Conversion and Continuation Options. (a) The Company may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election; provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17). The Company may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR Loans may be converted as provided herein; provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date. (b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and provided, further, that if the Company shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 2 contracts
Sources: Credit Agreement (Essex International Inc /), Credit Agreement (BCP/Essex Holdings Inc)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; provided , PROVIDED that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Loans may be converted as provided herein; provided , PROVIDED that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month or 30 days, respectively, prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; provided , PROVIDED that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month or 30 days prior to the Revolving Credit Termination Date (in the case of continuations of Loans) and providedPROVIDED, furtherFURTHER, that if the Company Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 2 contracts
Sources: Credit Agreement (Big City Radio Inc), Credit Agreement (Big City Radio Inc)
Conversion and Continuation Options. (a) The Company may elect from time to time to convert Eurodollar Revolving Credit Loans that are LIBOR Loans denominated in Dollars to ABR Base Rate Loans, by giving the Administrative Agent at least three two Business Days' ’ prior irrevocable notice of such election; provided that any such conversion of Eurodollar LIBOR Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company may elect from time to time to convert ABR Base Rate Loans to Eurodollar Revolving Credit LIBOR Loans denominated in Dollars by giving the Administrative Agent at least three Business Days' ’ prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit LIBOR Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender Bank thereof. All or any part of outstanding Eurodollar Revolving Credit LIBOR Loans or ABR denominated in Dollars and Base Rate Loans may be converted as provided herein; provided that (i) no Loan may be converted into a Eurodollar Revolving Credit LIBOR Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders Majority Banks have determined that to not permit such a conversion is not appropriate, conversion; (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 subsection 2.8 shall not have been contravened contravened; and (iii) no Loan may be converted into a Eurodollar Revolving Credit LIBOR Loan after the date that is one month prior to the Revolving Credit final Termination Date.
(b) Any Eurodollar Revolving Credit Loans that are LIBOR Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company giving at least three Business Days’ prior irrevocable notice to the Administrative Agent, in accordance with the applicable provisions of the term "“Interest Period" ” set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; provided that no Eurodollar Revolving Credit LIBOR Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders Majority Banks have determined that to not permit such a continuation is not appropriate, continuation; (ii) if, after giving effect thereto, Section 2.10 subsection 2.8 would be contravened contravened; or (iii) after the date that is one month prior to the Revolving Credit final Termination Date and provided, further, that if the Company shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest PeriodDate. Upon receipt of any such notice referred to above, the Administrative Agent shall promptly notify the Lenders each Bank thereof.
Appears in 2 contracts
Sources: Credit Agreement (Western Union CO), Credit Agreement (Western Union CO)
Conversion and Continuation Options. (a) The Company Borrowers may elect from time to time to convert Eurodollar Revolving Credit LIBOR Loans to ABR Base Rate Loans, by the Borrowers giving the Administrative Agent at least three two Business Days' prior irrevocable written notice of such election; election pursuant to a Continuation Notice, provided that any such conversion of Eurodollar LIBOR Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrowers may elect from time to time to convert ABR Base Rate Loans to Eurodollar Revolving Credit LIBOR Loans by the Borrowers giving the Administrative Agent at least three Eurodollar Business Days' prior irrevocable written notice of such electionelection pursuant to a Continuation Notice. Any such notice of conversion to Eurodollar Revolving Credit LIBOR Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit LIBOR Loans or ABR and Base Rate Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 2.7 shall not have been contravened and contravened, (iiiii) no Incremental Loan may be converted into a Eurodollar LIBOR Loan after the date that is one month prior to the Incremental Loan Commitment Expiration Date, (iii) no Revolving Credit Loan may be converted into a LIBOR Loan after the date that is one month prior to the Revolving Credit Termination DateLoan Commitment Expiration Date and (iv) the Borrowers shall not have the right to elect to continue at the end of the applicable Interest Period, or to convert to, a LIBOR Loan if a Default shall have occurred and be continuing.
(b) Any Eurodollar Revolving Credit Loans LIBOR Loan may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrowers giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; LIBOR Loan, provided that no Eurodollar Revolving Credit LIBOR Loan may be continued -------- as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 2.7 would be contravened or contravened, (ii) after the date that is one month prior to the Incremental Loan Commitment Expiration Date, (iii) after the date that is one month prior to the Revolving Credit Termination Loan Commitment Expiration Date or (iv) if a Default shall have occurred and be continuing and provided, further, that if the Company Borrowers shall fail to give any -------- ------- required notice as described above in this paragraph Section or if such continuation is not permitted pursuant to the preceding proviso proviso, such Loans shall be automatically converted to ABR Base Rate Loans on the last day of such then then-expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 2 contracts
Sources: Credit Agreement (Entravision Communications Corp), Credit Agreement (Entravision Communications Corp)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving the Administrative Agent at least three one Business Days' Day's prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays is subject to the Administrative Agent for the account terms of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)subsection 4.14. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions clause (ii) of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and provided, further, that if the Company Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso permitted, such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 2 contracts
Sources: Credit Agreement (Belco Oil & Gas Corp), Credit Agreement (Belco Oil & Gas Corp)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Alternate Base Rate Loans by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Alternate Base Rate Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Working Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR and Alternate Base Rate Loans may be converted as provided herein; , provided that (i) no Revolving Credit Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 subsection 4.3 shall not have been contravened and (iii) no Revolving Credit Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Revolving Credit Loans; , provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 subsection 4.3 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and provided, further, that if the Company Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Revolving Credit Loans shall be automatically converted to ABR Alternate Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 2 contracts
Sources: Credit Agreement (Moray Pipeline Co LLC), Credit Agreement (El Paso Energy Partners Lp)
Conversion and Continuation Options. (a) The Company HCLP may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving the Administrative Agent at least three one Business Days' ’ prior irrevocable notice of such election; provided provided, that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company HCLP may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Working Days' ’ prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Rate Loans may be converted as provided herein; provided provided, that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have has determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect theretothereof, Section 2.10 3.6 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Final Maturity Date.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company HCLP giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "“Interest Period" ” set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have has determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 3.6 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Final Maturity Date and provided, further, that if the Company HCLP shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 2 contracts
Sources: Credit Agreement (Hanover Compressor Co /), Credit Agreement (Hanover Compressor Co /)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit LIBOR Loans to ABR Base Rate Loans, by the Borrower giving the Administrative Agent at least three two Business Days' prior irrevocable written notice of such election; election pursuant to a Continuation Notice, provided that any such conversion of Eurodollar LIBOR Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Base Rate Loans to Eurodollar Revolving Credit LIBOR Loans by the Borrower giving the Administrative Agent at least three Eurodollar Business Days' prior irrevocable written notice of such electionelection pursuant to a Continuation Notice. Any such notice of conversion to Eurodollar Revolving Credit LIBOR Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice notice, the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit LIBOR Loans or ABR and Base Rate Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 2.5 shall not have been contravened and contravened, (iiiii) no Loan may be converted into a Eurodollar Revolving Credit LIBOR Loan after the date that is one month prior to the Revolving Credit Termination DateMaturity Date and (iii) the Borrower shall not have the right to elect to continue at the end of the applicable Interest Period, or to convert to, a LIBOR Loan if a Default shall have occurred and be continuing.
(b) Any Eurodollar Revolving Credit Loans LIBOR Loan may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; LIBOR Loan, provided that no Eurodollar Revolving Credit LIBOR Loan may be continued -------- as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 2.5 would be contravened or contravened, (iiiii) after the date that is one month prior to the Revolving Credit Termination Maturity Date or (iii) if a Default shall have occurred and be continuing and provided, further, that if the Company -------- ------- Borrower shall fail to give any required notice as described above in this paragraph Section or if such continuation is not permitted pursuant to the preceding proviso proviso, such Loans shall be automatically converted to ABR Base Rate Loans on the last day of such then then-expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 2 contracts
Sources: Term Loan Agreement (Entravision Communications Corp), Term Loan Agreement (Entravision Communications Corp)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit LIBOR Loans to ABR Alternate Base Rate Loans, by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; , provided that any such conversion of Eurodollar LIBOR Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Alternate Base Rate Loans to Eurodollar Revolving Credit LIBOR Loans by giving the Administrative Agent at least three Business Working Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit LIBOR Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender Bank thereof. All or any part of outstanding Eurodollar Revolving Credit LIBOR Loans or ABR and Alternate Base Rate Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 subsection 2.9 shall not have been contravened and (iiiii) no Revolving Credit Loan may be converted into a Eurodollar Revolving Credit LIBOR Loan after the date that is one month prior to the Revolving Credit Termination Date (or, if applicable, the Term-Out Maturity Date).
(b) Any Eurodollar Revolving Credit LIBOR Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such LIBOR Loans; provided , PROVIDED that no Eurodollar Revolving Credit LIBOR Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 subsection 2.9 would be contravened or (iiiii) after the date that is one month prior to the Revolving Credit Termination Date (or, if applicable, the Term-Out Maturity Date) and providedPROVIDED, furtherFURTHER, that if the Company Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Revolving Credit Loans shall be automatically converted to ABR Alternate Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 2 contracts
Sources: 364 Day Facility Credit Agreement (Franklin Resources Inc), 364 Day Facility Credit Agreement (Franklin Resources Inc)
Conversion and Continuation Options. Subject to Section 2.10, the Borrower shall have the right at any time upon prior irrevocable notice to the Lender (i) not later than 12:00, noon, Philadelphia time, three (3) Business Days prior to conversion or continuation, to convert any Base Rate Loan into a LIBOR Loan or to continue any LIBOR Loan as a LIBOR Loan for any additional Interest Period and (ii) not later than 10:00 am, Philadelphia time, not less than two (2) nor more than five (5) Business Days prior to conversion, to convert any LIBOR Advantage Loan into a LIBOR Loan, subject in each case to the following:
(a) The Company may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election; provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17). The Company may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR Loans no LIBOR Loan may be converted continued as provided herein; provided that (i) such and no Base Rate Loan or LIBOR Advantage Loan may be converted into to a Eurodollar Revolving Credit LIBOR Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default Lender has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, ; and
(iib) if, after giving effect thereto, Section 2.10 would any portion of a Revolver Loan maturing or required to be contravened or (iii) after the date that is repaid in less than one month prior to the Revolving Credit Termination Date and provided, further, may not be converted into or continued as a LIBOR Loan;
(c) any portion of a LIBOR Loan that if the Company shall fail to give any required notice cannot be converted into or continued as described above in this paragraph a LIBOR Loan by reason of subsection 2.4(a) or if such continuation is not permitted pursuant to the preceding proviso such Loans 2.4(b) shall be automatically converted to ABR Loans a Base Rate Loan on the last day of the Interest Period in effect for such then expiring Revolver Loan;
(d) any LIBOR Loan as to which the Borrower has failed to give notice of continuation (or has failed to specify an Interest PeriodPeriod in such notice of continuation) automatically shall be continued as a LIBOR Loan with an Interest Period of one month’s duration; and
(e) LIBOR Advantage Loans shall be converted to LIBOR Loans in the minimum amount of $1,000,000 or in whole multiples of $100,000 in excess thereof. Upon receipt Each request by the Borrower to convert or continue a Revolver Loan shall constitute a representation and warranty that no Default or Event of any notice referred to aboveDefault shall have occurred and be continuing. Accrued interest on a Revolver Loan (or portion thereof) being converted shall be paid by the Borrower at the time of conversion. In connection with each such conversion or continuation requested by the Borrower, the Administrative Agent Borrower shall promptly notify deliver to the Lenders thereofLender a Notice of Borrowing.
Appears in 2 contracts
Sources: Credit Agreement (Eresearchtechnology Inc /De/), Credit Agreement (Eresearchtechnology Inc /De/)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Alternate Base Rate Loans by giving the Administrative Agent at least three two (2) Business Days' prior irrevocable notice of such election; provided PROVIDED that any such conversion of Eurodollar Loans may only be made on as of the last day of an a Eurodollar Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Alternate Base Rate Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three (3) Business Days' prior irrevocable notice of such election. Any such , which notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Eurodollar Interest Period or Eurodollar Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender Bank thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR and Alternate Base Rate Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and or the Administrative Agent has or the Required Lenders Banks have determined pursuant to subsection 2.12 that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date.
(b) Any The Borrower may elect to continue all or any portion of any Eurodollar Revolving Credit Loans may be continued as such Loan upon the expiration of the then current designated Eurodollar Interest Period with in respect thereto of such Eurodollar Loan by giving the Company giving Agent at least three (3) Business Days' prior irrevocable notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loanselection; provided PROVIDED that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and or the Administrative Agent has or the Required Lenders Banks have determined pursuant to subsection 2.12 that such a continuation as a Eurodollar Loan is not appropriate, (ii) if, after giving effect thereto, Section 2.10 would . The Borrower shall specify in the aforesaid notice the amount to be contravened or (iii) after continued as a Eurodollar Loan and the date that is one month prior to the Revolving Credit Termination Date and provided, further, that if the Company shall fail to give any required notice as described above Eurodollar Interest Period with respect thereto in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereofaccordance with subsection 2.2.
Appears in 2 contracts
Sources: Credit Agreement (Outsource International Inc), Credit Agreement (Outsource International Inc)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit LIBOR Loans or CD Rate Loans to ABR Loans, by giving the Administrative Agent at least one Business Day's prior irrevocable notice of such election, provided that any such conversion of LIBOR Loans or CD Rate Loans may only be made on the last day of an Interest Period with respect thereto. The Borrower may elect from time to time to convert ABR Loans or CD Rate Loans to LIBOR Loans, and/or to convert LIBOR Loans or ABR Loans to CD Rate Loans, by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election; , provided that any such conversion of Eurodollar LIBOR Loans or CD Rate Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17). The Company may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such electionthereto. Any such notice of conversion to Eurodollar Revolving Credit LIBOR Loans or CD Rate Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit LIBOR Loans, ABR Loans or ABR and CD Rate Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit LIBOR Loan or a CD Rate Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Majority Lenders have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit LIBOR Loan or a CD Rate Loan after the date that is one month or 30 days, respectively, prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit LIBOR Loans or CD Rate Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit LIBOR Loan or CD Rate Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Majority Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month or 30 days prior to to, respectively, the Revolving Credit Termination Date and provided, further, that if the Company Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 2 contracts
Sources: Credit Agreement (Dominion Resources Inc /Va/), Credit Agreement (Virginia Electric & Power Co)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving the Administrative Agent at least three one Business Days' prior irrevocable notice of such election; , provided that if any such conversion of Eurodollar Loans may only be is made on a day which is not the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account shall be accompanied by payment of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all any amounts payable pursuant to Section 2.17)subsection 2.14. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. Accrued interest on a Eurodollar Loan (or portion thereof) being converted to an ABR Loan shall be paid by the Borrower at the time of conversion. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Datescheduled payment date of the final installment of principal of such Loan or at any time when any principal or interest in respect of such Loan is overdue.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date scheduled payment date of the final installment of principal of the Loans or at any time when any principal or interest in respect of such Loan is overdue and provided, further, that if the Company Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the immediately preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 2 contracts
Sources: Credit Agreement (Sprint Spectrum L P), Credit Agreement (Sprint Spectrum Finance Corp)
Conversion and Continuation Options. (a) The Company Subject to the restrictions on borrowings of Eurodollar Loans set forth in the definition thereof, the Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice in a Notice of Conversion/Continuation of such electionelection no later than 10:00 A.M. on the Business Day preceding the proposed conversion date; provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays thereto. Subject to the Administrative Agent for the account restrictions on conversions of the Lenders accrued interest on such ABR Loans into Eurodollar Loans to set forth in the date of such conversion together with all amounts payable pursuant to Section 2.17). The Company definition thereof, the Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice in a Notice of Conversion/Continuation of such election. Any such election no later than 10:00 A.M. on the third Business Day preceding the proposed conversion date (which notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor); provided that no ABR Loan may be converted into a Eurodollar Loan when any Event of Default has occurred and is continuing. Upon receipt of any such notice notice, the Administrative Agent shall promptly notify each relevant Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR Loans may be converted as provided herein; provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans Loan may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving irrevocable notice in a Notice of Conversion/Continuation to the Administrative Agent, in accordance with the applicable provisions of the term "“Interest Period" ” set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Revolving Loans; provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and provided, further, continuing; provided further that if the Company Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso proviso, such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any such notice referred to above, the Administrative Agent shall promptly notify the Lenders each relevant Lender thereof.
