Existing Eurodollar Rate Loans Sample Clauses

Existing Eurodollar Rate Loans. Notwithstanding anything herein, the parties hereto hereby agree that (a) to the extent any Eurodollar Rate Loan is outstanding on the First Amendment Effective Date (such Eurodollar Rate Loans, the “Pre-Amendment Eurodollar Loans”), such Pre-Amendment Eurodollar Loans shall continue to bear interest at the Eurodollar Rate plus the Applicable Margin until the end of the current Interest Period or payment period applicable to such Pre-Amendment Eurodollar Loans, it being understood that such Pre-Amendment Eurodollar Loans shall remain subject to the terms of the Credit Agreement (for the avoidance of doubt, without giving effect to this Amendment) until the end of the applicable Interest Period, (b) in no event shall the Borrower be entitled to request any Loans that are Eurodollar Rate Loans after the First Amendment Effective Date (or submit a notice of conversion or continuation with respect to continuing any such Loans or requesting conversion of a Loan into a Eurodollar Rate Loan) and (c) at the end of the current applicable Interest Period or payment period, as applicable, each Pre-Amendment Eurodollar Rate Loan shall, unless otherwise instructed by the Borrower, be automatically converted to a SOFR Loan (as defined in the Amended Credit Agreement) with an Interest Period (as defined in the Amended Credit Agreement) of one month.
Sample 1
AutoNDA by SimpleDocs
Existing Eurodollar Rate Loans. Notwithstanding anything to the contrary in the Credit Agreement, all outstanding Eurodollar Rate Loans (under and as defined in the Existing Credit Agreement) immediately prior to the Second Amendment Effective Date shall, on the Second Amendment Effective Date, be prepaid and converted into new SOFR Loans with an Interest Period of 3 months in connection with the reallocations set forth in Section 2.3(d) (and the proceeds of which are used to repay any such Eurodollar Rate Loans), and which SOFR Loans shall thereafter be subject to the terms and conditions of the Credit Agreement.
Sample 1
Existing Eurodollar Rate Loans. Notwithstanding any other provision contained in this Agreement, at any time from and after the Amendment No. 6 Effective Date, (i) no Loan shall be made as, converted into or continued as a Eurodollar Rate Loan and (ii) each outstanding Existing Eurodollar Rate Loan shall continue to bear interest in accordance with Section 2.08(a)(i) until the last day of the current Interest Period applicable to each such Existing Eurodollar Rate Loan and on the last day of such Interest Period shall be automatically converted to a Term SOFR Loan; provided, that if the Borrower does not deliver a Committed Loan Notice in accordance with Section 2.02(a) for any Existing Eurodollar Rate Loans, such Existing Eurodollar Rate Loans shall be deemed to be converted into Term SOFR Loans with an Interest Period of one (1) month.
Sample 1
Existing Eurodollar Rate Loans. Notwithstanding anything in the Credit Agreement or any other Loan Document to the contrary, any Eurodollar Rate Loan (as defined in the Existing Credit Agreement) outstanding as of the Amendment Effective Date (as hereinafter defined) shall remain in full force and effect consistent with the terms of the Existing Credit Agreement until the earlier of (x) the expiration of the applicable Interest Period (as defined in the Existing Credit Agreement) and (y) the election by the Borrower to convert such Eurodollar Rate Loan (as defined in the Existing Credit Agreement) pursuant to Section 2.02 of the Credit Agreement. Notwithstanding the foregoing, upon the expiration of the applicable Interest Period (as defined in the Existing Credit Agreement), any Eurodollar Rate Loan (as defined in the Existing Credit Agreement) that the Borrower has not affirmatively elected to convert pursuant to Section 2.02 of the Credit Agreement by such expiration shall automatically convert to a Base Rate Loan.
Sample 1
