Common use of Various Types of Loans Clause in Contracts

Various Types of Loans. Each Revolving Loan shall be, and the Term Loan may be divided into tranches which are, either a Base Rate Loan or a LIBOR Loan (each a “type” of Loan), as the Company shall specify in the related notice of borrowing or conversion pursuant to Section 2.2.2 or 2.2.3. LIBOR Loans having the same Interest Period which expire on the same day are sometimes called a “Group” or collectively “Groups”. Base Rate Loans and LIBOR Loans may be outstanding at the same time, provided that not more than three (3) different Groups of LIBOR Loans shall be outstanding with respect to the Revolving Commitment at any one time, and not more than three (3) different Groups of LIBOR Loans shall be outstanding with respect to the Term Loan Commitment at any one time. All borrowings, conversions and repayments of Loans shall be effected so that each Lender will have a ratable share (according to its Pro Rata Share) of all types and Groups of Loans.

Various Types of Loans. Each Revolving Loan shall be, and the Term Loan may A shall be divided into tranches which are, are either a Base Rate Loan Loans or a LIBOR Loan Loans (each a “type” of Loan), as the Company shall specify in the related notice of borrowing or conversion pursuant to Section 2.2.2 or 2.2.3. LIBOR Loans comprising the Revolving Loans or the Term Loan A, as applicable, and having the same Interest Period which expire on the same day are sometimes called a “Group” or collectively “Groups”. Base Rate Loans and LIBOR Loans may be outstanding at the same time, provided that with respect to the Revolving Loans, not more than three ten (310) different Groups of LIBOR Loans shall be outstanding with respect to the Revolving Commitment at any one time, and with respect to the Term Loan A, not more than three six (36) different Groups of LIBOR Loans shall be outstanding with respect to the Term Loan Commitment at any one time. All borrowings, conversions and repayments of Revolving Loans or Loans comprising the Term Loan A shall be effected so that each Lender will have a ratable share (according to its Pro Rata Share) of all types and Groups of Loans.