Common use of Treatment of Affected Loans Clause in Contracts

Treatment of Affected Loans. If the obligation of any Lender to make LIBOR Loans or to Continue, or to Convert ABR Loans into, LIBOR Loans shall be suspended pursuant to Section 5.03, such Lender's LIBOR Loans shall be automatically Converted into ABR Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or on such earlier date as such Lender may specify to Borrower or PR Borrower with a copy to Administrative Agent as is required by law) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which gave rise to such Conversion no longer exist: (i) to the extent that such Lender's LIBOR Loans have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Lender's LIBOR Loans shall be applied instead to its ABR Loans; and (ii) all Loans which would otherwise be made or Continued by such Lender as LIBOR Loans shall be made or Continued instead as ABR Loans and all ABR Loans of such Lender which would otherwise be Converted into LIBOR Loans shall remain as ABR Loans. If such Lender gives notice to Borrower or PR Borrower with a copy to Administrative Agent that the circumstances specified in Section 5.03 which gave rise to the Conversion of such Lender's LIBOR Loans pursuant to this Section 5.04 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans are outstanding, such Lender's ABR Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans and by such Lender are held pro rata (as to principal amounts, Types and Interest Periods) in accordance with their respective Commitments.

Appears in 3 contracts

Samples: Credit Agreement (Centennial Cellular Corp), Credit Agreement (Centennial Communications Corp /De), Reaffirmation Agreement (Centennial Communications Corp /De)

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Treatment of Affected Loans. If the obligation of any Lender to make LIBOR Loans or to Continue, or to Convert ABR Loans into, LIBOR Loans shall be suspended pursuant to Section 5.03, such Lender's LIBOR Loans shall be automatically Converted into ABR Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or on such earlier date as such Lender may specify to Borrower or PR Borrower with a copy to Administrative Agent as is required by law) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which gave rise to such Conversion no longer exist: (i) to the extent that such Lender's LIBOR Loans have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Lender's LIBOR Loans shall be applied instead to its ABR Loans; and (ii) all Loans which would otherwise be made or Continued by such Lender as LIBOR Loans shall be made or Continued instead as ABR Loans and all ABR Loans of such Lender which would otherwise be Converted into LIBOR Loans shall remain as ABR Loans. If such Lender gives notice to Borrower or PR Borrower with a copy to Administrative Agent that the circumstances specified in Section 5.03 which gave rise to the Conversion of such Lender's LIBOR Loans pursuant to this Section 5.04 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans are outstanding, such Lender's ABR Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans 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 2 contracts

Samples: Credit Agreement (Quest Diagnostics Inc), Credit Agreement (Nassau Broadcasting Corp)

Treatment of Affected Loans. If the obligation of any Lender to make LIBOR Loans or to Continue, or to Convert ABR Loans into, LIBOR Loans shall be suspended pursuant to Section 5.03, such Lender's LIBOR Loans shall be automatically Converted into ABR Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or on such earlier date as such Lender may specify to Borrower or PR Borrower with a copy to the Administrative Agent as is required by law) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which gave rise to such Conversion no longer exist: (i) to the extent that such Lender's LIBOR Loans have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Lender's LIBOR Loans shall be applied instead to its ABR Loans; and (ii) all Loans which would otherwise be made or Continued by such Lender as LIBOR Loans shall be made or Continued instead as ABR Loans and all ABR Loans of such Lender which would otherwise be Converted into LIBOR Loans shall remain as ABR Loans. If such Lender gives notice to Borrower or PR Borrower with a copy to the Administrative Agent that the circumstances specified in Section 5.03 which gave rise to the Conversion of such Lender's LIBOR Loans pursuant to this Section 5.04 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans are outstanding, such Lender's ABR Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans and by such Lender are held pro rata (as to principal amounts, Types and Interest Periods) in accordance with their respective Commitments.

Appears in 2 contracts

Samples: Credit Agreement (Atrium Companies Inc), Credit Agreement (Atrium Companies Inc)

Treatment of Affected Loans. If the obligation of any Lender to make LIBOR Loans a particular Libor Loan available to the Borrower or to Continue, Continue or to Convert ABR Base Rate Loans into, LIBOR Libor Loans shall be suspended pursuant to Section 5.036.1 or Section 6.3 (Loans of such Type being herein called “Affected Loans”), such Lender's LIBOR ’s Affected Loans shall be automatically Converted into ABR Base Rate Loans (the interest rate on which Base Rate Loans shall, if necessary, be determined by the Agent without reference to the Libor Base Rate component of the Base Rate) on the last day(s) of the then current Interest Period(s) for such LIBOR the Affected Loans (or or, in the case of a Conversion required by Section 6.3, on such earlier date as such Lender may specify to Borrower or PR the Borrower with a copy to Administrative Agent as is required by lawthe Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which 6.1 or Section 6.3 that gave rise to such Conversion no longer exist: (ia) to the extent that such Lender's LIBOR ’s Affected Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Lender's LIBOR ’s Affected Loans shall be applied instead to its ABR Base Rate Loans; and (iib) all Loans which that would otherwise be made or Continued by such Lender as LIBOR Libor Loans shall be made or Continued instead as ABR Loans Base Rate Loans, and all ABR Base Rate Loans of such Lender which that would otherwise be Converted into LIBOR Libor Loans shall remain as ABR Base Rate Loans. If With respect to outstanding Loans, if such Lender gives notice to the Borrower or PR Borrower (with a copy to Administrative Agent the Agent) that the circumstances specified in Section 5.03 which 6.1 or Section 6.3 that gave rise to the Conversion of such Lender's LIBOR ’s Affected Loans pursuant to this Section 5.04 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Libor Loans made by other Lenders are outstanding, such Lender's ABR ’s Base Rate Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Libor Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Libor Loans and by such Lender are held pro rata (as to principal amounts, Types and Interest Periods) in accordance with their respective CommitmentsCommitment Percentages.

Appears in 2 contracts

Samples: 364 Day Credit Agreement (Williams Sonoma Inc), Credit Agreement (Williams Sonoma Inc)

Treatment of Affected Loans. If the obligation of any Lender to make LIBOR Loans a particular Libor Loan or IBOR Loan (as applicable) available to the Borrower or to Continue, Continue or to Convert ABR Base Rate Loans into, LIBOR Libor Loans or IBOR Loans (as applicable) shall be suspended pursuant to Section 5.036.1 or Section 6.3 (Loans of such Type being herein called “Affected Loans”), such Lender's LIBOR ’s Affected Loans shall be automatically Converted into ABR Base Rate Loans (the interest rate on which Base Rate Loans shall, if necessary, be determined by the Agent without reference to the Libor Base Rate component of the Base Rate) on the last day(s) of the then current Interest Period(s) for such LIBOR the Affected Loans (or or, in the case of a Conversion required by Section 6.3, on such earlier date as such Lender may specify to Borrower or PR the Borrower with a copy to Administrative Agent as is required by lawthe Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which 6.1 or Section 6.3 that gave rise to such Conversion no longer exist: (ia) to the extent that such Lender's LIBOR ’s Affected Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Lender's LIBOR ’s Affected Loans shall be applied instead to its ABR Base Rate Loans; and (iib) all Loans which that would otherwise be made or Continued by such Lender as LIBOR Libor Loans or IBOR Loans (as applicable) shall be made or Continued instead as ABR Loans Base Rate Loans, and all ABR Base Rate Loans of such Lender which that would otherwise be Converted into LIBOR Libor Loans or IBOR Loans (as applicable) shall remain as ABR Base Rate Loans. If With respect to outstanding Revolving Loans, if such Lender gives notice to the Borrower or PR Borrower (with a copy to Administrative Agent the Agent) that the circumstances specified in Section 5.03 which 6.1 or Section 6.3 that gave rise to the Conversion of such Lender's LIBOR ’s Affected Loans pursuant to this Section 5.04 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Libor Loans made by other Lenders are outstanding, such Lender's ABR ’s Base Rate Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Libor Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Libor Loans and by such Lender are held pro rata (as to principal amounts, Types and Interest Periods) in accordance with their respective CommitmentsCommitment Percentages.

