Common use of ACTIONS AT AND FOLLOWING INITIATION OF LIQUIDATION Clause in Contracts

ACTIONS AT AND FOLLOWING INITIATION OF LIQUIDATION. (a) At the initiation of a Liquidation: (i) The unpaid principal balance of the SwingLine Loan (if any) shall be converted, pursuant to Section 12:12-2(b)(ii), to a Revolving Credit Loan in which all Revolving Credit Lenders participate.

ACTIONS AT AND FOLLOWING INITIATION OF LIQUIDATION. (a) At the initiation of a Liquidation: (i) The unpaid principal balance of the SwingLine Loan (if any) shall be converted, pursuant to Section 12:1213:13-2(b)(ii), to a Revolving Credit Loan in which all Revolving Credit Lenders participate.