Conversion/Continuation Option. (a) The Borrower may elect (i) on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion. (b) Each such election shall be in substantially the form of Exhibit F hereto (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (i) the amount and type of Loan being converted or continued, (ii) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, and (iii) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein. (c) Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14. (d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert any such Loan, then, upon the expiration of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan. (e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 4 contracts
Sources: Credit Agreement (Warnaco Group Inc /De/), Credit Agreement (Warnaco Group Inc /De/), Credit Agreement (Warnaco Group Inc /De/)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, (A) to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or (B) to continue such Eurodollar Rate Loans Loans, or any portion thereof thereof, for an additional Interest Period; provided, however, that (i) the aggregate amount of the Eurodollar Base Rate Loans for each Interest Period must be in the amount of at least $10,000,000 500,000 or an integral multiple of $100,000 in excess thereof and (ii) the aggregate amount of the Eurodollar Rate Loans for each Interest Period must be in the amount of at least $1,000,000 or an integral multiple of $500,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each applicable Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert would violate any such Loan, then, upon the expiration provision of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
Section 2.14 (e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 4 contracts
Sources: Credit Agreement (Amc Entertainment Holdings, Inc.), Credit Agreement (Amc Entertainment Inc), Credit Agreement (Amc Entertainment Holdings, Inc.)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of at least $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least (x) three (3) Business Days’ prior written notice specifying in the case of a conversion to, or continuation of, Eurodollar Rate Loans or (iy) one Business Day’s prior written notice in the case of a conversion to Base Rate Loans, each such notice specifying, as applicable, (A) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to to, or a continuation of of, Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert would violate any such Loan, then, upon the expiration provision of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
Section 2.14 (e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 4 contracts
Sources: Credit Agreement (Knology Inc), Credit Agreement (Knology Inc), Credit Agreement (Knology Inc)
Conversion/Continuation Option. (a) The Borrower may elect (i) on any Business Day to convert Base Prime Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar BA Rate Loans, or (ii) at the end of any applicable Interest Period, to convert Eurodollar BA Rate Loans or any portion thereof into Base Prime Rate Loans or to continue such Eurodollar BA Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar BA Rate Loans for each Interest Period must be in the amount of $10,000,000 3,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) Each such election shall be in substantially the form of Exhibit F hereto (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (i) the amount and type of Loan being converted or continued, (ii) in the case of a conversion to or a continuation of Eurodollar BA Rate Loans, the applicable Interest Period, and (iii) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar BA Rate Loans, shall also be the last day of the applicable Interest Period). The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) Notwithstanding the foregoing, no conversion in whole or in part of Base Prime Rate Loans to Eurodollar BA Rate Loans, and no continuation in whole or in part of Eurodollar BA Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar BA Rate Loan for an additional Interest Period or to convert any such Loan, then, upon the expiration of the applicable Interest Period, such Loan will be automatically converted to a Base Prime Rate Loan.
(e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 4 contracts
Sources: Credit Agreement (Warnaco Group Inc /De/), Credit Agreement (Warnaco Group Inc /De/), Credit Agreement (Warnaco Group Inc /De/)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day Day, to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Eurocurrency Rate Loans, or and (ii) at the end of any applicable Interest Period, to convert Eurodollar Eurocurrency Rate Loans or any portion thereof into Base Rate Loans Loans, or to continue such Eurodollar Eurocurrency Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Eurocurrency Rate Loans for each Interest Period must be in the amount of at least $10,000,000 500,000 or an integral multiple of $1,000,000 100,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the applicable Term Loans and/or Revolving Loans which are the subject of such Notice of Conversion or Continuation, (B) the amount and type Type of Loan being converted or continued, (iiC) in the case of a conversion to or a continuation of Eurodollar Eurocurrency Rate Loans, the applicable Interest Period, Period and (iiiD) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Appropriate Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, the Administrative Agent or the Requisite Lenders may require by notice to the Borrower that no conversion in whole or in part of Base Rate Loans to Eurodollar Eurocurrency Rate Loans, and no continuation in whole or in part of Eurodollar Eurocurrency Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, a Eurocurrency Rate Loan would violate any of the provisions provision of Section 2.14.
(d) . If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 3 contracts
Sources: Credit Agreement (BJ's Wholesale Club Holdings, Inc.), Credit Agreement (BJ's Wholesale Club Holdings, Inc.), Credit Agreement (BJ's Wholesale Club Holdings, Inc.)
Conversion/Continuation Option. (a) The Each Borrower may elect (i) (A) at any time on any Business Day to convert Base Rate Loans (other than Swing Swingline Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (iiB) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of at least $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof, and (ii) (A) at any time on any Business Day to convert Swingline Loans that are Base Rate Loans or any portion thereof to LMIR Loans and (B) to convert LMIR Rate Loans or any portion thereof into Base Rate Loans; provided, however, that the aggregate amount of the LMIR Loans must be in the amount of at least $100,000 or an integral multiple of $100,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Notice of Conversion or Continuation”) and shall be made by the Parent Borrower giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iw) whether the Parent Borrower is requesting such conversion or continuation on behalf of itself or for another Borrower (and if on behalf of another Borrower, the identity of such Borrower), (x) the amount and type of Loan being converted or continued, (iiy) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiz) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans or LMIR Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted permitted, and all LMIR Loans shall be converted into Base Rate Loans, at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, a Eurodollar Rate Loan would violate any provision of the provisions of Section 2.14.
2.13 (d) Special Provisions Governing Eurodollar Rate Loans). If, within the time period required under the terms of this Section 2.112.10, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Parent Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 3 contracts
Sources: Revolving Credit Agreement, Revolving Credit Agreement (Boardwalk Pipeline Partners, LP), Revolving Credit Agreement (Boardwalk Pipeline Partners, LP)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day Day, to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of at least $10,000,000 1,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Revolving Credit Lender in accordance with such Revolving Credit Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify give to each Lender a notice by not later than 2:00 p.m. (New York time) on the date a Notice of its Conversion or Continuation has been delivered to the Administrative Agent pursuant to Section 2.11(a) above of the Administrative Agent’s receipt of a such Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, (i) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans having an Interest Period of longer than one month shall be permitted at any time prior to the Syndication Completion Date and (ii) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert would violate any such Loan, then, upon the expiration provision of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
Section 2.14 (e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 3 contracts
Sources: Credit Agreement (Tenet Healthcare Corp), Credit Agreement (Tenet Healthcare Corp), Credit Agreement (Tenet Healthcare Corp)
Conversion/Continuation Option. (a) The Borrower Seller may elect (i) at any time on any Business Day Day, to convert Capital Investments bearing Yield at the Citicorp Base Rate Loans (other than Swing LoansPurchases and Reimbursement Obligations) or any portion thereof to Eurodollar Capital Investments bearing Yield at the Citicorp LIBO Rate Loans, or and (ii) at the end of any applicable Interest Yield Period, to convert Eurodollar Capital Investments bearing Yield at the Citicorp LIBO Rate Loans or any portion thereof into Capital Investments bearing Yield at the Citicorp Base Rate Loans or to continue such Eurodollar Capital Investments bearing Yield at the Citicorp LIBO Rate Loans or any portion thereof for an additional Interest Yield Period; provided, however, that the aggregate amount of the Eurodollar Loans Capital Investments bearing Yield at the Citicorp LIBO Rate for each Interest Yield Period must be in the an amount of at least $10,000,000 or an integral multiple of $1,000,000 2,500,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans Capital Investments of each Lender Purchaser in accordance with such LenderPurchaser’s Ratable Portion.
(b) Receivable Interest. Each such election shall be in substantially the form of Exhibit F hereto I (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) 3 Business Days’ prior written notice specifying (iA) the amount and type of Loan Capital Investment being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate LoansCapital Investments bearing Yield at the Citicorp LIBO Rate, the applicable Interest Period, Yield Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender Purchaser of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Capital Investments bearing Yield at the Citicorp Base Rate Loans to Eurodollar Capital Investments bearing Yield at the Citicorp LIBO Rate Loans, and no continuation in whole or in part of Eurodollar Capital Investments bearing Yield at the Citicorp LIBO Rate Loans upon the expiration of any applicable Interest Period, Yield Period shall be permitted at any time at which (Ai) a Default Potential Event of Termination or an Event of Default Termination shall have occurred and be continuing or (Bii) the continuation of, or conversion into, a Capital Investment bearing Yield at the Citicorp LIBO Rate would violate any of the provisions provision of Section 2.14.
(d) 2.12. If, within the time period required under the terms of this Section 2.112.16, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower Seller containing a permitted election to continue any Loan that is a Eurodollar Capital Investments bearing Yield at the Citicorp LIBO Rate Loan for an additional Interest Yield Period or to convert any such LoanCapital Investments, then, upon the expiration of the applicable Interest Yield Period, such Loan will Capital Investments shall be automatically converted to a Capital Investments bearing Yield at the Citicorp Base Rate Loan.
(e) Rate. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 3 contracts
Sources: Receivables Purchase Agreement (Polyone Corp), Receivables Purchase Agreement (Polyone Corp), Receivables Purchase Agreement (Polyone Corp)
Conversion/Continuation Option. (a) The Borrower Seller may elect (i) at any time on any Business Day Day, to convert Capital Investments bearing Yield at the Applicable Base Rate Loans (other than Swing LoansPurchases) or any portion thereof to Eurodollar Capital Investments bearing Yield at the Applicable LIBO Rate Loans, or and (ii) at the end of any applicable Interest Yield Period, to convert Eurodollar Capital Investments bearing Yield at the Applicable LIBO Rate Loans or any portion thereof into Capital Investments bearing Yield at the Applicable Base Rate Loans or to continue such Eurodollar Capital Investments bearing Yield at the Applicable LIBO Rate Loans or any portion thereof for an additional Interest Yield Period; provided, however, that the aggregate amount of the Eurodollar Loans Capital Investments bearing Yield at the Applicable LIBO Rate for each Interest Yield Period must be in the an amount of at least $10,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans Capital Investments of each Lender Purchaser in accordance with such LenderPurchaser’s Ratable Portion.
(b) Receivable Interest. Each such election shall be in substantially the form of Exhibit F hereto H (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) 3 Business Days’ prior written notice specifying (iA) the amount and type of Loan Capital Investment being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate LoansCapital Investments bearing Yield at the Applicable LIBO Rate, the applicable Interest Period, Yield Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender Purchaser of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Capital Investments bearing Yield at the Applicable Base Rate Loans to Eurodollar Capital Investments bearing Yield at the Applicable LIBO Rate Loans, and no continuation in whole or in part of Eurodollar Capital Investments bearing Yield at the Applicable LIBO Rate Loans upon the expiration of any applicable Interest Period, Yield Period shall be permitted at any time at which (Ai) a Default Potential Event of Termination or an Event of Default Termination shall have occurred and be continuing or (Bii) the continuation of, or conversion into, a Capital Investment bearing Yield at the Applicable LIBO Rate would violate any of the provisions provision of Section 2.14.
(d) 2.12. If, within the time period required under the terms of this Section 2.112.16, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower Seller containing a permitted election to continue any Loan that is a Eurodollar Capital Investments bearing Yield at the Applicable LIBO Rate Loan for an additional Interest Yield Period or to convert any such LoanCapital Investments, then, upon the expiration of the applicable Interest Yield Period, such Loan will Capital Investments shall, subject to Section 3.2, be automatically converted to continued as Capital Investments bearing Yield at the Applicable LIBO Rate with a Base Rate Loan.
(e) Yield Period of one month. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 3 contracts
Sources: Receivables Purchase Agreement (Lyondell Chemical Co), Receivables Purchase Agreement (Lyondell Chemical Co), Receivables Purchase Agreement (Equistar Chemicals Lp)
Conversion/Continuation Option. (a) The Borrower Borrowers may elect (i) at any time on any Business Day Day, to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Rate Loans for each Interest Period must be in the amount of at least $10,000,000 1,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) two Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert would violate any such Loan, then, upon the expiration provision of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
Section 2.14 (e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 2 contracts
Sources: Credit Agreement (J Crew Group Inc), Credit Agreement (J Crew Group Inc)
Conversion/Continuation Option. (a) The Borrower Borrowers may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Rate Loans for each Interest Period must be in the an amount of $10,000,000 or that is an integral multiple of $1,000,000 in excess thereof1,000,000.00. Each conversion or continuation shall be allocated among the Loans subject to such conversion or continuation of each Applicable Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Notice of Conversion or Continuation”) and shall be made by giving the Applicable Administrative Agent at least three (3) Business Days’ prior written notice specifying specifying, in each case, (iA) the amount and type Type of Loan Loans being converted or continued, (iiB) whether the Loans being converted or continued are Revolving Loans or Term Loans, (C) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiD) in the case of a conversion, the date of conversion conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Applicable Administrative Agent shall promptly notify each Applicable Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at during which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion into, a Eurodollar Rate Loan would violate any of the provisions provision of Section 2.14.
