Common use of Treatment of Affected Loans Clause in Contracts

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan of any Bank (hereinafter called "Affected Accounts") are to be Converted pursuant to Section 7.1 or Section 7.3 hereof, the Bank's Affected Accounts shall be automatically Converted into Base Rate Accounts on the last day(s) of the then current Interest Period(s) (or, in the case of a Conversion required by Section 7.1(b) or Section 7.3 hereof, on such earlier date as such Bank may specify to the Borrower with a copy to the Agent) and, unless and until such Bank gives notice as provided below that the circumstances specified in Section 7.1 or Section 7.3 hereof which gave rise to such Conversion no longer exist: (a) to the extent that such Bank's Affected Accounts have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Bank's Affected Accounts shall be applied instead to its Base Rate Accounts; and (b) all Accounts which would otherwise be established or Continued by such Bank as Eurodollar Accounts shall be made as or Converted into Base Rate Accounts and all Accounts of such Bank which would otherwise be Converted into Eurodollar Accounts shall be Converted instead into (or shall remain as) Base Rate Accounts. If such Bank gives notice to the Borrower (with a copy to the Agent) that the circumstances specified in Section 7.1 or Section 7.3 hereof which gave rise to the Conversion of such Bank's Affected Accounts pursuant to this Section 7.4 no longer exist (which such Bank agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Accounts are outstanding, such Bank's Base Rate Accounts shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Accounts to the extent necessary so that, after giving effect thereto, all Accounts held by the Banks holding Eurodollar Accounts and by such Bank are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitment Percentages.

Appears in 2 contracts

Samples: Credit Agreement (Tufco Technologies Inc), Credit Agreement (Tufco Technologies Inc)

AutoNDA by SimpleDocs

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan obligation of any Bank (hereinafter called "Affected Accounts") are Lender to make LIBOR Loans or to Continue, or to Convert Base Rate Loans into, LIBOR Loans shall be Converted suspended pursuant to Section 7.1 4.1(b), 4.2 or Section 7.3 hereof4.3, the Bankthen such Lender's Affected Accounts LIBOR Loans shall be automatically Converted into Base Rate Accounts Loans on the last day(s) of the then current Interest Period(s) for LIBOR Loans (or, in the case of a Conversion required by Section 7.1(b4.1(b) or Section 7.3 hereof4.3, on such earlier date as such Bank Lender may specify to the Borrower Borrowers with a copy to the Agent) and, unless and until such Bank Lender gives notice as provided below that the circumstances specified in Section 7.1 4.1 or Section 7.3 hereof which 4.3 that gave rise to such Conversion no longer exist: (a) to the extent that such BankLender's Affected Accounts LIBOR Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such BankLender's Affected Accounts LIBOR Loans shall be applied instead to its Base Rate AccountsLoans; and (b) all Accounts which Loans that would otherwise be established made or Continued by such Bank Lender as Eurodollar Accounts LIBOR Loans shall be made or Continued instead as or Converted into Base Rate Accounts Loans, and all Accounts Base Rate Loans of such Bank which Lender that would otherwise be Converted into Eurodollar Accounts shall be Converted instead into (or LIBOR Loans shall remain as) as Base Rate AccountsLoans. If such Bank Lender gives notice to the Borrower Borrowers (with a copy to the Agent) that the circumstances specified in Section 7.1 4.1 or Section 7.3 hereof which 4.3 that gave rise to the Conversion of such BankLender's Affected Accounts LIBOR Loans pursuant to this Section 7.4 no longer exist (which such Bank Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Accounts LIBOR Loans made by other Lenders are outstanding, then such BankLender's Revolving Credit Loans that are Base Rate Accounts Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Accounts LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Accounts Revolving Loans held by the Banks Lenders holding Eurodollar Accounts LIBOR Loans and by such Bank Lender are held pro rata (as to principal amounts, Types, Types and Interest Periods) in accordance with their respective Commitment Percentages.Commitments. Section 4.7

Appears in 2 contracts

Samples: Credit Agreement (Gables Residential Trust), Credit Agreement (Gables Realty Limited Partnership)

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan of any Bank (hereinafter called "Affected Accounts") are to be Converted pursuant to Section 7.1 6.1 or Section 7.3 6.3 hereof, the Bank's Affected Accounts shall be automatically Converted into Base Rate Accounts on the last day(s) of the then current Interest Period(s) (or, in the case of a Conversion required by Section 7.1(bsubsection 6.1(b) or Section 7.3 6.3 hereof, on such earlier date as such Bank may specify to the Borrower with a copy to the Agent) and, unless and until such Bank gives notice as provided below that the circumstances specified in Section 7.1 6.1 or Section 7.3 6.3 hereof which gave rise to such Conversion no longer exist: (a) to the extent that such Bank's Affected Accounts have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Bank's Affected Accounts shall be applied instead to its Base Rate Accounts; and (b) all Accounts which would otherwise be established or Continued by such Bank as Eurodollar Accounts shall be made as or Converted into Base Rate Accounts and all Accounts of such Bank which would otherwise be Converted into Eurodollar Accounts shall be Converted instead into (or shall remain as) Base Rate Accounts. If such Bank gives notice to the Borrower (with a copy to the Agent) that the circumstances specified in Section 7.1 6.1 or Section 7.3 6.3 hereof which gave rise to the Conversion of such Bank's Affected Accounts pursuant to this Section 7.4 6.4 no longer exist (which such Bank agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Accounts are outstanding, such Bank's Base Rate Accounts shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Accounts to the extent necessary so that, after giving effect thereto, all Accounts held by the Banks holding Eurodollar Accounts and by such Bank are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitment Percentages.

Appears in 2 contracts

Samples: Credit Agreement (Horizon Health Corp /De/), Credit Agreement (Horizon Health Corp /De/)

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan obligation of any Bank (hereinafter called "Affected Accounts") are Lender to make LIBOR Rate Loans or to Continue or to Convert Base Rate Loans into LIBOR Rate Loans shall be Converted suspended pursuant to Section 7.1 5.01 or Section 7.3 hereof5.03, the Bankthen such Lender's Affected Accounts LIBOR Rate Loans shall be automatically Converted into Base Rate Accounts Loans on the last day(s) of the then current Interest Period(s) for LIBOR Rate Loans (or, in the case of a Conversion required by resulting from a circumstance described in Section 7.1(b) or Section 7.3 hereof5.03, on such earlier date as such Bank Lender may specify to the Borrower with a copy to the Administrative Agent) and, unless and until either (i) such Bank Lender gives notice as provided below that the circumstances specified in Section 7.1 5.01 or Section 7.3 hereof which 5.03 that gave rise to such Conversion conversion no longer existexist or (ii) Borrower, in the case of Section 5.01, ends any suspension by Borrower: (a) to the extent that such BankLender's Affected Accounts LIBOR Rate Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such BankLender's Affected Accounts LIBOR Rate Loans shall be applied instead to its Base Rate AccountsLoans; and (b) all Accounts which Loans that would otherwise be established made or Continued by such Bank Lender as Eurodollar Accounts LIBOR Rate Loans shall be made or Continued instead as or Converted into Base Rate Accounts Loans, and all Accounts Base Rate Loans of such Bank which Lender that would otherwise be Converted into Eurodollar Accounts shall be Converted instead into (or LIBOR Rate Loans shall remain as) as Base Rate AccountsLoans. If such Bank Lender gives notice to the Borrower (with a copy to the Agent) Administrative Agent that the circumstances specified in Section 7.1 5.01 or Section 7.3 hereof which 5.03 that gave rise to the Conversion of such BankLender's Affected Accounts LIBOR Rate Loans pursuant to this Section 7.4 5.04 no longer exist (which notice such Bank Lender agrees to do give promptly upon such circumstances ceasing to exist) or Borrower terminates its applicable suspension at a time when Eurodollar Accounts LIBOR Rate Loans made by other Lenders are outstanding, such BankLender's Base Rate Accounts Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Accounts LIBOR Rate Loans, to the extent necessary so that, after giving effect thereto, all Accounts held by Base Rate and LIBOR Rate Loans are allocated among the Banks holding Eurodollar Accounts and by such Bank are held pro rata Lenders ratably (as to principal amounts, Types, Types and Interest Periods) in accordance with their respective Commitment PercentagesCommitments.

