Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings or to continue, or to convert Base Rate Borrowings into Eurodollar Rate Borrowings, shall be suspended pursuant to SECTIONS 4.1, 4.2, or 4.3 hereof, such Lender's Eurodollar Rate Borrowings shall be automatically converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings (or, in the case of a conversion required by SECTION 4.3 hereof, on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof that gave rise to such conversion no longer exist: (a) to the extent that such Lender's Eurodollar Rate Borrowings have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and (b) all Borrowings that would otherwise be made or continued by such Lender as Eurodollar Rate Borrowings shall be made or continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or shall remain as) Base Rate Borrowings. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof that gave rise to the conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, such Lender's Base Rate Borrowings shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitments.
Appears in 6 contracts
Samples: Credit Agreement (Dobson Sygnet Communications Co), Revolving Credit and Term Loan Agreement (Dobson Communications Corp), Revolving Credit Agreement (Integrated Orthopedics Inc)
Treatment of Affected Loans. If the obligation of any Lender to fund make any Eurodollar Rate Borrowings Loan or to continueContinue, or to convert Convert Base Rate Borrowings into Loans into, Eurodollar Rate Borrowings, Loans shall be suspended pursuant to SECTIONS 4.1Section 3.7, 4.2, 3.8 or 4.3 3.9 hereof, such Lender's Eurodollar Rate Borrowings Loans shall be automatically converted Converted into Base Rate Borrowings Loans on the last day(s) of the then current Interest Period(s) for such Eurodollar Rate Borrowings Loans (or, in the case of a conversion Conversion required by SECTION 4.3 hereofSection 3.8, on such earlier date as required by law as such Lender may specify to the Borrower with a copy to Administrative the Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1Section 3.7, 4.2, 3.8 or 4.3 3.9 hereof that gave rise to such conversion Conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings Loans have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings Loans shall be applied instead to its Base Rate BorrowingsLoans; and
(b) all Borrowings Loans that would otherwise be made or continued Continued by such Lender as Eurodollar Rate Borrowings Loans shall be made or continued Continued instead as Base Rate BorrowingsLoans, and all Borrowings Base Rate Loans of such Lender that would otherwise be converted Converted into Eurodollar Rate Borrowings shall be converted instead into (or Loans shall remain as) as Base Rate BorrowingsLoans. If such Lender gives notice to the Borrower (with a copy to Administrative the Agent) that the circumstances specified in SECTIONS 4.1Section 3.7, 4.2, 3.8 or 4.3 3.9 hereof that gave rise to the conversion Conversion of such Lender's Eurodollar Rate Borrowings Loans pursuant to this SECTION 4.4 Section 3.10 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings Loans made by other Lenders are outstanding, such Lender's Base Rate Borrowings Loans shall be automatically convertedConverted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate BorrowingsLoans, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings Loans held by the Lenders holding Eurodollar Loans and by such Lender are held pro rata (as to principal amounts, Typesinterest rate basis, and Interest Periods) in accordance with their respective Commitments.
Appears in 3 contracts
Samples: Credit Agreement (Mg Waldbaum Co), Credit Agreement (Mg Waldbaum Co), Credit Agreement (Michael Foods Inc /Mn)
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar make any Eurocurrency Rate Borrowings Loan or to continue, or to convert Base Rate Borrowings into Eurodollar Loans into, Eurocurrency Rate Borrowings, Loans shall be suspended pursuant to SECTIONS 4.1, 4.2, Section 3.8 or 4.3 3.9 hereof, such Lender's Eurodollar ’s Eurocurrency Rate Borrowings Loans shall be automatically converted into Base Rate Borrowings Loans on the last day(s) of the then current Interest Period(s) for Eurodollar such Eurocurrency Rate Borrowings Loans (or, in the case of a conversion required by SECTION 4.3 Section 3.8 hereof, on such earlier date as such Lender may specify to the Borrower with a copy to the Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, Section 3.8 or 4.3 3.9 hereof that gave rise to such conversion no longer exist:
(a) to the extent that such Lender's Eurodollar ’s Eurocurrency Rate Borrowings Loans have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar ’s Eurocurrency Rate Borrowings Loans shall be applied instead to its Base Rate BorrowingsLoans; and
(b) all Borrowings Loans that would otherwise be made or continued by such Lender as Eurodollar Eurocurrency Rate Borrowings Loans shall be made or continued instead as Base Rate BorrowingsLoans, and all Borrowings Base Rate Loans of such Lender that would otherwise be converted into Eurodollar Eurocurrency Rate Borrowings shall be converted instead into (or Loans shall remain as) as Base Rate BorrowingsLoans. If such Lender gives notice to the Borrower (with a copy to the Administrative Agent) that the circumstances specified in SECTIONS 4.1, 4.2, Section 3.8 or 4.3 3.9 hereof that gave rise to the conversion of such Lender's Eurodollar ’s Eurocurrency Rate Borrowings Loans pursuant to this SECTION 4.4 Section 3.10 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Eurocurrency Rate Borrowings Loans made by other Lenders are outstanding, such Lender's ’s Base Rate Borrowings Loans shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Eurocurrency Rate BorrowingsLoans, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings Loans held by the Lenders holding Eurocurrency Rate Loans and by such Lender are held pro rata (as to principal amounts, Typesinterest rate basis, and Interest Periods) in accordance with their respective Commitments.
Appears in 3 contracts
Samples: Credit Agreement (Cree, Inc.), Credit Agreement (Cree Inc), Credit Agreement (Cree Inc)
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings or to continue, or to convert Base Rate Borrowings into Eurodollar Rate Borrowings, shall be suspended pursuant to SECTIONS 4.1, 4.2, or 4.3 hereof, such Lender's Eurodollar Rate Borrowings shall be automatically converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings (or, in the case of a conversion required by SECTION 4.3 hereof, on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof that gave rise to such conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and
(b) all Borrowings that would otherwise be made or continued by such Lender as Eurodollar Rate Borrowings shall be made or continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or shall remain as) Base Rate Borrowings. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof that gave rise to the conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, such Lender's Base Rate Borrowings shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective CommitmentsCommitted Sums.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Northern Border Partners Lp), Revolving Credit Agreement (Pier 1 Imports Inc/De)
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings make LIBOR Loans or to continueContinue, or to convert Convert Base Rate Borrowings into Eurodollar Rate BorrowingsLoans into, LIBOR Loans shall be suspended pursuant to SECTIONS 4.1, 4.2, Section 4.1(c) or Section 4.3 hereof, then such Lender's Eurodollar Rate Borrowings ’s LIBOR Loans shall be automatically converted Converted into Base Rate Borrowings Loans on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings LIBOR Loans (or, in the case of a conversion Conversion required by SECTION Section 4.1(c) or Section 4.3 hereof, on such earlier date as such 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 Lender or the Administrative Agent, as applicable, gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, Section 4.1(c) or Section 4.3 hereof that gave rise to such conversion Conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings ’s LIBOR Loans have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings ’s LIBOR Loans shall be applied instead to its Base Rate BorrowingsLoans; and
(b) all Borrowings Loans that would otherwise be made or continued Continued by such Lender as Eurodollar Rate Borrowings LIBOR Loans shall be made or continued Continued instead as Base Rate BorrowingsLoans, and all Borrowings Base Rate Loans of such Lender that would otherwise be converted Converted into Eurodollar Rate Borrowings shall be converted instead into (or LIBOR Loans shall remain as) as Base Rate BorrowingsLoans. If such 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 SECTIONS 4.1, 4.2, Section 4.1(c) or Section 4.3 hereof that gave rise to the conversion Conversion of such Lender's Eurodollar Rate Borrowings ’s LIBOR Loans pursuant to this SECTION 4.4 Section no longer exist (which such Lender or the Administrative Agent, as applicable, agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings LIBOR Loans made by other Lenders are outstanding, then such Lender's ’s Base Rate Borrowings Loans shall be automatically convertedConverted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate BorrowingsLIBOR Loans, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings Loans held by the Lenders holding LIBOR Loans and by such Lender are held pro rata (as to principal amounts, Types, Types and Interest Periods) in accordance with their the respective Commitmentsunpaid principal amount of the Loans held by each of the Lenders.
Appears in 2 contracts
Samples: Credit Agreement (Pennsylvania Real Estate Investment Trust), Credit Agreement (Pennsylvania Real Estate Investment Trust)
Treatment of Affected Loans. If the obligation of any Lender to fund make any Eurodollar Rate Borrowings Loan or to continueContinue, or to convert Convert Base Rate Borrowings into Loans into, Eurodollar Rate Borrowings, Loans shall be suspended pursuant to SECTIONS 4.1Section 3.7, 4.2, 3.8 or 4.3 3.9 hereof, such Lender's ’s Eurodollar Rate Borrowings Loans shall be automatically converted Converted into Base Rate Borrowings Loans on the last day(s) of the then current Interest Period(s) for such Eurodollar Rate Borrowings Loans (or, in the case of a conversion Conversion required by SECTION 4.3 hereofSection 3.8, on such earlier date as required by law as such Lender may specify to the Borrower with a copy to the Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1Section 3.7, 4.2, 3.8 or 4.3 3.9 hereof that gave rise to such conversion Conversion no longer exist:
(a) to the extent that such Lender's ’s Eurodollar Rate Borrowings Loans have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's ’s Eurodollar Rate Borrowings Loans shall be applied instead to its Base Rate BorrowingsLoans; and
(b) all Borrowings Loans that would otherwise be made or continued Continued by such Lender as Eurodollar Rate Borrowings Loans shall be made or continued Continued instead as Base Rate BorrowingsLoans, and all Borrowings Base Rate Loans of such Lender that would otherwise be converted Converted into Eurodollar Rate Borrowings shall be converted instead into (or Loans shall remain as) as Base Rate BorrowingsLoans. If such Lender gives notice to the Borrower (with a copy to the Administrative Agent) that the circumstances specified in SECTIONS 4.1Section 3.7, 4.2, 3.8 or 4.3 3.9 hereof that gave rise to the conversion Conversion of such Lender's ’s Eurodollar Rate Borrowings Loans pursuant to this SECTION 4.4 Section 3.10 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings Loans made by other Lenders are outstanding, such Lender's ’s Base Rate Borrowings Loans shall be automatically convertedConverted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate BorrowingsLoans, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings Loans held by the Lenders holding Eurodollar Loans and by such Lender are held pro rata (as to principal amounts, Typesinterest rate basis, and Interest Periods) in accordance with their respective Commitments.
Appears in 2 contracts
Samples: Credit Agreement (Birds Eye Foods, Inc.), Credit Agreement (Birds Eye Foods, Inc.)
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings or to continue, or to convert Base Rate Borrowings into Eurodollar Rate Borrowings, shall be suspended pursuant to SECTIONS 4.13.15, 4.23.16, or 4.3 3.17 hereof, such Lender's Eurodollar Rate Borrowings shall be automatically converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings (or, in the case of a conversion required by SECTION 4.3 3.17 hereof, on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.13.15, 4.23.16, or 4.3 3.17 hereof that gave rise to such conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and
(b) all Borrowings that would otherwise be made or continued by such Lender as Eurodollar Rate Borrowings shall be made or continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or shall remain as) Base Rate Borrowings. AMENDED AND RESTATED 364-DAY REVOLVING CREDIT AND TERM LOAN AGREEMENT If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS 4.13.15, 4.23.16, or 4.3 3.17 hereof that gave rise to the conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION 4.4 3.18 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, such Lender's Base Rate Borrowings shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata Pro Rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitments.
Appears in 1 contract
Samples: 364 Day Revolving Credit and Term Loan Agreement (Mci Worldcom Inc)
Treatment of Affected Loans. If the obligation of any Lender to fund make or Continue Eurodollar Rate Borrowings or to continue, or to convert Base Convert Prime Rate Borrowings into Eurodollar Rate Borrowings, Borrowings shall be suspended pursuant to SECTIONS SECTION 4.1, 4.2, or 4.3 hereof4.3, then such Lender's Eurodollar Rate Borrowings shall be automatically converted Converted into Base Prime Rate Borrowings on the last day(s) of the then current Interest LETTER OF CREDIT AND REIMBURSEMENT AGREEMENT 31 Period(s) for all Eurodollar Rate Borrowings (or, in the case of a conversion Conversion required by SECTION 4.3 hereof4.3, on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS SECTION 4.1, 4.2, or 4.3 hereof that gave rise to such conversion Conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Prime Rate Borrowings; and
(b) all Borrowings that would otherwise be made or continued Continued by such Lender as Eurodollar Rate Borrowings shall be made or continued Continued instead as Base Prime Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted Converted into Eurodollar Rate Borrowings shall be converted Converted instead into (or shall remain as) Base Prime Rate Borrowings. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS SECTION 4.1, 4.2, or 4.3 hereof that gave rise to the conversion Conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, then such Lender's Base Prime Rate Borrowings shall be automatically convertedConverted, on the first (1st) day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata Pro Rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitments).