(d) 2.17. If, within the time period required under the terms of this Section 2.112.14, the Applicable Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower Borrowers containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 2 contracts
Sources: Credit Agreement (McDermott International Inc), Credit Agreement (McDermott International Inc)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day Day, to convert Base Rate Loans or Canadian Prime Rate Loans (in each case, other than Swing Loans) or any portion thereof to Eurodollar Eurocurrency Rate Loans or BA Rate Loans, or as applicable, and (ii) at the end of any applicable Interest Period, to convert Eurodollar Eurocurrency Rate Loans or BA Rate Loans or any portion thereof into Base Rate Loans or Canadian Prime Rate Loans, as applicable, or to continue such Eurodollar Eurocurrency Rate Loans or BA Rate Loans, as applicable, or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Eurocurrency Rate Loans or BA Rate Loans for each Interest Period must be in the amount of at least $10,000,000 500,000 or an integral multiple of $1,000,000 100,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three two (32) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Eurocurrency Rate Loans or BA Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, the Administrative Agent or the Requisite Lenders may require by notice to the Borrower that no conversion in whole or in part of Base Rate Loans to Eurodollar or Canadian Prime Rate Loans, as applicable, to Eurocurrency Rate Loans or BA Rate Loans, as applicable, and no continuation in whole or in part of Eurodollar Eurocurrency Rate Loans (other than Eurocurrency Rate Loans denominated in Euros) or BA Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, a Eurocurrency Rate Loan (other than Eurocurrency Rate Loans denominated in Euros) or BA Rate Loans would violate any of the provisions provision of Section 2.14.
; provided that, notwithstanding anything herein to the contrary, during any time at which (dx) an Event of Default shall have occurred and be continuing or (y) the continuation of a Eurocurrency Rate Loan denominated in Euros would violate any provision of Section 2.14, the Administrative Agent or the Requisite Lenders may require by notice to the Borrower that all Eurocurrency Rate Loans denominated in Euros shall convert to, or be continued as, as the case may be, Eurocurrency Rate Loans denominated in Euros with an Interest Period of one (1) month. If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Eurocurrency Rate Loan Loans (other than Eurocurrency Rate Loans denominated in Euros) or BA Rate Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans or Canadian Prime Rate Loans, as applicable. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 2 contracts
Sources: Credit Agreement (Chinos Holdings, Inc.), Credit Agreement (J Crew Group Inc)
Conversion/Continuation Option. (a) The Each Borrower may elect (i) at any time on any Business Day to convert U.S. Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Eurocurrency Rate Loans, Loans or Canadian Base Rate Loans to BA Rate Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Eurocurrency Rate Loans or BA Rate Loans or any portion thereof into the applicable Base Rate Loans or to continue such Eurodollar Eurocurrency Rate Loans or BA Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Eurocurrency Rate Loans or BA Rate Loans, as the case may be, for each Interest Period must be in not less than the amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereofMinimum Currency Threshold. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s 's Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Form of Notice of Conversion or Continuation”) (a "Notice of Conversion or Continuation") and shall be made by giving the Administrative Agent at least three (3) Business Days’ ' prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Eurocurrency Rate Loans or BA Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, (i) Loans denominated in Euros or Sterling may not be converted to Base Rate Loans (except pursuant to Section 2.3(d) (Swing Loans)), (ii) no conversion in whole or in part of Base Rate Loans to Eurodollar Eurocurrency Rate Loans or BA Rate Loans, as applicable, and no continuation in whole or in part of Eurodollar Eurocurrency Rate Loans or BA Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, a Eurocurrency Rate Loan or BA Rate Loans would violate any of the provisions provision of Section 2.14.
2.14 (d) Special Provisions Governing Eurocurrency Rate Loans and BA Rate Loans). If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the applicable Borrower containing a permitted election to continue any Loan that is a Eurodollar Eurocurrency Rate Loan Loans or BA Rate Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans denominated in Dollars and Canadian Dollars shall be automatically converted to a the applicable Base Rate Loan.
(e) Loans and Loans denominated in Euros or Sterling shall be automatically continued as Eurocurrency Rate Loans with an Interest Period of one month. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 2 contracts
Sources: Credit Agreement (Novelis Inc.), Credit Agreement (Novelis Inc.)
Conversion/Continuation Option. (a) The Each applicable Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, (A) to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or (B) to continue such Eurodollar Rate Loans or Peso TIIE Rate Loans, or any portion thereof thereof, for an additional Interest Period; provided, however, that (i) the aggregate amount of the Eurodollar Base Rate Loans for each Interest Period must be in the amount of at least $10,000,000 500,000 or an integral multiple of $100,000 in excess thereof, (ii) the aggregate amount of the Eurodollar Rate Loans for each Interest Period must be in the amount of at least $1,000,000 or an integral multiple of $500,000 in excess thereof and (iii) the aggregate amount of the Peso TIIE Rate Loans for each Interest Period must be in the amount of at least P5,000,000 or an integral multiple of P1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative applicable Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). The Administrative b) Each Agent shall promptly notify each applicable Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert would violate any such Loan, then, upon the expiration provision of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
Section 2.14 (e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 2 contracts
Sources: Credit Agreement (Marquee Holdings Inc.), Credit Agreement (Amc Entertainment Inc)
Conversion/Continuation Option. (a) Swing Advances shall be automatically converted to Base Rate Loans on the Business Day following the date of borrowing thereof.
(b) The Borrower may elect (i) on at any Business Day time to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, (ii) at any time to convert Swing Advances or any portion thereof to Base Rate Loans or Eurodollar Rate Loans, or (iiiii) at the end of any applicable Interest PeriodPeriod with respect thereto, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans Loans, or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Rate Loans for each Interest Period therefor must be in the amount of $10,000,000 5,000,000 or an integral multiple of $1,000,000 500,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender all Lenders in accordance with such Lender’s their Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F C hereto (a “"Notice of Conversion or Continuation”") and shall be made by giving the Administrative Agent at least three (3) Business Days’ ' prior written notice thereof specifying (iA) the amount and type of Loan being converted conversion or continuedcontinuation, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest PeriodPeriod therefor, and (iiiC) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest PeriodPeriod therefor). The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) contents thereof and such Lender's Ratable Portion of the Loans to be converted. Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans or Swing Advances to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest PeriodPeriod therefor, shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) continuing. If, within the time period required under the terms of this Section 2.112.8, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest PeriodPeriod therefor, such Loan Loans will be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Felcor/Lax Holdings Lp), Credit Agreement (Felcor Lodging Trust Inc)
Conversion/Continuation Option. (a) The With respect to each Eurocurrency Loan of any Borrower other than a Dollar Loan, at the end of any Interest Period with respect thereto such Eurocurrency Loan shall be continued as a Eurocurrency Loan for an additional Interest Period selected by such Borrower pursuant to a written notice (an “IP Notice”) delivered to the Agent at least three Business Days prior to the first day of such Interest Period; provided, however, that if such Borrower fails to specify an Interest Period for such Eurocurrency Loan, such Interest Period shall be one month.
(b) With respect to Base Rate Loans and Eurocurrency Loans that are Dollar Loans of any Borrower other than Swing Loans, such Borrower may elect (i) on at any Business Day time to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Eurocurrency Loans, or (ii) and, at the end of any applicable Interest PeriodPeriod with respect thereto, to convert Eurodollar Rate Eurocurrency Loans or any portion thereof into Base Rate Loans Loans, or to continue such Eurodollar Rate Eurocurrency Loans or any portion thereof for an additional Interest Period; provided, howeverby delivering a written notice, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) Each such election shall be in substantially the form of Exhibit F C hereto (a “Notice of Conversion or Continuation”) and shall be made by giving ), to the Administrative Agent at least three (3) Business Days’ Days prior written notice to the proposed date of conversion or continuation specifying (i) the amount and type of Loan being converted conversion or continuedcontinuation, (ii) in the case of a conversion to or a continuation of Eurodollar Rate Eurocurrency Loans, the applicable Interest Period, Period therefor and (iii) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar Rate Eurocurrency Loans, shall also be the last day of the applicable Interest PeriodPeriod therefor); provided, however, that if, with respect to any Eurocurrency Loans that are Dollar Loans of any Borrower, the Agent does not receive, within the time period required under the terms of this Section 2.8, a Notice of Conversion or Continuation from such Borrower containing a permitted election to continue such Eurocurrency Loans for an additional Interest Period or to convert any such Loans, then, upon the expiration of the Interest Period therefor, such Loans will be automatically converted to Base Rate Loans.
(c) With respect to all Eurocurrency Loans, the aggregate of the Eurocurrency Loans of the same currency for each Interest Period therefor shall be in the amount of $500,000 or an integral multiple of $100,000 in excess thereof (or the equivalent thereof in an Alternative Currency determined in accordance with Section 2.16(c)). Each continuation of any Eurocurrency Loans of the same currency and each conversion or continuation of any Eurocurrency Loans of the same currency or of Base Rate Loans shall be allocated among such Loans of all Lenders ratably. The Administrative Agent shall promptly notify each Lender of its receipt of an IP Notice or a Notice of Conversion or Continuation and of the options selected thereincontents thereof. Each Notice of Conversion or Continuation and each IP Notice shall be irrevocable.
(cd) Notwithstanding the foregoingforegoing provisions of this Section 2.8, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Eurocurrency Loans, and no continuation in whole or in part of Eurodollar Rate Eurocurrency Loans that are Dollar Loans upon the expiration of any applicable Interest PeriodPeriod therefor, shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation ofcontinuing, or conversion into, would violate any and all Eurocurrency Loans that are in an Alternative Currency shall be of the provisions of duration therefor provided in Section 2.142.9(d).
(d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert any such Loan, then, upon the expiration of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
(e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 2 contracts
Sources: Credit Agreement (Euramax International PLC), Credit Agreement (Euramax International PLC)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of at least $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, a Eurodollar Rate Loan would violate any provision of the provisions of Section 2.14.
2.13 (d) Special Provisions Governing Eurodollar Rate Loans). If, within the time period required under the terms of this Section 2.112.10, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Boardwalk Pipeline Partners, LP), Revolving Credit Agreement (Boardwalk Pipeline Partners, LP)
Conversion/Continuation Option. (a) The Borrower Borrowers may elect (i) on at any Business Day time to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in complies with the amount provisions of $10,000,000 or an integral multiple of $1,000,000 in excess thereofSection 2.2(a). Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s its Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “"Notice of Conversion or Continuation”") and shall be made by giving the Administrative Agent at least three (3) Business Days’ ' prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, and (iiiC) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). .
(b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) . If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the any Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan Loans will be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 2 contracts
Sources: Credit Agreement (Terra Nitrogen Co L P /De), Credit Agreement (Terra Industries Inc)
Conversion/Continuation Option. (a) The Borrower may elect (i) on at any Business Day time to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, Loans or (ii) at the end of any applicable Interest PeriodPeriod with respect thereto, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans Loans, or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; providedPROVIDED, howeverHOWEVER, that the aggregate amount of the Eurodollar Loans for each Interest Period therefor must be in the amount of $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender all Lenders in accordance with such Lender’s their Ratable Portion.
(b) Portions. Each such election shall be in substantially the form of Exhibit F hereto EXHIBIT C (a “Notice of Conversion or Continuation”"NOTICE OF CONVERSION OR CONTINUATION") and shall be made by giving the Administrative Agent at least three (3) Business Days’ Days prior written notice thereof specifying (iA) the amount and type of Loan being converted conversion or continuedcontinuation, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest PeriodPeriod therefor, and (iiiC) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest PeriodPeriod therefor). The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) contents thereof. Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest PeriodPeriod therefor, shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) continuing. If, within the time period required under the terms of this Section 2.112.7, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest PeriodPeriod therefor, such Loan Loans will be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 2 contracts
Sources: Credit Agreement (Elder Beerman Stores Corp), Credit Agreement (Elder Beerman Stores Corp)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s its Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto G (a “"Notice of Conversion or Continuation”") and shall be made by giving the Administrative Agent at least three (3) Business Days’ ' prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, and (iiiC) in the case of a conversion, the date of conversion conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion into, would violate or otherwise not be permitted under any of the provisions of Section 2.14.
