Common use of Conversion of Base Rate Advances Clause in Contracts

Conversion of Base Rate Advances. Provided that no Default or Event of Default has occurred which is then continuing, Borrower may, on any Business Day, convert any Revolving Credit Loan which is a Base Rate Advance into a LIBOR Advance. If Borrower desires to convert such a Base Rate Advance, Borrower shall give Agent not less than three (3) Business Days' prior written notice (prior to 10:00 a.m. Los Angeles time on such Business Day), specifying the date of such conversion and the amount to be converted; provided that only two (2) Business Days' notice shall be required to convert the Loans made on the Restatement Date. Each conversion into or conversion of a LIBOR Advance shall be in a minimum principal amount of $2,000,000 and may increase in integral multiples of $100,000 in excess thereof. After giving effect to any conversion of Base Rate Advances to LIBOR Advances, Borrower shall not be permitted to have outstanding at any one time LIBOR Advances with more than eight (8) different Interest Periods.

Conversion of Base Rate Advances. Provided that no Default or Event of Default has occurred which is then continuing, Borrower may, on any Business Day, convert any Revolving Credit Loan which is a Base Rate Advance into a LIBOR Advance. If Borrower desires to convert such a Base Rate Advance, Borrower shall give Agent not less than three (3) Business Days' prior written notice (prior to 10:00 a.m. a.m Los Angeles time on such Business Day), specifying the date of such conversion and the amount to be converted; provided that only two (2) Business Days' notice shall be required to convert the Loans made on the Restatement Date. Each conversion into or conversion of a LIBOR Advance shall be in a minimum principal amount of $2,000,000 and may increase in integral multiples of $100,000 in excess thereof; provided that only two (2) Business Days' notice shall be required to convert the Loans made on the Closing Date. After giving effect to any conversion of Base Rate Advances to LIBOR Advances, Borrower shall not be permitted to have outstanding at any one time LIBOR Advances with more than eight (8) different Interest Periods.