Appears in 1 contract
Samples: Letter of Credit and Reimbursement Agreement (Centex Corp)
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings or to continue, or to convert Base continue Eurodollar Rate Borrowings into Eurodollar Rate Borrowings, shall be suspended pursuant to SECTIONS 4.1, 4.2, or 4.3 hereof, such Lender's Eurodollar Rate Borrowings shall be automatically converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings (or, in the case of a conversion required by SECTION 4.3 hereof, on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof that gave rise to such conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; andand Senior Secured Term Loan
(b) all Eurodollar Rate Borrowings that would otherwise be made or continued by such Lender as Eurodollar Rate Borrowings shall be made or continued instead as Base Rate Borrowings, and all Base Rate Borrowings of such Lender that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or shall remain as) Base Rate Borrowings. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof that gave rise to the conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, such Lender's Base Rate Borrowings shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata (as to principal amounts, Types, amounts and Interest Periods) in accordance with their respective Commitmentsratable shares of the Aggregate Senior Secured Discount Note Stated Amount .
Appears in 1 contract
Samples: Senior Secured Term Loan Agreement (America West Holdings Corp)
Treatment of Affected Loans. If the obligation of any Lender to fund make or Continue Eurodollar Rate Borrowings or to continue, or to convert Base Convert Prime Rate Borrowings into Eurodollar Rate Borrowings, Borrowings shall be suspended pursuant to SECTIONS SECTION 4.1, 4.2, or 4.3 hereof4.3, then such Lender's Eurodollar Rate Borrowings shall be automatically converted Converted into Base Prime Rate Borrowings on the last day(s) of the then current Interest Period(s) for all Eurodollar Rate Borrowings (or, in the case of a conversion Conversion required by SECTION 4.3 hereof4.3, on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS SECTION 4.1, 4.2, or 4.3 hereof that gave rise to such conversion Conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Prime Rate Borrowings; and
(b) all Borrowings that would otherwise be made or continued Continued by such Lender as Eurodollar Rate Borrowings shall be made or continued Continued instead as Base Prime Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted Converted into Eurodollar Rate Borrowings shall be converted Converted instead into (or shall remain as) Base Prime Rate Borrowings. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS SECTION 4.1, 4.2, or 4.3 hereof that gave rise to the conversion Conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, then such Lender's Base Prime Rate Borrowings shall be automatically convertedConverted, on the first (1st) day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata Pro Rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitments).
Appears in 1 contract
Treatment of Affected Loans. If the obligation of any Lender to fund make or Continue Eurodollar Rate Borrowings or to continue, or to convert Convert Base Rate Borrowings into Eurodollar Rate Borrowings, Borrowings shall be suspended pursuant to SECTIONS 4.13.14, 4.23.15, or 4.3 hereof3.16, such Lender's Eurodollar Rate Borrowings shall be automatically converted Converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for all Eurodollar Rate Borrowings (or, in the case of a conversion Conversion required by SECTION 4.3 hereof3.16, on such earlier date as such Lender may specify to Borrower Borrowers with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.13.14, 4.23.15, or 4.3 hereof 3.16 that gave rise to such conversion Conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and
(b) all Borrowings that would otherwise be made or continued Continued by such Lender as Eurodollar Rate Borrowings shall be made or continued Continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted Converted into Eurodollar Rate Borrowings shall be converted Converted instead into (or shall remain as) Base Rate Borrowings. If such Lender gives notice to Borrower Borrowers (with a copy to Administrative Agent) that the circumstances specified in SECTIONS 4.13.14, 4.23.15, or 4.3 hereof 3.16 that gave rise to the conversion Conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION 4.4 3.17 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding), such Lender's Base Rate Borrowings shall be automatically convertedConverted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata Pro Rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitments).
Appears in 1 contract
Treatment of Affected Loans. If the obligation of any Lender to fund make any Eurodollar Rate Borrowings Loan or to continue, or to convert Base Rate Borrowings into Loans into, Eurodollar Rate Borrowings, Loans shall be suspended pursuant to SECTIONS 4.1, 4.2, Section 3.8 or 4.3 3.9 hereof, such Lender's ’s Eurodollar Rate Borrowings Loans shall be automatically converted into Base Rate Borrowings Loans on the last day(s) of the then current Interest Period(s) for such Eurodollar Rate Borrowings Loans (or, in the case of a conversion required by SECTION 4.3 Section 3.8 hereof, on such earlier date as such Lender may specify to the Borrower with a copy to Administrative the Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, Section 3.8 or 4.3 3.9 hereof that gave rise to such conversion no longer exist:
(a) to the extent that such Lender's ’s Eurodollar Rate Borrowings Loans have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's ’s Eurodollar Rate Borrowings Loans shall be applied instead to its Base Rate BorrowingsLoans; and
(b) all Borrowings Loans that would otherwise be made or continued by such Lender as Eurodollar Rate Borrowings Loans shall be made or continued instead as Base Rate BorrowingsLoans, and all Borrowings Base Rate Loans of such Lender that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or Loans shall remain as) as Base Rate BorrowingsLoans. If such Lender gives notice to the Borrower (with a copy to Administrative the Agent) that the circumstances specified in SECTIONS 4.1, 4.2, Section 3.8 or 4.3 3.9 hereof that gave rise to the conversion of such Lender's ’s Eurodollar Rate Borrowings Loans pursuant to this SECTION 4.4 Section 3.10 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings Loans made by other Lenders are outstanding, such Lender's ’s Base Rate Borrowings Loans shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate BorrowingsLoans, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings Loans of each Class held by the Lenders holding Eurodollar Loans and by such Lender are held pro rata (as to principal amounts, Typesinterest rate basis, and Interest Periods) in accordance with their respective Revolving Commitments or Single-Draw Commitments, as applicable.
Appears in 1 contract
Treatment of Affected Loans. If the obligation of any Lender Party to fund Eurodollar Rate Borrowings make a particular Type of Loan or to continue, or to convert Base Rate Borrowings into Eurodollar Rate BorrowingsLoans of any other Type into, Loans of a particular Type shall be suspended pursuant to SECTIONS 4.1Sections 2.2, 4.2, 2.3 or 4.3 hereof2.4 hereof (Loans of such Type being herein called "AFFECTED LOANS" and such Type being herein called the "AFFECTED TYPE"), such LenderLender Party's Eurodollar Rate Borrowings Affected Loans shall be automatically converted into Base Rate Borrowings Loans on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings Affected Loans (or, in the case of a conversion Conversion required by SECTION 4.3 Section 3.4 hereof, on such earlier date as such Lender Party may specify to Borrower with a copy to Administrative Agent) and, unless and until such Lender Party gives notice as provided below that the circumstances specified in SECTIONS 4.1Sections 2.2, 4.2, 2.3 or 4.3 2.4 hereof that gave rise to such conversion Conversion no longer exist:
(a) to the extent that such LenderLender Party's Eurodollar Rate Borrowings Affected Loans have been so converted, all payments and prepayments of principal that would otherwise be applied to such LenderLender Party's Eurodollar Rate Borrowings Affected Loans shall be applied instead to its Base Rate BorrowingsLoans; and
(b) all Borrowings Loans that would otherwise be made or continued by such Lender Party as Eurodollar Rate Borrowings Loans of the Affected Type shall be made or continued instead as Base Rate BorrowingsLoans, and all Borrowings Loans of such Lender Party that would otherwise be converted into Eurodollar Rate Borrowings Loans of the Affected Type shall be converted instead into (or shall remain as) Base Rate BorrowingsLoans. If such Lender Party gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS 4.1Section 2.2, 4.2, 2.3 or 4.3 2.4 hereof that gave rise to the conversion Conversion of such LenderLender Party's Eurodollar Rate Borrowings Affected Loans pursuant to this SECTION 4.4 Section no longer exist (which such Lender Party agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings Loans of the Affected Type made by other Lenders Lender Parties are outstanding, such LenderLender Party's Base Rate Borrowings Loans shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate BorrowingsLoans of the Affected Type, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings Loans held by the Lenders Lender Parties holding Loans of the Affected Type and by such Lender Party are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective CommitmentsPercentage Shares of the Maximum Credit Amount.
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Treatment of Affected Loans. If the obligation of any Lender to fund make any Eurodollar Rate Borrowings Loan or to continueContinue, or to convert Convert Base Rate Borrowings into Loans into, Eurodollar Rate Borrowings, Loans shall be suspended pursuant to SECTIONS 4.1Section 3.7, 4.2, 3.8 or 4.3 3.9 hereof, such Lender's Eurodollar Rate Borrowings Loans shall be automatically converted Converted into Base Rate Borrowings Loans on the last day(s) of the then current Interest Period(s) for such Eurodollar Rate Borrowings Loans (or, in the case of a conversion Conversion required by SECTION 4.3 hereofSection 3.8, on such earlier date as required by law as such Lender may specify to the Borrower with a copy to the Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1Section 3.7, 4.2, 3.8 or 4.3 3.9 hereof that gave rise to such conversion Conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings Loans have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings Loans shall be applied instead to its Base Rate BorrowingsLoans; and
(b) all Borrowings Loans that would otherwise be made or continued Continued by such Lender as Eurodollar Rate Borrowings Loans shall be made or continued Continued instead as Base Rate BorrowingsLoans, and all Borrowings Base Rate Loans of such Lender that would otherwise be converted Converted into Eurodollar Rate Borrowings shall be converted instead into (or Loans shall remain as) as Base Rate BorrowingsLoans. If such Lender gives notice to the Borrower (with a copy to the Administrative Agent) that the circumstances specified in SECTIONS 4.1Section 3.7, 4.2, 3.8 or 4.3 3.9 hereof that gave rise to the conversion Conversion of such Lender's Eurodollar Rate Borrowings Loans pursuant to this SECTION 4.4 Section 3.10 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings Loans made by other Lenders are outstanding, such Lender's Base Rate Borrowings Loans shall be automatically convertedConverted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate BorrowingsLoans, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings Loans held by the Lenders holding Eurodollar Loans and by such Lender are held pro rata (as to principal amounts, Typesinterest rate basis, and Interest Periods) in accordance with their respective Commitments.
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Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings or to continue, or to convert Base Rate Borrowings into Eurodollar Rate Borrowings, shall be suspended pursuant to SECTIONS Sections 4.1, 4.2, or 4.3 hereof, such Lender's Eurodollar Rate Borrowings shall be automatically converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings (or, in the case of a conversion required by SECTION Section 4.3 hereof, on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS Sections 4.1, 4.2, or 4.3 hereof that gave rise to such conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and
(b) all Borrowings that would otherwise be made or continued by such Lender as Eurodollar Rate Borrowings shall be made or continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or shall remain as) Base Rate Borrowings. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS Sections 4.1, 4.2, or 4.3 hereof that gave rise to the conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION Section 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, such Lender's Base Rate Borrowings shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective CommitmentsCommitted Sums.
Appears in 1 contract
Samples: Revolving Credit Agreement (Northern Border Partners Lp)
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings make any Eurocurrency Loan or to continue, or to convert Base Rate Borrowings into Eurodollar Rate BorrowingsLoans into, Eurocurrency Loans shall be suspended pursuant to SECTIONS 4.1, 4.2, Section 3.8 or 4.3 3.9 hereof, such Lender's Eurodollar Rate Borrowings Eurocurrency Loans shall be automatically converted into Base Rate Borrowings Loans on the 39 57 last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings such Eurocurrency Loans (or, in the case of a conversion required by SECTION 4.3 Section 3.8 hereof, on such earlier date as such Lender may specify to the Borrower with a copy to Administrative the Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, Section 3.8 or 4.3 3.9 hereof that gave rise to such conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings Eurocurrency Loans have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings Eurocurrency Loans shall be applied instead to its Base Rate BorrowingsLoans; and
(b) all Borrowings Loans that would otherwise be made or continued by such Lender as Eurodollar Rate Borrowings Eurocurrency Loans shall be made or continued instead as Base Rate BorrowingsLoans, and all Borrowings Base Rate Loans of such Lender that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or Eurocurrency Loans shall remain as) as Base Rate BorrowingsLoans. If such Lender gives notice to the Borrower (with a copy to Administrative the Agent) that the circumstances specified in SECTIONS 4.1, 4.2, Section 3.8 or 4.3 3.9 hereof that gave rise to the conversion of such Lender's Eurodollar Rate Borrowings Eurocurrency Loans pursuant to this SECTION 4.4 Section 3.10 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings Eurocurrency Loans made by other Lenders are outstanding, such Lender's Base Rate Borrowings Loans shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate BorrowingsEurocurrency Loans, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings Loans held by the Lenders holding Eurocurrency Loans and by such Lender are held pro rata (as to principal amounts, Typesinterest rate basis, and Interest Periods) in accordance with their respective Commitments.
