Common use of Continuation and Conversion Elections Clause in Contracts

Continuation and Conversion Elections. Micro may from time to time by delivering a Continuation/Conversion Notice to the Administrative Agent on or before 1:00 p.m., Eastern time, on a Business Day, irrevocably elect, in the case of LIBO Rate Loans, on not less than three nor more than five Business Days' notice, and in the case of Reference Rate Loans, on such Business Day, that all, or any portion in an aggregate minimum amount of $25,000,000 and an integral multiple of $1,000,000 of the Loans, be, in the case of Reference Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Reference Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan, at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, each such LIBO Rate Loan shall, on such last day, automatically convert to a Reference Rate Loan); provided, however, that (1) each such conversion or continuation shall be pro rated among the applicable outstanding Pro-Rata Revolving Loans of all Lenders, and (2) no portion of the outstanding principal amount of any Pro-Rata Revolving Loans may be continued as, or be converted into, a LIBO Rate Loan with an Interest Period longer than one month while any Default has occurred and is continuing.

Continuation and Conversion Elections. Micro may from time to time by delivering a Continuation/Conversion Notice By telephonic notice to the Administrative Agent on or before 1:00 p.m., Eastern time, 12:00 noon on a Business Day (followed (within one Business Day) by the delivery of a confirming Continuation/Conversion Notice), the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice in the case of Base Rate Loans, or three Business Days' notice in the case of LIBO Rate Loans, on and in either case not less than three nor more than five Business Days' notice, and in the case of Reference Rate Loans, on such Business Day, that all, or any portion in an aggregate minimum amount of $25,000,000 2,000,000 and an integral multiple of $1,000,000 of the Loans, 500,000 be, in the case of Reference Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Reference Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan, Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, each such LIBO Rate Loan shall, on such last day, automatically convert to a Reference Base Rate Loan); provided, however, provided that (1x) each such conversion or continuation shall be pro rated among the applicable outstanding Pro-Rata Revolving Loans of all LendersLenders that have made such Loans, and (2y) no portion of the outstanding principal amount of any Pro-Rata Revolving Loans may be continued as, or be converted into, a LIBO Rate Loan with an Interest Period longer than one month while Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. Micro may from time to time by By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 1:00 p.m., Eastern time, 12:00 p.m. on a Business Day, the Borrowers may from time to time irrevocably elect, on not less than one Business Day’s notice in the case of Base Rate Loans, or three Business Days’ notice in the case of LIBO Rate Loans, on and in either case not less than three nor more than five Business Days' ’ notice, and in the case of Reference Rate Loans, on such Business Day, that all, or any portion in an aggregate minimum amount of $25,000,000 1,000,000 and an integral multiple of $1,000,000 of the Loans, be, in the case of Reference Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Reference Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan, Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, each such LIBO Rate Loan shall, on such last day, automatically convert to a Reference Base Rate Loan); provided, however, provided that (1x) each such conversion or continuation shall be pro rated among the applicable outstanding Pro-Rata Revolving Loans of all LendersLenders that have made such Loans, and (2y) no portion of the outstanding principal amount of any Pro-Rata Revolving Loans may be continued as, or be converted into, a LIBO Rate Loan with an Interest Period longer than one month while Loans when any Event of Default has occurred and is continuing.

Continuation and Conversion Elections. Micro may from time to time by By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 1:00 p.m., Eastern Charlotte time, on a Business Day, the Borrower may from time to time irrevocably elect, in the case of LIBO Rate Loans, on not less than one Business Days’ notice in the case of conversion to Base Rate Loans, or three nor Business Days’ notice in the case of conversion to LIBO Rate Loans, and in either case not more than five Business Days' ’ notice, and in the case of Reference Rate Loans, on such Business Day, that all, or any portion in an aggregate minimum amount of $25,000,000 2,000,000 and an integral multiple of $1,000,000 of the Loans, be, in the case of Reference Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Reference Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan, Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, each such LIBO Rate Loan shall, on such last day, automatically convert to a Reference Base Rate Loan); provided, however, that (1x) each such conversion or continuation shall be pro rated among the applicable outstanding Pro-Rata Revolving Loans of all LendersLenders that have made such Loans, and (2y) no portion of the outstanding principal amount of any Pro-Rata Revolving Loans may be continued as, or be converted into, a LIBO Rate Loan with an Interest Period longer than one month while Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. Micro may from time to time by By delivering a Continuation/Continuation/ Conversion Notice to the Administrative Agent on or before 1:00 p.m.noon, Eastern Atlanta, Georgia time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice in the case of Base Rate Loans, or three Business Days' notice in the case of LIBO Rate Loans, on and in either case not less than three nor more than five seven Business Days' notice, and in the case of Reference Rate Loans, on such Business Day, that all, or any portion in an aggregate minimum amount of $25,000,000 1,000,000 and an integral multiple of $1,000,000 of the Loans, 100,000 be, in the case of Reference Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Reference Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan, Loan at least three Business Days (but not no more than five seven Business Days) before the last day of the then current Interest Period with respect thereto, each such LIBO Rate Loan shall, on such last day, automatically convert to a Reference Base Rate Loan); provided, however, that (1x) each such conversion or continuation shall be pro rated among the applicable outstanding Pro-Rata Revolving Loans of all LendersLenders that have made such Loans, and (2y) no portion of the outstanding principal amount of any Pro-Rata Revolving Loans may be continued as, or be converted into, a LIBO Rate Loan with an Interest Period longer than one month while Loans when any Event of Default has occurred and is continuing.