Existing Eurodollar Rate Loans. To the extent any Loan bearing interest at the Eurodollar Rate (as defined in the Existing Credit Agreement) is outstanding on the First Amendment Effective Date for a specified Interest Period (as defined in the Existing Credit Agreement), such Loan shall continue to bear interest at the Eurodollar Rate until the end of the current Interest Period or payment period applicable to such Loan. The parties hereto have executed this Amendment in multiple counterparts as of the date first above written.
Sample 1
Existing Eurodollar Rate Loans. Notwithstanding anything to the contrary in this Agreement, all “Eurodollar Rate Loans” (under and as defined in the Existing Credit Agreement as in effect immediately prior to giving effect to this Agreement) outstanding immediately prior to the effectiveness of this Agreement shall, on the Closing Date, be rearranged and converted into a new Borrowing consisting of Term SOFR Loans with an Interest Period of one-month’s duration (commencing on the Closing Date), and which Term SOFR Loans shall thereafter be subject to the terms and conditions of this Agreement. In connection with such conversion, the Borrower shall deliver a Committed Loan Notice in accordance with Section 2.02; provided that such Commitment Loan Notice may state that such notice is conditioned upon the effectiveness of this Agreement and such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Each Lender hereby waives any break funding payments owing to such Lender that are required under Section 3.05 of the Existing Credit Agreement in connection with or as a result of this Section 10.24.
Sample 1
Existing Eurodollar Rate Loans. Notwithstanding anything herein or in Annex hereto to the contrary, any Eurodollar Rate Loan outstanding as of the Amendment No. 2 Effective Date (an “Existing Eurodollar Rate Loan”) shall remain a loan which pays interest with reference to the applicable Eurodollar Rate (without giving effect to the changes to the Credit Agreement made by this Amendment) until the end of the current Interest Period applicable thereto and, upon the expiration of such current Interest Period, shall be automatically converted to Adjusted Term SOFR Rate Loans in the amount of such Existing Eurodollar Rate Loan with an Interest Period of one (1) month (the “SOFR Conversion”). Subject to the SOFR Conversion, all other terms and conditions set forth in the Amended Credit Agreement with respect to Adjusted Term SOFR Rate Loans shall apply to such “Eurodollar Rate Loans” (as such term is used in the Credit Agreement), mutatis mutandis.
Sample 1
AutoNDA by SimpleDocs
Existing Eurodollar Rate Loans. Notwithstanding anything to the contrary in this Agreement or in the Credit Agreement (as amended hereby), all “Eurodollar Rate Loans” (under and as defined in the Existing Credit Agreement) outstanding immediately prior to the Restatement Effective Date shall, on the Restatement Effective Date, be rearranged and converted into a new SOFR Loan Borrowing consisting of SOFR Loans with an Interest Period of one-month’s duration (commencing on the Restatement Effective Date), and which SOFR Loans shall thereafter be subject to the terms and conditions of the Credit Agreement. In connection with such conversion, (i) the Borrower shall deliver any such Borrowing Notice as the Administrative Agent may reasonably request and (ii) the Borrower shall be obligated to pay any breakage fees that otherwise would be owed pursuant to Section 3.05 of the Existing Credit Agreement; provided however, that any Existing Lender may waive such breakage fees owed to it at their sole discretion.
Sample 1
Existing Eurodollar Rate Loans. Notwithstanding anything to the contrary, any Eurodollar Rate Loans (as defined in the Credit Agreement) outstanding as of the Amendment Effective Date shall continue to the end of the applicable Interest Period for such Eurodollar Rate Loans and the provisions of the Credit Agreement applicable thereto shall continue and remain in effect until the end of the applicable Interest Period for such Eurodollar Rate Loans, after which such provisions shall have no further force or effect. [Signature Page Follows]
Sample 1