Appears in 1 contract

Samples: Construction Loan Agreement (Vail Resorts Inc)

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan of any Bank (hereinafter called "Affected AccountsAFFECTED ACCOUNTS") are to be Converted pursuant to Section 7.1 affected by SECTION 5.1 or Section 7.3 SECTION 5.3 hereof, the Bank's Affected Accounts shall be automatically Converted into Base Rate Accounts on the last day(s) of the then current Interest Period(s) (or, in the case of a Conversion required by Section 7.1(bSUBSECTION 5.1(b) or Section 7.3 SECTION 5.3 hereof, on such earlier date as such Bank may specify to the Borrower Parent with a copy to the Agent) and, unless and until such Bank gives notice as provided below that the circumstances specified in Section 7.1 SECTION 5.1 or Section 7.3 5.3 hereof which gave rise to such Conversion no longer exist: (a) to the extent that such Bank's Affected Accounts have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Bank's Affected Accounts shall be applied instead to its Base Rate Accounts; and (b) all Accounts which would otherwise be established or Continued by such Bank as Eurodollar Libor Accounts shall be made as or Converted into Base Rate Accounts and all Accounts of such Bank which would otherwise be Converted into Eurodollar Libor Accounts shall be Converted instead into (or shall remain as) Base Rate Accounts. If such Bank gives notice to the Borrower Parent (with a copy to the Agent) that the circumstances specified in Section 7.1 SECTION 5.1 or Section 7.3 5.3 hereof which gave rise to the Conversion of such Bank's Affected Accounts pursuant to this Section 7.4 SECTION 5.4 no longer exist (which such Bank agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Libor Accounts are outstanding, such Bank's Base Rate Accounts shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Libor Accounts to the extent necessary so that, after giving effect thereto, all Accounts held by the Banks holding Eurodollar Libor Accounts and by such Bank are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitment Percentages.

Appears in 1 contract

Samples: Credit Agreement (Marketing Specialists Corp)

Treatment of Affected Loans. If the Accounts applicable to a Revolving --------------------------- Loan of any Bank (hereinafter called "Affected Accounts") are to be Converted ----------------- pursuant to Section 7.1 6.1 or Section 7.3 6.3 hereof, the Bank's Affected Accounts shall be automatically Converted into Base Rate Accounts on the last day(s) of the then current Interest Period(s) (or, in the case of a Conversion required by Section 7.1(bsubsection 6.1(b) or Section 7.3 6.3 hereof, on such earlier date as such Bank may specify to the Borrower with a copy to the Agent) and, unless and until such Bank gives notice as provided below that the circumstances specified in Section 7.1 6.1 or Section 7.3 6.3 hereof which gave rise to such Conversion no longer exist: (a) to the extent that such Bank's Affected Accounts have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Bank's Affected Accounts shall be applied instead to its Base Rate Accounts; and (b) all Accounts which would otherwise be established or Continued by such Bank as Eurodollar Libor Accounts shall be made as or Converted into Base Rate Accounts and all Accounts of such Bank which would otherwise be Converted into Eurodollar Libor Accounts shall be Converted instead into (or shall remain as) Base Rate Accounts. If such Bank gives notice to the Borrower (with a copy to the Agent) that the circumstances specified in Section 7.1 6.1 or Section 7.3 6.3 hereof which gave rise to the Conversion of such Bank's Affected Accounts pursuant to this Section 7.4 6.4 no longer exist (which such Bank agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Libor Accounts are outstanding, such Bank's Base Rate Accounts shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Libor Accounts to the extent necessary so that, after giving effect thereto, all Accounts held by the Banks holding Eurodollar Libor Accounts and by such Bank are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective applicable Commitment Percentages.

Appears in 1 contract

Samples: Credit Agreement (Learningstar Inc)

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan obligation of any Bank (hereinafter called "Affected Accounts") are Lender to make LIBOR Loans or to Continue, or to Convert Base Rate Loans into, LIBOR Loans shall be Converted suspended pursuant to Section 7.1 6.1.(b), 6.2. or Section 7.3 hereof6.3., the Bankthen such Lender's Affected Accounts LIBOR Loans shall be automatically Converted into Base Rate Accounts Loans on the last day(s) of the then current Interest Period(s) for LIBOR Loans (or, in the case of a Conversion required by Section 7.1(b6.1.(b) or Section 7.3 hereof6.3., on such earlier date as such Bank Lender may specify to the Borrower with a copy to the Agent) and, unless and until such Bank Lender gives notice as provided below that the circumstances specified in Section 7.1 6.1., 6.2. or Section 7.3 hereof which 6.3. that gave rise to such Conversion no longer exist: (a) to the extent that such BankLender's Affected Accounts LIBOR Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such BankLender's Affected Accounts LIBOR Loans shall be applied instead to its Base Rate Accounts; Loans and (b) all Accounts which Loans that would otherwise be established made or Continued by such Bank Lender as Eurodollar Accounts LIBOR Loans shall be made or Continued instead as or Converted into Base Rate Accounts Loans, and all Accounts Base Rate Loans of such Bank which Lender that would otherwise be Converted into Eurodollar Accounts shall be Converted instead into (or LIBOR Loans shall remain as) as Base Rate AccountsLoans. If such Bank Lender gives notice to the Borrower (with a copy to the Agent) that the circumstances specified in Section 7.1 6.1. or Section 7.3 hereof which 6.3. that gave rise to the Conversion of such BankLender's Affected Accounts LIBOR Loans pursuant to this Section 7.4 no longer exist (which such Bank Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Accounts LIBOR Loans made by other Lenders are outstanding, then such BankLender's Base Rate Accounts Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Accounts LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Accounts Loans held by the Banks Lenders holding Eurodollar Accounts LIBOR Loans and by such Bank Lender are held pro rata (as to principal amounts, Types, Types and Interest Periods) in accordance with their respective Commitment PercentagesCommitments.

Appears in 1 contract

Samples: Credit Agreement (Pennsylvania Real Estate Investment Trust)

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan of any Bank (hereinafter called "Affected Accounts") are to be Converted pursuant to Section 7.1 Sections 8.1 or Section 7.3 8.3 hereof, the Bank's Affected Accounts shall be automatically Converted into Base Prime Rate Accounts on the last day(s) of the then current Interest Period(s) (or, in the case of a Conversion required by Section 7.1(b) or Section 7.3 8.3 hereof, on such earlier date as such Bank may specify to the Borrower with a copy to the Agent) and, unless and until such Bank gives notice as provided below that the circumstances specified in Section 7.1 Sections 8.1 or Section 7.3 8.3 hereof which gave rise to such Conversion no longer exist: (a) to the extent that such Bank's Affected Accounts have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Bank's Affected Accounts shall be applied instead to its Base Prime Rate Accounts; and (b) all Accounts which would otherwise be established or Continued by such Bank as Eurodollar Libor Accounts shall be made as or Converted into Base Prime Rate Accounts and all Accounts of such Bank which would otherwise be Converted into Eurodollar Libor Accounts shall be Converted instead into (or shall remain as) Base Prime Rate Accounts. If such Bank gives notice to the Borrower (with a copy to the Agent) that the circumstances specified in Section 7.1 Sections 8.1 or Section 7.3 8.3 hereof which gave rise to the Conversion of such Bank's Affected Accounts pursuant to this Section 7.4 8.4 no longer exist (which such Bank agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Libor Accounts are outstanding, such Bank's Base Prime Rate Accounts shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Libor Accounts to the extent necessary so that, after giving effect thereto, all Accounts held by the Banks holding Eurodollar Libor Accounts and by such Bank are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitment Percentages.

Appears in 1 contract

Samples: Credit Agreement (Jotan Inc)

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan obligation of any Bank (hereinafter called "Affected Accounts") are Lender to make Eurodollar Loans or to Continue, or to Convert Base Rate Loans into Eurodollar Loans shall be Converted suspended pursuant to Section 7.1 3.9 or Section 7.3 hereof3.11, the Banksuch Lender's Affected Accounts Eurodollar Loans shall be automatically Converted into Base Rate Accounts Loans on the last day(s) of the then current Interest Period(s) (or, in the case of a Conversion required by Section 7.1(b) or Section 7.3 hereof3.11, on such earlier date as such Bank Lender may specify to the Borrower with a copy to the Agent) and, unless and until such Bank Lender gives notice as provided below that the circumstances specified in Section 7.1 3.9 or Section 7.3 hereof which 3.11 that gave rise to such Conversion no longer existexists: (a) ai to the extent that such BankLender's Affected Accounts Eurodollar Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such BankLender's Affected Accounts Eurodollar Loans shall be applied instead to its Base Rate AccountsLoans; and (b) bi all Accounts which Loans that would otherwise be established made or Continued by such Bank Lender as Eurodollar Accounts Loans shall be made or Continued instead as or Converted into Base Rate Accounts Loans, and all Accounts Loans of such Bank which Lenders that would otherwise be Converted into Eurodollar Accounts Loans shall be Converted instead into (or shall remain as) Base Rate AccountsLoans. If such Bank Lender gives notice to the Borrower (with a copy to the Agent) that the circumstances specified in Section 7.1 3.9 or Section 7.3 hereof which 3.11 that gave rise to the Conversion of such BankLender's Affected Accounts Eurodollar Loans pursuant to this Section 7.4 3.12 no longer exist (which such Bank Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Accounts Loans made by other Lenders are outstanding, such BankLender's Base Rate Accounts Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Accounts Loans, to the extent necessary so that, after giving effect thereto, all Accounts Loans held by the Banks Lenders holding Eurodollar Accounts Loans and by such Bank Lender are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitment PercentagesRevolving Credit Commitments.