Appears in 1 contract

Samples: Credit Agreement (Williams Sonoma Inc)

Treatment of Affected Loans. If the obligation of any Lender to make LIBOR Loans or to Continue, or to Convert ABR Alternate Base Rate Loans into, LIBOR Loans shall be suspended pursuant to Section 5.03, such Lender's LIBOR Loans shall be automatically Converted into ABR Alternate Base Rate Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or on such earlier date as such Lender may specify to Borrower or PR Borrower with a copy to the Administrative Agent as is required by law) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which gave rise to such Conversion no longer exist: (i) to the extent that such Lender's LIBOR Loans have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Lender's LIBOR Loans shall be applied instead to its ABR Alternate Base Rate Loans; and (ii) all Loans which would otherwise be made or Continued by such Lender as LIBOR Loans shall be made or Continued instead as ABR Alternate Base Rate Loans and all ABR Alternate Base Rate Loans of such Lender which would otherwise be Converted into LIBOR Loans shall remain as ABR Alternate Base Rate Loans. If such Lender gives notice to Borrower or PR Borrower with a copy to the Administrative Agent that the circumstances specified in Section 5.03 which gave rise to the Conversion of such Lender's LIBOR Loans pursuant to this Section 5.04 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans are outstanding, such Lender's ABR Alternate Base Rate Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans 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 (Imco Recycling Inc)

Treatment of Affected Loans. If the obligation of any Lender to make LIBOR Term SOFR Loans or to Continuecontinue, or to Convert convert ABR Loans into, LIBOR Term SOFR Loans shall be suspended pursuant to Section 5.03, such Lender's LIBOR ’s Term SOFR Loans shall be automatically Converted converted into ABR Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Term SOFR Loans (or on such earlier date as such Lender may specify to Borrower or PR Borrower with a copy to Administrative Agent as is required by law) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which gave rise to such Conversion conversion no longer exist: (i) to the extent that such Lender's LIBOR ’s Term SOFR Loans have been so Convertedconverted, all payments and prepayments of principal which would otherwise be applied to such Lender's LIBOR ’s Term SOFR Loans shall be applied instead to its ABR Loans; and (ii) all Loans which would otherwise be made or Continued continued by such Lender as LIBOR Term SOFR Loans shall be made or Continued continued instead as ABR Loans and all ABR Loans of such Lender which would otherwise be Converted converted into LIBOR Term SOFR Loans shall remain as ABR Loans. If such Lender gives notice to Borrower or PR Borrower with a copy to Administrative Agent that the circumstances specified in Section 5.03 which gave rise to the Conversion conversion of such Lender's LIBOR ’s Term SOFR Loans pursuant to this Section 5.04 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Term SOFR Loans are outstanding, such Lender's ’s ABR Loans shall be automatically Convertedconverted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Term SOFR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Term SOFR Loans and by such Lender are held pro rata (as to principal amounts, Types and Interest Periods) in accordance with their respective CommitmentsCommitments of the applicable Tranche.

Appears in 1 contract

Samples: Credit Agreement (Boyd Gaming Corp)

Treatment of Affected Loans. If the obligation of any --------------------------- Lender to make LIBOR Loans or to Continue, or to Convert ABR Loans into, LIBOR Loans shall be suspended pursuant to Section 5.03, such Lender's LIBOR Loans shall be automatically Converted into ABR Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or on such earlier date as such Lender may specify to Borrower or PR Borrower with a copy to Administrative Agent as is required by law) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which gave rise to such Conversion no longer exist: (i) to the extent that such Lender's LIBOR Loans have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Lender's LIBOR Loans shall be applied instead to its ABR Loans; and (ii) all Loans which would otherwise be made or Continued by such Lender as LIBOR Loans shall be made or Continued instead as ABR Loans and all ABR Loans of such Lender which would otherwise be Converted into LIBOR Loans shall remain as ABR Loans. If such Lender gives notice to Borrower or PR Borrower with a copy to Administrative Agent that the circumstances specified in Section 5.03 which gave rise to the Conversion of such Lender's LIBOR Loans pursuant to this Section 5.04 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans are outstanding, such Lender's ABR Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans 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: Senior Subordinated Credit Agreement (Princess Beverly Coal Holding Co Inc)

Treatment of Affected Loans. If the obligation of any Lender to make LIBOR Loans or to Continue, or to Convert ABR Base Rate Loans into, LIBOR Loans shall be suspended pursuant to Section 5.034.1(b) or 4.3, then such Lender's ’s LIBOR Loans shall be automatically Converted into ABR Base Rate Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or, in the case of a Conversion required by Section 4.1(b) or 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 Borrower or PR the Borrower with a copy to Administrative Agent as is required by lawthe 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 Section 5.03 which 4.1 or 4.3 that gave rise to such Conversion no longer exist: (ia) to the extent that such Lender's ’s LIBOR Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Lender's ’s LIBOR Loans shall be applied instead to its ABR Base Rate Loans; and (iib) all any portion of such Lender’s Loans which that would otherwise be made or Continued by such Lender as LIBOR Loans shall be made or Continued instead as ABR Loans Base Rate Loans, and all ABR Base Rate Loans of such Lender which that would otherwise be Converted into LIBOR Loans shall remain as ABR Base Rate Loans. If such Lender gives notice to the Borrower or PR Borrower (with a copy to Administrative Agent the Agent) that the circumstances specified in Section 5.03 which 4.1 or 4.3 that gave rise to the Conversion of such Lender's ’s LIBOR Loans pursuant to this Section 5.04 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans of other Lenders are outstanding, then such Lender's ABR ’s Base Rate Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans and by such Lender are held pro rata (as to principal amounts, 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 Bank to make LIBOR Loans a Libor Loan or to Continue, or to Convert ABR Loans of any other Type into, LIBOR Libor Loans shall be suspended pursuant to Section 5.034.1 or 4.3 hereof (Loans of such Type being herein called "Affected Loans" and such Type being herein called the "Affected Type"), such LenderBank's LIBOR Affected Loans shall be automatically Converted into ABR Base Rate Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Affected Loans (or or, in the case of a Conversion required by Section 4.3 hereof, on such earlier date as such Lender Bank may specify be required to Borrower or PR effect a Conversion and specifies to the Borrower with a copy to Administrative Agent as is required by lawthe Agent) and, unless and until such Lender Bank gives notice as provided below that the circumstances specified in Section 5.03 which 4.1 or 4.3 hereof that gave rise to such Conversion no longer exist: (ia) to the extent that such LenderBank's LIBOR Affected Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such LenderBank's LIBOR Affected Loans shall be applied instead to its ABR Base Rate Loans; and (iib) all Loans which that would otherwise be made or Continued by such Lender Bank as LIBOR Libor Loans shall be made or Continued instead as ABR Loans Base Rate Loans, and all ABR Loans of such Lender which Bank that would otherwise be Converted into LIBOR Libor Loans shall be Converted instead into (or shall remain as ABR as) Base Rate Loans. If such Lender Bank gives notice to the Borrower or PR Borrower (with a copy to Administrative Agent the Agent) that the circumstances specified in Section 5.03 which 4.1 or 4.3 hereof that gave rise to the Conversion of such LenderBank's LIBOR Affected Loans pursuant to this Section 5.04 4.4 no longer exist (which such Lender Bank agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Libor Loans made by other Banks are outstanding, such LenderBank's ABR Base Rate Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Libor Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders Banks holding LIBOR Libor Loans and by such Lender Bank are held pro rata (as to principal amounts, Types Types, and Interest Periods) in accordance with their respective Commitments.

Appears in 1 contract

Samples: Loan Agreement (Uici)

Treatment of Affected Loans. If the obligation of any Lender to make LIBOR Loans or to Continue, or to Convert ABR Loans into, LIBOR Loans shall be suspended pursuant to Section 5.03, such Lender's LIBOR Loans shall be automatically Converted into ABR Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or on such earlier date as such Lender may specify to Borrower or PR Borrower with a copy to the Administrative Agent as is required by law) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which gave rise to such Conversion no longer exist: (i) to the extent that such Lender's LIBOR Loans have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Lender's LIBOR Loans shall be applied instead to its ABR Loans; and and (ii) all Loans which would otherwise be made or Continued by such Lender as LIBOR Loans shall be made or Continued instead as ABR Loans and all ABR Loans of such Lender which would otherwise be Converted into LIBOR Loans shall remain as ABR Loans. If such Lender gives notice to Borrower or PR Borrower with a copy to the Administrative Agent that the circumstances specified in Section 5.03 which gave rise to the Conversion of such Lender's LIBOR Loans pursuant to this Section 5.04 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans are outstanding, such Lender's ABR Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans 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: Credit Agreement (Atrium Companies Inc)

