Common use of Prime Loans Substituted for Affected LIBOR Loans Clause in Contracts

Prime Loans Substituted for Affected LIBOR Loans. If notice has been given by a Bank pursuant to Sections 2.11 or 2.12 or by Borrower pursuant to Section 2.13 requiring LIBOR Loans of any Bank to be repaid, then, unless and until such Bank notifies Borrower that the circumstances giving rise to such repayment no longer apply, all Loans which would otherwise be made by such Bank to Borrower as LIBOR Loans shall be made instead as Prime Loans. Such Bank shall promptly notify Borrower if and when the circumstances giving rise to such repayment no longer apply.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Huntco Inc), Revolving Credit Agreement (Huntco Inc)

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Prime Loans Substituted for Affected LIBOR Loans. If notice has been given by a Bank Lender pursuant to Sections 2.11 2.13 or 2.12 2.14 or by Borrower pursuant to Section 2.13 2.15 requiring the LIBOR Loans of any Bank to be repaid, then, unless and until such Bank notifies Borrower that the circumstances giving rise to such repayment no longer apply, all Revolving Credit Loans which would otherwise be made by such Bank Lender to Borrower as LIBOR Loans shall be made instead as Prime Loans. Such Bank Lender shall promptly notify Borrower if and when the circumstances giving rise to such repayment no longer apply.

Appears in 1 contract

Samples: Loan Agreement (Interlott Technologies Inc)

Prime Loans Substituted for Affected LIBOR Loans. If notice has been given by a Bank pursuant to Sections 2.11 2.14 or 2.12 or by Borrower pursuant to Section 2.13 requiring LIBOR Loans of any Bank to be repaid, 2.15 then, unless and until such Bank notifies Borrower that the circumstances giving rise to such repayment no longer apply, all Loans which would otherwise be made by such Bank to Borrower as LIBOR Loans shall be made instead as Prime Loans. Such Bank shall promptly notify Borrower if and when the circumstances giving rise to such repayment no longer apply.

Appears in 1 contract

Samples: Revolving Credit Agreement (Cpi Corp)

Prime Loans Substituted for Affected LIBOR Loans. If notice has been given by a Bank Lender pursuant to Sections 2.11 or 2.12 or by Borrower pursuant to Section 2.13 2.04 requiring LIBOR Loans of any Bank to be repaidrepaid or converted to Prime Loans, then, unless and until such Bank Lender notifies Borrower that the circumstances giving rise to such repayment or conversion no longer apply, all any portion of the Loans which that would otherwise be made by such Bank Lender to Borrower as LIBOR Loans shall be made instead as Prime Loans. Such Bank Lender shall promptly notify Borrower if and when the circumstances giving rise to such repayment no longer apply.

Appears in 1 contract

Samples: Revolving Credit Agreement (Laclede Group Inc)

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Prime Loans Substituted for Affected LIBOR Loans. If notice has been given by a Bank pursuant to Sections 2.11 or 2.12 or by Borrower pursuant to Section 2.13 requiring LIBOR Loans of any Bank to be repaid, then, unless and until such Bank notifies the Administrative Agent and Borrower that the circumstances giving rise to such repayment no longer apply, all Loans which would otherwise be made by such Bank to Borrower as LIBOR Loans shall be made instead as Prime Loans. Such Bank shall promptly notify the Administrative Agent and Borrower if and when the circumstances giving rise to such repayment no longer apply.

Appears in 1 contract

Samples: Loan Agreement (Laclede Gas Co)

Prime Loans Substituted for Affected LIBOR Loans. If notice has been given by a Bank pursuant to Sections 2.11 Section 3.9 or 2.12 3.10 or by Borrower Borrowers pursuant to Section 2.13 3.11(b) requiring LIBOR Loans of any Bank to be repaid, then, unless and until such Bank notifies Borrower Borrowers that the circumstances giving rise to such repayment no longer apply, all Loans which would otherwise be made by such Bank to Borrower Borrowers as LIBOR Loans shall be made instead as Prime Loans. Such Bank shall promptly notify Borrower Borrowers if and when the circumstances giving rise to such repayment no longer apply.

Appears in 1 contract

Samples: Credit Agreement (Virbac Corp)

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