Common use of Optional Conversion of Advances Clause in Contracts

Optional Conversion of Advances. The Borrower of any Advance may on any Business Day, upon notice given to the Agent not later than 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.07, 2.11 and 2.21, Convert all Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type; provided, however, that any Conversion of SOFR Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such SOFR Advances, any Conversion of Base Rate Advances into SOFR Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into SOFR Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower giving such notice.

Optional Conversion of Advances. The Borrower of any Advance may on any Business Day, upon notice given to the Agent not later than 11:00 A.M. (New York City time) on the third U.S. Government Securities Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.07, 2.11 2.09 and 2.212.13, Convert all Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing made to such Borrower into Advances denominated in Dollars of the other another Type; provided, however, that any Conversion of Term SOFR Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Term SOFR Rate Advances, any Conversion of Base Rate Advances into Term SOFR Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Term SOFR Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower giving such notice.

Optional Conversion of Advances. The Borrower of any Advance may on any Business Day, upon notice given to the Agent not later than 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.072.08, 2.11 2.12 and 2.212.20, Convert all Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type; provided, however, that any Conversion of Term SOFR Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Term SOFR Advances, any Conversion of Base Rate Advances into Term SOFR Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into Term SOFR Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower giving such noticeBorrower.

Optional Conversion of Advances. The Borrower of any Term SOFR Advance or Base Rate Advance may on any Business Day, upon notice given to the Agent not later than 11:00 A.M. (New York City time) on the third U.S. Government Securities Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.07, 2.11 2.08 and 2.212.12, Convert all or any part of such Term SOFR Advances made to such Borrower denominated in Dollars of one Type or Base Rate Advances comprising the same Borrowing into Base Rate Advances denominated in Dollars of or Term SOFR Advances, as the other Typecase may be; provided, however, that any Conversion of Term SOFR Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Term SOFR Advances, any Conversion of Base Rate Advances into Term SOFR Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any such Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, and (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into SOFR Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower giving such notice.

Optional Conversion of Advances. The Borrower of any Advance may on any Business Day, upon notice given to the Administrative Agent, which may be given by (a) telephone or (b) an Advance Notice; provided that any telephonic notice must be confirmed promptly by delivery to the Administrative Agent of an Advance Notice. Each such Advance Notice must be received by the Administrative Agent not later than 11:00 A.M. 1:00 P.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.07, 2.11 2.09 and 2.212.13, Convert all Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type; provided, however, that any Conversion of Term SOFR Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such Term SOFR Advances, any Conversion of Base Rate Advances into Term SOFR Advances or SOFR Daily Floating Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Term SOFR Borrowings and/or SOFR Daily Floating Rate Advances than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into SOFR Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower giving such notice.

Optional Conversion of Advances. The Borrower of any Advance Company may on any Business Day, upon notice given to the Administrative Agent not later than 11:00 A.M. a.m. (New York City time) on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.07, 2.11 and 2.21Conversion, Convert all Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other TypeType or Continue T▇▇▇ ▇▇▇▇▇▇▇▇▇ Advances (and in the absence of timely notice of Continuation, such Term Benchmark Advances shall Convert to Base Rate Advances on the last day of the then current Interest Period); provided, however, provided that any Conversion of SOFR Term Benchmark Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such SOFR Term Benchmark Advances, any Conversion of Base Rate Advances into SOFR Term Benchmark Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b‎3.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b‎3.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into SOFR Term Benchmark Advances, the duration of the initial Interest Period for each such AdvanceAdvances. Each notice of Conversion or Continuation shall be irrevocable and binding on the Borrower giving such noticeCompany.

Optional Conversion of Advances. The Borrower of any Advance may on any Business Day, upon notice given to the Agent not later than 11:00 A.M. 12:00 P.M. (noon) (New York City time) on the third U.S. Government Securities Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.07, 2.11 2.08 and 2.212.12, Convert all Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type; provided, however, that any Conversion of SOFR Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such SOFR Rate Advances, any Conversion of Base Rate Advances into SOFR Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) Borrowing Minimum for SOFR Rate Advances and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into SOFR Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower giving such noticeBorrower.