Appears in 2 contracts
Sources: Credit Agreement (Sprinklr, Inc.), Credit Agreement (Sprinklr, Inc.)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Convert Eurodollar Revolving Credit Loans to ABR Base Rate Loans, by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; , provided that any such conversion Conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Convert Base Rate Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion Conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR and Base Rate Loans may be converted Converted as provided herein; , provided that (i) no Loan may be converted Converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has determined or the Required Lenders have determined notified the Agent of their determination that such a conversion Conversion is not appropriate, (ii) any such conversion Conversion may only be made if, after giving effect thereto, Section 2.10 2.9 shall not have been contravened contravened, and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Maturity Date.
(b) Any Eurodollar Revolving Credit Loans may be continued Continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit Loan may be continued Continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has determined or the Required Lenders have determined notified the Agent of their determination that such a continuation Continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 2.9 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Maturity Date and provided, further, that if the Company Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation Continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 2 contracts
Sources: Credit Agreement (Rockefeller Center Properties Inc), Credit Agreement (Rcpi Trust /De/)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; provided , PROVIDED that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each affected Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Loans may be converted as provided herein; provided , PROVIDED that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Termination Date (in the case of conversions of Revolving Credit Termination DateLoans) or the date of the final installment of principal of the respective Term Loans (in the case of any conversions of any Term Loans).
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; provided , PROVIDED that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Termination Date (in case of conversions of Revolving Credit Termination Date Loans) or the date of the final installment of principal of the respective Term Loans (in the case of any conversions of any Term Loans) and providedPROVIDED, furtherFURTHER, that if the Company Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Eurodollar Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 2 contracts
Sources: Credit Agreement (Affiliated Managers Group Inc), Credit Agreement (Affiliated Managers Group Inc)
Conversion and Continuation Options. (a) The Company Subject to the terms and conditions hereof and to the extent available to it, any Specified Borrower may elect from time to time to convert Eurodollar Revolving Credit its Base Rate Loans to ABR Loans, Eurocurrency Loans by giving the Administrative Specified Agent at least three (3) Business Days' prior irrevocable notice of such election; provided PROVIDED that at no time may any such conversion Specified Borrower elect to convert any or all of Eurodollar its Specified Swing Line Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar from Base Rate Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17). The Company may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such electionEurocurrency Loans. Any such notice of conversion to Eurodollar Revolving Credit Eurocurrency Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Specified Agent shall promptly notify each affected Specified Term Loan Lender or Specified Revolving Credit Lender, as the case may be, thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR Base Rate Loans may be converted as provided herein; provided , PROVIDED that (i) no Base Rate Loan may be converted into a Eurodollar Revolving Credit Eurocurrency Loan when any Default or Event of Default has occurred and is continuing and the Administrative Specified Agent has or the Required Lenders have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 subsection 2.11 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Datecontravened.
(b) Any Eurodollar Revolving Credit Eurocurrency Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Specified Borrower giving notice to the Administrative Specified Agent, in accordance with the applicable provisions of the term "Interest PeriodINTEREST PERIOD" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; provided , PROVIDED that no Eurodollar Revolving Credit Eurocurrency Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Specified Agent has or the Required Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 subsection 2.11 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and providedPROVIDED, furtherFURTHER, that if the Company Specified Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso proviso, such Eurocurrency Loans shall be automatically converted to ABR continued as Eurocurrency Loans on the last day of such then expiring Interest Period. Upon receipt Period with a new Interest Period of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereofone (1) month.
Appears in 2 contracts
Sources: Credit Agreement (Allotech International Inc), Credit Agreement (Allotech International Inc)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit LIBOR Loans to ABR Base Rate Loans, by the Borrower giving the Administrative Agent at least three two Business Days' prior irrevocable written notice of such election; election pursuant to a Continuation Notice, provided that any such conversion of Eurodollar LIBOR Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Base Rate Loans (other than Swing Line Loans) to Eurodollar Revolving Credit LIBOR Loans by the Borrower giving the Administrative Agent at least three Eurodollar Business Days' prior irrevocable written notice of such electionelection pursuant to a Continuation Notice. Any such notice of conversion to Eurodollar Revolving Credit LIBOR Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit LIBOR Loans or ABR and Base Rate Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 2.8 shall not have been contravened and contravened, (iiiii) no Revolving Loan may be converted into a Eurodollar Revolving Credit LIBOR Loan after the date that is one month prior to the Revolving Credit Termination DateLoan Commitment Expiration Date and (iii) the Borrower shall not have the right to elect to convert to a LIBOR Loan if a Default shall have occurred and be continuing.
(b) Any Eurodollar Revolving Credit Loans LIBOR Loan may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such LoansLIBOR Loan; provided provided, however, that no Eurodollar Revolving Credit LIBOR Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 2.8 would be contravened or contravened, (iiiii) after the date that is one month prior to the Revolving Credit Termination Loan Commitment Expiration Date or (iii) if a Default shall have occurred and be continuing; and further provided, furtherhowever, that that, if the Company Borrower shall fail to give any required notice as described above in this paragraph Section or if such continuation is not permitted pursuant to the preceding proviso proviso, such Loans LIBOR Loan shall be automatically converted to ABR Loans a Base Rate Loan on the last day of such then then-expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 2 contracts
Sources: Revolving Credit and Term Loan Agreement (Quiksilver Inc), Revolving Credit and Term Loan Agreement (Quiksilver Inc)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving the Administrative Agent at least three one Business Days' Day's prior irrevocable notice of such election; provided , PROVIDED that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each affected Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Loans may be converted as provided herein; provided , PROVIDED that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Datedate of the final payment of such class of Loans.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; provided , PROVIDED that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date date of the final payment of principal of such class of Loans and providedPROVIDED, further, FURTHER that if the Company Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 2 contracts
Sources: Credit Agreement (Personal Care Holdings Inc), Credit Agreement (Playtex Products Inc)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans and Eurodollar Term Loans to ABR Loans, Loans by giving the Administrative Agent at least three one Business Days' Day’s prior irrevocable notice of such election; provided that any such conversion of Eurodollar Revolving Credit Loans or Eurodollar Term Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans or Eurodollar Term Loans, as applicable, by giving the Administrative Agent at least three Business Days' ’ prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans or Eurodollar Term Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans, Eurodollar Term Loans or and ABR Loans may be converted as provided herein; provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan or Eurodollar Term Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriatecontinuing, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Five-Year Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit 2024 Extended Termination Date, (iii) no Term Loan or New Term Loan may be converted into a Eurodollar Term Loan after the date that is one month prior to the 2020 Extended Termination Date and (iv) no New Term III Loan may be converted into a Eurodollar Term Loan after the date that is one month prior to the New Term III Termination Date.
(b) Any Eurodollar Revolving Credit Loans and Eurodollar Term Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "“Interest Period" ” set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; provided that no Eurodollar Revolving Credit Loan or Eurodollar Term Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to (A) the Revolving Credit 2018 Extended Termination Date Date, in the case of Term Loans, (B) the 2020 Extended Termination Date, in the case of New Term Loans, (C) the New Term III Termination Date, in the case of New Term III Loans or (D) the 2024 Extended Termination Date, in the case of Five-Year Loans; and provided, further, that if the Company Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Eurodollar Revolving Credit Loans or Eurodollar Term Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Sources: Competitive Advance and Revolving Credit Agreement (Tegna Inc)
Conversion and Continuation Options. (a) The Company Any Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by such Borrower giving the Administrative Agent at least three two Business Days' ’ prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Any Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by such Borrower giving the Administrative Agent at least three Business Days' ’ prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Majority Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Termination Date (in the case of conversions of Revolving Credit Termination DateLoans) and (iii) no Swing Line Loan may be converted into a Eurodollar Loan.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company applicable Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "“Interest Period" ” set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Majority Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Termination Date (in the case of continuations of Revolving Credit Termination Date Loans) and provided, further, that if the Company applicable Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans or C/D Rate Loans to ABR Loans, and/or to convert Eurodollar Loans or ABR Loans to C/D Rate Loans, by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Loans or C/D Rate Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans or C/D Rate Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election, provided that any such conversion of C/D Rate Loans may, subject to the third succeeding sentence, only be made on the last day of an Interest Period with respect thereto. Any such notice of conversion to Eurodollar Revolving Credit Loans or C/D Rate Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each affected Lender thereof. If the last day of the then current Interest Period with respect to C/D Rate Loans that are to be converted to Eurodollar Loans is not a Business Day, such conversion shall be made on the next succeeding Business Day, and during the period from such last day to such succeeding Business Day such Loans shall bear interest as if they were ABR Loans. All or any part of outstanding Eurodollar Revolving Credit Loans, ABR Loans or ABR and C/D Rate Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan or a C/D Rate Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined in its or their sole discretion that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall Sections 2.1(e) and 2.2(e) would not have been be contravened and (iii) no Revolving Credit Loan may be converted into a Eurodollar Revolving Credit Loan or a C/D Rate Loan after the date that is one month or 30 days, respectively, prior to the Facility A Termination Date (in the case of Facility A Revolving Credit Loans) or the Facility B Termination DateDate (in the case of Facility B Revolving Credit Loans).
(b) Any Eurodollar Revolving Credit Loans or C/D Rate Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving irrevocable notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit Loan or C/D Rate Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined in its or their sole discretion that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 Sections 2.1(e) and 2.2(e) would be contravened or (iii) after the date that is one month or 30 days, respectively, prior to the Facility A Termination Date (in the case of Facility A Revolving Credit Loans) or the Facility B Termination Date (in the case of Facility B Revolving Credit Loans), and provided, further, that if the Company Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Sources: Credit Agreement (Kimco Realty Corp)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election; provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17). The Company may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Base Rate Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election, PROVIDED that any such conversion of Eurodollar Loans may be made only on the last day of an Interest Period with respect thereto. Any such The Borrower may elect from time to time to convert Base Rate Loans to Eurodollar Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of conversion to Eurodollar Revolving Credit Loans such election (which notice shall specify the length of the initial Interest Period therefor), PROVIDED that no Base Rate Loan under the Term Loan Facility may be converted into a Eurodollar Loan (i) when any Event of Default has occurred and is continuing and the Administrative Agent has, or Interest Periods thereforthe Required Lenders in respect of the Term Loan Facility have, determined in its or their sole discretion not to permit such conversions or (ii) after the date that is one month prior to the final scheduled termination or maturity date of the Term Loan Facility. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR Loans may be converted as provided herein; provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date.
(b) Any The Borrower may elect to continue any Eurodollar Revolving Credit Loans may be continued Loan as such upon the expiration of the then current Interest Period with respect thereto by the Company giving irrevocable notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Term Loans; provided , PROVIDED that no Eurodollar Revolving Credit Loan under the Term Loan Facility may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has, or the Required Lenders have in respect of the Term Loan Facility have, determined that in its or their sole discretion not to permit such a continuation is not appropriate, continuations or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date final scheduled termination or maturity date of the Term Loan Facility, and providedPROVIDED, furtherFURTHER, that if the Company Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso proviso, such Term Loans shall be converted automatically converted to ABR Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt of any such notice referred to above, the Administrative Agent shall promptly notify the Lenders each relevant Lender thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans or C/D Rate Loans to ABR Loans, and/or to convert Eurodollar Loans or ABR Loans to C/D Rate Loans, by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Loans or C/D Rate Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans or C/D Rate Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election, provided that any such conversion of C/D Rate Loans may, subject to the third succeeding sentence, only be made on the last day of an Interest Period with respect thereto. Any such notice of conversion to Eurodollar Revolving Credit Loans or C/D Rate Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each affected Lender thereof. If the last day of the then current Interest Period with respect to C/D Rate Loans that are to be converted to Eurodollar Loans is not a Business Day, such conversion shall be made on the next succeeding Business Day, and during the period from such last day to such succeeding Business Day such Loans shall bear interest as if they were ABR Loans. All or any part of outstanding Eurodollar Revolving Credit Loans, ABR Loans or ABR and C/D Rate Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan or a C/D Rate Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined in its or their sole discretion that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall 2.2(e) would not have been be contravened and (iii) no Revolving Credit Loan may be converted into a Eurodollar Revolving Credit Loan or a C/D Rate Loan after the date that is one month or 30 days, respectively, prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans or C/D Rate Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving irrevocable notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit Loan or C/D Rate Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined in its or their sole discretion that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 2.2(e) would be contravened or (iii) after the date that is one month or 30 days, respectively, prior to the Revolving Credit Termination Date Date, and provided, further, that if the Company Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Sources: Credit Agreement (Kimco Realty Corp)
Conversion and Continuation Options. (a) The By giving a Notice of Conversion, the Company may elect from time to time (i) to convert Eurodollar Revolving Credit the Company's Eurocurrency Loans in Dollars to ABR Loans or (ii) to convert the Company's ABR Loans to ABR LoansEurocurrency Loans in Dollars; provided, by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election; provided that any such conversion of Eurodollar Eurocurrency Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17). The Company may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods thereforthereto. Upon receipt of any such notice Notice of Conversion the Administrative Agent shall promptly notify each Lender thereof. All or any part of Eurocurrency Loans outstanding Eurodollar Revolving Credit Loans in Dollars or ABR Loans may be converted as provided herein; , provided that (i) no ABR Loan may be converted into a Eurodollar Revolving Credit Eurocurrency Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Majority Lenders have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no ABR Loan may be converted into a Eurodollar Revolving Credit Eurocurrency Loan after the date that is one month prior to the Revolving Credit Termination Date.. 20
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration By giving a Notice of the then current Interest Period with respect thereto by Continuation, the Company giving notice may continue any of its Eurocurrency Loans as Eurocurrency Loans in the same Currency for additional Interest Periods.
(c) The Company may convert Committed Rate Loans outstanding in one Currency to Committed Rate Loans of a different Currency by repaying such Loans in the Administrative Agent, first Currency and borrowing Loans of such different Currency in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; provided that no Eurodollar Revolving Credit Loan may be continued as such this Agreement.
(id) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and provided, further, that if If the Company shall fail to timely give a Notice of Continuation or a Notice of Conversion in respect of any required notice as described above in this paragraph or if of the Company's Eurocurrency Loans with respect to which an Interest Period is expiring, such continuation is not permitted pursuant to the preceding proviso such Eurocurrency Loans shall be automatically converted to ABR Loans become due and payable on the last day of such then expiring Interest Period. Upon receipt ; provided, that the Company may, in accordance with and subject to the terms and conditions of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereofthis Agreement refinance such maturing Eurocurrency Loans on such maturity date with Competitive Advance Loans.
Appears in 1 contract
Sources: Credit Agreement (Harman International Industries Inc /De/)
Conversion and Continuation Options. (a) The Company Borrower may elect ----------------------------------- from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Loans may only be -------- made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such election (which notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period therefor), provided that no ABR Loan under a particular Facility may be -------- converted into a Eurodollar Loan (i) when any Event of Default has occurred and is continuing and the Administrative Agent or Interest Periods thereforthe Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such conversions (and have notified the Borrower in writing of such determination) or (ii) after the date that is one month prior to the final scheduled termination or maturity date of such Facility. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR Loans may be converted as provided herein; provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans Loan may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving irrevocable notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided -------- that no Eurodollar Revolving Credit Loan under a particular Facility may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Majority Facility Lenders in respect of such Facility have determined that in its or their sole discretion not to permit such a continuation is not appropriate, continuations (and have notified the Borrower in writing of such determination) or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date final scheduled termination or maturity date of such Facility, and provided, further, that if the Company Borrower shall fail to give -------- ------- any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any such notice referred to above, the Administrative Agent shall promptly notify the Lenders each relevant Lender thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Loans may be converted as provided herein; provided that (i) no Revolving Credit Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Revolving Credit Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Revolving Credit Loans; provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date Date; and provided, further, that if the Company Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Revolving Credit Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Sources: Credit Agreement (Brown Tom Inc /De)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time on any Business Day to convert Eurodollar Revolving Credit Loans of one Type to ABR Loans, Revolving Loans of another Type by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such electionelection in the case of any conversion to a Eurodollar Revolving Loan, and prior irrevocable notice not later than 11:00 A.M. (New York City time) on the date of conversion in the case of any conversion to Base Rate Loans (such - 45 - notice to be promptly confirmed in writing if given telephonically); provided PROVIDED, HOWEVER, that any such conversion of Eurodollar Revolving Loans may may, subject to the third succeeding sentence, only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17). The Company may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such electionthereto. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor, which may not, until after the earlier of (i) the 30th day after the Closing Date and (ii) the Syndication Date, exceed one month. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR and Base Rate Loans may be converted as provided herein; provided PROVIDED, HOWEVER, that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriatecontinuing, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 SECTION 2.13 shall not have been contravened contravened, (iii) any such conversion may only be made if, after giving effect thereto, no more than five (5) Borrowings of Eurodollar Revolving Loans would be outstanding and (iiiiv) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit scheduled Termination Date.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest PeriodINTEREST PERIOD" set forth in Section SECTION 1.1, of the length of the next Interest Period to be applicable to such Loans; provided PROVIDED, HOWEVER, that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and providedand; PROVIDED, furtherFURTHER, that if the Company Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Eurodollar Revolving Loans shall be automatically converted to ABR Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Borrowers may elect from time to time to convert Convert Eurodollar Revolving Credit Loans to ABR Loans, Base Rate Loans by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; provided , provided, that any such conversion Conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrowers may elect from time to time to convert ABR Convert Base Rate Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion Conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR and Base Rate Loans may be converted Converted as provided herein; , provided that (i) no Loan may be converted Converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a conversion Conversion is not appropriate, (ii) any such conversion Conversion may only be made if, after giving effect thereto, Section 2.10 5.3 shall not have been contravened contravened, and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination DateDate (in the case of Conversions of Revolving Credit Loans) or the date of the final installment of principal (in the case of Conversions of Term Loans).
