Common use of LIBOR Rate Loans After Default Clause in Contracts

LIBOR Rate Loans After Default. From and after the occurrence and during the continuation of any Event of Default, upon election by Administrative Agent or Requisite Lenders, (i) Company may not elect to have a Loan be made or maintained as, or converted to, a LIBOR Rate Loan after the expiration of any Interest Period then in effect for that Loan and (ii) subject to the provisions of subsection 2.6D, any Notice of Borrowing or Notice of Conversion/Continuation given by Company with respect to a requested borrowing or conversion/continuation that has not yet occurred shall be deemed to be for a Base Rate Loan or, if the conditions to making a Loan set forth in subsection 4.1 cannot then be satisfied, to be rescinded by Company.

LIBOR Rate Loans After Default. From and after After the occurrence of and during the continuation of any a Potential Event of Default or an Event of Default, upon election by Administrative Agent or Requisite Lenders, (i) Company Borrower may not elect to have a Loan be made or maintained continued (beyond the applicable Interest Period therefor) as, or converted to, a LIBOR Rate Loan after the expiration of any Interest Period then in effect for that Loan and (ii) subject to the provisions of subsection 2.6D, any Notice of Borrowing or Notice of Conversion/Continuation given by Company Borrower with respect to a requested borrowing or conversion/continuation that has not yet occurred shall be deemed to be for a Base Rate Loan or, if the conditions to making a Loan set forth in subsection 4.1 cannot then be satisfied, to be rescinded by CompanyBorrower.

LIBOR Rate Loans After Default. From and after After the occurrence of and during the continuation of any a Potential Event of Default or an Event of Default, upon election by Administrative Agent or Requisite Lenders, (i) Company Borrower may not elect to have a Loan be made or maintained as, or converted to, a LIBOR Rate Loan after the expiration of any Interest Period then in effect for that Loan and (ii) subject to the provisions of subsection 2.6D, any Notice of Borrowing or Notice of Conversion/Continuation given by Company Borrower with respect to a requested borrowing or conversion/continuation that has not yet occurred shall be deemed to be for a Base Rate Loan or, if the conditions to making a Loan set forth in subsection 4.1 4.3 cannot then be satisfied, to be rescinded by CompanyBorrower.

LIBOR Rate Loans After Default. From and after After the occurrence of and during the continuation of any a Potential Event of Default or an Event of Default, upon election by Administrative Agent or if the Requisite LendersLenders shall require, (i) Company Borrower may not elect to have a Loan be made or maintained as, or converted to, a LIBOR Rate Loan after the expiration of any Interest Period then in effect for that Loan and (ii) subject to the provisions of subsection 2.6D, any Notice of Borrowing or Notice of Conversion/Continuation given by Company Borrower with respect to a requested borrowing or conversion/continuation that has not yet occurred shall be deemed to be for a Base Rate Loan or, if the conditions to making a Loan set forth in subsection 4.1 4.2 cannot then be satisfied, to be rescinded by CompanyBorrower.

LIBOR Rate Loans After Default. From and after After the occurrence of and during the continuation of any an Event of Default, upon election by Administrative Agent or Requisite Lenders, (i) Company Borrower may not elect to have a Loan be made or maintained as, or converted to, a LIBOR Rate Loan after the expiration of any Interest Period then in effect for that Loan and (ii) subject to the provisions of subsection 2.6D, any Notice of Borrowing or Notice of Conversion/Continuation given by Company Borrower with respect to a requested borrowing or conversion/continuation that has not yet occurred shall be deemed to be for a Base Rate Loan or, if the conditions to making a Loan set forth in subsection 4.1 4.2 cannot then be satisfied, to be rescinded by CompanyBorrower.

LIBOR Rate Loans After Default. From and after After the occurrence of and during the continuation of any a Default (if requested by Required Lenders) or an Event of Default, upon election by Administrative Agent or Requisite Lenders, (i) Company Borrower may not elect to have a Loan be made or maintained as, or converted to, a LIBOR Rate Loan after the expiration of any Interest Period then in effect for that Loan and (ii) subject to the provisions of subsection 2.6D, any Notice of Borrowing or Notice of Conversion/Continuation given by Company Borrower with respect to a requested borrowing or conversion/continuation that has not yet occurred shall be deemed to be for a Base Rate Loan or, if the conditions to making a Loan set forth in subsection 4.1 4.2 cannot then be satisfied, to be rescinded by CompanyBorrower.