Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' notice (in the case of any Loans) that all, or any portion (a) in a minimum amount of $1,000,000 or any larger integral multiple of $500,000, be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lenders, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
Appears in 5 contracts
Samples: Credit Agreement (Dri I Inc), Credit Agreement (Duane Reade Realty Inc), Credit Agreement (Dri I Inc)
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon10:00 a.m., New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a continuation of, or a conversion of LIBO Rate Loans to into, Base Rate Loans) , or three Business Days' Day's notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor , and in either case not more than five Business Days' notice (in the case of any Loans) Day's notice, that all, or any portion (a) in a an aggregate minimum amount of $5,000,000 and an integral multiple of $1,000,000, in the case of LIBO Rate Loans, or an aggregate minimum amount of $1,000,000 or any larger and an integral multiple of $500,000, in the case of Base Rate Loans, be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Term Loans of the relevant Lendersall Term Loan Lenders that have made such Term Loans, and (y) no portion of the outstanding principal amount of any Term Loans may may, upon the expiration of the applicable Interest Period, be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
Appears in 4 contracts
Samples: Term Loan Agreement (Specialty Foods Acquisition Corp), Term Loan Agreement (Specialty Foods Corp), Term Loan Agreement (Specialty Foods Acquisition Corp)
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, 10:00 a.m. on a Business Day, the Borrower may from time to time irrevocably elect, elect on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' ’ notice (in the case of any Loans) that all, or any portion (a) to convert any Base Rate Loan into one or more LIBO Rate Loans or (b) before the last day of the then current Interest Period with respect thereto, to continue any LIBO Rate Loan as a LIBO Rate Loan; provided that (i) any portion of any Loan which is continued or converted hereunder shall be in a minimum amount of $1,000,000 or any larger and in an integral multiple of $500,000, be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans 1,000,000 and (ii) in the absence of prior notice as required above (which notice may be delivered telephonically followed by written confirmation within 24 hours thereafter by delivery of a Continuation/Conversion Notice Notice), with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, provided further that (xA) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (yB) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
Appears in 4 contracts
Samples: Credit Agreement (Hanesbrands Inc.), Credit Agreement (Hanesbrands Inc.), Credit Agreement (Hanesbrands Inc.)
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or and three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than (in each case) five Business Days' ’ notice (in the case of any Loans) that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 2,000,000 and an integral multiple of $500,000, in the case of the continuation of, or conversion into, LIBO Rate Loans, or an aggregate minimum amount of $500,000 and an integral multiple thereof, in the case of the conversion into Base Rate Loans (other than Swing Line Loans as provided in clause (a) of Section 2.3.2) be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, be converted into a Base Rate Loan or continued as a LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans Loan (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lenders, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
Appears in 4 contracts
Samples: Amendment Agreement (Weight Watchers International Inc), Credit Agreement (Weight Watchers International Inc), Credit Agreement (Weight Watchers International Inc)
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice telephonic notice to the Administrative Agent on or before 12:00 noon, New York City time, noon on a Business Day (followed (within one Business Day) by the delivery of a confirming Continuation/Conversion Notice), the Borrower may from time to time irrevocably elect, on not less than one Business Day's ’s notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) , or three Business Days' ’ notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor , and in either case not more than five Business Days' notice (in the case of any Loans) ’ notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 2,000,000 and an integral multiple of $500,000, 500,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, provided that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
Appears in 3 contracts
Samples: Credit Agreement (Reddy Ice Holdings Inc), Credit Agreement (Reddy Ice Holdings Inc), Credit Agreement (Reddy Ice Holdings Inc)
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's ’s notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) , or three Business Days' ’ notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor , and in either case not more than five Business Days' notice (in the case of any Loans) ’ notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger and an integral multiple of $500,000, 1,000,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); providedprovided that, however, that (xa) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (yb) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default Borrowing Base Deficiency has occurred and is continuing. Each such irrevocable request may be made by telephone confirmed promptly by hand delivery or facsimile to the Administrative Agent of the applicable Continuation/Conversion Notice. The conversion of a Base Rate Loan into a LIBO Rate Loan or a LIBO Rate Loan into a Base Rate Loan shall not effect a novation of the Loan so converted.
Appears in 3 contracts
Samples: First Lien Credit Agreement (Energy XXI Texas, LP), First Lien Credit Agreement (Energy Xxi (Bermuda) LTD), First Lien Credit Agreement (Energy Xxi (Bermuda) LTD)
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' notice (in the case of any Loans) that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger and an integral multiple of $500,000, in the case of the continuation of, or conversion into, LIBO Rate Loans, or an aggregate minimum amount of $500,000 and an integral multiple thereof, in the case of the conversion into Base Rate Loans, be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, be converted into Base Rate Loans or continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lenders, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
Appears in 3 contracts
Samples: Credit Agreement (Brand Scaffold Services Inc), Credit Agreement (Brand Scaffold Services Inc), Credit Agreement (Brand Scaffold Services Inc)
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, 10:00 a.m. on a Business Day, the U.S. Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) , or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor , and in either case not more than five Business Days' notice (in the case of any Loans) notice, that all, or any portion (a) in a an aggregate minimum amount of the Dollar Equivalent of $1,000,000 or any larger 10,000,000 and an integral multiple of the Dollar Equivalent of $500,000, 1,000,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing. Loans can only be continued or converted in the currency that such Loans were made on the date of such Borrowing.
