Common use of Mandatory Suspension and Conversion of LIBOR Loans Clause in Contracts

Mandatory Suspension and Conversion of LIBOR Loans. A Bank's obligations to make, maintain or convert into LIBOR Loans of any type shall be suspended, all such Bank's outstanding Loans of that type shall be converted on the last day of their applicable Interest Periods (or, if earlier, in the case of clause (c) below, on the last day such Bank may lawfully continue to maintain Loans of that type or, in the case of clause (d) below, on the day determined by such Bank to be the last Business Day or LIBOR Business Day, as the case may be, before the effective date of the applicable restriction) into, and all pending requests for the making of or conversion into Loans of such type by such Bank shall be deemed requests for, Base Rate Loans, if and so long as:

Appears in 1 contract

Samples: Credit Agreement (Yankee Energy System Inc)

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Mandatory Suspension and Conversion of LIBOR Loans. A Bank's obligations The Lenders' obligation to make, maintain continue or convert into LIBOR Loans of any type Type shall be suspended, all such Bank's Lenders' outstanding Loans of that type such Type shall be converted into Base Rate Loans on the last day of their applicable Interest Periods (or, if earlier, in the case of clause (ciii) below, on the last day such Bank the Lenders may lawfully continue to maintain Loans of that type such Type or, in the case of clause (div) below, on the day determined by such Bank the Agent to be the last Business Day or LIBOR Business Day, as the case may be, before the effective date of the applicable restriction) into, and all pending requests for the making or continuation of or conversion into Loans of such type Type by such Bank the Agent shall be deemed requests for, for Base Rate Loans, if and so long asif:

Appears in 1 contract

Samples: Revolving Credit Agreement (Dingley Press, Inc.)

Mandatory Suspension and Conversion of LIBOR Loans. A Bank's obligations The Lenders’ obligation to make, maintain continue or convert into LIBOR Loans of any type Type shall be suspended, all such Bank's Lenders’ outstanding Loans of that type such Type shall be converted into Base Rate Loans on the last day of their applicable Interest Periods (or, if earlier, in the case of clause (ciii) below, on the last day such Bank the Lenders may lawfully continue to maintain Loans of that type such Type or, in the case of clause (div) below, on the day determined by such Bank the Agent to be the last Business Day or LIBOR Business Day, as the case may be, before the effective date of the applicable restriction) into, and all pending requests for the making or continuation of or conversion into Loans of such type Type by such Bank the Agent shall be deemed requests for, for Base Rate Loans, if and so long asif:

Appears in 1 contract

Samples: Revolving Credit Agreement (Sheridan Group Inc)

Mandatory Suspension and Conversion of LIBOR Loans. A BankEach Lender's obligations to make, maintain continue or convert into LIBOR Loans of any type (or, as applicable, LIBOR Loans with a certain Interest Period) shall be suspended, and all such BankLender's outstanding Loans of that type such Type shall be converted into Base Rate Loans on the last day of their applicable Interest Periods (or, if earlier, in the case of clause (c) below, on the last day such Bank Lender may lawfully continue to maintain Loans of that type such Type or, in the case of clause (d) below, on the day determined by such Bank Lender to be the last Business Day or LIBOR Business Day, as the case may be, before the effective date of the applicable restriction) into), and all pending requests for the making or continuation of or conversion into Loans of such type Type by such Bank Lender shall be deemed requests for, for Base Rate Loans, if and so long asif:

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Adelphia Communications Corp)

Mandatory Suspension and Conversion of LIBOR Loans. A BankEach -------------------------------------------------- Lender's obligations to make, maintain continue or convert into LIBOR Loans of any type (or, as applicable, LIBOR Loans with a certain Interest Period) shall be suspended, and all such BankLender's outstanding Loans of that type such Type shall be converted into Base Rate Loans on the last day of their applicable Interest Periods (or, if earlier, in the case of clause (c) below, on the last day such Bank Lender may lawfully continue to maintain Loans of that type such Type or, in the case of clause (d) below, on the day determined by such Bank Lender to be the last Business Day or LIBOR Business Day, as the case may be, before the effective date of the applicable restriction) into), and all pending requests for the making or continuation of or conversion into Loans of such type Type by such Bank Lender shall be deemed requests for, for Base Rate Loans, if and so long asif:

Appears in 1 contract

Samples: Revolving Credit Agreement (Specialty Products & Insulation Co)

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Mandatory Suspension and Conversion of LIBOR Loans. A Bank's obligations The Lenders obligation to make, maintain continue or convert into LIBOR Loans of any type Type shall be suspended, suspended and all such Bank's Lenders outstanding Loans of that type such Type shall be converted into Base Rate Loans on the last day of their applicable Interest Periods (or, if earlier, in the case of clause (ciii) below, on the last day such Bank the Lenders may lawfully continue to maintain Loans Loans, of that type such Type or, in the case of clause (div) below, on the day determined by such Bank the Agent to be the last Business Day or LIBOR Business Day, as the case may be, before the effective date of the applicable restriction) into, and all pending requests for the making or continuation of or conversion into Loans of such type Type by such Bank the Agent shall be deemed requests for, for Base Rate Loans, if and so long asif:

Appears in 1 contract

Samples: Revolving Credit Agreement (Sl Industries Inc)

Mandatory Suspension and Conversion of LIBOR Loans. A Bank's obligations The Lender’s obligation to make, maintain continue or convert into LIBOR Loans of any type Type shall be suspended, all such Bank's Lender’s outstanding Loans of that type such Type shall be converted into Base Rate Loans on the last day of their applicable Interest Periods (or, if earlier, in the case of clause (ciii) below, on the last day such Bank Lender may lawfully continue to maintain Loans of that type such Type or, in the case of clause (div) below, on the day determined by such Bank the Lender to be the last Business Day or LIBOR Business Day, as the case may be, before the effective date of the applicable restriction) into, and all pending requests for the making or continuation of or conversion into Loans of such type Type by such Bank the Lender shall be deemed requests for, for Base Rate Loans, if and so long asif:

Appears in 1 contract

Samples: Revolving Credit Agreement (Sheridan Group Inc)

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