Continuation and Conversion Options Sample Clauses

Continuation and Conversion Options. Borrowers may elect from time to time to convert all or a portion of the outstanding Term Loan bearing interest at a rate determined by reference to one basis to a Term Loan bearing interest at a rate determined by reference to an alternative basis by giving the Agent irrevocable notice in the form of Exhibit A not later than 11:00 a.m., New York time, (i) at least one (1) Business Day prior to an election to convert LIBO Rate Loans to Base Rate Loans and (ii) at least five (5) LIBO Business Days' prior to an election to convert Base Rate Loans to LIBO Rate Loans; provided that any conversion of LIBO Rate Loans shall only be made on the last day of an Interest Period with respect thereto; provided, further that no Base Rate Loan may be converted to a LIBO Rate Loan so long as an Event of Default or Potential Event of Default has occurred and is continuing. Borrowers may elect from time to time to continue their outstanding LIBO Rate Loans upon the expiration of the Interest Period(s) applicable thereto by giving to the Agent irrevocable notice in the form of Exhibit A not later than 11:00 a.m., New York time, at least five (5) LIBO Business Days' prior to continuation of a LIBO Rate Loan, and the succeeding Interest Period(s) of such continued LIBO Rate Loan will commence on the last day of the Interest Period of the LIBO Rate Loan to be continued, provided that no LIBO Rate Loan may be continued as a LIBO Rate Loan so long as an Event of Default or Potential Event of Default has occurred and is continuing. Each notice electing to convert or continue all or a portion of the Term Loan shall specify: (i) the proposed conversion/continuation date; (ii) the amount of the Term Loan to be converted/continued;

Continuation and Conversion Options. Subject to the ----------------------------------- limitations set forth in Subsection 2.6.1 hereof, the Borrowers may under the Revolving Credit Facility from time to time: (i) elect to continue, on the last day of the Interest Period therefor, any LIBOR Tranche (or any portion thereof) to a subsequent Interest Period, (ii) elect to convert, on the last day of the Interest Period therefor, any LIBOR Tranche in the Prime Tranche; or (iii) elect to convert, on any Business Day, the Prime Tranche (or any portion thereof) into a

Continuation and Conversion Options. 77 SECTION 2.13 FEES.............................................................. 78 SECTION 2.14 PAYMENTS, ETC..................................................... 79 SECTION 2.15 INTEREST RATE NOT ASCERTAINABLE, ETC.............................. 80 SECTION 2.16 ILLEGALITY........................................................ 80 SECTION 2.17 INCREASED COSTS................................................... 81 SECTION 2.18

Continuation and Conversion Options. The Loans shall bear interest initially at the type of rate specified by the Borrowers in the Notice of Borrowing. Thereafter, the Borrowers shall have the option, on any Business Day, to elect to change or continue the type of interest rate borne by each Group of Loans (subject in each case to the provisions of the definition of “Interest Period” and to Section 2.05 and Article III), as follows: (i) if such Loans are Base Rate Loans, the Borrowers may elect to convert such Loans to Eurodollar Loans as of any Business Day; and (ii) if such Loans are Eurodollar Loans, the Borrowers may elect to convert such Loans to Base Rate Loans or elect to continue such Loans as Eurodollar Loans for an additional Interest Period, subject to Section 3.05 in the case of any such conversion or continuation effective on any day other than the last day of the then current Interest Period applicable to such Loans. Each such election shall be made by delivering a notice, substantially in the form of Exhibit A-2 hereto (a “Notice of Extension/Conversion”) to the Administrative Agent not later than 12:00 Noon on the third Business Day before the conversion or continuation selected in such notice is to be effective. A Notice of Extension/Conversion may, if it so specifies, apply to only a portion of the aggregate principal amount of the relevant Group of Loans; provided that (i) such portion is allocated ratably among the Loans comprising such Group and (ii) the portion to which such Notice of Borrowing applies, and the remaining portion to which it does not apply, are each $2,000,000 or any larger multiple of $500,000.

Continuation and Conversion Options. Subject to the limitations ----------------------------------- set forth in Section 2.6.2 hereof, the Borrowers may under the Revolving ------------- Credit Facility or the Term Loan from time to time: (i) elect to continue, on the last day of the Interest Period

Continuation and Conversion Options. Borrower may elect from time to time to convert outstanding Revolving Loans from Revolving Loans bearing interest at a rate determined by reference to one basis to Revolving Loans bearing interest at a rate determined by reference to an alternative basis if Borrower gives Bank (i) at any time irrevocable notice of an election to convert Eurodollar Rate Loans to Prime Rate Loans and (ii) at least three Eurodollar Business Days' prior irrevocable notice of an election to convert Prime Rate Loans to Eurodollar Rate Loans, provided that any conversion of Eurodollar Rate Loans to Prime Rate Loans shall only be made on the last day of an Interest Period with respect thereto, and provided further that no Prime Rate Loan may be converted to a Eurodollar Rate Loan so long as an Event of Default or Potential Event of Default has occurred and is continuing. Borrower may elect from time to time to

Continuation and Conversion Options. The Borrower shall have the option, on any Business Day (subject in each case to the provisions of Article III) to continue such Loans as Eurodollar Loans for an additional Interest Period, subject to Section 3.05 in the case of any such conversion or continuation effective on any day other than the last day of the then current Interest Period applicable to such Loans. Each such election shall be made by delivering a notice, substantially in the form of Exhibit A hereto (a “Notice of Extension/Conversion”) (which may be by telephone if promptly confirmed in writing), to the Administrative Agent not later than 12:00 Noon on the third Business Day before the conversion or continuation selected in such notice is to be effective. A Notice of Extension/Conversion may, if it so specifies, apply to only a portion of the aggregate principal amount of the Loan; provided that the portion of Eurodollar Loans to which such Notice applies is $5,000,000 or any larger multiple of $1,000,000.

Continuation and Conversion Options. 24 SECTION 2.06. COMPUTATION OF INTEREST AND FEES................................ 25 (a) Calculations.................................................... 25 (b) Determination by Agent.......................................... 26

Continuation and Conversion Options. The Borrower may elect from time to time to convert its outstanding Loans from Loans bearing interest at a rate determined by reference to one basis to Loans bearing interest at a rate determined by reference to an alternative basis by giving Standard Notice to the Agent, provided that any conversion of LIBOR Rate Loans shall only be made on the last day of an Interest Period with respect thereto. The Borrower may elect from time to time to continue its outstanding LIBOR Rate Loans upon the expiration of the Interest Period(s) applicable thereto by giving to the Agent Standard Notice and the succeeding Interest Period(s) of such continued Loan or Loans will commence on the last day of the Interest Period of the Loan to be continued. Each Standard Notice electing to convert or continue a Loan shall specify: (i) the proposed conversion/continuation date; (ii) the amount of the Loan to be converted/continued; (iii) the nature of the proposed continuation/conversion; and (iv) in the case of a conversion to, or continuation of a LIBOR Rate Loan, the requested Interest Period. In the event that no notice of continuation or conversion is received by the Agent with respect to outstanding LIBOR Rate Loans, upon expiration of the Interest Period(s) applicable thereto, such Loans shall automatically be continued for Interest Period(s) of the same number of months as such expiring the Interest Period(s). Subject to the limitations set forth in this Section and in the definition of Interest Period, all or any part of outstanding Loans may be converted or continued as provided herein.