(b) Any Eurodollar Revolving Credit Loans may be continued Continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrowers giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; provided , provided, that no Eurodollar Revolving Credit Loan may be continued Continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a continuation Continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 5.3 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date (in the case of Continuations of Revolving Credit Loans) or the date of the final installment of principal (in the case of Continuations of Term Loans) and provided, further, that if the Company Borrowers shall fail to give any required such notice as described above in this paragraph or if such continuation Continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Sources: Credit Agreement (Celadon Group Inc)
Conversion and Continuation Options. (a) The Company may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Base Rate Loans by giving the Administrative Agent at least three Business two Banking Days' prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company may elect from time to time to convert ABR Base Rate Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Banking Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice notice, the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR and Base Rate Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to (a) the Revolving Credit Termination DateDate (in the case of conversions of Revolving Loans), (b) the date of the final installment of principal of the relevant Term Loans (in the case of conversions of Term Loans) or (c) the date of the final installment of principal of the Acquisition Loans (in the case of conversions of Acquisition Loans).
(b) Any Eurodollar Loans or Revolving Credit Offshore Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to (a) the Revolving Credit Termination Date (in the case of continuations of Revolving Loans), (b) the date of the final installment of principal of the relevant Term Loans (in the case of continuations of Term Loans) or (c) the date of the final installment of principal of the Acquisition Loans (in the case of Acquisition Loans), and provided, further, that if the Company shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Eurodollar Loans shall be automatically converted to ABR Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt Period and, if the Company shall fail to give such notice of any notice referred to abovecontinuation of a Revolving Offshore Loan, the Administrative Agent such Revolving Offshore Loan shall promptly notify the Lenders thereofbe automatically continued for an Interest Period of one month.
Appears in 1 contract
Sources: Credit and Guarantee Agreement (Kci New Technologies Inc)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans and Eurodollar Term Loans to ABR Loans, Loans by giving the Administrative Agent at least three one Business Days' Day’s prior irrevocable notice of such election; provided that any such conversion of Eurodollar Revolving Credit Loans or Eurodollar Term Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans or Eurodollar Term Loans, as applicable, by giving the Administrative Agent at least three Business Days' ’ prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans or Eurodollar Term Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans, Eurodollar Term Loans or and ABR Loans may be converted as provided herein; provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan or Eurodollar Term Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriatecontinuing, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Five-Year Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit 2020 Extended Termination Date, (iii) no Term Loan or New Term Loan may be converted into a Eurodollar Term Loan after the date that is one month prior to the 2020 Extended Termination Date and (iv) no New Term III Loan may be converted into a Eurodollar Term Loan after the date that is one month prior to the New Term III Termination Date.
(b) Any Eurodollar Revolving Credit Loans and Eurodollar Term Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "“Interest Period" ” set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; provided that no Eurodollar Revolving Credit Loan or Eurodollar Term Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit 2020 Extended Termination Date (or, in the case of New Term III Loans, one month prior to the New Term III Termination Date); and provided, further, that if the Company Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Eurodollar Revolving Credit Loans or Eurodollar Term Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Sources: Competitive Advance and Revolving Credit Agreement (Tegna Inc)
Conversion and Continuation Options. (a) The Company Borrower may ----------------------------------- elect from time to time to convert Eurodollar Revolving Credit Loans or C/D Rate Loans to ABR Loans, and/or to convert Eurodollar Loans or ABR Loans to C/D Rate Loans, by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Loans -------- or C/D Rate Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans or C/D Rate Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election, provided -------- that any such conversion of C/D Rate Loans may, subject to the third succeeding sentence, only be made on the last day of an Interest Period with respect thereto. Any such notice of conversion to Eurodollar Revolving Credit Loans or C/D Rate Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. If the last day of the then current Interest Period with respect to C/D Rate Loans that are to be converted to Eurodollar Loans is not a Business Day, such conversion shall be made on the next succeeding Business Day, and during the period from such last day to such succeeding Business Day such Loans shall bear interest as if they were ABR Loans. All or any part of outstanding Eurodollar Revolving Credit Loans, ABR Loans or ABR and C/D Rate Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit -------- Loan or a C/D Rate Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Majority Lenders have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan or a C/D Rate Loan after the date that is one month or 30 days, respectively, prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans or C/D Rate Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit Loan or C/D Rate Loan may be continued -------- as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Majority Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month or 30 days prior to to, respectively, the Revolving Credit Termination Date and provided, further, that if -------- the Company Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Sources: Credit Agreement (Conectiv Inc)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving the Administrative Agent at least three two Eurodollar Business Days' prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Eurodollar Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR Loans may be converted as provided herein; , provided that (i) no Revolving Credit Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Revolving Credit Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Final Maturity Date.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Revolving Credit Loans; , provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Final Maturity Date and provided, further, that if the Company Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Revolving Credit Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Base Rate Loans by giving the Administrative Agent at least three one Business Days' Day prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Loans may only be made only on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Base Rate Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' ’ prior irrevocable notice of such election. Any such election (which notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period therefor), provided that no Base Rate Loan under a particular Facility may be converted into a Eurodollar Loan (i) when any Event of Default has occurred and is continuing and the Administrative Agent has, or Interest Periods thereforthe Majority Facility Lenders in respect of such Facility have, determined in its or their sole discretion not to permit such conversions or (ii) after the date that is one month prior to the final scheduled termination or maturity date of such Facility. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR Loans may be converted as provided herein; provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date.
(b) Any The Borrower may elect to continue any Eurodollar Revolving Credit Loans may be continued Loan as such upon the expiration of the then current Interest Period with respect thereto by the Company giving irrevocable notice to the Administrative Agent, in accordance with the applicable provisions of the term "“Interest Period" ” set forth in Section 1.1, of the length of the next Interest Period to be applicable to such LoansLoan, provided, that if the Borrower shall fail to give any such required notice as described above, or notify the Administrative Agent of an intent to convert any such Eurodollar Loan to a Base Rate Loan, at least three Business Days prior to the expiration of the then current Interest Period, at the end of such Interest Period, such Loan shall be continued automatically as a Eurodollar Loan with a three-month Interest Period (unless the then final scheduled termination or maturity date for the relevant Facility would be prior to the end of such three-month Interest Period or such continuation is not permitted pursuant to the following proviso, in which case such Loan shall, absent the consent of the Administrative Agent to the contrary (which may be given or withheld in its sole discretion) then be converted automatically to a Base Rate Loan); provided and provided, further, that no Eurodollar Revolving Credit Loan under a particular Facility may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has, or the Required Majority Facility Lenders have in respect of such Facility have, determined that in its or their sole discretion not to permit such a continuation is not appropriate, continuations or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and provided, further, that if the Company shall fail to give any required notice as described above in this paragraph final scheduled termination or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day maturity date of such then expiring Interest PeriodFacility. Upon receipt of any such notice referred to above, the Administrative Agent shall promptly notify the Lenders each relevant Lender thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit LIBOR Loans to ABR Base Rate Loans, by the Borrower giving the Administrative Agent at least three one (1) Business Days' Day’s prior irrevocable written notice of such election; election pursuant to a Continuation Notice, provided that any such conversion of Eurodollar LIBOR Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on thereto. Subject to Sections 2.9 and 2.11 and so long as no Event of Default shall have occurred and is then continuing, the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17). The Company Borrower may elect from time to time to convert ABR Base Rate Loans to Eurodollar Revolving Credit LIBOR Loans by the Borrower giving the Administrative Agent at least three (3) Eurodollar Business Days' ’ prior irrevocable written notice of such electionelection pursuant to a Continuation Notice. Any such notice of conversion to Eurodollar Revolving Credit LIBOR Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit LIBOR Loans or ABR Loans and, subject to Sections 2.9 and 2.11, Base Rate Loans, may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 2.6 shall not have been contravened and (iiiii) no such Loan may be converted into a Eurodollar Revolving Credit LIBOR Loan after the date that is one month prior to the Revolving Credit Termination Loan Commitment Expiration Date.
(b) Any Eurodollar Revolving Credit Loans LIBOR Loan may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "“Interest Period" ” set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; LIBOR Loan, provided that that, unless the Agent otherwise consents in writing, no Eurodollar Revolving Credit LIBOR Loan may be continued as such if, (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 2.6 would be contravened or contravened, (iiiii) after the date that is one month prior to the Revolving Credit Termination Date Loan Commitment Expiration Date, or (iii) if an Event of Default shall have occurred and be continuing, and provided, further, that if the Company Borrower shall fail to give any required notice as described above in this paragraph Section or if such continuation is not permitted pursuant to the preceding proviso proviso, such Loans shall be automatically converted to ABR LIBOR Loans having an Interest Period of one (1) month, on the last day of such then then-expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Sources: Credit Agreement (J2 Global, Inc.)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit LIBOR Loans to ABR Base Rate Loans, by the Borrower giving the Administrative Agent at least three two Business Days' ’ prior irrevocable written notice of such election; election pursuant to a Continuation Notice, provided that any such conversion of Eurodollar LIBOR Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Base Rate Loans to Eurodollar Revolving Credit LIBOR Loans by the Borrower giving the Administrative Agent at least three Eurodollar Business Days' ’ prior irrevocable written notice of such electionelection pursuant to a Continuation Notice. Any such notice of conversion to Eurodollar Revolving Credit LIBOR Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit LIBOR Loans or ABR and Base Rate Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 2.9 shall not have been contravened and contravened, (iiiii) no Incremental Loan may be converted into a Eurodollar LIBOR Loan after the date that is one month prior to the Incremental Loan Commitment Expiration Date, (iii) no Revolving Credit Loan may be converted into a LIBOR Loan after the date that is one month prior to the Revolving Credit Termination DateLoan Commitment Expiration Date and (iv) the Borrower shall not have the right to elect to continue at the end of the applicable Interest Period, or to convert to, a LIBOR Loan if a Default shall have occurred and be continuing.
(b) Any Eurodollar Revolving Credit Loans LIBOR Loan may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "“Interest Period" ” set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; LIBOR Loan, provided that no Eurodollar Revolving Credit LIBOR Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 2.9 would be contravened or contravened, (ii) with respect to Incremental Loans, after the date that is one month prior to the Incremental Loan Commitment Expiration Date, (iii) with respect to Revolving Loans, after the date that is one month prior to the Revolving Credit Termination Loan Commitment Expiration Date or (iv) if a Default shall have occurred and be continuing and provided, further, that if the Company Borrower shall fail to give any required notice as described above in this paragraph Section or if such continuation is not permitted pursuant to the preceding proviso proviso, such Loans shall be automatically converted to ABR Base Rate Loans on the last day of such then then-expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving the Administrative Agent at least three one Business Days' Day's prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the 30 25 Required Lenders have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and provided, further, that if the Company Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, by giving the Administrative Agent at least three two (2) Business Days' prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three (3) Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each affected Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined in its or their sole discretion that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall 2.2(e) would not have been contravened be contravened, and (iii) no Revolving Credit Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one (1) month prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving irrevocable notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined in its or their sole discretion that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 2.2(e) would be contravened contravened, or (iii) after the date that is one month prior to the Revolving Credit Termination Date Date, and provided, further, that if the Company Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred pursuant to abovethis Section 2.4(b), the Administrative Agent shall promptly notify the Lenders each Lender thereof.
Appears in 1 contract
Sources: Credit Agreement (Kimco Realty Corp)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Rate Loans to ABR Loans, Reference Rate Loans by giving the Administrative applicable Loan Agent at least three Business two Banking Days' ’ prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Rate Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Reference Rate Loans to Eurodollar Revolving Credit Rate Loans by giving the Administrative applicable Loan Agent at least three Business Banking Days' ’ prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Rate Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative applicable Loan Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Rate Loans or ABR Reference Rate Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Rate Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Majority Lenders have determined provided notice to Borrowers that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Rate Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower’s giving notice to the Administrative applicable Loan Agent, in accordance with the applicable provisions of the term "“Interest Period" ” set forth in Section 1.11.01, of the length of the next Interest Period to be applicable to such Loans; Loan, provided that no Eurodollar Revolving Credit Rate Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Majority Lenders have determined provided notice to Borrower that such a continuation of a Eurodollar Rate Loan is not appropriate, (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and provided, further, that if the Company Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Reference Rate Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Sources: Credit Agreement (Bally Total Fitness Holding Corp)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Alternate Base Rate Loans by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Alternate Base Rate Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Working Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR and Alternate Base Rate Loans may be converted as provided herein; , provided that (i) no Revolving Credit Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 4.3 shall not have been contravened and (iii) no Revolving Credit Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Revolving Credit Loans; , provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 4.3 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and provided, further, that if the Company Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Revolving Credit Loans shall be automatically converted to ABR Alternate Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Primary Borrower may elect from time to time to convert Eurodollar Revolving Credit Eurocurrency Loans denominated in Dollars to ABR Loans, Loans by giving delivering to the Administrative Agent an irrevocable Notice of Borrowing by 10:00 A.M., New York City time, at least three one Business Days' Day prior irrevocable notice to the requested date of such electionconversion; provided that any such conversion of Eurodollar Eurocurrency Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Primary Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Eurocurrency Loans denominated in Dollars by giving delivering to the Administrative Agent an irrevocable Notice of Borrowing by 10:00 A.M., New York City time, at least three Business Days' prior irrevocable notice of such electionto the requested conversion date. Any such notice Notice of Borrowing with respect to a conversion to Eurodollar Revolving Credit Eurocurrency Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice Notice of Borrowing, the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Eurocurrency Loans or and ABR Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Eurocurrency Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Majority Term Lenders have determined that such a conversion is not appropriateappropriate and the Administrative Agent has given notice to the Primary Borrower that no conversion may be made, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Revolving Credit Loan may be converted into a Eurodollar Revolving Credit Eurocurrency Loan after the date that is one month prior to the Revolving Credit Termination DateDate and (iii) no Tranche A Loan or Tranche B Loan may be converted into a Eurocurrency Loan after the date that is one month prior to the date of the final installment of principal thereof. Notwithstanding anything to the contrary contained herein, Swing Line Loans shall at all times be maintained as ABR Loans and shall not be converted to Eurocurrency Loans hereunder.
(b) Any Eurodollar Revolving Credit Eurocurrency Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company giving notice any Borrower delivering to the Administrative AgentAgent (and, in the case of the German Term Loans, to the German Term Loan Servicing Bank) an irrevocable Notice of Borrowing, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of setting forth (among other things) the length of the next Interest Period to be applicable to such Loans; , provided that (i) no Eurodollar Revolving Credit Loan under any Facility may be continued as such (i) a Eurocurrency Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent (in consultation with the German Term Loan Servicing Bank, in the case of the German Term Loan Facility) has or the Required Majority Facility Lenders with respect to such Facility have determined that such a continuation is not appropriateappropriate and the Administrative Agent has given notice to the relevant Borrower that no such continuations may be made, (ii) if, after giving effect thereto, Section 2.10 would no Revolving Credit Loan may be contravened or (iii) continued as a Eurocurrency Loan after the date that is one month prior to the Revolving Credit Termination Date and (iii) no Term Loan may be continued as a Eurocurrency Loan after the date that is one month prior to the date of the final installment of principal of such Term Loan and provided, further, that if the Company relevant Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans (A) in the case of Loans denominated in Dollars, shall be automatically converted to ABR Loans on the last day of such then expiring Interest PeriodPeriod and (B) in the case of Loans denominated in euro, shall be continued for Interest Periods of one month or such shorter duration as the Administrative Agent (in consultation with the German Term Loan Servicing Bank, with respect to the German Term Loan Facility) may select. Upon receipt of any notice referred to abovesuch Notice of Borrowing, the Administrative Agent (or, in the case of the German Term Loans, the German Term Loan Servicing Bank) shall promptly notify the Lenders each affected Lender thereof.
