Common use of The Agents’ and Lenders’ Rights Clause in Contracts

The Agents’ and Lenders’ Rights. In the case of any event specified in Section 3.01(a) above, the Applicable Agent shall promptly so notify the applicable Lenders and the applicable Borrower thereof, and in the case of an event specified in Section 3.01(b) above, such Lender shall promptly so notify the Applicable Agent and endorse a certificate to such notice as to the specific circumstances of such notice, and the Applicable Agent shall promptly send copies of such notice and certificate to the other Lenders and the applicable Borrower. Upon such date as shall be specified in such notice (which shall not be earlier than the date such notice is given), the obligation of (A) the applicable Lenders, in the case of such notice given by the Applicable Agent, or (B) such Lender, in the case of such notice given by such Lender, to allow the applicable Borrower to select, convert to or renew the applicable interest rate shall be suspended until the Applicable Agent shall have later notified the Borrower, or such Lender shall have later notified the Applicable Agent, of the Applicable Agent’s or such Lender’s, as the case may be, determination that the circumstances giving rise to such previous determination no longer exist. If at any time the Applicable Agent makes a determination under Section 3.01(a) and the applicable Borrower has previously notified the Applicable Agent of its selection of, conversion to or renewal of such interest rate and such interest rate has not yet gone into effect, such notification shall be deemed to provide for selection of, conversion to or renewal of the Base Rate or the Canadian Base Rate, as applicable, otherwise available with respect to such Loans. If any Lender notifies the Applicable Agent of a determination under Section 3.01(b), the applicable Borrower shall, subject to the Borrower’s indemnification Obligations under Section 3.04, as to any Fixed Rate Loan of the Lender on the date specified in such notice either convert such Loan to the Base Rate or the Canadian Base Rate, as applicable, otherwise available with respect to such Loan or prepay such Loan in accordance with Section 2.16. Absent due notice from the applicable Borrower of conversion or prepayment, such Loan shall automatically be converted to the Base Rate or the Canadian Base Rate, as applicable, otherwise available with respect to such Loan upon such specified date.

The Agents’ and Lenders’ Rights. In the case of any event specified in Section 3.01(a) 4.4.1 above, the Applicable Agent shall promptly so notify the applicable Lenders and the applicable Borrower thereof, and in the case of an event specified in Section 3.01(b) 4.4.2 above, such Lender shall promptly so notify the Applicable Agent and endorse a certificate to such notice as to the specific circumstances of such notice, and the Applicable Agent shall promptly send copies of such notice and certificate to the other Lenders and the applicable Borrower. Upon such date as shall be specified in such notice (which shall not be earlier than the date such notice is given), the obligation of (Aa) the applicable Lenders, in the case of such notice given by the Applicable Agent, Agent or (Bb) such Lender, in the case of such notice given by such Lender, to allow the applicable Borrower to select, convert to or renew the applicable interest rate a Euro-Rate Option shall be suspended until the Applicable Agent shall have later notified the Borrower, or such Lender shall have later notified the Applicable Agent, of the Applicable Agent’s or such Lender’s, as the case may be, determination that the circumstances giving rise to such previous determination no longer exist. If at any time the Applicable Agent makes a determination under Section 3.01(a) 4.4.1 and the applicable Borrower has previously notified the Applicable Agent of its selection of, conversion to or renewal of such interest rate a Euro-Rate Option and such interest rate Interest Rate Option has not yet gone into effect, such notification shall be deemed to provide for the selection of, conversion to or renewal of the Base Rate or the Canadian Base Rate, as applicable, Option otherwise available with respect to such LoansLoans if the Borrower has requested the Euro-Rate Option. If any Lender notifies the Applicable Agent of a determination under Section 3.01(b)4.4.2, the applicable Borrower shall, subject to the Borrower’s indemnification Obligations under Section 3.04, 5.6.2 as to any Fixed Rate Loan of the Lender to which a Euro-Rate Option applies, on the date specified in such notice either (i) convert such Loan to the Base Rate or the Canadian Base Rate, as applicable, Option otherwise available with respect to such Loan Loan, or (ii) prepay such Loan in accordance with Section 2.165.4.1. Absent due notice from the applicable Borrower of conversion or prepayment, such Loan shall automatically be converted to the Base Rate or the Canadian Base Rate, as applicable, Option otherwise available with respect to such Loan upon such specified date.