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

Base Rate Loans Substituted for Affected Term SOFR Loans. If (a) [reserved] or (b) any Lender has demanded compensation under Section 2.16(a) with respect to its Term SOFR Loans and, in any such case, the Borrower shall, by at least four 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) Term SOFR Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Term SOFR Loans of the other Lenders); and (ii) after each of its Term SOFR Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender 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 Term SOFR Loan on the first day of the next succeeding Interest Period applicable to the related Term SOFR Loans of the other Lenders. Section 2.19

Base Rate Loans Substituted for Affected Term SOFR Loans. If (ai) [reserved] the obligation of any Lender to make, or to continue or convert outstanding Loans as or to, Term SOFR Loans has been suspended pursuant to Section 8.02 or (bii) any Lender has demanded compensation from the Borrower under Section 2.16(a) 8.03 or 8.04 with respect to its Term SOFR Loans andLoans, and in any such case, case the Borrower shall, by at least four five U.S. Government Securities 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) exist, all Loans which would otherwise be made by such Lender as (or continued as or converted intoto) Term SOFR Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Term SOFR Loans of the other Lenders); and (ii) after each of its Term SOFR Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Borrower that the circumstances giving rise to such notice suspension or demand for compensation no longer applyexist, the principal amount of each such Base Rate Loan shall be converted into a Term SOFR Loan on the first day of the next succeeding Interest Period applicable to the related Term SOFR Loans of the other Lenders. Section 2.19.

Base Rate Loans Substituted for Affected Term SOFR Loans. If (a) [reserved] the obligation of any Lender to make, or to continue or convert outstanding Loans as or to, Term SOFR Loans has been suspended pursuant to Section 8.02 or (b) any Lender has demanded compensation under Section 2.16(a) 8.03 with respect to its Term SOFR Loans and, in any such case, and the Borrower shall, by at least four five Business Days’ prior notice to such Lender through the Administrative Agent, have elected that the provisions of this Section 8.04 shall apply to the Lender demanding such Lendercompensation, then, unless and until such Xxxxxx 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) Term SOFR Loans shall instead be Base Rate Loans on which interest and principal shall be payable contemporaneously with the related Term SOFR 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 apply: (i) all Loans which would otherwise be made by such Lender as (or continued as or converted into) Term SOFR Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Term SOFR Loans of the other Lenders); and (ii) after each of its Term SOFR Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Borrower that the circumstances giving rise to such notice no longer applyexist, the principal amount of each such Base Rate Loan shall shall, subject to Section 8.02, be converted into a Term SOFR Loan on the first day of the next succeeding Interest Period applicable to the related Term SOFR Loans of the other Lenders. Section 2.19.

Base Rate Loans Substituted for Affected Term SOFR Loans. If (a) [reserved] or (b) any Lender has demanded compensation under Section 2.16(a) with respect to its Term SOFR Loans and, in any such case, the Borrower shall, by at least four 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) Term SOFR Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Term SOFR Loans of the other Lenders); and (ii) after each of its Term SOFR Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender 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 Term SOFR Loan on the first day of the next succeeding Interest Period applicable to the related Term SOFR Loans of the other Lenders. Section 2.19

Base Rate Loans Substituted for Affected Term SOFR Loans. If (a) [reserved] the obligation of any Lender to make, or (b) to continue or convert outstanding Loans as or to, Term SOFR Loans has been suspended pursuant to Section 8.02 or any Lender has demanded compensation from the Borrower under Section 2.16(a) 8.03 or 8.04 with respect to its Term SOFR Loans andLoans, and in any such case, case the Borrower shall, by at least four five U.S. Government Securities 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) exist, all Loans which would otherwise be made by such Lender as (or continued as or converted intoto) Term SOFR Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Term SOFR Loans of the other Lenders); and (ii) after each of its Term SOFR Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Borrower that the circumstances giving rise to such notice suspension or demand for compensation no longer applyexist, the principal amount of each such Base Rate Loan shall be converted into a Term SOFR Loan on the first day of the next succeeding Interest Period applicable to the related Term SOFR Loans of the other Lenders. Section 2.19.

Base Rate Loans Substituted for Affected Term SOFR Loans. If (a) [reserved] or (b) any Lender has demanded compensation under Section 2.16(a) with respect to its Term SOFR Loans and, in any such case, the applicable Borrower shall, by at least four 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 such 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) Term SOFR Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Term SOFR Loans of the other Lenders); and (ii) after each of its Term SOFR Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the applicable 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 Term SOFR Loan on the first day of the next succeeding Interest Period applicable to the related Term SOFR Loans of the other Lenders. Section 2.19

Base Rate Loans Substituted for Affected Term SOFR Loans. If (ai) [reserved] the obligation of any Lender to make, or to continue or convert outstanding Loans as or to, Term SOFR Loans to a Borrower has been suspended pursuant to Section 8.02 or (bii) any Lender has demanded compensation from a Borrower under Section 2.16(a) 8.03 or 8.04 with respect to its Term SOFR Loans andto such Borrower, and in any such case, the case such Borrower shall, by at least four five U.S. Government Securities 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 such Borrower that the circumstances giving rise to such suspension or demand for compensation no longer apply: (i) exist, all Loans to such Borrower which would otherwise be made by such Lender as (or continued as or converted intoto) Term SOFR Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Term SOFR Loans of the other Lenders); and (ii) after each of its Term SOFR Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the such Borrower that the circumstances giving rise to such notice suspension or demand for compensation no longer applyexist, the principal amount of each such Base Rate Loan shall be converted into a Term SOFR Loan on the first day of the next succeeding Interest Period applicable to the related Term SOFR Loans of the other Lenders. Section 2.19.

Base Rate Loans Substituted for Affected Term SOFR Loans. If (ai) [reserved] the obligation of any Lender to make, or to continue or convert outstanding Loans as or to, Term SOFR Loans has been suspended pursuant to Section 8.02 or (bii) any Lender has demanded compensation from the Borrower under Section 2.16(a) 8.03 or 8.04 with respect to its Term SOFR Loans andLoans, and in any such case, case the Borrower shall, by at least four five U.S. Government Securities 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 Xxxxxx 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 as (or continued as or converted intoto) Term SOFR Loans shall instead be Base Rate Loans (on which interest and principal shall be payable contemporaneously with the related Term SOFR Loans of the other Lenders); and (ii) after each of its Term SOFR Loans has been repaid, all payments of principal that would otherwise be applied to repay such Loans shall instead be applied to repay its Base Rate Loans. If such Lender notifies the Borrower that the circumstances giving rise to such notice suspension or demand for compensation no longer applyexist, the principal amount of each such Base Rate Loan shall be converted into a Term SOFR Loan on the first day of the next succeeding Interest Period applicable to the related Term SOFR Loans of the other Lenders. Section 2.19.