Appears in 1 contract
Sources: Credit Agreement (Dynatech Corp)
Conversion and Continuation Options. The Borrower shall have ----------------------------------- the right at any time upon prior irrevocable notice to the Agent (i) not later than 12:00 noon, Wilmington time, on the Business Day of conversion, to convert any Eurodollar Loan to a Base Rate Loan, (ii) not later than 12:00 noon, Wilmington time, three Business Days prior to conversion or continuation, to (y) convert any Base Rate Loan into a Eurodollar Loan, or (z) to continue any Eurodollar Loan as a Eurodollar Loan for any additional Interest Period and (iii) not later than 12:00 noon, Wilmington time, three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar Loan to another permissible Interest Period, subject in each case to the following: -------
(a) The Company a Eurodollar Loan may elect from not be converted at a time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election; provided that any such conversion of Eurodollar Loans may only be made on other than the last day of an the Interest Period with respect thereto applicable thereto;
(b) any portion of a Loan maturing or on any other day if on the date of such conversion the Company pays required to the Administrative Agent for the account of the Lenders accrued interest on such be repaid in less than one month may not be converted into or continued as a Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17). The Company may elect from time to time to convert ABR Loans to Loan;
(c) no Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR Loans Loan may be converted continued as provided herein; provided that (i) such and no Base Rate Loan may be converted into to a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders Banks have determined that such a continuation is not appropriate, ;
(iid) if, after giving effect thereto, any portion of a Eurodollar Loan that cannot be converted into or continued as a Eurodollar Loan by reason of Section 2.10 would be contravened 2.18(b) or (iiic) after automatically shall be converted at the date that is one month prior end of the Interest Period in effect for such Loan to a Base Rate Loan; and
(e) on the Revolving Credit Termination Date and provided, further, that last day of any Interest Period for Eurodollar Loans if the Company Borrower shall fail have failed to give any required notice of conversion or continuation as described above in this paragraph subsection or if such conversion or continuation is not permitted pursuant to the preceding proviso this Section 2.18, such Loans shall be automatically converted to ABR Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt Accrued interest on a Loan (or portion thereof) being converted shall be paid by the Borrower at the time of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereofconversion.
Appears in 1 contract
Sources: Credit Agreement (Dover Downs Gaming & Entertainment Inc)
Conversion and Continuation Options. (a) The Company Borrower may elect ---------------------------------------- from time to time to convert LIBOR Loans or CD Rate Loans to ABR Loans, by giving the Administrative Agent at least one Business Day's prior irrevocable notice of such election, provided that any such conversion of LIBOR Loans or CD -------- Rate Loans may only be made on the last day of an Interest Period with respect thereto. The Borrower may elect from time to time to convert Eurodollar Revolving Credit ABR Loans or CD Rate Loans to LIBOR Loans , and/or to convert LIBOR Loans or ABR Loans to CD Rate Loans, by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election; , provided that any such conversion of Eurodollar -------- LIBOR Loans or CD Rate Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17). The Company may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such electionthereto. Any such notice of conversion to Eurodollar Revolving Credit LIBOR Loans or CD Rate Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit LIBOR Loans, ABR Loans or ABR and CD Rate Loans may be converted as provided herein; , provided -------- that (i) no Loan may be converted into a Eurodollar Revolving Credit LIBOR Loan or a CD Rate Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Majority Lenders have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit LIBOR Loan or a CD Rate Loan after the date that is one month or 30 days, respectively, prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit LIBOR Loans or CD Rate Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit LIBOR Loan or CD Rate Loan may be continued as such (i) when -------- any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Majority Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month or 30 days prior to to, respectively, the Revolving Credit Termination Date and provided, further, that if the Company Borrower shall fail to give any required -------- ------- such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Sources: 364 Day Credit Agreement (Virginia Electric & Power Co)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Loans may be converted as provided herein; , provided that (i) no ABR Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no ABR Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Eurodollar Loans; , provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and provided, further, that if the Company Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Eurodollar Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Sources: Credit Agreement (Adams Outdoor Advertising LTD Partnership)
Conversion and Continuation Options. At any time that the Loans (aor any portion thereof) The Company may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR are not CP Rate Loans, by giving the Company shall have the right at any time upon prior irrevocable notice to the Administrative Agent at least (i) not later than 12:00 noon, New York City time, one Business Day prior to conversion, to convert any Eurodollar Loan to a Base Rate Loan, (ii) not later than 10:00 a.m., New York City time, three Business Days' Days prior irrevocable notice of such election; provided that to conversion or continuation, to convert any such conversion of Base Rate Loan into a Eurodollar Loans Loan or to continue any Eurodollar Loan as a Eurodollar Loan for any additional Interest Period and (iii) not later than 10:00 a.m., New York City time, three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar Loan to another permissible Interest Period, subject in each case, to the following:
(i) a Eurodollar Loan may only not be made on converted at a time other than the last day of an the Interest Period with respect thereto applicable hereto;
(ii) any portion of a Loan maturing or on any other day if on the date of such conversion the Company pays required to the Administrative Agent for the account of the Lenders accrued interest on such repaid in less than one month may not be converted into or continued as a Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17). The Company may elect from time to time to convert ABR Loans to Loan;
(iii) no Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR Loans Loan may be converted continued as provided herein; provided that (i) such and no Base Rate Loan may be converted into to a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Majority Lenders have determined that such a continuation is not appropriate, ;
(iv) any portion of a Eurodollar Loan that cannot be converted into or continued as a Eurodollar Loan by reason of subsections (ii) if, after giving effect thereto, Section 2.10 would be contravened or and (iii) after above automatically shall be converted at the date that is one month prior end of the Interest Period in effect for such Loan to a Base Rate Loan; and
(v) on the Revolving Credit Termination Date and providedlast day of any Interest Period for Eurodollar Loans, further, that if the Company shall fail has failed to give any required notice Notice of Conversion or Notice of Continuation as described above in this paragraph Section 2.07(c) or if such conversion or continuation is not permitted pursuant to the preceding proviso subsection (iv) above, such Loans shall be automatically converted to ABR Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt The Company must deliver a Notice of Continuation as shown in Exhibit B-1 to effect a continuation of any notice referred Eurodollar Loan and a Notice of Conversion as shown in Exhibit B-2 to above, the Administrative Agent shall promptly notify the Lenders thereofeffect a conversion of a Loan from a Eurodollar Loan to a Base Rate Loan and from a Base Rate Loan to a Eurodollar Loan.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit LIBOR Loans to ABR Base Rate Loans, by the Borrower giving the Administrative Agent at least three two Business Days' prior irrevocable written notice of such election; provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable election pursuant to Section 2.17)a Continuation Notice. The Company Borrower may elect from time to time to convert ABR Base Rate Loans to Eurodollar Revolving Credit LIBOR Loans by the Borrower giving the Administrative Agent at least three Eurodollar Business Days' prior irrevocable written notice of such electionelection pursuant to a Continuation Notice. Any such notice of conversion to Eurodollar Revolving Credit LIBOR Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit LIBOR Loans or ABR and Base Rate Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 2.7 shall not have been contravened and contravened, (iiiii) no Term Loan may be converted into a Eurodollar LIBOR Loan after the date that is one month prior to the due date of the final installment of principal of the Term Loans, (iii) no Revolving Credit Loan may be converted into a LIBOR Loan after the date that is one month prior to the Revolving Credit Termination DateLoan Commitment Expiration Date and (iv) the Borrower shall not have the right to elect to continue at the end of the applicable Interest Period, or to convert to, a LIBOR Loan if a Default shall have occurred and be continuing.
(b) Any Eurodollar Revolving Credit Loans LIBOR Loan may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; LIBOR Loan, provided that no Eurodollar Revolving Credit LIBOR Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 2.7 would be contravened or contravened, (ii) after the date that is one month prior to the due date of the final installment of principal of the Term Loans, (iii) after the date that is one month prior to the Revolving Credit Termination Loan Commitment Expiration Date or (iv) if a Default shall have occurred and be continuing and provided, further, that if the Company Borrower shall fail to give any required notice as described above in this paragraph Section or if such continuation is not permitted pursuant to the preceding proviso proviso, such Loans shall be automatically converted to ABR Base Rate Loans on the last day of such then then-expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Each Borrower may elect from time to time to convert Eurodollar Revolving Credit Eurocurrency Loans to ABR Loans, Loans by giving delivering to the Administrative Agent an irrevocable Notice of Borrowing by 11:00 A.M., New York City time, at least three one Business Days' Day prior irrevocable notice to the requested date of such electionconversion; provided PROVIDED that any such conversion of Eurodollar Eurocurrency Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Each Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Eurocurrency Loans by giving delivering to the Administrative Agent an irrevocable Notice of Borrowing by 11:00 A.M., New York City time, at least three Business Days' prior irrevocable notice of such electionto the requested conversion date. Any such notice Notice of Borrowing with respect to a conversion to Eurodollar Revolving Credit Eurocurrency Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice Notice of Borrowing, the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Eurocurrency Loans or and ABR Loans may be converted as provided herein; provided , PROVIDED that (i) no Loan may be converted into a Eurodollar Revolving Credit Eurocurrency Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Revolving Credit Loan may be converted into a Eurodollar Revolving Credit Eurocurrency Loan after the date that is one month prior to the Revolving Credit Termination Date. Notwithstanding anything to the contrary contained herein, Swing Line Loans shall at all times be maintained as ABR Loans and shall not be converted to Eurocurrency Loans hereunder.
(b) Any Eurodollar Revolving Credit Eurocurrency Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company giving notice relevant Borrower delivering to the Administrative AgentAgent an irrevocable Notice of Borrowing, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of setting forth (among other things) the length of the next Interest Period to be applicable to such Loans; provided , PROVIDED that (i) no Eurodollar Revolving Credit Loan may be continued as such (i) a Eurocurrency Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a continuation is not appropriate, appropriate and (ii) if, after giving effect thereto, Section 2.10 would no Revolving Credit Loan may be contravened or (iii) continued as a Eurocurrency Loan after the date that is one month prior to the Revolving Credit Termination Date and providedPROVIDED, furtherFURTHER, that if the Company a Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso permitted, such Loans shall (x) in the case of any Loan to the Company, be automatically converted to ABR Loans on the last day of such then expiring Interest PeriodPeriod and (y) in each other case, bear interest at a rate equal to the rate determined by the Administrative Agent (in its reasonable discretion and notified to the relevant Borrower) as reflecting a reasonable cost of funds for the maintenance by the Lenders of such Loan on an overnight basis PLUS (in the case of this clause (y)) the Applicable Margin then in effect with respect to Eurocurrency Loans. Upon receipt of any notice referred to abovesuch Notice of Borrowing, the Administrative Agent shall promptly notify the Lenders each Lender thereof.
Appears in 1 contract
Sources: Credit Agreement (Hexcel Corp /De/)
Conversion and Continuation Options. (a) The Company Borrowers may elect from time to time to convert outstanding Loans from Eurodollar Revolving Credit Rate Loans to ABR Loans, Prime Rate Loans by giving the Administrative Agent Bank at least three two Business Days' prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Rate Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if thereto. Subject to the limitations on the date availability of such conversion Eurodollar Rate Loans, the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17). The Company Borrowers may elect from time to time to convert ABR outstanding Loans from Prime Rate Loans to a Eurodollar Revolving Credit Loans Rate Loan by giving the Administrative Agent Bank telephonic or written notice (the "NOTICE OF CONVERSION") at least three two Business Days' Days prior irrevocable notice to the requested date for the conversion, which Notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans Conversion shall specify (i) the date for the conversion, (ii) the aggregate amount of Prime Rate Loans to be converted and (iii) the length of the initial Interest Period for such Eurodollar Rate Loan. Each conversion from Prime Rate Loans to a Eurodollar Rate Loan shall be in the principal amount of $500,000 or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereoflarger amount. All or any part of outstanding Eurodollar Revolving Credit Rate Loans or ABR and Prime Rate Loans may be converted as provided herein; , provided that (i) (unless the Bank otherwise consents) no Prime Rate Loan may be converted into a Eurodollar Revolving Credit Rate Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Prime Rate Loan may be converted into a Eurodollar Revolving Credit Rate Loan after the date that is one month twenty days prior to the Revolving Credit Termination Datelast day of the Commitment Period.
(b) Any Subject to the limitations on the availability of Eurodollar Revolving Credit Rate Loans, any Eurodollar Rate Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrowers giving notice the Bank telephonic or written notice, at least two Business Days prior to the Administrative Agent, in accordance with the applicable provisions last day of the term "then current Interest Period" set forth in Section 1.1, and which notice shall specify (i) the amount of the Eurodollar Rate Loans to be continued as such and (ii) the length of the next Interest Period to for such Eurodollar Rate Loans. All or any part of outstanding Eurodollar Rate Loans may be applicable to such Loans; continued as provided herein, provided that (i) (unless the Bank otherwise consents) no Eurodollar Revolving Credit Rate Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 would no Eurodollar Rate Loan may be contravened or (iii) continued as a Eurodollar Rate Loan after the date that is one month twenty days prior to the Revolving Credit Termination Date and provided, further, that if the Company shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest the Commitment Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Sources: Revolving Credit Agreement (M I Schottenstein Homes Inc)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans Convert LIBOR Advances to ABR Loans, Base Rate Advances by giving the Administrative Agent Lender at least one Business Day's prior irrevocable notice of such election, provided that any such Conversion of -------- LIBOR Advances may only be made on the last day of an Interest Period with respect thereto. The Borrower may elect from time to time to Convert Base Rate Advances to LIBOR Advances by giving the Lender at least three Business Days' prior irrevocable notice of such election; provided that any such conversion of Eurodollar Loans Conversion may -------- only be made occur on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17). The Company may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such electiona LIBOR Borrowing Date. Any such notice of conversion Conversion to Eurodollar Revolving Credit Loans LIBOR Advances shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR Loans LIBOR Advances and Base Rate Advances may be converted Converted as provided herein; , provided that (i) no Loan may be converted -------- Converted into a Eurodollar Revolving Credit Loan LIBOR Advance when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have Lender has determined that such a conversion Conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan Base Rate Advance may be converted into a Eurodollar Revolving Credit Loan LIBOR Advance after the date that is one month or 30 days prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans LIBOR Advances may be continued Continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, Lender of the length of the next Interest Period to be applicable to such Loans; Advances, provided that no Eurodollar Revolving Credit Loan LIBOR Advance may be continued Continued as such (i) -------- when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have Lender has determined that such a continuation Continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month or 30 days prior to the Revolving Credit Termination Date and Date; provided, further, -------- ------- that if the Company Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso notice, such Loans Advances shall be automatically converted to ABR Loans Continued as LIBOR Advances for an equivalent Interest Period on the last day of such then expiring Interest Period. Upon receipt ; provided, however, that if -------- ------- such Continuation is not permitted, such Advance shall be automatically Converted into a Base Rate Advance on the last day of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereofsuch then expiring Interest Period.
Appears in 1 contract
Sources: Master Loan and Security Agreement (Imperial Credit Commercial Mortgage Investment Corp)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders Lender have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no ABR Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Commitment Termination DateDate (in the case of conversions of Revolving Credit Loans) or the date of the final installment of principal of the Term Loans (in the case of conversions of Term Loans).
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Commitment Termination Date (in the case of continuations of Revolving Credit Loans) or the date of the final installment of principal of the Term Loans (in the case of continuations of Term Loans) and provided, further, that if the Company Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Sources: Credit Agreement (Digital Television Services of Kansas LLC)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit LIBOR Loans to ABR Alternate Base Rate Loans, by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; , provided that any such conversion of Eurodollar LIBOR Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Alternate Base Rate Loans to Eurodollar Revolving Credit LIBOR Loans by giving the Administrative Agent at least three Business Working Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit LIBOR Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender Bank thereof. All or any part of outstanding Eurodollar Revolving Credit LIBOR Loans or ABR and Alternate Base Rate Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 subsection 2.9 shall not have been contravened and (iiiii) no Revolving Credit Loan may be converted into a Eurodollar Revolving Credit LIBOR Loan after the date that is one month prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit LIBOR Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such LIBOR Loans; provided , PROVIDED that no Eurodollar Revolving Credit LIBOR Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 subsection 2.9 would be contravened or (iiiii) after the date that is one month prior to the Revolving Credit Termination Date and providedPROVIDED, furtherFURTHER, that if the Company Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Revolving Credit Loans shall be automatically converted to ABR Alternate Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Sources: Five Year Facility Credit Agreement (Franklin Resources Inc)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving the Administrative Agent at least three one Business Days' Day's prior irrevocable notice of such election; provided , PROVIDED that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Loans may be converted as provided herein; provided , PROVIDED that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; provided , PROVIDED that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and providedPROVIDED, furtherFURTHER, that if the Company Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans Borrowings to ABR Loans, Floating Borrowings by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; provided , PROVIDED that any such conversion of Eurodollar Loans may Borrowings shall only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans Floating Rate Borrowings to Eurodollar Revolving Credit Loans Borrowings by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR Loans Borrowings and Floating Rate Borrowings may be converted as provided herein; provided , PROVIDED that (i) no Loan Advance may be converted into a Eurodollar Revolving Credit Loan Borrowing when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriatecontinuing, (ii) partial conversions shall be in an aggregate principal amount of (A) in the case of any conversion of Floating Rate Borrowings, $10,000 or a whole multiple of $10,000 in excess thereof and (B) in the case of any conversion of Eurodollar Borrowings, at least $10,000, (iii) any such conversion may only be made if, after giving effect thereto, Section 2.10 SUBSECTION 2.8(c) shall not have been contravened and (iiiiv) no Loan Advance may be converted into to a Eurodollar Revolving Credit Loan Borrowing after the date that is one month prior to the Revolving Credit Termination Date.