Appears in 1 contract
Samples: Syndication Amendment and Assignment (Profit Recovery Group International Inc)
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings or to continue, or to convert Base Rate Borrowings into Eurodollar Rate Borrowings, shall be suspended pursuant to SECTIONS 4.1, 4.2, or 4.3 hereof, such Lender's Eurodollar Rate Borrowings shall be automatically converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings (or, in the case of a conversion required by SECTION 4.3 hereof, on such earlier date as such Lender may specify to Borrower Borrowers with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof that gave rise to such conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and
(b) all Borrowings that would otherwise be made or continued by such Lender as Eurodollar Rate Borrowings shall be made or continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or shall remain as) Base Rate Borrowings. If such Lender gives notice to Borrower Borrowers (with a copy to Administrative Agent) that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof that gave rise to the conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, such Lender's Base Rate Borrowings shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective CommitmentsCommitted Sums.
Appears in 1 contract
Samples: Revolving Credit Agreement (Affiliated Computer Services Inc)
Treatment of Affected Loans. If the obligation of any Lender Bank to fund Eurodollar make a LIBOR Rate Borrowings Loan or to continuecontinue any LIBOR Rate Loan, or to convert any Alternate Base Rate Borrowings Loan into Eurodollar a LIBOR Rate Borrowings, shall be Loan is suspended pursuant to SECTIONS 4.1, 4.2, or 4.3 hereofthis section 9 (any such Loan being an "Affected Loan"), such LenderBank's Eurodollar Rate Borrowings Affected Loans shall be automatically and immediately be converted into Alternate Base Rate Borrowings Loans on the last day(s) days of the then current Interest Period(s) for Eurodollar Rate Borrowings Periods therefor (or, in the case of a conversion required by SECTION 4.3 hereofsection 9.04, on such earlier date as such Lender Bank may specify to the Borrower with a copy to Administrative the Agent) and, unless and until such Lender Bank gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof section 9 that gave rise to such conversion no longer exist:
(a) to the extent that such LenderBank's Eurodollar Rate Borrowings Affected Loans have been so converted, all payments and prepayments of principal that would otherwise be applied to such LenderBank's Eurodollar Rate Borrowings Affected Loans shall continue to be made and applied instead to its Base Rate Borrowingsas provided for herein; and
(b) all Borrowings Loans that would otherwise be made or continued by such Lender Bank as Eurodollar LIBOR Rate Borrowings Loans shall be made or continued continue instead as Alternate Base Rate BorrowingsLoans, and all Borrowings Loans of such Lender Bank that would otherwise be converted into Eurodollar LIBOR Rate Borrowings Loans shall be converted instead into (or shall remain as) Alternate Base Rate BorrowingsLoans. If such Lender Bank gives notice to the Borrower (with a copy to Administrative the Agent) that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof section 9 that gave rise to the conversion of such LenderBank's Eurodollar Rate Borrowings Affected Loans pursuant to this SECTION 4.4 section 9.07 no longer exist (which such Lender Bank agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings Loans of the Type of the Affected Loans made by other Lenders Banks are outstanding, such LenderBank's Alternate Base Rate Borrowings Loans shall be automatically converted, on the first day(s) day of the next succeeding Interest Period(s) Period for such outstanding Eurodollar Rate BorrowingsLoans of the Type of the Affected Loans, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings Loans held by Banks holding Loans of the Lenders Type of the Affected Loans and by such Lender Bank are held pro rata (as to principal amounts, Types, type of interest and Interest Periods) in accordance with their respective Commitments.
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Treatment of Affected Loans. If the obligation of any Lender to fund make or Continue Eurodollar Rate Borrowings or to continue, or to convert Convert Base Rate Borrowings into Eurodollar Rate Borrowings, Borrowings shall be suspended pursuant to SECTIONS 4.1Sections 3.14, 4.23.15, or 4.3 hereof3.16, such Lender's Eurodollar Rate Borrowings shall be automatically converted Converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for all Eurodollar Rate Borrowings (or, in the case of a conversion Conversion required by SECTION 4.3 hereofSection 3.16, on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1Sections 3.14, 4.23.15, or 4.3 hereof 3.16 that gave rise to such conversion Conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and
(b) all Borrowings that would otherwise be made or continued Continued by such Lender as Eurodollar Rate Borrowings shall be made or continued Continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted Converted into Eurodollar Rate Borrowings shall be converted Converted instead into (or shall remain as) Base Rate Borrowings. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS 4.1Sections 3.14, 4.23.15, or 4.3 hereof 3.16 that gave rise to the conversion Conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION 4.4 Section 3.17 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, such Lender's Base Rate Borrowings shall be automatically convertedConverted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata Pro Rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitments).
Appears in 1 contract
Samples: Credit Agreement (American Industrial Properties Reit Inc)
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings or to continue, or to convert Base Rate Borrowings into Eurodollar Rate Borrowings, shall be suspended pursuant to SECTIONS Sections 4.1, 4.2, or 4.3 hereof, such Lender's Eurodollar Rate Borrowings shall be automatically converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings (or, in the case of a conversion required by SECTION Section 4.3 hereof, on such earlier date as such Lender may specify to Borrower the Company with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS Sections 4.1, 4.2, or 4.3 hereof that gave rise to such conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and
(b) all Borrowings that would otherwise be made or continued by such Lender as Eurodollar Rate Borrowings shall be made or continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or shall remain as) Base Rate Borrowings. If such Lender gives notice to Borrower the Company (with a copy to Administrative Agent) that the circumstances specified in SECTIONS Sections 4.1, 4.2, or 4.3 hereof that gave rise to the conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION Section 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, such Lender's Base Rate Borrowings shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata Pro Rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitments).
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Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings or to continue, or to convert Base Rate Borrowings into Eurodollar Rate Borrowings, shall be suspended pursuant to SECTIONS 4.13.15, 4.23.16, or 4.3 3.17 hereof, such Lender's Eurodollar Rate Borrowings shall be automatically converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) 364-DAY REVOLVING CREDIT AGREEMENT for Eurodollar Rate Borrowings (or, in the case of a conversion required by SECTION 4.3 3.17 hereof, on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.13.15, 4.23.16, or 4.3 3.17 hereof that gave rise to such conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and
(b) all Borrowings that would otherwise be made or continued by such Lender as Eurodollar Rate Borrowings shall be made or continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or shall remain as) Base Rate Borrowings. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS 4.13.15, 4.23.16, or 4.3 3.17 hereof that gave rise to the conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION 4.4 3.18 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, such Lender's Base Rate Borrowings shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata ratably (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitments.
Appears in 1 contract
Samples: 364 Day Revolving Credit Agreement (Worldcom Inc/ga//)
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings make any Eurocurrency Loan or to continueContinue, or to convert Convert Base Rate Borrowings into Eurodollar Rate BorrowingsLoans into, Eurocurrency Loans shall be suspended pursuant to SECTIONS 4.1, 4.2, Section 3.8 or 4.3 3.9 hereof, such Lender's Eurodollar Rate Borrowings ’s Eurocurrency Loans shall be automatically converted Converted into Base Rate Borrowings Loans on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings such Eurocurrency Loans (or, in the case of a conversion Conversion required by SECTION 4.3 Section 3.8 hereof, on such earlier date as such Lender may specify to the Borrower with a copy to the Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, Section 3.8 or 4.3 3.9 hereof that gave rise to such conversion Conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings ’s Eurocurrency Loans have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings ’s Eurocurrency Loans shall be applied instead to its Base Rate BorrowingsLoans; and
(b) all Borrowings Loans that would otherwise be made or continued Continued by such Lender as Eurodollar Rate Borrowings Eurocurrency Loans shall be made or continued Continued instead as Base Rate BorrowingsLoans, and all Borrowings Base Rate Loans of such Lender that would otherwise be converted Converted into Eurodollar Rate Borrowings shall be converted instead into (or Eurocurrency Loans shall remain as) as Base Rate BorrowingsLoans. If such Lender gives notice to the Borrower (with a copy to the Administrative Agent) that the circumstances specified in SECTIONS 4.1, 4.2, Section 3.8 or 4.3 3.9 hereof that gave rise to the conversion Conversion of such Lender's Eurodollar Rate Borrowings ’s Eurocurrency Loans pursuant to this SECTION 4.4 Section 3.10 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings Eurocurrency Loans made by other Lenders are outstanding, such Lender's ’s Base Rate Borrowings Loans shall be automatically convertedConverted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate BorrowingsEurocurrency Loans, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings Loans held by the Lenders holding Eurocurrency Loans and by such Lender are held pro rata (as to principal amounts, Typesinterest rate basis, and Interest Periods) in accordance with their respective Commitments.
Appears in 1 contract
Treatment of Affected Loans. If the obligation of any Lender to fund make or Continue Eurodollar Rate Borrowings or to continue, or to convert Base Convert Prime Rate Borrowings into Eurodollar Rate Borrowings, Borrowings shall be suspended pursuant to SECTIONS SECTION 4.1, 4.2, or 4.3 hereof4.3, then such Lender's Eurodollar Rate Borrowings shall be automatically converted Converted into Base Prime Rate Borrowings on the last day(s) of the then current Interest Period(s) for all Eurodollar Rate Borrowings (or, in the case of a conversion Conversion required by SECTION 4.3 hereof4.3, on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS SECTION 4.1, 4.2, or 4.3 hereof that gave rise to such conversion Conversion no longer exist:: CREDIT AGREEMENT
(a) to the extent that such Lender's Eurodollar Rate Borrowings have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Prime Rate Borrowings; and
(b) all Borrowings that would otherwise be made or continued Continued by such Lender as Eurodollar Rate Borrowings shall be made or continued Continued instead as Base Prime Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted Converted into Eurodollar Rate Borrowings shall be converted Converted instead into (or shall remain as) Base Prime Rate Borrowings. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS SECTION 4.1, 4.2, or 4.3 hereof that gave rise to the conversion Conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, then such Lender's Base Prime Rate Borrowings shall be automatically convertedConverted, on the first (1st) day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata Pro Rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitments).
Appears in 1 contract
Samples: Credit Agreement (Centex Corp)
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings or to continue, or to convert Base Rate Borrowings into Eurodollar Rate Borrowings, shall be suspended pursuant to SECTIONS Sections 4.1, 4.2, or 4.3 hereof, such Lender's Eurodollar Rate Borrowings shall be automatically converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings (or, in the case of a conversion required by SECTION Section 4.3 hereof, on such earlier date as such Lender may specify to Borrower the Borrowers with a copy to the Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS Sections 4.1, 4.2, or 4.3 hereof that gave rise to such conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and
(b) all Borrowings that would otherwise be made or continued by such Lender as Eurodollar Rate Borrowings shall be made or continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or shall remain as) Base Rate Borrowings. If such Lender gives notice to Borrower the Borrowers (with a copy to the Administrative Agent) that the circumstances specified in SECTIONS Sections 4.1, 4.2, or 4.3 hereof that gave rise to the conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION Section 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, such Lender's Base Rate Borrowings shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective CommitmentsCommitments Percentages.
Appears in 1 contract
Treatment of Affected Loans. If the obligation of any Lender to fund make or Continue Eurodollar Rate Borrowings or to continue, or to convert Convert Base Rate Borrowings into Eurodollar Rate Borrowings, Borrowings shall be suspended pursuant to SECTIONS Sections 4.1, 4.2, or 4.3 hereof4.3, then such Lender's ’s Eurodollar Rate Borrowings shall be automatically converted Converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for all Eurodollar Rate Borrowings (or, in the case of a conversion Conversion required by SECTION 4.3 hereofSection 4.3, on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS Sections 4.1, 4.2, or 4.3 hereof that gave rise to such conversion Conversion no longer exist:
(a) to the extent that such Lender's ’s Eurodollar Rate Borrowings have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's ’s Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and
(b) all Borrowings that would otherwise be made or continued Continued by such Lender as Eurodollar Rate Borrowings shall be made or continued Continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted Converted into Eurodollar Rate Borrowings shall be converted Converted instead into (or shall remain as) Base Rate Borrowings. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS Sections 4.1, 4.2, or 4.3 hereof that gave rise to the conversion Conversion of such Lender's ’s Eurodollar Rate Borrowings pursuant to this SECTION Section 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, then such Lender's ’s Base Rate Borrowings shall be automatically convertedConverted, on the first (1st) day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata Pro Rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitments).
