Common use of Substitute Loans Clause in Contracts

Substitute Loans. If (i) the obligation of any Bank to make Eurocurrency Loans or Swingline Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03 and the Company shall, by at least five (5) Eurocurrency Business Days' prior notice to such Bank through the Agent, have elected that the provisions of this Section 8.05 shall apply to such Bank, then, unless and until such Bank notifies the Company and the Agent that the circumstances giving rise to such suspension or demand for compensation no longer apply, all Loans which would otherwise be made by such Bank as (or continued as or converted to) Eurocurrency Loans or Swingline Loans shall be made instead as Floating Rate Loans (on which interest and principal shall be payable contemporaneously with the related Eurocurrency Loans of the other Banks, as applicable). If such Bank notifies the Company that the circumstances giving rise to such suspension or demand for compensation no longer exist, the principal amount of each such Floating Rate Loan made in substitution of a Eurocurrency Loan shall be converted into a Eurocurrency Loan on the first day of the next succeeding Interest Period applicable to the related Eurocurrency Loans of the other Banks, and each such Floating Rate Loan made in substitution of a Swingline Loan shall be converted into a Swingline Loan on a date mutually agreeable to the Swingline Lender and the applicable Borrower.

Substitute Loans. If (i) the obligation of any Bank to make Eurocurrency Loans or Swingline Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03 and the Company shall, by at least five (5) Eurocurrency Business Days' prior notice to such Bank through the Agent, have elected that the provisions of this Section 8.05 shall apply to such Bank, then, unless and until such Bank notifies the Company and the Agent that the circumstances giving rise to such suspension or demand for compensation no longer apply, all Loans which would otherwise be made by such Bank as (or continued as or converted to) Eurocurrency Loans or Swingline Loans shall be made instead as Floating Rate Loans (on which interest and principal shall be payable contemporaneously with the related Eurocurrency Loans of the other Banks, as applicable). If such Bank notifies the Company that the circumstances giving rise to such suspension or demand for compensation no longer exist, the principal amount of each such Floating Rate Loan made in substitution of a Eurocurrency Loan shall be converted into a Eurocurrency Loan on the first day of the next succeeding Interest Period applicable to the related Eurocurrency Loans of the other Banks, and each such Floating Rate Loan made in substitution of a Swingline Loan shall be converted into a Swingline Loan on a date mutually agreeable to the Swingline Lender and the applicable Borrower.

Substitute Loans. If (i) the obligation of any Bank to make Eurocurrency Loans or Swingline Eurodollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03 and the Company shall, by at least five (5) Eurocurrency Eurodollar Business Days' prior notice to such Bank through the Agent, have elected that the provisions of this Section 8.05 8.04 shall apply to such Bank, then, unless and until such Bank notifies the Company and the Agent that the circumstances giving rise to such suspension or demand for compensation no longer apply, all Loans which would otherwise be made by such Bank as (or continued as or converted to) Eurocurrency Loans or Swingline Eurodollar Loans shall be made instead as Floating Rate Loans (on which interest and principal shall be payable contemporaneously with the related Eurocurrency Eurodollar Loans of the other Banks, as applicable). If such Bank notifies the Company that the circumstances giving rise to such suspension or demand for compensation no longer exist, the principal amount of each such Floating Rate Loan made in substitution of a Eurocurrency Eurodollar Loan shall be converted into a Eurocurrency Eurodollar Loan on the first day of the next succeeding Interest Period applicable to the related Eurocurrency Eurodollar Loans of the other Banks, and each such Floating Rate Loan made in substitution of a Swingline Loan shall be converted into a Swingline Loan on a date mutually agreeable to the Swingline Lender and the applicable Borrower.

Substitute Loans. If (i) the obligation of any Bank to make Eurocurrency Loans or Swingline Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03 and the Company shall, by at least five (5) Eurocurrency Business Days' prior notice to such Bank through the Agent, have elected that the provisions of this Section 8.05 shall apply to such Bank, then, unless and until such Bank notifies the Company and the Agent that the circumstances giving rise to such suspension or demand for compensation no longer apply, all Loans which would otherwise be made by such Bank as (or continued as or converted to) Eurocurrency Loans or Swingline Loans shall be made instead as Floating Rate Loans (on which interest and principal shall be payable contemporaneously with the related Eurocurrency Loans of the other Banks, as applicable). If such Bank notifies the Company that the circumstances giving rise to such suspension or demand for compensation no longer exist, the principal amount of each such Floating Rate Loan made in substitution of a Eurocurrency Loan shall be converted into a Eurocurrency Loan on the first day of the next succeeding Interest Period applicable to the related Eurocurrency Loans of the other Banks, and each such Floating Rate Loan made in substitution of a Swingline Loan shall be converted into a Swingline Loan on a date mutually agreeable to the Swingline Lender and the applicable Borrower.

Substitute Loans. If (i) the obligation of any Bank to make Eurocurrency Loans or Swingline Eurodollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03 and the Company shall, by at least five (5) Eurocurrency Eurodollar Business Days' prior notice to such Bank through the Agent, have elected that the provisions of this Section 8.05 8.04 shall apply to such Bank, then, unless and until such Bank notifies the Company and the Agent that the circumstances giving rise to such suspension or demand for compensation no longer apply, all Loans which would otherwise be made by such Bank as (or continued as or converted to) Eurocurrency Loans or Swingline Eurodollar Loans shall be made instead as Floating Rate Loans (on which interest and principal shall be payable contemporaneously with the related Eurocurrency Eurodollar Loans of the other Banks, as applicable). If such Bank notifies the Company that the circumstances giving rise to such suspension or demand for compensation no longer exist, the principal amount of each such Floating Rate Loan made in substitution of a Eurocurrency Eurodollar Loan shall be converted into a Eurocurrency Loan on the first day of the next succeeding Interest Period applicable to the related Eurocurrency Loans of the other Banks, and each such Floating Rate Loan made in substitution of a Swingline Loan shall be converted into a Swingline Loan on a date mutually agreeable to the Swingline Lender and the applicable Borrower.a

Substitute Loans. If (i) the obligation of any Bank to make Eurocurrency Loans or Swingline Eurodollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03 and the Company shall, by at least five (5) Eurocurrency Eurodollar Business Days' prior notice to such Bank through the Agent, have elected that the provisions of this Section 8.05 8.04 shall apply to such Bank, then, unless and until such Bank notifies the Company and the Agent that the circumstances giving rise to such suspension or demand for compensation no longer apply, all Loans which would otherwise be made by such Bank as (or continued as or converted to) Eurocurrency Loans or Swingline Eurodollar Loans shall be made instead as Floating Rate Loans (on which interest and principal shall be payable contemporaneously with the related Eurocurrency Eurodollar Loans of the other Banks, as applicable). If such Bank notifies the Company that the circumstances giving rise to such suspension or demand for compensation no longer exist, the principal amount of each such Floating Rate Loan made in substitution of a Eurocurrency Eurodollar Loan shall be converted into a Eurocurrency SIDLEY XXXXXX XXXXX & XXXX LLP Eurodollar Loan on the first day of the next succeeding Interest Period applicable to the related Eurocurrency Eurodollar Loans of the other Banks, and each such Floating Rate Loan made in substitution of a Swingline Loan shall be converted into a Swingline Loan on a date mutually agreeable to the Swingline Lender and the applicable Borrower.