(ba) Any Eurodollar Revolving Credit Loans Borrowing may be continued as such upon the expiration of the then current an Interest Period with respect thereto by compliance by the Company giving notice to the Administrative Agent, in accordance Borrower with the applicable notice provisions of the term "Interest Period" set forth contained in Section 1.1, of the length of the next Interest Period to be applicable to such LoansSECTION 2.5; provided PROVIDED that no Eurodollar Revolving Credit Loan Borrowing may be continued as such (i) when any Default or Event of Default has occurred and is continuing continuing, but shall be automatically converted to a Floating Rate Borrowing on the last day of the Interest Period, in effect for such Advance, during which such Default or Event of Default occurs; and PROVIDED, FURTHER, that if the Administrative Agent or Borrower shall not have complied with such notice provisions, the Required Lenders Borrower shall be deemed irrevocably to have determined requested that such Eurodollar Borrowing be converted to a continuation is not appropriateFloating Rate Borrowing on the last day of such Interest Period.
(b) Any borrowings, (ii) ifconversions, payments and prepayments hereunder shall be in such amounts and be made pursuant to such elections so that, after giving effect thereto, Section 2.10 would the unpaid principal amount of Eurodollar Borrowings shall not be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and provided, further, that if the Company shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereofless than $100,000.
Appears in 1 contract
Sources: Loan Agreement (Geoscience Corp)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Alternate Base Rate Loans by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Alternate Base Rate Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Working Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Applicable Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR and Alternate Base Rate Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 4.3 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date or Term Loan Maturity Date, as applicable.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 4.3 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date or the Term Loan Maturity Date, as applicable, and provided, further, that if the Company Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Alternate Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company By giving a Notice of Conversion, each Borrower may elect from time to time (i) to convert Eurodollar Revolving Credit such Borrower’s Eurocurrency Loans in Dollars to ABR Loans or (ii) to convert such Borrower’s ABR Loans to ABR LoansEurocurrency Loans in Dollars; provided, by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election; provided that any such conversion of Eurodollar Eurocurrency Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17). The Company may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods thereforthereto. Upon receipt of any such notice Notice of Conversion the Administrative Agent shall promptly notify each Lender thereof. All or any part of Eurocurrency Loans outstanding Eurodollar Revolving Credit Loans in Dollars or ABR Loans may be converted as provided in herein; , provided that (i) no ABR Loan may be converted into a Eurodollar Revolving Credit Eurocurrency Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Majority Lenders have determined that such a conversion is not appropriate, (ii) so long as any such conversion may only be made ifOriginal Tranche Loans remain outstanding, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Committed Rate ABR Loan may be converted into a Eurodollar Revolving Credit Committed Rate Eurocurrency Loan during the period beginning on the date that is one month prior to the Original Tranche Termination Date and ending on the Original Tranche Termination Date and (iii) no Extended Tranche ABR Loan may be converted into an Extended Tranche Eurocurrency Loan after the date that is one month prior to the Revolving Credit Extended Tranche Termination Date.
(b) Any Eurodollar Revolving Credit By giving a Notice of Continuation, each Borrower may continue any of its Eurocurrency Loans as Eurocurrency Loans in the same Currency for additional Interest Periods.
(c) Each Borrower may be continued as convert Committed Rate Loans outstanding in one Currency to Committed Rate Loans of a different Currency by repaying such upon Loans in the expiration first Currency and borrowing Loans of the then current Interest Period with respect thereto by the Company giving notice to the Administrative Agent, such different Currency in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; provided that no Eurodollar Revolving Credit Loan may be continued as such this Agreement.
(id) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such If a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and provided, further, that if the Company Borrower shall fail to timely give a Notice of Continuation or a Notice of Conversion in respect of any required notice as described above in this paragraph or if of such continuation Borrower’s Eurocurrency Loans with respect to which an Interest Period is not permitted pursuant to the preceding proviso expiring, such Eurocurrency Loans shall be automatically converted to ABR Loans become due and payable on the last day of such then expiring Interest Period. Upon receipt ; provided, that the Company may, in accordance with and subject to the terms and conditions of this Agreement, refinance such maturing Eurocurrency Loans on such maturity date with Competitive Advance Loans.
(e) Notwithstanding the foregoing, so long as any notice referred to aboveOriginal Tranche Loans shall be outstanding, the Administrative Agent Borrowers shall promptly notify not convert Loans of either Class under this Section unless they shall simultaneously ratably convert the Lenders thereofcorresponding Loans of the other Class.
Appears in 1 contract
Sources: Multi Currency, Multi Option Credit Agreement (Harman International Industries Inc /De/)
Conversion and Continuation Options. (a) The Company Lessee may elect from time to time to convert Eurodollar Revolving Credit Loans Lessor Advances to ABR Loans, Lessor Advances by giving the Administrative Agent Lessor at least three (3) Business Days' ’ prior irrevocable notice of such election; provided , provided, that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if thereto, and provided, further, to the extent an Event of Default has occurred and is continuing on the date last day of any such conversion Interest Period, the Company pays applicable Eurodollar Lessor Advances shall automatically be converted to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)ABR Lessor Advances. The Company Lessee may elect from time to time to convert ABR Loans Lessor Advances to Eurodollar Revolving Credit Loans Lessor Advances by giving the Administrative Agent Lessor at least three (3) Business Days' ’ prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR Loans Lessor Advance may be converted as provided herein; provided , provided, that (i) no Loan ABR Lessor Advance may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan Lessor Advance after the date that is one (1) month prior to the Revolving Credit Termination DateExpiration Date and (ii) such notice of conversion regarding any Eurodollar Lessor Advance shall contain an election by the Lessee of an Interest Period for such Eurodollar Lessor Advance to be created by such conversion and such Interest Period shall be in accordance with the terms of the definition of the term “Interest Period” including without limitation subparagraphs (A) through (D) thereof.
(b) Any Each Eurodollar Revolving Credit Loans may Lessor Advance shall automatically be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company giving notice for an Interest Period of equal duration to the Administrative Agent, in accordance with the applicable provisions of the term "immediately preceding Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; provided provided, that no Eurodollar Revolving Credit Loan Lessor Advance may be continued as such after the date that is one (i1) when any Default or month prior to the Expiration Date, provided, further, no Eurodollar Lessor Advance may be continued as such if a Lease Event of Default has occurred and is continuing and as of the Administrative Agent or last day of the Required Lenders have determined that Interest Period for such a continuation is not appropriateEurodollar Lessor Advance, (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and provided, further, that if the Company shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso provisos, such Loans Eurodollar Lessor Advance shall automatically be automatically converted to an ABR Loans Lessor Advance on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Lessee (on behalf of the Owner Trustee) may elect from time to time to convert Eurodollar Revolving Credit LIBOR Loans to ABR Loans, Loans and LIBOR Holder Advances to ABR Holder Advances by giving the Administrative Agent (on behalf of the Owner Trustee, the Lenders and the Holders) at least three Business Days' prior irrevocable notice of such election; provided , provided, that any such conversion of Eurodollar LIBOR Loans or LIBOR Holder Advances may only be made on the last day of an the Interest Period or Payment Period with respect thereto thereto. The Lessee (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account behalf of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17). The Company Owner Trustee) may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit LIBOR Loans and ABR Holder Advances to LIBOR Holder Advances by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice notice, the Administrative Agent shall promptly notify each Lender thereofrespecting the conversion of any Loans and each Holder respecting the conversion of any Holder Advances. All or any part of outstanding Eurodollar Revolving Credit Loans LIBOR Loans, ABR Loans, LIBOR Holder Advances or ABR Loans Holder Advances may be converted as provided herein; provided , provided, that (i) no ABR Loan or ABR Holder Advance may be converted into a Eurodollar Revolving Credit LIBOR Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan LIBOR Holder Advance after the date that is one month prior to the Revolving Credit Termination Maturity Date or the Expiration Date, as the case may be, (ii) such notice of conversion regarding any LIBOR Loan or LIBOR Holder Advance shall contain an election by the Lessee (on behalf of the Owner Trustee) of an Interest Period for such LIBOR Loan or a Payment Period for such LIBOR Holder Advance to be created by such conversion and such Interest Period or Payment Period shall be in accordance with the terms of the definition of the terms "Interest Period" or "Payment Period," as the case may be.
(b) Any Eurodollar Revolving Credit Loans Subject to the restrictions set forth in Section 2.1, any LIBOR Loan or LIBOR Holder Advance may be continued as such upon the expiration of the then current Interest Period or Payment Period with respect thereto by the Company Lessee (on behalf of the Owner Trustee) giving irrevocable notice to the Administrative AgentAgent (which notice the Agent shall promptly provide to the Lenders and the Holders), in accordance with the applicable provisions notice provision for the conversion of the term "Interest Period" ABR Loans to LIBOR Loans or ABR Holder Advances to LIBOR Holder Advances set forth in Section 1.1herein, of the length of the next Interest Period or Payment Period to be applicable to such Loans; provided Loans or Holder Advances, provided, that no Eurodollar Revolving Credit LIBOR Loan or LIBOR Holder Advance may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Maturity Date or the Expiration Date and provided, further, that if the Company Lessee (on behalf of the Owner Trustee) shall fail to give any required notice as described above in this paragraph or otherwise herein, or if such continuation is not permitted pursuant to the preceding proviso proviso, such Loans Loan or Holder Advance shall automatically be automatically converted to ABR Loans a Reference Rate Loan or Reference Rate Holder Advance on the last day of such then expiring Interest Period or Payment Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Sources: Participation Agreement (Coca Cola Bottling Co Consolidated /De/)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; , provided that in the event any such conversion of Eurodollar Loans may only be is not made on the last day of an Interest Period with respect thereto (or on any other day if on Period, the date of such conversion the Company pays Borrower shall be obligated to the Administrative Agent for the account of reimburse the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable in respect thereof pursuant to Section 2.17)subsection 6.14. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination DateDate or, as the case may be, the date on which the Term Loans mature.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date or, as the case may be, the day on which the Term Loans mature and provided, further, that if the Company Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Borrowers may elect from time to time to convert Eurodollar Revolving Credit outstanding Loans from LIBOR Rate Loans to ABR Loans, Prime Rate Loans by giving the Administrative Agent at least three Business Days' Bank prior irrevocable notice of such election; election no later than 3:00 p.m., central time, for conversions to be made that day, provided that any such conversion of Eurodollar LIBOR Rate Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if thereto. Subject to the limitations on the date availability of such conversion LIBOR Rate Loans, the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17). The Company Borrowers may elect from time to time to convert ABR outstanding Loans from Prime Rate Loans to Eurodollar Revolving Credit Loans a LIBOR Rate Loan by giving the Administrative Agent at least three Business Days' prior irrevocable Bank telephonic or written notice (the "Notice of such election. Any such notice Conversion") no later than 3:00 p.m., central time, on the date of conversion to Eurodollar Revolving Credit Loans conversion, which Notice of Conversion shall specify (i) the date for the conversion, (ii) the aggregate amount of Prime Rate Loans to be converted and (iii) the length of the initial Interest Period for such LIBOR Rate Loan. Each conversion from Prime Rate Loans to a LIBOR Rate Loan shall be in the principal amount of $500,000 or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereoflarger amount. All or any part of outstanding Eurodollar Revolving Credit LIBOR Rate Loans or ABR Loans and Prime Rate Loan may be converted as provided herein; , provided that (i) (unless the Bank otherwise consents) no Prime Rate Loan may be converted into a Eurodollar Revolving Credit LIBOR Rate Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Prime Rate Loan may be converted into a Eurodollar Revolving Credit LIBOR Rate Loan after the date that is one month five days prior to the Revolving Credit Termination Datelast day of the Commitment Period.
(b) Any Eurodollar Revolving Credit Subject to the limitations on the availability of LIBOR Rate Loans, any LIBOR Rate Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrowers giving notice the Bank telephonic or written notice, at least three Business Days prior to the Administrative Agent, in accordance with the applicable provisions last day of the term "then current Interest Period" set forth in Section 1.1, and which notice shall specify (i) the amount of the LIBOR Rate Loans to be continued as such and (ii) the length of the next Interest Period to for such LIBOR Rate Loans. All or any part of outstanding LIBOR Rate Loans may be applicable to such Loans; continued as provided herein, provided that (i) (unless the Bank otherwise consents) no Eurodollar Revolving Credit LIBOR Rate Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 would no LIBOR Rate Loan may be contravened or (iii) continued as a LIBOR Rate Loan after the date that is one month five days prior to the Revolving Credit Termination Date and provided, further, that if the Company shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest the Commitment Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit LIBOR Loans to ABR Alternate Base Rate Loans, by the Borrower giving the Administrative Agent at least three two Business Days' prior irrevocable written notice of such election; election pursuant to a Continuation Notice, provided that any such conversion of Eurodollar LIBOR Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Alternate Base Rate Loans to Eurodollar Revolving Credit LIBOR Loans by the Borrower giving the Administrative Agent at least three Eurodollar Business Days' prior irrevocable written notice of such electionelection pursuant to a Continuation Notice. Any such notice of conversion to Eurodollar Revolving Credit LIBOR Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit LIBOR Loans or ABR and Alternate Base Rate Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 2.8 shall not have been contravened and contravened, (iiiii) no Term Loan or Incremental Loan may be converted into a Eurodollar LIBOR Loan after the date that is one month prior to the due date of the final installment of principal of the Term Loans or the Incremental Loans, as applicable, (iii) no Revolving Credit Loan may be converted into a LIBOR Loan after the date that is one month prior to the Revolving Credit Termination DateLoan Commitment Expiration Date and (iv) the Borrower shall not have the right to elect to continue at the end of the applicable Interest Period, or to convert to, a LIBOR Loan if a Default shall have occurred and be continuing.
(b) Any Eurodollar Revolving Credit Loans LIBOR Loan may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; LIBOR Loan, provided that no Eurodollar Revolving Credit LIBOR Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 2.8 would be contravened contravened, (ii) after the date that is one month prior to the due date of the final installment of principal of the Term Loans or the Incremental Loans, as applicable, (iii) after the date that is one month prior to the Revolving Credit Termination Loan Commitment Expiration Date or (iv) if a Default shall have occurred and be continuing and provided, further, that if the Company Borrower shall fail to give any required notice as described above in this paragraph Section or if such continuation is not permitted pursuant to the preceding proviso proviso, such Loans shall be automatically converted to ABR Alternate Base Rate Loans on the last day of such then then-expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company By giving a Notice of Conversion, each Borrower may elect from time to time (i) to convert Eurodollar Revolving Credit such Borrower’s LIBOR Loans in US Dollars to ABR Loans or (ii) to convert such Borrower’s ABR Loans to ABR Loans, by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such electionLIBOR Loans in US Dollars; provided that any such conversion of Eurodollar LIBOR Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17). The Company may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods thereforthereto. Upon receipt of any such notice Notice of Conversion the Administrative Agent shall promptly notify each Lender thereof. All or any part of LIBOR Loans outstanding Eurodollar Revolving Credit Loans in US Dollars or ABR Loans may be converted as provided in herein; provided that (iA) no ABR Loan may be converted into a Eurodollar Revolving Credit LIBOR Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Majority Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened appropriate and (iiiB) no ABR Loan may be converted into a Eurodollar Revolving Credit LIBOR Loan after the date that is one month prior to the Revolving Credit Termination Maturity Date.