Appears in 3 contracts
Samples: Credit Agreement (Chesapeake Corp /Va/), Credit Agreement (Chesapeake Corp /Va/), Credit Agreement (Chesapeake Corp /Va/)
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice prior telephonic notice to the to the applicable Administrative Agent on or before 12:00 noon, New York City time, 10:00 a.m. on a Business DayDay (such notice to be confirmed in writing within 24 hours thereafter by delivery of a Continuation/Conversion Notice), the any Borrower may from time to time irrevocably elect, :
(a) on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' notice (in ’ notice, the case conversion of any LoansBase Rate Loan into one or more LIBO Rate Loans denominated in Dollars or the continuation of any LIBO Rate Loan denominated in Dollars as a LIBO Rate Loan so denominated; and
(b) on not less than five nor more than ten Business Days’ notice, the continuation of any LIBO Rate Loan denominated in an Alternate Currency as a LIBO Rate Loan denominated in such Alternate Currency; provided that all, or any portion (a) of any Loan which is continued or converted hereunder shall be in a minimum amount of $1,000,000 or any larger and in an integral multiple of $500,000, be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans (1,000,000; and provided further that in the absence of prior notice (which notice may be delivered telephonically followed by written confirmation within 24 hours thereafter by delivery of a Continuation/Conversion Notice Notice) with respect to any LIBO Rate Loan denominated in Dollars at least three Business Days (or, with respect to any LIBO Rate Loan denominated in an Alternate Currency, at least five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, provided that (xi) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (yii) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
Appears in 3 contracts
Samples: Credit Agreement (Ferro Corp), Credit Agreement (Ferro Corp), Credit Agreement (Ferro Corp)
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice three (in the case of a conversion of LIBO Rate Loans to Base Rate Loans3) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' notice (in the case of any Loans) notice, that all, all or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 500,000 and an integral multiple of $500,000100,000, of any Loans to the Borrower be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, converted on the last day of the then current Interest Period into a Base Rate Loan or continued as a LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans Loan (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three (3) Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base LIBO Rate LoanLoan having an Interest Period of one month except as provided in clause (ii) of the proviso to this Section 2.4); provided, however, that (xi) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of all Banks to the relevant LendersBorrower, and (yii) no portion of the outstanding principal amount of any Loans may be so continued as, or be so converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing, and (iii) continuation of a LIBO Rate Loan, the conversion of a Base Rate Loan into a LIBO Rate Loan or the conversion of a LIBO Rate Loan into a Base Rate Loan pursuant to this Section 2.4 shall not constitute a Borrowing for purposes of Section 5.2.1 or Article VI of this Agreement.
Appears in 2 contracts
Samples: Credit Agreement (Magnum Hunter Resources Inc), Credit Agreement (Magnum Hunter Resources Inc)
Continuation and Conversion Elections. By delivering telephonic notice, promptly followed (by the end of the Business Day on which such telephonic notice was delivered) by the delivery of a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon10:00 a.m., New York City time, on a Business Day, the any Revolving Credit Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a continuation or conversion of LIBO Rate Loans to into Base Rate Loans) , or three Business Days' Day's notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor , and in either case not more than five Business Days' notice (in the case of any Loans) that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger and an integral multiple of $500,000, of any Revolving I Credit Loans, or an aggregate minimum amount of $5,000,000 and an integral multiple of $1,000,000, of any Revolving II Credit Loans, be, in the case of Base Rate Loans, converted into LIBO Rate Loans of either type or, in the case of LIBO Rate LoansLoans of either type, be converted into a Base Rate Loan or a LIBO Rate Loan of the other type or continued as a LIBO Rate Loans or (b) in a minimum amount Loan of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans such type (in the absence of delivery of a Continuation/Continuation/ Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (xi) each such conversion or continuation shall be pro rated among the applicable outstanding Revolving I Credit Loans or Revolving II Credit Loans, as the case may be, of the relevant all Revolving Credit Lenders, and (yii) no portion of the outstanding principal amount of any Revolving Credit Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Specialty Foods Corp), Revolving Credit Agreement (Specialty Foods Acquisition Corp)
Continuation and Conversion Elections. By delivering a Continuation/Continuation/ Conversion Notice to the Administrative Agent on or before 12:00 noon, 11:00 a.m. (New York City time, ) on a Business Day, a Borrower (or the Administrative Borrower on such Borrower’s behalf) may from time to time irrevocably elect, on not less than one Business Day's ’s notice (in the case of a conversion conversions to or continuations of LIBO Rate Loans to Base Rate Loans) , or three (3) Business Days' ’ notice (in the case of a continuation conversions to or continuations of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor , and in either case not more than five (5) Business Days' notice (in the case of any Loans) ’ notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 5,000,000 and an integral multiple of $500,000, 1,000,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three (3) Business Days (but not more than five (5) Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuingcontinuing unless Agent otherwise agrees.
Appears in 2 contracts
Samples: Credit Agreement (Winn Dixie Stores Inc), Credit Agreement (Winn Dixie Stores Inc)
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' notice (in the case of any Loans) that all, or any portion (a) in a minimum amount of $1,000,000 500,000 or any larger integral multiple of $500,000100,000, be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lenders, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
Appears in 2 contracts
Samples: Credit Agreement (Decisionone Corp /De), Credit Agreement (Decisionone Corp /De)
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 p.m. (noon), New York City Los Angeles time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' notice (in the case of any Loans) that all, or any portion (a) in a minimum amount of $1,000,000 500,000 or any larger integral multiple of $500,000100,000, be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lenders, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
Appears in 2 contracts
Samples: Credit Agreement (Charles River Laboratories Inc), Credit Agreement (Charles River Laboratories Holdings Inc)
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon1:00 p.m., New York City time, on a Business Day, the a Borrower may from time to time irrevocably elect, on not less than one (1) Business Day's ’s notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) , or three (3) Business Days' ’ notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor , and in either case not more than five (5) Business Days' notice (in the case of any Loans) ’ notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger and an integral multiple of $500,000, 250,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three (3) Business Days (but not more than five (5) Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); providedprovided that, however, that (xi) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (yii) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing. Each such irrevocable request may be made by telephone confirmed promptly by facsimile to the Administrative Agent of the applicable Continuation/Conversion Notice. The conversion of a Base Rate Loan into a LIBO Rate Loan or a LIBO Rate Loan into a Base Rate Loan shall not effect a novation of the Loan so converted.
Appears in 2 contracts
Samples: First Lien Credit Agreement (Standard Register Co), Second Lien Credit Agreement (Standard Register Co)
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon1:00 p.m., New York City Charlotte time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's Days’ notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) , or three Business Days' ’ notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into to LIBO Rate Loans) nor , and in either case not more than five Business Days' notice (in the case of any Loans) ’ notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 2,000,000 and an integral multiple of $500,000, 1,000,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
Appears in 2 contracts
Samples: Senior Secured Credit Agreement (Titan Corp), Senior Secured Credit Agreement (Titan Corp)
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon10:30 a.m., New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' notice (in the case of any Loans) that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 5,000,000 and an integral multiple of $500,0001,000,000, of any Loans be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, be converted into a Base Rate Loan or continued as a LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans Loan (in the absence of delivery of a Continuation/Continuation/ Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a LIBO Rate Loan having an Interest Period of one month, unless such LIBO Rate Loan at such time has an Interest Period of one month due to a prior automatic conversion, in which case such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); providedPROVIDED, howeverHOWEVER, that (xi) each such conversion or continuation shall be pro rated prorated among the applicable outstanding Loans of the relevant all Lenders, and (yii) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
Appears in 2 contracts
Samples: Quarterly Report, Credit Agreement (Price/Costco Inc)
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, 10:00 a.m. on a Business Day, the Borrower Borrowers may from time to time irrevocably elect, on not less than one Business Day's ’s notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) , or three Business Days' ’ notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor , and in either case not more than five Business Days' notice (in the case of any Loans) ’ notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger and an integral multiple of $500,000, 1,000,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, provided that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant all Lenders, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing. Notwithstanding anything to the contrary in this Section 2.3, on the third Business Day after the Closing Date, all of the Loans shall be converted into LIBO Rate Loans with an initial Interest Period of one month, as and to the extent specified in a Continuation/Conversion Notice delivered to the Administrative Agent on the Closing Date.