Appears in 1 contract

Samples: Credit Agreement (Promedco Management Co)

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan obligation of any Bank (hereinafter called "Affected Accounts") are Lender to make LIBOR Loans or to continue, or to convert ABR Loans into, LIBOR Loans shall be Converted suspended pursuant to Section 7.1 or Section 7.3 hereof5.03, the Bank's Affected Accounts such Lender’s LIBOR Loans shall be automatically Converted converted into Base Rate Accounts ABR Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or, in the case of a Conversion required by Section 7.1(b) or Section 7.3 hereof, on such earlier date as such Bank Lender may specify to the Borrower with a copy to the AgentAdministrative Agent as is required by law) and, unless and until such Bank Lender gives notice as provided below that the circumstances specified in Section 7.1 or Section 7.3 hereof 5.03 which gave rise to such Conversion conversion no longer exist: (ai) to the extent that such Bank's Affected Accounts Lender’s LIBOR Loans have been so Convertedconverted, all payments and prepayments of principal which would otherwise be applied to such Bank's Affected Accounts Lender’s LIBOR Loans shall be applied instead to its Base Rate AccountsABR Loans; and (bii) all Accounts Loans which would otherwise be established made or Continued continued by such Bank Lender as Eurodollar Accounts LIBOR Loans shall be made or continued instead as or Converted into Base Rate Accounts ABR Loans and all Accounts ABR Loans of such Bank Lender which would otherwise be Converted converted into Eurodollar Accounts shall be Converted instead into (or LIBOR Loans shall remain as) Base Rate Accountsas ABR Loans. If such Bank Lender gives notice to the Borrower (with a copy to the Agent) Administrative Agent that the circumstances specified in Section 7.1 or Section 7.3 hereof 5.03 which gave rise to the Conversion conversion of such Bank's Affected Accounts Lender’s LIBOR Loans pursuant to this Section 7.4 5.04 no longer exist (which such Bank Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Accounts LIBOR Loans are outstanding, such Bank's Base Rate Accounts Lender’s ABR Loans shall be automatically Convertedconverted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Accounts LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Accounts Loans held by the Banks Lenders holding Eurodollar Accounts LIBOR Loans and by such Bank Lender are held pro rata (as to principal amounts, Types, Types and Interest Periods) in accordance with their respective Commitment PercentagesCommitments. SECTION 5.05.

Appears in 1 contract

Samples: Credit Agreement (Wynn Resorts LTD)

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan obligation of any Bank (hereinafter called "Affected Accounts") are Lender to make LIBOR Loans or to Continue, or to Convert Base Rate Loans into, LIBOR Loans shall be Converted suspended pursuant to Section 7.1 4.1.(c), Section 4.2. or Section 7.3 hereof, the Bank's Affected Accounts 4.3. then such Lender’s LIBOR Loans shall be automatically Converted into Base Rate Accounts Loans on the last day(s) of the then current Interest Period(s) for LIBOR Loans (or, in the case of a Conversion required by Section 7.1(b) 4.1.(c), Section 4.2., or Section 7.3 hereof, 4.3. on such earlier date as such Bank Lender or the Administrative Agent, as applicable, may specify to the Borrower (with a copy to the Administrative Agent, as applicable)) and, unless and until such Bank Lender or the Administrative Agent, as applicable, gives notice as provided below that the circumstances specified in Section 7.1 4.1., Section 4.2. or Section 7.3 hereof which 4.3. that gave rise to such Conversion no longer exist: (a) to the extent that such Bank's Affected Accounts Lender’s LIBOR Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Bank's Affected Accounts Lender’s LIBOR Loans shall be applied instead to its Base Rate AccountsLoans; and (b) all Accounts which Loans that would otherwise be established made or Continued by such Bank Lender as Eurodollar Accounts LIBOR Loans shall be made or Continued instead as or Converted into Base Rate Accounts Loans, and all Accounts Base Rate Loans of such Bank which Lender that would otherwise be Converted into Eurodollar Accounts shall be Converted instead into (or LIBOR Loans shall remain as) as Base Rate AccountsLoans. If such Bank Lender or the Administrative Agent, as applicable, gives notice to the Borrower (with a copy to the Administrative Agent, as applicable) that the circumstances specified in Section 7.1 4.1.(c), 4.2. or Section 7.3 hereof which 4.3. that gave rise to the Conversion of such Bank's Affected Accounts Lender’s LIBOR Loans pursuant to this Section 7.4 no longer exist (which such Bank Lender or the Administrative Agent, as applicable, agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Accounts LIBOR Loans made by other Lenders are outstanding, then such Bank's Lender’s Base Rate Accounts Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Accounts LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Accounts Loans held by the Banks Lenders holding Eurodollar Accounts LIBOR Loans and by such Bank Lender are held pro rata (as to principal amounts, Types, Types and Interest Periods) in accordance with their respective Commitment PercentagesCommitments, in the case of Revolving Loans, or the outstanding principal amount of Term Loans, in the case of Term Loans. Section 4.6.

Appears in 1 contract

Samples: Credit Agreement (Equity Lifestyle Properties Inc)

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan of any Bank (hereinafter called "Affected Accounts") are to be Converted pursuant to Section 7.1 or Section 7.3 hereof, the Bank's Affected Accounts shall be automatically Converted into Base Rate Accounts on the last day(s) of the then current Interest Period(s) (or, in the case of a Conversion required by Section 7.1(b) or Section 7.3 hereof, on such earlier date as such Bank may specify to the Borrower with a copy to the Agent) and, unless and until such Bank gives notice as provided below that the circumstances specified in Section 7.1 or Section 7.3 hereof which gave rise to such Conversion no longer exist: (a) to the extent that such Bank's Affected Accounts have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Bank's Affected Accounts shall be applied instead to its Base Rate Accounts; and (b) all Accounts which would otherwise be established or Continued by such Bank as Eurodollar Accounts shall be made as or Converted into Base Rate Accounts and all Accounts of such Bank which would otherwise be Converted into Eurodollar Accounts shall be Converted instead into (or shall remain as) Base Rate Accounts. If such Bank gives notice to the Borrower (with a copy to the Agent) that the circumstances specified in Section 7.1 or Section 7.3 hereof which gave rise to the Conversion of such Bank's Affected Accounts pursuant to this Section 7.4 no longer exist (which such Bank agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Accounts are outstanding, such Bank's Base Rate Accounts shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Accounts to the extent necessary so that, after giving effect thereto, all Accounts held by the Banks holding Eurodollar Accounts and by such Bank are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitment Percentages.

Appears in 1 contract

Samples: Credit Agreement (Tufco Technologies Inc)

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan of any Bank (hereinafter called "Affected AccountsAFFECTED ACCOUNTS") are to be Converted pursuant to Section 7.1 SECTION 6.1 or Section 7.3 6.3 hereof, the Bank's Affected Accounts shall be automatically Converted into Base Rate Accounts on the last day(s) of the then current Interest Period(s) (or, in the case of a Conversion required by Section 7.1(bSUBSECTION 6.1(b) or Section 7.3 SECTION 6.3 hereof, on such earlier date as such Bank may specify to the Borrower with a copy to the Agent) and, unless and until such Bank gives notice as provided below that the circumstances specified in Section 7.1 SECTION 6.1 or Section 7.3 6.3 hereof which gave rise to such Conversion no longer exist: (a) to the extent that such Bank's Affected Accounts have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Bank's Affected Accounts shall be applied instead to its Base Rate Accounts; and (b) all Accounts which would otherwise be established or Continued by such Bank as Eurodollar Libor Accounts shall be made as or Converted into Base Rate Accounts and all Accounts of such Bank which would otherwise be Converted into Eurodollar Libor Accounts shall be Converted instead into (or shall remain as) Base Rate Accounts. If such Bank gives notice to the Borrower (with a copy to the Agent) that the circumstances specified in Section 7.1 SECTION 6.1 or Section 7.3 6.3 hereof which gave rise to the Conversion of such Bank's Affected Accounts pursuant to this Section 7.4 SECTION 6.4 no longer exist (which such Bank agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Libor Accounts are outstanding, such Bank's Base Rate Accounts shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Libor Accounts to the extent necessary so that, after giving effect thereto, all Accounts held by the Banks holding Eurodollar Libor Accounts and by such Bank are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitment Percentages.