(b) Any Eurodollar Revolving Credit By giving a Notice of Continuation, each Borrower may continue any of its LIBOR Loans, EURIBOR Loans or CDOR Loans as LIBOR Loans, EURIBOR Loans or CDOR Loans, as the case may be continued as be, in the same Currency for additional Interest Periods.
(c) Each Borrower may convert Loans outstanding in one Currency to Loans of a different Currency by repaying such upon Loans in the expiration first Currency and borrowing Loans of the then current Interest Period with respect thereto by the Company giving notice to the Administrative Agent, such different Currency in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; provided that no Eurodollar Revolving Credit Loan may be continued as such this Agreement.
(id) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such If a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and provided, further, that if the Company Borrower shall fail to timely give a Notice of Continuation or a Notice of Conversion in respect of any required notice as described above in this paragraph of such Borrower’s LIBOR Loans, EURIBOR Loans or if such continuation CDOR Loans with respect to which an Interest Period is not permitted pursuant to the preceding proviso expiring, such Loans shall be automatically converted to ABR Loans become due and payable on the last day of such then expiring Interest Period. Upon receipt of ; provided that any notice referred to above, the Administrative Agent LIBOR Loans denominated in US Dollars shall promptly notify the Lenders thereofbe continued as ABR Loans.
Appears in 1 contract
Sources: Multi Currency Credit Agreement (Harman International Industries Inc /De/)
Conversion and Continuation Options. (a) The Company Borrower may elect ----------------------------------- from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; provided -------- that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Loans may be converted as provided herein; , provided -------- that (i) no ABR Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no ABR Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Eurodollar Loans; , provided that no -------- Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and provided, further, that if the Company -------- ------- Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Eurodollar Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit LIBOR Loans to ABR Base Rate Loans, by the Borrower giving the Administrative Agent at least three one (1) Business Days' Day’s prior irrevocable written notice of such election; election pursuant to a Continuation Notice, provided that any such conversion of Eurodollar LIBOR Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on thereto. Subject to Sections 2.11, 2.24 and 2.25, and so long as no Event of Default shall have occurred and is then continuing, the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17). The Company Borrower may elect from time to time to convert ABR Base Rate Loans to Eurodollar Revolving Credit LIBOR Loans by the Borrower giving the Administrative Agent at least three (3) Eurodollar Business Days' ’ prior irrevocable written notice of such electionelection pursuant to a Continuation Notice. Any such notice of conversion to Eurodollar Revolving Credit LIBOR Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit LIBOR Loans or ABR Loans and, subject to Sections 2.11, 2.24 and 2.25, Base Rate Loans, may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 2.6 shall not have been contravened and (iiiii) no such Loan may be converted into a Eurodollar Revolving Credit LIBOR Loan after the date that is one month prior to the Delayed Draw Term Loan Maturity Date, the Revolving Credit Termination DateLoan Commitment Expiration Date or the maturity date of any Incremental Term Loan, as applicable.
(b) Any Eurodollar Revolving Credit Loans LIBOR Loan may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "“Interest Period" ” set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; LIBOR Loan, provided that no Eurodollar Revolving Credit LIBOR Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 2.6 would be contravened or contravened, (iiiii) after the date that is one month prior to the Delayed Draw Term Loan Maturity Date, the Revolving Credit Termination Loan Commitment Expiration Date or the maturity date of any Incremental Term Loan, as applicable, or (iii) if an Event of Default shall have occurred and be continuing unless the Agent consents, and provided, further, that if the Company Borrower shall fail to give any required notice as described above in this paragraph Section or if such continuation is not permitted pursuant to the preceding proviso proviso, such Loans shall be automatically converted to ABR LIBOR Loans having an Interest Period of one (1) month, on the last day of such then then-expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit LIBOR Loans to ABR Alternate Base Rate Loans, by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; , provided that any such conversion of Eurodollar LIBOR Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Alternate Base Rate Loans to Eurodollar Revolving Credit LIBOR Loans by giving the Administrative Agent at least three Business Working Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit LIBOR Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender Bank thereof. All or any part of outstanding Eurodollar Revolving Credit LIBOR Loans or ABR and Alternate Base Rate Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 subsection 2.9 shall not have been contravened and (iiiii) no Revolving Credit Loan may be converted into a Eurodollar Revolving Credit LIBOR Loan after the date that is one month prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit LIBOR Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, Agent in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such LIBOR Loans; provided , PROVIDED that no Eurodollar Revolving Credit LIBOR Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 subsection 2.9 would be contravened or (iiiii) after the date that is one month prior to the Revolving Credit Termination Date and providedPROVIDED, furtherFURTHER, that if the Company Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Revolving Credit Loans shall be automatically converted to ABR Alternate Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Sources: Five Year Facility Credit Agreement (Franklin Resources Inc)
Conversion and Continuation Options. (a) The Company may Borrower may, subject to paragraph (b) below, elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election; election prior to 1:00 P.M., Boston time, two Business Days prior to the date of conversion, which notice may be given by telephone (to be promptly confirmed in writing, including by facsimile), provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such electionelection prior to 1:00 P.M., Boston time, two Business Days prior to the date of conversion, which notice may be given by telephone (to be promptly confirmed in writing, including by facsimile). Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each affected Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Loans may be converted as provided herein; , provided that (i) no ABR Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no ABR Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, Agent in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Eurodollar Loans; , which notice may be given by telephone (to be promptly confirmed in writing, including by facsimile), provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or has notified the Required Lenders have Borrower that it has determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date Date, and provided, provided further, that if the Company Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Eurodollar Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred pursuant to abovethis subsection 4.2(b), the Administrative Agent shall promptly notify the Lenders each affected Lender thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company may elect ----------------------------------- from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Base Rate Loans by giving the US Administrative Agent at least three one Business Days' Day's prior irrevocable written or telephonic notice (in the case of telephonic notice, to be promptly confirmed in writing) of such election; , provided that if any such conversion of Eurodollar -------- Loans may only be made occurs on a day other than the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on shall pay any breakage costs in connection with such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)conversion. The Company may elect from time to time to convert ABR Base Rate Loans to Eurodollar Revolving Credit Loans by giving the US Administrative Agent at least three Business Days' prior irrevocable written or telephonic notice (in the case of telephonic notice, to be promptly confirmed in writing) of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the US Administrative Agent shall promptly notify each US$ Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR and Base Rate Loans may be converted as provided herein; , provided that (i) no Base Rate Loan may be -------- converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the US Administrative Agent has or the Required US$ Lenders have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Base Rate Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company giving giving, at least three Business Days' prior, irrevocable written or telephonic notice (in the case of telephonic notice, to be promptly confirmed in writing) to the US Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit Loan -------- may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the US Administrative Agent has or the Required US$ Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date in accordance with the terms described above and provided, further, that if the Company shall fail to give any required -------- ------- such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.expiring
Appears in 1 contract
Sources: Credit Agreement (Pierce Leahy Corp)
Conversion and Continuation Options. (a) The Company Parent Borrower may elect from time to time to convert Eurodollar outstanding Term Loans and Revolving Credit Loans from Eurocurrency Loans made or outstanding in Dollars to ABR Loans, Loans by giving the Administrative Agent at least three two Business Days' ’ prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Eurocurrency Loans made or outstanding in Dollars may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Parent Borrower may elect from time to time to convert outstanding Term Loans and Revolving Credit Loans from ABR Loans to Eurodollar Revolving Credit Eurocurrency Loans outstanding in Dollars by giving the Administrative Agent at least three Business Days' ’ prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Eurocurrency Loans outstanding in Dollars shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each affected Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Eurocurrency Loans made or outstanding in Dollars and ABR Loans may be converted as provided herein; , provided that (i) (unless the Required Lenders otherwise consent) no Loan may be converted into a Eurodollar Revolving Credit Eurocurrency Loan when any Default or Event of Default has occurred and is continuing and and, in the case of any Default, the Administrative Agent or has given notice to the Required Lenders have determined Parent Borrower that no such a conversion is not appropriate, conversions may be made and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Eurocurrency Loan after the date that is one month prior to either the Termination Date (in the case of conversions of Revolving Credit Termination DateLoans) or the Final Maturity Date (in the case of Term Loans).
(b) Any Eurodollar Revolving Credit Loans Eurocurrency Loan may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Parent Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, Agent of the length of the next Interest Period to be applicable to such Loans; Loan, determined in accordance with the applicable provisions of the term “Interest Period” set forth in subsection 1.1, provided that no Eurodollar Revolving Credit Eurocurrency Loan may be continued as such (i) (unless the Required Lenders otherwise consent) when any Default or Event of Default has occurred and is continuing and and, in the case of any Default, the Administrative Agent has given notice to the Parent Borrower that no such continuations may be made or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to either the Termination Date (in the case of continuations of Revolving Credit Termination Loans) or the Final Maturity Date (in the case of continuations of Term Loans), and provided, further, that (A) in the case of Eurocurrency Loans made or outstanding in Dollars, if the Company Parent Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Eurocurrency Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest PeriodPeriod and (B) in case of Eurocurrency Loans made or outstanding in any Designated Foreign Currency, if the Parent Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to clause (i) of the preceding proviso, such Eurocurrency Loans will be continued for the shortest available Interest Periods as determined by the Administrative Agent. Upon receipt of any such notice referred of continuation pursuant to abovethis subsection 4.2(b), the Administrative Agent shall promptly notify the Lenders each affected Lender thereof.
Appears in 1 contract
Sources: Credit Agreement (Sirva Inc)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit LIBOR Loans to ABR Base Rate Loans, by the Borrower giving the Administrative Agent at least three two Business Days' prior irrevocable written notice of such election; provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable election pursuant to Section 2.17)a Continuation Notice. The Company Borrower may elect from time to time to convert ABR Base Rate Loans to Eurodollar Revolving Credit LIBOR Loans by the Borrower giving the Administrative Agent at least three Eurodollar Business Days' prior irrevocable written notice of such electionelection pursuant to a Continuation Notice. Any such notice of conversion to Eurodollar Revolving Credit LIBOR Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit LIBOR Loans or ABR and Base Rate Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 2.9 shall not have been contravened and contravened, (iiiii) no Term A Loan may be converted into a Eurodollar LIBOR Loan after the date that is one month prior to the due date of the final installment of principal of the Term A Loans, (iii) no Term B Loan may be converted into a LIBOR Loan after the date that is one month prior to the due date of the final installment of principal of the Term B Loans, (iv) no Term C Loan may be converted into a LIBOR Loan after the date that is one month prior to the due date of the final installment of principal of the Term C Loans, (v) no Revolving Credit Loan may be converted into a LIBOR Loan after the date that is one month prior to the Revolving Credit Termination DateLoan Commitment Expiration Date and (vi) the Borrower shall not have the right to elect to continue at the end of the applicable Interest Period, or to convert to, a LIBOR Loan if a Default shall have occurred and be continuing.
(b) Any Eurodollar Revolving Credit Loans LIBOR Loan may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; LIBOR Loan, provided that no Eurodollar Revolving Credit LIBOR Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 2.9 would be contravened or contravened, (ii) in the case of any Term A Loans, after the date that is one month prior to the due date of the final installment of principal of the Term A Loans, (iii) in the case of any Term B Loans, after the date that is one month prior 39 34 to the due date of the final installment of principal of the Term B Loans, (iv) in the case of any Term C Loans, after the date that is one month prior to the due date of the final installment of principal of the Term C Loans, (v) in the case of any Revolving Loans, after the date that is one month prior to the Revolving Credit Termination Loan Commitment Expiration Date or (vi) if a Default shall have occurred and provided, further, be continuing and provided further that if the Company Borrower shall fail to give any required notice as described above in this paragraph Section or if such continuation is not permitted pursuant to the preceding proviso proviso, such Loans shall be automatically converted to ABR Base Rate Loans on the last day of such then then-expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Sources: Credit Agreement (Friendship Cable of Arkansas Inc)
Conversion and Continuation Options. (a) The Company HCC may elect from ----------------------------------- time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Loans may only be -------- made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company HCC may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Working Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Rate Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event -------- of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have has determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect theretothereof, Section 2.10 subsection 3.6 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Final Maturity Date.
(ba) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company HCC giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that -------- no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have has determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 subsection 3.6 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Final Maturity Date and provided, further, that if the Company HCC shall fail -------- ------- to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Westinghouse may elect from time to time to convert Eurodollar Revolving Credit Committed Loans (or, subject to Section 2.18(f), a portion thereof) to ABR Loans, by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election; provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to by giving the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date prior irrevocable notice of such conversion together with all amounts payable pursuant to Section 2.17)election. The Company Westinghouse may elect from time to time to convert ABR Loans (subject to Section 2.18(f)) to Eurodollar Revolving Credit Committed Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Committed Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each affected Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Committed Loans or and ABR Loans may be converted as provided herein; , provided that (i) no Committed Loan under a particular Facility may be converted into a Eurodollar Revolving Credit Committed Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Majority Facility Lenders in respect of such Facility have determined that in its or their sole discretion not to permit such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Dateconversion.
(b) Any Eurodollar Revolving Credit Committed Loans (or, subject to Section 2.18(f), a portion thereof) may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Westinghouse giving irrevocable notice to the Administrative Agent, in accordance with not less than three Business Days prior to the applicable provisions last day of the term "then current Interest Period" set forth in Section 1.1Period with respect thereto, of the length of the next Interest Period to be applicable to such Committed Loans; , provided that no Eurodollar Revolving Credit Committed Loan under a particular Facility may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Majority Facility Lenders in respect of such Facility have determined that in its or their sole discretion not to permit such a continuation is not appropriatecontinuation, (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and provided, further, that if the Company Westinghouse shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Eurodollar Committed Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred from Westinghouse pursuant to abovethis Section 2.16(b), the Administrative Agent shall promptly notify the Lenders each affected Lender thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company may elect ----------------------------------- from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, in whole or in part, to Alternate Base Rate Loans by giving the Administrative Agent at least three one Business Days' Day's prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company may elect from time to time to convert ABR Alternate Base Rate Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender Bank thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR Alternate Base Rate Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders Banks, as the case may be, have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 subsection 3.5 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans may be continued continued, in whole or in part, as such upon the expiration of the then current Interest Period with respect thereto by the Company giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Eurodollar Loans; , provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders Banks, as the case may be, have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 subsection 3.5 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and provided, further, that if the Company shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Eurodollar Loans shall be automatically converted to ABR Alternate Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Sources: 364 Day Revolving Credit Agreement (York International Corp /De/)
Conversion and Continuation Options. The Borrower shall have the right at any time upon prior irrevocable notice to the Agent (i) not later than 11:00 a.m., Philadelphia time, on the Business Day of conversion, to convert any Term SOFR Rate Loan to a Base Rate Loan, (ii) not later than 11:00 a.m., Philadelphia time, three Business Days prior to conversion or continuation, (y) to convert any Base Rate Loan into a Term SOFR Rate Loan, or (z) to continue any Term SOFR Rate Loan as a Term SOFR Rate Loan for any additional Interest Period, and (iii) not later than 11:00 a.m., Philadelphia time, three Business Days prior to conversion, to convert the Interest Period with respect to any Term SOFR Rate Loan to another permissible Interest Period, subject in each case to the following:
(a) The Company a Term SOFR Rate Loan may elect from not be converted at a time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election; provided that any such conversion of Eurodollar Loans may only be made on other than the last day of an the Interest Period with respect thereto applicable thereto;
(or on b) any other day if on the date portion of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17). The Company may elect from time to time to convert ABR Loans to Eurodollar a Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion Loan maturing or required to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period be repaid in less than one month may not be converted into or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR Loans continued as a Term SOFR Rate Loan;
(c) no Term SOFR Rate Loan may be converted continued as provided herein; provided that (i) such and no Base Rate Loan may be converted into to a Eurodollar Revolving Credit Term SOFR Rate Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, continuing;
(iid) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall portion of a Term SOFR Rate Loan that cannot have been contravened and (iii) no Loan may be converted into or continued as a Eurodollar Term SOFR Rate Loan by reason of paragraph 2.16(b) or 2.16(c) automatically shall be converted at the end of the Interest Period in effect for such Revolving Credit Loan after to a Base Rate Loan;
(e) if by the date that is one month third Business Day prior to the last day of any Interest Period for Term SOFR Rate Loans, the Borrower has failed to give notice of conversion or continuation as described in this subsection, the Agent shall give notice thereof to the Banks and such Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and provided, further, that if the Company shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Base Rate Loans on the last day of such then expiring Interest Period; and
(f) each request by the Borrower to convert or continue a Revolving Credit Loan shall constitute a representation and warranty that each of the representations and warranties made by the Borrower herein is true and correct in all material respects on and as of such date as if made on and as of such date. Upon receipt Accrued interest on a Revolving Credit Loan (or portion thereof) being converted shall be paid by the Borrower at the time of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereofconversion.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert outstanding Loans from Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert outstanding Loans from ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any Each notice pursuant to this subsection 4.2 shall be irrevocable and shall refer to this Agreement and specify (i) the identity and amount of the Loan that the Borrower requests be converted or continued, (ii) whether such Loan is to be converted to or continued as a Eurodollar or an ABR Loan, (iii) if such notice requests a conversion, the date of such conversion (which shall be a Business Day) and (iv) if such Borrowing is to be converted to or continued as a Eurodollar Revolving Credit Loans shall specify Loan, the length of the initial Interest Period or Interest Periods thereforwith respect thereto. Upon receipt of any such notice the Administrative Agent shall promptly notify each affected Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined given notice to the Borrower that no such a conversion is not appropriate, conversions may be made and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative AgentAgent of the length of the next Interest Period to be applicable to such Loans, determined in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined given notice to the Borrower that no such a continuation is not appropriate, continuations may be made or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date Date, and provided, further, that if the Company Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso paragraph, such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Sources: Credit Agreement (RBX Corp)
Conversion and Continuation Options. (a) The Company may elect from time to time to convert Eurodollar Revolving Credit Loans or C/D Rate Loans to ABR Loans, and/or to convert Eurodollar Loans or ABR Loans to C/D Rate Loans, by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Loans or C/D Rate Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company may elect from time to time to convert ABR Loans or C/D Rate Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election, provided that any such conversion of C/D Rate Loans may, subject to the third succeeding sentence, only be made on the last day of an Interest Period with respect thereto. Any such notice of conversion to Eurodollar Revolving Credit Loans or C/D Rate Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. If the last day of the then current Interest Period with respect to C/D Rate Loans that are to be converted to Eurodollar Loans is not a Business Day, such conversion shall be made on the next succeeding Business Day, and during the period from such last day to such succeeding Business Day such Loans shall bear interest as if they were ABR Loans. All or any part of outstanding Eurodollar Revolving Credit Loans, ABR Loans or ABR and C/D Rate Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan or a C/D Rate Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 subsection 2.8 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan or a C/D Rate Loan after the date that is one month or 30 days, respectively, prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans or C/D Rate Loans may be continued as such upon the expiration of the then then-current Interest Period with respect thereto by the Company giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit Loan or C/D Rate Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 subsection 2.8 would be contravened or (iii) after the date that is one month or 30 days, respectively, prior to the Revolving Credit Termination Date and provided, further, that if the Company shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Sources: Credit Agreement (First Brands Corp)
Conversion and Continuation Options. (a) The Company Any Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Base Rate Loans by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Any Borrower may elect from time to time to convert ABR Base Rate Loans (other than Swing Line Loans) to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR and Base Rate Loans (other than Swing Line Loans) may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date, in the case of conversions of Revolving Credit Loans, or the Term Loan Maturity Date, in the case of conversions of Term Loans.
