Common use of Promptly upon Clause in Contracts

Promptly upon. (i) a conversion of Dollar Loans from LIBOR Loans to Base Rate Loans or vice versa in accordance with Section 2.6(g), (ii) the election of the Borrower in accordance with Section 2.6(e) to change the duration of the Interest Period, (iii) the addition of a new Guarantor, (iv) any change in organizational structure pursuant to Section 6.2(i) and/or (v) any assignment of Loans pursuant to Section 10.8, the Borrower and each Guarantor (por aval) shall, upon the request of the Administrative Agent, at the expense of the Borrower, promptly execute and deliver to the Administrative Agent for the account of each of the relevant Lenders, in exchange for the Note evidencing the relevant Loans of such Lender theretofore delivered to such Lender, a new Note or Notes payable to such Lender and/or such Lender’s assignee, as applicable, dated the Restatement Date, in a principal amount equal to the principal amount then outstanding of such Note and otherwise duly completed.

Appears in 2 contracts

Samples: Credit Agreement (Axtel Sab De Cv), Credit Agreement (Axtel Sab De Cv)

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Promptly upon. (i) a conversion of Dollar Loans from LIBOR Loans to Base Rate Loans or vice versa in accordance with Section 2.6(g), (ii) the election of the Borrower in accordance with Section 2.6(e) to change the duration of the Interest Period, (iii) the addition of a new Guarantor, (iv) any change in organizational structure pursuant to Section 6.2(i) and/or (v) any assignment of Loans pursuant to Section 10.8, the Borrower and each Guarantor (por aval) shall, upon the request of the Administrative Agent, at the expense of the Borrower, promptly execute and deliver to the Administrative Agent for the account of each of the relevant Lenders, in exchange for the Note evidencing the relevant Loans of such Lender theretofore delivered to such Lender, a new Note or Notes payable to such Lender and/or such Lender’s assignee, as applicable, dated the Restatement Closing Date, in a principal amount equal to the principal amount then outstanding of such Note and otherwise duly completed.

Appears in 1 contract

Samples: Assignment and Assumption (Axtel Sab De Cv)

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Promptly upon. (i) a conversion of Dollar Loans from LIBOR Loans to Base Rate Loans or vice versa in accordance with Section 2.6(g), (ii) the election of the Borrower in accordance with Section 2.6(e) to change the duration of the Interest Period, (iii) the addition of a new Guarantor, (iv) any change in organizational structure pursuant to Section 6.2(i) and/or (v) any assignment of Loans pursuant to Section 10.8, the Borrower and each Guarantor (por aval) shall, upon the request of the Administrative Agent, at the expense of the Borrower, promptly execute and deliver to the Administrative Agent for the account of each of the relevant Lenders, in exchange for the Note evidencing the relevant Loans of such Lender theretofore delivered to such Lender, a new Note or Notes payable to such Lender and/or such Lender’s assignee, as applicable, dated the Restatement Closing Date, in a principal amount equal to the principal amount then outstanding of such Note and otherwise duly completed.

Appears in 1 contract

Samples: Credit Agreement (Axtel Sab De Cv)

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