Continuation and Conversion Elections. Micro may from time to time by By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 1:00 p.m., Eastern time, 10:00 a.m. on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day’s notice in the case of Base Rate Loans, or three Business Days’ notice in the case of LIBO Rate Loans, on and in either case not less than three nor more than five Business Days' ’ notice, and in the case of Reference Rate Loans, on such Business Day, that all, or any portion in an aggregate minimum amount of $25,000,000 1,000,000 and an integral multiple of $1,000,000 of the Loans, be, in the case of Reference Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Reference Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan, Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, each such LIBO Rate Loan shall, on such last day, automatically convert to a Reference Base Rate Loan); provided, however, that (1x) each such conversion or continuation shall be pro rated among the applicable outstanding Pro-Rata Revolving Loans of all LendersLenders that have made such Loans, and (2y) no portion of the outstanding principal amount of any Pro-Rata Revolving Loans may be continued as, or be converted into, a LIBO Rate Loan with an Interest Period longer than one month while Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. Micro may from time to time by By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 1:00 p.m., Eastern 10:00 a.m. (New York City time), on a Business Day, the Borrower may from time to time irrevocably elect, in the case of LIBO Rate Loans, on not less than three nor more than five Business Days' notice, and in the case of Reference Rate Loans, on such Business Day, notice that all, or any portion in an aggregate minimum amount of $25,000,000 10,000,000 and an integral multiple of $1,000,000 1,000,000, of the Loans, any Revolving Loans be, in the case of Reference Base Rate Loans, converted into LIBO Rate Loans or beor, in the case of LIBO Rate Loans, on the last day of an Interest Period with respect thereto be converted into Reference a Base Rate Loans Loan or continued as a LIBO Rate Loans Loan (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan, Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, each such LIBO Rate Loan shall, on such last day, automatically convert to a Reference Base Rate Loan); provided, however, that 33- 41 (1) i), except as provided in Section 4.1, each such conversion or continuation shall be pro rated among the applicable outstanding Pro-Rata Revolving Loans of all Lenders, and (2ii) at the Administrative Agent's election by notice to the Borrower, no portion of the outstanding principal amount of any Pro-Rata Revolving Loans Loan may be continued as, or be converted into, a LIBO Rate Loan with an Interest Period longer than one month while when any Default has occurred and is continuing.