Appears in 1 contract
Samples: Exchange Agreement (Protection One Alarm Monitoring Inc)
Treatment of Affected Loans. If the obligation of any Lender to fund make or Continue Eurodollar Rate Borrowings or to continue, or to convert Convert Base Rate Borrowings into Eurodollar Rate Borrowings, Borrowings shall be suspended pursuant to SECTIONS 4.1, 4.2, or 4.3 hereof4.3, then such Lender's Eurodollar Rate Borrowings shall be automatically converted Converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for all Eurodollar Rate Borrowings (or, in the case of a conversion Conversion required by SECTION 4.3 hereof4.3, on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof that gave rise to such conversion Conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and
(b) all Borrowings that would otherwise be made or continued Continued by such Lender as Eurodollar Rate Borrowings shall be made or continued Continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted Converted into Eurodollar Rate Borrowings shall be converted Converted instead into (or shall remain as) Base Rate Borrowings. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof that gave rise to the conversion Conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, then such Lender's Base Rate Borrowings shall be automatically convertedConverted, on the first (1st) day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata Pro Rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitments).
Appears in 1 contract
Samples: Revolving Credit Agreement (Protection One Alarm Monitoring Inc)
Treatment of Affected Loans. If the obligation of any Lender to fund make Eurodollar Rate Borrowings Loans or to continueContinue, or to convert Convert Base Rate Borrowings into Loans into, Eurodollar Rate Borrowings, Loans shall be suspended pursuant to SECTIONS 4.1, 4.2, Section 5.01 or 4.3 5.03 hereof, such Lender's Eurodollar Rate Borrowings Loans shall be automatically converted Converted into Base Rate Borrowings Loans on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings Loans (or, in the case of a conversion required by SECTION 4.3 Conversion resulting from a circumstance described in Section 5.03 hereof, on such earlier date as such Lender may specify to Borrower the Borrowers with a copy to the Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, Section 5.01 or 4.3 5.03 hereof that gave rise to such conversion Conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings Loans have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings Loans shall be applied instead to its Base Rate BorrowingsLoans; andand Credit Agreement ----------------
(b) all Borrowings Loans that would otherwise be made or continued Continued by such Lender as Eurodollar Rate Borrowings Loans shall be made or continued Continued instead as Base Rate BorrowingsLoans, and all Borrowings Base Rate Loans of such Lender that would otherwise be converted Converted into Eurodollar Rate Borrowings shall be converted instead into (or Loans shall remain as) as Base Rate BorrowingsLoans. If such Lender gives notice to Borrower (the Borrowers with a copy to the Administrative Agent) Agent that the circumstances specified in SECTIONS 4.1, 4.2, Section 5.01 or 4.3 5.03 hereof that gave rise to the conversion Conversion of such Lender's Eurodollar Rate Borrowings Loans pursuant to this SECTION 4.4 Section 5.04 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings Loans under the same Facility made by other Lenders are outstanding, such Lender's Base Rate Borrowings Loans under such Facility shall be automatically convertedConverted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate BorrowingsLoans, to the extent necessary so that, after giving effect thereto, all Base Rate and Eurodollar Rate Borrowings held by Loans under such Facility are allocated among the Lenders and by such Lender are held pro rata ratably (as to principal amounts, Types, Types and Interest Periods) in accordance with their respective CommitmentsCommitments under such Facility.
Appears in 1 contract
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings or to continue, or to convert Base Rate Borrowings into Eurodollar Rate Borrowings, shall be suspended pursuant to SECTIONS Sections 4.1, 4.2, or 4.3 hereof4.3, such Lender's Eurodollar Rate Borrowings shall be automatically converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings (or, in the case of a conversion required by SECTION 4.3 hereofSection 4.3, on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS Sections 4.1, 4.2, or 4.3 hereof that gave rise to such conversion no longer exist:
(a) to To the extent that such Lender's Eurodollar Rate Borrowings have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and
(b) all All Borrowings that would otherwise be made or continued by such Lender as Eurodollar Rate Borrowings shall be made or continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or shall remain as) Base Rate Borrowings. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS Sections 4.1, 4.2, or 4.3 hereof that gave rise to the conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION Section 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, such Lender's Base Rate Borrowings shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective CommitmentsCommitted Sums for the applicable Facility.
Appears in 1 contract
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar make Fixed LIBOR Rate Borrowings or to continue, or to convert Base Loans and/or Floating LIBOR Rate Borrowings into Eurodollar Rate Borrowings, Loans shall be suspended pursuant to SECTIONS 4.1, 4.2, Section 2.3.3 or 4.3 2.3.4 hereof, such Lender's Eurodollar ’s Fixed LIBOR Rate Borrowings Loans and/or Floating LIBOR Rate Loans shall be automatically converted into Base Rate Borrowings Loans (or, to the extent not subject to such provisions, Floating LIBOR Rate Loans) on the last day(s) of the then current Interest Period(s) for Eurodollar such Fixed LIBOR Rate Borrowings (or, in the case of a conversion required by SECTION 4.3 hereof, on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) Loans and/or Floating LIBOR Rate Loans and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, Section 2.3.3 or 4.3 2.3.4 hereof that gave rise to such conversion no longer exist:
(a) to the extent that such Lender's Eurodollar ’s Fixed LIBOR Rate Borrowings Loans and/or Floating LIBOR Rate Loans have been so converted, all ail payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar ’s Fixed LIBOR Rate Borrowings Loans and/or Floating LIBOR Rate Loans shall be applied instead to its Base Rate BorrowingsLoans (or, if applicable, Floating LIBOR Rate Loans); and
(b) all Borrowings Loans that would otherwise be made or continued by such Lender as Eurodollar Fixed LIBOR Rate Borrowings Loans and/or Floating LIBOR Rate Loans shall be made or continued instead as Base Rate BorrowingsLoans (or, if applicable, Floating LIBOR Rate Loans), and all Borrowings ail Base Rate Loans of such Lender that would otherwise be converted into Eurodollar Fixed LIBOR Rate Borrowings shall be converted instead into (or Loans and/or Floating LIBOR Rate Loans shall remain as) as Base Rate BorrowingsLoans. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS 4.1, 4.2, Section 2.3.3 or 4.3 2.3.4 hereof that gave rise to lo the conversion of such Lender's Eurodollar ’s Fixed LIBOR Rate Borrowings Loans and/or Floating LIBOR Rate Loans to Base Rate Loans pursuant to this SECTION 4.4 ibis Section 2.3.4.1 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time lime when Eurodollar Fixed LIBOR Rate Borrowings Loans and/or Floating LIBOR Rate Loans made by other Lenders are outstanding, such Lender's ’s Base Rate Borrowings Loans shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Fixed LIBOR Rate Borrowings, Loans and/or Floating LIBOR Rate Loans to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings Loans held by the Lenders holding Fixed LIBOR Rate Loans and/or Floating LIBOR Rate Loans and by such Lender are held pro rata (as to principal amounts, Typesinterest rate basis, and Interest Periods) in accordance with their such Lenders’ respective CommitmentsCommitment Percentages.
Appears in 1 contract
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings make any Eurocurrency Loan or to continueContinue, or to convert Convert Base Rate Borrowings into Eurodollar Rate BorrowingsLoans into, Eurocurrency Loans shall be suspended pursuant to SECTIONS 4.1, 4.2, Section 3.8 or 4.3 3.9 hereof, such Lender's Eurodollar Rate Borrowings Eurocurrency Loans shall be automatically converted Converted into Base Rate Borrowings Loans on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings such Eurocurrency Loans (or, in the case of a conversion Conversion required by SECTION 4.3 Section 3.8 hereof, on such earlier date as such Lender may specify to the Borrower with a copy to the Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, Section 3.8 or 4.3 3.9 hereof that gave rise to such conversion Conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings Eurocurrency Loans have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings Eurocurrency Loans shall be applied instead to its Base Rate BorrowingsLoans; and
(b) all Borrowings Loans that would otherwise be made or continued Continued by such Lender as Eurodollar Rate Borrowings Eurocurrency Loans shall be made or continued Continued instead as Base Rate BorrowingsLoans, and all Borrowings Base Rate Loans of such Lender that would otherwise be converted Converted into Eurodollar Rate Borrowings shall be converted instead into (or Eurocurrency Loans shall remain as) as Base Rate BorrowingsLoans. If such Lender gives notice to the Borrower (with a copy to the Administrative Agent) that the circumstances specified in SECTIONS 4.1, 4.2, Section 3.8 or 4.3 3.9 hereof that gave rise to the conversion Conversion of such Lender's Eurodollar Rate Borrowings Eurocurrency Loans pursuant to this SECTION 4.4 Section 3.10 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings Eurocurrency Loans made by other Lenders are outstanding, such Lender's Base Rate Borrowings Loans shall be automatically convertedConverted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate BorrowingsEurocurrency Loans, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings Loans held by the Lenders holding Eurocurrency Loans and by such Lender are held pro rata (as to principal amounts, Typesinterest rate basis, and Interest Periods) in accordance with their respective Commitments.
Appears in 1 contract
Samples: Credit Agreement (Ict Group Inc)
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings make LIBOR Loans or to continueContinue, or to convert Convert Base Rate Borrowings into Eurodollar Rate BorrowingsLoans into, LIBOR Loans shall be suspended pursuant to SECTIONS 4.1Section 4.3, 4.2, or 4.3 hereof, then such Lender's Eurodollar Rate Borrowings ’s LIBOR Loans shall be automatically converted Converted into Base Rate Borrowings Loans on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings LIBOR Loans (or, in the case of a conversion Conversion required by SECTION 4.3 hereofSection 4.3, if such Lender has determined in good faith that it may not lawfully continue to maintain any LIBOR Loans to the end of the then current Interest Period, then on such earlier date as such Lender may specify to the Borrower with a copy to Administrative the Agent) (without payment of any amount that Borrower would otherwise be obligated to pay pursuant to Section 4.4) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, Section 4.1 or 4.3 hereof that gave rise to such conversion Conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings ’s LIBOR Loans have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings ’s LIBOR Loans shall be applied instead to its Base Rate BorrowingsLoans; and
(b) all Borrowings Loans that would otherwise be made or continued Continued by such Lender as Eurodollar Rate Borrowings LIBOR Loans shall be made or continued Continued instead as Base Rate BorrowingsLoans, and all Borrowings Base Rate Loans of such Lender that would otherwise be converted Converted into Eurodollar Rate Borrowings shall be converted instead into (or LIBOR Loans shall remain as) as Base Rate BorrowingsLoans. If such Lender gives notice to the Borrower (with a copy to Administrative the Agent) that the circumstances specified in SECTIONS 4.1, 4.2, Section 4.1 or 4.3 hereof that gave rise to the conversion Conversion of such Lender's Eurodollar Rate Borrowings ’s LIBOR Loans pursuant to this SECTION 4.4 Section no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings LIBOR Loans made by other Lenders are outstanding, then such Lender's ’s Base Rate Borrowings Loans shall be automatically convertedConverted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate BorrowingsLIBOR Loans, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings Loans held by the Lenders holding LIBOR Loans and by such Lender are held pro rata (as to principal amounts, Types, Types and Interest Periods) in accordance with their respective Commitmentsapplicable Commitment Percentages.
Appears in 1 contract
Samples: Revolving Credit Agreement (Piedmont Office Realty Trust, Inc.)
Treatment of Affected Loans. If the obligation of any Facility B Lender to fund Eurodollar Rate Borrowings or to continue, or to convert Base Rate Borrowings into Eurodollar Rate Borrowings, shall be suspended pursuant to SECTIONS 4.13.15, 4.23.16, or 4.3 3.17 hereof, such Facility B Lender's Eurodollar Rate Borrowings shall be automatically converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings (or, in the case of a conversion required by SECTION 4.3 3.17 hereof, on such earlier date as such Facility B Lender may specify to Borrower with a copy to Administrative Agent) and, unless and until such Facility B Lender gives notice as provided below that the circumstances specified in SECTIONS 4.13.15, 4.23.16, or 4.3 3.17 hereof that gave rise to such conversion no longer exist:
(a) to the extent that such Facility B Lender's Eurodollar Rate Borrowings have been so converted, all payments and prepayments of principal that would otherwise be applied to such Facility B Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and
(b) all Borrowings that would otherwise be made or continued by such Facility B Lender as Eurodollar Rate Borrowings shall be made or continued instead as Base Rate Borrowings, and all Borrowings of such Facility B Lender that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or shall remain as) Base Rate Borrowings. If such Facility B Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS 4.13.15, 4.23.16, or 4.3 3.17 hereof that gave rise to the conversion of such Facility B Lender's Eurodollar Rate Borrowings pursuant to this SECTION 4.4 3.18 no longer exist (which such Facility B Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Facility B Lenders are outstanding, such Facility B Lender's Base Rate Borrowings shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Facility B Lenders and by such Facility B Lender are held pro rata Pro Rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective CommitmentsPro Rata Part of the Facility B Principal Debt.
