Common use of Conversion; Prepayment Clause in Contracts

Conversion; Prepayment. Borrowers may convert LIBOR RateSOFR Loans to Base Rate Loans or prepay SOFR Loans at any time; provided, however, that in the event that LIBOR RateSOFR Loans are converted or prepaid on any date that is not the last day of the Interest Period applicable thereto, including as a result of any automatic prepayment through the required application by Agent of any payments or proceeds of Borrowers’ and their Subsidiaries’ CollectionsCollateral in accordance with Section 2.4(b) or for any other reason, including early termination of the term of this Agreement or acceleration of all or any portion of the Obligations pursuant to the terms hereof, each Borrower shall indemnify, defend, and hold Agent and the Lenders and their Participants harmless against any and all Funding Losses in accordance with Section 2.12 (b)(ii).

Conversion; Prepayment. Borrowers may convert LIBOR RateSOFR Rate Loans and LIBOR Index Rate Loans to Base Rate Loans or prepay SOFR LIBOR Rate Loans and LIBOR Index Rate Loans at any time; provided, however, that in the event that LIBOR RateSOFR Rate Loans are converted or prepaid on any date that is not the last day of the Interest Period applicable thereto, including as a result of any automatic prepayment through the required application by Administrative Agent of any payments or proceeds of Borrowers’ and their Subsidiaries’ CollectionsCollateral Collateral in accordance with Section 2.4(b) or for any other reason, including early termination of the term of this Agreement or acceleration of all or any portion of the Obligations pursuant to the terms hereof, each Borrower shall indemnify, defend, and hold Administrative Agent and the Lenders and their Participants harmless against any and all Funding Losses in accordance with Section 2.12 (b)(ii).