Treatment of Affected Loans. If the obligation Accounts applicable to a Loan of any Lender to make LIBOR Loans Bank (hereinafter called "Affected Accounts") are affected by Section 5.1 or to ContinueSection 5.3 hereof, or to Convert ABR Loans into, LIBOR Loans shall be suspended pursuant to Section 5.03, such Lenderthe Bank's LIBOR Loans Affected Accounts shall be automatically Converted into ABR Loans Base Rate Accounts on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or, in the case of a Conversion required by subsection 5.1(b) or Section 5.3 hereof, on such earlier date as such Lender Bank may specify to Borrower or PR the Borrower with a copy to Administrative Agent as is required by lawthe Agent) and, unless and until such Lender Bank gives notice as provided below that the circumstances specified in Section 5.03 5.1 or 5.3 hereof which gave rise to such Conversion no longer exist: : (ia) to the extent that such LenderBank's LIBOR Loans Affected Accounts have been so Converted, all payments and prepayments of principal which would otherwise be applied to such LenderBank's LIBOR Loans Affected Accounts shall be applied instead to its ABR LoansBase Rate Accounts; and and (iib) all Loans Accounts which would otherwise be made established or Continued by such Lender Bank as LIBOR Loans Libor Accounts shall be made as or Continued instead as ABR Loans Converted into Base Rate Accounts and all ABR Loans Accounts of such Lender Bank which would otherwise be Converted into LIBOR Loans Libor Accounts shall be Converted instead into (or shall remain as ABR Loansas) Base Rate Accounts. If such Lender Bank gives notice to the Borrower or PR Borrower (with a copy to Administrative Agent the Agent) that the circumstances specified in Section 5.03 5.1 or 5.3 hereof which gave rise to the Conversion of such LenderBank's LIBOR Loans Affected Accounts pursuant to this Section 5.04 5.4 no longer exist (which such Lender Bank agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans Libor Accounts are outstanding, such LenderBank's ABR Loans Base Rate Accounts shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, Libor Accounts to the extent necessary so that, after giving effect thereto, all Loans Accounts held by the Lenders Banks holding LIBOR Loans Libor Accounts and by such Lender Bank 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: Credit Agreement (Richmont Marketing Specialists Inc)

Treatment of Affected Loans. If the obligation of any Lender to make LIBOR Rate Loans or to Continue, Continue or to Convert ABR Base Rate Loans into, into LIBOR Rate Loans shall be suspended pursuant to Section Sections 5.01 or 5.03, then such Lender's LIBOR Rate Loans shall be automatically Converted into ABR Base Rate Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Rate Loans (or or, in the case of a Conversion resulting from a circumstance described in Section 5.03, on such earlier date as such Lender may specify to Borrower or PR Borrower with a copy to Administrative Agent as is required by lawAgent) and, unless and until either (i) such Lender gives notice as provided below that the circumstances specified in Section Sections 5.01 or 5.03 which that gave rise to such Conversion conversion no longer exist: exist or (iii) Borrower, in the case of Section 5.01, ends any suspension by Borrower: to the extent that such Lender's LIBOR Rate Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Lender's LIBOR Rate Loans shall be applied instead to its ABR Base Rate Loans; and (ii) and all Loans which that would otherwise be made or Continued by such Lender as LIBOR Rate Loans shall be made or Continued instead as ABR Loans Base Rate Loans, and all ABR Base Rate Loans of such Lender which that would otherwise be Converted into LIBOR Rate Loans shall remain as ABR Base Rate Loans. If such Lender gives notice to Borrower or PR Borrower with a copy to Administrative Agent that the circumstances specified in Section Sections 5.01 or 5.03 which that gave rise to the Conversion of such Lender's LIBOR Rate Loans pursuant to this Section 5.04 no longer exist (which notice such Lender agrees to do give promptly upon such circumstances ceasing to exist) or Borrower terminates its applicable suspension at a time when LIBOR Rate Loans made by other Lenders are outstanding, such Lender's ABR Base Rate Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Rate Loans, to the extent necessary so that, after giving effect thereto, all Base Rate and LIBOR Rate Loans held by are allocated among the Lenders holding LIBOR Loans 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: Construction Loan Agreement (Vail Resorts Inc)

Treatment of Affected Loans. If the obligation of any Lender to make LIBOR Term Benchmark Loans or RFR Loans or to Continue, or to Convert ABR Base Rate Loans or RFR Loans into, LIBOR Term Benchmark Loans or RFR Loans shall be suspended pursuant to Section 5.034.3, then such Lender's LIBOR ’s Term Benchmark Loans shall be automatically Converted into ABR Base Rate Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Term Benchmark Loans (or or, in the case of a Conversion required by Section 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 Borrower or PR the Borrower with a copy to Administrative Agent as is required the Agent) or on the date specified by lawsuch Lender for RFR Loans (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 Section 5.03 which 4.1 or 4.3 that gave rise to such Conversion no longer exist: (ia) to the extent that such Lender's LIBOR Xxxxxx’s Term Benchmark Loans or RFR Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Lender's LIBOR ’s Term Benchmark Loans or RFR Loans shall be applied instead to its ABR Base Rate Loans; and (iib) all any portion of such Lender’s Loans which that would otherwise be made or Continued by such Lender as LIBOR Term Benchmark Loans or RFR Loans shall be made or Continued instead as ABR Loans Base Rate Loans, and all ABR Base Rate Loans of such Lender which that would otherwise be Converted into LIBOR Term Benchmark Loans or RFR Loans shall remain as ABR Base Rate Loans. If such Lender gives notice to the Borrower or PR Borrower (with a copy to Administrative Agent the Agent) that the circumstances specified in Section 5.03 which 4.1 or 4.3 that gave rise to the Conversion of such Lender's LIBOR ’s Term Benchmark Loans or RFR Loans pursuant to this Section 5.04 no longer exist (which such Lender Xxxxxx agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Term Benchmark Loans or RFR Loans made by other Lenders are outstanding, then such Lender's ABR ’s Base Rate Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Term Benchmark Loans or RFR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Term Benchmark Loans or RFR Loans and by such Lender are held pro rata (as to principal amounts, 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 --------------------------- make LIBOR Loans or to Continue, or to Convert ABR Loans into, LIBOR Loans shall be suspended pursuant to Section 5.03, such Lender's LIBOR Loans shall be automatically Converted into ABR Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or on such earlier date as such Lender may specify to Borrower or PR Borrower with a copy to Administrative Agent as is required by law) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which gave rise to such Conversion no longer exist: (i) to the extent that such Lender's LIBOR Loans have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Lender's LIBOR Loans shall be applied instead to its ABR Loans; and (ii) all Loans which would otherwise be made or Continued by such Lender as LIBOR Loans shall be made or Continued instead as ABR Loans and all ABR Loans of such Lender which would otherwise be Converted into LIBOR Loans shall remain as ABR Loans. If such Lender gives notice to Borrower or PR Borrower with a copy to Administrative Agent that the circumstances specified in Section 5.03 which gave rise to the Conversion of such Lender's LIBOR Loans pursuant to this Section 5.04 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans are outstanding, such Lender's ABR Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans 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: Credit Agreement (Princess Beverly Coal Holding Co Inc)

Treatment of Affected Loans. If the obligation of any Lender --------------------------- to make LIBOR Loans or to Continue, or to Convert ABR Alternate Base Rate Loans into, LIBOR Loans shall be suspended pursuant to Section 5.03, such Lender's LIBOR Loans shall be automatically Converted into ABR Alternate Base Rate Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or on such earlier date as such Lender may specify to Borrower or PR Borrower with a copy to the Administrative Agent as is required by law) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which gave rise to such Conversion no longer exist: (iI) to the extent that such Lender's LIBOR Loans have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Lender's LIBOR Loans shall be applied instead to its ABR Alternate Base Rate Loans; and (iiII) all Loans which would otherwise be made or Continued by such Lender as LIBOR Loans shall be made or Continued instead as ABR Alternate Base Rate Loans and all ABR Alternate Base Rate Loans of such Lender which would otherwise be Converted into LIBOR Loans shall remain as ABR Alternate Base Rate Loans. If such Lender gives notice to Borrower or PR Borrower with a copy to the Administrative Agent that the circumstances specified in Section 5.03 which gave rise to the Conversion of such Lender's LIBOR Loans pursuant to this Section 5.04 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans are outstanding, such Lender's ABR Alternate Base Rate Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans 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: Credit Agreement (Tmil Corp)

Treatment of Affected Loans. If the obligation of any Lender to make LIBOR Loans or to Continue, or to Convert ABR Base Rate Loans into, LIBOR Loans shall be suspended pursuant to Section 5.034.1(b) or 4.3, then such Lender's LIBOR Loans shall be automatically Converted into ABR Base Rate Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or or, in the case of a Conversion required by Section 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 Borrower or PR the Borrower with a copy to Administrative Agent as is required by lawthe 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 Section 5.03 which 4.1 or 4.3 that gave rise to such Conversion no longer exist: (ia) to the extent that such Lender's LIBOR Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Lender's LIBOR Loans shall be applied instead to its ABR Base Rate Loans; and (iib) all Loans which that would otherwise be made or Continued by such Lender as LIBOR Loans shall be made or Continued instead as ABR Loans Base Rate Loans, and all ABR Base Rate Loans of such Lender which that would otherwise be Converted into LIBOR Loans shall remain as ABR Base Rate Loans. If such Lender gives notice to the Borrower or PR Borrower (with a copy to Administrative Agent the Agent) that the circumstances specified in Section 5.03 which 4.1 or 4.3 that gave rise to the Conversion of such Lender's LIBOR Loans pursuant to this Section 5.04 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans made by other Lenders are outstanding, then such Lender's ABR Base Rate Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans 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 Agreement (Piedmont Office Realty Trust, Inc.)

