Common use of Continuation and Conversion Clause in Contracts

Continuation and Conversion. The Borrower shall have the option, on any Business Day, to extend existing Loans into a subsequent permissible Interest Period or to convert Loans into Loans of another interest rate type; provided, however, that (i) except as provided in Section 3.8, Eurodollar Loans may be converted into Base Rate Loans or extended as Eurodollar Loans for new Interest Periods only on the last day of the Interest Period applicable thereto, (ii) Eurodollar Loans may be extended, and Base Rate Loans may be converted into Eurodollar Loans, only if the conditions precedent set forth in Section 5.2 are satisfied on the date of Continuation or Conversion, (iii) Loans extended as, or converted into, Eurodollar Loans shall be subject to the terms of the definition of "Interest Period" and shall be in such minimum amounts as provided in Section 2.2(b), and (iv) any request for Continuation or Conversion of a Eurodollar Loan that shall fail to specify an Interest Period shall be deemed to be a request for an Interest Period of one month. Each such Continuation or Conversion shall be effected by the Borrower by giving a Notice of Continuation/Conversion (or telephonic notice promptly confirmed in writing) to the office of the Administrative Agent specified in Section 11.1, or at such other office as the Administrative Agent may designate to the Borrower in writing, prior to 12:00 noon (Charlotte, North Carolina time), on the Business Day of, in the case of the Conversion of a Eurodollar Loan into a Base Rate Loan, and on the third Business Day prior to, in the case of the Continuation of a Eurodollar Loan as, or Conversion of a Base Rate Loan into, a Eurodollar Loan, the date of the proposed Continuation or Conversion, specifying the date of the proposed Continuation or Conversion, the Loans to be so extended or converted, the types of Loans into which such Loans are to be converted and, if appropriate, the applicable Interest Periods with respect thereto. Each request for Continuation or Conversion shall be irrevocable and shall constitute a representation and warranty by the Borrower of the matters specified in Section 5.2. In the event the Borrower fails to request Continuation or Conversion of any Eurodollar Loan in accordance with this Section, or any such Conversion or Continuation is not permitted or required by this Section, then such Eurodollar Loan shall be automatically converted into a Base Rate Loan at the end of the Interest Period applicable thereto. The Administrative Agent shall give each affected Lender notice as promptly as practicable of any such proposed Continuation or Conversion affecting any Loan.

Continuation and Conversion. The Borrower shall have the option, on any Business Day, to extend existing Loans into a subsequent permissible Interest Period or to convert Loans into Loans of another interest rate type; provided, however, that (i) except as provided in Section 3.84.3, Eurodollar LIBOR Rate Loans may be converted into Base Prime Rate Loans or extended as Eurodollar LIBOR Rate Loans for new Interest Periods only on the last day of the Interest Period applicable thereto, (ii) Eurodollar without the consent of the Required Lenders, LIBOR Rate Loans may be extended, and Base Prime Rate Loans may be converted into Eurodollar LIBOR Rate Loans, only if the conditions precedent set forth in Section 5.2 5.3 are satisfied on the date of Continuation continuation or Conversionconversion, and (iii) Loans extended as, or converted into, Eurodollar into LIBOR Rate Loans shall be subject to in the terms minimum principal amount of the definition $5,000,000 or in integral multiple of "Interest Period" and shall be $500,000 in such minimum amounts as provided in Section 2.2(b), and (iv) any request for Continuation or Conversion of a Eurodollar Loan that shall fail to specify an Interest Period shall be deemed to be a request for an Interest Period of one monthexcess thereof. Each such Continuation continuation or Conversion conversion shall be effected by the Borrower by giving a Notice of Continuation/Conversion (or telephonic notice promptly confirmed in writing) to the office of the Administrative Agent specified in Section 11.1, or at such other office as the Administrative Agent may designate to the Borrower in writing, prior to 12:00 noon 11:00 a.m. (CharlotteTulsa, North Carolina Oklahoma time), ) on the Business Day of, in the case of the Conversion conversion of a Eurodollar LIBOR Rate Loan into a Base Prime Rate Loan, and on the third Business Day prior to, in the case of the Continuation continuation of a Eurodollar LIBOR Rate Loan as, or Conversion conversion of a Base Prime Rate Loan into, a Eurodollar LIBOR Rate Loan, the date of the proposed Continuation continuation or Conversionconversion, specifying the date of the proposed Continuation continuation or Conversionconversion, the Loans to be so extended continued or converted, the types of Loans into which such Loans are to be converted and, if appropriate, the applicable Interest Periods with respect thereto. If the Borrower shall fail to specify the applicable Interest Period in the case of a request for continuation of a LIBOR Rate Loan as, or conversion of a Prime Rate Loan into, a LIBOR Rate Loan, the Borrower shall be deemed to have requested an Interest Period of 30 days. Each request for Continuation continuation or Conversion conversion shall be irrevocable and shall constitute a representation and warranty by the Borrower of the matters specified in Section 5.2. In the event the Borrower fails to request Continuation or Conversion of any Eurodollar Loan in accordance with this Section, or any such Conversion or Continuation is not permitted or required by this Section, then such Eurodollar Loan shall be automatically converted into a Base Rate Loan at the end of the Interest Period applicable thereto. The Administrative Agent shall give each affected Lender notice as promptly as practicable of any such proposed Continuation or Conversion affecting any Loan.in