Continuation and Conversion Elections. Micro may from time to time by By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 1:00 p.m., Eastern time, 12:00 noon on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice in the case of Base Rate Loans, or three Business Days' notice in the case of LIBO Rate Loans, on and in either case not less than three nor more than five ten Business Days' notice, and in the case of Reference Rate Loans, on such Business Day, that all, or any portion in an aggregate minimum amount of $25,000,000 500,000 and an integral multiple of $1,000,000 of the Loans, 100,000 be, in the case of Reference Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Reference Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan, Loan at least three Business Days (but not more than five ten Business Days) before the last day of the then current Interest Period with respect thereto, each such LIBO Rate Loan shall, on such last day, automatically convert to a Reference Base Rate Loan); provided, however, that (1x) each such conversion or continuation shall be pro rated among the applicable outstanding Pro-Rata Revolving Loans of all LendersLenders that have made such Loans, and (2y) no portion of the outstanding principal amount of any Pro-Rata Revolving Loans may be continued as, or be converted into, a LIBO Rate Loan with an Interest Period longer than one month while Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. Micro may from time to time by By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 1:00 p.m., Eastern time, 10:00 a.m. on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day’s notice in the case of Base Rate Loans, or three Business Days’ notice in the case of LIBO Rate Loans, on and in either case not less than three nor more than five Business Days' ’ notice, and in the case of Reference Rate Loans, on such Business Day, that all, or any portion in an aggregate minimum amount of $25,000,000 250,000 and an integral multiple of $1,000,000 of the Loans, 100,000 be, in the case of Reference Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Reference Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan, Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, each such LIBO Rate Loan shall, on such last day, automatically convert to a Reference Base Rate Loan); provided, however, provided that (1x) each such conversion or continuation shall be pro rated among the applicable outstanding Pro-Rata Revolving Loans of all LendersLenders that have made such Loans, and (2y) no portion of the outstanding principal amount of any Pro-Rata Revolving Loans may be continued as, or be converted into, a LIBO Rate Loan with an Interest Period longer than one month while Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. Micro may from time to time by By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 1:00 p.m.10:00 a.m., Eastern Central time, on a Business Day, the Borrower may from time to time irrevocably elect, in the case of LIBO Rate Loans, elect,(i) on not less than three nor more than five Business Days' notice, and in the case of Reference connection with any LIBO Rate LoansLoan or (ii) on not less than three or more than five Business Days' notice, on such Business Dayin connection with any Base Rate Loan, that all, or any portion in an aggregate minimum amount of $25,000,000 500,000 and an integral multiple of $1,000,000 500,000, of the Loans, any Loans be, in the case of Reference Base Rate Loans, converted into LIBO Rate Loans or beor, in the case of LIBO Rate Loans, be converted into Reference a Base Rate Loans Loan or continued as a LIBO Rate Loans Loan (in the absence of delivery of a Continuation/Continuation/ Conversion Notice with respect to any LIBO Rate Loan, Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, each such LIBO Rate Loan shall, on such last day, automatically convert to a Reference Base Rate Loan); providedPROVIDED, howeverHOWEVER, that (1i) each such conversion or continuation shall be pro rated among the applicable outstanding Pro-Rata Revolving Loans of all Lenders, and (2ii) no portion of the outstanding principal amount of any Pro-Rata Revolving Loans may be continued as, or be converted into, a LIBO Rate Loan with an Interest Period longer than one month while Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. Micro may from time to time by By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 1:00 12:00 p.m., Eastern New York time, on a Business Day, the Borrower may from time to time irrevocably elect, in the case of LIBO Rate Loans, on not less than three Business Days' notice nor more than five Business Days' notice, and notice (in the case of Reference Rate any Loans, on such Business Day, ) that all, or any portion in an aggregate a minimum amount of $25,000,000 and an 1,000,000 or any larger integral multiple of $1,000,000 of the Loans500,000, be, in the case of Reference Base Rate Loans, converted into LIBO Rate Loans or beor, in the case of LIBO Rate Loans, converted into Reference Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan, Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, each such LIBO Rate Loan shall, shall on such last day, (i) in the case of any Revolving Loan, automatically convert to a Reference Base Rate Loan and (ii) in the case of any Term Loan, automatically be continued as a LIBO Rate Loan with a new Interest Period of one month); provided, however, provided that (1x) each such conversion or continuation shall be pro rated among the applicable outstanding Pro-Rata Revolving Loans of all the relevant Lenders, and (2y) no portion of the outstanding principal amount of any Pro-Rata Revolving Loans may be continued as, or be converted into, a LIBO Rate Loan with an Interest Period longer than one month while Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. Micro may from time to time by By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 1:00 p.m.10:30 a.m., Eastern New York time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice in the case of Base Rate Loans, or three Business Days' notice in the case of LIBO Rate Loans, on and in either case not less than three nor more than five Business Days' notice, and in the case of Reference Rate Loans, on such Business Day, that all, or any portion in an aggregate minimum amount of $25,000,000 2,500,000 and an integral multiple of $1,000,000 of the Loans, 500,000 be, in the case of Reference Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Reference Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan, Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, each such LIBO Rate Loan shall, on such last day, automatically convert to a Reference Base Rate Loan); provided, however, that (1x) each such conversion or continuation shall be pro rated among the applicable outstanding Pro-Rata Revolving Loans of all Lenders, Lenders that have made such Loans and (2y) no portion of the outstanding principal amount of any Pro-Rata Revolving Loans may be continued as, or be converted into, a LIBO Rate Loan with an Interest Period longer than one month while Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. Micro may from time to time by By delivering a Continuation/Continuation/ Conversion Notice to the Administrative Agent on or before 1:00 p.m., Eastern 11:00 a.m. (New York time, ) on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice in the case of Base Rate Loans, or three Business Days' notice in the case of LIBO Rate Loans, on and in either case not less than three nor more than five Business Days' notice, and in the case of Reference Rate Loans, on such Business Day, that all, or any portion in an aggregate minimum amount of $25,000,000 5,000,000 and an integral multiple of $1,000,000 of the Loans, be, in the case of Reference Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Reference Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan, Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, each such LIBO Rate Loan shall, on such last day, automatically convert to a Reference Base Rate Loan); provided, however, that (1x) each such conversion or continuation shall be pro rated among the applicable outstanding Pro-Rata Revolving Loans of all LendersLenders that have made such Loans, and (2y) no portion of the outstanding principal amount of any Pro-Rata Revolving Loans may be continued as, or be converted into, a LIBO Rate Loan with an Interest Period longer than one month while Loans when any Default has occurred and is continuingcontinuing unless the Agents otherwise agree.