Treatment of Affected Loans. If the obligation of any Lender to make LIBOR Loans a Eurodollar Rate Loan or to Continue, or to Convert ABR Loans of any other Type into, LIBOR Loans of a particular Type shall be suspended pursuant to Section 5.03SECTION 6.1 OR 6.3 hereof (Loans of such Type being herein called "Affected Loans" and such Type being herein called the "Affected Type"), such Lender's LIBOR Affected Loans shall be automatically Converted into ABR Base Rate Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Affected Loans (or or, in the case of a Conversion required by SECTION 6.3 hereof, on such earlier date as such Lender may specify to Borrower or PR the Borrower with a copy to Administrative Agent as is required by lawthe Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which SECTION 6.1 OR 6.3 hereof that gave rise to such Conversion no longer exist: (ia) to the extent that such Lender's LIBOR Affected Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Lender's LIBOR Affected Loans shall be applied instead to its ABR Base Rate Loans; and (iib) all Loans which that would otherwise be made or Continued by such Lender as LIBOR Loans of the Affected Type shall be made or Continued instead as ABR Loans Base Rate Loans, and all ABR Loans of such Lender which that would otherwise be Converted into LIBOR Loans of the Affected Type shall be Converted instead into (or shall remain as ABR as) Base Rate Loans. If such Lender gives notice to the Borrower or PR Borrower (with a copy to Administrative Agent the Agent) that the circumstances specified in Section 5.03 which SECTION 6.1 OR 6.3 hereof that gave rise to the Conversion of such Lender's LIBOR Affected Loans pursuant to this Section 5.04 SECTION 6.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans of the Affected Type made by other Lenders are outstanding, such Lender's ABR Base Rate Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR LoansLoans of the Affected Type, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans of the Affected Type and by such Lender are held pro rata (as to principal amounts, Types Types, and Interest Periods) in accordance with their respective Revolving Credit Commitments.

Appears in 1 contract

Samples: Annual Report

Treatment of Affected Loans. If the obligation of any Lender to make LIBOR Loans or to Continuecontinue, or to Convert convert ABR Loans into, LIBOR Loans shall be suspended pursuant to Section 5.03, such Lender's ’s LIBOR Loans shall be automatically Converted converted into ABR Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or on such earlier date as such Lender may specify to Borrower or PR Borrower with a copy to Administrative Agent as is required by law) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which gave rise to such Conversion conversion no longer exist: : (i) to the extent that such Lender's ’s LIBOR Loans have been so Convertedconverted, all payments and prepayments of principal which would otherwise be applied to such Lender's ’s LIBOR Loans shall be applied instead to its ABR Loans; and and (ii) all Loans which would otherwise be made or Continued continued by such Lender as LIBOR Loans shall be made or Continued continued instead as ABR Loans and all ABR Loans of such Lender which would otherwise be Converted converted into LIBOR Loans shall remain as ABR Loans. If such Lender gives notice to Borrower or PR Borrower with a copy to Administrative Agent that the circumstances specified in Section 5.03 which gave rise to the Conversion conversion of such Lender's ’s LIBOR Loans pursuant to this Section 5.04 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans are outstanding, such Lender's ’s ABR Loans shall be automatically Convertedconverted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans 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: Credit Agreement (Wynn Resorts LTD)

Treatment of Affected Loans. If the obligation of any Lender to make LIBOR Loans or to Continue, or to Convert ABR Base Rate Loans into, LIBOR Loans shall be is suspended pursuant to Section 5.034.1 or 4.3 hereof, such Lender's LIBOR Loans shall be automatically Converted into ABR Base Rate Loans on the last day(s) of the then current Interest Period(s) for such the LIBOR Loans (or on such earlier date as such Lender may specify to Borrower or PR Borrower the Borrowers with a copy to the Administrative Agent as is required by lawAgent) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 4.1 or 4.3 hereof which gave rise to such Conversion no longer exist: (ia) to the extent that such Lender's LIBOR Loans have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Lender's LIBOR Loans shall be applied instead to its ABR Base Rate Loans; and (iib) all Loans which would otherwise be made or Continued by such Lender as LIBOR Loans shall be made as or Continued instead as ABR Converted into Base Rate Loans and all ABR Loans of such Lender which would otherwise be Converted into LIBOR Loans shall be Converted instead into (or shall remain as ABR as) Base Rate Loans. If such Lender gives notice to Borrower or PR Borrower with a copy to Administrative Agent the Borrowers that the circumstances specified in Section 5.03 4.1 or 4.3 hereof which gave rise to the Conversion of such Lender's LIBOR Loans pursuant to this Section 5.04 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans are outstanding, such Lender's ABR Base Rate Loans shall be automatically [ ]Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans 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: Credit Agreement (Oao Technology Solutions Inc)

Treatment of Affected Loans. If the obligation of any Lender to make LIBOR Loans or to Continue, or to Convert ABR Base Rate Loans into, LIBOR Loans shall be suspended pursuant to Section 5.034.1(b) or 4.3, then such Lender's LIBOR Loans shall be automatically Converted into ABR Base Rate Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or, in the case of a Conversion required by Section 4.1(b) or 4.3, on such earlier date as such Lender may specify to Borrower or PR the Borrower with a copy to Administrative Agent as is required by lawthe Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which 4.1 or 4.3 that gave rise to such Conversion no longer exist: (ia) to the extent that such Lender's LIBOR Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Lender's LIBOR Loans shall be applied instead to its ABR Base Rate Loans; and (iib) all any portion of such Lender's Loans which that would otherwise be made or Continued by such Lender as LIBOR Loans shall be made or Continued instead as ABR Loans Base Rate Loans, and all ABR Base Rate Loans of such Lender which that would otherwise be Converted into LIBOR Loans shall remain as ABR Base Rate Loans. If such Lender gives notice to the Borrower or PR Borrower (with a copy to Administrative Agent the Agent) that the circumstances specified in Section 5.03 which 4.1 or 4.3 that gave rise to the Conversion of such Lender's LIBOR Loans pursuant to this Section 5.04 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans of other Lenders are outstanding, then such Lender's ABR Base Rate Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, Loans to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders Lenders, holding LIBOR Loans and by such Lender are held pro rata (as to principal amounts, 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 make LIBOR Rate Loans or to Continue, Continue or to Convert ABR Base Rate Loans into, into LIBOR Rate Loans shall be suspended pursuant to Section 5.01 or 5.03, then such Lender's LIBOR Rate Loans shall be automatically Converted into ABR Base Rate Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Rate Loans (or or, in the case of a Conversion resulting from a circumstance described in Section 5.03, on such earlier date as such Lender may specify to Borrower or PR Borrower with a copy to Administrative Agent as is required by lawAgent) and, unless and until either (i) such Lender gives notice as provided below that the circumstances specified in Section 5.01 or 5.03 which that gave rise to such Conversion conversion no longer exist: exist or (iii) Borrower, in the case of Section 5.01, ends any suspension by Borrower: to the extent that such Lender's LIBOR Rate Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Lender's LIBOR Rate Loans shall be applied instead to its ABR Base Rate Loans; and (ii) and all Loans which that would otherwise be made or Continued by such Lender as LIBOR Rate Loans shall be made or Continued instead as ABR Loans Base Rate Loans, and all ABR Base Rate Loans of such Lender which that would otherwise be Converted into LIBOR Rate Loans shall remain as ABR Base Rate Loans. If such Lender gives notice to Borrower or PR Borrower with a copy to Administrative Agent that the circumstances specified in Section 5.01 or 5.03 which that gave rise to the Conversion of such Lender's LIBOR Rate Loans pursuant to this Section 5.04 no longer exist (which notice such Lender agrees to do give promptly upon such circumstances ceasing to exist) or Borrower terminates its applicable suspension at a time when LIBOR Rate Loans made by other Lenders are outstanding, such Lender's ABR Base Rate Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Rate Loans, to the extent necessary so that, after giving effect thereto, all Base Rate and LIBOR Rate Loans held by are allocated among the Lenders holding LIBOR Loans 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: Construction Loan Agreement (Vail Resorts Inc)