Appears in 1 contract
Treatment of Affected Loans. If the obligation of any Lender to fund make or Continue Eurodollar Rate Borrowings or to continue, or to convert Convert Base Rate Borrowings into Eurodollar Rate Borrowings, Borrowings shall be suspended pursuant to SECTIONS 4.13.14, 4.23.15, or 4.3 hereof3.16, such Lender's Eurodollar Rate Borrowings shall be automatically converted Converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for all Eurodollar Rate Borrowings (or, in the case of a conversion Conversion required by SECTION 4.3 hereof3.16, on such earlier date as such Lender may specify to Borrower Borrowers with a copy to Administrative AgentAgents) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.13.14, 4.23.15, or 4.3 hereof 3.16 that gave rise to such conversion Conversion no longer exist:
(aA) to the extent that such Lender's Eurodollar Rate Borrowings have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and
(bB) all Borrowings that would otherwise be made or continued Continued by such Lender as Eurodollar Rate Borrowings shall be made or continued Continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted Converted into Eurodollar Rate Borrowings shall be converted Converted instead into (or shall remain as) Base Rate Borrowings. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof that gave rise to the conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, such Lender's Base Rate Borrowings shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitments.
Appears in 1 contract
Treatment of Affected Loans. If the obligation of any Lender to fund make any Eurodollar Rate Borrowings Loan or to continueContinue, or to convert Convert Base Rate Borrowings into Loans into, Eurodollar Rate Borrowings, Loans shall be suspended pursuant to SECTIONS 4.1Section 3.7, 4.2, 3.8 or 4.3 3.9 hereof, such Lender's Eurodollar Rate Borrowings Loans shall be automatically converted Converted into Base Rate Borrowings Loans (unless repaid by the Borrower) on the last day(s) of the then current Interest Period(s) for such Eurodollar Rate Borrowings Loans (or, in the case of a conversion Conversion required by SECTION 4.3 Section 3.8 hereof, on such earlier date as such Lender may specify to the Borrower with a copy to the Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1Section 3.7, 4.2, 3.8 or 4.3 3.9 hereof that gave rise to such conversion Conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings Loans have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings Loans shall be applied instead to its Base Rate BorrowingsLoans; and
(b) all Borrowings Loans that would otherwise be made or continued Continued by such Lender as Eurodollar Rate Borrowings Loans shall be made or continued Continued instead as Base Rate BorrowingsLoans, and all Borrowings Base Rate Loans of such Lender that would otherwise be converted Converted into Eurodollar Rate Borrowings shall be converted instead into (or Loans shall remain as) as Base Rate BorrowingsLoans. If such Lender gives notice to the Borrower (with a copy to the Administrative Agent) that the circumstances specified in SECTIONS 4.1Section 3.7, 4.2, 3.8 or 4.3 3.9 hereof that gave rise to the conversion Conversion of such Lender's Eurodollar Rate Borrowings Loans pursuant to this SECTION 4.4 Section 3.10 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings Loans made by other Lenders are outstanding, such Lender's Base Rate Borrowings Loans shall be automatically convertedConverted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate BorrowingsLoans (but in any event not earlier than three Business Days after the date on which such circumstances cease to exist), to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings Loans held by the Lenders holding Eurodollar Loans and by such Lender are held pro rata (as to principal amounts, Typesinterest rate basis, and Interest Periods) in accordance with their respective Commitments.
Appears in 1 contract
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar make LIBOR Rate Borrowings Loans or to continue, or to convert Base Continue LIBOR Rate Borrowings into Eurodollar Rate Borrowings, Loans shall be suspended pursuant to SECTIONS 4.1Section 3.9(a)(ii), 4.2Section 3.9(b) or Section 3.9(c), or 4.3 hereof, then such Lender's Eurodollar ’s LIBOR Rate Borrowings Loans shall be automatically converted Converted into Base Rate Borrowings Loans on the last day(s) of the then current Interest Period(s) for Eurodollar LIBOR Rate Borrowings Loans (or, in the case of a conversion Conversion required by SECTION 4.3 hereofSection 3.9(a)(ii) or Section 3.9(c), on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, Section 3.9(a) or 4.3 hereof Section 3.9(c) that gave rise to such conversion Conversion no longer exist:
(ai) to the extent that such Lender's Eurodollar ’s LIBOR Rate Borrowings Loans have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar ’s LIBOR Rate Borrowings Loans shall be applied instead to its Base Rate BorrowingsLoans; and
(bii) all Borrowings Loans that would otherwise be made or continued Continued by such Lender as Eurodollar LIBOR Rate Borrowings Loans shall be made or continued Continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or shall remain as) Base Rate BorrowingsLoans. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS 4.1, 4.2, Section 3.9(a) or 4.3 hereof Section 3.9(c) that gave rise to the conversion Conversion of such Lender's Eurodollar ’s LIBOR Rate Borrowings Loans pursuant to this SECTION 4.4 Section 3.9(f) no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar LIBOR Rate Borrowings Loans made by other Lenders are outstanding, then such Lender's ’s Loans that are Base Rate Borrowings Loans shall be automatically convertedConverted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar LIBOR Rate BorrowingsLoans, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings Loans held by the Lenders holding LIBOR Rate Loans and by such Lender are held pro rata (as to principal amounts, Types, Types and Interest Periods) in accordance with their respective Commitments.
Appears in 1 contract
Samples: Construction Loan and Security Agreement (Campus Crest Communities, Inc.)
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar make LIBOR Rate Borrowings Loans or to continueContinue, or to convert Convert Base Rate Borrowings into Eurodollar Loans into, LIBOR Rate Borrowings, Loans shall be suspended pursuant to SECTIONS 4.1Section 4.1(b), 4.2Section 4.2 or Section 4.3, or 4.3 hereof, then such Lender's Eurodollar LIBOR Rate Borrowings Loans shall be automatically converted Converted into Base Rate Borrowings Loans on the last day(s) of the then current Interest Period(s) for Eurodollar LIBOR Rate Borrowings Loans (or, in the case of a conversion Conversion required by SECTION Section 4.1(b) or Section 4.3 hereofor to the extent required by law, on such earlier date as such Lender may specify to the Borrower with a copy to the Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, Section 4.1 or Section 4.3 hereof that gave rise to such conversion Conversion no longer exist:
(a) to the extent that such Lender's Eurodollar LIBOR Rate Borrowings Loans have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar LIBOR Rate Borrowings Loans shall be applied instead to its Base Rate BorrowingsLoans; and
(b) all Borrowings Loans that would otherwise be made or continued Continued by such Lender as Eurodollar LIBOR Rate Borrowings Loans shall be made or continued Continued instead as Base Rate BorrowingsLoans, and all Borrowings Base Rate Loans of such Lender that would otherwise be converted Converted into Eurodollar LIBOR Rate Borrowings shall be converted instead into (or Loans shall remain as) as Base Rate BorrowingsLoans. If such Lender gives notice to the Borrower (with a copy to the Administrative Agent) that the circumstances specified in SECTIONS 4.1, 4.2, Section 4.1 or Section 4.3 hereof that gave rise to the conversion Conversion of such Lender's Eurodollar LIBOR Rate Borrowings Loans pursuant to this SECTION 4.4 Section no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar LIBOR Rate Borrowings Loans made by other Lenders are outstanding, then such Lender's Loans that are Base Rate Borrowings Loans shall be automatically convertedConverted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar LIBOR Rate BorrowingsLoans, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings Loans held by the Lenders holding LIBOR Rate Loans and by such Lender are held pro rata (as to principal amounts, Types, Types and Interest Periods) in accordance with their respective CommitmentsRevolving Commitments and/or Term Loan Exposure, as applicable.
Appears in 1 contract
Samples: Credit Agreement (Wells Core Office Income Reit Inc)
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings make Term Benchmark Loans or to continueContinue, or to convert Convert Base Rate Borrowings into Eurodollar Rate BorrowingsLoans into, Term Benchmark Loans shall be suspended pursuant to SECTIONS 4.1, 4.2, or 4.3 hereof, such Lender's Eurodollar Rate Borrowings Section 5.3 then any Term Benchmark Loan shall be automatically converted into Base Rate Borrowings on the last day(s) day of the then current Interest Period(s) for Eurodollar Rate Borrowings Period applicable to such Loan (or the next succeeding Business Day if such day is not a Business Day, or, in the case of a conversion Conversion required by SECTION 4.3 hereof, Section 5.3 on such earlier date as such Lender may specify to the Borrower with a copy to the Administrative Agent) , as applicable), be converted by the Administrative Agent to, and shall constitute, a Base Rate Borrowing; and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof Section 5.3 that gave rise to such conversion Conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings Lexxxx’s Term Benchmark Loans have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings ’s Term Benchmark Loans shall be applied instead to its Base Rate BorrowingsLoans, as set forth above; and
(b) all Borrowings Loans that would otherwise be made or continued Continued by such Lender as Eurodollar Rate Borrowings Term Benchmark Loans shall be made or continued Continued instead as Base Rate BorrowingsLoans, as set forth above, and all Borrowings Base Rate Loans of such Lender that would otherwise be converted Converted into Eurodollar Rate Borrowings shall be converted instead into (Term Benchmark Loans or shall remain as) as Base Rate BorrowingsLoans. If such Lender gives notice to the Borrower (with a copy to the Administrative Agent, as applicable) that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof Section 5.3 that gave rise to the conversion Conversion of such Lender's Eurodollar Rate Borrowings Lexxxx’s Term Benchmark Loans pursuant to this SECTION 4.4 Section no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings Term Benchmark Loans made by other Lenders are outstanding, then such Lender's ’s Base Rate Borrowings Loans shall be automatically convertedConverted, on the first day(s) of the next succeeding Interest Period(s) for Term Benchmark Loans for such outstanding Eurodollar Rate Borrowings, Term Benchmark Loans to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings Loans held by the Lenders holding Term Benchmark Loans and by such Lender are held pro rata (as to principal amounts, Types, Types and Interest Periods) in accordance with their respective applicable Term Loan Commitments.
Appears in 1 contract
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings make any Eurocurrency Loan or to continue, or to convert Base Rate Borrowings into Eurodollar Rate BorrowingsLoans into, Eurocurrency Loans shall be suspended pursuant to SECTIONS 4.1, 4.2, Section 3.8 or 4.3 3.9 hereof, such Lender's Eurodollar Rate Borrowings Eurocurrency Loans shall be automatically converted into Base Rate Borrowings Loans on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings such Eurocurrency Loans (or, in the case of a conversion required by SECTION 4.3 Section 3.8 hereof, on such earlier date as such Lender may specify to the Borrower with a copy to the Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, Section 3.8 or 4.3 3.9 hereof that gave rise to such conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings Eurocurrency Loans have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings Eurocurrency Loans shall be applied instead to its Base Rate BorrowingsLoans; and
(b) all Borrowings Loans that would otherwise be made or continued by such Lender as Eurodollar Rate Borrowings Eurocurrency Loans shall be made or continued instead as Base Rate BorrowingsLoans, and all Borrowings Base Rate Loans of such Lender that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or Eurocurrency Loans shall remain as) as Base Rate BorrowingsLoans. If such Lender gives notice to the Borrower (with a copy to the Administrative Agent) that the circumstances specified in SECTIONS 4.1, 4.2, Section 3.8 or 4.3 3.9 hereof that gave rise to the conversion of such Lender's Eurodollar Rate Borrowings Eurocurrency Loans pursuant to this SECTION 4.4 Section 3.10 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings Eurocurrency Loans made by other Lenders are outstanding, such Lender's Base Rate Borrowings Loans shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate BorrowingsEurocurrency Loans, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings Loans held by the Lenders holding Eurocurrency Loans and by such Lender are held pro rata (as to principal amounts, Typesinterest rate basis, and Interest Periods) in accordance with their respective Commitments.