Appears in 2 contracts
Samples: Credit Agreement (Aei), Credit Agreement (Aei)
Continuation and Conversion Elections. By delivering a ------------------------------------- Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon11:00 a.m., New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion continuations of LIBO Rate Loans to or conversions into Base Rate Loans) or and not less than three Business Days' notice (in the case of a continuation continuations of LIBO Rate Loans or a conversion of Base Rate Loans conversions into LIBO Rate Loans) nor more than five (in all cases) Business Days' notice (in the case of any Loans) that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 500,000 and an integral multiple of $500,000100,000 (in the case of LIBO Rate Loans) or in an aggregate minimum amount of $100,000 and an integral multiple of $100,000 (in the case of Base Rate Loans), beof any Loans, in the case of Base Rate Loans, be converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, be converted into a Base Rate Loan or continued as a LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans Loan (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that -------- ------- (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant all Lenders, and (y) no the Borrower shall not have the right to request that any portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
Appears in 2 contracts
Samples: Credit Agreement (Ameritel Pay Phones Inc), Credit Agreement (One Source Telecommunications Inc)
Continuation and Conversion Elections. By delivering a Continuation/Continuation/ Conversion Notice to the Administrative Agent on or before 12:00 noon11:00 a.m., New York City Chicago, Illinois time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' notice (in the case of any Loans) that all, or any portion (a) in a minimum amount of $1,000,000 or any larger 5,000,000 and an integral multiple of $500,000, 500,000 of any Loans be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, be converted into Base Rate Loans or continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans (in the absence of delivery of a Continuation/Continuation/ Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant all Lenders, and (y) no portion of the outstanding principal amount of notwithstanding any Loans may be continued ascontrary provision hereof, or be converted into, LIBO Rate Loans when any Default or if an Event of Default has occurred and is continuingcontinuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as an Event of Default is continuing (i) no outstanding Loans may be converted to or continued as a LIBO Rate Loan and (ii) unless repaid, each LIBO Rate Loan shall be converted to a Base Rate Loan at the end of the Interest Period applicable thereto.
Appears in 2 contracts
Samples: Credit Agreement (Nextel Partners Inc), Credit Agreement (Nextel Partners Inc)
Continuation and Conversion Elections. By delivering a Continuation/Continuation/ Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, on a Business Day, the Borrower WWI may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or and three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than (in each case) five Business Days' notice (in the case of any Loans) that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 2,000,000 and an integral multiple of $500,000, in the case of the continuation of, or conversion into, LIBO Rate Loans, or an aggregate minimum amount of $500,000 and an integral multiple thereof, in the case of the conversion into Base Rate Loans (other than Swing Line Loans as provided in CLAUSE (A) of SECTION 2.3.2) be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, be converted into a Base Rate Loan or continued as a LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans Loan (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); providedPROVIDED, howeverHOWEVER, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lenders, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
Appears in 2 contracts
Samples: Credit Agreement (Weight Watchers International Inc), Credit Agreement (Weight Watchers International Inc)
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City 10:00 a.m. (Chicago time, ) on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' notice (in the case of any Loans) that all, or any portion (a) in a minimum amount of $1,000,000 5,000,000 or any larger integral multiple of $500,000250,000, be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 250,000 or any larger integral multiple of $100,000, be250,000, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Term Loans of the relevant all Lenders, and (y) no portion of the outstanding principal amount of any Term Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
Appears in 2 contracts
Samples: Term Loan Agreement (Pci Carolina Inc), Term Loan Agreement (Pioneer East Inc)
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, 10:00 a.m. on a Business Day, the applicable Borrower may from time to time irrevocably elect, elect on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' ’ notice (in the case of any Loans) that all, or any portion (a) to convert any Base Rate Loan into one or more LIBO Rate Loans, (b) before the last day of the then current Interest Period with respect thereto, to continue any LIBO Rate Loan as a LIBO Rate Loan or (c) before the last day of the then current Interest Period with respect thereto, to continue any EURIBOR Rate Loan as a EURIBOR Rate Loan; provided that (i) any portion of any Loan which is continued or converted hereunder shall be in a minimum amount of $1,000,000 or any larger €1,000,000, as applicable, and in an integral multiple of $500,000, be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 1,000,000 or any larger integral multiple of $100,000€1,000,000 , beas applicable, in the case of LIBO Rate Loans, converted into Base Rate Loans (ii) in the absence of prior notice as required above (which notice may be delivered telephonically followed by written confirmation within 24 hours thereafter by delivery of a Continuation/Conversion Notice Notice), with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate LoanLoan and (iii) in the absence of prior notice as required above (which notice may be delivered telephonically followed by written confirmation within 24 hours thereafter by delivery of a Continuation/Conversion Notice), with respect to any EURIBOR Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such EURIBOR Rate Loan shall, on such last day, automatically be continued as a EURIBOR Rate Loan with an Interest Period of one month; provided, however, provided further that (xA) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (yB) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
Appears in 2 contracts
Samples: Credit Agreement (Hanesbrands Inc.), Credit Agreement (Hanesbrands Inc.)
