Common use of Prime Clause in Contracts

Prime. based Advance in Absence of Election or Upon Default. If, as to any outstanding Eurocurrency-based Advance, Agent has not received payment on the last day of the Interest Period applicable thereto, or does not receive a timely Request for Revolving Credit Advance meeting the requirements of Section 2.3 hereof with respect to the refunding or conversion of such Advance, or, subject to Section 5.6 hereof, if on such day a Default or Event of Default shall exist, the principal amount thereof which is not then prepaid shall be converted automatically to a Prime-based Advance and the Agent shall thereafter promptly notify Company of said action.

Prime. based Advance in Absence of Election or Upon Default. If, as to any outstanding EurocurrencyEurodollar-based Advance, Agent has not received payment on the last day of the Interest Period applicable thereto, or does not receive a timely Request for Revolving Credit Advance meeting the requirements of Section 2.3 2.7 hereof with respect to the refunding or conversion of such Advance, or, subject to Section 5.6 2.6 hereof, if on such day a Default or Event of Default shall exist, the principal amount thereof which is not then prepaid shall be converted automatically to a Prime-based Advance and the Agent shall thereafter promptly notify Company of said action.

Prime. based Advance in Absence of Election or Upon Default. If, as to any outstanding Eurocurrency-based Advance, Agent has not received payment on the last day of the Interest Period applicable thereto, or does not receive a timely Request for Revolving Credit Advance meeting the requirements of Section 2.3 hereof with respect to the refunding or conversion of such Advance, or, subject to Section 5.6 6.6 hereof, if on such day a Default or Event of Default shall exist, the principal amount thereof which is not then prepaid shall be converted automatically to a Prime-based Advance and the Agent shall thereafter promptly notify Company of said action.

Prime. based Advance in Absence of Election or Upon Default. If, as to any outstanding Eurocurrency-based Advance, Agent has not received payment on the last day of the Interest Period applicable thereto, or does not receive a timely Request for Revolving Credit Advance meeting the requirements of Section 2.3 hereof with respect to the refunding or conversion of such Advance, or, subject to Section 5.6 5.5 hereof, if on such day a Default or Event of Default shall existhave occurred and be continuing, the principal amount thereof which is not then prepaid shall be converted automatically to a Prime-based Advance and the Agent shall thereafter promptly notify Company and the Banks of said action.

Prime. based Advance in Absence of Election or Upon Default. If, (a) as to any outstanding Eurocurrency-based AdvanceAdvance of the Line of Credit, Agent has not received payment on the last day of the Interest Period applicable thereto, or does not receive a timely Request for Revolving Credit Advance meeting the requirements of Section 2.3 hereof with respect to the refunding or conversion of such Advance, oror (b) if any Advance denominated in an Alternative Currency cannot be refunded or made, subject to Section 5.6 hereofas the case may be, if on such day a Default or Event of Default shall exist, the principal amount thereof which is not then prepaid shall be converted automatically to a Prime-based Advance and the Agent shall thereafter promptly notify Company of said action.in such

Prime. based Advance in Absence of Election or Upon Default. If, as to any outstanding EurocurrencyEurodollar-based Advance, Agent has not received payment on the last day of the Interest Period applicable thereto, or does not receive a timely Request for Revolving Credit Advance meeting the requirements of Section 2.3 2.7 hereof with respect to the refunding or conversion of such Revolving Credit Advance, or, subject to Section 5.6 2.6 hereof, if on such day a an Event of Default or event which, with notice or lapse of time or both, would constitute an Event of Default shall existhave occurred and be continuing, the principal amount thereof which is not then prepaid shall be converted automatically to a Prime-based Advance of the Revolving Credit and the Agent shall thereafter promptly notify Company of said action.