Examples of CDOR Rate Loan in a sentence
If, after the date hereof, any Change in Law shall make it unlawful or impossible for compliance by any of the Lenders in good faith with any governmental requests (or any of their respective Lending Offices) to honor its obligations hereunder to make or maintain any Euro Rate Loan or CDOR Rate Loan, as applicable, such Lender shall promptly give notice thereof to the Administrative Agent and the Administrative Agent shall promptly give written notice to the Borrowers and the other Lenders.
The Borrower shall pay interest on each CDOR Rate Loan owing by it during each Interest Period applicable thereto in Canadian Dollars at a rate per annum equal to the CDOR Rate with respect to such Interest Period plus the Applicable Pricing Rate.
If a Default or an Event of Default shall exist upon the expiration of an Interest Period applicable to any CDOR Rate Loan, such CDOR Rate Loan shall be continued as a CDOR Rate Loan with an Interest Period of one month.
If the Borrower fails to deliver a Rollover Notice to the Lender as provided in this Section, the Borrower shall be deemed to have given a Conversion Notice to the Lender electing to convert the entire amount of the maturing CDOR Rate Loan into a Canadian Prime Rate Loan.
Upon the occurrence of an Event of Default in respect of the Borrower, the Lender may convert a CDOR Rate Loan owing by the Borrower to a Canadian Prime Rate Loan.