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice telephonic notice to the Administrative Agent on or before 12:00 noon, New York City time, noon on a Business Day (followed (within one Business Day) by the delivery of a confirming Continuation/Conversion Notice), the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) , or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor , and in either case not more than five Business Days' notice (in the case of any Loans) notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 2,000,000 and an integral multiple of $500,000, 500,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, provided that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
Appears in 2 contracts
Samples: Credit Agreement (Reddy Ice Holdings Inc), Credit Agreement (Southern Bottled Water Co Inc)
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, on a Business Day, the Borrower WWI may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or and three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than (in each case) five Business Days' notice (in the case of any Loans) that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 2,000,000 and an integral multiple of $500,000, in the case of the continuation of, or conversion into, LIBO Rate Loans, or an aggregate minimum amount of $500,000 and an integral multiple thereof, in the case of the conversion into Base Rate Loans (other than Swing Line Loans as provided in clause (a) of Section 2.3.2) be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, be converted into a Base Rate Loan or continued as a LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans Loan (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lenders, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
Appears in 2 contracts
Samples: Amendment No. 4 (Weight Watchers International Inc), Credit Agreement (Weight Watchers International Inc)
Continuation and Conversion Elections. By delivering a ------------------------------------- Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' notice (in the case of any Loans) notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger and an integral multiple of $500,000, Loans be, in the case of Base Rate Loans, converted into LIBO Fixed Rate Loans or, of either type or in the case of LIBO Fixed Rate LoansLoans of either type, be converted into a Base Rate Loan or a Fixed Rate Loan of the other type or continued as LIBO a Fixed Rate Loans or (b) in a minimum amount Loan of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans such type (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Fixed Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Fixed Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, -------- ------- that (xi) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (yii) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Fixed Rate Loans when any Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Samples: Credit Agreement (Primestar Inc)
Continuation and Conversion Elections. By delivering a Continuation/Continuation/ Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, 10:00 a.m. on a Business Day, the each Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) , or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor , and in either case not more than five Business Days' notice (in the case of any Loans) notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 2,000,000 and an integral multiple of $500,000, 1,000,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans (in or continued as LIBO Rate Loans. In the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Second-Lien Loans of the relevant Lendersall Lenders that have made such Second-Lien Loans, and (y) no portion of the outstanding principal amount of any Second-Lien Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Facility Agent on or before 12:00 noonp.m., New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into to LIBO Rate Loans) nor more than five Business Days' notice (in the case of any all Loans) that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 100,000 and an integral multiple of $500,00010,000, of any Loans be, in the case of Base Rate Loans, converted into LIBO Rate Loans of either type or, in the case of LIBO Rate LoansLoans of either type, be converted into a Base Rate Loan or a LIBO Rate Loan of the other type or continued as a LIBO Rate Loans or (b) in a minimum amount Loan of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans such type (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); providedPROVIDED, howeverHOWEVER, that (xi) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant all Lenders, and (yii) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, 10:00 a.m. on a Business Day, the either Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) , or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor , and in either case not more than five Business Days' notice (in the case of any Loans) notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 250,000 and an integral multiple of $500,000, 100,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, PROVIDED that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Samples: Credit Agreement (United Surgical Partners Holdings Inc)
Continuation and Conversion Elections. By delivering a ------------------------------------- Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noonp.m., New York City Boston, Massachusetts time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' notice (in the case of any Loans) that all, or any portion (a) in a minimum amount of $1,000,000 500,000 or any larger integral multiple of $500,000100,000, be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, -------- however, that (xa) each such conversion or continuation shall be pro rated among ------- the applicable outstanding Loans of the relevant Lenders, and (yb) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Samples: Credit Agreement (Advanstar Inc)
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, noon on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's ’s notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) , or three Business Days' ’ notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor , and in either case not more than five ten Business Days' notice (in the case of any Loans) ’ notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger and an integral multiple of $500,000, 500,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than ten Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, provided however, that (xa) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (yb) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing. Each such irrevocable election shall be made by telephone confirmed promptly by hand delivery or facsimile to the Administrative Agent of the applicable Continuation/Conversion Notice.
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Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' notice (in the case of any Loans) that all, or any portion (a) in a minimum amount of $1,000,000 -35- or any larger integral multiple of $500,000, be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lenders, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Samples: Credit Agreement (Duane Reade Inc)
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon11:00 a.m., New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's prior written notice (in the case of a conversion of LIBO Rate Loans to Base Rate Term Loans) , or three Business Days' prior written notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Term Loans) nor , and in either case not more than five Business Days' notice (in the case of any Loans) prior written notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger and an integral multiple of $500,000, 1,000,000 be, in the case of Base Rate Term Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Term Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Term Loans, converted into Base Rate Term Loans or continued as LIBO Rate Term Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (xa) each such conversion or continuation shall be pro rated prorated among the applicable outstanding Term Loans of the relevant Lendersall Lenders that have made such Term Loans, and (yb) no portion of the outstanding principal amount of any Term Loans may be continued as, or be converted into, LIBO Rate Term Loans when (i) any Default or Event of Default has occurred and is continuing or (ii) unless the Administrative Agent otherwise consents in writing, any Default has occurred and is continuing.
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Continuation and Conversion Elections. By delivering a Continuation/Continuation/ Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, on a Business Day, the Borrower Company may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' notice (in the case of any Loans) that all, or any portion (a) in a minimum amount of $1,000,000 500,000 or any larger an integral multiple of $500,000100,000, of any Loans be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, be converted into Base Rate Loans or continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to be continued as a Base LIBO Rate LoanLoan having a one month Interest Period); provided, however, that (xa) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant all Current Assets Lenders or Fixed Assets Lenders, as applicable, and (yb) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon1:00 p.m., New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's Days' notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) , or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into to LIBO Rate Loans) nor , and in either case not more than five Business Days' notice (in the case of any Loans) notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger and an integral multiple of $500,000, 1,000,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Continuation and Conversion Elections. By delivering a ------------------------------------- Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' notice (in the case of any Loans) notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger and an integral multiple of $500,000, Loans be, in the case of Base Rate Loans, converted into LIBO Fixed Rate Loans or, of either type or in the case of LIBO Fixed Rate LoansLoans of either type, be converted into a Base Rate Loan or a Fixed Rate Loan of the other type or continued as LIBO a Fixed Rate Loans or (b) in a minimum amount Loan of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans such type (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Fixed Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Fixed Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, -------- ------- that (xi) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant all Lenders, and (yii) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Fixed Rate Loans when any Default or Event of Default has occurred and is continuing.