Related to Existing Eurodollar Rate Loans

  • Reserves on Eurodollar Rate Loans The Borrower shall pay to each Lender, as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurodollar Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and payable 10 days from receipt of such notice.

  • Booking of Eurodollar Rate Loans Any Lender may make, carry or transfer Eurodollar Rate Loans at, to, or for the account of any of its branch offices or the office of an Affiliate of such Lender.

  • Eurodollar Rate Loans After Default After the occurrence of and during the continuation of a Potential Event of Default or an Event of Default, (i) Company may not elect to have a Loan be made or maintained as, or converted to, a Eurodollar Rate Loan after the expiration of any Interest Period then in effect for that Loan and (ii) subject to the provisions of subsection 2.6D, any Notice of Borrowing or Notice of Conversion/Continuation given by Company with respect to a requested borrowing or conversion/continuation that has not yet occurred shall be deemed to be rescinded by Company.

  • Eurodollar Rate Loans Any conversion to or from Eurodollar Rate Loans shall be in such amounts and be made pursuant to such elections so that, after giving effect thereto, the aggregate principal amount of all Eurodollar Rate Loans having the same Interest Period shall not be less than $1,000,000 or a whole multiple of $500,000 in excess thereof.

  • Reserves on Eurocurrency Rate Loans The Domestic Borrower shall pay (or cause the Foreign Borrower to pay) to each Lender, (i) as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurocurrency Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive) and (ii) without duplication of any cost in clause (i) of this clause (e), as long as such Lender shall be required to comply with any reserve ratio requirement or analogous requirement of any other central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of the Eurocurrency Rate Loans, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which in each case shall be due and payable on each date on which interest is payable on such Loan, provided the Domestic Borrower shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest or costs from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest or costs shall be due and payable 10 days from receipt of such notice.

  • Eurodollar Rate Advances During such periods as such Advance is a Eurodollar Rate Advance, a rate per annum equal at all times during each Interest Period for such Advance to the sum of (x) the Eurodollar Rate for such Interest Period for such Advance plus (y) the Applicable Margin in effect from time to time, payable in arrears on the last day of such Interest Period and, if such Interest Period has a duration of more than three months, on each day that occurs during such Interest Period every three months from the first day of such Interest Period and on the date such Eurodollar Rate Advance shall be Converted or paid in full.

  • Making or Maintaining Eurodollar Rate Loans (a) In the event that Administrative Agent shall have determined (which determination shall be final and conclusive and binding upon all parties hereto), on any Interest Rate Determination Date with respect to any Eurodollar Rate Loans, that by reason of circumstances affecting the London interbank market adequate and fair means do not exist for ascertaining the interest rate applicable to such Loans on the basis provided for in the definition of Adjusted Eurodollar Rate, Administrative Agent shall on such date give notice (by telefacsimile or by telephone confirmed in writing) to Borrower and each Lender of such determination, whereupon (i) no Loans may be made as, or converted to, Eurodollar Rate Loans until such time as Administrative Agent notifies Borrower and Lenders that the circumstances giving rise to such notice no longer exist, and (ii) any Funding Notice or Conversion/Continuation Notice given by Borrower with respect to the Loans in respect of which such determination was made shall be deemed to be rescinded by Borrower.

  • LIBOR Rate Loans During such periods as Revolving Loans shall be comprised of LIBOR Rate Loans, each such LIBOR Rate Loan shall bear interest at a per annum rate equal to the sum of the LIBOR Rate plus the Applicable Percentage. Interest on Revolving Loans shall be payable in arrears on each Interest Payment Date.

  • Eurocurrency Rate Advances During such periods as such Advance is a Eurocurrency Rate Advance, a rate per annum equal at all times during each Interest Period for such Advance to the sum of (x) the Eurocurrency Rate for such Interest Period for such Advance plus (y) the Applicable Margin in effect from time to time, payable in arrears on the last day of such Interest Period and, if such Interest Period has a duration of more than three months, on each day that occurs during such Interest Period every three months from the first day of such Interest Period and on the date such Eurocurrency Rate Advance shall be Converted or paid in full.

  • Application of Prepayments of Loans to Base Rate Loans and Eurodollar Rate Loans Considering each Class of Loans being prepaid separately, any prepayment thereof shall be applied first to Base Rate Loans to the full extent thereof before application to Eurodollar Rate Loans, in each case in a manner which minimizes the amount of any payments required to be made by Borrower pursuant to Section 2.18(c).

Time is Money Join Law Insider Premium to draft better contracts faster.