Continuation and Conversion. The Borrower shall have the option, on any Business Day, to extend existing Loans into a subsequent permissible Interest Period or to convert Loans into Loans of another interest rate type; provided, however, that (i) except as -------- provided in Section 3.8, Eurodollar Loans may be converted into Base Rate Loans or extended as Eurodollar Loans for new Interest Periods only on the last day of the Interest Period applicable thereto, (ii) Eurodollar Loans may be extended, and Base Rate Loans may be converted into Eurodollar Loans, only if the conditions precedent set forth in Section 5.2 are satisfied on the date of Continuation or Conversion, (iii) Loans extended as, or converted into, Eurodollar Loans shall be subject to the terms of the definition of "Interest Period" and shall be in such minimum amounts as provided in Section 2.2(b), and (iv) any request for Continuation or Conversion of a Eurodollar Loan that which shall fail to specify an Interest Period shall be deemed to be a request for an Interest Period of one month. Each such Continuation or Conversion shall be effected by the Borrower by giving a Notice of Continuation/Conversion (or telephonic notice promptly confirmed in writing) to the office of the Administrative Agent specified in Section 11.1, or at such other office as the Administrative Agent may designate to the Borrower in writing, prior to 12:00 noon 11:00 A.M. (Charlotte, North Carolina time), on the Business Day of, in the case of the Conversion of a Eurodollar Loan into a Base Rate Loan, and on the third Business Day prior to, in the case of the Continuation of a Eurodollar Loan as, or Conversion of a Base Rate Loan into, a Eurodollar Loan, the date of the proposed Continuation or Conversion, specifying the date of the proposed Continuation or Conversion, the Loans to be so extended or converted, the types of Loans into which such Loans are to be converted and, if appropriate, the applicable Interest Periods with respect thereto. Each request for Continuation or Conversion shall be irrevocable and shall constitute a representation and warranty by the Borrower of the matters specified in Section 5.2. In the event the Borrower fails to request Continuation or Conversion of any Eurodollar Loan in accordance with this Section, or any such Conversion or Continuation is not permitted or required by this Section, then such Eurodollar Loan shall be automatically converted into a Base Rate Loan at the end of the Interest Period applicable thereto. The Administrative Agent shall give each affected Lender notice as promptly as practicable of any such proposed Continuation or Conversion affecting any Revolving Loan.

