Common use of Rollover Option Clause in Contracts

Rollover Option. (a) The Borrower may, during the term of this Agreement, upon giving the Agent a Notice of Rollover in accordance with the same period of notice set out in Section 3.3 in respect of the type of Borrowing which is being rolled over, (i) Rollover any LIBOR Loan (on the last day of the applicable LIBOR Interest Period) to a new LIBOR Loan for a further LIBOR Interest Period, (ii) Rollover a Bankers’ Acceptance (on the maturity date of such Bankers’ Acceptance) or a BA Equivalent Loan (on the maturity date of such BA Equivalent Loan) into another Bankers’ Acceptance or BA Equivalent Loan (as the case may be) or (iii) Rollover any Letters of Credit (on or before the then current expiry date of such Letter of Credit) to an extended or replacement Letter of Credit. (b) The Discount Proceeds of the replacement Bankers’ Acceptances or BA Equivalent Loans (as the case may be) shall be retained by the Agent to be applied by it to: (i) the stamping fees payable pursuant to Section 5.4 in respect of the replacement Bankers’ Acceptances or BA Equivalent Loans (as the case may be); and (ii) the principal amount of the maturing Bankers’ Acceptance or BA Equivalent Loan (as the case may be); and the Borrower shall pay to the Agent, on the maturity date of the maturing Banker’s Acceptance or BA Equivalent Loan (as the case may be), an amount equal to the difference between: (iii) the aggregate of the principal amount at maturity of the maturing Bankers’ Acceptance or BA Equivalent Loan (as the case may be), and the stamping fees payable pursuant to Section 5.4 in respect of the replacement Bankers’ Acceptances or BA Equivalent Loans (as the case may be); and (iv) the Discount Proceeds of the replacement Banker’s Acceptances or BA Equivalent Loans (as the case may be). (c) Notices of Rollover to be given by the Borrower pursuant to this Section 3.9 shall be substantially in the form of Schedule “D” together with, in the case of a Rollover of a Borrowing by way of Bankers’ Acceptances (or BA Equivalent Loans in lieu thereof), Schedule “B”, and shall be given in the manner provided in Section 3.3; provided that any automatic extension of a Letter of Credit which occurs pursuant to its terms and without any further act on the part of the Fronting Bank shall not require delivery of a Notice of Rollover.

Rollover Option. (a) The Borrower may, during the term of this Agreement, upon giving the Agent a Notice of Rollover in accordance with the same period of notice set out in Section 3.3 in respect of the type of Borrowing which is being rolled over, (i) Rollover any LIBOR Term BenchmarkCORRA Loan or SOFR Loan (on the last day of the applicable LIBOR Interest Period) to a new LIBOR Term BenchmarkCORRA Loan or SOFR Loan, as applicable, for a further LIBOR Interest Period, or (ii) Rollover a Bankers’ Acceptance (on the maturity date of such Bankers’ Acceptance) or a BA Equivalent Loan (on the maturity date of such BA Equivalent Loan) into another Bankers’ Acceptance or BA Equivalent Loan (as the case may be) or (iii) Rollover any Letters of Credit (on or before the then current expiry date of such Letter of Credit) to an extended or replacement Letter of Credit. (b) The Discount Proceeds of the replacement Bankers’ Acceptances or BA Equivalent Loans (as the case may be) shall be retained by the Agent to be applied by it to: (i) the stamping fees payable pursuant to Section 5.4 in respect of the replacement Bankers’ Acceptances or BA Equivalent Loans (as the case may be); and (ii) the principal amount of the maturing Bankers’ Acceptance or BA Equivalent Loan (as the case may be); and the Borrower shall pay to the Agent, on the maturity date of the maturing Banker’s Acceptance or BA Equivalent Loan (as the case may be), an amount equal to the difference between: (iii) the aggregate of the principal amount at maturity of the maturing Bankers’ Acceptance or BA Equivalent Loan (as the case may be), and the stamping fees payable pursuant to Section 5.4 in respect of the replacement Bankers’ Acceptances or BA Equivalent Loans (as the case may be); and (iv) the Discount Proceeds of the replacement Banker’s Acceptances or BA Equivalent Loans (as the case may be). (c) Notices of Rollover to be given by the Borrower pursuant to this Section 3.9 3.97 shall be substantially in the form of Schedule “D” together with, in the case of a Rollover of a Borrowing by way of Bankers’ Acceptances (or BA Equivalent Loans in lieu thereof), Schedule “B”, B”,C” and shall be given in the manner provided in Section 3.3; provided that any automatic extension of a Letter of Credit which occurs pursuant to its terms and without any further act on the part of the Fronting Bank shall not require delivery of a Notice of Rollover.

Rollover Option. (a) The Borrower may, during the term of this Agreement, upon giving the Agent a Notice of Rollover in accordance with the same period of notice set out in Section 3.3 in respect of the type of Borrowing which is being rolled over, (i) Rollover any LIBOR Term Benchmark Loan (on the last day of the applicable LIBOR Interest Period) to a new LIBOR Term Benchmark Loan for a further LIBOR Interest Period, (ii) Rollover a Bankers’ ' Acceptance (on the maturity date of such Bankers’ ' Acceptance) or a BA Equivalent Loan (on the maturity date of such BA Equivalent Loan) into another Bankers’ ' Acceptance or BA Equivalent Loan (as the case may be) or (iii) Rollover any Letters of Credit (on or before the then current expiry date of such Letter of Credit) to an extended or replacement Letter of Credit. (b) The Discount Proceeds of the replacement Bankers’ ' Acceptances or BA Equivalent Loans (as the case may be) shall be retained by the Agent to be applied by it to: (i) the stamping fees payable pursuant to Section 5.4 in respect of the replacement Bankers’ ' Acceptances or BA Equivalent Loans (as the case may be); and (ii) the principal amount of the maturing Bankers’ ' Acceptance or BA Equivalent Loan (as the case may be); and the Borrower shall pay to the Agent, on the maturity date of the maturing Banker’s 's Acceptance or BA Equivalent Loan (as the case may be), an amount equal to the difference between: (iii) the aggregate of the principal amount at maturity of the maturing Bankers’ ' Acceptance or BA Equivalent Loan (as the case may be), and the stamping fees payable pursuant to Section 5.4 in respect of the replacement Bankers’ ' Acceptances or BA Equivalent Loans (as the case may be); and (iv) the Discount Proceeds of the replacement Banker’s 's Acceptances or BA Equivalent Loans (as the case may be). (c) Notices of Rollover to be given by the Borrower pursuant to this Section 3.9 shall be substantially in the form of Schedule “"D” " together with, in the case of a Rollover of a Borrowing by way of Bankers’ ' Acceptances (or BA Equivalent Loans in lieu thereof), Schedule “"B”", and shall be given in the manner provided in Section 3.3; provided that any automatic extension of a Letter of Credit which occurs pursuant to its terms and without any further act on the part of the Fronting Bank shall not require delivery of a Notice of Rollover.