2.14 (d) Special Provisions Governing Eurodollar Rate Loans). If, within the time period required under the terms of this Section 2.112.11 (Conversion/Continuation Option), the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 2 contracts
Sources: Credit Agreement (Technical Olympic Usa Inc), Credit Agreement (Technical Olympic Usa Inc)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day Day, to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of at least $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s 's Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Form of Notice of Conversion or Continuation”) (a "Notice of Conversion or Continuation") and shall be made by giving the Administrative Agent at least three (3) Business Days’ ' prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, (i) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans shall be permitted at any time prior to the Syndication Completion Date and (ii) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, a Eurodollar Rate Loan would violate any of the provisions provision of Section 2.14.
2.14 (d) Special Provisions Governing Eurodollar Rate Loans). If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 2 contracts
Sources: Credit Agreement (Aviall Inc), Credit Agreement (Aviall Inc)
Conversion/Continuation Option. (a) The Borrower Borrowers may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Rate Loans for each Interest Period must be in the an amount of $10,000,000 or that is an integral multiple of $1,000,000 in excess thereof1,000,000.00. Each conversion or continuation shall be allocated among the Loans subject to such conversion or continuation of each Applicable Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Notice of Conversion or Continuation”) and shall be made by giving the Applicable Administrative Agent at least three (3) Business Days’ prior written notice specifying specifying, in each case, (iA) the amount and type Type of Loan Loans being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Applicable Administrative Agent shall promptly notify each Applicable Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at during which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion into, a Eurodollar Rate Loan would violate any of the provisions provision of Section 2.14.
(d) 2.17. If, within the time period required under the terms of this Section 2.112.14, the Applicable Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower Borrowers containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 2 contracts
Sources: Credit Agreement (McDermott International Inc), Superpriority Senior Secured Credit Agreement (McDermott International Inc)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day Day, to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Rate Loans for each Interest Period must be in the amount of at least $10,000,000 1,000,000 or an integral multiple of $1,000,000 500,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three two (32) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, the Administrative Agent or the Requisite Lenders may require, by notice to the Borrower, that no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing continuing, or (B) the continuation of, or conversion into, a Eurodollar Rate Loan would violate any of the provisions provision of Section 2.14.
(d) . If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 2 contracts
Sources: Credit Agreement (JOANN Inc.), Credit Agreement (JOANN Inc.)
Conversion/Continuation Option. (a) The Borrower may elect (i) on at any Business Day time to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar LIBO Rate Loans, or (ii) at the end of any applicable Interest Period, time to convert Eurodollar LIBO Rate Loans or any portion thereof into Base Rate Loans Loans, or (iii) at the end of any applicable Interest Period to continue such Eurodollar LIBO Rate Loans or any portion thereof for an additional Interest Period; provided, however, that that, if any such conversion of any LIBO Rate Loan is made pursuant to clause (ii) above other than on the aggregate amount last day of the Eurodollar Loans for each an Interest Period must be in for such Loan, the amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereofBorrower shall also pay any amounts owing pursuant to Section 2.12(e). Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s its Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F E hereto (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying no later than 12:00 noon (iNew York City time) on the date three Business Days in advance of the relevant conversion or continuation, which notice shall specify (A) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to LIBO Rate Loans or a continuation of Eurodollar LIBO Rate Loans, the applicable Interest Period, and (iiiC) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest PeriodDay). In lieu of giving a Notice of Conversion or Continuation for any conversion or continuation, the Borrower may give the Administrative Agent telephonic notice prior to the time required for giving a Notice of Conversion or Continuation; provided, however, that such telephonic notice shall be promptly confirmed in writing by delivery of a duly executed Notice of Conversion or Continuation to the Administrative Agent prior to the date of conversion or continuation.
(b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation (or of telephonic notice duly given in lieu thereof) and of the options selected therein.
(c) . Notwithstanding the foregoing, (i) no conversion in whole or in part of Base Rate Loans to Eurodollar LIBO Rate Loans, and no continuation in whole or in part of Eurodollar LIBO Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing continuing; and (ii) no conversion in whole or (B) in part of Base Rate Loans to LIBO Rate Dollar Loans, and no continuation in whole or in part of LIBO Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which such conversion into, or continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) 2.12. If, within the time period required under the terms of this Section 2.112.9, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar LIBO Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, if such Loan Loans are LIBO Rate Loans, such Loans will be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day Day, to convert Base Rate Loans (other than Swing Loans) consisting of Revolving Loans or any portion thereof to Eurodollar Rate Loans, or RateTerm SOFR Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate RateTerm SOFR Loans consisting of Revolving Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate RateTerm SOFR Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar RateTerm SOFR Loans for each Interest Period must be in the amount of at least $10,000,000 1,000,000 or an integral multiple of $1,000,000 500,000 in excess thereof. Each conversion or continuation shall be allocated among the Revolving Loans of each Revolving Credit Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three two (32) Business Days’ prior written notice specifying (iA) the amount and type typeType of Revolving Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate RateTerm SOFR Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Revolving Credit Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, the Administrative Agent or the Requisite Revolving Credit Lenders may require, by notice to the Borrower, that no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Rateconsisting of Revolving Loans to Term SOFR Loans and no continuation in whole or in part of Eurodollar Rate RateTerm SOFR Loans consisting of Revolving Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing continuing, or (B) the continuation of, or conversion into, a Eurodollar RateTerm SOFR Loan would violate any of the provisions provision of Section 2.14.
(d) . If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan RateTerm SOFR Loans consisting of Revolving Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Credit Agreement (JOANN Inc.)
Conversion/Continuation Option. (a) The Borrower may elect (i) on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of (x) in the case of the Revolving Loans, at least $10,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) in the case of the Term Loans, at least $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) Each such election shall be in substantially the form of Exhibit F hereto (a “‘‘Notice of Conversion or Continuation”’’) and shall be made by giving the applicable Administrative Agent at least three (3) Business Days’ prior written notice specifying (i) the amount and type of Loan being converted or continued, (ii) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, and (iii) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). The applicable Administrative Agent shall promptly notify each applicable Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) If, within the time period required under the terms of this Section 2.11, the applicable Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert any such Loan, then, upon the expiration of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
(e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The A Borrower may elect (i) on at any Business Day time to convert Base Rate Loans (other than Swing Loans) owing by it or any portion thereof to Eurodollar Rate Loans, Loans or (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans owing by it or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of $10,000,000 3,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s its Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto E (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). .
(b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert any such Loan, then, upon the expiration of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
(e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Credit Agreement (Suntron Corp)
Conversion/Continuation Option. (a) The Borrower may elect (i) on at any Business Day time to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; providedPROVIDED, howeverHOWEVER, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of $10,000,000 2,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s its Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit EXHIBIT F hereto (a “Notice of Conversion or Continuation”"NOTICE OF CONVERSION OR CONTINUATION") and shall be made by giving the Administrative Agent at least three (3) Business Days’ ' prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, and (iiiC) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). .
(b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion into, would violate any of the provisions of Section SECTION 2.14.
(d) . If, within the time period required under the terms of this Section SECTION 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan Loans will be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of at least $10,000,000 1,000,000 or an integral multiple of $1,000,000 500,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto E (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert would violate any such Loan, then, upon the expiration provision of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
Section 2.13 (e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day Day, to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of $10,000,000 at least $ 3,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert would violate any such Loan, then, upon the expiration provision of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
Section 2.14 (e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Credit Agreement (Tekni Plex Inc)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Rate Loans for each Interest Period must be in the an amount of $10,000,000 or that is an integral multiple of $1,000,000 in excess thereof1,000,000. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (ior telephonic notice promptly conformed in writing) specifying, in each case, (A) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert would violate any such Loan, then, upon the expiration provision of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
Section 2.14 (e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Amendment Agreement (Washington Group International Inc)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day Day, to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of at least $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Revolving Credit Lender in accordance with such Revolving Credit Lender’s Direct Tranche Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Direct Tranche Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, (i) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans shall be permitted at any time prior to the Syndication Completion Date and (ii) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14CREDIT AGREEMENT THE PREMCOR REFINING GROUP INC.
(d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert any such Loan, then, upon the expiration of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
(e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Credit Agreement (Premcor Inc)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, (A) to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or (B) to continue such Eurodollar Rate Loans Loans, or any portion thereof thereof, for an additional Interest Period; provided, however, that (i) the aggregate amount of the Eurodollar Base Rate Loans for each Interest Period must be in the amount of at least $10,000,000 500,000 or an integral multiple of $100,000 in excess thereof and (ii) the aggregate amount of the Eurodollar Rate Loans for each Interest Period must be in the amount of at least $1,000,000 or an integral multiple of $500,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each applicable Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert would violate any such Loan, then, upon the expiration provision of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
Section 2.14 (e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Subject to Section 2.10, the Borrower may elect (ia) on at any Business Day time to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or (iib) at the end of any applicable Interest PeriodPeriod with respect thereto, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Rate Loans for each Interest Period must be in the amount of $10,000,000 2,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender Lenders in accordance with such Lender’s their respective Ratable Portion.
(b) Portions. Each such election shall be in substantially the form of Exhibit F hereto C (a “"Notice of Conversion or Continuation”") and shall be made by giving the Administrative Agent at least (x) three (3) Business Days’ ' prior written notice thereof, in the case of the conversion of Base Rate Loans into Eurodollar Rate Loans or the continuation of Eurodollar Rate Loans, and (y) one Business Day's prior written notice thereof, in the case of the conversion of Eurodollar Rate Loans into Base Rate Loans, in each case specifying (i) the amount and type of Revolving Credit Loan being converted or continued, (ii) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period therefor and (iii) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest PeriodPeriod therefor). The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) contents thereof. Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest PeriodPeriod therefor, shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) continuing. If, within the time period required under the terms of this Section 2.112.7, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanPeriod, then, upon the expiration of the applicable Interest PeriodPeriod therefor, such Loan Eurodollar Rate Loans will be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Credit Agreement (Intergraph Corp)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of at least $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s 's Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Form of Notice of Conversion or Continuation”) (a "Notice of Conversion or Continuation") and shall be made by giving the Administrative Agent at least three (3) Business Days’ ' prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, (i) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans shall be permitted at any time prior to the Syndication Completion Date and (ii) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert would violate any such Loan, then, upon the expiration provision of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
Section 2.14 (e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Credit Agreement (Datapath Inc)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day Day, to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of $10,000,000 at least $ 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Revolving Credit Lender in accordance with such Revolving Credit Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case CREDIT AGREEMENT CONSTAR INTERNATIONAL INC. of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, (i) unless the Administrative Agent shall otherwise consent in its sole discretion, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans (other than Eurodollar Rate Loans having an Interest Period of one or two weeks) shall be permitted at any time prior to the earlier of (x) 45 Business Days after the Closing Date and (y) the time at which the Arranger has determined that a successful syndication has been completed and (ii) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert would violate any such Loan, then, upon the expiration provision of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
Section 2.14 (e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Rate Loans for each Interest Period must be in the amount of at least $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Term Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto D (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Term Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Term Loan Agreement Collective Brands Finance, Inc. Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert would violate any such Loan, then, upon the expiration provision of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
Section 2.12 (e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The A Borrower may elect (i) on at any Business Day time to convert Base Rate Loans (other than Swing Loans) owing by it or any portion thereof to Eurodollar Rate Loans, Loans or (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans owing by it or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of $10,000,000 3,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s its Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto E (a “Form of Notice of Conversion or Continuation”) (a "Notice of Conversion or Continuation") and shall be made by giving the Administrative Agent at least three (3) Business Days’ ' prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). .
(b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, ,
(i) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans shall be permitted at any time prior to the Syndication Completion Date except to Eurodollar Rate Loans with Interest Periods otherwise determined by the Administrative Agent pursuant to clause (a) of Section 2.2 (Borrowing Procedures) and (ii) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert any such Loan, then, upon the expiration of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
(e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Credit Agreement (Suntek Corp)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Eurocurrency Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Eurocurrency Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Eurocurrency Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Eurocurrency Loans for each Interest Period must be in the amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereofthat is not less than the applicable Minimum Currency Threshold. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s 's Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Form of Notice of Conversion or Continuation”) (a "Notice of Conversion or Continuation") and shall be made by giving the Administrative Agent at least three (3or, in the case of conversion of Eurocurrency Rate Loans to Base Rate Loans, one) Business Days’ ' prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Eurocurrency Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, (i) Optional Currency Loans may not be converted into Base Rate Loans and (ii) no conversion in whole or in part of Base Rate Loans to Eurodollar Eurocurrency Rate Loans, Loans and no continuation in whole or in part of Eurodollar Eurocurrency Rate Loans denominated in Dollars upon the expiration of any applicable Interest Period, shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, a Eurocurrency Rate Loan would violate any of the provisions provision of Section 2.14.
