Common use of Special Provisions Applicable to Lenders Upon the Occurrence of a Sharing Event Clause in Contracts

Special Provisions Applicable to Lenders Upon the Occurrence of a Sharing Event. (a) On the date of the occurrence of a Sharing Event, automatically (and without the taking of any action) (x) all then outstanding Euro Denominated Loans, all Unpaid Drawings in respect of Letters of Credit issued for either Borrower's account owed in Euros and all Unreimbursed Payments in respect of Bank Guaranties issued for the Bermuda Borrower's account owed in Euros, shall be automatically converted into Loans of the respective Tranche maintained in, Unpaid Drawings of the respective Tranche owing in, or Unreimbursed Payments owing in, Dollars (in an amount equal to the Dollar Equivalent of the aggregate principal amount of the respective Loans, Unpaid Drawings or Unreimbursed Payments on the date such Sharing Event first occurred, which Loans, Unpaid Drawings and Unreimbursed Payments (i) shall continue to be owed by the U.S. Borrower or the Bermuda Borrower, as the case may be, (ii) shall at all times thereafter be deemed to be Base Rate Loans and (iii) shall be immediately due and payable on the date such Sharing Event has occurred) and (y) all principal, accrued and unpaid interest and other amounts owing with respect to such Euro Denominated Loans, Unpaid Drawings and Unreimbursed Payments shall be immediately due and payable in Dollars, taking the Dollar Equivalent of such principal, accrued and unpaid interest and other amounts. The occurrence of any conversion of Euro Denominated Loans, Unpaid Drawing or Unreimbursed Payments to Base Rate Loans as provided above in this Section 1.14(a) shall be deemed to constitute, for purposes of Section 1.11, a prepayment of Loans before the last day of any Interest Period relating thereto.

Special Provisions Applicable to Lenders Upon the Occurrence of a Sharing Event. (a) On the date of the occurrence of a Sharing Event, automatically (and without the taking of any action) (x) all then outstanding Euro Non-Dollar Denominated Loans, all Unpaid Drawings in respect of Letters of Credit issued for either Borrower's account owed in Euros and all Unreimbursed Payments in respect of Bank Guaranties issued for the Bermuda Borrower's account owed in Euros, shall be automatically converted into Loans of the respective Tranche maintained in, Unpaid Drawings of the respective Tranche owing in, or Unreimbursed Payments owing in, Dollars (in an amount equal to the Dollar Equivalent of the aggregate principal amount of the respective Loans, Unpaid Drawings or Unreimbursed Payments on the date such Sharing Event first occurred, which Loans, Unpaid Drawings and Unreimbursed Payments (i) shall continue to be owed by the U.S. Borrower or the Bermuda Borrower, as the case may be, (ii) shall at all times thereafter be deemed to be Base Rate Loans and (iii) shall be immediately due and payable on the date such Sharing Event has occurred) and (y) all principal, accrued and unpaid interest and other amounts owing with respect to such Euro Non-Dollar Denominated Loans, Unpaid Drawings and Unreimbursed Payments shall be immediately due and payable in Dollars, taking the Dollar Equivalent of such principal, accrued and unpaid interest and other amounts. The occurrence of any conversion of Euro Non-Dollar Denominated Loans, Unpaid Drawing or Unreimbursed Payments to Base Rate Loans as provided above in this Section 1.14(a) shall be deemed to constitute, for purposes of Section 1.11, a prepayment of Loans before the last day of any Interest Period relating thereto.

Special Provisions Applicable to Lenders Upon the Occurrence of a Sharing Event. (a) On the date of the occurrence of a Sharing Event, automatically (and without the taking of any action) (x) all then outstanding Euro Denominated Offshore Currency Loans, all Unpaid Drawings Letter of Credit Advances in respect of Letters of Credit issued for either any Borrower's account owed in Euros an Offshore Currency and all payments or disbursements made by a Canadian Lender under any Bankers' Acceptance or BA Equivalent Loan issued by it (each such amount so paid until reimbursed, an "Unreimbursed Payments Payment") in respect of Bank Guaranties Bankers' Acceptances or BA Equivalent Loans issued for the Bermuda BorrowerCanadian Subsidiary's account owed in EurosCanadian Dollars, shall be automatically converted into Loans of the respective Tranche maintained in, Unpaid Drawings Letter of Credit Advances of the respective Tranche owing in, or Unreimbursed Payments owing in, U.S. Dollars (in an amount equal to the Dollar Equivalent Amount of the aggregate principal amount of the respective Offshore Currency Loans, Unpaid Drawings Letter of Credit Advances or Unreimbursed Payments on the date such Sharing Event first occurred, which Offshore Currency Loans, Unpaid Drawings Letter of Credit Advances and Unreimbursed Payments (i) shall continue to be owed by the U.S. Borrower or the Bermuda BorrowerBorrowers, as the case may be, (ii) shall at all times thereafter be deemed to be Base Rate Loans and (iii) shall be immediately due and payable on the date such Sharing Event has occurred) and (y) all principal, accrued and unpaid interest and other amounts owing with respect to such Euro Denominated Offshore Currency Loans, Unpaid Drawings Letter of Credit Advances and Unreimbursed Payments shall be immediately due and payable in U.S. Dollars, taking the Dollar Equivalent Amount of such principal, accrued and unpaid interest and other amounts. The occurrence of any conversion of Euro Denominated Offshore Currency Loans, Unpaid Drawing Letter of Credit Advances or Unreimbursed Payments to Base Rate Loans as provided above in this Section 1.14(a2.15(a) shall be deemed to constitute, for purposes of Section 1.11Article 11, a prepayment of Loans before the last day of any Interest Period relating thereto.