Appears in 1 contract

Samples: Credit Agreement (Snelling & Snelling Inc)

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan obligation of any Bank (hereinafter called "Affected Accounts") are Lender to make LIBORSOFR Loans or to Continue, or to Convert Base Rate Loans into, LIBORSOFR Loans shall be Converted suspended pursuant to Section 7.1 4.1.(c), Section 4.2. or Section 7.3 hereof, the Bank's Affected Accounts 4.3. then such Lender’s LIBORSOFR Loans shall be automatically Converted into Base Rate Accounts Loans on (I) with respect to any Daily Simple SOFR Loans, immediately and (II) with respect to any Term SOFR Loans, on the last day(s) of the then current Interest Period(s) for LIBORsuch Term SOFR Loans (or, in the case of a Conversion required by Section 7.1(b) 4.1.(c), Section 4.2., or Section 7.3 hereof, 4.3. on such earlier date as such Bank Lender or the Administrative Agent, as applicable, may specify to the Borrower (with a copy to the Administrative Agent, as applicable)) and, in each case, unless and until such Bank Lender or the Administrative Agent, as applicable, gives notice as provided below that the circumstances specified in Section 7.1 4.1., Section 4.2. or Section 7.3 hereof which 4.3. that gave rise to such Conversion no longer exist: (a) to the extent that such Bank's Affected Accounts Xxxxxx’s LIBORSOFR Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Bank's Affected Accounts Lender’s LIBORSOFR Loans shall be applied instead to its Base Rate AccountsLoans; and (b) all Accounts which Loans that would otherwise be established made or Continued by such Bank Lender as Eurodollar Accounts LIBORSOFR Loans shall be made or Continued instead as or Converted into Base Rate Accounts Loans, and all Accounts Base Rate Loans of such Bank which Lender that would otherwise be Converted into Eurodollar Accounts shall be Converted instead into (or LIBORSOFR Loans shall remain as) as Base Rate AccountsLoans. If such Bank Lender or the Administrative Agent, as applicable, gives notice to the Borrower (with a copy to the Administrative Agent, as applicable) that the circumstances specified in Section 7.1 4.1.(c), 4.2. or Section 7.3 hereof which 4.3. that gave rise to the Conversion of such Bank's Affected Accounts Xxxxxx’s LIBORSOFR Loans pursuant to this Section 7.4 no longer exist (which such Bank Lender or the Administrative Agent, as applicable, agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Accounts are outstanding, such Bank's Base Rate Accounts shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Accounts to the extent necessary so that, after giving effect thereto, all Accounts held by the Banks holding Eurodollar Accounts and by such Bank are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitment Percentages.- 71 - LEGAL02\42427047.v4

Appears in 1 contract

Samples: Credit Agreement (Equity Lifestyle Properties Inc)

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan obligation of any Bank Lender to make a Eurodollar Rate Loan or to Continue, or to Convert Loans of any other Type into, Loans of a particular Type shall be suspended pursuant to Section 5.1 or 5.3 hereof (hereinafter Loans of such Type being herein called "Affected AccountsLoans" and such Type being herein called the ") are to be Converted pursuant to Section 7.1 or Section 7.3 hereofAffected Type"), the Banksuch Lender's Affected Accounts Loans shall be automatically Converted into Base Rate Accounts Loans on the last day(s) of the then current Interest Period(s) for Affected Loans (or, in the case of a Conversion required by Section 7.1(b) or Section 7.3 5.3 hereof, on such earlier date as such Bank Lender may specify to the Borrower with a copy to the Agent) and, unless and until such Bank Lender gives notice as provided below that the circumstances specified in Section 7.1 5.1 or Section 7.3 5.3 hereof which that gave rise to such Conversion no longer exist: (a) to the extent that such BankLender's Affected Accounts Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such BankLender's Affected Accounts Loans shall be applied instead to its Base Rate AccountsLoans; and (b) all Accounts which Loans that would otherwise be established made or Continued by such Bank Lender as Eurodollar Accounts Loans of the Affected Type shall be made or Continued instead as or Converted into Base Rate Accounts Loans, and all Accounts Loans of such Bank which Lender that would otherwise be Converted into Eurodollar Accounts Loans of the Affected Type shall be Converted instead into (or shall remain as) Base Rate AccountsLoans. If such Bank Lender gives notice to the Borrower (with a copy to the Agent) that the circumstances specified in Section 7.1 5.1 or Section 7.3 5.3 hereof which that gave rise to the Conversion of such BankLender's Affected Accounts Loans pursuant to this Section 7.4 5.4 no longer exist (which such Bank Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Accounts Loans of the Affected Type made by other Lenders are outstanding, such BankLender's Base Rate Accounts Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Accounts Loans of the Affected Type, to the extent necessary so that, after giving effect thereto, all Accounts Loans held by the Banks Lenders holding Eurodollar Accounts Loans of the Affected Type and by such Bank Lender are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitment Percentages.Revolving Credit Commitments. 5.5

Appears in 1 contract

Samples: Credit Agreement (Headway Corporate Resources Inc)

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan of any Bank (hereinafter called "Affected Accounts") are to be Converted pursuant to affected by Section 7.1 5.1 or Section 7.3 5.3 hereof, the Bank's Affected Accounts shall be automatically Converted into Base Rate Accounts on the last day(s) of the then current Interest Period(s) (or, in the case of a Conversion required by Section 7.1(bsubsection 5.1(b) or Section 7.3 5.3 CREDIT AGREEMENT - Page 32 39 hereof, on such earlier date as such Bank may specify to the Borrower Parent with a copy to the Agent) and, unless and until such Bank gives notice as provided below that the circumstances specified in Section 7.1 5.1 or Section 7.3 5.3 hereof which gave rise to such Conversion no longer exist: (a) to the extent that such Bank's Affected Accounts have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Bank's Affected Accounts shall be applied instead to its Base Rate Accounts; and (b) all Accounts which would otherwise be established or Continued by such Bank as Eurodollar Libor Accounts shall be made as or Converted into Base Rate Accounts and all Accounts of such Bank which would otherwise be Converted into Eurodollar Libor Accounts shall be Converted instead into (or shall remain as) Base Rate Accounts. If such Bank gives notice to the Borrower Parent (with a copy to the Agent) that the circumstances specified in Section 7.1 5.1 or Section 7.3 5.3 hereof which gave rise to the Conversion of such Bank's Affected Accounts pursuant to this Section 7.4 5.4 no longer exist (which such Bank agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Libor Accounts are outstanding, such Bank's Base Rate Accounts shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Libor Accounts to the extent necessary so that, after giving effect thereto, all Accounts held by the Banks holding Eurodollar Libor Accounts and by such Bank are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitment Percentages.

Appears in 1 contract

Samples: Credit Agreement (Marketing Specialists Corp)

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan of any Bank (hereinafter called "Affected Accounts") are to be Converted pursuant to Section 7.1 5.1 or Section 7.3 5.3 hereof, the Bank's ’s Affected Accounts shall be automatically Converted into Base Rate Accounts on the last day(s) of the then current Interest Period(s) (or, in the case of a Conversion required by Section 7.1(b5.1(b) or Section 7.3 5.3 hereof, on such earlier date as such Bank may specify to the Borrower with a copy to the Agent) and, unless and until such Bank gives notice as provided below that the circumstances specified in Section 7.1 5.1 or Section 7.3 5.3 hereof which gave rise to such Conversion no longer exist: (a) to the extent that such Bank's ’s Affected Accounts have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Bank's ’s Affected Accounts shall be applied instead to its Base Rate Accounts; and (b) all Accounts which would otherwise be established or Continued by such Bank as Eurodollar Accounts shall be made as or Converted into Base Rate Accounts and all Accounts of such Bank which would otherwise be Converted into Eurodollar Accounts shall be Converted instead into (or shall remain as) Base Rate Accounts. If such Bank gives notice to the Borrower (with a copy to the Agent) that the circumstances specified in Section 7.1 5.1 or Section 7.3 5.3 hereof which gave rise to the Conversion of such Bank's ’s Affected Accounts pursuant to this Section 7.4 5.4 no longer exist (which such Bank agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Accounts are outstanding, such Bank's ’s Base Rate Accounts shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Accounts to the extent necessary so that, after giving effect thereto, all Accounts held by the Banks holding Eurodollar Accounts and by such Bank are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitment Percentages.

Appears in 1 contract

Samples: Credit Agreement (Horizon Health Corp /De/)

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan obligation of any Bank Lender to make a Eurodollar Rate Loan or to Continue, or to Convert Loans of any other Type into, Loans of a particular Type shall be suspended pursuant to SECTION 6.1 or 6.3 hereof (hereinafter Loans of such Type being herein called "Affected AccountsLoans" and such Type being herein called the ") are to be Converted pursuant to Section 7.1 or Section 7.3 hereofAffected Type"), the Banksuch Lender's Affected Accounts Loans shall be automatically Converted into Base Rate Accounts Loans on the last day(s) of the then current Interest Period(s) for Affected Loans (or, in the case of a Conversion required by Section 7.1(b) or Section 7.3 SECTION 6.3 hereof, on such earlier date as such Bank Lender may specify to the Borrower with a copy to the Agent) and, unless and until such Bank Lender gives notice as provided below that the circumstances specified in Section 7.1 SECTION 6.1 or Section 7.3 6.3 hereof which that gave rise to such Conversion no longer exist: (a) to the extent that such BankLender's Affected Accounts Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such BankLender's Affected Accounts Loans shall be applied instead to its Base Rate AccountsLoans; and (b) all Accounts which Loans that would otherwise be established made or Continued by such Bank Lender as Eurodollar Accounts Loans of the Affected Type shall be made or Continued instead as or Converted into Base Rate Accounts Loans, and all Accounts Loans of such Bank which Lender that would otherwise be Converted into Eurodollar Accounts Loans of the Affected Type shall be Converted instead into (or shall remain as) Base Rate AccountsLoans. If such Bank Lender gives notice to the Borrower (with a copy to the Agent) that the circumstances specified in Section 7.1 SECTION 6.1 or Section 7.3 6.3 hereof which that gave rise to the Conversion of such BankLender's Affected Accounts Loans pursuant to this Section 7.4 SECTION 6.4 no longer exist (which such Bank Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Accounts Loans of the Affected Type made by other Lenders are outstanding, such BankLender's Base Rate Accounts Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Accounts Loans of the Affected Type, to the extent necessary so that, after giving effect thereto, all Accounts Loans held by the Banks Lenders holding Eurodollar Accounts Loans of the Affected Type and by such Bank Lender are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitment PercentagesRevolving Credit Commitments. 6.5.

