Common use of Converting Bankers’ Acceptances to Loan Clause in Contracts

Converting Bankers’ Acceptances to Loan. Each Lender shall, on the maturity date of a Bankers’ Acceptance which such Lender has accepted, pay to the holder thereof the face amount of such Bankers’ Acceptance. Subject to Section 3.1, and provided that the Borrower has, by giving notice to the Administrative Agent in accordance with Section 6.4, requested the Lenders to convert all or a portion of outstanding maturing Bankers’ Acceptances into a particular type of Loan, each relevant Lender shall, upon the maturity date of such Bankers’ Acceptances and the payment by such Lender to the holders of such Bankers’ Acceptances of the aggregate face amount thereof, make credit available to the Borrower by way of the Loan into which the matured Bankers’ Acceptances or a portion thereof are converted in the aggregate principal amount as provided in the Conversion Notice. Where a particular Non-BA Lender has funded the Borrower by way of a BA Equivalent Loan rather than by way of Bankers’ Acceptances, the provisions of this Section 6.3 as they relate to Bankers’ Acceptances shall apply mutatis mutandis to such BA Equivalent Loan.

Converting Bankers’ Acceptances to Loan. Each Lender shall, on the maturity date of a Bankers’ ' Acceptance which such Lender has accepted, pay to the holder thereof the face amount of such Bankers’ ' Acceptance. Subject to Section 3.1, 3.6 and provided that the applicable Borrower has, by giving notice to the Administrative Agent in accordance with Section 6.4, requested the Lenders to convert all or a portion of outstanding maturing Bankers’ ' Acceptances into a particular type of Loan, each relevant Lender shall, upon the maturity date of such Bankers’ ' Acceptances and the payment by such Lender to the holders of such Bankers’ ' Acceptances of the aggregate face amount thereof, make credit available to the such Borrower by way of the Loan into which the matured Bankers’ ' Acceptances or a portion thereof are converted in the aggregate principal amount as provided in the Conversion Notice. Where a particular Non-BA Lender has funded the Borrower Borrowers by way of a BA Equivalent Rate Loan rather than by way of Bankers’ ' Acceptances, the provisions of this Section 6.3 as they relate to Bankers’ ' Acceptances shall apply mutatis mutandis to such BA Equivalent Rate Loan.

Converting Bankers’ Acceptances to Loan. Each Lender shall, on the maturity date of a Bankers’ Acceptance which such Lender has accepted, pay to the holder thereof the face amount of such Bankers’ Acceptance. Subject to Section 3.1, 3.06 and provided that the applicable Borrower has, by giving notice to the Administrative Agent in accordance with Section 6.46.04, requested the Lenders to convert all or a portion of outstanding maturing Bankers’ Acceptances into a particular type of Loan, each relevant Lender shall, upon the maturity date of such Bankers’ Acceptances and the payment by such Lender to the holders of such Bankers’ Acceptances of the aggregate face amount thereof, make credit available to the such Borrower by way of the Loan into which the matured Bankers’ Acceptances or a portion thereof are converted in the aggregate principal amount as provided in the Conversion Notice. Where a particular Non-BA Lender has funded the Borrower Borrowers by way of a BA Equivalent Rate Loan rather than by way of Bankers’ Acceptances, the provisions of this Section 6.3 6.03 as they relate to Bankers’ Acceptances shall apply mutatis mutandis to such BA Equivalent Rate Loan.