Continuation and Conversion. The Borrower Company shall have the option, on any Business Day, to extend existing Loans into a subsequent permissible Interest Period or to convert Loans into Loans of another interest rate type; provided, however, that (i) except as provided in Section 3.8, Eurodollar Eurocurrency Loans may be converted into Base Rate Loans or extended as Eurodollar Eurocurrency Loans for new Interest Periods only on the last day of the Interest Period applicable thereto, (ii) Eurodollar Eurocurrency Loans may be extended, and Base Rate Loans may be converted into Eurodollar Eurocurrency Loans, only if the conditions precedent set forth in Section 5.2 are satisfied on the date of Continuation or Conversion, (iii) Loans extended as, or converted into, Eurodollar Eurocurrency Loans shall be subject to the terms of the definition of "Interest Period" and shall be in such minimum amounts as provided in Section 2.2(b), and (iv) any request for Continuation or Conversion of a Eurodollar Eurocurrency Loan that which shall fail to specify an Interest Period shall be deemed to be a request for an Interest Period of one month. Each such Continuation or Conversion shall be effected by the Borrower Company by giving a Notice of Continuation/Conversion (or telephonic notice promptly confirmed in writing) to the office of the Administrative Agent specified in Section 11.1, or at such other office as the Administrative Agent may designate to the Borrower in writing, prior to 12:00 noon 11:00 A.M. (Charlotte, North Carolina time), (x) on the Business Day ofof the requested Continuation or Conversion, in the case of the Conversion of a Eurodollar Eurocurrency Loan into a Base Rate Loan, Loan and (y) on the third Business Day prior toto the date of the requested Continuation or Conversion, in the case of the Continuation of a Eurodollar Eurocurrency Loan as, or Conversion of a Base Rate Loan into, a Eurodollar Eurocurrency Loan, . The Notice of Continuation/Conversion shall specify the date of the proposed Continuation or Conversion, specifying the date of the proposed Continuation or Conversion, the Loans to be so extended or converted, the types of Loans into which such Loans are to be converted converted, and, if appropriate, the applicable Interest Periods with respect thereto. Each request for Continuation or Conversion shall be irrevocable and shall constitute a representation and warranty by the Borrower Company of the matters specified in Section 5.2. In the event the Borrower Company fails to request Continuation or Conversion of any Eurodollar Eurocurrency Loan in accordance with this Section, or any such Conversion or Continuation is not permitted or required by this Section, then such Eurodollar Eurocurrency Loan shall be automatically converted into a Base Rate Loan at the end of the Interest Period applicable thereto. The Administrative Agent shall give each affected Lender notice as promptly as practicable of any such proposed Continuation or Conversion affecting any Revolving Loan.

Continuation and Conversion. The Borrower shall have the option, on any Business Day, to extend existing Loans into a subsequent permissible Interest Period or to convert Loans into Loans of another interest rate type; provided, however, that (i) except as -------- ------- provided in Section 3.8, Eurodollar Loans may be converted into Base Rate Loans or extended as Eurodollar Loans for new Interest Periods only on the last day of the Interest Period applicable thereto, (ii) without the consent of the Required Lenders, Eurodollar Loans may be extended, and Base Rate Loans may be converted into Eurodollar Loans, only if the conditions precedent set forth in Section 5.2 are satisfied on the date of Continuation or Conversion, (iii) Loans extended as, or converted into, Eurodollar Loans shall be subject to the terms of the definition of "Interest Period" and shall be in such minimum amounts as provided in Section 2.2(b), (iv) no more than ten (10) Eurodollar Loans which comprise Revolving Loans, no more than five (5) Eurodollar Loans which comprise the Asset Sale Loan, no more than five (5) Eurodollar Loans which comprise the Tranche A Term Loan and no more than five (5) Eurodollar Loans which comprise the Tranche B Term Loan shall be outstanding hereunder at any time (it being understood that, for purposes hereof, Eurodollar Loans with different Interest Periods shall be considered as separate Eurodollar Loans, even if they begin on the same date, although borrowings, Continuations and Conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new Eurodollar Loan with a single Interest Period) and (ivv) any request for Continuation or Conversion of a Eurodollar Loan that which shall fail to specify an Interest Period shall be deemed to be a request for an Interest Period of one (1) month. Each such Continuation or Conversion shall be effected by the Borrower by giving a Notice of ContinuationExtension/Conversion (or telephonic notice promptly confirmed in writing) to the office of the Administrative Agent specified in Section 11.1Schedule 2.1, or at such other office as the Administrative Agent ------------ may designate to the Borrower in writing, prior to 12:00 noon 11:00 A.M. (Charlotte, North Carolina time), ) on the Business Day of, in the case of the Conversion of a Eurodollar Loan into a Base Rate Loan, and on the third Business Day prior to, in the case of the Continuation of a Eurodollar Loan as, or Conversion of a Base Rate Loan into, a Eurodollar Loan, the date of the proposed Continuation or Conversion, specifying the date of the proposed Continuation or Conversion, the Loans to be so extended Continued or convertedConverted, the types of Loans into which such Loans are to be converted Converted and, if appropriate, the applicable Interest Periods with respect thereto. Each request for Continuation or Conversion shall be irrevocable and shall constitute a representation and warranty by the Borrower of the matters specified in subsections (a), (b), (c), (d) and (e) of Section 5.2. In the event the Borrower fails to request Continuation or Conversion of any Eurodollar Loan in accordance with this Section, or any such Conversion or Continuation is not permitted or required by this Section, then such Eurodollar Loan shall be automatically converted Converted into a Base Rate Loan at the end of the Interest Period applicable thereto. The Administrative Agent shall give each affected Lender notice as promptly as practicable of any such proposed Continuation extension or Conversion conversion affecting any Loan.