Appears in 1 contract

Samples: Credit Agreement

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan obligation of any Bank (hereinafter called "Affected Accounts") are Lender to make LIBOR Loans or to Continue, or to Convert Base Rate Loans into, LIBOR Loans shall be Converted suspended pursuant to Section 7.1 4.1.(b), 4.2. or Section 7.3 hereof4.3., the Bankthen such Lender's Affected Accounts LIBOR Loans shall be automatically Converted into Base Rate Accounts Loans on the last day(s) of the then current Interest Period(s) for LIBOR Loans (or, in the case of a Conversion required by Section 7.1(b4.1.(b) or Section 7.3 hereof4.3., on such earlier date as such Bank Lender may specify to the Borrower with a copy to the Agent) and, unless and until such Bank Lender gives notice as provided below that the circumstances specified in Section 7.1 4.1., 4.2. or Section 7.3 hereof which 4.3. that gave rise to such Conversion no longer exist: (a) to the extent that such BankLender's Affected Accounts LIBOR Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such BankLender's Affected Accounts LIBOR Loans shall be applied instead to its Base Rate Accounts; Loans and (b) all Accounts which Loans that would otherwise be established made or Continued by such Bank Lender as Eurodollar Accounts LIBOR Loans shall be made or Continued instead as or Converted into Base Rate Accounts Loans, and all Accounts Base Rate Loans of such Bank which Lender that would otherwise be Converted into Eurodollar Accounts shall be Converted instead into (or LIBOR Loans shall remain as) as Base Rate AccountsLoans. If such Bank Lender gives notice to the Borrower (with a copy to the Agent) that the circumstances specified in Section 7.1 4.1. or Section 7.3 hereof which 4.3. that gave rise to the Conversion of such BankLender's Affected Accounts LIBOR Loans pursuant to this Section 7.4 no longer exist (which such Bank Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Accounts LIBOR Loans made by other Lenders are outstanding, then such BankLender's Base Rate Accounts Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Accounts LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Accounts Loans held by the Banks Lenders holding Eurodollar Accounts LIBOR Loans and by such Bank Lender are held pro rata (as to principal amounts, Types, Types and Interest Periods) in accordance with their respective Commitment PercentagesCommitments.

Appears in 1 contract

Samples: Credit Agreement (Pennsylvania Real Estate Investment Trust)

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan obligation of any Bank (hereinafter called "Affected Accounts") are Lender to make LIBOR Loans or to Continue, or to Convert Base Rate Loans into, LIBOR Loans shall be Converted suspended pursuant to Section 7.1 5.1(b), 5.2 or Section 7.3 hereof5.3, the Bankthen such Lender's Affected Accounts LIBOR Loans shall be automatically Converted into Base Rate Accounts Loans on the last day(s) of the then current Interest Period(s) for LIBOR Loans (or, in the case of a Conversion required by Section 7.1(b5.1(b) or Section 7.3 hereof5.3, on such earlier date as such Bank Lender may specify to the Borrower with a copy to the Administrative Agent) and, unless and until such Bank Lender gives notice as provided below that the circumstances specified in Section 7.1 5.1, 5.2 or Section 7.3 hereof which 5.3 that gave rise to such Conversion no longer exist: (a) to the extent that such BankLender's Affected Accounts LIBOR Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such BankLender's Affected Accounts LIBOR Loans shall be applied instead to its Base Rate AccountsLoans; and (b) all Accounts which Loans that would otherwise be established made or Continued by such Bank Lender as Eurodollar Accounts LIBOR Loans shall be made or Continued instead as or Converted into Base Rate Accounts Loans, and all Accounts Base Rate Loans of such Bank which Lender that would otherwise be Converted into Eurodollar Accounts shall be Converted instead into (or LIBOR Loans shall remain as) as Base Rate AccountsLoans. If such Bank Lender gives notice to the Borrower (with a copy to the Administrative Agent) that the circumstances specified in Section 7.1 5.1 or Section 7.3 hereof which 5.3 that gave rise to the Conversion of such BankLender's Affected Accounts LIBOR Loans pursuant to this Section 7.4 no longer exist (which such Bank Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Accounts LIBOR Loans made by other Lenders are outstanding, then such BankLender's Base Rate Accounts Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Accounts LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Accounts Loans held by the Banks Lenders holding Eurodollar Accounts LIBOR Loans and by such Bank Lender are held pro rata (as to principal amounts, Types, Types and Interest Periods) in accordance with their respective Commitment PercentagesCommitments. Change of Lending Office. Each Lender agrees that it will use commercially reasonable efforts (consistent with its internal policy and legal and regulatory restrictions) to designate an alternate Lending Office with respect to any of its Loans affected by the matters or circumstances described in Sections 3.12, 5.1 or 5.3 to reduce the liability of the Borrower or avoid the results provided thereunder, so long as such designation is not disadvantageous to such Lender as determined by such Lender in its sole discretion, except that such Lender shall have no obligation to designate a Lending Office located in the United States of America.

Appears in 1 contract

Samples: Credit Agreement (Equity One Inc)

AutoNDA by SimpleDocs

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan obligation of any Bank (hereinafter called "Affected Accounts") are Lender to make LIBOR Loans or to Continue, or to Convert Base Rate Loans into, LIBOR Loans shall be Converted suspended pursuant to Section 7.1 4.1.(c), Section 4.2. or Section 7.3 hereof, the Bank's Affected Accounts 4.3. then such Lender’s LIBOR Loans shall be automatically Converted into Base Rate Accounts Loans on the last day(s) of the then current Interest Period(s) for LIBOR Loans (or, in the case of a Conversion required by Section 7.1(b) 4.1.(c), Section 4.2., or Section 7.3 hereof, 4.3. on such earlier date as such Bank Lender or the Administrative Agent, as applicable, may specify to the Borrower (with a copy to the Administrative Agent, as applicable)) and, unless and until such Bank Lender or the Administrative Agent, as applicable, gives notice as provided below that the circumstances specified in Section 7.1 4.1., Section 4.2. or Section 7.3 hereof which 4.3. that gave rise to such Conversion no longer exist: (a) to the extent that such Bank's Affected Accounts Lender’s LIBOR Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Bank's Affected Accounts Lender’s LIBOR Loans shall be applied instead to its Base Rate AccountsLoans; and (b) all Accounts which Loans that would otherwise be established made or Continued by such Bank Lender as Eurodollar Accounts LIBOR Loans shall be made or Continued instead as or Converted into Base Rate Accounts Loans, and all Accounts Base Rate Loans of such Bank which Lender that would otherwise be Converted into Eurodollar Accounts shall be Converted instead into (or LIBOR Loans shall remain as) as Base Rate AccountsLoans. If such Bank Lender or the Administrative Agent, as applicable, gives notice to the Borrower (with a copy to the Administrative Agent, as applicable) that the circumstances specified in Section 7.1 4.1.(c), 4.2. or Section 7.3 hereof which 4.3. that gave rise to the Conversion of such Bank's Affected Accounts Lender’s LIBOR Loans pursuant to this Section 7.4 no longer exist (which such Bank Lender or the Administrative Agent, as applicable, agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Accounts are outstanding, such Bank's Base Rate Accounts shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Accounts to the extent necessary so that, after giving effect thereto, all Accounts held by the Banks holding Eurodollar Accounts and by such Bank are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitment Percentages.circumstances

Appears in 1 contract

Samples: Credit Agreement (Equity Lifestyle Properties Inc)

