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 any Bank pursuant to Section 3.6 or 3.7 or by the Borrower pursuant to Section 3.8 requiring LIBOR Loans to be repaid or converted, then, unless and until such Bank notifies the Borrower that the circumstances giving rise to such repayment or conversion no longer apply, all Revolving Credit Loans which would otherwise be made by such Bank to the Borrower as LIBOR Loans shall be made instead as Prime Loans. Any such Bank shall promptly notify the Borrower if and when the circumstances giving rise to such repayment no longer apply. All indemnities and all provisions relating to reimbursement to any Bank of amounts sufficient to protect the yield to such Bank with respect to the Revolving Credit Loans, including, without limitation, Sections 3.5, 3.6, 3.7 and 3.8 hereof, shall survive the payment of the Notes and the termination of this Agreement for the period specified in such Sections.

Appears in 1 contract

Samples: Credit Agreement (Shaw Group Inc)

AutoNDA by SimpleDocs

Prime Loans Substituted for Affected LIBOR Loans. If notice has been given by any Bank Lender pursuant to Section 3.6 or 3.7 or by the Borrower pursuant to Section 3.8 requiring LIBOR Loans to be repaid or converted, then, unless and until such Bank Lender notifies the Borrower that the circumstances giving rise to such repayment or conversion no longer apply, all Revolving Credit Loans which would otherwise be made by such Bank Lender to the Borrower as LIBOR Loans shall be made instead as Prime Loans. Any such Bank Lender shall promptly notify the Borrower if and when the circumstances giving rise to such repayment no longer apply. All indemnities and all provisions relating to reimbursement to any Bank Lender of amounts sufficient to protect the yield to such Bank Lender with respect to the Revolving Credit Loans, including, without limitation, Sections 3.5, 3.6, 3.7 3.7, and 3.8 hereof, shall survive the payment of the Notes and the termination of this Agreement for the period specified in such SectionsAgreement.

Appears in 1 contract

Samples: Credit Agreement (Staffmark Inc)

Prime Loans Substituted for Affected LIBOR Loans. If notice has been given by any Bank Lender pursuant to Section 3.6 3.7 or 3.7 3.8 or by the Borrower pursuant to Section 3.8 3.9 requiring LIBOR Loans to be repaid or converted, then, unless and until such Bank Lender notifies the Borrower that the circumstances giving rise to such repayment or conversion no longer apply, all Revolving Credit Loans which would otherwise be made by such Bank Lender to the Borrower as LIBOR Loans shall be made instead as Prime Loans. Any such Bank Lender shall promptly notify the Borrower if and when the circumstances giving rise to such repayment no longer apply. All indemnities and all provisions relating to reimbursement to any Bank Lender of amounts sufficient to protect the yield to such Bank Lender with respect to the Revolving Credit Loans, including, without limitation, Sections 3.5, 3.6, 3.7 3.7, 3.8 and 3.8 3.9 hereof, shall survive the payment of the Notes and the termination of this Agreement for the period specified in such SectionsAgreement.

Appears in 1 contract

Samples: Credit Agreement (Staffmark Inc)

Prime Loans Substituted for Affected LIBOR Loans. If ------------------------------------------------ notice has been given by any Bank Lender pursuant to Section 3.6 3.10 or 3.7 3.11 or by the Borrower Borrowers pursuant to Section 3.8 3.12 requiring LIBOR Loans to be repaid or converted, then, unless and until such Bank Lender notifies the Borrower Borrowers that the circumstances giving rise to such repayment or conversion no longer apply, all Revolving Credit Loans which would otherwise be made by such Bank Lender to the Borrower Borrowers as LIBOR Loans shall be made instead as Prime Loans. Any such Bank Lender shall promptly notify the Borrower Borrowers if and when the circumstances giving rise to such repayment no longer apply. All indemnities and all provisions relating to reimbursement to any Bank Lender of amounts sufficient to protect the yield to such Bank Lender with respect to the Revolving Credit Loans, including, without limitation, Sections 3.53.9, 3.63.10, 3.7 3.11 and 3.8 3.12 hereof, shall survive the payment of the Notes and the termination of this Agreement for the period specified in such SectionsAgreement.

Appears in 1 contract

Samples: Credit Agreement (Zoltek Companies Inc)

AutoNDA by SimpleDocs

Prime Loans Substituted for Affected LIBOR Loans. If notice has been given by any Bank Lender pursuant to Section 3.6 3.9 or 3.7 ----------- 3.10 or by the Borrower Borrowers pursuant to Section 3.8 3.11 requiring LIBOR ---- ------------ Loans to be repaid or converted, then, unless and until such Bank Lender notifies the Borrower Borrowers that the circumstances giving rise to such repayment or conversion no longer apply, all Revolving Credit Loans which would otherwise be made by such Bank Lender to the Borrower Borrowers as LIBOR Loans shall be made instead as Prime Loans. Any such Bank Lender shall promptly notify the Borrower Borrowers if and when the circumstances giving rise to such repayment no longer apply. All indemnities and all provisions relating to reimbursement to any Bank Lender of amounts sufficient to protect the yield to such Bank Lender with respect to the Revolving Credit Loans, including, without limitation, Sections 3.53.8, 3.63.9, 3.7 3.10 and 3.8 3.11 hereof, shall survive the ------------ --- ---- ---- payment of the Notes and the termination of this Agreement for the period specified in such SectionsAgreement.

Appears in 1 contract

Samples: Credit Agreement (Zoltek Companies Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.