Example ContractsClausesABR Loans
ABR Loans
ABR Loans contract clause examples

ABR Loans. The Loans constituting each ABR Borrowing (including each Swingline Loan denominated in Dollars) shall bear interest at a rate per annum equal to the Alternate Base Rate plus the Applicable Margin provided that in the case of Swingline Loans such interest rate shall be reduced by the commitment fee rate payable pursuant to Section 2.11(a).

ABR Loans”: Loans the rate of interest applicable to which is based upon the ABR.

“ABR Borrowing” means a Borrowing comprised of ABR Loans.

Section # Illegality. Notwithstanding any other provision herein, if the adoption of or any change in Applicable Law or regulation or in the interpretation or application thereof shall make it unlawful for any Lender to make or maintain Non-ABR Loans as contemplated by this Agreement, # the Commitment of such Lender hereunder to make Non-ABR Loans, continue Non-ABR Loans as such and convert ABR Loans into Non-ABR Loans shall forthwith be canceled and # such Lender’s Loans then outstanding as Non-ABR Loans, if any, shall be converted automatically to ABR Loans on the respective last days of the then current Interest Periods with respect to such Loans or within such earlier period as required by law. If any such conversion or repayment of a Non-ABR Loan occurs on a day which is not the last day of the then current Interest Period with respect thereto, the shall pay to such Lender such amounts, if any, as may be required pursuant to [Section 2.16]. If circumstances subsequently change so that any affected Lender shall determine that it is no longer so affected, such Lender will promptly notify the and the Administrative Agent, and upon receipt of such notice, the obligations of such Lender to make or continue Non-ABR Loans or to convert ABR Loans into Non-ABR Loans shall be reinstated.

The Proposed Borrowing is to consist of [ABR Loans][Eurodollar Loans][Australian Bank Bill Rate Loans][Canadian BA Rate Loans].

“Applicable Margin” means, # for ABR Revolving Loans, 0%, and # for Eurocurrency Revolving Loans, 1.25%.

#By giving a Notice of Conversion, any Specified Borrower may elect from time to time # to convert such Specified Borrower’s Committed Rate Eurocurrency Loans in Dollars to Committed Rate ABR Loans or # to convert such Specified Borrower’s Committed Rate ABR Loans to Committed Rate Eurocurrency Loans in Dollars. Upon receipt of any Notice of Conversion the Applicable Administrative Agent shall promptly notify each relevant Bank thereof. All or any part of Committed Rate Eurocurrency Loans outstanding in Dollars or Committed Rate ABR Loans may be converted as provided herein, provided

#In the event that on any such Re-Allocation Date there is an unpaid principal amount of Committed Rate ABR Loans, the applicable Borrower shall make prepayments thereof and one or more Borrowers shall make borrowings of Committed Rate ABR Loans and/or Committed Rate Eurocurrency Loans, as the applicable Borrower shall determine, so that, after giving effect thereto, the Committed Rate ABR Loans and Committed Rate Eurocurrency Loans outstanding are held as nearly as may be in accordance with the pro rata provisions of [subsection 8.3] based on such new Revolving Commitment Percentage.

the Borrower will be deemed to have converted any such request into a request for a borrowingBorrowing of or conversion to ABR Loans and # any outstanding affected SOFR Loans will be deemed to have been converted into ABR Loans at the end of the applicable Interest Period. During any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of ABR based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of ABR.

months]/​3]] [converted into a Borrowing of [ABR Loans] ​/​4]]5.

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