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan obligation of any Bank (hereinafter called "Affected Accounts") are Lender to make LIBOR Rate Loans or to Continue or to Convert Base Rate Loans into LIBOR Rate Loans shall be Converted suspended pursuant to Section 7.1 Sections 5.01 or Section 7.3 hereof5.03, the Bankthen such Lender's Affected Accounts LIBOR Rate Loans shall be automatically Converted into Base Rate Accounts Loans on the last day(s) of the then current Interest Period(s) for LIBOR Rate Loans (or, in the case of a Conversion required by resulting from a circumstance described in Section 7.1(b) or Section 7.3 hereof5.03, on such earlier date as such Bank Lender may specify to the Borrower with a copy to the Administrative Agent) and, unless and until either (i) such Bank Lender gives notice as provided below that the circumstances specified in Section 7.1 Sections 5.01 or Section 7.3 hereof which 5.03 that gave rise to such Conversion conversion no longer existexist or (ii) Borrower, in the case of Section 5.01, ends any suspension by Borrower: (a) to the extent that such BankLender's Affected Accounts LIBOR Rate Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such BankLender's Affected Accounts LIBOR Rate Loans shall be applied instead to its Base Rate AccountsLoans; and (b) all Accounts which Loans that would otherwise be established made or Continued by such Bank Lender as Eurodollar Accounts LIBOR Rate Loans shall be made or Continued instead as or Converted into Base Rate Accounts Loans, and all Accounts Base Rate Loans of such Bank which Lender that would otherwise be Converted into Eurodollar Accounts shall be Converted instead into (or LIBOR Rate Loans shall remain as) as Base Rate AccountsLoans. If such Bank Lender gives notice to the Borrower (with a copy to the Agent) Administrative Agent that the circumstances specified in Section 7.1 Sections 5.01 or Section 7.3 hereof which 5.03 that gave rise to the Conversion of such BankLender's Affected Accounts LIBOR Rate Loans pursuant to this Section 7.4 5.04 no longer exist (which notice such Bank Lender agrees to do give promptly upon such circumstances ceasing to exist) or Borrower terminates its applicable suspension at a time when Eurodollar Accounts LIBOR Rate Loans made by other Lenders are outstanding, such BankLender's Base Rate Accounts Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Accounts LIBOR Rate Loans, to the extent necessary so that, after giving effect thereto, all Accounts held by Base Rate and LIBOR Rate Loans are allocated among the Banks holding Eurodollar Accounts and by such Bank are held pro rata Lenders ratably (as to principal amounts, Types, Types and Interest Periods) in accordance with their respective Commitment PercentagesCommitments.

Appears in 1 contract

Samples: Construction Loan Agreement (Vail Resorts Inc)

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan obligation of any Bank (hereinafter called "Affected Accounts") are Lender to make LIBOR Loans or to Continue, or to Convert Base Rate Loans into, LIBOR Loans shall be Converted suspended pursuant to Section 7.1 5.1.(c), Section 5.2., or Section 7.3 hereof, the Bank's Affected Accounts 5.3. then such Lender’s LIBOR Loans shall be automatically Converted into Base Rate Accounts Loans on the last day(s) of the then current Interest Period(s) for LIBOR Loans (or, in the case of a Conversion required by Section 7.1(b) 5.1.(c), Section 5.2., or Section 7.3 hereof, 5.3. on such earlier date as such Bank Lender or the Administrative Agent, as applicable, may specify to the Borrower (with a copy to the Administrative Agent, as applicable)) and, unless and until such Bank Lender or the Administrative Agent, as applicable, gives notice as provided below that the circumstances specified in Section 7.1 5.1., Section 5.2., or Section 7.3 hereof which 5.3. that gave rise to such Conversion no longer exist: (a) · to the extent that such Bank's Affected Accounts Lender’s LIBOR Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Bank's Affected Accounts Lender’s LIBOR Loans shall be applied instead to its Base Rate AccountsLoans; and (b) · all Accounts which Loans that would otherwise be established made or Continued by such Bank Lender as Eurodollar Accounts LIBOR Loans shall be made or Continued instead as or Converted into Base Rate Accounts Loans, and all Accounts Base Rate Loans of such Bank which Lender that would otherwise be Converted into Eurodollar Accounts shall be Converted instead into (or LIBOR Loans shall remain as) as Base Rate AccountsLoans. If such Bank Lender or the Administrative Agent, as applicable, gives notice to the Borrower (with a copy to the Administrative Agent, as applicable) that the circumstances specified in Section 7.1 5.1.(c) or Section 7.3 hereof which 5.3. that gave rise to the Conversion of such Bank's Affected Accounts Lender’s LIBOR Loans pursuant to this Section 7.4 no longer exist (which such Bank Lender or the Administrative Agent, as applicable, agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Accounts LIBOR Loans made by other Lenders are outstanding, then such Bank's Lender’s Base Rate Accounts Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Accounts LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Accounts Loans held by the Banks Lenders holding Eurodollar Accounts LIBOR Loans and by such Bank Lender are held pro rata (as to principal amounts, Types, Types and Interest Periods) in accordance with their respective Commitment Percentages.

Appears in 1 contract

Samples: Term Loan Agreement (RLJ Lodging Trust)

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan obligation of any Bank (hereinafter called "Affected Accounts") are Lender to make a Eurodollar Rate Loan or to Continue, or to Convert Loans of any other Type into, Loans of a particular Type shall be Converted suspended pursuant to Section 7.1 5.2 or Section 7.3 hereof5.3 hereof (Loans of such Type being herein called “Affected Loans” and such Type being herein called the “Affected Type”), the Bank's such Lender’s Affected Accounts Loans shall be automatically Converted into Base Rate Accounts Loans on the last day(s) of the then current Interest Period(s) for Affected Loans (or, in the case of a Conversion required by Section 7.1(b) or Section 7.3 5.3 hereof, on such earlier date as such Bank Lender may specify to the Borrower with a copy to the Agent) and, unless and until such Bank Lender gives notice as provided below that the circumstances specified in Section 7.1 5.2 or Section 7.3 5.3 hereof which that gave rise to such Conversion no longer exist: (a) to the extent that such Bank's Xxxxxx’s Affected Accounts Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Bank's Lender’s Affected Accounts Loans shall be applied instead to its Base Rate AccountsLoans; and (b) all Accounts which Loans that would otherwise be established made or Continued by such Bank Lender as Eurodollar Accounts Loans of the Affected Type shall be made or Continued instead as or Converted into Base Rate Accounts Loans, and all Accounts Loans of such Bank which Lender that would otherwise be Converted into Eurodollar Accounts Loans of the Affected Type shall be Converted instead into (or shall remain as) Base Rate AccountsLoans. If such Bank Lender gives notice to the Borrower (with a copy to the Agent) that the circumstances specified in Section 7.1 5.2 or Section 7.3 5.3 hereof which that gave rise to the Conversion of such Bank's Xxxxxx’s Affected Accounts Loans pursuant to this Section 7.4 5.4 no longer exist (which such Bank Xxxxxx agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Accounts Loans of the Affected Type made by other Lenders are outstanding, such Bank's Xxxxxx’s Base Rate Accounts Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Accounts Loans of the Affected Type, to the extent necessary so that, after giving effect thereto, all Accounts Loans held by the Banks Lenders holding Eurodollar Accounts Loans of the Affected Type and by such Bank Lender are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitment PercentagesRevolving Credit Commitments. 5.5.

Appears in 1 contract

Samples: Credit Agreement (Aircastle LTD)

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan obligation of any Bank (hereinafter called "Affected Accounts") are Lender to make LIBOR Rate Loans or to Continue, or to Convert Base Rate Loans into, LIBOR Rate Loans shall be Converted suspended pursuant to Section 7.1 4.1(b), 4.2 or Section 7.3 hereof4.3, the Bank's Affected Accounts then such Lender’s LIBOR Rate Loans shall be automatically Converted into Base Rate Accounts Loans on the last day(s) of the then current Interest Period(s) for LIBOR Rate Loans (or, in the case of a Conversion required by Section 7.1(b4.1(b) or Section 7.3 hereof4.3, on such earlier date as such Bank Lender may specify to the Borrower with a copy to the Agent) and, unless and until such Bank Lender gives notice as provided below that the circumstances specified in Section 7.1 4.1 or Section 7.3 hereof which 4.3 that gave rise to such Conversion no longer exist: (a) to a)to the extent that such Bank's Affected Accounts Lender’s LIBOR Rate Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Bank's Affected Accounts Lender’s LIBOR Rate Loans shall be applied instead to its Base Rate AccountsLoans; and (b) all Accounts which b)all Loans that would otherwise be established made or Continued by such Bank Lender as Eurodollar Accounts LIBOR Rate Loans shall be made or Continued instead as or Converted into Base Rate Accounts Loans, and all Accounts Base Rate Loans of such Bank which Lender that would otherwise be Converted into Eurodollar Accounts shall be Converted instead into (or LIBOR Rate Loans shall remain as) as Base Rate AccountsLoans. - 42 - If such Bank Lender gives notice to the Borrower (with a copy to the Agent) that the circumstances specified in Section 7.1 4.1 or Section 7.3 hereof which 4.3 that gave rise to the Conversion of such Bank's Affected Accounts Lender’s LIBOR Rate Loans pursuant to this Section 7.4 no longer exist (which such Bank Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Accounts LIBOR Rate Loans made by other Lenders are outstanding, then such Bank's Lender’s Base Rate Accounts Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Accounts LIBOR Rate Loans, to the extent necessary so that, after giving effect thereto, all Accounts Loans held by the Banks Lenders holding Eurodollar Accounts LIBOR Rate Loans and by such Bank Lender are held pro rata (as to principal amounts, Types, Types and Interest Periods) in accordance with their respective Commitment Percentages.Commitments. Section 4.7