Appears in 1 contract
Samples: Credit Agreement (Profit Recovery Group International Inc)
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings make LIBOR Loans or to continueContinue, or to convert Convert Base Rate Borrowings into Eurodollar Rate BorrowingsLoans into, LIBOR Loans shall be suspended pursuant to SECTIONS 4.1Section 4.1.(b) or Section 4.3, 4.2, or 4.3 hereof, then such Lender's Eurodollar Rate Borrowings ’s (i) LIBOR Loans denominated in Dollars shall be automatically converted Converted into Base Rate Borrowings Loans on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings LIBOR Loans (or, in the case of a conversion Conversion required by SECTION 4.3 hereofSection 4.1.(b) or Section 4.3, on such earlier date as such Lender may specify to the Borrower with a copy to Administrative the Agent) and (ii) LIBOR Loans denominated in any Alternative Currency shall be converted automatically to Alternate Rate Loans on the last day of each Interest Period applicable to such LIBOR Loans (or, in the case of a Conversion required by Section 4.1.(b) or Section 4.3, on such earlier date as such Lender may specify to the Borrower with a copy to the Agent), and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, Section 4.1 or Section 4.3 hereof that gave rise to such conversion Conversion no longer exist:
(aA) to the extent that such Lender's Eurodollar Rate Borrowings ’s LIBOR Loans denominated in Dollars have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings ’s LIBOR Loans shall be applied instead to its Base Rate Borrowings; andLoans;
(bB) all Borrowings Loans denominated in Dollars that would otherwise be made or continued Continued by such Lender as Eurodollar Rate Borrowings LIBOR Loans denominated in Dollars shall be made or continued Continued instead as Base Rate BorrowingsLoans, and all Borrowings Base Rate Loans of such Lender that would otherwise be converted Converted into Eurodollar LIBOR Loans denominated in Dollars shall remain as Base Rate Borrowings Loans;
(C) to the extent that such Lender’s LIBOR Loans denominated in any affected Alternative Currency have been so Converted, all payments and prepayments of principal that would otherwise be applied to such Lender’s LIBOR Loans shall be converted applied instead to its Alternate Rate Loans; and
(D) all Loans denominated in any Alternative Currency that would otherwise be made or Continued by such Lender as LIBOR Loans denominated in such Alternative Currency shall be made or Continued instead as Alternate Rate Loans in such Alternative Currency, and all Alternate Rate Loans in such Alternative Currency of such Lender that would otherwise be Converted into (or LIBOR Loans denominated in such Alternative Currency shall remain as) Base as Alternate Rate BorrowingsLoans; provided that, for the avoidance of doubt, if the circumstances giving rise to the notice referenced above affect only the Adjusted LIBOR with respect to borrowings denominated in a single Currency, the provisions of this Section 4.6 shall apply only to LIBOR Loans denominated in such Currency, and borrowings of LIBOR Loans denominated in other Currencies shall be permitted. If such Lender gives notice to the Borrower (with a copy to Administrative the Agent) that the circumstances specified in SECTIONS 4.1, 4.2, Section 4.1 or Section 4.3 hereof that gave rise to the conversion Conversion of such Lender's Eurodollar Rate Borrowings ’s LIBOR Loans pursuant to this SECTION 4.4 Section no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings LIBOR Loans made by other Lenders are outstanding, then such Lender's ’s Base Rate Borrowings Loans shall be automatically convertedConverted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate BorrowingsLIBOR Loans, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings Loans held by the Lenders holding LIBOR Loans and by such Lender are held pro rata (as to principal amounts, Types, Types and Interest Periods) in accordance with their respective Commitments.
Appears in 1 contract
Samples: Credit Agreement (Epr Properties)
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings or to continue, or to convert Base Rate Borrowings into Eurodollar Rate Borrowings, shall be suspended pursuant to SECTIONS 4.1, 4.2, or 4.3 hereof4.3, such Lender's Eurodollar Rate Borrowings shall be automatically converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings (or, in the case of a conversion required by SECTION 4.3 hereof4.3, on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) and, unless UNLESS and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof that gave rise to such conversion no longer exist:
(a) to : To the extent that such Lender's Eurodollar Rate Borrowings have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and
(b) all and All Borrowings that would otherwise be made or continued by such Lender as Eurodollar Rate Borrowings shall be made or continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or shall remain as) Base Rate Borrowings. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof that gave rise to the conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, such Lender's Base Rate Borrowings shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective CommitmentsCommitted Sums for the applicable Facility.
Appears in 1 contract
Samples: Credit Agreement (Dutchess County Cellular Telephone Co Inc)
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings or to continue, or to convert Base Rate Borrowings into Eurodollar Rate Borrowings, shall be suspended pursuant to SECTIONS 4.1, 4.2, or 4.3 hereof, such Lender's Eurodollar Rate Borrowings shall be automatically converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings (or, in the case of a conversion required by SECTION 4.3 hereof, on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof that gave rise to such conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and
(b) all Borrowings that would otherwise be made or continued by such Lender as Eurodollar Rate Borrowings shall be made or continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or shall remain as) Base Rate Borrowings. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof that gave rise to the conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, such Lender's Base Rate Borrowings shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective CommitmentsCommitment Percentage.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Coorstek Inc)
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar make Fixed LIBOR Rate Borrowings or to continue, or to convert Base Loans and/or Floating LIBOR Rate Borrowings into Eurodollar Rate Borrowings, Loans shall be suspended pursuant to SECTIONS 4.1, 4.2, Section 2.3.3 or 4.3 2.3.4 hereof, such Lender's Eurodollar ’s Fixed LIBOR Rate Borrowings Loans and/or Floating LIBOR Rate Loans shall be automatically converted into Base Rate Borrowings Loans (or, to the extent not subject to such provisions, Floating LIBOR Rate Loans) on the last day(s) of the then current Interest Period(s) for Eurodollar such Fixed LIBOR Rate Borrowings (or, in the case of a conversion required by SECTION 4.3 hereof, on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) Loans and/or Floating LIBOR Rate Loans and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, Section 2.3.3 or 4.3 2.3.4 hereof that gave rise to such conversion no longer exist:
(a) to the extent that such Lender's Eurodollar ’s Fixed LIBOR Rate Borrowings Loans and/or Floating LIBOR Rate Loans have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar ’s Fixed LIBOR Rate Borrowings Loans and/or Floating LIBOR Rate Loans shall be applied instead to its Base Rate BorrowingsLoans (or, if applicable) Floating LIBOR Rate Loans); and
(b) all Borrowings Loans that would otherwise be made or continued by such Lender as Eurodollar Fixed LIBOR Rate Borrowings Loans and/or Floating LIBOR Rate Loans shall be made or continued instead as Base Rate BorrowingsLoans (or, if applicable, Floating LIBOR Rate Loans), and all Borrowings Base Rate Loans of such Lender that would otherwise be converted into Eurodollar Fixed LIBOR Rate Borrowings shall be converted instead into (or Loans and/or Floating LIBOR Rate Loans shall remain as) as Base Rate BorrowingsLoans. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS 4.1, 4.2, Section 2.3.3 or 4.3 2.3.4 hereof that gave rise to the conversion of such Lender's Eurodollar ’s Fixed LIBOR Rate Borrowings Loans and/or Floating LIBOR Rate Loans to Base Rate Loans pursuant to this SECTION 4.4 Section 2.3.4.1 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Fixed LIBOR Rate Borrowings Loans and/or Floating LIBOR Rate Loans made by other Lenders are outstanding, such Lender's ’s Base Rate Borrowings Loans shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Fixed LIBOR Rate Borrowings, Loans and/or Floating LIBOR Rate Loans to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings Loans held by the Lenders holding Fixed LIBOR Rate Loans and/or Floating LIBOR Rate Loans and by such Lender are held pro rata (as to principal amounts, Typesinterest rate basis, and Interest Periods) in accordance with their such Lenders’ respective CommitmentsCommitment Percentages.
Appears in 1 contract
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings or to continue, or to convert Base Rate Borrowings into Eurodollar Rate Borrowings, shall be suspended pursuant to SECTIONS Sections 4.1, 4.2, or 4.3 hereof, such Lender's Eurodollar Rate Borrowings shall be automatically converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings (or, in the case of a conversion required by SECTION Section 4.3 hereof, on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS Sections 4.1, 4.2, or 4.3 hereof that gave rise to such conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and
(b) all Borrowings that would otherwise be made or continued by such Lender as Eurodollar Rate Borrowings shall be made or continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or shall remain as) Base Rate Borrowings. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS Sections 4.1, 4.2, or 4.3 hereof that gave rise to the conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION Section 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, such Lender's Base Rate Borrowings shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective CommitmentsCommitted Sums.
Appears in 1 contract
Samples: Revolving Credit Agreement (Northern Border Partners Lp)
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings make Term Benchmark Loans or to continueContinue, or to convert Convert Base Rate Borrowings into Eurodollar Rate BorrowingsLoans into, Term Benchmark Loans shall be suspended pursuant to SECTIONS 4.1Section 4.3, 4.2, or 4.3 hereof, then such Lender's Eurodollar Rate Borrowings ’s Term Benchmark Loans shall be automatically converted Converted into Base Rate Borrowings Loans on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings Term Benchmark Loans (or, in the case of a conversion Conversion required by SECTION 4.3 hereofSection 4.3, if such Lender has determined in good faith that it may not lawfully continue to maintain any Term Benchmark Loans to the end of the then current Interest Period, then on such earlier date as such Lender may specify to the Borrower with a copy to Administrative the Agent) (without payment of any amount that Borrower would otherwise be obligated to pay pursuant to Section 4.4) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, Section 4.1 or 4.3 hereof that gave rise to such conversion Conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings ’s Term Benchmark Loans have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings ’s Term Benchmark Loans shall be applied instead to its Base Rate BorrowingsLoans; and
(b) all Borrowings any portion of such Lender’s Loans that would otherwise be made or continued Continued by such Lender as Eurodollar Rate Borrowings Term Benchmark Loans shall be made or continued Continued instead as Base Rate BorrowingsLoans, and all Borrowings Base Rate Loans of such Lender that would otherwise be converted Converted into Eurodollar Rate Borrowings shall be converted instead into (or Term Benchmark Loans shall remain as) as Base Rate BorrowingsLoans. If such Lender gives notice to the Borrower (with a copy to Administrative the Agent) that the circumstances specified in SECTIONS 4.1, 4.2, Section 4.1 or 4.3 hereof that gave rise to the conversion Conversion of such Lender's Eurodollar Rate Borrowings ’s Term Benchmark Loans pursuant to this SECTION 4.4 Section no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by Term Benchmark Loans of other Lenders are outstanding, then such Lender's ’s Base Rate Borrowings Loans shall be automatically convertedConverted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate BorrowingsTerm Benchmark Loans, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings Loans held by the Lenders holding Term Benchmark Loans and by such Lender are held pro rata (as to principal amounts, Types, Types and Interest Periods) in accordance with their respective CommitmentsCommitment Percentages.
Appears in 1 contract
Samples: Term Loan Agreement (Piedmont Office Realty Trust, Inc.)
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings or to continue, or to convert Base Rate Borrowings into Eurodollar Rate Borrowings, shall be suspended pursuant to SECTIONS 4.13.15, 4.23.16, or 4.3 3.17 hereof, such Lender's Eurodollar Rate Borrowings shall be automatically converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings (or, in the case of a conversion required by SECTION 4.3 3.17 hereof, on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.13.15, 4.23.16, or 4.3 3.17 hereof that gave rise to such conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and
(b) all Borrowings that would otherwise be made or continued by such Lender as Eurodollar Rate Borrowings shall be made or continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or shall remain as) Base Rate Borrowings. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof that gave rise to the conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, such Lender's Base Rate Borrowings shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitments.
