Common use of Conversion to Different Type of Loan Clause in Contracts

Conversion to Different Type of Loan. The Borrowers may elect from time to time to convert any outstanding Loan to a Loan of another Type, provided that (i) with respect to any such conversion of a Loan to a Base Rate Loan, the Borrowers shall give the Agent, no later than 2:00 p.m. (Boston time) on the proposed date of such conversion, prior written notice of such election; (ii) with respect to any such conversion of a Base Rate Loan to a Eurodollar Rate Loan, the Borrowers shall give the Agent, no later than 10:00 a.m. (Boston time) at least three (3) Eurodollar Business Days prior to the proposed date of such conversion, written notice of such election; (iii) with respect to any such conversion of a Eurodollar Rate Loan into a Loan of another Type, such conversion shall only be made on the last day of the Interest Period with respect thereto and (iv) no Loan may be converted into a Eurodollar Rate Loan when any Default or Event of Default has occurred and is continuing. On the date on which such conversion is being made each Lender shall take such action as is necessary to transfer its Commitment Percentage of such Loans to its Domestic Lending Office or its Eurodollar Lending Office, as the case may be. All or any part of outstanding Loans of any Type may be converted into a Loan of another Type as provided herein, provided that any partial conversion of a Eurodollar Rate Loan to a Base Rate Loan shall be in an aggregate principal amount of at least $100,000, and any partial conversion of a Base Rate Loan to a Eurodollar Rate Loan shall be in an aggregate principal amount of at least $1,000,000 or an integral multiple of $500,000 in excess thereof. Each Conversion Request relating to the conversion of a Loan to a Eurodollar Rate Loan shall be irrevocable by the Borrowers.

Conversion to Different Type of Loan. The Borrowers applicable Borrower may elect from time to time to convert any outstanding Loan to a Loan of another Type, provided that (ia) with respect to any such conversion of a SOFR Loan to a Base Rate Loan, a Base Rate Loan to a SOFR Loan, a Term SOFR Loan to a Daily SOFR Loan, or a Daily SOFR Loan to a Term SOFR Loan, the Borrowers applicable Borrower shall give the Administrative Agent written notice (including notice given via an electronic platform or electronic transmission system approved by the Administrative Agent, ) no later than 2:00 p.m. 11:00 a.m. (Boston Eastern time) on the proposed date of such conversion, at least three (3) Business Days prior written notice of to such election; (iib) [reserved]; (c) with respect to any such conversion of an Alternative Currency Loan, the applicable Borrower shall give the Administrative Agent written notice (including notice given via an electronic platform or electronic transmission system approved by the Administrative Agent) no later than 11:00 a.m. (Eastern time) at least four (4) Business Days (or five (5) Business Days in the case of a Special Notice Currency) prior to such election; (d) with respect to any such conversion of a Base Rate Term SOFR Loan to a Eurodollar Rate Loan, the Borrowers shall give the Agent, no later than 10:00 a.m. (Boston time) at least three (3) Eurodollar Business Days prior to the proposed date of such conversion, written notice of such election; (iii) with respect to any such conversion of a Eurodollar or an Alternative Currency Term Rate Loan into a Loan of another TypeBase Rate Loan, such conversion shall only be made on the last day of the Interest Period with respect thereto and (ive) no Loan may be converted into a Eurodollar SOFR Loan, Alternative Currency Daily Rate Loan, or an Alternative Currency Term Rate Loan when any Default or Event of Default has occurred and is continuing. On the date on DB3/ 204224713.6 42 which such conversion is being made each Lender shall take such action as is necessary to transfer its Commitment Percentage of such Loans to its Domestic Lending Office or its Eurodollar Lending Office, as the case may be. All or any part of outstanding Loans of any Type may be converted into a Loan of another Type as provided herein, provided provided, that any partial conversion of a Eurodollar Rate Loan to a Base Rate Loan shall be in an aggregate principal amount of at least $100,000, and any partial conversion of 500,000 or a Base Rate Loan to a Eurodollar Rate Loan shall be in an aggregate principal amount of at least $1,000,000 or an integral whole multiple of $500,000 100,000 in excess thereof. Each Conversion Request relating to the conversion of a Loan (other than a conversion to a Eurodollar Base Rate Loan Loan) shall be irrevocable by the Borrowers. No Loan may be converted into a Loan denominated in a different currency, but instead must be prepaid in the original currency of such Loan and reborrowed in the other currency.

Conversion to Different Type of Loan. The Borrowers applicable Borrower may elect from time to time to convert any outstanding Loan to a Loan of another Type, provided that (ia) with respect to any such conversion of a SOFR Loan to a Base Rate Loan, a Base Rate Loan to a SOFR Loan, a Term SOFR Loan to a Daily SOFR Loan, or a Daily SOFR Loan to a Term SOFR Loan, the Borrowers applicable Borrower shall give the Administrative Agent written notice (including notice given via an electronic platform or electronic transmission system approved by the Administrative Agent, ) no later than 2:00 p.m. 11:00 a.m. (Boston Eastern time) on the proposed date of such conversion, at least three (3) Business Days prior written notice of to such election; (iib) [reserved]; (c) with respect to any such conversion of an Alternative Currency Loan, the applicable Borrower shall give the Administrative Agent written notice (including notice given via an electronic platform or electronic transmission system approved by the Administrative Agent) no later than 11:00 a.m. (Eastern time) at least four (4) Business Days (or five (5) Business Days in the case of a Special Notice Currency) prior to such election; (d) with respect to any such conversion of a Base Rate Term SOFR Loan to a Eurodollar Rate Loan, the Borrowers shall give the Agent, no later than 10:00 a.m. (Boston time) at least three (3) Eurodollar Business Days prior to the proposed date of such conversion, written notice of such election; (iii) with respect to any such conversion of a Eurodollar or an Alternative Currency Term Rate Loan into a Loan of another TypeBase Rate Loan, such conversion shall only be made on the last day of the Interest Period with respect thereto and (ive) no Loan may be converted into a Eurodollar SOFR Loan, Alternative Currency Daily Rate Loan, or an Alternative Currency Term Rate Loan when any Default or Event of Default has occurred and is continuing. On the date on which such conversion is being made each Lender shall take such action as is necessary to transfer its Commitment Percentage of such Loans to its Domestic Lending Office or its Eurodollar Lending Office, as the case may be. All or any part of outstanding Loans of any Type may be converted into a Loan of another Type as provided herein, provided provided, that any partial conversion of a Eurodollar Rate Loan to a Base Rate Loan shall be in an aggregate principal amount of at least $100,000, and any partial conversion of 500,000 or a Base Rate Loan to a Eurodollar Rate Loan shall be in an aggregate principal amount of at least $1,000,000 or an integral whole multiple of $500,000 100,000 in excess thereof. Each Conversion Request relating to the conversion of a Loan (other than a conversion to a Eurodollar Base Rate Loan Loan) shall be irrevocable by the Borrowers. No Loan may be converted into a Loan denominated in a different currency, but instead must be prepaid in the original currency of such Loan and reborrowed in the other currency.