Treatment of Affected Loans. If the obligation of any Lender to make LIBOR LIBORTerm Benchmark Loans or RFR Loans or to Continue, or to Convert ABR Base Rate Loans or RFR Loans into, LIBOR LIBORTerm Benchmark Loans or RFR Loans shall be suspended pursuant to Section 5.034.1(b) or 4.3, then such Lender's LIBOR ’s LIBORTerm Benchmark Loans or RFR Loans shall be automatically Converted into ABR Base Rate Loans on the last day(s) of the then current Interest Period(s) for such LIBOR LIBORTerm Benchmark Loans (or, in the case of a Conversion required by Section 4.1(b) or 4.3, if such Lender has determined in good faith that it may not lawfully continue to maintain any LIBORTerm Benchmark Loans to the end of the then current Interest Period, then on such earlier date as such Lender may specify to Borrower or PR the Borrower with a copy to Administrative Agent as is required the Agent) or on the date specified by lawsuch Lender for RFR Loans (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 Section 5.03 which 4.1 or 4.3 that gave rise to such Conversion no longer exist: (ia) to the extent that such Lender's LIBOR Xxxxxx’s LIBORTerm Benchmark Loans or RFR Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Lender's ’s LIBOR Term Benchmark Loans or RFR Loans shall be applied instead to its ABR Base Rate Loans; and (iib) all any portion of such Lender’s Loans which that would otherwise be made or Continued by such Lender as LIBOR LIBORTerm Benchmark Loans or RFR Loans shall be made or Continued instead as ABR Loans Base Rate Loans, and all ABR Base Rate Loans of such Lender which that would otherwise be Converted into LIBOR LIBORTerm Benchmark Loans or RFR Loans shall remain as ABR Base Rate Loans. If such Lender gives notice to the Borrower or PR Borrower (with a copy to Administrative Agent the Agent) that the circumstances specified in Section 5.03 which 4.1 or 4.3 that gave rise to the Conversion of such Lender's LIBOR ’s LIBORTerm Benchmark Loans or RFR Loans pursuant to this Section 5.04 no longer exist (which such Lender Xxxxxx agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR LIBORTerm Benchmark Loans or RFR Loans made by other Lenders are outstanding, then such Lender's ABR ’s Base Rate Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR LIBORTerm Benchmark Loans or RFR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR LIBORTerm Benchmark Loans or RFR Loans and by such Lender are held pro rata (as to principal amounts, 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 make LIBOR LIBOR-based Loans or to Continue, or to Convert ABR Base Rate Loans into, LIBOR LIBOR-based Loans shall be suspended pursuant to Section 5.032.9(2) or 2.9(3), such Lender's LIBOR ’s Loans shall be automatically Converted into ABR Base Rate Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or or, in the case of a Conversion resulting from a circumstance described in Section 2.9(3), on such earlier date as such Lender may specify to Borrower (but not earlier than the date of such notice or PR Borrower the date required by the applicable law giving rise to a circumstance described in Section 2.9(3)) with a copy to Administrative Agent as is required by lawAgent) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which 2.9(2) or 2.9(3) that gave rise to such Conversion no longer exist: (ia) to the extent that such Lender's LIBOR ’s Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Lender's LIBOR ’s Loans shall be applied instead to its ABR Base Rate Loans; and (iib) all Loans which that would otherwise be made or Continued by such Lender as LIBOR LIBOR-based Loans shall be made or Continued instead as ABR Loans Base Rate Loans, and all ABR Loans of such Lender which that would otherwise be Converted into LIBOR LIBOR-based Loans shall remain as ABR Base Rate Loans. If such Lender gives notice to Borrower or PR Borrower with a copy to Administrative Agent that the circumstances specified in Section 5.03 which 2.9(2) or 2.9(3) that gave rise to the Conversion of such Lender's LIBOR ’s Loans pursuant to this Section 5.04 2.9(4) no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR LIBOR-based Loans made by other Lenders are outstanding, such Lender's ABR ’s Base Rate Loans shall be automatically ConvertedConverted effective as of the date such circumstances cease to exist, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR LIBOR-based Loans, to the extent necessary so that, after giving effect thereto, all Base Rate Loans held by and LIBOR-based Loans are allocated among the Lenders holding LIBOR Loans 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: Loan Agreement (General Growth Properties Inc)

Treatment of Affected Loans. If the obligation of any Lender to make a LIBOR Loans Rate Loan or to Continuecontinue, or or, to Convert ABR the extent applicable, convert Variable Rate Loans into, into LIBOR Rate Loans shall be suspended pursuant to Section 5.03Sections 4.1 or 4.3, such Lender's LIBOR Rate Loans shall be automatically Converted converted into ABR Variable Rate Loans on the last day(s) of the then current Interest Period(s) Period for such LIBOR Rate Loans (or or, in the case of a conversion required by Section 4.3, on such earlier date as such Lender may specify to Borrower or PR Borrower with a copy to Administrative Agent as is required by lawthe Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which Sections 4.1 or 4.3 that gave rise to such Conversion conversion no longer exist: (ia) to the extent that such Lender's 's LIBOR Rate Loans have been so Convertedconverted, all payments and prepayments of principal which and interest that would otherwise be applied to such Lender's LIBOR Rate Loans shall be applied instead to its ABR Variable Rate Loans; and (iib) all Loans which that would otherwise be made or Continued continued by such Lender as LIBOR Rate Loans shall be made or Continued continued instead as ABR Loans Variable Rate Loans, and all ABR Variable Rate Loans of such Lender which that would otherwise be Converted converted into LIBOR Rate Loans shall remain as ABR Variable Rate Loans. If such Lender gives notice to Borrower or PR Borrower (with a copy to Administrative Agent the Agent) that the circumstances specified in Section 5.03 which Sections 4.1 or 4.3 that gave rise to the Conversion conversion of such Lender's LIBOR Loans pursuant to this Section 5.04 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at such Lender's Variable Rate Loans shall be automatically converted to a time when LIBOR Rate Loan, provided that with respect to a Revolving Lender, if LIBOR Rate Loans by other Revolving Lenders are outstanding, such Lender's ABR Variable Rate Loans shall instead be automatically Converted, converted on the first day(s) of the next succeeding Interest Period(s) Period for such outstanding LIBOR Rate Loans, to the extent necessary so that, after giving effect thereto, all LIBOR Rate Loans held made by the all Revolving Lenders holding LIBOR Loans and by such Lender are held made pro rata (as to principal amounts, Types amounts and Interest Periods) in accordance with their respective CommitmentsRevolving Loan Percentages.

Appears in 1 contract

Samples: Secured Revolving and Term Loan Agreement (American Residential Services Inc)

Treatment of Affected Loans. If the obligation of any Lender --------------------------- to make LIBOR Loans or to Continue, or to Convert ABR Alternate Base Rate Loans into, LIBOR Loans shall be suspended pursuant to Section 5.03, such Lender's LIBOR Loans shall be automatically Converted into ABR Alternate Base Rate Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or on such earlier date as such Lender may specify to Borrower or PR Borrower with a copy to the Administrative Agent as is required by law) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which gave rise to such Conversion no longer exist: (i) to the extent that such Lender's LIBOR Loans have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Lender's LIBOR Loans shall be applied instead to its ABR Alternate Base Rate Loans; and (ii) all Loans which would otherwise be made or Continued by such Lender as LIBOR Loans shall be made or Continued instead as ABR Alternate Base Rate Loans and all ABR Alternate Base Rate Loans of such Lender which would otherwise be Converted into LIBOR Loans shall remain as ABR Alternate Base Rate Loans. If such Lender gives notice to Borrower or PR Borrower with a copy to the Administrative Agent that the circumstances specified in Section 5.03 which gave rise to the Conversion of such Lender's LIBOR Loans pursuant to this Section 5.04 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans are outstanding, such Lender's ABR Alternate Base Rate Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans 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: Credit Agreement (Tuesday Morning Corp/De)

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Treatment of Affected Loans. If the obligation of any Lender --------------------------- to make LIBOR Loans or to Continue, or to Convert ABR Loans into, LIBOR Loans shall be suspended pursuant to Section 5.03, such Lender's LIBOR Loans shall be automatically Converted into ABR Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or on such earlier date as such Lender may specify to Borrower or PR Borrower with a copy to Administrative Agent as is required by law) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which gave rise to such Conversion no longer exist: (i) to the extent that such Lender's LIBOR Loans have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Lender's LIBOR Loans shall be applied instead to its ABR Loans; and (ii) all Loans which would otherwise be made or Continued by such Lender as LIBOR Loans shall be made or Continued instead as ABR Loans and all ABR Loans of such Lender which would otherwise be Converted into LIBOR Loans shall remain as ABR Loans, interest on which shall, in each case, be paid on the dates upon which interest is payable on the corresponding LIBOR Loans of the other Lenders. If such Lender gives notice to Borrower or PR Borrower with a copy to Administrative Agent that the circumstances specified in Section 5.03 which gave rise to the Conversion of such Lender's LIBOR Loans pursuant to this Section 5.04 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans are outstanding, such Lender's ABR Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans 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: Credit Agreement (Imagistics International Inc)

