Common use of Multicurrency Loans Clause in Contracts

Multicurrency Loans. So long as no Default or Event of Default exists, the Borrower may on any Business Day, with respect to any Multicurrency Loan denominated in a Designated Currency, select a new Interest Period for such Multicurrency Loan. Each new Interest Period selected under this Section shall commence on the last day of the immediately preceding Interest Period. Each selection of a new Interest Period shall be made by the Borrower giving to the Administrative Agent a Foreign Currency Credit Notice not later than 2:00 p.m. on the fifth (5th) Business Day prior to the date of any such Continuation. Such notice by the Borrower of a Continuation shall be by telecopy, electronic mail or other similar form of communication in the form of a Notice of Continuation, specifying (a) the proposed date of such Continuation, (b) the Multicurrency Loan and portion thereof subject to such Continuation, and (c) the duration of the selected Interest Period, all of which shall be specified in such manner as is necessary to comply with all limitations on Loans outstanding hereunder. If no Foreign Currency Interest Period is specified in the Foreign Currency Credit Notice, Borrower shall be deemed to have selected a Foreign Currency Interest Period of one month’s duration. Each Notice of Continuation shall be irrevocable by and binding on the Borrower once given. Promptly after receipt of a Notice of Continuation, the Administrative Agent shall notify each Multicurrency Lender of such proposed Continuation. If the Borrower shall fail to select in a timely manner a new Interest Period for any applicable Multicurrency Loan in accordance with this Section, such Loan will automatically, on the last day of the current Interest Period therefor, continue as a Multicurrency Loan with an Interest Period of one month unless such Multicurrency Loan is repaid, with all interest accrued thereon, on the last day of the applicable Interest Period; provided, however, that if a Default or Event of Default exists, such Loan will automatically, on the last day of the current Interest Period therefor, or earlier if required by the Administrative Agent subject to Section 5.4, Convert into a Base Rate Loan, denominated in Dollars, in an amount equal to the Dollar Equivalent Amount of the Multicurrency Loan so Converted, notwithstanding the first sentence of this Section 2.11(b) or the Borrower’s failure to comply with any of the terms of such Section.

Multicurrency Loans. So long as no Default or Event of Default exists, the Borrower may on any Business Day, with respect to any Multicurrency Loan denominated in a Designated CurrencyForeign Currency , select a new Interest Period for such Multicurrency Loan. Each new Interest Period selected under this Section shall commence on the last day of the immediately preceding Interest Period. Each selection of a new Interest Period shall be made by the Borrower giving to the Administrative Agent a Foreign Currency Credit Notice not later than 2:00 p.m. on the fifth (5th) Business Day prior to the date of any such Continuation. Such notice by the Borrower of a Continuation shall be by telecopy, electronic mail or other similar form of communication in the form of a Notice of Continuation, specifying (a) the proposed date of such Continuation, (b) the Multicurrency Loan and portion thereof subject to such Continuation, and (c) the duration of the selected Interest Period, all of which shall be specified in such manner as is necessary to comply with all limitations on Loans outstanding hereunder. If no Foreign Currency Interest Period is specified in the Foreign Currency Credit Notice, Borrower shall be deemed to have selected a Foreign Currency Interest Period of one month’s duration. Each Notice of Continuation shall be irrevocable by and binding on the Borrower once given. Promptly after receipt of a Notice of Continuation, the Administrative Agent shall notify each Multicurrency Lender of such proposed Continuation. If the Borrower shall fail to select in a timely manner a new Interest Period for any applicable Multicurrency Loan in accordance with this Section, such Loan will automatically, on the last day of the current Interest Period therefor, continue as a Multicurrency Loan with an Interest Period of one month unless such Multicurrency Loan is repaid, with all interest accrued thereon, on the last day of the applicable Interest Period; provided, however, that if a Default or Event of Default exists, such Loan will automatically, on the last day of the current Interest Period therefor, or earlier if required by the Administrative Agent subject to Section 5.4, Convert into a Base Rate Loan, denominated in Dollars, in an amount equal to the Dollar Equivalent Amount of the Multicurrency Loan so Converted, notwithstanding the first sentence of this Section 2.11(b) or the Borrower’s failure to comply with any of the terms of such Section.