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Continuation and Conversion Elections. By delivering a ------------------------------------- Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon10:00 a.m., New York City time, on a Business Day, the applicable Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' notice (in or to the case of any extent Loans are being converted into Base Rate Loans, on the Business Day on which such conversion is to be made) that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger and an integral multiple of $500,0001,000,000, of any Loans to such Borrower be, in the case of Base Rate LoansLoans to such Borrower, converted into LIBO Rate Loans or, in the case of LIBO Rate LoansLoans to such Borrower, be converted into a Base Rate Loan or continued as a LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans Loan (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (xi) each such conversion or continuation shall -------- ------- be pro pro-rated among the applicable outstanding Loans to such Borrower --------- of the relevant all Lenders, and (yii) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noonp.m., New York City Boston, Massachusetts time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' notice (in the case of any Loans) that all, or any portion (a) in a minimum amount of $1,000,000 500,000 or any larger integral multiple of $500,000100,000, be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); providedPROVIDED, howeverHOWEVER, that (xa) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lenders, and (yb) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, 10:00 a.m. on a Business Day, the each Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) , or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor , and in either case not more than five Business Days' notice (in the case of any Loans) notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 2,000,000 and an integral multiple of $500,000, 1,000,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); providedPROVIDED, howeverHOWEVER, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Samples: Credit Agreement (World Almanac Education Group Inc)
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Paying Agent on or before 12:00 noon, New York City time, on a Business Day, the any Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or and three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than (in each case) five Business Days' notice (in the case of any Loans) that all, or any portion (a) in a an aggregate minimum amount of $5,000,000 and an integral multiple of $1,000,000, in the case of the continuation of, or conversion into, LIBO Rate Loans, or an aggregate minimum amount of $1,000,000 or any larger and an integral multiple of $500,000500,000 in the case of the conversion into Base Rate Loans, (other than Swing Line Loans as provided in clause (a) of Section 2.3.2) be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, be converted into a Base Rate Loan or continued as a LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans Loan (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lenders, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Continuation and Conversion Elections. By delivering a Continuation/Continuation/ Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) , or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor , and in either case not more than five Business Days' notice (in the case of any Loans) notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 5,000,000 and an integral multiple of $500,000, 1,000,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing. The Administrative Agent will promptly notify the Lenders of each such Continuation/Conversion Notice and the contents thereof.
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Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon1:00 p.m., New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's Days' notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) , or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into to LIBO Rate Loans) nor , and in either case not more than five Business Days' notice (in the case of any Loans) notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger and an integral multiple of $500,000, 1,000,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); providedPROVIDED, howeverHOWEVER, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Continuation and Conversion Elections. By delivering deliver- ing a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, on a Business Day, the any Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or and three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five (in each case) Business Days' notice (in the case of any Loans) that all, or any portion (a) in a an aggregate minimum amount of $5,000,000 and an integral multiple of $1,000,000, in the case of the continuation of, or conversion into, LIBO Rate Loans, or an aggregate minimum amount of $1,000,000 or any larger and an integral multiple of $500,000, 500,000 in the case of the conversion into Base Rate Loans (other than Swing Line Loans as provided in clause (a) of Section 2.3.2) be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, converted into a Base Rate Loan or continued as a LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans Loan (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, howeverhow- ever, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lenders, and (y) no portion of the outstanding principal amount of any Loans anyLoans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Continuation and Conversion Elections. By delivering a Continuation/Continuation/ Conversion Notice to the Administrative Agent on or before 12:00 noon1:00 p.m., New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one (1) Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' notice (in the case of any Loans that are to be continued as, or converted into Base Rate Loans, or three (3) Business Days' notice in the case of any Loans that are to be continued as, or converted into, LIBO Rate Loans, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 3,000,000 and in integral multiples of $500,000 in excess thereof, in the case of any Loans that are to be continued as, or any larger converted into, LIBO Rate Loans, or an aggregate minimum amount of $3,000,000 and an integral multiple of $500,000500,000 in excess thereof, in the case of any Loans that are to be continued as, or converted into, Base Rate Loans, be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO or continued as Base Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three (3) Business Days before the last day of the then then-current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to be continued as a Base LIBO Rate LoanLoan having an Interest Period of one (1) month); provided, however, that (x) each such conversion or continuation shall be pro rated prorated among the applicable outstanding Loans of the relevant all Lenders, and (y) no portion if any Event of Default is in existence at the outstanding principal amount applicable time of any Loans may be continued asproposed continuation of, or be converted conversion into, any LIBO Rate Loans, the Borrower may not elect to have a Loan converted into or continued as a LIBO Rate Loan and any outstanding LIBO Rate Loans when shall be automatically converted on the last day of the current Interest Period applicable thereto into Base Rate Loans. Administrative Agent shall give each Lender prompt notice of any Default or Event such proposed conversion affecting any of Default has occurred and is continuingits Loans.
Appears in 1 contract
Samples: Senior Unsecured Credit Agreement (Strategic Hotels & Resorts, Inc)
Continuation and Conversion Elections. By delivering a ------------------------------------- Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or and three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than (in each case) five Business Days' notice (in the case of any Loans) that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger and an integral multiple of $500,000, in the case of the continuation of, or conversion into, LIBO Rate Loans, or an aggregate minimum amount of $1,000,000 and an integral multiple of $500,000 in the case of the conversion into Base Rate Loans, be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, be converted into a Base Rate Loan or continued as a LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans Loan (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) -------- ------- each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lenders, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent and the Lenders on or before 12:00 noon10:00 a.m., New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one three (3) Business Day's Days’ notice (in the case of a continuation of or conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor , and on not more than five (5) Business Days' notice (in the case of any Loans) ’ notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 250,000 and an integral multiple of $500,000250,000, in the case of LIBO Rate Loans, or an aggregate minimum amount of $250,000 and an integral multiple of $250,000, in the case of Base Rate Loans, be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three (3) Business Days (but not more than five (5) Business Days) before the last day of the then current Interest Period with respect thereto, but subject in all events to clause (y) in the proviso of this sentence, such LIBO Rate Loan shall, on such last day, automatically convert to be continued as a Base LIBO Rate LoanLoan having a one (1) month Interest Period); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lenders, all Lenders and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Samples: Senior Secured Superpriority Debtor in Possession Credit Agreement
