Common use of Automatic Conversion and Continuation Clause in Contracts

Automatic Conversion and Continuation. Floating Rate Loans shall continue as Floating Rate Loans unless and until such Floating Rate Loans are converted into Fixed Rate Loans. Fixed Rate Loans shall continue as Fixed Rate Loans until the end of the then applicable Interest Period therefor, at which time such Fixed Rate Loans, if denominated in Dollars, shall be automatically converted into Floating Rate Loans unless the Company shall have given the Administrative Agent notice in accordance with Section 2.10(d) requesting that, at the end of such Interest Period, such Fixed Rate Loans continue as Fixed Rate Loans. Unless a Borrowing/Conversion/Continuation Notice shall have timely been given in accordance with the terms of this Section 2.10, Fixed Rate Loans in an Agreed Currency other than Dollars and Alternate Currency Loans shall automatically continue as Fixed Rate Loans in the same Agreed Currency or Alternate Currency Loans in the same Alternate Currency, as applicable, with an Interest Period of one month.

Appears in 1 contract

Samples: Credit Agreement (Trimble Navigation LTD /Ca/)

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Automatic Conversion and Continuation. Floating Rate Loans shall continue as Floating Rate Loans unless and until such Floating Rate Loans are converted into Fixed Eurocurrency Rate Loans. Fixed Eurocurrency Rate Loans shall continue as Fixed Eurocurrency Rate Loans until the end of the then applicable Interest Period therefor, at which time such Fixed Eurocurrency Rate Loans, if denominated in Dollars, Loans shall be automatically converted into Floating Rate Loans unless the Company Borrower shall have given the Administrative Agent notice in accordance with Section 2.10(d2.10(D) requesting that, at the end of such Interest Period, such Fixed Eurocurrency Rate Loans continue as Fixed a Eurocurrency Rate LoansLoan. Unless a Borrowing/Conversion/Continuation Notice shall have timely been given in accordance with the terms of this Section 2.10, Fixed Eurocurrency Rate Loans Advances in an Agreed Currency other than Dollars and Alternate Currency Loans shall automatically continue as Fixed Eurocurrency Rate Loans Advances in the same Agreed Currency or Alternate Currency Loans in the same Alternate Currency, as applicable, with an Interest Period of one (1) month.

Appears in 1 contract

Samples: Credit Agreement (Schawk Inc)

Automatic Conversion and Continuation. Floating Rate Loans shall continue as Floating Rate Loans unless and until such Floating Rate Loans are converted into Fixed Rate Loans. Fixed Rate Loans shall continue as Fixed Rate Loans until the end of the then applicable Interest Period therefor, at which time such Fixed Rate Loans, if denominated in Dollars, Loans shall be automatically converted into Floating Rate Loans unless the Company shall have given the Administrative Agent notice in accordance with Section 2.10(d) requesting that, at the end of such Interest Period, such Fixed Rate Loans continue as a Fixed Rate LoansLoan. Unless a Borrowing/Conversion/Continuation Notice shall have timely been given in accordance with the terms of this Section 2.10, Fixed Rate Loans in an Agreed Currency other than Dollars and Alternate Currency Loans shall automatically continue as Fixed Rate Loans in the same Agreed Currency or Alternate Currency Loans in the same Alternate Currency, as applicable, with an Interest Period of one (1) month.

Appears in 1 contract

Samples: Credit Agreement (Trimble Navigation LTD /Ca/)

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Automatic Conversion and Continuation. Floating Rate Loans shall continue as Floating Rate Loans unless and until such Floating Rate Loans are converted into Fixed Rate Loans. Fixed Rate Loans shall continue as Fixed Rate Loans until the end of the then applicable Interest Period therefor, at which time such Fixed Rate Loans, if denominated in Dollars, Loans shall be automatically converted into Floating Rate Loans unless the Company shall have given the Administrative Agent notice in accordance with Section 2.10(d2.11(d) requesting that, at the end of such Interest Period, such Fixed Rate Loans continue as a Fixed Rate LoansLoan. Unless a Borrowing/Conversion/Continuation Notice shall have timely been given in accordance with the terms of this Section 2.102.11, Fixed Rate Loans in an Agreed Currency other than Dollars and Alternate Currency Loans shall automatically continue as Fixed Rate Loans in the same Agreed Currency or Alternate Currency Loans in the same Alternate Currency, as applicable, with an Interest Period of one (1) month.

Appears in 1 contract

Samples: Credit Agreement (Trimble Navigation LTD /Ca/)

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