2.15 (d) Special Provisions Governing Eurocurrency Rate Loans). If, within the time period required under the terms of this Section 2.112.12, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Eurocurrency Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans, if denominated in Dollars, shall be automatically converted to a Base Rate Loan.
(e) Loans and such Loans, if denominated in any one or more of the Optional Currencies, shall be automatically continued as Eurocurrency Loans with an interest period of one month. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of at least $10,000,000 1,000,000 or an integral multiple of $1,000,000 500,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert would violate any such Loan, then, upon the expiration provision of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
Section 2.14 (e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Rate Loans for each Interest Period must be in the an amount of $10,000,000 or that is an integral multiple of $1,000,000 in excess thereof1,000,000. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (ior telephonic notice promptly confirmed in writing) specifying, in each case, (A) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each applicable Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at during which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert would violate any such Loan, then, upon the expiration provision of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
(e) Each Notice of Conversion or Continuation shall be irrevocable.Section
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day Day, to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Eurocurrency Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Eurocurrency Rate Loans denominated in Dollars or any portion thereof into Base Rate Loans or to continue such Eurodollar any (x) Eurocurrency Rate Loans or (y) EURIBOR Rate Loans, or, in each case, any portion thereof thereof, for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Eurocurrency Rate Loans or EURIBOR Rate Loans for each Interest Period must be in the amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereofthe applicable Minimum Threshold. Each conversion or continuation shall be allocated among the Loans of each Revolving Credit Lender in accordance with such Revolving Credit Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Eurocurrency Rate Loans or EURIBOR Rate Loans, as applicable, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation pursuant to Section 2.11(a) above and of the options selected therein.
(c) . Notwithstanding the foregoing, (i) no conversion in whole or in part of Base Rate Loans to Eurodollar Eurocurrency Rate Loans, Loans and no continuation in whole or in part of Eurodollar Rate Revolving Loans denominated in an Alternative Currency (other than to Revolving Loans having an Interest Period of one week or one month) upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, a Eurocurrency Rate Loan would violate any of the provisions provision of Section 2.14.
2.14 (d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert any such Loan, then, upon the expiration of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
(e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower may elect (i) on at any Business Day time to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, Loans or (ii) at the end of any applicable Interest PeriodPeriod with respect thereto, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans Loans, or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Rate Loans for each Interest Period therefor must be in the amount of $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Revolving Credit Loans of each Lender all Lenders in accordance with such Lender’s their Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F D hereto (a “"Notice of Conversion or Continuation”") and shall be made by giving the Administrative Agent at least three (3) Business Days’ ' prior written notice thereof specifying (iA) the amount and type of Loan being converted conversion or continued, (ii) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Periodcontinuation, and (iiiB) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest PeriodPeriod therefor). No conversion of any Swing Loan from a Base Rate Loan may be made. The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) contents thereof. Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest PeriodPeriod therefor, shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) continuing. If, within the time period required under the terms of this Section 2.112.8, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, or on any date the aggregate unpaid principal amount of Eurodollar Rate Loans comprising any Borrowing is reduced, by payment or prepayment or otherwise, to less than $5,000,000, then, upon the expiration of the applicable Interest PeriodPeriod therefor, such Loan Loans will be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Credit Agreement (WHX Corp)
Conversion/Continuation Option. (a) The Each Borrower may elect (i) (A) at any time on any Business Day to convert Base Rate Loans (other than Swing Swingline Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (iiB) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of at least $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof, and (ii) (A) at any time on any Business Day to convert Swingline Loans that are Base Rate Loans or any portion thereof to LMIR Loans and (B) to convert LMIR Rate Loans or any portion thereof into Base Rate Loans; provided, however, that the aggregate amount of the LMIR Loans must be in the amount of at least $100,000 or an integral multiple of $100,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Notice of Conversion or Continuation”) and shall be made by the Parent Borrower giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iw) whether the Parent Borrower is requesting such conversion or continuation on behalf of itself or for another Borrower (and if on behalf of another Borrower, the identity of such Borrower), (x) the amount and type of Loan being converted or continued, (iiy) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiz) in the case of a conversion, the date of conversion such conversion. Exhibit 10.2 BWP 10-Q 06/30/2009 Exhibit 10.2 -----
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, a Eurodollar Rate Loan would violate any provision of the provisions of Section 2.14.
2.13 (d) Special Provisions Governing Eurodollar Rate Loans). If, within the time period required under the terms of this Section 2.112.10, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Parent Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Revolving Credit Agreement (Boardwalk Pipeline Partners, LP)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day Day, to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Eurocurrency Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Eurocurrency Rate Loans denominated in Dollars or any portion thereof into Base Rate Loans or to continue such Eurodollar any (x) AMENDED AND RESTATED CREDIT AGREEMENT ▇▇▇▇▇ HEALTHCARE CORPORATION Eurocurrency Rate Loans or (y) EURIBOR Rate Loans, or, in each case, any portion thereof thereof, for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Eurocurrency Rate Loans or EURIBOR Rate Loans for each Interest Period must be in the amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereofthe applicable Minimum Threshold. Each conversion or continuation shall be allocated among the Loans of each Revolving Credit Lender in accordance with such Revolving Credit Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Eurocurrency Rate Loans or EURIBOR Rate Loans, as applicable, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation pursuant to Section 2.11(a) above and of the options selected therein.
(c) . Notwithstanding the foregoing, (i) no conversion in whole or in part of Base Rate Loans to Eurodollar Eurocurrency Rate Loans, Loans and no continuation in whole or in part of Eurodollar Rate Revolving Loans denominated in an Alternative Currency (other than to Revolving Loans having an Interest Period of one week or one month) upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, a Eurocurrency Rate Loan would violate any of the provisions provision of Section 2.14.
2.14 (d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert any such Loan, then, upon the expiration of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
(e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any U.S. Government Securities Business Day Day, to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Term SOFR Loans or Daily Simple SOFR Loans, or (ii) (A) at any time on any U.S. Government Securities Business Day, to convert Daily Simple SOFR Loans or any portion thereof to Term SOFR Loans and (B) at any time on any Business Day, to convert Daily Simple SOFR Loans or any portion thereof to Base Rate Loans and (iii) at the end of any applicable Interest Period, to convert Eurodollar Rate Term SOFR Loans or any portion thereof into Base Rate Loans or Daily Simple SOFR Loans or to continue such Eurodollar Rate any (x) Term SOFR Loans or (y) EURIBOR Rate Loans, or, in each case, any portion thereof thereof, for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Term SOFR Loans or EURIBOR Rate Loans for each Interest Period must be in the amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereofthe applicable Minimum Threshold. Each conversion or continuation shall be allocated among the Loans of each Revolving Credit Lender in accordance with such Revolving Credit Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least (i) three (3) U.S. Government Securities Business Days’ prior written notice in the case of Term SOFR Loans, (ii) three U.S. Government Securities Business Days’ prior written notice in the case of Daily Simple Term SOFR Loans and (iii) three Business Days’ prior written notice in the case of EURIBOR Rate Loans, in each case, specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Term SOFR Loans or EURIBOR Rate Loans, as applicable, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion. AMENDED AND RESTATED CREDIT AGREEMENT ▇▇▇▇▇ HEALTHCARE CORPORATION
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation pursuant to Section 2.11(a) above and of the options selected therein.
(c) . Notwithstanding the foregoing, (i) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Term SOFR Loans or Daily Simple SOFR Loans and no continuation in whole or in part of Eurodollar Rate Revolving Loans denominated in an Alternative Currency (other than to Revolving Loans having an Interest Period of one week or one month, if applicable) upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion intoto, a Term SOFR Loan or a Daily Simple SOFR Loan would violate any of the provisions provision of Section 2.14.
2.14 (d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert any such Loan, then, upon the expiration of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
(e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of at least $10,000,000 1,000,000 or an integral multiple of $1,000,000 500,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s 's Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F G hereto (a “"Notice of Conversion or Continuation”") and shall be made by giving the Administrative Agent at least three (3) Business Days’ ' prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion into, a Eurodollar Rate Loan would violate any of the provisions provision of Section 2.14.
(d) . If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Secured Debtor in Possession Credit Agreement (Friedmans Inc)
Conversion/Continuation Option. (a) The Borrower Seller may elect (i) at any time on any Business Day Day, to convert Capital Investments bearing Yield at the Applicable Base Rate Loans (other than Swing LoansPurchases) or any portion thereof to Eurodollar Capital Investments bearing Yield at the Applicable LIBO Rate Loans, or and (ii) at the end of any applicable Interest Yield Period, to convert Eurodollar Capital Investments bearing Yield at the Applicable LIBO Rate Loans or any portion thereof into Capital Investments bearing Yield at the Applicable Base Rate Loans or to continue such Eurodollar Capital Investments bearing Yield at the Applicable LIBO Rate Loans or any portion thereof for an additional Interest Yield Period; provided, however, that the aggregate amount of the Eurodollar Loans Capital Investments bearing Yield at the Applicable LIBO Rate for each Interest Yield Period must be in the an amount of at least $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans Capital Investments of each Lender Purchaser in accordance with such LenderPurchaser’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto H (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) 3 Business Days’ prior written notice (A) specifying (i) the amount and type of Loan Capital Investment being converted or continued, (iiB) specifying in the case of a conversion to or a continuation of Eurodollar Rate LoansCapital Investments bearing Yield at the Applicable LIBO Rate, the applicable Interest Yield Period, and (iiiC) specifying in the case of a conversion, the date of such conversion and (which date shall be a Business Day andD) certifying that no Event of Termination has occurred and is continuing, if a conversion from Eurodollar Rate Loans, shall also be and certifying that the last day representations and warranties applicable to the Seller contained in Article IV of this Agreement and in Article III of the applicable Interest Period). Receivables Sale Agreement are and will be true and correct on and as of the date of such conversion or continuation as though made on and as of such date, other than any such representations and warranties that, by their terms, refer to a specific date other than the date of such conversion or continuation, in which case as of such dates.
(b) The Administrative Agent shall promptly notify each Lender Purchaser of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Capital Investments bearing Yield at the Applicable Base Rate Loans to Eurodollar Capital Investments bearing Yield at the Applicable LIBO Rate Loans, and no continuation in whole or in part of Eurodollar Capital Investments bearing Yield at the Applicable LIBO Rate Loans upon the expiration of any applicable Interest Period, Yield Period shall be permitted at any time at which (Ai) a Default Potential Event of Termination or an Event of Default Termination shall have occurred and be continuing or (Bii) the continuation of, or conversion into, a Capital Investment bearing Yield at the Applicable LIBO Rate would violate any of the provisions provision of Section 2.14.
(d) 2.12. If, within the time period required under the terms of this Section 2.112.16, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower Seller containing a permitted election to continue any Loan that is a Eurodollar Capital Investments bearing Yield at the Applicable LIBO Rate Loan for an additional Interest Yield Period or to convert any such LoanCapital Investments, then, upon the expiration of the applicable Interest Yield Period, such Loan will Capital Investments shall be automatically converted to a Capital Investments bearing Yield at the Applicable Base Rate Loan.
(e) Rate. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower may elect (i) by 11:00 a.m. (New York time) on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Rate Loans for each Interest Period must be in the amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof1,000,000. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, (i) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate LoansLoans shall be permitted at any time prior to the Syndication Completion Date, (ii) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or and the Administrative Agent shall have received instructions from the Requisite Lenders to that effect, (B) the continuation of, or conversion into, a Eurodollar Rate Loan would violate any of the provisions provision of Section 2.14.
2.14 (dSpecial Provisions Governing Eurodollar Rate Loans) and (C) any Material Event of Default shall have occurred and be continuing and (iii) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans having an Interest Period greater than one month and no continuation in whole or in part of Eurodollar Rate Loans into Eurodollar Rate Loans upon the expiration of any applicable Interest Period into Eurodollar Rate Loans having an Interest Period greater than one month shall be permitted at any time at which an Event of Default shall have occurred and be continuing. If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. If the Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar Rate Loans in any such Notice of Conversion or Continuation, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of at least $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s 's Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto E (a “Form of Notice of Conversion or Continuation”) (a "Notice of Conversion or Continuation") and shall be made by giving the Administrative Agent at least three (3) Business Days’ ' prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion into, a Eurodollar Rate Loan would violate any of the provisions provision of Section 2.14.