Treatment of Affected Loans. If the obligation of any Lender to make LIBOR Loans or to Continuecontinue, or to Convert convert ABR Loans into, LIBOR Loans shall be suspended pursuant to Section 5.03, such Lender's ’s LIBOR Loans shall be automatically Converted converted into ABR Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or on such earlier date as such Lender may specify to Borrower or PR Borrower with a copy to Administrative Agent as is required by law) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which gave rise to such Conversion conversion no longer exist: (i) to the extent that such Lender's Xxxxxx’s LIBOR Loans have been so Convertedconverted, all payments and prepayments of principal which would otherwise be applied to such Lender's ’s LIBOR Loans shall be applied instead to its ABR Loans; and (ii) all Loans which would otherwise be made or Continued continued by such Lender as LIBOR Loans shall be made or Continued continued instead as ABR Loans and all ABR Loans of such Lender which would otherwise be Converted converted into LIBOR Loans shall remain as ABR Loans. If such Lender gives notice to Borrower or PR Borrower with a copy to Administrative Agent that the circumstances specified in Section 5.03 which gave rise to the Conversion conversion of such Lender's Xxxxxx’s LIBOR Loans pursuant to this Section 5.04 no longer exist (which such Lender Xxxxxx agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans are outstanding, such Lender's Xxxxxx’s ABR Loans shall be automatically Convertedconverted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans 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: Credit Agreement

Treatment of Affected Loans. If the obligation of any Lender to make LIBOR Loans or to Continue, or to Convert ABR Base Rate Loans into, LIBOR Loans shall be suspended pursuant to Section 5.032.9(2) or 2.9(3), such Lender's LIBOR ’s Loans shall be automatically Converted into ABR Base Rate Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or or, in the case of a Conversion resulting from a circumstance described in Section 2.9(3), on such earlier date as such Lender may specify to Borrower Borrowers (but not earlier than the date of such notice or PR Borrower the date required by the applicable law giving rise to a circumstance described in Section 2.9(3)) with a copy to Administrative Agent as is required by lawAgent) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which 2.9(2) or 2.9(3) that gave rise to such Conversion no longer exist: (i) a. to the extent that such Lender's LIBOR ’s Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Lender's ’s LIBOR Loans shall be applied instead to its ABR Base Rate Loans; and (ii) b. all Loans which that would otherwise be made or Continued by such Lender as LIBOR Loans shall be made or Continued instead as ABR Loans Base Rate Loans, and all ABR Loans of such Lender which that would otherwise be Converted into LIBOR Loans shall remain as ABR Base Rate Loans. If such Lender gives notice to Borrower or PR Borrower Borrowers with a copy to Administrative Agent that the circumstances specified in Section 5.03 which 2.9(2) or 2.9(3) that gave rise to the Conversion of such Lender's LIBOR ’s Loans pursuant to this Section 5.04 2.9(4) no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans made by other Lenders are outstanding, such Lender's ABR ’s Base Rate Loans shall be automatically ConvertedConverted effective as of the date such circumstances cease to exist, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Base Rate Loans held by and LIBOR Loans are allocated among the Lenders holding LIBOR Loans and by such Lender are held pro rata ratably (as to principal amounts, amounts and Types and Interest Periods) in accordance with their respective Commitments.

Appears in 1 contract

Samples: Loan Agreement (General Growth Properties, Inc.)

Treatment of Affected Loans. If the obligation of any Lender to make LIBOR Loans a Eurodollar Rate Loan or to Continue, or to Convert ABR Loans of any other Type into, LIBOR Loans of a particular Type shall be suspended pursuant to Section 5.036.1 or 6.3 hereof (Loans of such Type being herein called “Affected Loans” and such Type being herein called the “Affected Type”), such Lender's LIBOR ’s Affected Loans shall be automatically Converted into ABR Loans Base Rate Loans, having a Base Rate as elected by the Borrower, on the last day(s) of the then current Interest Period(s) for such LIBOR Affected Loans (or or, in the case of a Conversion required by Section 6.3 hereof, on such earlier date as such Lender may specify to Borrower or PR the Borrower with a copy to Administrative Agent as is required by lawthe Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which 6.1 or 6.3 hereof that gave rise to such Conversion no longer exist: (ia) to the extent that such Lender's LIBOR ’s Affected Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Lender's LIBOR ’s Affected Loans shall be applied instead to its ABR Base Rate Loans; and (iib) all Loans which that would otherwise be made or Continued by such Lender as LIBOR Loans of the Affected Type shall be made or Continued instead as ABR Loans Base Rate Loans, having a Base Rate as elected by the Borrower, and all ABR Loans of such Lender which that would otherwise be Converted into LIBOR Loans of the Affected Type shall be Converted instead into (or shall remain as) Base Rate Loans, having a Base Rate as ABR Loanselected by the Borrower. If such Lender gives notice to the Borrower or PR Borrower (with a copy to Administrative Agent the Agent) that the circumstances specified in Section 5.03 which 6.1 or 6.3 hereof that gave rise to the Conversion of such Lender's LIBOR ’s Affected Loans pursuant to this Section 5.04 6.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans of the Affected Type made by other Lenders are outstanding, such Lender's ABR ’s Base Rate Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR LoansLoans of the Affected Type, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans of the Affected Type and by such Lender are held pro rata (as to principal amounts, Types Types, and Interest Periods) in accordance with their respective Revolving Credit Commitments.

Appears in 1 contract

Samples: Credit Agreement (Covenant Transport Inc)

Treatment of Affected Loans. If the obligation of any Lender to make LIBOR Eurocurrency Loans or to Continue, or to Convert ABR Base Rate Loans into, LIBOR Eurocurrency Loans shall be suspended pursuant to Section 5.035.01 hereof, such Lender's LIBOR Eurocurrency Loans shall be automatically Converted into ABR Base Rate Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans ((or on such earlier date as such Lender may specify to Borrower or PR Borrower with a copy to Administrative Agent as is required by lawDefault Interest Period(s)) for Eurocurrency Loans and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which 5.01 hereof that gave rise to such Conversion no longer exist: (ia) to the extent that such Lender's LIBOR Eurocurrency Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Lender's LIBOR Eurocurrency Loans shall be applied instead to its ABR Base Rate Loans; and (iib) all Loans which that would otherwise be made or Continued by such Lender as LIBOR Eurocurrency Loans shall be made or Continued instead as ABR Loans Base Rate Loans, and all ABR Base Rate Loans of such Lender which that would otherwise be Converted into LIBOR Eurocurrency Loans shall remain as ABR Base Rate Loans. If such Lender gives notice to Borrower or PR Borrower the Borrowers with a copy to the Administrative Agent that the circumstances specified in Section 5.03 which 5.01 hereof that gave rise to the Conversion of such Lender's LIBOR Eurocurrency Loans pursuant to this Section 5.04 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Eurocurrency Loans made by other Lenders are outstanding, such Lender's ABR Base Rate Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) (or Default Interest Period(s)) for such outstanding LIBOR Eurocurrency Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Eurocurrency Loans and by such Lender are held pro rata (as to principal amounts, Types Types, Interest Periods and Default Interest Periods, as applicable) in accordance with their respective Commitments.

Appears in 1 contract

Samples: Credit Agreement (Fabrene Group Inc)

Treatment of Affected Loans. If the obligation of any Lender to make LIBOR Loans or to Continue, or to Convert ABR Loans into, LIBOR Loans shall be suspended pursuant to Section 5.03, such Lender's LIBOR Loans shall be automatically Converted into ABR Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or on such earlier date as such Lender may specify to Borrower or PR Borrower with a copy to Administrative Agent as is required by law) and, unless and until such Lender gives notice as provided below that the circumstances specified circumstancxx xxxcified in Section 5.03 which gave rise to such Conversion no longer exist: (i) to the extent that such Lender's LIBOR Loans have been so Converted, all payments xxxxxxts and prepayments of principal which would otherwise be applied to such Lender's LIBOR Loans shall be applied instead to its ABR Loans; and (ii) all Loans which would otherwise be made or Continued by such Lender as LIBOR Loans shall be made or Continued instead as ABR Loans and all ABR Loans of such Lender which would otherwise be Converted into LIBOR Loans shall remain as ABR Loans. If such Lender gives notice to Borrower or PR Borrower with a copy to Administrative Agent that the circumstances specified in Section 5.03 which gave rise to the Conversion of such Lender's LIBOR Loans pursuant to this Section 5.04 no longer exist longxx xxxst (which such Lender agrees to do promptly upon such circumstances ceasing to ceasixx xx exist) at a time when LIBOR Loans are outstanding, such Lender's ABR Loans shall be automatically Converted, on the first thx xxxxt day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans 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: Credit Agreement (Pricellular Corp)