Appears in 1 contract
Treatment of Affected Loans. If the obligation of any Facility A Lender to fund Eurodollar Rate Borrowings or to continue, or to convert Base Rate Borrowings into Eurodollar Rate Borrowings, shall be suspended pursuant to SECTIONS 4.13.15, 4.23.16, or 4.3 3.17 hereof, such Facility A Lender's Eurodollar Rate Borrowings shall be automatically converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings (or, in the case of a conversion required by SECTION 4.3 3.17 hereof, on such earlier date as such Facility A Lender may specify to Borrower with a copy to Administrative Agent) and, unless and until such Facility A Lender gives notice as provided below that the circumstances specified in SECTIONS 4.13.15, 4.23.16, or 4.3 3.17 hereof that gave rise to such conversion no longer exist:
(a) to the extent that such Facility A Lender's Eurodollar Rate Borrowings have been so converted, all payments and prepayments of principal that would otherwise be applied to such Facility A Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and
(b) all Borrowings that would otherwise be made or continued by such Facility A Lender as Eurodollar Rate Borrowings shall be made or continued instead as Base Rate Borrowings, and all Borrowings of such Facility A Lender that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or shall remain as) Base Rate Borrowings. If such Facility A Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS 4.13.15, 4.23.16, or 4.3 3.17 hereof that gave rise to the conversion of such Facility A Lender's Eurodollar Rate Borrowings pursuant to this SECTION 4.4 3.18 no longer exist (which such Facility A Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Facility A Lenders are outstanding, such Facility A Lender's Base Rate Borrowings shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Facility A Lenders and by such Facility A Lender are held pro rata Pro Rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitments.
Appears in 1 contract
Samples: Facility a Revolving Credit Agreement (Worldcom Inc /Ga/)
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings or to continueContinue, or to convert Convert Base Rate Borrowings into Eurodollar Rate BorrowingsLoans into, LIBOR Loans shall be suspended pursuant to SECTIONS 4.1Section 4.3, 4.2, or 4.3 hereof, then such Lender's Eurodollar Rate Borrowings ’s LIBOR Loans shall be automatically converted Converted into Base Rate Borrowings Loans on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings LIBOR Loans (or, in the case of a conversion Conversion required by SECTION 4.3 hereofSection 4.3, if such Lender has determined in good faith that it may not lawfully continue to maintain any LIBOR Loans to the end of the then current Interest Period, then on such earlier date as such Lender may specify to the Borrower with a copy to Administrative the Agent) (without payment of any amount that Borrower would otherwise be obligated to pay pursuant to Section 4.4) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, Section 4.1 or 4.3 hereof that gave rise to such conversion Conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings ’s LIBOR Loans have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings ’s LIBOR Loans shall be applied instead to its Base Rate BorrowingsLoans; and
(b) all Borrowings any portion of such Lender’s Loans that would otherwise be made or continued Continued by such Lender as Eurodollar Rate Borrowings LIBOR Loans shall be made or continued Continued instead as Base Rate BorrowingsLoans, and all Borrowings Base Rate Loans of such Lender that would otherwise be converted Converted into Eurodollar Rate Borrowings shall be converted instead into (or LIBOR Loans shall remain as) as Base Rate BorrowingsLoans. If such Lender gives notice to the Borrower (with a copy to Administrative the Agent) that the circumstances specified in SECTIONS 4.1, 4.2, Section 4.1 or 4.3 hereof that gave rise to the conversion Conversion of such Lender's Eurodollar Rate Borrowings ’s LIBOR Loans pursuant to this SECTION 4.4 Section no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by LIBOR Loans of other Lenders are outstanding, then such Lender's ’s Base Rate Borrowings Loans shall be automatically convertedConverted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate BorrowingsLIBOR Loans, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings Loans held by the Lenders holding LIBOR Loans and by such Lender are held pro rata (as to principal amounts, Types, Types and Interest Periods) in accordance with their the respective Commitmentsunpaid principal amount of the Loans held by each of the Lenders.
Appears in 1 contract
Samples: Term Loan Agreement (Piedmont Office Realty Trust, Inc.)
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings or to continue, or to convert Base Rate Borrowings into Eurodollar Rate Borrowings, shall be suspended pursuant to SECTIONS Sections 4.1, 4.2, or 4.3 hereof, such Lender's Eurodollar Rate Borrowings shall be automatically converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings (or, in the case of a conversion required by SECTION Section 4.3 hereof, on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS Sections 4.1, 4.2, or 4.3 hereof that gave rise to such conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and
(b) all Borrowings that would otherwise be made or continued by such Lender as Eurodollar Rate Borrowings shall be made or continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or shall remain as) Base Rate Borrowings. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS Sections 4.1, 4.2, or 4.3 hereof that gave rise to the conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION Section 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, such Lender's Base Rate Borrowings shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitments.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Acx Technologies Inc)
Treatment of Affected Loans. If the obligation of any Lender Holder to fund Eurodollar Rate Borrowings or to continue, or to convert Base Rate Borrowings into Eurodollar Rate Borrowings, shall be suspended pursuant to SECTIONS Sections 4.1, 4.2, or 4.3 hereof, such LenderHolder's Eurodollar Rate Borrowings shall be automatically converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings (or, in the case of a conversion required by SECTION Section 4.3 hereof, on such earlier date as such Lender Holder may specify to Borrower Borrowers with a copy to Administrative Agent) and, unless and until such Lender Holder gives notice as provided below that the circumstances specified in SECTIONS Sections 4.1, 4.2, or 4.3 hereof that gave rise to such conversion no longer exist:
(a) to the extent that such LenderHolder's Eurodollar Rate Borrowings have been so converted, all payments and prepayments of principal that would otherwise be applied to such LenderHolder's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and
(b) all Borrowings that would otherwise be made or continued by such Lender Holder as Eurodollar Rate Borrowings shall be made or continued instead as Base Rate Borrowings, and all Borrowings of such Lender Holder that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or shall remain as) Base Rate Borrowings. If such Lender Holder gives notice to Borrower Borrowers (with a copy to Administrative Agent) that the circumstances specified in SECTIONS Sections 4.1, 4.2, or 4.3 hereof that gave rise to the conversion of such LenderHolder's Eurodollar Rate Borrowings pursuant to this SECTION Section 4.4 no longer exist (which such Lender Holder agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders Holders are outstanding, such LenderHolder's Base Rate Borrowings shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders Holders and by such Lender Holder are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitmentsratable shares of the Aggregate Principal Debt. If Borrowers are required to pay or will be required to pay additional amounts to or for the account of any Holder pursuant to this Section 4.4, then such Holder will agree to use reasonable efforts to change the jurisdiction of its Applicable Lending Office so as to eliminate or reduce any such additional payment which may thereafter accrue if such change, in the judgment of such Holder, is not otherwise disadvantageous to such Holder.
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Samples: Term Loan and Note Purchase Agreement (Sun Healthcare Group Inc)
Treatment of Affected Loans. If the obligation of any Lender to fund make, Convert into, Continue or maintain Eurodollar Rate Borrowings or to continue, or to convert Base Rate Borrowings into Eurodollar Rate Borrowings, Loans shall be suspended pursuant to SECTIONS 4.1, 4.2, Section 3.8 or 4.3 3.9 hereof, such Lender's Eurodollar Rate Borrowings Loans shall be automatically converted Converted into Base Rate Borrowings Loans on the last day(s) of the then current Interest Period(s) for such Eurodollar Rate Borrowings Loans (or, in the case of a conversion Conversion required by SECTION 4.3 Section 3.8 hereof, on such earlier date required by law as such Lender may specify to the Borrower with a copy to Administrative the Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, Section 3.8 or 4.3 3.9 hereof that gave rise to such conversion Conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings Loans have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings Loans shall be applied instead to its Base Rate BorrowingsLoans; and
(b) all Borrowings Loans that would otherwise be made or continued Continued by such Lender as Eurodollar Rate Borrowings Loans shall be made or continued Continued instead as Base Rate BorrowingsLoans, and all Borrowings Base Rate Loans of such Lender that would otherwise be converted Converted into Eurodollar Rate Borrowings shall be converted instead into (or Loans shall remain as) as Base Rate BorrowingsLoans. If such Lender gives notice to the Borrower (with a copy to Administrative the Agent) that the circumstances specified in SECTIONS 4.1, 4.2, Section 3.8 or 4.3 3.9 hereof that gave rise to the conversion Conversion of such Lender's Eurodollar Rate Borrowings Loans pursuant to this SECTION 4.4 Section 3.10 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings Loans made by other Lenders are outstanding, such Lender's Base Rate Borrowings Loans shall be automatically convertedConverted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate BorrowingsLoans, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings Loans held by the Lenders holding Eurodollar Loans and by such Lender are held pro rata (as to principal amounts, Typesinterest rate basis, and Interest Periods) in accordance with their respective Commitments.
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Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings or to continue, or to convert Base Rate Borrowings into Eurodollar Rate Borrowings, shall be suspended pursuant to SECTIONS Sections 4.1, 4.2, or 4.3 hereof, such Lender's Eurodollar Rate Borrowings shall be automatically converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings (or, in the case of a conversion required by SECTION Section 4.3 hereof, on such earlier date as such Lender may specify to Borrower Restricted Borrowers with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS Sections 4.1, 4.2, or 4.3 hereof that gave rise to such conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and
(b) all Borrowings that would otherwise be made or continued by such Lender as Eurodollar Rate Borrowings shall be made or continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or shall remain as) Base Rate Borrowings. If such Lender gives notice to Borrower Restricted Borrowers (with a copy to Administrative Agent) that the circumstances specified in SECTIONS Sections 4.1, 4.2, or 4.3 hereof that gave rise to the conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION Section 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, such Lender's Base Rate Borrowings shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitments.
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Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings make Term Benchmark Loans or to continueContinue, or to convert Convert Base Rate Borrowings into Eurodollar Rate BorrowingsLoans into, Term Benchmark Loans shall be suspended pursuant to SECTIONS 4.1, 4.2, or 4.3 hereof, such Lender's Eurodollar Rate Borrowings Section 5.3 then any Term Benchmark Loan shall be automatically converted into Base Rate Borrowings on the last day(s) day of the then current Interest Period(s) for Eurodollar Rate Borrowings Period applicable to such Loan (or the next succeeding Business Day if such day is not a Business Day, or, in the case of a conversion Conversion required by SECTION 4.3 hereof, Section 5.3 on such earlier date as such Lender may specify to the Borrower with a copy to the Administrative Agent) , as applicable), be converted by the Administrative Agent to, and shall constitute, a Base Rate Borrowing; and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof Section 5.3 that gave rise to such conversion Conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings ’s Term Benchmark Loans have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings ’s Term Benchmark Loans shall be applied instead to its Base Rate BorrowingsLoans, as set forth above; and
(b) all Borrowings Loans that would otherwise be made or continued Continued by such Lender as Eurodollar Rate Borrowings Term Benchmark Loans shall be made or continued Continued instead as Base Rate BorrowingsLoans, as set forth above, and all Borrowings Base Rate Loans of such Lender that would otherwise be converted Converted into Eurodollar Rate Borrowings shall be converted instead into (Term Benchmark Loans or shall remain as) as Base Rate BorrowingsLoans. If such Lender gives notice to the Borrower (with a copy to the Administrative Agent, as applicable) that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof Section 5.3 that gave rise to the conversion Conversion of such Lender's Eurodollar Rate Borrowings ’s Term Benchmark Loans pursuant to this SECTION 4.4 Section no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings Term Benchmark Loans made by other Lenders are outstanding, then such Lender's ’s Base Rate Borrowings Loans shall be automatically convertedConverted, on the first day(s) of the next succeeding Interest Period(s) for Term Benchmark Loans for such outstanding Eurodollar Rate Borrowings, Term Benchmark Loans to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings Loans held by the Lenders holding Term Benchmark Loans and by such Lender are held pro rata (as to principal amounts, Types, Types and Interest Periods) in accordance with their respective applicable Term Loan Commitments.
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Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar make LIBOR Rate Borrowings Loans or to continue, or to convert Base Continue LIBOR Rate Borrowings into Eurodollar Rate Borrowings, Loans shall be suspended pursuant to SECTIONS 4.1Section 3.9(a)(ii), 4.2Section 3.9(b) or Section 3.9(b), or 4.3 hereof, then such Lender's Eurodollar ’s LIBOR Rate Borrowings Loans shall be automatically converted Converted into Base Rate Borrowings Loans on the last day(s) of the then current Interest Period(s) for Eurodollar LIBOR Rate Borrowings Loans (or, in the case of a conversion Conversion required by SECTION 4.3 hereofSection 3.9(a)(ii) or Section 3.9(b), on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, Section 3.9(a) or 4.3 hereof Section 3.9(b) that gave rise to such conversion Conversion no longer exist:
(ai) to the extent that such Lender's Eurodollar ’s LIBOR Rate Borrowings Loans have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar ’s LIBOR Rate Borrowings Loans shall be applied instead to its Base Rate BorrowingsLoans; and
(bii) all Borrowings Loans that would otherwise be made or continued Continued by such Lender as Eurodollar LIBOR Rate Borrowings Loans shall be made or continued Continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or shall remain as) Base Rate BorrowingsLoans. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS 4.1, 4.2, Section 3.9(a) or 4.3 hereof Section 3.9(b) that gave rise to the conversion Conversion of such Lender's Eurodollar ’s LIBOR Rate Borrowings Loans pursuant to this SECTION 4.4 Section 3.9(f) no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar LIBOR Rate Borrowings Loans made by other Lenders are outstanding, then such Lender's ’s Loans that are Base Rate Borrowings Loans shall be automatically convertedConverted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar LIBOR Rate BorrowingsLoans, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings Loans held by the Lenders holding LIBOR Rate Loans and by such Lender are held pro rata (as to principal amounts, Types, Types and Interest Periods) in accordance with their respective Commitments.
