loan.
Appears in 2 contracts
Samples: Secured Credit Agreement (Irwin Naturals 4 Health), Secured Credit Agreement (Gibraltar Packaging Group Inc)
LIBOR Rate Loans After Default. Unless the Required Agent and Requisite Lenders shall otherwise agree in writingagree, after the occurrence of and during the continuance of an Unmatured Event of a Default or an Event of Default, Borrower may not elect to have a Loan be made or continued as, or converted to, a LIBOR Rate Loan after the expiration of any Interest Period then in effect for that Loan.
Appears in 2 contracts
Samples: Credit Agreement (Lynch Corp), Credit Agreement (Spinnaker Industries Inc)
LIBOR Rate Loans After Default. Unless After the Required Lenders shall otherwise agree in writing, after occurrence of and during the continuance continuation of an Unmatured Event of Default or an Event of Default, (i) Borrower may not elect to have a Loan be made or continued maintained as, or converted to, a LIBOR Rate Loan after the expiration of any Interest Period then in effect for that LoanLoan and (ii) subject to the provisions of subsection 2.5D, any Notice of Borrowing or Notice of Conversion given by Borrower with respect to a requested borrowing or conversion that has not yet occurred shall be deemed to be rescinded by Borrower.
Appears in 1 contract
Samples: Revolving Line of Credit Agreement (Hawaiian Telcom Holdco, Inc.)
LIBOR Rate Loans After Default. Unless the Required Requisite Lenders shall otherwise agree in writing, after the occurrence and during the continuance of an Unmatured Event of Default or an Event of Default, Borrower may not elect to have a Loan be made or continued as, or converted to, a LIBOR Rate Loan after the expiration of any Interest Period then in effect for that Loan.
Appears in 1 contract
LIBOR Rate Loans After Default. Unless the Required Lenders Lender shall otherwise agree in writing, after the occurrence and during the continuance of an Unmatured Event of Default or an Event of Default, Borrower may not elect to have a Loan be made or continued as, or converted to, a LIBOR Rate Loan after the expiration of any Interest Period then in effect for that Loan.
Appears in 1 contract
LIBOR Rate Loans After Default. Unless the Required Lenders Lender shall otherwise agree in writingagree, after the occurrence of and during the continuance of an Unmatured Event of a Default or an Event of Default, Borrower may not elect to have a Loan be made or continued as, or converted to, a LIBOR Rate Loan after the expiration of any Interest Period then in effect for that Loan.
Appears in 1 contract
Samples: Loan and Security Agreement (Advanced Logic Research Inc)
LIBOR Rate Loans After Default. Unless the Required Lenders Lender shall otherwise agree in writing, after occurrence and during the continuance of an Unmatured Event of Default or an Event of Default, Borrower the Funds Administrator may not elect to have a Loan be made or continued as, or converted to, a LIBOR Rate Loan after the expiration of any Interest Period then in effect for that Loan.
Appears in 1 contract
Samples: Secured Credit Agreement (Diplomat Direct Marketing Corp)
LIBOR Rate Loans After Default. Unless After the Required Lenders shall otherwise agree in writing, after occurrence of and during the continuance of an Unmatured Event of Default or an Event of Default, the Borrower may not elect to have a Loan Credit Advance be made or continued as, or converted to, a LIBOR Rate Loan after the expiration of any Interest Period then in effect for that Loansuch Credit Advance.
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LIBOR Rate Loans After Default. Unless the Required Lenders Lender shall otherwise agree in writing, after occurrence and during the continuance of an Unmatured Event of Default or an Event of Default, Borrower Borrowers may not elect to have a Loan be made or continued as, or converted to, a LIBOR Rate Loan after the expiration of any Interest Period then in effect for that Loan.
Appears in 1 contract
