Common use of No Conversion Post-Default or Post-Unmatured Default Clause in Contracts

No Conversion Post-Default or Post-Unmatured Default. Notwithstanding anything to the contrary contained in Section 2.9(A) or Section 2.9(B), when any Default or Unmatured Default has occurred and is continuing, (i) no outstanding Loan denominated in Dollars may be converted into or continued as a Eurocurrency Rate Loan, (ii) unless repaid, each Eurocurrency Rate Loan denominated in Dollars shall be converted into a Floating Rate Loan at the end of the Interest Period applicable thereto and (iii) unless repaid, each Eurocurrency Rate Loan denominated in an Agreed Currency (other than Dollars) shall automatically be continued as a Eurocurrency Rate Loan with an Interest Period of one month.

Appears in 2 contracts

Samples: Credit Agreement (Steelcase Inc), Credit Agreement (Steelcase Inc)

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No Conversion Post-Default or Post-Unmatured Default. Notwithstanding anything to the contrary contained in Section 2.9(A2.10(A) or Section 2.9(B2.10(B), when any Default or Unmatured Default has occurred and is continuing, (i) no outstanding Loan denominated in Dollars may be converted into or continued as a Eurocurrency Rate Loan, (ii) unless repaid, each Eurocurrency Rate Loan denominated in Dollars shall be converted into a Floating Rate Loan at the end of the Interest Period applicable thereto and (iii) unless repaid, each Eurocurrency Rate Loan denominated in an Agreed Currency (other than Dollars) shall automatically be continued as a Eurocurrency Rate Loan with an Interest Period of one month.

Appears in 1 contract

Samples: Credit Agreement (Schawk Inc)

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No Conversion Post-Default or Post-Unmatured Default. Notwithstanding anything to the contrary contained in Section 2.9(A) or Section 2.9(B), when any Default or Unmatured Default has occurred and is continuing, (ix) no outstanding Floating Rate Loan denominated or Eurocurrency Rate Loan in Dollars may be converted into or continued as a Eurocurrency Rate Loan, Loan (iiexcept with the consent of the Required Lenders) unless repaid, each when any Default or Unmatured Default has occurred and is continuing and (y) no Eurocurrency Rate Loan denominated in Dollars shall be converted into a Floating Rate Loan at the end of the Interest Period applicable thereto and (iii) unless repaid, each Eurocurrency Rate Loan denominated in an Agreed Currency (other than Dollars) shall automatically Dollars may be converted into or continued as a Eurocurrency Rate Loan in an Agreed Currency other than Dollars with an Interest Period greater than one month (except with the consent of one monththe Required Lenders) when any Unmatured Default has occurred and is continuing.

Appears in 1 contract

Samples: Credit Agreement (Catalina Marketing Corp/De)

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