Multicurrency Loans. So long as no Default or Event of Default exists, the Borrower may on any Business Day, with respect to any Multicurrency Loan denominated in a Designated CurrencyLoan, select a new Interest Period for such Multicurrency Loan. Each new Interest Period selected under this Section shall commence on the last day of the immediately preceding Interest Period. Each selection of a new Interest Period shall be made by the Borrower giving to the Administrative Agent a Foreign an Alternative Currency Credit Notice not later than 2:00 p.m. on the fifth at least (5thI) four (4) Business Day Days prior to the date of any such ContinuationContinuation for Multicurrency Loans denominated in Canadian Dollars, and five (5) RFR Business Days prior to the date of any such Continuation for Multicurrency Loans denominated in Sterling. Such notice by the Borrower of a Continuation shall be by telecopyfacsimile, electronic mail or other similar form of communication in the form of a Notice of Continuation, specifying (a) the proposed date of such Continuation, (b) the Multicurrency Loan Loan, Class and portion thereof subject to such Continuation, and (c) the duration of the selected Interest Period, all of which shall be specified in such manner as is necessary to comply with all limitations on Loans outstanding hereunder. If no Foreign Alternative Currency Interest Period is specified in the Foreign Alternative Currency Credit NoticeNotice with respect to an Alternative Currency to which an Alternative Currency Interest Period applies, then Borrower shall be deemed to have selected a Foreign an Alternative Currency Interest Period of one month’s duration. Each Notice of Continuation shall be irrevocable by and binding on the Borrower once given. Promptly after receipt of a Notice of Continuation, the Administrative Agent shall notify each Revolving Multicurrency Tranche Lender of such proposed Continuation. If the Borrower shall fail to select in a timely manner a new Interest Period for any applicable Multicurrency Loan in accordance with this Section, such Loan will automatically, on the last day of the current Interest Period therefor, continue as a Multicurrency Loan with an Interest Period of one month unless such Multicurrency Loan is repaid, with all interest accrued thereon, on the last day of the applicable Interest Period; provided, however, that if a Default or an Event of Default exists, such Loan will automatically, on the last day of the current Interest Period therefor, or earlier if required by the Administrative Agent subject to Section 5.4, Convert into a Base Rate Loan, denominated in Dollars, in an amount equal to the Dollar Equivalent Amount of the Multicurrency 66 Loan so Converted, notwithstanding the first sentence of this Section 2.11(b2.10(b) or the Borrower’s failure to comply with any of the terms of such Section.

Multicurrency Loans. So long as no Default or Event of Default existsOn the Amendment No. 1 Effective Date, the Borrower may on any Business Day, with respect to any Multicurrency Loan denominated in a Designated Currency, select a new Interest Period for such Multicurrency Loan. Each new Interest Period selected under this Section shall commence on the last day of the immediately preceding Interest Period. Each selection of a new Interest Period shall be made by the Borrower giving to the Administrative Agent a Foreign Currency Credit Notice not later than 2:00 p.m. on the fifth (5th) Business Day prior to the date of any such Continuation. Such notice by the Borrower of a Continuation shall be by telecopy, electronic mail or other similar form of communication in the form of a Notice of Continuation, specifying (a) the proposed date outstanding Loans of such Continuation, the Lenders shall be deemed to be prepaid in full and (b) the Multicurrency Loan and portion thereof subject to such Continuation, and (c) the duration of the selected Interest Period, all of which shall be specified in such manner as is necessary to comply with all limitations on Loans outstanding hereunder. If no Foreign Currency Interest Period is specified in the Foreign Currency Credit Notice, Borrower shall be deemed to have selected simultaneously borrowed new Class A Multicurrency Loans from the Class A Multicurrency Lenders, new Class B Multicurrency Loans from the Class B Multicurrency Lenders and new Class C Multicurrency Loans from the Class C Multicurrency Lenders, in an aggregate amount equal to such prepayment, on a Foreign Currency Interest Period pro rata basis across each of one month’s durationthe Class A Multicurrency Commitments, the Class B Multicurrency Commitments and the Class C Multicurrency Commitments respectively. Each Notice borrowing of Continuation a Class under clause (b) shall be irrevocable by and binding on made from the Borrower once given. Promptly after receipt Lenders of a Notice such Class pro rata according to the amount of Continuationtheir respective Commitments of such Class; provided that, with respect to the borrowing from the Class B Multicurrency Lenders under clause (b), the Administrative Agent shall notify each Multicurrency Lender existing Lenders of such proposed Continuation. If Class and the Borrower Assuming Lenders, shall fail to select make and receive payments among themselves, in a timely manner a new Interest Period for any applicable acceptable to the Administrative Agent, so that, after giving effect, thereto, the Class B Multicurrency Loan Loans are held ratably by the Class B Multicurrency Lenders in accordance with their respective Class B Multicurrency Commitments. The Borrower shall pay to the Lenders the amounts, if any, payable under Section 2.15 as a result of any such prepayment. The Required Lenders hereby waive the applicable notice requirements required under the Credit Agreement in connection with the prepayments and borrowing under this Section, such Loan will automatically, Section 3.03. For the purpose of the borrowings to be made on the last day of Amendment No. 1 Effective Date under this Section 3.03, the current Required Lenders hereby agree that the Borrower may elect Interest Period therefor, continue as Periods (the “Initial Amendment No. 1 Interest Periods”) for such borrowings that have a Multicurrency Loan with an Interest Period of one month unless such Multicurrency Loan is repaid, with all interest accrued thereon, on the last day of the applicable Interest Period; provided, however, that if a Default or Event of Default exists, such Loan will automatically, on the last day of the current Interest Period therefor, or earlier if required by the Administrative Agent subject to Section 5.4, Convert into a Base Rate Loan, denominated in Dollars, in an amount duration equal to the Dollar Equivalent Amount remaining terms of the Multicurrency Loan so Convertedexisting Interest Periods with respect to the Loans outstanding immediately prior to the Amendment No. 1 Effective Date (the “Existing Interest Periods”), notwithstanding such that the first sentence of this Section 2.11(b) or Interest Payment Dates for such Initial Amendment No. 1 Interest Periods shall occur on the Borrower’s failure to comply with any corresponding dates under the Existing Interest Periods. Notwithstanding the provisions of the terms of such Section.foregoing sentence, the Borrower acknowledges and agrees that: