Common use of Borrowing Options Clause in Contracts

Borrowing Options. The Term Loan, the Revolving Loans, the Additional Term Loan, the Supplemental Revolving Loans, the D Tranche Term Loan and the E Tranche Term Loan shall, at the option of the Borrower and except as otherwise provided in this Agreement, consist of (i) Prime Rate Loans, (ii) Eurodollar Rate Loans or (iii) part Prime Rate Loans and part Eurodollar Rate Loans, provided that all Loans made pursuant to the same Borrowing shall be of the same Type. As to any Eurodollar Rate Loan, any Lender may, if it so elects, fulfill its commitment to make such Loan by causing a foreign branch or affiliate of such Lender to make or continue such Loan, provided that in such event such Lender's Revolving Loan Pro Rata Share, Term Loan Pro Rata Share, Additional Term Loan Pro Rata Share, Supplemental Revolving Loan Pro Rata Share, D Tranche Term Loan Pro Rata Share or E Tranche Term Loan Pro Rata Share, as the case may be, of the Loan shall, for purposes of this Agreement, be considered to have been made by such Lender and the obligation of the Borrower to repay such Lender's Revolving Loan Pro Rata Share, Term Loan Pro Rata Share, Additional Term Loan Pro Rata Share, Supplemental Revolving Loan Pro Rata Share, D Tranche Term Loan Pro Rata Share or E Tranche Term Loan Pro Rata Share, as the case may be, of the Loan shall nevertheless be to such Lender and shall be deemed held by such Lender for the account of such branch or affiliate.

Appears in 2 contracts

Sources: Credit Agreement (Stone Container Corp), Credit Agreement (Stone Container Corp)

Borrowing Options. The Term Loan, the Revolving Loans, the Additional Term Loan, the Supplemental Revolving Loans, Loans and the D Tranche Term Loan and the E Tranche Term Loan shall, at the option of the Borrower and except as otherwise provided in this Agreement, consist of (i) Prime Rate Loans, (ii) Eurodollar Rate Loans or (iii) part Prime Rate Loans and part Eurodollar Rate Loans, provided that all Loans made pursuant to the same Borrowing shall be of the same Type. As to any Eurodollar Rate Loan, any Lender may, if it so elects, fulfill its commitment to make such Loan by causing a foreign branch or affiliate of such Lender to make or continue such Loan, provided that in such event such Lender's Revolving Loan Pro Rata Share, Term Loan Pro Rata Share, Additional Term Loan Pro Rata Share, Supplemental Revolving Loan Pro Rata Share, D Tranche Term Loan Pro Rata Share or E D Tranche Term Loan Pro Rata Share, as the case may be, of the Loan shall, for purposes of this Agreement, be considered to have been made by such Lender and the obligation of the Borrower to repay such Lender's Revolving Loan Pro Rata Share, Term Loan Pro Rata Share, Additional Term Loan Pro Rata Share, Supplemental Revolving Loan Pro Rata Share, D Tranche Term Loan Pro Rata Share or E D Tranche Term Loan Pro Rata Share, as the case may be, of the Loan shall nevertheless be to such Lender and shall be deemed held by such Lender for the account of such branch or affiliate.

Appears in 1 contract

Sources: Credit Agreement (Stone Container Corp)