Appears in 1 contract

Samples: Term Loan Agreement

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan of any Bank (hereinafter called "Affected Accounts") are to be Converted pursuant to Section 7.1 or Section 7.3 hereof, the Bank's Affected Accounts shall be automatically Converted into Base Rate Accounts on the last day(s) of the then current Interest Period(s) (or, in the case of a Conversion required by Section subsection 7.1(b) or Section 7.3 hereof, on such earlier date as such Bank may specify to the Borrower with a copy to the Agent) and, unless and until such Bank gives notice as provided below that the circumstances specified in Section 7.1 or Section 7.3 hereof which gave rise to such Conversion no longer exist: (a) to the extent that such Bank's Affected Accounts have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Bank's Affected Accounts shall be applied instead to its Base Rate Accounts; and (b) all Accounts which would otherwise be established or Continued by such Bank as Eurodollar Accounts shall be made as or Converted into Base Rate Accounts and all Accounts of such Bank which would otherwise be Converted into Eurodollar Accounts shall be Converted instead into (or shall remain as) Base Rate Accounts. If such Bank gives notice to the Borrower (with a copy to the Agent) that the circumstances specified in Section 7.1 or Section 7.3 hereof which gave rise to the Conversion of such Bank's Affected Accounts pursuant to this Section 7.4 no longer exist (which such Bank agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Accounts are outstanding, such Bank's Base Rate Accounts shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Accounts to the extent necessary so that, after giving effect thereto, all Accounts held by the Banks holding Eurodollar Accounts and by such Bank are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitment Percentages.

Appears in 1 contract

Samples: Security Agreement (Tufco Technologies Inc)

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan obligation of any Bank (hereinafter called "Affected Accounts") are Lender to make LIBOR Rate Loans or to Continue, or to Convert Base Rate Loans into, LIBOR Rate Loans shall be Converted suspended pursuant to Section 7.1 4.1(b), 4.2 or Section 7.3 hereof4.3, the Bank's Affected Accounts then such Lender’s LIBOR Rate Loans shall be automatically Converted into Base Rate Accounts Loans on the last day(s) of the then current Interest Period(s) for LIBOR Rate Loans (or, in the case of a Conversion required by Section 7.1(b4.1(b) or Section 7.3 hereof4.3, on such earlier date as such Bank Lender may specify to the Borrower with a copy to the Agent) and, unless and until such Bank Lender gives notice as provided below that the circumstances specified in Section 7.1 4.1 or Section 7.3 hereof which 4.3 that gave rise to such Conversion no longer exist: (a) to a)to the extent that such Bank's Affected Accounts Lender’s LIBOR Rate Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Bank's Affected Accounts Lender’s LIBOR Rate Loans shall be applied instead to its Base Rate AccountsLoans; and (b) all Accounts which b)all Loans that would otherwise be established made or Continued by such Bank Lender as Eurodollar Accounts LIBOR Rate Loans shall be made or Continued instead as or Converted into Base Rate Accounts Loans, and all Accounts Base Rate Loans of such Bank which Lender that would otherwise be Converted into Eurodollar Accounts shall be Converted instead into (or LIBOR Rate Loans shall remain as) as Base Rate AccountsLoans. 40 A/75663178.5 If such Bank Lender gives notice to the Borrower (with a copy to the Agent) that the circumstances specified in Section 7.1 4.1 or Section 7.3 hereof which 4.3 that gave rise to the Conversion of such Bank's Affected Accounts Lender’s LIBOR Rate Loans pursuant to this Section 7.4 no longer exist (which such Bank Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Accounts LIBOR Rate Loans made by other Lenders are outstanding, then such Bank's Lender’s Base Rate Accounts Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Accounts LIBOR Rate Loans, to the extent necessary so that, after giving effect thereto, all Accounts Loans held by the Banks Lenders holding Eurodollar Accounts LIBOR Rate Loans and by such Bank Lender are held pro rata (as to principal amounts, Types, Types and Interest Periods) in accordance with their respective Commitment Percentages.Commitments. Section 4.7

Appears in 1 contract

Samples: Term Loan Agreement

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan of any Bank (hereinafter called "Affected Accounts") are to be Converted pursuant to affected by Section 7.1 5.1 or Section 7.3 5.3 hereof, the Bank's Affected Accounts shall be automatically Converted into Base Rate Accounts on the last day(s) of the then current Interest Period(s) (or, in the case of a Conversion required by Section 7.1(bsubsection 5.1(b) or Section 7.3 5.3 hereof, on such earlier date as such Bank may specify to the Borrower with a copy to the Agent) and, unless and until such Bank gives notice as provided below that the circumstances specified in Section 7.1 5.1 or Section 7.3 5.3 hereof which gave rise to such Conversion no longer exist: (a) to the extent that such Bank's Affected Accounts have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Bank's Affected Accounts shall be applied instead to its Base Rate Accounts; and (b) all Accounts which would otherwise be established or Continued by such Bank as Eurodollar Libor Accounts shall be made as or Converted into Base Rate Accounts and all Accounts of such Bank which would otherwise be Converted into Eurodollar Libor Accounts shall be Converted instead into (or shall remain as) Base Rate Accounts. If such Bank gives notice to the Borrower (with a copy to the Agent) that the circumstances specified in Section 7.1 5.1 or Section 7.3 5.3 hereof which gave rise to the Conversion of such Bank's Affected Accounts pursuant to this Section 7.4 5.4 no longer exist (which such Bank agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Libor Accounts are outstanding, such Bank's Base Rate Accounts shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Libor Accounts to the extent necessary so that, after giving effect thereto, all Accounts held by the Banks holding Eurodollar Libor Accounts and by such Bank are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitment Percentages.

Appears in 1 contract

Samples: Credit Agreement (Richmont Marketing Specialists Inc)

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan obligation of any Bank (hereinafter called "Affected Accounts") are Lender to make a SOFR Loan or to Continue, or to Convert Loans of any other Type into, Loans of a particular Type shall be Converted suspended pursuant to Section 7.1 5.2 or Section 7.3 hereof5.3 hereof (Loans of such Type being herein called “Affected Loans” and such Type being herein called the “Affected Type”), the Bank's such Lender’s Affected Accounts Loans shall be automatically Converted into Base Rate Accounts Loans on the last day(s) of the then current Interest Period(s) for Affected Loans (or, in the case of a Conversion required by Section 7.1(b) or Section 7.3 5.3 hereof, on such earlier date as such Bank Lender may specify to the Borrower with a copy to the Agent) and, unless and until such Bank Xxxxxx gives notice as provided below that the circumstances specified in Section 7.1 5.2 or Section 7.3 5.3 hereof which that gave rise to such Conversion no longer exist: (a) to the extent that such Bank's Xxxxxx’s Affected Accounts Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Bank's Lender’s Affected Accounts Loans shall be applied instead to its Base Rate AccountsLoans; and (b) all Accounts which Loans that would otherwise be established made or Continued by such Bank Lender as Eurodollar Accounts Loans of the Affected Type shall be made or Continued instead as or Converted into Base Rate Accounts Loans, and all Accounts Loans of such Bank which Lender that would otherwise be Converted into Eurodollar Accounts Loans of the Affected Type shall be Converted instead into (or shall remain as) Base Rate AccountsLoans. If such Bank Lender gives notice to the Borrower (with a copy to the Agent) that the circumstances specified in Section 7.1 5.2 or Section 7.3 5.3 hereof which that gave rise to the Conversion of such Bank's Xxxxxx’s Affected Accounts Loans pursuant to this Section 7.4 5.4 no longer exist (which such Bank Xxxxxx agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Accounts Loans of the Affected Type made by other Lenders are outstanding, such Bank's Xxxxxx’s Base Rate Accounts Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Accounts Loans of the Affected Type, to the extent necessary so that, after giving effect thereto, all Accounts Loans held by the Banks Lenders holding Eurodollar Accounts Loans of the Affected Type and by such Bank Lender are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitment PercentagesRevolving Credit Commitments. 5.5.