2.13 (d) Special Provisions Governing Eurodollar Rate Loans). If, within the time period required under the terms of this Section 2.112.10, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Credit Agreement (Massey Energy Co)
Conversion/Continuation Option. (a) The Administrative Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Rate Loans for each Interest Period must be in the amount of $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Term Loans of each Lender in accordance with such each applicable Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type Type of Term Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, and (iiiC) in the case of a conversion, the date of conversion conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion intointo Eurodollar Rate Loans, would violate or otherwise not be permitted under any of the provisions of Section 2.14.
(d) 2.13. If, within the time period required under the terms of this Section 2.112.10, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Administrative Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanTerm Loans, then, upon the expiration of the applicable Interest Period, such Loan will Term Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day Day, to convert Base Rate Loans (other than Swing Loans) consisting of Revolving Loans or any portion thereof to Eurodollar Rate Loans, or Term SOFR Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Term SOFR Loans consisting of Revolving Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Term SOFR Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Term SOFR Loans for each Interest Period must be in the amount of at least $10,000,000 1,000,000 or an integral multiple of $1,000,000 500,000 in excess thereof. Each conversion or continuation shall be allocated among the Revolving Loans of each Revolving Credit Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three two (32) Business Days’ prior written notice specifying (iA) the amount and type Type of Revolving Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Term SOFR Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Revolving Credit Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, the Administrative Agent or the Requisite Revolving Credit Lenders may require, by notice to the Borrower, that no conversion in whole or in part of Base Rate Loans consisting of Revolving Loans to Eurodollar Rate Loans, Term SOFR Loans and no continuation in whole or in part of Eurodollar Rate Term SOFR Loans consisting of Revolving Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing continuing, or (B) the continuation of, or conversion into, a Term SOFR Loan would violate any of the provisions provision of Section 2.14.
(d) . If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Term SOFR Loans consisting of Revolving Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Credit Agreement (JOANN Inc.)
Conversion/Continuation Option. (a) The a. Each Borrower may elect (i) (A) at any time on any Business Day to convert Base Rate Loans (other than Swing Swingline Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (iiB) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Rate Loans for each Interest Period must be in the amount of at least $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof, and (ii) (A) at any time on any Business Day to convert Swingline Loans that are Base Rate Loans or any portion thereof to LMIR Loans and (B) to convert LMIR Rate Loans or any portion thereof into Base Rate Loans; provided, however, that the aggregate amount of the LMIR Loans must be in the amount of at least $100,000 or an integral multiple of $100,000 in excess thereof. Each conversion or continuation shall be EXHIBIT 10.1 ANNEX A allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Notice of Conversion or Continuation”) and shall be made by the Parent Borrower giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iw) whether the Parent Borrower is requesting such conversion or continuation on behalf of itself or for another Borrower (and if on behalf of another Borrower, the identity of such Borrower), (x) the amount and type of Loan being converted or continued, (iiy) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiz) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). such conversion.
b. The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans or LMIR Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted permitted, and all LMIR Loans shall be converted into Base Rate Loans, at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, a Eurodollar Rate Loan would violate any of the provisions provision of Section 2.14.
2.13(b) or (dc) (Special Provisions Governing Eurodollar Rate Loans). If, within the time period required under the terms of this Section 2.112.10, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Parent Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Revolving Credit Agreement (Boardwalk Pipeline Partners, LP)
Conversion/Continuation Option. (a) The Borrower may elect (i) on at any Business Day time to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into to Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate principal amount of the Eurodollar Rate Loans for each Interest Period constituting a single Borrowing must be in the amount of at least $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, and (iiiC) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). , and (D) that the conditions set forth in Section 3.2(b) have been satisfied.
(b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion into, into a Eurodollar Rate Loan would violate any of the provisions of Section 2.14.
(d) 2.12. If, within the time NY 72168370v12 period required under the terms of this Section 2.112.9, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan Loans will be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Secured Super Priority Debtor in Possession Multiple Draw Term Loan Agreement (Greenville Tube CO)
Conversion/Continuation Option. (a) The Borrower may elect (i) on at any Business Day time to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, Loans or (ii) at the end of any applicable Interest PeriodPeriod with respect thereto, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans Loans, or to continue such Eurodollar Rate Loans or any portion thereof as Eurodollar Rate Loans for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Rate Loans of the Borrower so converted or so continued for each Interest Period must be in the amount of $10,000,000 5,000,000 or an integral multiple of $1,000,000 5,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) Each such election shall be in substantially the form of Exhibit F C hereto (a “"Notice of Conversion or Continuation”") and shall be made by giving the Administrative Agent at least one Business Day's, in the case of a conversion to a Base Rate Loan, and three (3) Business Days’ ', in the case of a conversion to or a continuation of a Eurodollar Rate Loan, prior written notice thereof specifying (iA) the amount and type of Loan being converted conversion or continuedcontinuation, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest PeriodPeriod therefor, and (iiiC) in the case of a conversion, conversion the date of conversion (which date shall be a Business Day and, if a conversion from a Eurodollar Rate LoansLoan, shall also be the last day of the applicable Interest PeriodPeriod therefor). The Administrative Agent shall promptly (but in any event on the same day) notify each Lender Bank of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) contents thereof. Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest PeriodPeriod therefor, shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) continuing. If, within the time period required under the terms of this Section 2.114.1, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted an election to continue all or any Loan that is a portion of the Eurodollar Rate Loan Loans for an additional Interest Period or to convert all or any portion of such LoanLoans, then, upon the expiration of the applicable Interest PeriodPeriod therefor, such Loan Loans or the portions thereof for which an election to continue or convert has not been made will be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Credit Agreement (Viacom Inc)
Conversion/Continuation Option. (a) The Borrower may elect (ia) on at any Business Day time to convert any Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, Loans or (iib) at the end of any applicable Interest PeriodPeriod with respect thereto, to convert any Eurodollar Rate Loans or any portion thereof into Base Rate Loans Loans, or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; providedPROVIDED, howeverHOWEVER, that the aggregate amount of the Eurodollar Loans for each Interest Period therefor must be in the amount of $10,000,000 3,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender all Lenders in accordance with such Lender’s their Ratable Portion.
(b) Portions. Each such election shall be stated in a notice substantially in the form of Exhibit F hereto EXHIBIT C (a “Notice of Conversion or Continuation”"NOTICE OF CONVERSION OR CONTINUATION") and shall be made by the Borrower giving the Administrative Agent at least three (3) Business Days’ ' prior written notice thereof specifying (ix) the amount and type of Loan being converted conversion or continuedcontinuation, (iiy) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period therefor and (iiiz) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest PeriodPeriod therefor). The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) contents thereof. Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest PeriodPeriod therefor, shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) continuing. If, within the time period required under the terms of this Section 2.11SECTION 2.7, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest PeriodPeriod therefor, such Loan Loans will be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of at least $10,000,000 1,000,000 or an integral multiple of $1,000,000 500,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Revolving Credit Lender in accordance with such Revolving Credit Lender’s 's Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F G hereto (a “"Notice of Conversion or Continuation”") and shall be made by giving the Administrative Agent at least three (3) Business Days’ ' prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion into, a Eurodollar Loan would violate any of the provisions provision of Section 2.14.
(d) . If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Each Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Swingline Loans) or any portion thereof to Eurodollar Rate Loans, or SOFR Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate SOFR Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate SOFR Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar SOFR Loans for each Interest Period must be in the amount of at least $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Notice of Conversion or Continuation”) and shall be made by the Parent Borrower giving the Administrative Agent at least three (3) U.S. Government Securities Business Days’ prior written notice specifying (iw) whether the Parent Borrower is requesting such conversion or continuation on behalf of itself or for another Borrower (and if on behalf of another Borrower, the identity of such Borrower), (x) the amount and type of Loan being converted or continued, (iiy) in the case of a conversion to or a continuation of Eurodollar Rate SOFR Loans, the applicable Interest Period, Period and (iiiz) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, SOFR Loans and no continuation in whole or in part of Eurodollar Rate SOFR Loans upon the expiration of any applicable Interest Period, Period shall be permitted permitted, and all SMIR Loans shall be converted into Base Rate Loans, at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, a SOFR Loan would violate any of the provisions provision of Section 2.14.
2.13(b) or (dc) (Special Provisions Governing SOFR Loans). If, within the time period required under the terms of this Section 2.112.10, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Parent Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan SOFR Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to Base Rate Loans. Any such automatic conversion to a Base Rate Loan shall be effective as of the last day of the Interest Period then in effect with respect to the applicable SOFR Loan.
(e) . If any Borrower requests a conversion to, or continuation of, a SOFR Loan, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. Notwithstanding anything to the contrary herein, a Swingline Loan may not be converted to a SOFR Loan. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Revolving Credit Agreement (Boardwalk Pipeline Partners, LP)
Conversion/Continuation Option. (a) The Borrower may elect (i) on at any Business Day time to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of $10,000,000 7,500,000 or an integral multiple multiples of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s its Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “"Notice of Conversion or Continuation”") and shall be made by giving the Administrative Agent at least three (3) Business Days’ ' prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, and (iiiC) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). .
(b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) . If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan Loans will be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Administrative Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Rate Loans of any Class for each Interest Period must be in the amount of $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender of such Class in accordance with such each applicable Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto I (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount amount, type and type Class of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, and (iiiC) in the case of a conversion, the date of conversion conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion intointo Eurodollar Rate Loans, would violate or otherwise not be permitted under any of the provisions of Section 2.14.
(d) 2.12. If, within the time period required under the terms of this Section 2.112.9, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Administrative Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower may elect (i) on at any Business Day time to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of at least $10,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s 's Ratable Portion.
(b) Each such election shall be in substantially the form of Exhibit F hereto (a “"Notice of Conversion or Continuation”") and shall be made by giving the Administrative Agent at least three (3) Business Days’ ' prior written notice specifying (i) the amount and type of Loan being converted or continued, (ii) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, and (iii) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert any such Loan, then, upon the expiration of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
(e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Senior Secured Revolving Credit Agreement (Warnaco Group Inc /De/)
Conversion/Continuation Option. (a) The Borrower may elect (i) on at any Business Day time to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans (other than Tranche B Loans) or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of at least $10,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s 's Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “"Notice of Conversion or Continuation”") and shall be made by giving the Administrative Agent at least three (3) Business Days’ ' prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, and (iiiC) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). .
(b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, (i) prior to the Syndication Completion Date, the Borrower may not select any Interest Period in excess of one month (or such shorter period if requested by Administrative Agent), (ii) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans (other than Tranche B Loans) upon the expiration of any applicable Interest Period, shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
2.14 and (diii) no conversion in whole or in part of Tranche B Loans to Base Rate Loans shall be permitted at any time. If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Tranche A Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert any such Loan, then, upon the expiration of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
(e) . If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Tranche B Loan that is a Eurodollar Rate Loan for an additional Interest Period, then, upon the expiration of the applicable Interest Period, such Loans will be automatically continued for an Interest Period of 1 month. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Revolving Credit Agreement (Warnaco Group Inc /De/)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Rate Loans for each Interest Period must be in the amount of at least $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Term Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto D (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Term Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, a Eurodollar Rate Loan would violate any of the provisions provision of Section 2.14.
2.12 (d) Special Provisions Governing Eurodollar Rate Loans). If, within the time period required under the terms of this Section 2.112.9, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanTerm Loans, then, upon the expiration of the applicable Interest Period, such Loan will Term Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower may elect (i) on at any Business Day time, to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, Loans or (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of at least $10,000,000 1,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s 's Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F J hereto (a “"Notice of Conversion or Continuation”") and shall be made by giving the Administrative Agent at least three (3) Business Days’ ' prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). .
(b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) 2.16. If, within the time period required under the terms of this Section 2.112.15, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan Loans will be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day Day, to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of $10,000,000 at least $ 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Revolving Credit Lender in accordance with such Revolving Credit Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, and (iiiC) in the case of a conversion, the date of such conversion and (which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be D) that the last day condition set forth in Section 3.2(b) (Conditions Precedent to Each Loan and Letter of the applicable Interest Period). Credit) has been satisfied.