Continuation and Conversion Elections. By delivering a ------------------------------------- Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon11:00 a.m., New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' notice (in the case of any Loans) that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 10,000,000 and an integral multiple of $500,0001,000,000, of any Base Rate Loans or any LIBO Rate Loans be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, be converted into a Base Rate Loan or continued as a LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans Loan (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated -------- ------- among the applicable outstanding Revolving Loans of the relevant Lendersall Lenders to which such conversion or continuation is applicable, and (y) no portion of the outstanding principal amount of any Revolving Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or and three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than (in each case) five Business Days' notice (in the case of any Loans) that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 2,500,000 and an integral multiple of $500,000, in the case of the continuation of, or conversion into, LIBO Rate Loans, or an aggregate minimum amount of $500,000 and an integral multiple of $250,000, in the case of the conversion into Base Rate Loans (other than Swing Line Loans as provided in clause (a) of Section 2.3.2), be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, be converted into a Base Rate Loan or continued as a LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans Loan (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lenders, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Samples: Credit Agreement (Pasta Group L L C)
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon10:00 a.m., New York City time, on a Business Day, the Borrower Greektown Holdings may from time to time irrevocably elect, on not less than one (1) Business Day's ’s notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) , or three (3) Business Days' ’ notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into to LIBO Rate Loans) nor , and in either case not more than five (5) Business Days' notice (in the case of any Loans) ’ notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger and an integral multiple of $500,000, in the case of LIBO Rate Loans, or an aggregate minimum amount of $1,000,000 and an integral multiple of $500,000, in the case of Base Rate Loans, be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three (3) Business Days (but not more than five (5) Business Days) before the last day of the then current Interest Period with respect thereto, but subject in all events to clause (y) in the proviso of this sentence, such LIBO Rate Loan shall, on such last day, automatically convert to a Base LIBO Rate LoanLoan having a one (1) month Interest Period); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lenders, all Lenders that have made such Loans and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Samples: Senior Secured Debtor in Possession Credit Agreement (New Greektown Holdco LLC)
Continuation and Conversion Elections. By delivering a Continuation/Continuation/ Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, 11:00 a.m. on a Business Day, the Borrower may from time to time irrevocably elect, ,
(a) on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' notice (in the case of any Loans) notice, that all, or any portion of (ai) Base Rate Loans be converted into LIBO Rate Loans or (ii) LIBO Rate Loans be continued as LIBO Rate Loans, in either case, in an aggregate minimum amount of $2,000,000 in the case of the conversion or continuation of a Revolving Loan, and $5,000,000 in the case of the conversion or continuation of a Term Loan, and, in any case, in an integral multiple of $1,000,000 in excess thereof, or
(b) on not less than one nor more than five Business Days' notice, that all, or any portion of LIBO Rate Loans, in an aggregate minimum amount of $1,000,000 or any larger and an integral multiple of $500,000, be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, be converted into Base Rate Loans; provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of all Lenders that have made such Loans, (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default has occurred and is continuing, and (z) in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lenders, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Samples: Credit Agreement (Stericycle Inc)
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon10:00 a.m., New York City Denver time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into to LIBO Rate Loans) nor more than five Business Days' notice (in the case of any all Loans) that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 500,000 and an integral multiple of $500,000100,000, of any Loans (other than Swing Line Loans) be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, be converted into a Base Rate Loan or a LIBO Rate Loan or continued as a LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans Loan (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (xi) each such conversion or continuation shall be made pro rated rata among the applicable outstanding Loans Lenders in accordance with the respective principal amounts of the relevant LendersLoans comprising the converted or continued Borrowing, and (yii) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing, without the consent of the Required Lenders.
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Continuation and Conversion Elections. By delivering a ------------------------------------- Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon10:00 a.m., New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) , or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor , and in either case not more than five Business Days' notice (in the case of any Loans) notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 2,000,000 and an integral multiple of $500,000, 500,000 be, -39- in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion -------- ------- or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Continuation and Conversion Elections. By delivering a Continuation/Continuation/ Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, noon on a Business Day, the applicable Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) , or three Business Days' notice (in the case of a continuation of LIBO Rate Loans for an additional Interest Period or a conversion of Base Rate Loans into to LIBO Rate Loans) nor , and in either case not more than five Business Days' notice (in the case of any Loans) notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 500,000 and integral multiple multiples of $500,000, 100,000 of the Revolving Loans outstanding to such Borrower be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); providedPROVIDED, howeverHOWEVER, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans to such Borrower of the relevant Lendersall Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, 10:00 a.m. on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's ’s notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) , or three Business Days' ’ notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor , and in either case not more than five Business Days' notice (in the case of any Loans) ’ notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger and an integral multiple of $500,000, 500,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect relative to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, howeverhowever that, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, on a Business Day, the Borrower Company may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' notice (in the case of any Loans) that all, or any portion (a) in a minimum amount of $1,000,000 500,000 or any larger an integral multiple of $500,000100,000, of any Loans be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, be converted into Base Rate Loans or continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to be continued as a Base LIBO Rate LoanLoan having a one month Interest Period); provided, however, that (xa) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant all Current Assets Lenders or Fixed Assets Lenders, as applicable, and (yb) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon1:00 p.m., New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' notice (in the case of any Loans) that all, or any portion (a) in a minimum amount of $1,000,000 or any larger integral multiple of $500,000, be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of Base Rate Loans denominated in Dollars, converted into LIBO Rate LoansLoans denominated in Dollars or, in the case of LIBO Rate Loans denominated in Dollars, converted into Base Rate Loans denominated in Dollars or continued as LIBO Rate Loans denominated in Dollars (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan denominated in Dollars at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, (i) in the case of any Revolving Loan, automatically convert to a Base Rate Loan denominated in Dollars and (ii) in the case of any Term Loan, automatically be continued as a LIBO Rate Loan denominated in Dollars with a new Interest Period of one month); provided, however, provided that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lenders, and (y) no portion of the outstanding principal amount of any Loans denominated in Dollars may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, 10:00 a.m. on a Business Day, the Borrower may from time to time irrevocably elect, :
(a) on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' ’ notice, (i) to convert any Base Rate Loan into one or more LIBO Rate Loans denominated in Dollars or (ii) before the last day of the then current Interest Period with respect thereto, to continue any LIBO Rate Loan denominated in Dollars as a LIBO Rate Loan so denominated; and
(b) on not less than five nor more than ten Business Days’ notice before the last day of the then current Interest Period with respect thereto, to convert or continue any LIBO Rate Loan denominated in Euros as a LIBO Rate Loan denominated in Euros. provided that (in the case i) any portion of any Loans) that all, Loan which is continued or any portion (a) converted hereunder shall be in a minimum amount of $1,000,000 or any larger and in an integral multiple of $500,000, be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans 1,000,000 and (ii) in the absence of prior notice as required above (which notice may be delivered telephonically followed by written confirmation within 24 hours thereafter by delivery of a Continuation/Conversion Notice Notice), with respect to any LIBO Rate Loan denominated in Dollars at least three Business Days (or, with respect to any LIBO Rate Loan denominated in Euros, at least five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, provided further that (xA) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (yB) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Continuation and Conversion Elections. By delivering a Continuation/Continuation/ Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, 10:00 a.m. on a Business Day, the Borrower Borrowers may from time to time irrevocably elect, on not less than one Business Day's ’s notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) , or three Business Days' ’ notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor , and in either case not more than five Business Days' notice (in the case of any Loans) ’ notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger and an integral multiple of $500,000, 500,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect relative to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, howeverhowever that, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' notice (in the case of any Loans) that all, or any portion (a) in a minimum amount of $1,000,000 or any larger integral multiple of $500,000, be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); providedPROVIDED, howeverHOWEVER, -40- that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lenders, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