Appears in 1 contract

Samples: Credit Agreement (Aircastle LTD)

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan of any Bank (hereinafter called "Affected Accounts") are to be Converted pursuant to Section 7.1 6.1 or Section 7.3 6.3 hereof, the Bank's Affected Accounts shall be automatically Converted into Base Rate Accounts on the last day(s) of the then current Interest Period(s) (or, in the case of a Conversion required by Section 7.1(bsubsection 6.1(b) or Section 7.3 6.3 hereof, on such earlier date as such Bank may specify to the Borrower with a copy to the Agent) and, unless and until such Bank gives notice as provided below that the circumstances specified in Section 7.1 6.1 or Section 7.3 6.3 hereof which gave rise to such Conversion no longer exist: (a) to the extent that such Bank's Affected Accounts have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Bank's Affected Accounts shall be applied instead to its Base Rate Accounts; and (b) all Accounts which would otherwise be established or Continued by such Bank as Eurodollar Accounts shall be made as or Converted into Base Rate Accounts and all Accounts of such Bank which would otherwise be Converted into Eurodollar Accounts shall be Converted instead into (or shall remain as) Base Rate Accounts. If such Bank gives notice to the Borrower (with a copy to the Agent) that the circumstances specified in Section 7.1 6.1 or Section 7.3 6.3 hereof which gave rise to the Conversion of such Bank's Affected Accounts pursuant to this Section 7.4 6.4 no longer exist (which such Bank agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Accounts are outstanding, such Bank's Base Rate Accounts shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Accounts to the extent necessary so that, after giving effect thereto, all Accounts held by the Banks holding Eurodollar Accounts and by such Bank are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitment Percentages.agrees

Appears in 1 contract

Samples: Credit Agreement (Horizon Health Corp /De/)

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan obligation of any Bank Lender Party to make a particular Type of Loan or to continue, or to convert Loans of any other Type into, Loans of a particular Type shall be suspended pursuant to Section 3.5, 3.6 or 3.7 (hereinafter Loans of such Type being herein called "Affected AccountsLoans" and such Type being herein called the ") are to be Converted pursuant to Section 7.1 or Section 7.3 hereofAffected Type"), the Banksuch Lender Party's Affected Accounts Loans shall be automatically Converted converted into Base Rate Accounts Loans on the last day(s) of the then current Interest Period(s) for Affected Loans (or, in the case of a Conversion required by Section 7.1(b) or Section 7.3 3.7 hereof, on such earlier date as such Bank Lender Party may specify to the Borrower with a copy to the Administrative Agent) and, unless and until such Bank Lender Party gives notice as provided below that the circumstances specified in Section 7.1 3.5, 3.6 or Section 7.3 hereof which 3.7 that gave rise to such Conversion no longer exist: 7. (a) to the extent that such BankLender Party's Affected Accounts Loans have been so Convertedconverted, all payments and prepayments of principal which that would otherwise be applied to such BankLender Party's Affected Accounts Loans shall be applied instead to its Base Rate AccountsLoans; and (b) (c) all Accounts which Loans that would otherwise be established made or Continued continued by such Bank Lender Party as Eurodollar Accounts Loans of the Affected Type shall be made or continued instead as or Converted into Base Rate Accounts Loans, and all Accounts Loans of such Bank which Lender Party that would otherwise be Converted converted into Eurodollar Accounts Loans of the Affected Type shall be Converted converted instead into (or shall remain as) Base Rate AccountsLoans. (d) (e) If such Bank Lender Party gives notice to the Borrower (with a copy to the Administrative Agent) that the circumstances specified in Section 7.1 3.5, 3.6 or Section 7.3 hereof which 3.7 that gave rise to the Conversion of such BankLender Party's Affected Accounts Loans pursuant to this Section 7.4 3.8 no longer exist (which such Bank Lender Party agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Accounts Loans of the Affected Type made by other Lender Parties are outstanding, such BankLender Party's Base Rate Accounts Loans shall be automatically Convertedconverted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Accounts Loans of the Affected Type, to the extent necessary so that, after giving effect thereto, all Accounts Loans held by the Banks Lender Parties holding Eurodollar Accounts Loans of the Affected Type and by such Bank Lender Party are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitment PercentagesPercentage Shares of the Facility Amount. (f) 8. Section 3.

Appears in 1 contract

Samples: Credit Agreement (Midcoast Energy Resources Inc)

Treatment of Affected Loans. If the Accounts applicable to a Revolving Loan obligation of any Bank (hereinafter called "Affected Accounts") are Lender to fund Eurodollar Rate Borrowings or to continue, or to convert Base Rate Borrowings into Eurodollar Rate Borrowings, shall be Converted suspended pursuant to Section 7.1 SECTIONS 4.1, 4.2, or Section 7.3 hereof4.3, the Banksuch Lender's Affected Accounts Eurodollar Rate Borrowings shall be automatically Converted converted into Base Rate Accounts Borrowings on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings (or, in the case of a Conversion conversion required by Section 7.1(b) or Section 7.3 hereofSECTION 4.3, on such earlier date as such Bank Lender may specify to the Borrower with a copy to the Administrative Agent) and, unless UNLESS and until such Bank Lender gives notice as provided below that the circumstances specified in Section 7.1 SECTIONS 4.1, 4.2, or Section 7.3 hereof which 4.3 that gave rise to such Conversion conversion no longer exist: (a) to To the extent that such BankLender's Affected Accounts Eurodollar Rate Borrowings have been so Convertedconverted, all payments and prepayments of principal which that would otherwise be applied to such BankLender's Affected Accounts Eurodollar Rate Borrowings shall be applied instead to its Base Rate AccountsBorrowings; and (b) all Accounts which All Borrowings that would otherwise be established made or Continued continued by such Bank Lender as Eurodollar Accounts Rate Borrowings shall be made or continued instead as or Converted into Base Rate Accounts Borrowings, and all Accounts Borrowings of such Bank which Lender that would otherwise be Converted converted into Eurodollar Accounts Rate Borrowings shall be Converted converted instead into (or shall remain as) Base Rate AccountsBorrowings. If such Bank Lender gives notice to the Borrower (with a copy to the Administrative Agent) that the circumstances specified in Section 7.1 SECTIONS 4.1, 4.2, or Section 7.3 hereof which 4.3 that gave rise to the Conversion conversion of such BankLender's Affected Accounts Eurodollar Rate Borrowings pursuant to this Section 7.4 SECTION 4.4 no longer exist (which such Bank Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Accounts Rate Borrowings made by other Lenders are outstanding, such BankLender's Base Rate Accounts Borrowings shall be automatically Convertedconverted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Accounts Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Accounts Eurodollar Rate Borrowings held by the Banks holding Eurodollar Accounts Lenders and by such Bank Lender are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitment PercentagesCommitted Sums for the applicable Facility.

Appears in 1 contract

Samples: Credit Agreement (Dutchess County Cellular Telephone Co Inc)

Treatment of Affected Loans. (a) If the Accounts applicable to a Revolving Loan obligation of any Bank (hereinafter called "Affected Accounts") are Lender to make LIBOR Loans or to Continue, or to Convert Base Rate Loans into, LIBOR Loans shall be Converted suspended pursuant to Section 7.1 4.1.(c), Section 4.2. or Section 7.3 hereof, the Bank's Affected Accounts 4.3. then such Lender’s LIBOR Loans shall be automatically Converted into Base Rate Accounts Loans on the last day(s) of the then current Interest Period(s) for LIBOR Loans (or, in the case of a Conversion required by Section 7.1(b) 4.1.(c), Section 4.2., or Section 7.3 hereof, 4.3. on such earlier date as such Bank Lender or the Administrative Agent, as applicable, may specify to the Borrower (with a copy to the Administrative Agent, as applicable)) and, unless and until such Bank Lender or the Administrative Agent, as applicable, gives notice as provided below that the circumstances specified in Section 7.1 4.1., Section 4.2. or Section 7.3 hereof which 4.3. that gave rise to such Conversion no longer exist: (ai) to the extent that such Bank's Affected Accounts Lender’s LIBOR Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Bank's Affected Accounts Lender’s LIBOR Loans shall be applied instead to its Base Rate AccountsLoans; and (bii) all Accounts which Loans that would otherwise be established made or Continued by such Bank Lender as Eurodollar Accounts LIBOR Loans shall be made or Continued instead as or Converted into Base Rate Accounts Loans, and all Accounts Base Rate Loans of such Bank which Lender that would otherwise be Converted into Eurodollar Accounts shall be Converted instead into (or LIBOR Loans shall remain as) as Base Rate AccountsLoans. If such Bank Lender or the Administrative Agent, as applicable, gives notice to the Borrower (with a copy to the Administrative Agent, as applicable) that the circumstances specified in Section 7.1 4.1.(c), 4.2. or Section 7.3 hereof which 4.3. that gave rise to the Conversion of such Bank's Affected Accounts Lender’s LIBOR Loans pursuant to this Section 7.4 no longer exist (which such Bank Lender or the Administrative Agent, as applicable, agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Accounts LIBOR Loans made by other Lenders are outstanding, then such Bank's Lender’s Base Rate Accounts Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Accounts LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Accounts Loans of the applicable Class held by the Banks Lenders holding Eurodollar Accounts LIBOR Loans and by such Bank Lender are held pro rata (as to principal amounts, Types, Types and Interest Periods) in accordance with their respective Commitment PercentagesCommitments. (b) If the obligation of a Revolving Lender to make LIBOR Margin Loans shall be suspended pursuant to Section 4.1.(c) or 4.2., then the LIBOR Margin Loans of such Lender shall be automatically due and payable on such date as such Lender may specify to the Borrower by written notice with a copy to the Administrative Agent; provided that if such notice is delivered after 10:00 a.m. Eastern time, then such LIBOR Margin Loan shall be due and payable no earlier than the first Business Day following the date such notice is delivered. Section 4.6.

Appears in 1 contract

Samples: Credit Agreement (Washington Real Estate Investment Trust)

Time is Money Join Law Insider Premium to draft better contracts faster.