Conversions and Elections Regarding Types of Advances and Interest Rates Sample Clauses

Conversions and Elections Regarding Types of Advances and Interest Rates. (1) Advances may be converted from time to time from one Type to another, at the election of a Borrower or automatically in accordance with the provisions of this Section. A Borrower may from time to time elect (i) to convert any Advances to another Type or change the type of interest rate applicable thereto; (ii) to have any LIBOR Advance continued as such Type of Advance by electing an additional Interest Period; or (iii) in the case of a Canadian Borrower, to change the currency of any Advances or convert any Advances to Bankers’ Acceptances or BA Equivalent Notes, subject in each case to the provisions of Sections 3.1(3) and 3.5 and to the following provisions:
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Conversions and Elections Regarding Types of Advances and Interest Rates. (1) Advances may be converted from time to time from one Type of Advance to another, at the election of the Borrower or automatically in accordance with the provisions of this SECTION 3.4 (1). The Borrower may from time to time elect: (i) to convert any Advance to another Type of Advance by changing the currency of such Advance or the type of interest rate applicable thereto; or (ii) to have any LIBOR Advance continued as such Type of Advance by electing an additional Interest Period, subject in each case to the provisions of SECTIONS 3.1(3) and 3.6 and to the following provisions:
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Related to Conversions and Elections Regarding Types of Advances and Interest Rates

  • Availability of Types of Advances If any Lender determines that maintenance of its Eurodollar Loans at a suitable Lending Installation would violate any applicable law, rule, regulation, or directive, whether or not having the force of law, or if the Required Lenders determine that (i) deposits of a type and maturity appropriate to match fund Eurodollar Advances are not available or (ii) the interest rate applicable to Eurodollar Advances does not accurately reflect the cost of making or maintaining Eurodollar Advances, then the Agent shall suspend the availability of Eurodollar Advances and require any affected Eurodollar Advances to be repaid or converted to Floating Rate Advances, subject to the payment of any funding indemnification amounts required by Section 3.4.

  • Method of Selecting Types and Interest Periods for New Advances The Borrower shall select the Type of Advance and, in the case of each Eurodollar Advance, the Interest Period applicable thereto from time to time. The Borrower shall give the Administrative Agent irrevocable notice (a "Borrowing Notice") not later than 11:00 a.m. (Chicago time) on the Borrowing Date of each Floating Rate Advance and not later than 11:00 a.m. (Chicago time) three Business Days before the Borrowing Date for each Eurodollar Advance, specifying: (i) the Borrowing Date, which shall be a Business Day, of such Advance, (ii) the aggregate amount of such Advance, (iii) the Type of Advance selected, and (iv) in the case of each Eurodollar Advance, the Interest Period applicable thereto. Not later than noon (Chicago time) on each Borrowing Date, each Lender shall make available its Loan or Loans in funds immediately available in Chicago to the Administrative Agent at its address specified pursuant to Article XIII. The Administrative Agent will make the funds so received from the Lenders available to the Borrower at the Administrative Agent's aforesaid address.

  • Types of Advances The Advances may be Floating Rate Advances or Eurodollar Advances, or a combination thereof, selected by the Borrower in accordance with Sections 2.8 and 2.9.

  • Notification of Advances, Interest Rates, Prepayments and Commitment Reductions Promptly after receipt thereof, the Agent will notify each Lender of the contents of each Aggregate Commitment reduction notice, Borrowing Notice, Conversion/Continuation Notice, and repayment notice received by it hereunder. The Agent will notify each Lender of the interest rate applicable to each Eurodollar Advance promptly upon determination of such interest rate and will give each Lender prompt notice of each change in the Alternate Base Rate.

  • Repayment of Advances If the identity of the Servicer shall change, the predecessor Servicer shall be entitled to receive reimbursement for outstanding and unreimbursed Simple Interest Advances made pursuant to Section 4.4 by the predecessor Servicer.