Common use of Conversion by Lenders Clause in Contracts

Conversion by Lenders. Upon written notice to such effect to the applicable Borrower at such time as a Default has occurred and is continuing, the Administrative Agent may, on the maturity date of a Bankers' Acceptance, BA Rate Loan or a LIBO Loan, convert such Bankers' Acceptance or BA Rate Loan into a Prime Rate Loan, convert such LIBO Loan in favour of Kinross Canada into a Base Rate Canada Loan and convert such LIBO Loan in favour of Kinross U.S.A. into a Base Rate New York Loan as though a notice to such effect had been given in accordance with Section 6.04.

Conversion by Lenders. Upon written notice to such effect to the applicable relevant Borrower at such time as a Default has occurred and is continuing, the Administrative Agent may, on the maturity date of a Bankers' Acceptance, BA Rate Loan or a LIBO LIBOR Loan, convert such Bankers' Acceptance or BA Rate Loan into a Prime Rate Loan, convert such LIBO LIBOR Loan in favour of Kinross Canada a Canadian Borrower into a Base Rate Canada Loan and convert such LIBO LIBOR Loan in favour of Kinross U.S.A. a U.S. Borrower into a Base Rate New York Loan as though a notice to such effect had been given in accordance with Section 6.046.4.

Conversion by Lenders. Upon written notice to such effect to the applicable relevant Borrower at such time as a Default has occurred and is continuing, the Administrative Agent may, as applicable, on the maturity date of a Bankers' Acceptance, BA Rate Loan or a LIBO LIBOR Loan, convert such Bankers' Acceptance or BA Rate Loan into a Prime Rate Loan, convert such LIBO LIBOR Loan in favour of Kinross Canada a Canadian RT Borrower into a Base Rate Canada Loan and convert such LIBO LIBOR Loan in favour of Kinross U.S.A. a U.S. RT Borrower into a Base Rate New York Loan Loan, as though a notice to such effect had been given in accordance with Section 6.046.4.