Appears in 1 contract
Samples: Credit Agreement (Duane Reade Inc)
Continuation and Conversion Elections. By delivering a Continuation/US Continuation/ Conversion Notice to the Administrative US Agent on or before 12:00 noon, New York City time, 1:00 p.m. (Local Time) on a Business Day, the US Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to US Base Rate Loans) , or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into US LIBO Rate Loans) nor , and in either case not more than five Business Days' notice (in the case of any Loans) notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger and an integral multiple of $500,000100,000, in the case of US LIBO Rate Loans, or an aggregate minimum amount of $1,000,000 and an integral multiple of $100,000, in the case of US Base Rate Loans, be, in the case of US Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as US LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of US LIBO Rate Loans, converted into US Base Rate Loans or continued as US LIBO Rate Loans (in the absence of delivery of a US Continuation/Conversion Notice with respect to any US LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a US Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding US Loans of the relevant Lendersall US Lenders that have made such US Loans, and (y) no portion of the outstanding principal amount of any US Loans may be continued as, or be converted into, US LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Continuation and Conversion Elections. By delivering telephonic notice, promptly followed (by the end of the Business Day on which such telephonic notice was delivered) by the delivery of a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon10:00 a.m., New York City time, on a Business Day, the any Revolving Credit Borrower may from time to time irrevocably elect, on not less than one Business Day's Days notice (in the case of a continuation or conversion of LIBO Rate Loans to into Base Rate Loans) , or three Business Days' Days notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor , and in either case not more than five Business Days' Days notice (in the case of any Loans) that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger and an integral multiple of $500,000, of any Revolving I Credit Loans, or an aggregate minimum amount of $5,000,000 and an integral multiple of $1,000,000, of any Revolving II Credit Loans, be, in the case of Base Rate Loans, converted into LIBO Rate Loans of either type or, in the case of LIBO Rate LoansLoans of either type, be converted into a Base Rate Loan or a LIBO Rate Loan of the other type or continued as a LIBO Rate Loans or (b) in a minimum amount Loan of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans such type (in the absence of delivery of a Continuation/Continuation/ Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (xi) each such conversion or continuation shall be pro rated among the applicable outstanding Revolving I Credit Loans or Revolving II Credit Loans, as the case may be, of the relevant all Revolving Credit Lenders, and (yii) no portion of the outstanding principal amount of any Revolving Credit Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon10:00 a.m., New York City Central time, on a Business Day, the Borrower may from time to time irrevocably elect, elect (a) on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' notice (notice, in the case of connection with any Loans) LIBO Rate Loan or any Base Rate Loan, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 500,000, and greater integral multiple multiples of $500,000, of any Loans be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, be continued as a LIBO Rate Loans or Loan, and (b) in on or before the last day of the then current Interest Period with respect to a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, Loan that such Loan be converted into a Base Rate Loans Loan (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant all Lenders, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noonp.m., New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into to LIBO Rate Loans) nor more than five Business Days' notice (in the case of any all Loans) that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 500,000 and an integral multiple of $500,000100,000, of any Loans (other than Swing Line Loans) be, in the case of Base Rate Loans, converted into LIBO Rate Loans of either type or, in the case of LIBO Rate LoansLoans of either type, be converted into a Base Rate Loan or a LIBO Rate Loan of the other type or continued as a LIBO Rate Loans or (b) in a minimum amount Loan of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans such type (in the absence of delivery of a Continuation/Continuation/ Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (xi) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant all Lenders, and (yii) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon10:00 a.m., New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's ’s notice (in the case of a conversion of LIBO Alternate Base Rate Loans to Base Rate Loans) or and three Business Days' ’ notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor , and in either case not more than five Business Days' notice (in the case of any Loans) ’ notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger and an integral multiple of $500,000, 500,000 be, in the case of Alternate Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Alternate Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a an Alternate Base Rate Loan); provided, however, provided that (x) each such conversion or continuation shall be pro pro-rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing. The conversion of an Alternate Base Rate Loan into a LIBO Rate Loan or a LIBO Rate Loan into an Alternate Base Rate Loan shall not effect a novation of the Loan so converted.
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Continuation and Conversion Elections. By delivering a Continuation/Continuation/ Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, on a Business Day, the applicable Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) , or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor , and in either case not more than five Business Days' notice (in the case of any Loans) notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 5,000,000 and an integral multiple of $500,000, 1,000,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing. The Administrative Agent will promptly notify the Lenders of each such Continuation/Conversion Notice and the contents thereof.
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Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, on a Business Day, the Borrower Borrower, may from time to time irrevocably elect, on not less than one Business Day's ’s notice (in the case of a conversion of LIBO Loans being converted into Base Rate Loans to Base Rate Loans) or three Business Days' ’ notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans being converted into LIBO Rate Loans) nor , and in either case not more than five Business Days' notice (in the case of any Loans) ’ notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 500,000 and an integral multiple of $500,000, 500,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); providedprovided that, however, that (xa) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (yb) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default or Borrowing Base Deficiency has occurred and is continuing. Each such irrevocable request may be made by telephone confirmed promptly by hand delivery, electronic mail or facsimile to the Administrative Agent of the applicable Continuation/Conversion Notice. The conversion of a Base Rate Loan into a LIBO Rate Loan or a LIBO Rate Loan into a Base Rate Loan shall not effect a novation of the Loan so converted.
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Samples: First Lien Exit Credit Agreement (Energy XXI Gulf Coast, Inc.)
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice three (in the case of a conversion of LIBO Rate Loans to Base Rate Loans3) or three Business Days' ’ notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' notice (in the case of any LoansLoans being converted into or continued as a LIBO Rate Loans and one (1) Business Day’s notice in the case of any Loan being converted into or continued as a Base Rate Loan, that all, all or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 500,000 and an integral multiple of $500,000, 100,000 of any Loans to the Borrower be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, converted on the last day of the then current Interest Period into a Base Rate Loan or continued as a LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans Loan (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three (3) Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base LIBO Rate LoanLoan having an Interest Period of one month except as provided in clause (ii) of the proviso to this Section 2.4); provided, however, that (xi) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of all Lenders to the relevant LendersBorrower, and (yii) no portion of the outstanding principal amount of any Loans may be so continued as, or be so converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing, and (iii) the continuation of a LIBO Rate Loan or the conversion of one type of Loan into another type of Loan pursuant to this Section 2.4 shall not constitute a Borrowing for purposes of Section 5.2 or Article VI of this Agreement.