Treatment of Affected Loans. If the obligation of any Lender to make LIBOR Loans or to Continue, or to Convert ABR Loans into, LIBOR Loans shall be suspended pursuant to Section 5.03, such Lender's LIBOR Loans shall be automatically Converted into ABR Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or on such earlier date as such Lender may specify to Borrower or PR Borrower with a copy to the Administrative Agent as is required by law) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which gave rise to such Conversion no longer exist: (i) to the extent that such Lender's LIBOR Loans have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Lender's LIBOR Loans shall be applied instead to its ABR Loans; and (ii) all Loans which would otherwise be made or Continued by such Lender as LIBOR Loans shall be made or Continued instead as ABR Loans and all ABR Loans of such Lender which would otherwise be Converted into LIBOR Loans shall remain as ABR Loans. If such Lender gives notice to Borrower or PR Borrower with a copy to the Administrative Agent that the circumstances specified in Section 5.03 which gave rise to the Conversion of such Lender's LIBOR Loans pursuant to this Section 5.04 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans are outstanding, such Lender's ABR Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans 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 (Atrium Companies Inc)

Treatment of Affected Loans. If the obligation of any Lender to make LIBOR Loans or to Continue, or to Convert ABR Loans into, LIBOR Loans shall be suspended pursuant to Section 5.03, such Lender's LIBOR Loans shall be automatically Converted into ABR Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or on such earlier date as such Lender may specify to Borrower or PR Borrower with a copy to Administrative Agent as is required by law) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which gave rise to such Conversion no longer exist: (i) to the extent that such Lender's LIBOR Loans have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Lender's LIBOR Loans shall be applied instead to its ABR Loans; and (ii) all Loans which would otherwise be made or Continued by such Lender as LIBOR Loans shall be made or Continued instead as ABR Loans and all ABR Loans of such Lender which would otherwise be Converted into LIBOR Loans shall remain as ABR Loans, interest on which shall, in each case, be paid on the dates upon which interest is payable on the corresponding LIBOR Loans of the other Lenders. If such Lender gives notice to Borrower or PR Borrower with a copy to Administrative Agent that the circumstances specified in Section 5.03 which gave rise to the Conversion of such Lender's LIBOR Loans pursuant to this Section 5.04 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans are outstanding, such Lender's ABR Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans 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: Credit Agreement (Imagistics International Inc)

Treatment of Affected Loans. If the obligation of any Lender to make LIBOR Loans a particular Libor Loan available to the Borrower or to Continue, Continue or to Convert ABR Base Rate Loans into, LIBOR Libor Loans shall be suspended pursuant to Section 5.036.1 or Section 6.3 (Loans of such Type being herein called “Affected Loans”), such Lender's LIBOR ’s Affected Loans shall be automatically Converted into ABR Base Rate Loans (the interest rate on which Base Rate Loans shall, if necessary, be determined by the Agent without reference to the Libor Base Rate component of the Base Rate) on the last day(s) of the then current Interest Period(s) for such LIBOR the Affected Loans (or or, in the case of a Conversion required by Section 6.3, on such earlier date as such Lender may specify to Borrower or PR the Borrower with a copy to Administrative Agent as is required by lawthe Agent) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which 6.1 or Section 6.3 that gave rise to such Conversion no longer exist: (ia) to the extent that such Lender's LIBOR ’s Affected Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Lender's LIBOR ’s Affected Loans shall be applied instead to its ABR Base Rate Loans; and (iib) all Loans which that would otherwise be made or Continued by such Lender as LIBOR Libor Loans shall be made or Continued instead as ABR Loans Base Rate Loans, and all ABR Base Rate Loans of such Lender which that would otherwise be Converted into LIBOR Libor Loans shall remain as ABR Base Rate Loans. If With respect to outstanding Revolving Loans, if such Lender gives notice to the Borrower or PR Borrower (with a copy to Administrative Agent the Agent) that the circumstances specified in Section 5.03 which 6.1 or Section 6.3 that gave rise to the Conversion of such Lender's LIBOR ’s Affected Loans pursuant to this Section 5.04 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Libor Loans made by other Lenders are outstanding, such Lender's ABR ’s Base Rate Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Libor Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Libor Loans and by such Lender are held pro rata (as to principal amounts, Types and Interest Periods) in accordance with their respective CommitmentsCommitment Percentages.

Appears in 1 contract

Samples: Credit Agreement (Williams Sonoma Inc)

Treatment of Affected Loans. If the obligation of any Revolving Credit Lender to make LIBOR Loans or to Continue, or to Convert ABR Alternate Base Rate Loans into, LIBOR Loans shall be suspended pursuant to Section 5.035.3, such Revolving Credit Lender's ’s LIBOR Loans shall be automatically Converted into ABR Alternate Base Rate Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or on such earlier date as such Revolving Credit Lender may specify to Borrower or PR Borrower with a copy to the Administrative Agent as is required by law) and, unless and until such Revolving Credit Lender gives notice as provided below that the circumstances specified in Section 5.03 5.3 which gave rise to such Conversion no longer exist: (ia) to the extent that such Revolving Credit Lender's ’s LIBOR Loans have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Revolving Credit Lender's ’s LIBOR Loans shall be applied instead to its ABR Alternate Base Rate Loans; and (iib) all Loans which would otherwise be made or Continued by such Revolving Credit Lender as LIBOR Loans shall be made or Continued instead as ABR Alternate Base Rate Loans and all ABR Alternate Base Rate Loans of such Revolving Credit Lender which would otherwise be Converted into LIBOR Loans shall remain as ABR Alternate Base Rate Loans. If such Revolving Credit Lender gives notice to Borrower or PR Borrower with a copy to the Administrative Agent that the circumstances specified in Section 5.03 5.3 which gave rise to the Conversion of such Revolving Credit Lender's ’s LIBOR Loans pursuant to this Section 5.04 5.4 no longer exist (which such Revolving Credit Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans are outstanding, such Revolving Credit Lender's ABR ’s Alternate Base Rate Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Revolving Credit Lenders holding LIBOR Loans and by such Revolving Credit Lender are held pro rata (as to principal amounts, Types and Interest Periods) in accordance with their respective Revolving Credit Commitments.

Appears in 1 contract

Samples: Credit Agreement (Tuesday Morning Corp/De)

Treatment of Affected Loans. If the obligation of any Lender to make LIBOR Loans or to Continue, or to Convert ABR Base Rate Loans into, LIBOR Loans shall be suspended pursuant to Section 5.034.1(b) or 4.3, then such Lender's ’s LIBOR Loans shall be automatically Converted into ABR Base Rate Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or or, in the case of a Conversion required by Section 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 Borrower or PR the Borrower with a copy to Administrative Agent as is required by lawthe 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 Section 5.03 which 4.1 or 4.3 that gave rise to such Conversion no longer exist: (ia) to the extent that such Lender's ’s LIBOR Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Lender's ’s LIBOR Loans shall be applied instead to its ABR Base Rate Loans; and (iib) all Loans which that would otherwise be made or Continued by such Lender as LIBOR Loans shall be made or Continued instead as ABR Loans Base Rate Loans, and all ABR Base Rate Loans of such Lender which that would otherwise be Converted into LIBOR Loans shall remain as ABR Base Rate Loans. If such Lender gives notice to the Borrower or PR Borrower (with a copy to Administrative Agent the Agent) that the circumstances specified in Section 5.03 which 4.1 or 4.3 that gave rise to the Conversion of such Lender's ’s LIBOR Loans pursuant to this Section 5.04 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans made by other Lenders are outstanding, then such Lender's ABR ’s Base Rate Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans 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 Agreement (Piedmont Office Realty Trust, Inc.)