(b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, (i) unless the Administrative Agent shall otherwise consent in its sole discretion, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans (other than Eurodollar Rate Loans having an Interest Period of one or two weeks) shall be permitted at any time prior to the earlier of (x) 45 Business Days after the Closing Date and (y) the time at which the Arranger has determined that a successful syndication has been completed and (ii) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert would violate any such Loan, then, upon the expiration provision of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
Section 2.14 (e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower may elect (i) on at any Business Day time to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into to Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate principal amount of the Eurodollar Rate Loans for each Interest Period constituting a single Borrowing must be in the amount of at least $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F J hereto (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, and (iiiC) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). , and (D) that the conditions set forth in Section 3.2(b) have been satisfied.
(b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion into, into a Eurodollar Rate Loan would violate any of the provisions of Section 2.14.
(d) . If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan Loans will be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Secured Super Priority Debtor in Possession Multiple Draw Term Loan Agreement (Pliant Corp)
Conversion/Continuation Option. (a) The applicable Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to into Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest PeriodPeriod (subject to the limitations in the definition thereof); provided, however, that the aggregate amount of the Eurodollar Rate Loans for each Interest Period must be in the amount of at least $10,000,000 or 1,000,000 and an integral multiple of $1,000,000 in excess thereof25,000. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion into, a Eurodollar Rate Loan would violate any of the provisions provision of Section 2.14.
(d) . If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the applicable Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Administrative Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Rate Loans of any Class for each Interest Period must be in the amount of $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender of such Class in accordance with such each applicable Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount amount, type and type Class of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, and (iiiC) in the case of a conversion, the date of conversion conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion intointo Eurodollar Rate Loans, would violate or otherwise not be permitted under any of the provisions of Section 2.14.
(d) 2.13. If, within the time period required under the terms of this Section 2.112.10, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Administrative Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Amendment Agreement (Tousa Inc)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day Day, to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of $10,000,000 at least $ 3,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Tranche A Loans or Tranche A-1 Loans, as applicable, of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Revolving Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert any such Loan, then, upon the expiration of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
(e) Each Notice of Conversion or Continuation shall be irrevocable.Interest
Appears in 1 contract
Sources: Credit Agreement (Tekni Plex Inc)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s its Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, and (iiiC) in the case of a conversion, the date of conversion conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion into, would violate or otherwise not be permitted under any of the provisions of Section 2.14.
(d) 2.13. If, within the time period required under the terms of this Section 2.112.10, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower or CFCC, as applicable may elect (i) on at any Business Day time, to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, Loans or (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of at least $10,000,000 1,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s 's Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F D hereto (a “"Notice of Conversion or Continuation”") and shall be made by the Borrower giving the Administrative Agent at least three (3) Business Days’ ' prior written notice specifying (iA) the amount and type of Loan being converted or continued, (ii) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, and (iiiB) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). .
(b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) 2.16. If, within the time period required under the terms of this Section 2.112.15, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan Loans will be automatically converted to a Base continued as Eurodollar Rate Loan.
(e) Loans with an Interest Period of one month. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Secured Super Priority Debtor in Possession Credit Agreement (Conseco Inc)
Conversion/Continuation Option. (a) The Borrower Seller may elect (i) at any time on any Business Day Day, to convert Capital Investments bearing Yield at the Applicable Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Capital Investments bearing Yield at the Applicable LIBO Rate Loans, or and (ii) at the end of any applicable Interest Yield Period, to convert Eurodollar Capital Investments bearing Yield at the Applicable LIBO Rate Loans or any portion thereof into Capital Investments bearing Yield at the Applicable Base Rate Loans or to continue such Eurodollar Capital Investments bearing Yield at the Applicable LIBO Rate Loans or any portion thereof for an additional Interest Yield Period; provided, however, that the aggregate amount of the Eurodollar Loans Capital Investments bearing Yield at the Applicable LIBO Rate for each Interest Yield Period must be in the an amount of at least $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion Conversion or continuation Continuation shall be allocated among the Loans Capital Investments of each Lender Purchaser in accordance with such LenderPurchaser’s Ratable Portion.
(b) Receivable Interest. Each such election shall be in substantially the form of Exhibit F hereto G (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Loan Capital Investment being converted or continued, (iiB) in the case of a conversion to Capital Investments bearing Yield at the Applicable LIBO Rate or a continuation of Eurodollar Rate LoansContinuation, the applicable Interest Period, Yield Period and (iiiC) in the case of a conversionConversion, the date of conversion such Conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender Purchaser of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Capital Investments bearing Yield at the Applicable Base Rate Loans to Eurodollar Capital Investments bearing Yield at the Applicable LIBO Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans Continuation upon the expiration of any applicable Interest Period, Yield Period shall be permitted at any time at which (Ai) a Default or an Event of Default Termination shall have occurred and be continuing or (Bii) the continuation of, or conversion into, a Capital Investment bearing Yield at the Applicable LIBO Rate would violate any of the provisions provision of Section 2.14.
(d) 2.12. If, within the time period required under the terms of this Section 2.112.16, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower Seller containing a permitted election to continue any Loan that is a Eurodollar Capital Investments bearing Yield at the Applicable LIBO Rate Loan for an additional Interest Yield Period or to convert any such LoanCapital Investments, then, upon the expiration of the applicable Interest Yield Period, such Loan will Capital Investments shall, subject to Section 3.2, be automatically converted to continued as Capital Investments bearing Yield at the Applicable LIBO Rate with a Base Rate Loan.
(e) Yield Period of one month. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Receivables Purchase Agreement (Fidelity National Information Services, Inc.)
Conversion/Continuation Option. (a) The Each Borrower may elect (i) (A) at any time on any Business Day to convert Base Rate Loans (other than Swing Swingline Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (iiB) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of at least $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof, and (ii) (A) at any time on any Business Day to convert Swingline Loans that are Base Rate Loans or any portion thereof to LMIR Loans and (B) to convert LMIR Rate Loans or any portion thereof into Base Rate Loans; provided, however, that the aggregate amount of the LMIR Loans must be in the amount of at least $100,000 or an integral multiple of $100,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Notice of Conversion or Continuation”) and shall be made by the Parent Borrower giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iw) whether the Parent Borrower is requesting such conversion or continuation on behalf of itself or for another Borrower (and if on behalf of another Borrower, the identity of such Borrower), (x) the amount and type of Loan being converted or continued, (iiy) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiz) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, a Eurodollar Rate Loan would violate any provision of the provisions of Section 2.14.
2.13 (d) Special Provisions Governing Eurodollar Rate Loans). If, within the time period required under the terms of this Section 2.112.10, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Parent Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Revolving Credit Agreement (Boardwalk Pipeline Partners, LP)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day Day, to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of at least $10,000,000 or an integral multiple of $1,000,000 5,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Revolving Credit Lender in accordance with such Revolving Credit Lender’s 's Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Form of Notice of Conversion or Continuation”) (a "Notice of Conversion or Continuation") and shall be made by giving the Administrative Agent at least three (3) Business Days’ ' prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, (i) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans shall be permitted at any time prior to the Syndication Completion Date unless the Borrower shall agree in writing to pay any breakage costs incurred in connection therewith pursuant to Section 2.14(e) (Breakage Costs) and (ii) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, a Eurodollar Rate Loan would violate any of the provisions provision of Section 2.14.
2.14 (d) Special Provisions Governing Eurodollar Rate Loans). If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Credit Agreement (WCI Steel, Inc.)
Conversion/Continuation Option. (a) The At any time prior to the Conversion Date, the Borrower may elect (i) on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of at least $10,000,000 1,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) 's Pro Rata Share. Each such election shall be in substantially the form of Exhibit F hereto B (a “Form of Notice of Conversion or Continuation”) (a "Notice of Conversion or Continuation") and shall be made by giving the Administrative Agent at least three (3) Business Days’ ' prior written notice specifying (iA) the amount and type Type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each applicable Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, (i) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans having Interest Periods which are longer than one week shall be permitted at any time prior to the date that is thirty days after the Funding Date and (ii) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, a Eurodollar Rate Loan would violate any provision of the provisions Sections 3.02 (Illegality), 3.03 (Determination of Section 2.14.
Rates; Inability to Determine Rates), 3.04 (dIncreased Cost and Reduced Return; Capital Adequacy) or 3.05 (Funding Losses). If, within the time period required under the terms of this Section 2.112.10, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans, Each Notice of Conversion or Continuation shall be irrevocable.
(c) All Initial Loans that become Extended Loans shall be automatically converted to, or continued as Eurodollar Rate Loans on the Conversion Date and, subject to Sections 3.02 (Illegality), 3.03 (Determination of Rates; Inability to Determine Rates), 3.04 (Increased Cost and Reduced Return; Capital Adequacy) and 3.05 (Funding Losses), shall be continued as Eurodollar Rate Loans on each three-month anniversary thereof without the need for the Borrower to submit a Notice of Conversion or Continuation.
Appears in 1 contract
Sources: Senior Unsecured Term Loan Agreement (Psychiatric Solutions Inc)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Eurocurrency Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Eurocurrency Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Eurocurrency Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Eurocurrency Loans for each Interest Period must be in the amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereofthat is not less than the applicable Minimum Currency Threshold. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s 's Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Form of Notice of Conversion or Continuation”) (a "Notice of Conversion or Continuation") and shall be made by giving the applicable Administrative Agent at least three (3or, in the case of conversion of Eurocurrency Rate Loans to Base Rate Loans, one) Business Days’ ' prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Eurocurrency Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). The b) Each Administrative Agent shall promptly notify each applicable Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, (i) Optional Currency Loans may not be converted into Base Rate Loans and (ii) no conversion in whole or in part of Base Rate Loans to Eurodollar Eurocurrency Rate Loans, Loans and no continuation in whole or in part of Eurodollar Eurocurrency Rate Loans denominated in Dollars upon the expiration of any applicable Interest Period, shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, a Eurocurrency Rate Loan would violate any of the provisions provision of Section 2.14.
2.15 (d) Special Provisions Governing Eurocurrency Rate Loans). If, within the time period required under the terms of this Section 2.112.12, the applicable Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Eurocurrency Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans, if denominated in Dollars, shall be automatically converted to a Base Rate Loan.
(e) Loans and such Loans, if denominated in any one or more of the Optional Currencies, shall be automatically continued as Eurocurrency Loans with an interest period of one month. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower may elect (i) on at any Business Day time to convert Base Rate Loans (other than Swing Line Loans) or any portion thereof to Eurodollar LIBO Rate LoansDollar Loans in an Applicable Currency Denomination, or (ii) at the end of any applicable Interest Period, time to convert Eurodollar LIBO Rate Dollar Loans or any portion thereof into Base Rate Loans or in an Applicable Currency Denomination, (iii) at the end of any applicable Interest Period to continue such Eurodollar LIBO Rate Loans or any portion thereof in an Applicable Currency Denomination for an additional Interest Period in the same Applicable Currency, or (iv) at the end of any Interest Period for any LIBO Loans comprising all or a portion of the Tranche A (Euro) Term Loan, to continue such LIBO Loans or any portion thereof that is at least €5,000,000 (but is not in an Applicable Currency Denomination) for an additional Interest Period, so long as all other LIBO Loans comprising the Tranche A (Euro) Term Loan are in an Applicable Currency Denomination; provided, however, that that, if any such conversion of any LIBO Rate Dollar Loan is made pursuant to clause (ii) above other than on the aggregate amount last day of the Eurodollar Loans for each an Interest Period must be in for such Loan, the amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereofBorrower shall also pay any amounts owing pursuant to Section 2.14(e). Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s its Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F E hereto (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying no later than 12:00 noon (iNew York City time) on the date three Business Days (other than in the case of a continuation of any Euro Loan) or four Business Days (in the case of a continuation of any Euro Loan) in advance of the relevant conversion or continuation, which notice shall specify (A) the amount amount, type and type Applicable Currency of Loan being converted or continued, (iiB) in the case of a conversion to LIBO Rate Dollar Loans or a continuation of Eurodollar LIBO Rate Loans, the applicable Interest Period, and (iiiC) in the case of a conversion, the date of conversion (which date shall be a Business Day andDay) and (D) in the case of any conversion or continuation of any Revolving Loan, if a conversion from Eurodollar Rate Loans, shall also be the last day aggregate outstanding principal liability of the applicable Interest Period)Borrower under any Foreign Overdraft Guaranties on such date of conversion or continuation. In lieu of giving a Notice of Conversion or Continuation for any conversion or continuation, the Borrower may give the Administrative Agent telephonic notice prior to the time required for giving a Notice of Conversion or Continuation; provided, however, that such telephonic notice shall be promptly confirmed in writing by delivery of a duly executed Notice of Conversion or Continuation to the Administrative Agent prior to the date of conversion or continuation.
