Common use of Base Rate Loans Substituted for Affected Euro-Dollar Loans Clause in Contracts

Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (a) the obligation of any Lender to make or maintain, or to convert outstanding Loans to, Euro-Dollar Loans has been suspended pursuant to Section 2.13 or (b) any Lender has demanded compensation under Section 2.14(a) with respect to its Euro-Dollar Loans and, in any such case, the Borrower shall, by at least four (4) Business Days’ prior notice to such Lender through the Administrative Agent, have elected that the provisions of this Section shall apply to such Lender, then, unless and until such Lender notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply: (i) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro Dollar Loans of the other Lenders); and (ii) after each of its Euro-Dollar Loans has been repaid, all payments of principal 22

Appears in 1 contract

Samples: Credit Agreement (LG&E & KU Energy LLC)

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Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintainmake, or to continue or convert outstanding Loans as or to, Euro-Dollar Loans has been suspended pursuant to Section 2.13 8.02 or (bii) any Lender Bank has demanded compensation under Section 2.14(a8.03(a) with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four (4) five Euro-Dollar Business Days' prior notice to such Lender Bank through the Administrative Agent, have elected that the provisions of this Section shall apply to such LenderBank, then, unless and until such Lender Bank notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply: (ia) all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans shall be made instead be as Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro Euro-Dollar Loans of the other LendersBanks); , and (iib) after each of its Euro-Dollar Loans has been repaid, all payments of principal 22which would otherwise be applied to repay such Euro-Dollar Loans shall be applied to repay its Base Rate Loans instead. ARTICLE 9

Appears in 1 contract

Samples: Revolving Credit Agreement (National Rural Utilities Cooperative Finance Corp /Dc/)

Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintainmake, or to continue or convert outstanding Loans as or to, Euro-Dollar Loans has been suspended pursuant to Section 2.13 8.02 or (bii) any Lender Bank has demanded compensation under Section 2.14(a8.03(a) with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four (4) five Euro-Dollar Business Days' prior notice to such Lender Bank through the Administrative Agent, have elected that the provisions of this Section shall apply to such LenderBank, then, unless and until such Lender Bank notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply: (ia) all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans shall be made instead be as Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro Euro-Dollar Loans of the other LendersBanks); , and (iib) after each of its Euro-Dollar Loans has been repaid, all payments of principal 22which would otherwise be applied to repay such Euro-Dollar Loans shall be applied to repay its Base Rate Loans instead. ARTICLE 9 MISCELLANEOUS Section 9.01.

Appears in 1 contract

Samples: Year Credit Agreement (National Rural Utilities Cooperative Finance Corp /Dc/)

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Base Rate Loans Substituted for Affected Euro-Dollar Loans. If (ai) the obligation of any Lender Bank to make or maintain, or to convert outstanding Loans to, maintain Euro-Dollar Loans has been suspended pursuant to Section 2.13 8.02 or (bii) any Lender Bank has demanded compensation under Section 2.14(a) 8.03 or 8.04 with respect to its Euro-Dollar Loans and, in any such case, and the Borrower shall, by at least four (4) five Euro-Dollar Business Days' prior notice to such Lender Bank through the Administrative Agent, have elected that the provisions of this Section shall apply to such LenderBank, then, unless and until such Lender Bank notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply: (i) exist, all Loans which would otherwise be made by such Lender Bank as (or continued as or converted into) Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Euro Euro-Dollar Loans of the other LendersBanks); and (ii) after . If such Bank notifies the Borrower that the circumstances giving rise to such notice no longer apply, the principal amount of each such Base Rate Loan shall be converted into a Euro-Dollar Loan on the first day of its the next succeeding Interest Period applicable to the related Euro-Dollar Loans has been repaid, all payments of principal 22the other Banks.

Appears in 1 contract

Samples: Bridge Loan Agreement (Venator Group Inc)

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