Continuation and Conversion Elections. Micro may from time to time by By delivering a Continuation/Continuation/ Conversion Notice to the Administrative Agent on or before 1:00 p.m., Eastern time, 10:00 a.m. on a Business Day, each Borrower may from time to time irrevocably elect, on not less than one Business Day's notice in the case of Base Rate Loans, or three Business Days' notice in the case of LIBO Rate Loans, on and in either case not less than three nor more than five Business Days' notice, and in the case of Reference Rate Loans, on such Business Day, that all, or any portion in an aggregate minimum amount of $25,000,000 2,000,000 and an integral multiple of $1,000,000 of the Loans, be, in the case of Reference Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Reference Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan, Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, each such LIBO Rate Loan shall, on such last day, automatically convert to a Reference Base Rate Loan); provided, however, that (1x) each such conversion or continuation shall be pro rated among the applicable outstanding Pro-Rata Revolving Loans of all LendersLenders that have made such Loans, and (2y) no portion of the outstanding principal amount of any Pro-Rata Revolving Loans may be continued as, or be converted into, a LIBO Rate Loan with an Interest Period longer than one month while Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. Micro may from time to time by By delivering a Continuation/Continuation/ Conversion Notice to the Administrative Agent on or before 1:00 p.m., Eastern 10:00 a.m. (New York City time, ) on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice in the case of Base Rate Loans, or three Business Days' notice in the case of LIBO Rate Loans, on and in either case not less than three nor more than five Business Days' notice, and in the case of Reference Rate Loans, on such Business Day, that all, or any portion in an aggregate minimum amount of $25,000,000 1,000,000 and an integral multiple of $1,000,000 of the Loans, 500,000 be, in the case of Reference Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Reference Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan, Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, each such LIBO Rate Loan shall, on such last day, automatically convert to a Reference Base Rate Loan); providedprovided that, however, that (1x) each such conversion or continuation shall be pro rated among the applicable outstanding Pro-Rata Revolving Loans of all LendersLenders that have made such Loans, and (2y) no portion of the outstanding principal amount of any Pro-Rata Revolving Loans may be continued as, or be converted into, a LIBO Rate Loan with an Interest Period longer than one month while Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. Micro may from time to time by By delivering a ------------------------------------- Continuation/Conversion Notice to the Administrative Agent on or before 1:00 p.m.10:00 a.m., Eastern Chicago time, on a Business Day, the Borrower may from time to time irrevocably elect, in the case of LIBO Rate Loans, elect,(i) on not less than three nor more than five Business Days' notice, and in the case of Reference connection with any LIBO Rate LoansLoan or (ii) on not less than three or more than five Business Days' notice, on such Business Dayin connection with any Base Rate Loan, that all, or any portion in an aggregate minimum amount of $25,000,000 500,000 and an integral multiple of $1,000,000 500,000, of the Loans, any Loans be, in the case of Reference Base Rate Loans, converted into LIBO Rate Loans or beor, in the case of LIBO Rate Loans, be converted into Reference a Base Rate Loans Loan or continued as a LIBO Rate Loans Loan (in the absence of delivery of a Continuation/Continuation/ Conversion Notice with respect to any LIBO Rate Loan, Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, each such LIBO Rate Loan shall, on such last day, automatically convert to a Reference Base Rate Loan); provided, however, that (1i) each such conversion ----------------- or continuation shall be pro rated among the applicable outstanding Pro-Rata Revolving Loans of all Lenders, and (2ii) no portion of the outstanding principal amount of any Pro-Rata Revolving Loans may be continued as, or be converted into, a LIBO Rate Loan with an Interest Period longer than one month while Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. Micro may from time to time by By delivering a Continuation/Continuation/ Conversion Notice to the Administrative Agent on or before 1:00 p.m.12:00 noon, Eastern New York time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Days' notice in the case of Base Rate Loans, or three Business Days' notice in the case of LIBO Rate Loans, on and in either case not less than three nor more than five Business Days' notice, and in the case of Reference Rate Loans, on such Business Day, that all, or any portion in an aggregate minimum amount of $25,000,000 1,000,000 and an integral multiple of $1,000,000 of the Loans, be, in the case of