Optional Conversion of Advances. The Borrower of any Advance may on any Business Day, upon notice given to the Administrative Agent not later than 11:00 A.M. (New York City time) 12:00 noon on the third Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.07, 2.11 2.12 and 2.212.16, Convert all or any part of Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other TypeType or of the same Type but having a new Interest Period; provided, however, that the Borrower may not request that Swingline Advances be converted into or continued as SOFR Advances or Base Rate Advances, any Conversion of SOFR Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such SOFR Advances, any Conversion of Base Rate Advances into SOFR Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into SOFR Advances, the duration of the initial Interest Period for each such Advance. Each such notice of Conversion shall be irrevocable and binding on the Borrower giving such noticeBorrower.

Optional Conversion of Advances. The Borrower of any Advance may on any Business Day, upon notice given to the Agent not later than 11:00 A.M. 12:00 P.M. (noon) (New York City time) on the third U.S. Government Securities Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.07, 2.11 2.08 and 2.212.12, Convert all Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type; provided, however, that any Conversion of SOFR Rate Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such SOFR Rate Advances, any Conversion of Base Rate Advances into SOFR Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) Borrowing Minimum for SOFR Rate Advances and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b2.02(c). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into SOFR Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower giving such noticeBorrower.

Optional Conversion of Advances. The Borrower of any Advance may on any Business Day, upon notice given to the Administrative Agent in substantially the form of Exhibit C not later than 11:00 A.M. (New York City time) on the third second Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.07, 2.11 2.8 and 2.213.1, Convert all Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type; provided, however, that any Conversion of SOFR Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such SOFR Advances, any Conversion of Base Rate Advances into SOFR Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b2.2(c) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b2.2(c). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into SOFR Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower giving such noticeBorrower.

Optional Conversion of Advances. The Borrower of any Advance may on any Business Day, upon notice given to the Agent not later than 11:00 A.M. (New York City time) on the third Business Day prior to the date of the proposed Conversion in the case of a Conversion to Eurocurrency Rate Advances and not later than 11:00 A.M. (New York City time) on the date of the proposed Conversion in the case of a Conversion to Base Rate Advances and subject to the provisions of Sections 2.072.08, 2.11 2.12 and 2.219.04(c), Convert all Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other Type; provided, however, that any Conversion of SOFR Advances into Base Rate Advances shall be made only on the last day of an Interest Period for such SOFR Advances, any Conversion of Base Rate Advances into SOFR Eurocurrency NYDOCS01/1357750.4 Rate Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into SOFR Eurocurrency Rate Advances, the duration of the initial Interest Period for each such Advance. Each notice of Conversion shall be irrevocable and binding on the Borrower giving such notice.

Optional Conversion of Advances. The Borrower of any Advance Company may on any Business Day, upon notice given to the Administrative Agent not later than 11:00 A.M. 1:00 p.m. (New York City time) on the third second Business Day prior to the date of the proposed Conversion and subject to the provisions of Sections 2.07, 2.11 and 2.21Conversion, Convert all Advances made to such Borrower denominated in Dollars of one Type comprising the same Borrowing into Advances denominated in Dollars of the other TypeType or Continue ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Advances (and in the absence of timely notice of Continuation, such Term Benchmark Advances shall Convert to Base Rate Advances on the last day of the then current Interest Period); provided, however, provided that any Conversion of SOFR ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Advances into Base Rate Advances or Daily Simple SOFR Advances shall be made only on the last day of an Interest Period for such SOFR ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ Advances, any Conversion of Base Rate Advances into Term Benchmark Advances or Daily Simple SOFR Advances shall be in an amount not less than the minimum amount specified in Section 2.02(b3.02(b) and no Conversion of any Advances shall result in more separate Borrowings than permitted under Section 2.02(b3.02(b). Each such notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Dollar denominated Advances to be Converted, and (iii) if such Conversion is into SOFR Term Benchmark Advances, the duration of the initial Interest Period for each such AdvanceAdvances. Each notice of Conversion or Continuation shall be irrevocable and binding on the Borrower giving such noticeCompany. SECTION 3.09.