Common use of Base Rate Loans Substituted for Affected Fixed Rate Loans Clause in Contracts

Base Rate Loans Substituted for Affected Fixed Rate Loans. If (i) the obligation of any Lender to make, or to continue or convert outstanding Loans as or to, Eurodollar Loans has been suspended pursuant to SECTION 3.02 or (ii) any Lender has demanded compensation under SECTION 3.01 or 3.04 with respect to its Eurodollar Loans, and in any such case the Borrower shall, by at least five Business Days' prior notice to such Lender through the Administrative Agent, have elected that the provisions of this SECTION 3.06 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 exist, all Loans which would otherwise be made by such Lender as (or continued as or converted to) Eurodollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Eurodollar Loans of the other Lenders). If such Lender notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist, the principal amount of each such Base Rate Loan shall be converted into a Eurodollar Loan on the first day of the next succeeding Interest Period applicable to the related Eurodollar Loans of the other Lenders.

Base Rate Loans Substituted for Affected Fixed Rate Loans. If (i) the obligation of any Lender Bank to make, make or to continue or convert outstanding Loans as or to, Eurodollar into Euro-Dollar Loans to any Borrower has been suspended pursuant to SECTION 3.02 Section 8.02 or (ii) any Lender Bank has demanded compensation under SECTION 3.01 Section 8.03(a) or 3.04 8.04 with respect to its Eurodollar Loans, Euro-Dollar Loans and in any such case the Borrower shall, by at least five Euro-Dollar Business Days' prior notice to such Lender Bank through the Administrative Agent, have elected that the provisions of this SECTION 3.06 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 exist, apply: all Loans to such Borrower which would otherwise be made by such Lender Bank as (or continued as or converted to) Eurodollar Loans Euro-Dollar Loans, as the case may be, shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Eurodollar Euro-Dollar Loans of the other LendersBanks), and after each of its Euro-Dollar Loans to such Borrower has been repaid, all payments of principal which would otherwise be applied to repay such Loans shall be applied to repay its Base Rate Loans instead. If such Lender Bank notifies the such Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist, the principal amount of each such Base Rate Loan shall be converted into a Eurodollar Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Eurodollar Euro-Dollar Loans of the other LendersBanks.

Base Rate Loans Substituted for Affected Fixed Rate Loans. If (i) the obligation of any Lender Bank to make, or to continue or convert outstanding Loans as or to, Eurodollar Euro-Dollar Loans has been suspended pursuant to SECTION 3.02 Section 8.2 or (ii) any Lender Bank has demanded compensation under SECTION 3.01 Section 8.3 or 3.04 8.4 with respect to its Eurodollar Loans, CD Loans or Euro-Dollar Loans and in any such case the Borrower shall, by at least five Euro-Dollar Business Days' prior notice to such Lender Bank through the Administrative Agent, have elected that the provisions of this SECTION 3.06 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 exist, : (a) all Loans which would otherwise be made by such Lender Bank as (or continued as or converted tointo) Eurodollar CD Loans or Euro-Dollar Loans, as the case may be, shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Eurodollar Fixed Rate Loans of the other LendersBanks); and (b) after each of its CD Loans or Euro-Dollar Loans, as the case may be, has been repaid (or converted to a Base Rate Loan), all payments of principal which would otherwise be applied to repay such Fixed Rate Loans shall be applied to repay its Base Rate Loans instead. If such Lender Bank notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation notice no longer existapply, the principal amount of each such Base Rate Loan shall be converted into a Eurodollar CD Loan or Euro-Dollar Loan, as the case may be, on the first day of the next succeeding Interest Period applicable to the related Eurodollar CD Loans or Euro-Dollar Loans of the other LendersBanks. SECTION 8.6.

Base Rate Loans Substituted for Affected Fixed Rate Loans. If (i) the obligation of any Lender to make, or to continue or convert outstanding Loans as or to, Eurodollar Loans has been suspended pursuant to SECTION Section 3.02 or (ii) any Lender has demanded compensation under SECTION Section 3.01 or 3.04 with respect to its Eurodollar Loans, and in any such case the Borrower shall, by at least five Business Days' ’ prior notice to such Lender through the Administrative Agent, have elected that the provisions of this SECTION Section 3.06 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 exist, all Loans which would otherwise be made by such Lender as (or continued as or converted to) Eurodollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Eurodollar Loans of the other Lenders). If such Lender notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist, the principal amount of each such Base Rate Loan shall be converted into a Eurodollar Loan on the first day of the next succeeding Interest Period applicable to the related Eurodollar Loans of the other Lenders.

Base Rate Loans Substituted for Affected Fixed Rate Loans. If (i) the obligation of any Lender Bank to make, or to continue or convert outstanding Loans as or to, Eurodollar Euro-Dollar Loans has been suspended pursuant to SECTION 3.02 Section 8.02 or (ii) any Lender Bank has demanded compensation under SECTION 3.01 Section 8.03 or 3.04 8.04 with respect to its Eurodollar Loans, Euro-Dollar Loans and in any such case the Borrower shall, by at least five Euro-Dollar Business Days' prior notice to such Lender Bank through the Administrative Agent, have elected that the provisions of this SECTION 3.06 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 exist (which such Bank agrees to do promptly upon such circumstances ceasing to exist), all Loans which would otherwise be made by such Lender Bank as (or continued as or converted to) Eurodollar Euro-Dollar Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Eurodollar Fixed Rate Loans of the other Lenders)Banks. If such Lender Bank notifies the Borrower that the circumstances giving rise to such suspension or demand for compensation no longer exist, the principal amount of each such Base Rate Loan shall be converted into a Eurodollar Euro-Dollar Loan on the first day of the next succeeding Interest Period applicable to the related Eurodollar Euro-Dollar Loans of the other LendersBanks.