Treatment of Affected Loans. If the obligation of any Lender to make LIBOR Loans or to Continue, or to Convert ABR Base Rate Loans into, LIBOR Loans shall be suspended pursuant to Section 5.034.3, then such Lender's ’s LIBOR Loans shall be automatically Converted into ABR Base Rate Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or or, in the case of a Conversion required by Section 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 Borrower or PR the Borrower with a copy to Administrative Agent as is required by lawthe 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 Section 5.03 which 4.1 or 4.3 that gave rise to such Conversion no longer exist: (ia) to the extent that such Lender's ’s LIBOR Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Lender's ’s LIBOR Loans shall be applied instead to its ABR Base Rate Loans; and (iib) all any portion of such Lender’s Loans which that would otherwise be made or Continued by such Lender as LIBOR Loans shall be made or Continued instead as ABR Loans Base Rate Loans, and all ABR Base Rate Loans of such Lender which that would otherwise be Converted into LIBOR Loans shall remain as ABR Base Rate Loans. If such Lender gives notice to the Borrower or PR Borrower (with a copy to Administrative Agent the Agent) that the circumstances specified in Section 5.03 which 4.1 or 4.3 that gave rise to the Conversion of such Lender's ’s LIBOR Loans pursuant to this Section 5.04 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans of other Lenders are outstanding, then such Lender's ABR ’s Base Rate Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans and by such Lender are held pro rata (as to principal amounts, 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 make LIBOR Loans or to Continue, or to Convert ABR Loans into, LIBOR Loans shall be suspended pursuant to Section 5.03, such Lender's LIBOR Loans shall be automatically Converted into ABR Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or on such earlier date as such Lender may specify to Borrower or PR Borrower with a copy to Administrative Collateral Agent as is required by law) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which gave rise to such Conversion no longer exist: (i) to the extent that such Lender's LIBOR Loans have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Lender's LIBOR Loans shall be applied instead to its ABR Loans; and (ii) all Loans which would otherwise be made or Continued by such Lender as LIBOR Loans shall be made or Continued instead as ABR Loans and all ABR Loans of such Lender which would otherwise be Converted into LIBOR Loans shall remain as ABR Loans. If such Lender gives notice to Borrower or PR Borrower with a copy to Administrative Collateral Agent that the circumstances specified in Section 5.03 which gave rise to the Conversion of such Lender's LIBOR Loans pursuant to this Section 5.04 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans are outstanding, such Lender's ABR Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans 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: Credit Agreement (Colony Rih Acquisitions Inc)

Treatment of Affected Loans. If the obligation of any Lender Bank to make LIBOR Loans a Libor Loan or to Continue, or to Convert ABR Loans of any other Type into, LIBOR Libor Loans shall be suspended pursuant to Section 5.034.1 or 4.3 hereof (Loans of such Type being herein called "Affected Loans" and such Type being herein called the "Affected Type"), such LenderBank's LIBOR Affected Loans shall be automatically Converted into ABR Base Rate Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Affected Loans (or or, in the case of a Conversion required by Section 4.3 hereof, on such earlier date as such Lender Bank may specify be required to Borrower or PR effect a Conversion and specifies to the Borrower with a copy to Administrative Agent as is required by laweach other Bank) and, unless and until such Lender Bank gives notice as provided below that the circumstances specified in Section 5.03 which 4.1 or 4.3 hereof that gave rise to such Conversion no longer exist: (ia) to the extent that such LenderBank's LIBOR Affected Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such LenderBank's LIBOR Affected Loans shall be applied instead to its ABR Base Rate Loans; and (iib) all Loans which that would otherwise be made or Continued by such Lender Bank as LIBOR Libor Loans shall be made or Continued instead as ABR Loans Base Rate Loans, and all ABR Loans of such Lender which Bank that would otherwise be Converted into LIBOR Libor Loans shall be Converted instead into (or shall remain as ABR as) Base Rate Loans. If such Lender Bank gives notice to the Borrower or PR Borrower (with a copy to Administrative Agent each other Bank) that the circumstances specified in Section 5.03 which 4.1 or 4.3 hereof that gave rise to the Conversion of such LenderBank's LIBOR Affected Loans pursuant to this Section 5.04 4.4 no longer exist (which such Lender Bank agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Libor Loans made by other Banks are outstanding, such LenderBank's ABR Base Rate Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Libor Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders Banks holding LIBOR Libor Loans and by such Lender Bank are held on a pro rata basis (as to principal amounts, Types Types, and Interest Periods) in accordance with their respective Commitments.

Appears in 1 contract

Samples: Loan Agreement (Uici)

Treatment of Affected Loans. If the obligation of any Lender to make LIBOR Loans or to Continue, or to Convert ABR Base Rate Loans into, into LIBOR Loans shall be suspended pursuant to Section 5.034.1(b), 4.2 or 4.3, then such Lender's ’s LIBOR Loans shall be automatically Converted into ABR Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or on such earlier date as such Lender may specify to Borrower or PR Borrower with a copy to Administrative Agent as is required by law) Base Rate Loans, and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which 4.1 or 4.3 that gave rise to such Conversion no longer exist: (ia) to the extent that such Lender's ’s LIBOR Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Lender's ’s LIBOR Loans shall be applied instead to its ABR Base Rate Loans; and (iib) all Loans which that would otherwise be made or Continued by such Lender as LIBOR Loans shall be made or Continued instead as ABR Loans and all ABR Base Rate Loans of such Lender which that would otherwise be Converted into LIBOR Loans shall remain instead as ABR Base Rate Loans. If such Lender gives notice to the Borrower or PR Borrower (with a copy to Administrative Agent the Agent) that the circumstances specified in Section 5.03 which 4.1 or 4.3 that gave rise to the Conversion of such Lender's ’s LIBOR Loans pursuant to this Section 5.04 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans made by other Lenders are outstanding, then such Lender's ABR ’s Loans that are Base Rate Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loansday, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans and by such Lender are held pro rata (as to principal amounts, Types amounts and Interest PeriodsTypes) in accordance with their respective Commitments.

Appears in 1 contract

Samples: Term Loan Agreement (Wells Real Estate Investment Trust Ii Inc)

Treatment of Affected Loans. If the obligation of any Lender to make a LIBOR Loans Loan or to Continue, or to Convert ABR Loans into, any Type of Loan into LIBOR Loans shall be suspended pursuant to Section 5.034.3 hereof, such Lender's ’s LIBOR Loans shall be automatically Converted into ABR Reference Rate Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or or, in the case of a Conversion required by Section 4.3 hereof, on such earlier date as such Lender may specify to Borrower or PR Borrower with a copy to Administrative Agent as is required by lawAgent) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which 4.3 hereof that gave rise to such Conversion no longer exist: (ia) to the extent that such Lender's ’s LIBOR Loans have been so Converted, all payments and prepayments of principal which that would otherwise be applied to such Lender's ’s LIBOR Loans shall be applied instead to its ABR Reference Rate Loans; and (iib) all Loans which that would otherwise be made or Continued by such Lender as LIBOR Loans shall be made or Continued instead as ABR Loans Reference Rate Loans, and all ABR Loans of such Lender which that would otherwise be Converted into LIBOR Loans shall remain as ABR Reference Rate Loans. If such Lender gives notice to Borrower or PR Borrower (with a copy to Administrative Agent Agent) that the circumstances specified in Section 5.03 which 4.3 that gave rise to the Conversion of such Lender's ’s LIBOR Loans pursuant to this Section 5.04 4.4 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans made by other Lenders are outstanding, such Lender's ABR ’s Reference Rate Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, Loans to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans and by such Lender are held pro rata Pro Rata (as to principal amounts, Types Types, and Interest Periods) in accordance with their respective Commitments.

Appears in 1 contract

Samples: Revolving Credit Agreement (Municipal Mortgage & Equity LLC)

Treatment of Affected Loans. If the obligation of any --------------------------- Lender to make LIBOR Loans or to Continue, or to Convert ABR Alternate Base Rate Loans into, LIBOR Loans shall be suspended pursuant to Section 5.03, such Lender's LIBOR Loans shall be automatically Converted into ABR Alternate Base Rate Loans on the last day(s) of the then current Interest Period(s) for such LIBOR Loans (or on such earlier date as such Lender may specify to Borrower or PR Borrower with a copy to Administrative Agent as is required by law) and, unless and until such Lender gives notice as provided below that the circumstances specified in Section 5.03 which gave rise to such Conversion no longer exist: (i) to the extent that such Lender's LIBOR Loans have been so Converted, all payments and prepayments of principal which would otherwise be applied to such Lender's LIBOR Loans shall be applied instead to its ABR Alternate Base Rate Loans; and (ii) all Loans which would otherwise be made or Continued by such Lender as LIBOR Loans shall be made or Continued instead as ABR Alternate Base Rate Loans and all ABR Alternate Base Rate Loans of such Lender which would otherwise be Converted into LIBOR Loans shall remain as ABR Alternate Base Rate Loans. If such Lender gives notice to Borrower or PR Borrower with a copy to Administrative Agent that the circumstances specified in Section 5.03 which gave rise to the Conversion of such Lender's LIBOR Loans pursuant to this Section 5.04 no longer exist (which such Lender agrees to do promptly upon such circumstances ceasing to exist) at a time when LIBOR Loans are outstanding, such Lender's ABR Alternate Base Rate Loans shall be automatically Converted, on the first day(s) of the next succeeding Interest Period(s) for such outstanding LIBOR Loans, to the extent necessary so that, after giving effect thereto, all Loans held by the Lenders holding LIBOR Loans 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 (Krasovec Frank P)

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