Common use of Automatic Conversions Clause in Contracts

Automatic Conversions. Any outstanding LIBOR Loan shall automatically convert to a Base Rate Loan, effective on the last day of the applicable Interest Period, if as of such date:

Automatic Conversions. Any outstanding LIBOR Loan shall automatically convert to a Base Rate Loan, effective on the last day of the applicable Interest Period, if as of such date: (i) Default; Event of Default. A Default or Event of Default shall exist;