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Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice (signed by all of the Borrowers) to the Administrative Agent on or before 12:00 noon10:00 a.m., New York City time, on a Business Day, the Borrower Borrowers may from time to time irrevocably elect, on not less than one Business Day's notice three (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans3) nor more than five (5) Business Days' notice (in the case of any Loans) notice, that all, all or any portion (a) in a minimum amount of $1,000,000 or any larger integral multiple of $500,000, Loans to any Borrower be, in the case of Base Rate Loans, converted into LIBO Rate Loans in an aggregate minimum amount of $500,000 and an integral multiple of $500,000, or, in the case of LIBO Rate Loans, be converted into a Base Rate Loan or a LIBO Rate Loan with a different Interest Period, or continued as a LIBO Rate Loans or (b) Loan with the same Interest Period, in a an aggregate minimum amount of $500,000 or any larger and an integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans 500,000 (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three (3) Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (xa) each such conversion or continuation shall be pro rated prorated among the applicable outstanding Loans of the relevant all Lenders, ; and (yb) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, on a Business Day, the Borrower WWI may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or and three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than (in each case) five Business Days' ’ notice (in the case of any Loans) that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 2,000,000 and an integral multiple of $500,000, in the case of the continuation of, or conversion into, LIBO Rate Loans, or an aggregate minimum amount of $500,000 and an integral multiple thereof, in the case of the conversion into Base Rate Loans (other than Swing Line Loans as provided in clause (a) of Section 2.3.2) be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, be converted into a Base Rate Loan or continued as a LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans Loan (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lenders, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Samples: Amendment No. 5 (Weight Watchers International Inc)
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon11:00 a.m., New York City time, Local Time on a Business Day, the a Borrower may from time to time irrevocably elect, on not less than one Business Day's ’s notice (in the case of a conversion of LIBO Rate Loans to into Base Rate Loans) or three Business Days' ’ notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' ’ notice (in the case of any Loans) that all, or any portion (a) in a minimum amount of $1,000,000 or any larger integral multiple of $500,000, be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000100,000 of, beBase Rate Loans be converted into LIBO Rate Loans or LIBO Rate Loans be continued as LIBO Rate Loans or, in the case of LIBO Term Loans and U.S. Revolving Loans only, converted to Base Rate Loans; provided, converted into Base Rate Loans (however, that, in the absence of delivery of a Continuation/Conversion Notice with respect to any Loan that is a LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, shall automatically convert to a Base Rate Loan), on such last day; provided, further, however, that (x) each such conversion or continuation of a portion of the Loans of a Borrowing shall be pro rated prorated among the applicable outstanding Loans of the relevant Lenders, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans (i) when any Default or Event of Default has occurred and is continuingcontinuing or (ii) on any day other than the last day of the Interest Period applicable to such LIBO Rate Loan.
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Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, noon on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) , or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor , and in either case not more than five ten Business Days' notice (in the case of any Loans) notice, that all, or any portion (a) in a an aggregate minimum amount of (i) in the case of US Term Loans, $1,000,000 or any larger and (ii) in the case of Sterling Term Loans (pound)1,000,000 and (b) in an integral multiple of (i) in the case of US Term Loans, $500,000500,000 and (ii) in the case of Sterling Term Loans, (pound)500,000, be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than ten Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, provided however, that (xa) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (yb) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing. Each such irrevocable election shall be made by telephone confirmed promptly by hand delivery or facsimile to the Administrative Agent of the applicable Continuation/Conversion Notice.
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Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, 10:00 a.m. on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Base Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor , and in either case not more than five Business Days' notice (in the case of any Loans) notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger and an integral multiple of $500,000, of the Loans identified in the Continuation/Conversion Notice be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (y) unless the Administrative Agent otherwise agrees in writing in its sole discretion, no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Continuation and Conversion Elections. By delivering a Continuation/Continuation/ Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, 10:00 a.m. on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) , or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor , and in either case not more than five Business Days' notice (in the case of any Loans) notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 5,000,000 and an integral multiple of $500,000, 1,000,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); providedPROVIDED, howeverHOWEVER, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City Hartford, Connecticut time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' notice (in the case of any Loans) notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 500,000 and an integral multiple of $500,000100,000, of any Loans be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, or in the case of LIBO Rate Loans, be converted into a Base Rate Loan or continued as a LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans Loan (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to into a Base Rate Loan); provided, however, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant all Lenders, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing. Upon receipt of a Continuation/Conversion Notice, the Agent shall promptly notify the other Lenders on the same day of the continuation or conversion requested thereby. Notwithstanding the foregoing, in the case of the conversion of a LIBO Rate Loan into a Base Rate Loan, the Borrower may make such election on not less than one nor more than five Business Days' notice.
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Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon, New York City time, on a Business Day, the Borrower may from time to time irrevocably elect, on not less than one Business Day's Days' notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) , or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor , and in either case not more than five Business Days' notice (in the case of any Loans) notice, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger and an integral multiple of $500,000, 1,000,000 be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, continued as LIBO Rate Loans or (b) in a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, converted into Base Rate Loans or continued as LIBO Rate Loans (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days (but not more than five Business Days) before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); providedPROVIDED, howeverHOWEVER, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant Lendersall Lenders that have made such Loans, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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Samples: Credit Agreement (Titan Corp)
Continuation and Conversion Elections. By delivering a Continuation/Conversion Notice to the Administrative Agent on or before 12:00 noon10:00 a.m., New York City Central time, on a Business Day, the Borrower may from time to time irrevocably elect, elect (a) on not less than one Business Day's notice (in the case of a conversion of LIBO Rate Loans to Base Rate Loans) or three Business Days' notice (in the case of a continuation of LIBO Rate Loans or a conversion of Base Rate Loans into LIBO Rate Loans) nor more than five Business Days' notice (notice, in the case of connection with any Loans) LIBO Rate Loan or any Base Rate Loan, that all, or any portion (a) in a an aggregate minimum amount of $1,000,000 or any larger 500,000, and greater integral multiple multiples of $500,000, of any Loans be, in the case of Base Rate Loans, converted into LIBO Rate Loans or, in the case of LIBO Rate Loans, be continued as a LIBO Rate Loans or Loan, and (b) in on or before the last day of the then current Interest Period with respect to a minimum amount of $500,000 or any larger integral multiple of $100,000, be, in the case of LIBO Rate Loans, Loan that such Loan be converted into a Base Rate Loans Loan (in the absence of delivery of a Continuation/Conversion Notice with respect to any LIBO Rate Loan at least three Business Days before the last day of the then current Interest Period with respect thereto, such LIBO Rate Loan shall, on such last day, automatically convert to a Base Rate Loan); providedPROVIDED, howeverHOWEVER, that (x) each such conversion or continuation shall be pro rated among the applicable outstanding Loans of the relevant all Lenders, and (y) no portion of the outstanding principal amount of any Loans may be continued as, or be converted into, LIBO Rate Loans when any Default or Event of Default has occurred and is continuing.
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