Common use of Limitation on Conversion/Continuation Options Clause in Contracts

Limitation on Conversion/Continuation Options. The Borrower shall not be entitled to elect to convert any Loans to, or continue any Loans for an additional Interest Period as, Eurodollar Loans if (i) the aggregate principal amount of any Group of Eurodollar Loans created or continued as a result of such election would be less than $2,000,000 or (ii) a Default shall have occurred and be continuing when the Borrower delivers notice of such election to the Administrative Agent and the Required Lenders have directed the Administrative Agent during the period of such Event of Default that Eurodollar Loans shall no longer be made available to the Borrower.

Limitation on Conversion/Continuation Options. The Borrower Borrowers shall not be entitled to elect to convert any Loans to, or continue any Loans for an additional Interest Period as, Eurodollar Loans if (i) the aggregate principal amount of any Group of Eurodollar Loans created or continued as a result of such election would be less than $2,000,000 or (ii) a Default shall have occurred and be continuing when the Borrower delivers Borrowers deliver notice of such election to the Administrative Agent and the Administrative Agent or the Required Lenders have directed notified the Administrative Agent during the period of such Event of Default Company that Eurodollar Loans shall no longer be made are not available to during the Borrowercontinuance of such Default.