Common use of Multicurrency Revolving Loans and Unpaid Drawings Clause in Contracts

Multicurrency Revolving Loans and Unpaid Drawings. (i) On the date of the occurrence of a Re-Denomination Event, automatically (and without the taking of any action), (i) all then outstanding Multicurrency Revolving Loans denominated in an Alternative Currency, all Multicurrency European Swing Line Loans and all Unpaid Drawings in respect of Multicurrency Letters of Credit issued for the account of any Borrower owed in an Alternative Currency, shall be automatically converted into Multicurrency Revolving Loans (or Multicurrency U.S. Swing Line Loans, as applicable) maintained in, and Unpaid Drawing in respect of Multicurrency Letters of Credit owing by such Borrower in, Dollars (in an amount equal to the Dollar Equivalent of the aggregate principal amount of the respective Multicurrency Revolving Loans, Multicurrency European Swing Line Loans or Unpaid Drawings in respect of Multicurrency Letters of Credit on the date such Re-Denomination Event first occurred, which Multicurrency Revolving Loans, Multicurrency European Swing Line Loans or Unpaid Drawings in respect of Multicurrency Letters of Credit (x) shall continue to be owed by such Borrower, (y) shall at all times thereafter be deemed to be Base Rate Loans and (z) shall be immediately due and payable on the date such Re-Denomination Event has occurred) and (ii) all principal, accrued and unpaid interest and other amounts owing with respect to such Multicurrency Revolving Loans, Multicurrency European Swing Line Loans and Unpaid Drawings in respect of Multicurrency Letters of Credit shall be immediately due and payable in Dollars, taking the Dollar Equivalent of such principal amount, accrued and unpaid interest and other amounts. The occurrence of any conversion of Multicurrency Revolving Loans, Multicurrency European Swing Line Loans or Unpaid Drawings in respect of Multicurrency Letters of Credit to Base Rate Loans as provided above in this Section 2.16(a) shall be deemed to constitute, for purposes of Section 3.5, a prepayment 156 of Multicurrency Revolving Loans, Multicurrency European Swing Line Loans before the last day of any Interest Period relating thereto.

Appears in 1 contract

Samples: Credit Agreement (BALL Corp)

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Multicurrency Revolving Loans and Unpaid Drawings. (i) On the date of the occurrence of a Re-Denomination Event, automatically (and without the taking of any action), (i) all then outstanding Multicurrency Revolving Loans denominated in an Alternative Currency, all Multicurrency European Swing Line Loans Currency and all Unpaid Drawings in respect of Multicurrency Letters of Credit issued for the account of any Borrower owed in an Alternative Currency, shall be automatically converted into Multicurrency Revolving Loans (or Multicurrency U.S. Swing Line Loans, as applicable) maintained in, and Unpaid Drawing in respect of Multicurrency Letters of Credit owing by such Borrower in, Dollars (in an amount equal to the Dollar Equivalent of the aggregate principal amount of the respective Multicurrency Revolving Loans, Multicurrency European Swing Line Loans or Unpaid Drawings in respect of Multicurrency Letters of Credit on the date such Re-Denomination Event first occurred, which Multicurrency Revolving Loans, Multicurrency European Swing Line Loans or Unpaid Drawings in respect of Multicurrency Letters of Credit (x) shall continue to be owed by such Borrower, (y) shall at all times thereafter be deemed to be Base Rate Loans and (z) shall be immediately due and payable on the date such Re-Denomination Event has occurred) and (ii) all principal, accrued and unpaid interest and other amounts owing with respect to such Multicurrency Revolving Loans, Multicurrency European Swing Line Loans and Unpaid Drawings in respect of Multicurrency Letters of Credit shall be immediately due and payable in Dollars, taking the Dollar Equivalent of such principal amount, accrued and unpaid interest and other amounts. The occurrence of any conversion of Multicurrency Revolving Loans, Multicurrency European Swing Line Loans or Unpaid Drawings in respect of Multicurrency Letters of Credit to Base Rate Loans as provided above in this Section 2.16(a) shall be deemed to constitute, for purposes of Section 3.5, a prepayment 156 of Multicurrency Revolving Loans, Multicurrency European Swing Line Loans before the last day of any Interest Period relating thereto.