(b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation (or of telephonic notice duly given in lieu thereof) and of the options selected therein.
(c) . Notwithstanding the foregoing, (i) Euro Loans may not be converted into Base Rate Loans or into LIBO Rate Dollar Loans; (ii) no conversion in whole or in part of Base Rate Loans to Eurodollar LIBO Rate Dollar Loans, and no continuation in whole or in part of Eurodollar LIBO Rate Dollar Loans upon the expiration of any applicable Interest Period, and no election of an Interest Period in excess of one month in respect of any Euro Loans, shall be permitted at any time at which a Default or an Event of Default shall have occurred and be continuing; and (iii) no conversion in whole or in part of Base Rate Loans to LIBO Rate Dollar Loans, and no continuation in whole or in part of LIBO Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (A) a Default such conversion into, or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) . If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar LIBO Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, (i) if such Loan Loans are LIBO Rate Dollar Loans, such Loans will be automatically converted to a Base Rate Loan.
Loans or (eii) if such Loans are Euro Loans, such Loans shall be automatically continued as Euro Loans with an Interest Period of one month. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day Day, to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of at least $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s 's Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto D (a “Form of Notice of Conversion or Continuation”) (a "Notice of Conversion or Continuation") and shall be made by giving the Administrative Agent at least three (3) Business Days’ ' prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, (i) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans shall be permitted at any time prior to the Syndication Completion Date and (ii) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, a Eurodollar Rate Loan would violate any of the provisions provision of Section 2.14.
2.12 (d) Special Provisions Governing Eurodollar Rate Loans). If, within the time period required under the terms of this Section 2.112.9, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Second Lien Credit Agreement (Tecumseh Products Co)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day to convert its Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar LIBO Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar its LIBO Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar any LIBO Rate Loans Loan or any portion thereof for an additional Interest Period; provided, however, provided that the aggregate amount of the Eurodollar LIBO Rate Loans for each Interest Period must be in the amount of that is not less than $10,000,000 or an integral multiple of $1,000,000 in excess thereof1,000,000. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) Portion of the applicable Facility. Each such election shall be in substantially the form of Exhibit F hereto (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount amount, Tranche and type Type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar LIBO Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its the Administrative Agent’s receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, (i) no conversion in whole or in part of Base Rate Loans to Eurodollar LIBO Rate Loans, and (ii) no continuation in whole or in part of Eurodollar LIBO Rate Loans upon the expiration of any applicable Interest Period, Period and (iii) no election of an Interest Period in excess of one month in respect of LIBO Rate Loans shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing (unless the Requisite Lenders otherwise consent) or (B) the continuation of, or conversion into, a LIBO Rate Loan would violate any of the provisions provision of Section 2.14.
(d) . If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar LIBO Rate Loan Loans for an additional Interest Period or to convert any such LoanLIBO Rate Loans, then, upon the expiration of the applicable Interest Period, such Loan will LIBO Rate Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Each Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Eurocurrency Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Eurocurrency Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Eurocurrency Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Eurocurrency Rate Loans for each Interest Period must be in not less than the amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereofMinimum Currency Threshold. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Eurocurrency Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Eurocurrency Rate Loans, Loans and no continuation in whole or in part of Eurodollar Eurocurrency Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, a Eurocurrency Rate Loan would violate any of the provisions provision of Section 2.14.
2.14 (d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert any such Loan, then, upon the expiration of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
(e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Credit Agreement (Affiliated Computer Services Inc)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day Day, to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of at least $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Revolving Credit Lender in accordance with such Revolving Credit Lender’s 's Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Form of Notice of Conversion or Continuation”) (a "Notice of Conversion or Continuation") and shall be made by giving the Administrative Agent at least three (3) Business Days’ ' prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, (i) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans shall be permitted at any time prior to the Syndication Completion Date and (ii) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, a Eurodollar Rate Loan would violate any of the provisions provision of Section 2.14.
2.14 (d) Special Provisions Governing Eurodollar Rate Loans). If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower may elect (i) on at any Business Day time to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, Loans or (ii) at the end of any applicable Interest PeriodPeriod with respect thereto, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans Loans, or to continue such Eurodollar Rate Loans or any portion thereof as Eurodollar Rate Loans for an additional Interest Period; providedPROVIDED, howeverHOWEVER, that the aggregate amount of the Eurodollar Rate Loans of the Borrower so converted or so continued for each Interest Period must be in the amount of $10,000,000 5,000,000 or an integral multiple of $1,000,000 5,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) Each such election shall be in substantially the form of Exhibit F B hereto (a “"Notice of Conversion or Continuation”") and shall be made by giving the Administrative Agent at least one Business Day's, in the case of a conversion to a Base Rate Loan, and three (3) Business Days’ ', in the case of a conversion to or a continuation of a Eurodollar Rate Loan, prior written notice thereof specifying (iA) the amount and type of Loan being converted conversion or continuedcontinuation, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest PeriodPeriod therefor, and (iiiC) in the case of a conversion, conversion the date of conversion (which date shall be a Business Day and, if a conversion from a Eurodollar Rate LoansLoan, shall also be the last day of the applicable Interest PeriodPeriod therefor). The Administrative Agent shall promptly (but in any event on the same day) notify each Lender Bank of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) contents thereof. Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest PeriodPeriod therefor, shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) continuing. If, within the time period required under the terms of this Section 2.115.1, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted an election to continue all or any Loan that is a portion of the Eurodollar Rate Loan Loans for an additional Interest Period or to convert all or any portion of such LoanLoans, then, upon the expiration of the applicable Interest PeriodPeriod therefor, such Loan Loans or the portions thereof for which an election to continue or convert has not been made will be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Credit Agreement (Blockbuster Inc)
Conversion/Continuation Option. (a) The Borrower may elect (i) on at any Business Day time after the date hereof to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or (ii) at the end of any applicable Interest PeriodPeriod with respect thereto, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans Loans, or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Rate Loans for each Interest Period therefor must be in the amount of $10,000,000 5,000,000 or an integral multiple of $1,000,000 500,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender all Lenders in accordance with such Lender’s their Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F B hereto (a “"Notice of Conversion or Continuation”") and shall be made by giving the Administrative Agent at least three (3) Business Days’ ' prior written notice thereof specifying (iA) the amount and type of Loan being converted conversion or continuedcontinuation, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest PeriodPeriod therefor, and (iiiC) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest PeriodPeriod therefor). The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) contents thereof and such Lender's Ratable Portion of the Loans to be converted. Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest PeriodPeriod therefor, shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) continuing. If, within the time period required under the terms of this Section 2.112.7, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest PeriodPeriod therefor, such Loan Loans will be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of at least $10,000,000 1,000,000 or an integral multiple of $1,000,000 500,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto D (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert would violate any such Loan, then, upon the expiration provision of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
Section 2.12 (e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower Borrowers may elect (i) on any Business Day to convert Alternate Base Rate Loans (other than Swing Loans) of any Class or any portion thereof to Eurodollar Rate Loans, or (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans of any Class or any portion thereof into Alternate Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender on a pro rata basis based on the respective principal amounts of the Loans of the applicable Class held by each Lender in accordance with such Lender’s Ratable Portion.
(b) Each such election shall be in substantially the form of Exhibit F C hereto (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (i) the amount amount, Class and type Type of Loan being converted or continued, (ii) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, and (iii) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) Notwithstanding the foregoing, no conversion in whole or in part of Alternate Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower Borrowers containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert any such Loan, then, upon the expiration of the applicable Interest Period, such Loan will be automatically converted to a Alternate Base Rate Loan.
(e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower U.S. Borrower, on its behalf or on behalf of any Euro Borrower, may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Eurocurrency Rate Loans, Loans or (ii) at the end of any applicable Interest Period, to convert Eurodollar Eurocurrency Rate Loans denominated in Dollars or any portion thereof into Base Rate Loans or to continue such Eurodollar Eurocurrency Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Eurocurrency Loans converted or continued for each Interest Period must be in the amount of at least $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
. Subject to clause (b) Each below, each such election shall be in substantially the form of Exhibit F hereto E (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Eurocurrency Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar Eurocurrency Rate Loans, shall also be the last day of the applicable Interest Period). .
(b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Eurocurrency Rate Loans, and no continuation in whole or in part of Eurodollar Eurocurrency Rate Loans denominated in Dollars upon the expiration of any applicable Interest Period, shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, a Eurocurrency Rate Loan would violate any of the provisions provision of Section 2.14.
2.15 (d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert any such Loan, then, upon the expiration of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
(e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Credit Agreement (FMC Corp)
Conversion/Continuation Option. (a) The Each Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of at least $10,000,000 1,000,000 or an integral multiple of $1,000,000 100,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto E (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice (or, in the case of the conversion of a Eurodollar Rate Loan to a Base Rate Loan, one Business Day’s prior written notice) specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, a Eurodollar Rate Loan would violate any of the provisions provision of Section 2.14.
(d) . If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the applicable Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Credit Agreement (Prologis)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Rate Loans for each Interest Period must be in the an amount of $10,000,000 or that is an integral multiple of $1,000,000 in excess thereof1,000,000.00. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (ior telephonic notice promptly confirmed in writing) specifying, in each case, (A) the amount and type Type of Loan Loans being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at during which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion into, a Eurodollar Rate Loan would violate any of the provisions provision of Section 2.14.
(d) . If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day Day, to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of at least $10,000,000 1,000,000 or an integral multiple of $1,000,000 500,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, (i) no Loan may be extended as, nor may conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans be permitted, at any time prior to the earlier to occur of the Syndication Completion Date and thirty days following the Closing Date (it being understood that if the Borrower elects to incur or convert any Loan as a Eurodollar Rate Loan prior to the Syndication Completion Date, the Borrower shall cause the Interest Period for such Loan to be terminated at the request of the Administrative Agent in order to permit a new Lender to become party to the Credit Agreement and the Borrower shall be liable for any breakage costs associated therewith) and (ii) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert would violate any such Loan, then, upon the expiration provision of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
Section 2.14 (e) Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Credit Agreement (Us Concrete Inc)
Conversion/Continuation Option. The Borrowers may elect (a) The Borrower may elect (i) on at any Business Day time to convert Loans from Base Rate Loans (other than Swing Loans) to Federal Funds Loans or any portion thereof to Eurodollar Rate Loans, Loans or (iib) at the end of any applicable Interest PeriodPeriod with respect to Eurodollar Rate Loans, to convert Eurodollar Rate Loans to Federal Funds Rate Loans or any portion thereof into Base Rate Loans Loans, or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, howeveror (c) at the end of any Interest Period to convert Federal Funds Rate Loans to Base Rate Loans or Eurodollar Rate Loans, that the aggregate amount of the Eurodollar or to continue such Federal Funds Rate Loans for each an additional Interest Period must be in the amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereofPeriod. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) Each such election shall be in substantially the form of Exhibit EXHIBIT F hereto (a “"Notice of Conversion or Continuation”") and shall be made by giving the Administrative Agent at least (x) in the case of conversions to or continuations of Eurodollar Rate Loans, three (3) Business Days’ ' prior written notice specifying thereof and (y) in the case of conversions to, or continuations of, Federal Funds Rate Loans or Base Rate Loans, one Business Day's prior written notice thereof, specifying: (i) the amount and type of Loan being converted conversion or continuedcontinuation, (ii) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest PeriodPeriod therefor, and (iii) in the case of a conversion, the date of conversion (conversion, which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period)Day. The Administrative Agent shall promptly notify each Lender Bank of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) contents thereof. Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to either Federal Funds Rate Loans or Eurodollar Rate Loans, and no continuation in whole of either Federal Funds Rate Loans or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest PeriodPeriod therefor, shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) continuing. If, within the time period required under the terms term of this Section 2.112.12, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower Borrowers containing a permitted an election to continue any Loan that is a either Federal Funds Rate Loans or Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans to another Type, then, upon the expiration of the applicable Interest PeriodPeriod therefor, such Loan Loans will be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Credit Agreement (Tosco Corp)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day Day, to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Eurocurrency Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Eurocurrency Rate Loans denominated in Dollars or any portion thereof into Base Rate Loans or to continue such Eurodollar any (x) Eurocurrency Rate Loans or (y) EURIBOR Rate Loans, or, in each case, any portion thereof thereof, for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Eurocurrency Rate Loans or EURIBOR Rate Loans for each Interest Period must be in the amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereofthe applicable Minimum Threshold. Each conversion or continuation shall be allocated among the Loans of each Revolving Credit Lender in accordance with such Revolving Credit Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Eurocurrency Rate Loans or EURIBOR Rate Loans, as applicable, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation pursuant to Section 2.11(a) above and of the options selected therein.