(b) Any Eurodollar Revolving Credit Loans Loan may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company any Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of which shall specify the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date Date, in the case of continuations of Revolving Credit Loans or the date of the Term Loan Maturity Date, in the case of continuations of Term Loans and provided, further, that if the Company any Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company HCC may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company HCC may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Working Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Rate Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have has determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect theretothereof, Section 2.10 subsection 3.6 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Final Maturity Date.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company HCC giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have has determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 subsection 3.6 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Final Maturity Date and provided, further, that if the Company HCC shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Borrower may elect ----------------------------------- from time to time to convert Eurodollar Revolving Credit Loans to ABR Base Rate Loans, by giving the Administrative Agent at least three one Business Days' Day's prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Loans may only be -------- made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Base Rate Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR and Base Rate Loans may be converted as provided herein; , provided that --------
(i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is then continuing and the Administrative Agent has or the Required Lenders have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date. All notices given by Borrower under this subsection 2.7 may be made by telephonic notice promptly confirmed in writing.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit -------- Loan may be continued as such (i) when any Default or Event of Default has occurred and is then continuing and the Administrative Agent has or the Required Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and provided, further, that if -------- ------- the Company Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving the Administrative Agent at least three one Business Days' Day's prior irrevocable notice of such election; provided , PROVIDED that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each affected Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Loans may be converted as provided herein; provided , PROVIDED that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; provided PROVIDED that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and providedPROVIDED, furtherFURTHER, that if the Company Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Sources: Revolving Credit Agreement (Aftermarket Technology Corp)
Conversion and Continuation Options. (a) The Company may elect from time to time to convert Eurodollar Revolving Credit Loans that are Eurodollar Loans to ABR Loans, by giving the Administrative Agent at least three two Business Days' ’ prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' ’ prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender Bank thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders Majority Banks have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 subsection 2.8 shall not have been contravened and contravened, (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Termination Date and (iv) no Revolving Credit Termination DateLoan denominated in a Foreign Currency may be converted to an ABR Loan.
(b) Any Eurodollar Revolving Credit Loans that are Eurodollar Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "“Interest Period" ” set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders Majority Banks have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 subsection 2.8 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and provided, further, that if the Company shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any such notice referred to above, the Administrative Agent shall promptly notify the Lenders each Bank thereof. For purposes of this subsection, any reference to an ABR Loan shall be deemed to exclude any Swing Line Loan.
Appears in 1 contract
Sources: Credit Agreement (First Data Corp)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving the Administrative Agent at least three one Business Days' Day's prior irrevocable notice of such election; provided , PROVIDED that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each affected Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Loans may be converted as provided herein; provided , PROVIDED that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Termination Date (in the case of conversions of Revolving Credit Termination DateLoans) or the date of the final installment of principal of the Term Loans.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; provided PROVIDED that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to to, respectively, the Termination Date (in the case of continuations of Revolving Credit Termination Date Loans) or the date of the final installment of principal of the Term Loans and providedPROVIDED, furtherFURTHER, that if the Company Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, by giving the Administrative Agent at least three one Business Days' Day's prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Majority Lenders have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Termination Date (in the case of Revolving Credit Termination DateLoans) or the date of the final installment of principal of the Term Loans (in the case of Term Loans).
(b) Any Eurodollar Revolving Credit Loans Loan may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Majority Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Termination Date (in the case of Revolving Credit Termination Date Loans) or the date of the final installment of principal of the Term Loans (in the case of Term Loans) and provided, further, that if the Company Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by the Borrower giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by the Borrower giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Majority Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Termination Date (in the case of conversions of Revolving Credit Termination DateLoans or Term Loans) and (iii) no Swing Line Loan may be converted into a Eurodollar Loan.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Majority Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Termination Date (in the case of continuations of Revolving Credit Termination Date Loans or Term Loans) and provided, further, that if the Company Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month or 30 days, respectively, prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month or 30 days prior to the Revolving Credit Termination Date (in the case of continuations of Loans) and provided, further, that if the Company Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit LIBOR Loans to ABR Loans, Reference Rate Loans by the Borrower giving the Administrative Agent Lender at least three two Business Days' prior irrevocable written notice of such election; provided election pursuant to a Continuation Notice, PROVIDED that any such conversion of Eurodollar LIBOR Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Reference Rate Loans to Eurodollar Revolving Credit LIBOR Loans by the Borrower giving the Administrative Agent Lender at least three Eurodollar Business Days' prior irrevocable written notice of such electionelection pursuant to a Continuation Notice. Any such notice of conversion to Eurodollar Revolving Credit LIBOR Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit LIBOR Loans or ABR and Reference Rate Loans may be converted as provided herein; provided , PROVIDED that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 2.4 shall not have been contravened and contravened, (iiiii) no such Loan may be converted into a Eurodollar Revolving Credit LIBOR Loan after the date that is one month prior to the end of the Revolving Credit Termination DatePeriod and (iii) the Borrower shall not have the right to elect to continue at the end of the applicable Interest Period, or to convert to, a LIBOR Loan if a Default shall have occurred and be continuing.
(b) Any Eurodollar Revolving Credit Loans LIBOR Loan may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving at least three Eurodollar Business Days' prior irrevocable written notice to the Administrative AgentLender, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; provided LIBOR Loan, PROVIDED that no Eurodollar Revolving Credit LIBOR Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 2.4 would be contravened or contravened, (iiiii) after the date that is one month prior to the end of the Revolving Credit Termination Date Period or (iii) if a Default shall have occurred and providedbe continuing and PROVIDED, furtherFURTHER, that if the Company Borrower shall fail to give any required notice as described above in this paragraph Section or if such continuation is not permitted pursuant to the preceding proviso proviso, such Loans shall be automatically converted to ABR Reference Rate Loans on the last day of such then then-expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Sources: Revolving Credit Agreement (Phoenix International Life Sciences Inc)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans Borrowings to ABR Loans, Floating Borrowings by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; provided , PROVIDED that any such conversion of Eurodollar Loans may Borrowings shall only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans Floating Rate Borrowings to Eurodollar Revolving Credit Loans Borrowings by giving the Administrative Agent at least three two (2) Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR Loans Borrowings and Floating Rate Borrowings may be converted as provided herein; provided , PROVIDED that (i) no Loan Advance may be converted into a Eurodollar Revolving Credit Loan Borrowing when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriatecontinuing, (ii) partial conversions shall be in an aggregate principal amount of (A) in the case of any conversion of Floating Rate Borrowings, $10,000 or a whole multiple of $10,000 in excess thereof and (B) in the case of any conversion of Eurodollar Borrowings, at least $10,000, (iii) any such conversion may only be made if, after giving effect thereto, Section 2.10 SUBSECTION 2.8(C) shall not have been contravened and (iiiiv) no Loan Advance may be converted into to a Eurodollar Revolving Credit Loan Borrowing after the date that is one (1) month prior to the Revolving Credit Termination Date.
(ba) Any Eurodollar Revolving Credit Loans Borrowing may be continued as such upon the expiration of the then current an Interest Period with respect thereto by compliance by the Company giving notice to the Administrative Agent, in accordance Borrower with the applicable notice provisions of the term "Interest Period" set forth contained in Section 1.1, of the length of the next Interest Period to be applicable to such Loans2.5; provided PROVIDED that no Eurodollar Revolving Credit Loan Borrowing may be continued as such (i) when any Default or Event of Default has occurred and is continuing continuing, but shall be automatically converted to a Floating Rate Borrowing on the last day of the Interest Period, in effect for such Advance, during which such Default or Event of Default occurs; and PROVIDED, FURTHER, that if the Administrative Agent or Borrower shall not have complied with such notice provisions, the Required Lenders Borrower shall be deemed irrevocably to have determined requested that such Eurodollar Borrowing be converted to a continuation is not appropriateFloating Rate Borrowing on the last day of such Interest Period.
(b) Any borrowings, (ii) ifconversions, payments and prepayments hereunder shall be in such amounts and be made pursuant to such elections so that, after giving effect thereto, Section 2.10 would the unpaid principal amount of Eurodollar Borrowings shall not be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and provided, further, that if the Company shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereofless than $100,000.
Appears in 1 contract
Sources: Loan Agreement (Geoscience Corp)
Conversion and Continuation Options. (a) The Company may elect ----------------------------------- from time to time to convert Eurodollar Revolving Credit Loans (other than Swingline Loans) to ABR Loans, Index Rate Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election; election on the day such conversion is requested, provided that any such conversion of -------- Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company may elect from time to time to convert ABR Index Rate Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR and Index Rate Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event -------- of Default has occurred and is continuing and the Administrative Agent has or the Required Majority Facility Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date, the Tranche A Maturity Date or the Tranche B Maturity Date, as applicable.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit Loan -------- may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Majority Facility Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date, the Tranche A Maturity Date or the Tranche B Maturity Date, as applicable, and provided, further, that -------- ------- if the Company shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Index Rate Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Sources: Credit Agreement (Pameco Corp)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving the Administrative Agent an irrevocable notice substantially in the form of Exhibit J (a "Notice of Conversion/Continuation"), by 11:00 A.M. New York, New York time at least three one Business Days' Day prior irrevocable notice of to such election; , provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans or to continue Eurodollar Loans as Eurodollar Loans by giving the Administrative Agent a Notice of Conversion/Continuation by 11:00 A.M. New York, New York time at least three Business Days' prior irrevocable notice of to such election. Any such notice Notice of conversion Conversion/Continuation to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice Notice of Conversion/Continuation the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan if the Interest Period selected therefor would expire after the date that is one month prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving irrevocable notice to the Administrative Agent, of the length of the next Interest Period to be applicable to such Loans, determined in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date Date, and provided, further, that if the Company Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any such notice referred of continuation pursuant to abovethis Section 4.5(b), the Administrative Agent shall promptly notify the Lenders each Lender thereof.
Appears in 1 contract
Sources: Credit Agreement (Radio One Inc)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Convert Eurodollar Revolving Credit Loans or to ABR Loans, Base Rate Loans by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; , provided that any such conversion Conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Convert Base Rate Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion Conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR and Base Rate Loans may be converted Convened as provided herein; , provided that (i) no Loan may be converted Converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a conversion Conversion is not appropriate, (ii) any such conversion Conversion may only be made if, after giving effect thereto, Section 2.10 6.3 shall not have been contravened contravened, and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Termination Date (in the case of Conversions of Revolving Credit Termination DateLoans) or the date of the final installment of principal (in the case of Conversions of Term Loans or Bridge Loans).
(b) Any Eurodollar Revolving Credit Loans may be continued Continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit Loan may be continued Continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a continuation Continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 6.3 would be contravened or (iii) after the date that is one month prior to the Termination Date (in the case of Continuations of Revolving Credit Termination Date Loans) or the date of the final installment of principal (in the case of Continuations of Term Loans or Bridge Loans) and provided, further, that if the Company Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation Continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving the Administrative Agent at least three one Business Days' Day's prior irrevocable notice of such election; , provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a conversion is not appropriate, Amended and Restated Credit Agreement 26 appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and provided, further, that if the Company Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving the Administrative Agent each Lender at least three two Business Days' prior irrevocable telephonic notice of such election; election (which must be promptly confirmed in writing), provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent each Lender at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Date.
(b) Any Eurodollar Revolving Credit Loans Loan may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agenteach Lender, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; Eurodollar Loan, provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and provided, further, that if the Company Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit LIBOR Loans to ABR Loans, Prime Rate Loans by giving the Administrative Agent Lender at least three one (1) Business Days' Day's prior irrevocable notice of such election; , provided that any such conversion of Eurodollar LIBOR Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company Borrower pays to the Administrative Agent for the account of the Lenders Lender accrued interest on such Eurodollar LIBOR Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17under subsection 2.16). The Company Borrower may elect from time to time to convert ABR Prime Rate Loans to Eurodollar Revolving Credit LIBOR Loans by giving the Administrative Agent Lender at least three (3) Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit LIBOR Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit LIBOR Loans or ABR and Prime Rate Loans may be converted as provided herein; provided PROVIDED, HOWEVER, that (i) no Loan may be converted into a Eurodollar Revolving Credit LIBOR Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have Lender has determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit LIBOR Loan after the date that is one month prior to the Revolving Credit Termination Maturity Date.
(b) Any Eurodollar Revolving Credit LIBOR Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative AgentLender, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1APPENDIX A, of the length of the next Interest Period to be applicable to such Loans; provided PROVIDED, HOWEVER, that no Eurodollar Revolving Credit LIBOR Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have Lender has determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date maturity of the Loan; and provided, further, PROVIDED FURTHER that if the Company Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso permitted, such Loans shall be automatically converted to ABR Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert any Eurodollar Revolving Credit Loans to ABR Loans, by giving the Administrative Agent at least three one Business Days' Day’s prior irrevocable notice of such election; provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' ’ prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereofLender. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR Loans may be converted as provided herein; provided that Notwithstanding the foregoing, (i) no ABR Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Majority Lenders have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no ABR Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Maturity Date.