Reference Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Reference Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan, Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, each such LIBO Rate Loan shall, on such last day, automatically convert to a Reference Base Rate Loan); provided, however, that (1x) each such conversion or continuation shall be pro rated among the applicable outstanding Pro-Rata Revolving Loans of all LendersLenders that have made such Loans, and (2y) no portion of the outstanding principal amount of any Pro-Rata Revolving Loans may be continued as, or be converted into, a LIBO Rate Loan with an Interest Period longer than one month while Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. Micro may from time to time by By delivering a Continuation/Continuation/ Conversion Notice to the Administrative Agent on or before 1:00 p.m., Eastern time, 10:00 a.m. on a Business Day, each Borrower may from time to time irrevocably elect, on not less than one Business Day's notice in the case of Base Rate Loans, or three Business Days' notice in the case of LIBO Rate Loans, on and in either case not less than three nor more than five Business Days' notice, and in the case of Reference Rate Loans, on such Business Day, that all, or any portion in an aggregate minimum amount of $25,000,000 2,000,000 and an integral multiple of $1,000,000 of the Loans, be, in the case of Reference Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Reference Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan, Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, each such LIBO Rate Loan shall, on such last day, automatically convert to a Reference Base Rate Loan); provided, however, that (1x) each such conversion or continuation shall be pro rated among the applicable outstanding Pro-Rata Revolving Loans of all LendersLenders that have made such Loans, and (2y) no portion of the outstanding principal amount of any Pro-Rata Revolving Loans may be continued as, or be converted into, a LIBO Rate Loan with an Interest Period longer than one month while Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. Micro may from time to time by By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 1:00 p.m., Eastern time, 10:00 a.m. on a Business Day, Royalty Sub may from time to time irrevocably elect, on not less than one Business Day's notice in the case of Base Rate Loans, or three Business Days' notice in the case of LIBO Rate Loans, on and in either case not less than three nor more than five Business Days' notice, and in the case of Reference Rate that all Loans, on such Business Day, that all, or any portion of Loans in an aggregate minimum amount of $25,000,000 1,000,000, and an integral multiple of $1,000,000 of the Loans, be, in the case of Reference Base Rate Loans, converted into LIBO Rate Loans or be, in the case of LIBO Rate Loans, converted into Reference Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan, Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, each such LIBO Rate Loan shall, on such last day, automatically convert to a Reference Base Rate Loan); provided, however, provided that (1x) each such conversion or continuation shall be pro rated among the applicable outstanding Pro-Rata Revolving Loans of all LendersLenders that have made such Loans, and (2y) no portion of the outstanding principal amount of any Pro-Rata Revolving Loans may be continued as, or be converted into, a LIBO Rate Loan with an Interest Period longer than one month while Loans when any Default has occurred and is continuing.

Continuation and Conversion Elections. Micro may from time to time by By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 1:00 p.m.10:00 a.m., Eastern Central time, on a Business Day, the Borrower may from time to time irrevocably elect, in the case of LIBO Rate Loans, (i) on not less than three nor more than five Business Days' ’ notice, and in the case of Reference connection with any LIBO Rate Loans, on such Business DayLoan or any Base Rate Loan, that all, or any portion in an aggregate minimum amount of $25,000,000 500,000 and an integral multiple of $1,000,000 500,000, of the Loans, any Loans be, in the case of Reference Base Rate Loans, converted into LIBO Rate Loans or beor, in the case of LIBO Rate Loans, be continued as a LIBO Rate Loan, and (iii) on or before the last day of the then current Interest Period with respect to a LIBO Rate Loan that such Loan be converted into Reference a Base Rate Loans or continued as LIBO Rate Loans Loan (in the absence of delivery of a Continuation/Continuation/ Conversion Notice with respect to any LIBO Rate Loan, Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, each such LIBO Rate Loan shall, on such last day, automatically convert to a Reference Base Rate Loan); provided, however, that (1i) each such conversion or continuation shall be pro rated among the applicable outstanding Pro-Rata Revolving Loans of all Lenders, and (2ii) no portion of the outstanding principal amount of any Pro-Rata Revolving Loans may be continued as, or be converted into, a LIBO Rate Loan with an Interest Period longer than one month while Loans when any Default has occurred and is continuing.