(c) . Notwithstanding the foregoing, (i) no conversion in whole or in part of Base Rate Loans to Eurodollar Eurocurrency Rate Loans, Loans and no continuation in whole or in part of Eurodollar Rate Revolving Loans denominated in an Alternative Currency (other than to Revolving Loans having an Interest Period of one week or one month) upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, a Eurocurrency Rate Loan would violate any of the provisions of Section 2.14.
(d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan for an additional Interest Period or to convert any such Loan, then, upon the expiration of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
(e) Each Notice of Conversion or Continuation shall be irrevocable.provision AMENDED AND RESTATED CREDIT AGREEMENT ▇▇▇▇▇ HEALTHCARE CORPORATION
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower U.S. Borrower, on its behalf or on behalf of any Euro Borrower, may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Eurocurrency Rate Loans, Loans or (ii) at the end of any applicable Interest Period, to convert Eurodollar Eurocurrency Rate Loans denominated in Dollars or any portion thereof into Base Rate Loans or to continue such Eurodollar Eurocurrency Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Eurocurrency Loans converted or continued for each Interest Period must be in the amount of at least $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
. Subject to clause (b) Each below, each such election shall be in substantially the form of Exhibit F hereto E (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Eurocurrency Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar Eurocurrency Rate Loans, shall also be the last day of the applicable Interest Period). .
(b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Eurocurrency Rate Loans, and no continuation in whole or in part of Eurodollar Eurocurrency Rate Loans denominated in Dollars upon the expiration of any applicable Interest Period, shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Eurocurrency Rate Loan for an additional Interest Period or to convert any such Loan, then, upon the expiration of the applicable Interest Period, such Loan will be automatically converted to a Base Rate Loan.
(e) Each Notice of Conversion or Continuation shall be irrevocable.CREDIT AGREEMENT FMC CORPORATION
Appears in 1 contract
Sources: Credit Agreement (FMC Corp)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day Day, to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Eurocurrency Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Eurocurrency Rate Loans or any portion thereof into Base Rate Loans Loans, or to continue such Eurodollar Eurocurrency Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Eurocurrency Rate Loans for each Interest Period must be in the amount of at least $10,000,000 500,000 or an integral multiple of $1,000,000 100,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three two (32) Business Days’ prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Eurocurrency Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, the Administrative Agent or the Requisite Lenders may require by notice to the Borrower that no conversion in whole or in part of Base Rate Loans to Eurodollar Eurocurrency Rate Loans, Loans and no continuation in whole or in part of Eurodollar Eurocurrency Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, a Eurocurrency Rate Loan would violate any of the provisions provision of Section 2.14.
(d) . If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Eurocurrency Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower may elect (i) on at any Business Day time to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar LIBO Rate LoansDollar Loans in an Applicable Currency Denomination, or (ii) at the end of any applicable Interest Period, time to convert Eurodollar LIBO Rate Dollar Loans or any portion thereof into Base Rate Loans or in an Applicable Currency Denomination, (iii) at the end of any applicable Interest Period to continue such Eurodollar LIBO Rate Loans or any portion thereof in an Applicable Currency Denomination for an additional Interest Period in the same Applicable Currency, or (iv) at the end of any Interest Period for any LIBO Loans comprising all or a portion of the Tranche A (Euro) Term Loan, to continue such LIBO Loans or any portion thereof that is at least EURO 5,000,000 (but is not in an Applicable Currency Denomination) for an additional Interest Period, so long as all other LIBO Loans comprising the Tranche A (Euro) Term Loan are in an Applicable Currency Denomination; providedPROVIDED, howeverHOWEVER, that that, if any such conversion of any LIBO Rate Dollar Loan is made pursuant to clause (ii) above other than on the aggregate amount last day of the Eurodollar Loans for each an Interest Period must be in for such Loan, the amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereofBorrower shall also pay any amounts owing pursuant to Section 2.14(e). Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s its Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F E hereto (a “Notice of Conversion or Continuation”"NOTICE OF CONVERSION OR CONTINUATION") and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying no later than 12:00 noon (iNew York City time) on the date three Business Days (other than in the case of a continuation of any Euro Loan) or four Business Days (in the case of a continuation of any Euro Loan) in advance of the relevant conversion or continuation, which notice shall specify (A) the amount amount, type and type Applicable Currency of Loan being converted or continued, (iiB) in the case of a conversion to LIBO Rate Dollar Loans or a continuation of Eurodollar LIBO Rate Loans, the applicable Interest Period, and (iiiC) in the case of a conversion, the date of conversion (which date shall be a Business Day andDay) and (D) in the case of any conversion or continuation of any Revolving Loan, if a conversion from Eurodollar Rate Loans, shall also be the last day aggregate outstanding principal liability of the applicable Interest Period)Borrower under any Foreign Overdraft Guarantees on such date of conversion or continuation. In lieu of giving a Notice of Conversion or Continuation for any conversion or continuation, the Borrower may give the Administrative Agent telephonic notice prior to the time required for giving a Notice of Conversion or Continuation; PROVIDED, HOWEVER, that such telephonic notice shall be promptly confirmed in writing by delivery of a duly executed Notice of Conversion or Continuation to the Administrative Agent prior to the date of conversion or continuation.
(b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation (or of telephonic notice duly given in lieu thereof) and of the options selected therein.
(c) . Notwithstanding the foregoing, (i) Euro Loans may not be converted into Base Rate Loans or into LIBO Rate Dollar Loans; (ii) no conversion in whole or in part of Base Rate Loans to Eurodollar LIBO Rate Dollar Loans, and no continuation in whole or in part of Eurodollar LIBO Rate Dollar Loans upon the expiration of any applicable Interest Period, and no election of an Interest Period in excess of one month in respect of any Euro Loans, shall be permitted at any time at which a Default or an Event of Default shall have occurred and be continuing; and (iii) no conversion in whole or in part of Base Rate Loans to LIBO Rate Dollar Loans, and no continuation in whole or in part of LIBO Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (A) a Default such conversion into, or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) . If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar LIBO Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, (i) if such Loan Loans are LIBO Rate Dollar Loans, such Loans will be automatically converted to a Base Rate Loan.
Loans or (eii) if such Loans are Euro Loans, such Loans shall be automatically continued as Euro Loans with an Interest Period of one month. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Administrative Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that (x) on or prior to the date that is 18 months after the Effective Date, all Term Loans that are Eurodollar Rate Loans shall have the same Interest Period and (y) the aggregate amount of the Eurodollar Rate Loans for each Interest Period must be in the amount of $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Term Loans of each Lender in accordance with such each applicable Lender’s Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (iA) the amount and type Type of Term Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, and (iiiC) in the case of a conversion, the date of conversion conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion intointo Eurodollar Rate Loans, would violate or otherwise not be permitted under any of the provisions of Section 2.14.
(d) 2.13. If, within the time period required under the terms of this Section 2.112.10, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Administrative Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanTerm Loans, then, upon the expiration of the applicable Interest Period, such Loan will Term Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; providedPROVIDED, howeverHOWEVER, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof1,000,000. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s 's Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit EXHIBIT F hereto (FORM OF NOTICE OF CONVERSION OR CONTINUATION) (a “Notice of Conversion or Continuation”"NOTICE OF CONVERSION OR CONTINUATION") and shall be made by giving the Administrative Agent at least three (3) Business Days’ ' prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, (i) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate LoansLoans shall be permitted at any time prior to the Syndication Completion Date, (ii) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or and the Administrative Agent shall have received instructions from the Requisite Lenders to that effect, (B) the continuation of, or conversion into, a Eurodollar Rate Loan would violate any provision of SECTION 2.14 (SPECIAL PROVISIONS GOVERNING EURODOLLAR RATE LOANS) or (C) any Material Event of Default shall have occurred and be continuing and (iii) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans having an Interest Period greater than one month and no continuation in whole or in part of Eurodollar Rate Loans into Eurodollar Rate Loans upon the provisions expiration of Section 2.14.
(d) any applicable Interest Period into Eurodollar Rate Loans having an Interest Period greater than one month shall be permitted at any time at which an Event of Default shall have occurred and be continuing. If, within the time period required under the terms of this Section SECTION 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Credit Agreement (Prestige Brands International, Inc.)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of at least $10,000,000 2,000,000 or an integral multiple of $1,000,000 500,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s 's Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto (a “Form of Notice of Conversion or Continuation”) (a "Notice of Conversion or Continuation") and shall be made by giving the Administrative Agent at least three (3) Business Days’ ' prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion such conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, (i) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, Loans shall be permitted at any time prior to the Syndication Completion Date and (ii) no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, a Eurodollar Rate Loan would violate any of the provisions provision of Section 2.14.
2.14 (d) Special Provisions Governing Eurodollar Rate Loans). If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans, Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Credit Agreement (Edo Corp)
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day Day, to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Eurocurrency Rate Loans, or and (ii) at the end of any applicable Interest Period, to convert Eurodollar Eurocurrency Rate Loans or any portion thereof into Base Rate Loans Loans, or to continue such Eurodollar Eurocurrency Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Eurocurrency Rate Loans for each Interest Period must be in the amount of at least $10,000,000 500,000 or an integral multiple of $1,000,000 100,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion.5339129.14 54
(b) Each such election shall be in substantially the form of Exhibit F hereto (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three (3) Business Days’ prior written notice specifying (i) the amount and type of Loan being converted or continued, (ii) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, and (iii) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, the Administrative Agent or the Requisite Lenders may require by notice to the Borrower that no conversion in whole or in part of Base Rate Loans to Eurodollar Eurocurrency Rate Loans, and no continuation in whole or in part of Eurodollar Eurocurrency Rate Loans upon the expiration of any applicable Interest Period, Period shall be permitted at any time at which (A) a Default or an Event of Default shall have occurred and be continuing or (B) the continuation of, or conversion into, a Eurocurrency Rate Loan would violate any of the provisions provision of Section 2.14.
(d) . If, within the time period required under the terms of this Section 2.11, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Eurocurrency Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan will Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Sources: Credit Agreement (eHealth, Inc.)
Conversion/Continuation Option. (a) The Borrower Borrowers may elect (i) on at any Business Day time to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of $10,000,000 1,000,000 or an integral multiple of $1,000,000 500,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s its Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F G hereto (a “"Notice of Conversion or Continuation”") and shall be made by giving the Administrative Agent at least three (3) Business Days’ ' prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, and (iiiC) in the case of a conversion, the date of conversion (which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). .
(b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans to other Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion into, would violate any of the provisions of Section 2.14.
(d) 2.12. If, within the time period required under the terms of this Section 2.112.9, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower Borrowers containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Period, such Loan Loans will be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract
Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans, or Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans Loan or to continue such Eurodollar Rate Loans or any portion thereof for an any additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Rate Loans for each Interest Period must be in the amount of at least $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Bridge Loans of each Lender in accordance with such Lender’s 's Ratable Portion.
(b) . Each such election shall be in substantially the form of Exhibit F hereto D (a “Form of Notice of Conversion or Continuation”) (a "Notice of Conversion of Continuation") and shall be made by giving the Administrative Agent at least three (3) Business Days’ ' prior written notice specifying (iA) the amount and type of Loan being converted or continued, (iiB) in the case of a conversion to or a continuation of Eurodollar Rate Loans, the applicable Interest Period, Period and (iiiC) in the case of a conversion, the date of conversion conversion.
(which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period). b) The Administrative Agent shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein.
(c) . Notwithstanding the foregoing, no conversion in whole or in part of Base Rate Loans to Eurodollar Rate Loans, and no continuation in whole or in part of Eurodollar Rate Loans upon the expiration of any applicable Interest Period, shall be permitted at any time at which (Ai) a Default or an Event of Default shall have occurred and be continuing or (Bii) the continuation of, or conversion into, a Eurodollar Rate Loan would violate any of the provisions provision of Section 2.14.
(d) 2.10. If, within the time period required under the terms of this Section 2.112.14, the Administrative Agent does not receive a Notice of Conversion or Continuation from the Borrower containing a permitted election to continue any Loan that is a Eurodollar Rate Loan Loans for an additional Interest Period or to convert any such LoanLoans, then, upon the expiration of the applicable Interest Periodperiod, such Loan will Bridge Loans shall be automatically converted to a Base Rate Loan.
(e) Loans. Each Notice of Conversion or Continuation shall be irrevocable.
Appears in 1 contract