Common use of Continuation Notice Clause in Contracts

Continuation Notice. (a) Subject to Section 2.15 (Increased Costs; Capital Adequacy) and so long as no Default or Event of Default shall have occurred and then be continuing, the Borrower shall have the option: (i) to convert at any time all or any part of any First Priority Term Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan unless the Borrower shall pay all amounts due under Section 2.14 (Making or Maintaining First Priority Term Loans) in connection with any such conversion; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such First Priority Term Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a LIBOR Rate Loan. (b) The Borrower shall deliver a Continuation Notice to the Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith. In the event that the Borrower shall have failed to provide a Continuation Notice as required by this Section 2.06(b) to continue any LIBOR Rate Loan into a subsequent Interest Period (and shall not otherwise have given notice in accordance with this Section 2.06(b) to convert such LIBOR Rate Loan into a Base Rate Loan), then such LIBOR Rate Loan shall, at the end of the applicable Interest Period, automatically be converted into a Base Rate Loan. (c) Any Continuation Notice shall be executed by an Officer of the Borrower in a writing delivered to the Administrative Agent. In lieu of delivering a written notice, the Borrower may give the Administrative Agent telephonic notice by the required time of any continuation; provided each such notice shall be promptly confirmed in writing by delivery of the applicable Continuation Notice to the Administrative Agent on or before the applicable date of continuation. Neither the Administrative Agent nor any Lender shall incur any liability to the Borrower in acting upon any telephonic notice referred to above that the Administrative Agent believes in good faith to have been given by a duly authorized officer or other Person authorized on behalf of the Borrower or otherwise acting in good faith

Continuation Notice. (a) Subject to Section 2.15 (Increased Costs; Capital Adequacy) and so long as no Default or Event of Default shall have occurred and then be continuing, the Borrower shall have the option: (i) to convert at any time all or any part of any First Second Priority Term Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan unless the Borrower shall pay all amounts due under Section 2.14 (Making or Maintaining First Second Priority Term Loans) in connection with any such conversion; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such First Second Priority Term Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a LIBOR Rate Loan. (b) The Borrower shall deliver a Continuation Notice to the Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith. In the event that the Borrower shall have failed to provide a Continuation Notice as required by this Section 2.06(b) to continue any LIBOR Rate Loan into a subsequent Interest Period (and shall not otherwise have given notice in accordance with this Section 2.06(b) to convert such LIBOR Rate Loan into a Base Rate Loan), then such LIBOR Rate Loan shall, at the end of the applicable Interest Period, automatically be converted into a Base Rate Loan. (c) Any Continuation Notice shall be executed by an Officer of the Borrower in a writing delivered to the Administrative Agent. In lieu of delivering a written notice, the Borrower may give the Administrative Agent telephonic notice by the required time of any continuation; provided each such notice shall be promptly confirmed in writing by delivery of the applicable Continuation Notice to the Administrative Agent on or before the applicable date of continuation. Neither the Administrative Agent nor any Lender shall incur any liability to the Borrower in acting upon any telephonic notice referred to above that the Administrative Agent believes in good faith to have been given by a duly authorized officer or other Person authorized on behalf of the Borrower or otherwise acting in good faith

Continuation Notice. (a) Subject to Section 2.15 2.1.15 (Increased Costs; Capital Adequacy) and so long as no Default or Event of Default shall have occurred and then be continuing, the Borrower shall have the option: (i) to convert at any time all or any part of any First Priority Term Revolving Loan equal to $5,000,000 2,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan unless the Borrower shall pay all amounts due under Section 2.14 2.1.14 (Making or Maintaining First Priority Term Revolving Loans) in connection with any such conversion; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such First Priority Term Revolving Loan equal to $5,000,000 2,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount as a LIBOR Rate Loan. (b) The Borrower shall deliver a Continuation Notice to the Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith. In the event that the Borrower shall have failed to provide a Continuation Notice as required by this Section 2.06(b) to continue any LIBOR Rate Loan into a subsequent Interest Period (and shall not otherwise have given notice in accordance with this Section 2.06(b) to convert such LIBOR Rate Loan into a Base Rate Loan), then such LIBOR Rate Loan shall, at the end of the applicable Interest Period, automatically be converted into a Base Rate Loan. (c) Any Continuation Notice shall be executed by an Officer of the Borrower in a writing delivered to the Administrative Agent. In lieu of delivering a written notice, the Borrower may give the Administrative Agent telephonic notice by the required time of any continuation; provided each such notice shall be promptly confirmed in writing by delivery of the applicable Continuation Notice to the Administrative Agent on or before the applicable date of continuation. Neither the Administrative Agent nor any Lender shall incur any liability to the Borrower in acting upon any telephonic notice referred to above that the Administrative Agent believes in good faith to have been given by a duly authorized officer or other Person authorized on behalf of the Borrower or otherwise acting in good faith2.1.6

Continuation Notice. (a) Subject to Section 2.15 2.1.15 (Increased Costs; Capital Adequacy) and so long as no Default or Event of Default shall have occurred and then be continuing, the Borrower shall have the option: (i) to convert at any time all or any part of any First Priority Term Revolving Loan equal to $5,000,000 2,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan unless the Borrower shall pay all amounts due under Section 2.14 2.1.14 (Making or Maintaining First Priority Term Revolving Loans) in connection with any such conversion; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such First Priority Term Revolving Loan equal to $5,000,000 2,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount as a LIBOR Rate Loan. (b) The Borrower shall deliver a Continuation Notice to the Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to effect a conversion or continuation in accordance therewith. In the event that the Borrower shall have failed to provide a Continuation Notice as required by this Section 2.06(b2.1.6(b) to continue any LIBOR Rate Loan into a subsequent Interest Period (and shall not otherwise have given notice in accordance with this Section 2.06(b2.1.6(b) to convert such LIBOR Rate Loan into a Base Rate Loan), then such LIBOR Rate Loan shall, at the end of the applicable Interest Period, automatically be converted into a Base Rate Loan. (c) Any Continuation Notice shall be executed by an Officer of the Borrower in a writing delivered to the Administrative Agent. In lieu of delivering a written notice, the Borrower may give the Administrative Agent telephonic notice by the required time of any continuation; provided each such notice shall be promptly confirmed in writing by delivery of the applicable Continuation Notice to the Administrative Agent on or before the applicable date of continuation. Neither the Administrative Agent nor any Lender shall incur any liability to the Borrower in acting upon any telephonic notice referred to above that the Administrative Agent believes in good faith to have been given by a duly authorized officer or other Person authorized on behalf of the Borrower or otherwise acting in good faith.