(b) Any Eurodollar Revolving Credit Loans Loan may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "“Interest Period" ” set forth in Section 1.11.01, of specifying the length of the next Interest Period to be applicable to such LoansLoan; provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Majority Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and Maturity Date; provided, further, that if the Company shall fail to give any required notice as described above in this paragraph or (A) if such continuation is not permitted pursuant to the preceding proviso proviso, such Loans Eurodollar Loan shall be automatically converted to an ABR Loans Loan on the last day of such the then expiring Interest Period. Upon receipt of Period and (B) if the Borrower shall fail to give any notice referred required by this paragraph, such Eurodollar Loan shall, subject to aboveclause (A), automatically continue as a Eurodollar Loan having a new Interest Period of the Administrative Agent shall promptly notify same duration as the Lenders thereofInterest Period then expired.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Borrower may elect ----------------------------------- from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving delivering to the Administrative Agent an irrevocable Notice of Borrowing by 10:00 A.M., New York City time, at least three one Business Days' Day prior irrevocable notice to the requested date of such electionconversion; provided that any such conversion of Eurodollar Loans may only be made on the -------- last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving delivering to the Administrative Agent an irrevocable Notice of Borrowing by 10:00 A.M., New York City time, at least three Business Days' prior irrevocable notice of such electionto the requested conversion date. Any such notice Notice of Borrowing with respect to a conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice Notice of Borrowing, the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Loans may be converted as provided herein; , provided that (i) no Loan may be converted -------- into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Majority Term Lenders have determined that such a conversion is not appropriateappropriate and the Administrative Agent has given notice to the Borrower that no conversion may be made, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Revolving Credit Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination DateDate and (iii) no Tranche A Loan or Tranche B Loan (as the case may be) may be converted into a Eurodollar Loan after the date that is one month prior to the date of the final installment of principal thereof. Notwithstanding anything to the contrary contained herein, Swing Line Loans shall at all times be maintained as ABR Loans and shall not be converted to Eurodollar Loans hereunder.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company giving notice Borrower delivering to the Administrative AgentAgent an irrevocable Notice of Borrowing, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of setting forth (among other things) the length of the next Interest Period to be applicable to such Loans; , provided that (i) no Eurodollar Revolving Credit Loan -------- may be continued as such (i) a Eurodollar Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Majority Basic Lenders have determined that such a continuation is not appropriateappropriate and the Administrative Agent has given notice to the Borrower that no such continuations may be made, (ii) if, after giving effect thereto, Section 2.10 would no Revolving Credit Loan may be contravened or (iii) continued as a Eurodollar Loan after the date that is one month prior to the Revolving Credit Termination Date and (iii) no Term Loan may be continued as a Eurodollar Loan after the date that is one month prior to the date of the final installment of principal of such Term Loan and provided, further, that if the Company Borrower shall fail to give any required such notice as described above in this paragraph or if -------- ------- such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to abovesuch Notice of Borrowing, the Administrative Agent shall promptly notify the Lenders each Lender thereof.
Appears in 1 contract
Sources: Credit Agreement (Dynatech Corp)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit outstanding Loans of a given Tranche from SOFR Loans to ABR Loans, Loans by the Borrower giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election prior to 1:00 P.M., New York City time two Business Days prior to such election; provided that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17). The Company Borrower may elect from time to time to convert outstanding Term Loans of a given Tranche from ABR Loans to Eurodollar Revolving Credit SOFR Loans by the Borrower giving the Administrative Agent irrevocable notice of such election prior to 1:00 P.M., New York City time at least three Business Days' Day prior irrevocable notice of to such election. Any such notice of conversion to Eurodollar Revolving Credit SOFR Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each affected Lender thereof. All or any part of outstanding Eurodollar Revolving Credit SOFR Loans or ABR Loans may be converted as provided herein; , provided that (i) (unless the Required Lenders otherwise consent) no Loan may be converted into a Eurodollar Revolving Credit SOFR Loan when any Default or Event of Default has occurred and is continuing and and, in the case of any Default (other than a Default under Section 9.1(f)), the Administrative Agent or has given notice to the Required Lenders have determined Borrower that no such a conversion is not appropriate, conversions may be made and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Term Loan may be converted into a Eurodollar Revolving Credit SOFR Loan after the date that is one month prior to the Revolving Credit Termination DateInitial Term Loan Maturity Date (in the case of Initial Term Loans), the Tranche B Term Loan Maturity Date (in the case of Tranche B Term Loans), the Tranche C Term Loan Maturity Date (in the case of Tranche C Term Loans), the Tranche D Term Loan Maturity Date (in the case of Tranche D Term Loans), the Tranche E Term Loan Maturity Date (in the case of Tranche E Term Loans), the Tranche F Term Loan Maturity Date (in the case of Tranche F Term Loans), the Tranche G Term Loan Maturity Date (in the case of Tranche G Term Loans) or, the Tranche H Term Loan Maturity Date (in the case of Tranche H Term Loans) or the Tranche I Term Loan Maturity Date (in the case of Tranche I Term Loans).
(b) Any Eurodollar Revolving Credit Loans SOFR Loan may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative AgentAgent irrevocable notice of such continuation prior to 1:00 P.M., in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1New York City time three Business Days prior to such continuation, of including the length of the next Interest Period to be applicable to such Loans; SOFR Loan, determined in accordance with the applicable provisions of the term “Interest Period” set forth in Section 1.1, provided that no Eurodollar Revolving Credit SOFR Loan may be continued as such (i) (unless the Required Lenders otherwise consent) when any Default or Event of Default has occurred and is continuing and and, in the case of any Default (other than a Default under Section 9.1(f)), the Administrative Agent has given notice to the Borrower that no such continuations may be made or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date applicable Maturity Date, and provided, further, that if the Company Borrower shall fail to give any required notice as described above in this paragraph clause (b) or if such continuation is not permitted pursuant to the preceding proviso such SOFR Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any such notice referred of continuation pursuant to abovethis Section 4.2(b), the Administrative Agent shall promptly notify the Lenders each affected Lender thereof.
Appears in 1 contract
Sources: Incremental Commitment Amendment (Warner Music Group Corp.)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans and Eurodollar Term Loans to ABR Loans, Loans by giving the Administrative Agent at least three one Business Days' Day’s prior irrevocable notice of such election; provided that any such conversion of Eurodollar Revolving Credit Loans or Eurodollar Term Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans or Eurodollar Term Loans, as applicable, by giving the Administrative Agent at least three Business Days' ’ prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans or Eurodollar Term Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans, Eurodollar Term Loans or and ABR Loans may be converted as provided herein; provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan or Eurodollar Term Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriatecontinuing, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Five-Year Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit 2020 Extended Termination Date and (iii) no Term Loan or New Term Loan may be converted into a Eurodollar Term Loan after the date that is one month prior to the 2020 Extended Termination Date.
(b) Any Eurodollar Revolving Credit Loans and Eurodollar Term Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "“Interest Period" ” set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; provided that no Eurodollar Revolving Credit Loan or Eurodollar Term Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit 2020 Extended Termination Date Date; and provided, further, that if the Company Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Eurodollar Revolving Credit Loans or Eurodollar Term Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Sources: Competitive Advance and Revolving Credit Agreement (Tegna Inc)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Convert Eurodollar Revolving Credit Loans to ABR Base Rate Loans, by giving the Administrative Agent at least three two Business Days' prior irrevocable notice of such election; , provided that any such conversion Conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Convert Base Rate Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion Conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit Loans or ABR and Base Rate Loans may be converted Converted as provided herein; , provided that (i) no Loan may be converted Converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a conversion Conversion is not appropriate, (ii) any such conversion Conversion may only be made if, after giving effect thereto, Section 2.10 6.3 shall not have been contravened contravened, and (iii) no Loan may be converted Converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination DateDate (in the case of Conversions of Revolving Credit Loans) or the date of the final installment of principal (in the case of Conversions of Term Loans and Acquisition Loans).
(b) Any Eurodollar Revolving Credit Loans Loan may be continued Continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; , provided that no Eurodollar Revolving Credit Loan may be continued Continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent has or the Required Lenders have determined that such a continuation Continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 6.3 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date (in the case of Continuations of Revolving Credit Loans) or the date of the final installment of principal (in the case of Continuations of Term Loans and Acquisition Loans) and provided, further, that if the Company Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation Continuation is not permitted pursuant to the preceding proviso this Section 6.2, such Loans shall be automatically converted to ABR Base Rate Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Sources: Credit Agreement (Unidigital Inc)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit Loans to ABR Loans, Loans by giving the Administrative Agent Facility Manager at least three one Business Days' Day's prior irrevocable notice of such election; provided , PROVIDED that any such conversion of Eurodollar Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent Facility Manager at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent Facility Manager shall promptly notify each Lender thereofLender. All or any part of outstanding Eurodollar Revolving Credit Loans or and ABR Loans may be converted as provided herein; provided , PROVIDED that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent Facility Manager has or the Required Lenders have determined that such a conversion is not appropriate, appropriate and (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Datedate of the final payment of Loans.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative AgentFacility Manager, in accordance with the applicable provisions of the term "Interest Period" set forth in Section subsection 1.1, of the length of the next Interest Period to be applicable to such Loans; provided , PROVIDED that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent Facility Manager has or the Required Lenders have determined that such a continuation is not appropriate, appropriate or (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date date of the final payment of principal of Loans and providedPROVIDED, further, FURTHER that if the Company Borrower shall fail to give any required such notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company may elect from time Borrower may, upon irrevocable written notice to time to convert Eurodollar Revolving Credit Loans to ABR Loans, by giving the Administrative Agent at least three in accordance with this SECTION 2.10 (i) elect, as of any Business Days' prior irrevocable notice Day, in the case of such election; provided that any such conversion Alternate Base Rate Loans, or as of Eurodollar Loans may only be made on the last day of the applicable Interest Period, in the case of any other Type of Loans, to convert any such Loans (or any part thereof in an amount not less than $1,000,000, or that is an integral multiple of $100,000 in excess thereof) into Loans of any other Type; or (ii) elect, as of the last day of the applicable Interest Period, to continue any Loans having Interest Periods expiring on such day (or any part thereof in an amount not less than $1,000,000, or that is in an integral multiple of $100,000 in excess thereof.
(b) The Borrower shall deliver a written notice, substantially in the form of EXHIBIT C-2 (a "NOTICE OF CONVERSION/CONTINUATION") to be received by the Administrative Agent not later than 11:00 a.m. (New York City time) at least (i) three Business Days in advance of the Conversion/ Continuation Date, if the Loans are to be converted from or into or continued as Eurodollar Rate Loans; and (ii) on the Conversion/Continuation Date, if the Loans are to be converted into Alternate Base Rate Loans.
(c) If upon the expiration of any Interest Period with respect thereto (applicable to Eurodollar Rate Loans made to the Borrower, the Borrower has failed to select timely a new Interest Period to be applicable to such Loans, or on if any other day if on Default or Event of Default then exists, the Borrower shall be deemed to have elected to convert such Eurodollar Rate Loans into Alternate Base Rate Loans effective as of the expiration date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17). The Company may elect from time to time to convert ABR Loans to Eurodollar Revolving Credit Loans by giving the Administrative Agent at least three Business Days' prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Revolving Credit Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Period.
(d) Upon receipt of any such notice Notice of Conversion/Continuation, the Administrative Agent shall promptly notify each Lender thereof. All or any part of the outstanding Eurodollar Revolving Credit Loans or ABR and Alternate Base Rate Loans may be converted or continued as provided herein; provided PROVIDED that (i) no Loan may be converted into into, or continued as, a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Loan may be converted into into, or continued as, a Eurodollar Revolving Credit Loan after the date that is one month prior to the Revolving Credit Termination Maturity Date.
(b) Any Eurodollar Revolving Credit Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; provided that no Eurodollar Revolving Credit Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to the Revolving Credit Termination Date and provided, further, that if the Company shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Term Benchmark Revolving Credit Loans and Term Benchmark Term Loans to ABR Loans, Loans by giving the Administrative Agent at least three one Business Days' Day’s prior irrevocable notice of such election; provided that any such conversion of Eurodollar Term Benchmark Revolving Credit Loans or Term Benchmark Term Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans to Eurodollar Term Benchmark Revolving Credit Loans or Term Benchmark Term Loans, as applicable, by giving the Administrative Agent at least three Business Days' ’ prior irrevocable notice of such election. Any such notice of conversion to Eurodollar Term Benchmark Revolving Credit Loans or Term Benchmark Term Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof. All or any part of outstanding Eurodollar Term Benchmark Revolving Credit Loans, Term Benchmark Term Loans or and ABR Loans may be converted as provided herein; provided that (i) no Loan may be converted into a Eurodollar Term Benchmark Revolving Credit Loan or Term Benchmark Term Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriatecontinuing, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 shall not have been contravened and (iii) no Five-Year Loan may be converted into a Eurodollar Term Benchmark Revolving Credit Loan after the date that is one month prior to the Revolving Credit 2024 Extended Termination Date, (iii) no Term Loan or New Term Loan may be converted into a Term Benchmark Term Loan after the date that is one month prior to the 2020 ExtendedFive-Year Termination Date and (iviii) no New Term IIIIncremental Loan may be converted into a Term Benchmark Term Loan after the date that is one month prior to the New Term III Terminationapplicable Incremental Facility Maturity Date.
(b) Any Eurodollar Term Benchmark Revolving Credit Loans and Term Benchmark Term Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "“Interest Period" ” set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; provided that no Eurodollar Term Benchmark Revolving Credit Loan or Term Benchmark Term Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 would be contravened or (iii) after the date that is one month prior to (A) the Revolving Credit 2018 Extended Terminationapplicable Incremental Facility Maturity Date, in the case of Term Loans, (B) the 2020 Extended Termination Date Date, in the case of New Term Loans, (C) the New Term III Termination Date, in the case of New Term III Loans or (D) the 2024 ExtendedIncremental Loans or (B) the Five-Year Termination Date, in the case of Five-Year Loans; and provided, further, that if the Company Borrower shall fail to give any required notice as described above in this paragraph or if such continuation is not permitted pursuant to the preceding proviso such Term Benchmark Revolving Credit Loans or Term Benchmark Term Loans shall be automatically converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Sources: Competitive Advance and Revolving Credit Agreement (Tegna Inc)
Conversion and Continuation Options. (a) The Company Borrower may elect from time to time to convert Eurodollar Revolving Credit LIBOR Loans (other than Alternate Currency Loans) to ABR Loans, by the Borrower giving the Administrative Agent at least three two Business Days' prior irrevocable written notice of such election; election pursuant to a Continuation Notice, provided that any such conversion of Eurodollar LIBOR Loans may only be made on the last day of an Interest Period with respect thereto (or on any other day if on the date of such conversion the Company pays to the Administrative Agent for the account of the Lenders accrued interest on such Eurodollar Loans to the date of such conversion together with all amounts payable pursuant to Section 2.17)thereto. The Company Borrower may elect from time to time to convert ABR Loans (other than Swing Line Loans, Protective Advances and Overadvances) to Eurodollar Revolving Credit LIBOR Loans by giving the Administrative Agent at least three Eurodollar Business Days' prior irrevocable written notice of such electionelection pursuant to a Continuation Notice. Any such notice of conversion to Eurodollar Revolving Credit LIBOR Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. All or any part of outstanding Eurodollar Revolving Credit LIBOR Loans or and ABR Loans may be converted as provided herein; , provided that (i) no Loan may be converted into a Eurodollar Revolving Credit Loan when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a conversion is not appropriate, (ii) any such conversion may only be made if, after giving effect thereto, Section 2.10 2.6 shall not have been contravened and contravened, (iiiii) no Loan may be converted into a Eurodollar Revolving Credit LIBOR Loan after the date that is one month prior to the Revolving Credit Termination Loan Commitment Expiration Date, (iii) the Borrower shall not have the right to elect to convert to a LIBOR Loan if a Default shall have occurred and be continuing, (iv) subject to Section 2.9, no Alternate Currency Loan may be converted to an ABR Loan and (v) no Protective Advance or Overadvance may be converted to a LIBOR Loan.
(b) Any Eurodollar Revolving Credit Loans LIBOR Loan may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Company Borrower giving notice to the Administrative Agent, in accordance with the applicable provisions of the term "Interest Period" set forth in Section 1.1, of the length of the next Interest Period to be applicable to such LoansLIBOR Loan; provided provided, however, that no Eurodollar Revolving Credit LIBOR Loan may be continued as such (i) when any Default or Event of Default has occurred and is continuing and the Administrative Agent or the Required Lenders have determined that such a continuation is not appropriate, (ii) if, after giving effect thereto, Section 2.10 2.6 would be contravened or contravened, (iiiii) after the date that is one month prior to the Revolving Credit Termination Loan Commitment Expiration Date or (iii) if a Default shall have occurred and be continuing; and further, provided, furtherhowever, that that, if the Company Borrower shall fail to give any required notice as described above in this paragraph Section or if such continuation is not permitted pursuant to the preceding proviso proviso, such Loans LIBOR Loan shall be automatically converted to an ABR Loans Loan on the last day of such then expiring Interest Period. Upon receipt of any notice referred to above, the Administrative Agent shall promptly notify the Lenders thereof.
Appears in 1 contract
Sources: Credit Agreement (Quiksilver Inc)