Common use of Optional Conversions Clause in Contracts

Optional Conversions. Borrower may on any Banking Day, upon notice given to the Administrative Agent not later than 9:00 a.m. (California time) on the third U.S. Government Securities Business Day prior to the date of a proposed Conversion if the Conversion is into SOFR Advances, or one Banking Day prior to the date of a proposed Conversion if the Conversion is into Alternate Base Rate Advances, and subject to the provisions of Section 3.5, Convert all or any portion of the Advances of one Type outstanding under the Revolving Facility (and, in the case of SOFR Advances, having the same Interest Period) into Advances of the other Type under the Revolving Facility; provided that any Conversion of SOFR Advances into Alternate Base Rate Advances on other than the last day of an Interest Period for such SOFR Advances shall be subject to Section 3.1(f), any Conversion of Alternate Base Rate Advances into SOFR Advances shall be in an amount not less than $1,000,000 or integral multiples of $500,000 in excess thereof and no Conversion of any Advances shall result in more than five (5) separate Interest Periods being outstanding under the Revolving Facility. Each such notice of Conversion shall be made pursuant to a Request for Continuation/Conversion and shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the aggregate amount and Type of the Advances (and, in the case of SOFR Advances, the Interest Period therefor) to be Converted and

Optional Conversions. Borrower may on any Banking Day, upon notice given to the Administrative Agent not later than 9:00 a.m. (California time) on the third U.S. Government Securities Business Day prior to the date of a proposed Conversion if the Conversion is into SOFR Advances, or one Banking Day prior to the date of a proposed Conversion if the Conversion is into Alternate Base Rate Advances, and subject to the provisions of Section 3.5, Convert all or any portion of the Advances of one Type outstanding under the Revolving Facility (and, in the case of SOFR Advances, having the same Interest Period) into Advances of the other Type under the Revolving Facility; provided that any Conversion of SOFR Advances into Alternate Base Rate Advances on other than the last day of an Interest Period for such SOFR Advances shall be subject to Section 3.1(f), any Conversion of Alternate Base Rate Advances into SOFR Advances shall be in an amount not less than $1,000,000 or integral multiples of $500,000 in excess thereof and no Conversion of any Advances shall result in more than five (5) separate Interest Periods being outstanding under the Revolving Facility. Each such notice of Conversion shall be made pursuant to a Request for Continuation/Conversion and shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the aggregate amount and Type of the Advances (and, in the case of SOFR Advances, the Interest Period therefor) to be Converted andand (iii) if such Conversion is into SOFR Advances, the duration of the initial Interest Period for such Advances. Each request for Conversion shall be irrevocable and binding on Borrower.