Appears in 1 contract

Samples: Credit Agreement (Ball Corp)

Multicurrency Revolving Loans and Unpaid Drawings. (i) On the date of the occurrence of a Re-Denomination Event, automatically (and without the taking of any action), (iA) all then outstanding Multicurrency Revolving Credit Loans denominated in an Alternative Currency, all Multicurrency European Swing Line Loans Currency and all Unpaid Drawings Unreimbursed Amounts and/or L/C Borrowings in respect of Multicurrency Letters of Credit issued for the account of any Borrower owed in an Alternative Currency, shall be automatically converted into Multicurrency Revolving Credit Loans (or Multicurrency U.S. Swing Line Loans, as applicable) maintained in, and Unpaid Drawing in respect of Multicurrency Letters of Credit Unreimbursed Amounts and/or L/C Borrowings owing by such Borrower in, U.S. Dollars (in an amount equal to the U.S. Dollar Equivalent of the aggregate principal amount of the respective Multicurrency Revolving Loans, Multicurrency European Swing Line Loans or Unpaid Drawings in respect of Multicurrency Letters of Credit Unreimbursed Amounts and/or L/C Borrowings on the date such Re-Denomination Event first occurred, which Multicurrency Revolving Loans, Multicurrency European Swing Line Credit Loans or Unpaid Drawings in respect of Multicurrency Letters of Credit Unreimbursed Amounts and/or L/C Borrowings (x) shall continue to be owed by such Borrower, (y) shall at all times thereafter be deemed to be Base Rate ABR Loans and (z) shall be immediately due and payable on the date such Re-Denomination Event has occurred) and (iiB) all principal, accrued and unpaid interest and other amounts owing with respect to such Multicurrency Revolving Loans, Multicurrency European Swing Line Credit Loans and Unpaid Drawings in respect of Multicurrency Letters of Credit Unreimbursed Amounts and/or L/C Borrowings shall be immediately due and payable in U.S. Dollars, taking the U.S. Dollar Equivalent of such principal amount, accrued and unpaid interest and other amounts. The occurrence of any conversion of Multicurrency Revolving Loans, Multicurrency European Swing Line Credit Loans or Unpaid Drawings in respect of Multicurrency Letters of Credit Unreimbursed Amounts and/or L/C Borrowings to Base Rate ABR Loans as provided above in this Section 2.16(a2.18(a) shall be deemed to constitute, for purposes of Section 3.53.05, a prepayment 156 of Multicurrency Revolving Loans, Multicurrency European Swing Line Credit Loans before the last day of any Interest Period relating thereto.

Appears in 1 contract

Samples: Credit Agreement (WisdomTree Investments, Inc.)

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Multicurrency Revolving Loans and Unpaid Drawings. (i) On i)On the date of the occurrence of a Re-Denomination Event, automatically (and without the taking of any action), (i) all then outstanding Multicurrency Revolving Loans denominated in an Alternative Currency, all Multicurrency European Swing Line Loans and all Unpaid Drawings in respect of Multicurrency Letters of Credit issued for the account of any Borrower owed in an Alternative Currency, shall be automatically converted into Multicurrency Revolving Loans (or Multicurrency U.S. Swing Line Loans, as applicable) maintained in, and Unpaid Drawing in respect of Multicurrency Letters of Credit owing by such Borrower in, Dollars (in an amount equal to the Dollar Equivalent of the aggregate principal amount of the respective Multicurrency Revolving Loans, Multicurrency European Swing Line Loans or Unpaid Drawings in respect of Multicurrency Letters of Credit on the date such Re-Denomination Event first occurred, which Multicurrency Revolving Loans, Multicurrency European Swing Line Loans or Unpaid Drawings in respect of Multicurrency Letters of Credit (x) shall continue to be owed by such Borrower, (y) shall at all times thereafter be deemed to be Base Rate Loans and (z) shall be immediately due and payable on the date such Re-Denomination Event has occurred) and (ii) all principal, accrued and unpaid interest and other amounts owing with respect to such Multicurrency Revolving Loans, Multicurrency European Swing Line Loans and Unpaid Drawings in respect of Multicurrency Letters of Credit shall be immediately due and payable in Dollars, taking the Dollar Equivalent of such principal amount, accrued and unpaid interest and other amounts. The occurrence of any conversion of Multicurrency Revolving Loans, Multicurrency European Swing Line Loans or Unpaid Drawings in respect of Multicurrency Letters of Credit to Base Rate Loans as provided above in this Section 2.16(a) shall be deemed to constitute, for purposes of Section 3.5, a prepayment 156 of Multicurrency Revolving Loans, Multicurrency European Swing Line Loans before the last day of any Interest Period relating thereto.

Appears in 1 contract

Samples: Credit Agreement (BALL Corp)

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