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Samples: Construction Loan and Security Agreement (Bluerock Residential Growth REIT, Inc.)
Treatment of Affected Loans. If the obligation of any Lender to fund make or Continue Eurodollar Rate Borrowings or to continue, or to convert Convert Base Rate Borrowings into Eurodollar Rate Borrowings, Borrowings shall be suspended pursuant to SECTIONS 4.1, 4.2, or 4.3 hereof4.3, then such Lender's Eurodollar Rate Borrowings shall be automatically converted Converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for all Eurodollar Rate Borrowings (or, in the case of a conversion Conversion required by SECTION 4.3 hereof4.3, on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof that gave rise to such conversion Conversion no longer exist:
(aA) to the extent that such Lender's Eurodollar Rate Borrowings have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and
(bB) all Borrowings that would otherwise be made or continued Continued by such Lender as Eurodollar Rate Borrowings shall be made or continued Continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted Converted into Eurodollar Rate Borrowings shall be converted Converted instead into (or shall remain as) Base Rate Borrowings. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof that gave rise to the conversion Conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, then such Lender's Base Rate Borrowings shall be automatically convertedConverted, on the first (1st) day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata Pro Rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitments).
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Treatment of Affected Loans. If the obligation of any Lender to fund make or Continue Eurodollar Rate Borrowings or to continue, or to convert Convert Base Rate Borrowings into Eurodollar Rate Borrowings, Borrowings shall be suspended pursuant to SECTIONS 4.1Sections 3.14, 4.23.75, or 4.3 hereof3.76, such Lender's ’s Eurodollar Rate Borrowings shall be automatically converted Converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for all Eurodollar Rate Borrowings (or, in the case of a conversion Conversion required by SECTION 4.3 hereofSection 3.16, on such earlier date as such Lender may specify to Borrower Borrowers with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1Sections 3.14, 4.23.15, or 4.3 hereof 3.16 that gave rise to such conversion Conversion no longer exist:
(a) to the extent that such Lender's ’s Eurodollar Rate Borrowings have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's ’s Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and
(b) all Borrowings that would otherwise be made or continued Continued by such Lender as Eurodollar Rate Borrowings shall be made or continued Continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted Converted into Eurodollar Rate Borrowings shall be converted Converted instead into (or shall remain as) Base Rate Borrowings. If such Lender gives notice to Borrower Borrowers (with a copy to Administrative Agent) that the circumstances specified in SECTIONS 4.1Sections 3.14, 4.23.15, or 4.3 hereof 3.16 that gave rise to the conversion Conversion of such Lender's ’s Eurodollar Rate Borrowings pursuant to this SECTION 4.4 Section 3.17 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding), such Lender's ’s Base Rate Borrowings shall be automatically converted, Converted. on the first day(sdays) of the next succeeding Interest interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata Pro Rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitments).
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Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings or to continue, or to convert Base Rate Borrowings into Eurodollar Rate Borrowings, shall be suspended pursuant to SECTIONS 4.1, 4.2, or 4.3 hereof4.3, such Lender's Eurodollar Rate Borrowings shall be automatically converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings (or, in the case of a conversion required by SECTION 4.3 hereof4.3, on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) and, unless UNLESS and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof that gave rise to such conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and
(b) all Borrowings that would otherwise be made or continued by such Lender as Eurodollar Rate Borrowings shall be made or continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or shall remain as) Base Rate Borrowings. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof that gave rise to the conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, such Lender's Base Rate Borrowings shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata ratably (as to principal amounts, Types, and Interest Periods) in accordance with their respective CommitmentsCommitted Sums.
Appears in 1 contract
Samples: Revolving Credit Agreement (Logix Communications Enterprises Inc)
Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings or to continue, or to convert Base Rate Borrowings into Eurodollar Rate Borrowings, shall be suspended pursuant to SECTIONS 4.1, 4.2, or 4.3 hereof4.3, such Lender's Eurodollar Rate Borrowings shall be automatically converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings (or, in the case of a conversion required by SECTION 4.3 hereof4.3, on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof that gave rise to such conversion no longer exist:
(a) to To the extent that such Lender's Eurodollar Rate Borrowings have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; : and
(b) all All Borrowings that would otherwise be made or continued by such Lender as Eurodollar Rate Borrowings shall be made or continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or shall remain as) Base Rate Borrowings. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof that gave rise to the conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, such Lender's Base Rate Borrowings shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective CommitmentsCommitted Sums for the applicable Facility.
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Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings 364-DAY REVOLVING CREDIT AND TERM LOAN AGREEMENT 32 38 or to continue, or to convert Base Rate Borrowings into Eurodollar Rate Borrowings, shall be suspended pursuant to SECTIONS 4.13.15, 4.23.16, or 4.3 3.17 hereof, such Lender's Eurodollar Rate Borrowings shall be automatically converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings (or, in the case of a conversion required by SECTION 4.3 3.17 hereof, on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.13.15, 4.23.16, or 4.3 3.17 hereof that gave rise to such conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and
(b) all Borrowings that would otherwise be made or continued by such Lender as Eurodollar Rate Borrowings shall be made or continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or shall remain as) Base Rate Borrowings. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS 4.13.15, 4.23.16, or 4.3 3.17 hereof that gave rise to the conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION 4.4 3.18 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, such Lender's Base Rate Borrowings shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata Pro Rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitments.
Appears in 1 contract
Samples: 364 Day Revolving Credit and Term Loan Agreement (Worldcom Inc /Ga/)
Treatment of Affected Loans. If the obligation of any Lender to fund make any Eurodollar Rate Borrowings Loan or to continueContinue, or to convert Convert Base Rate Borrowings into Loans into, Eurodollar Rate Borrowings, Loans shall be suspended pursuant to SECTIONS 4.1, 4.2, Section 3.7 or 4.3 3.8 hereof, such Lender's Eurodollar Rate Borrowings Loans shall be automatically converted Converted into Base Rate Borrowings Loans on the last day(s) of the then current Interest Period(s) for such Eurodollar Rate Borrowings Loans (or, in the case of a conversion Conversion required by SECTION 4.3 Section 3.7 hereof, on such earlier date as such Lender may specify to the Borrower with a copy to Administrative the Agent) and, unless and until such Lender gives notice 57 as provided below that the circumstances specified in SECTIONS 4.1, 4.2, Section 3.7 or 4.3 3.8 hereof that gave rise to such conversion Conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings Loans have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings Loans shall be applied instead to its Base Rate BorrowingsLoans; and
(b) all Borrowings Loans that would otherwise be made or continued Continued by such Lender as Eurodollar Rate Borrowings Loans shall be made or continued Continued instead as Base Rate BorrowingsLoans, and all Borrowings Base Rate Loans of such Lender that would otherwise be converted Converted into Eurodollar Rate Borrowings shall be converted instead into (or Loans shall remain as) as Base Rate BorrowingsLoans. If such Lender gives notice to the Borrower (with a copy to Administrative the Agent) that the circumstances specified in SECTIONS 4.1Section 3.7, 4.2, 3.8 or 4.3 3.9 hereof that gave rise to the conversion Conversion of such Lender's Eurodollar Rate Borrowings Loans pursuant to this SECTION 4.4 Section 3.10 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings Loans made by other Lenders are outstanding, such Lender's Base Rate Borrowings Loans shall be automatically convertedConverted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate BorrowingsLoans, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings Loans held by the Lenders holding Eurodollar Loans and by such Lender are held pro rata (as to principal amounts, Typesinterest rate basis, and Interest Periods) in accordance with their respective Commitments.
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Treatment of Affected Loans. If the obligation of any Lender to fund Eurodollar Rate Borrowings or to continue, or to convert Base Rate Borrowings into Eurodollar Rate Borrowings, shall be suspended pursuant to SECTIONS 4.1, 4.2, or 4.3 hereof, such Lender's Eurodollar Rate Borrowings shall be automatically converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings (or, in the case of a conversion required by SECTION 4.3 hereof, on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof that gave rise to such conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; andand NBPLP CREDIT AGREEMENT
(b) all Borrowings that would otherwise be made or continued by such Lender as Eurodollar Rate Borrowings shall be made or continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted into Eurodollar Rate Borrowings shall be converted instead into (or shall remain as) Base Rate Borrowings. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS 4.1, 4.2, or 4.3 hereof that gave rise to the conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, such Lender's Base Rate Borrowings shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective CommitmentsCommitted Sums.
Appears in 1 contract
Samples: 364 Day Credit Agreement (Northern Border Partners Lp)
Treatment of Affected Loans. If the obligation of any Lender to --------------------------- fund Eurodollar Rate Borrowings or to continue, or to convert Base Rate Borrowings into Eurodollar Rate Borrowings, shall be suspended pursuant to SECTIONS Sections 4.1, 4.2, 4.2 or 4.3 hereof, such Lender's Eurodollar Rate Borrowings shall be automatically converted into Base Rate Borrowings on the last day(s) of the then current Interest Period(s) for Eurodollar Rate Borrowings (or, in the case of a conversion required by SECTION Section 4.3 hereof, on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in SECTIONS Sections 4.1, 4.2, 4.2 or 4.3 hereof that gave rise to such conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings have been so converted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Rate Borrowings; and
(b) all Borrowings that would otherwise be made or continued by such Lender as Eurodollar Rate Borrowings shall be made or continued instead as Base Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted into Eurodollar Rate Borrowings shall instead be converted instead into (or shall remain as) Base Rate Borrowings. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS Sections 4.1, 4.2, 4.2 or 4.3 hereof that gave rise to the conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION Section 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, such Lender's Base Rate Borrowings shall be automatically converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitments.
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Treatment of Affected Loans. If the obligation of any Lender to fund make or Continue Eurodollar Rate Borrowings or to continue, or to convert Base Convert Prime Rate Borrowings into Eurodollar Rate Borrowings, Borrowings shall be suspended pursuant to SECTIONS SECTION 4.1, 4.2, or 4.3 hereof4.3, then such Lender's Eurodollar Rate Borrowings shall be automatically converted Converted into Base Prime Rate Borrowings on the last day(s) of the then current Interest Period(s) for all Eurodollar Rate Borrowings (or, in the case of a conversion Conversion required by SECTION 4.3 hereof4.3, on such earlier date as such Lender may specify to Borrower with a copy to Administrative Agent) and, unless and LETTER OF CREDIT AND REIMBURSEMENT AGREEMENT until such Lender gives notice as provided below that the circumstances specified in SECTIONS SECTION 4.1, 4.2, or 4.3 hereof that gave rise to such conversion Conversion no longer exist:
(a) to the extent that such Lender's Eurodollar Rate Borrowings have been so convertedConverted, all payments and prepayments of principal that would otherwise be applied to such Lender's Eurodollar Rate Borrowings shall be applied instead to its Base Prime Rate Borrowings; and
(b) all Borrowings that would otherwise be made or continued Continued by such Lender as Eurodollar Rate Borrowings shall be made or continued Continued instead as Base Prime Rate Borrowings, and all Borrowings of such Lender that would otherwise be converted Converted into Eurodollar Rate Borrowings shall be converted Converted instead into (or shall remain as) Base Prime Rate Borrowings. If such Lender gives notice to Borrower (with a copy to Administrative Agent) that the circumstances specified in SECTIONS SECTION 4.1, 4.2, or OR 4.3 hereof that gave rise to the conversion Conversion of such Lender's Eurodollar Rate Borrowings pursuant to this SECTION 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when Eurodollar Rate Borrowings made by other Lenders are outstanding, then such Lender's Base Prime Rate Borrowings shall be automatically convertedConverted, on the first (1st) day(s) of the next succeeding Interest Period(s) for such outstanding Eurodollar Rate Borrowings, to the extent necessary so that, after giving effect thereto, all Eurodollar Rate Borrowings held by the Lenders and by such Lender are held pro rata Pro Rata (as to principal amounts, Types, and Interest Periods) in accordance with their respective Commitments).
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Samples: Letter of Credit and Reimbursement Agreement (Centex Development Co Lp)
