Common use of Substitute Prime Rate Loans Clause in Contracts

Substitute Prime Rate Loans. If the obligation of Bank to make LIBOR Loans shall be suspended pursuant to Sections 2.5(b), 2.5(c) or 2.5(f) hereof, all Loans which would otherwise be made by Bank as LIBOR Loans shall be made instead as Prime Rate Loans (and, if an event referred to in Sections 2.5(b), 2.5(c) or 2.5(f) hereof has occurred and Bank so requests by notice to Borrower, each LIBOR Loan of Bank then outstanding shall be automatically converted into a Prime Rate Loan on the date specified by Bank in such notice) and, to the extent that LIBOR Loans are so made as (or converted into) Prime Rate Loans, all payments of principal which would otherwise be applied to such LIBOR Loans shall be applied instead to such Prime Rate Loans.

Substitute Prime Rate Loans. If the obligation of Bank any Lender to make LIBOR Loans shall be suspended pursuant to Sections 2.5(b)Section 2.7, 2.5(c) 2.8 or 2.5(f) 2.9 hereof, all Revolving Line of Credit Loans which would otherwise be made by Bank such Lender as LIBOR Loans shall be made instead as Prime Rate Loans (and, if an event referred to in Sections 2.5(b), 2.5(cSection 2.7(b) or 2.5(f) hereof 2.9 has occurred and Bank such Lender so requests requests, by notice to Borrowerthe Borrowers, each LIBOR Loan of Bank such Lender then outstanding shall be automatically converted into a Prime Rate Loan on the date specified by Bank such Lender in such notice) and, to the extent that LIBOR Loans are so made as (or converted into) Prime Rate Loans, all payments of principal which would otherwise be applied to such LIBOR Loans shall be applied instead to such Prime Rate Loans.

Substitute Prime Rate Loans. If the obligation of Bank any Lender to --------------------------- make LIBOR Loans shall be suspended pursuant to Sections 2.5(b)4.12, 2.5(c) 4.13 or 2.5(f) 4.14 hereof, all Loans which would otherwise be made by Bank such Lender as LIBOR Loans shall be made instead as Prime Rate Loans (and, if an event referred to in Sections 2.5(b), 2.5(cSection 4.12(b) or 2.5(f) hereof Section 4.14 has occurred and Bank such Lender so requests requests, by notice to the Borrower, each LIBOR Loan of Bank such Lender then outstanding shall be automatically converted into a Prime Rate Loan on the date specified by Bank such Lender in such notice) and, to the extent that LIBOR Loans are so made as (or converted into) Prime Rate Loans, all payments of principal which would otherwise be applied to such LIBOR Loans shall be applied instead to such Prime Rate Loans.

Substitute Prime Rate Loans. If the obligation of Bank any Lender --------------------------- to make LIBOR Loans shall be suspended pursuant to Sections 2.5(b)4.12, 2.5(c) 4.13 or 2.5(f) 4.14 hereof, all Loans which would otherwise be made by Bank such Lender as LIBOR Loans shall be made instead as Prime Rate Loans (and, if an event referred to in Sections 2.5(b), 2.5(cSection 4.12(b) or 2.5(f) hereof has occurred and Bank such Lender so requests requests, by notice to the Borrower, each LIBOR Loan of Bank such Lender then outstanding shall be automatically converted into a Prime Rate Loan on the date specified by Bank such Lender in such notice) and, to the extent that LIBOR Loans are so made as (or converted into) Prime Rate Loans, all payments of principal which would otherwise be applied to such LIBOR Loans shall be applied instead to such Prime Rate Loans.

Substitute Prime Rate Loans. If the obligation of any Bank to --------------------------- make LIBOR Loans shall be suspended pursuant to Sections 2.5(b)Section 3.7, 2.5(c) 3.8 or 2.5(f) 3.9 hereof, all Borrower Loans which would otherwise be made by such Bank as LIBOR Loans shall be made instead as Prime Rate Loans (and, if an event referred to in Sections 2.5(b), 2.5(cSection 3.7(b) or 2.5(f) hereof 3.9 has occurred and such Bank so requests requests, by notice to Borrowerthe Borrowers, each LIBOR Loan of such Bank then outstanding shall be automatically converted into a Prime Rate Loan on the date specified by such Bank in such notice) and, to the extent that LIBOR Loans are so made as (or converted into) Prime Rate Loans, all payments of principal which would otherwise be applied to such LIBOR Loans shall be applied instead to such Prime Rate Loans.

Substitute Prime Rate Loans. If the obligation of any Bank --------------------------- to make LIBOR Loans shall be suspended pursuant to Sections 2.5(b)Section 3.7, 2.5(c) 3.8 or 2.5(f) 3.9 hereof, all Borrower Loans which would otherwise be made by such Bank as LIBOR Loans shall be made instead as Prime Rate Loans (and, if an event referred to in Sections 2.5(b), 2.5(cSection 3.7(b) or 2.5(f) hereof 3.9 has occurred and such Bank so requests requests, by notice to Borrowerthe Borrowers, each LIBOR Loan of such Bank then outstanding shall be automatically converted into a Prime Rate Loan on the date specified by such Bank in such notice) and, to the extent that LIBOR Loans are so made as (or converted into) Prime Rate Loans, all payments of principal which would otherwise be applied to such LIBOR Loans shall be applied instead to such Prime Rate Loans.