Common use of Continuation Options Clause in Contracts

Continuation Options. Subject to the terms of this Agreement, the Company may elect to continue all or any part of any Eurodollar Loan that is a Conventional Loan beyond the expiration of the then current Interest Period relating thereto by giving advance notice to the Administrative Agent of such election, specifying the amount of such Eurodollar Loan to be continued and the Interest Period therefor. In the absence of such a timely and proper election, the Company shall be deemed to have elected to convert such Eurodollar Loan to a Base Rate Loan. All or any part of any Eurodollar Loan may be continued as provided herein, provided that (i) the principal amount of all or any part of a Loan so continued shall be not less than $3,000,000 in the aggregate for all Lenders and (ii) no Default shall have occurred and be continuing. If a Default shall have occurred and be continuing, each Eurodollar Loan shall be converted to a Base Rate Loan on the last day of the Interest Period applicable thereto. The Company may not continue Bid Rate Loans.

Continuation Options. Subject to the terms of this Agreement, the Company may elect to continue all or any part of any Eurodollar Loan that is a Conventional Loan beyond the expiration of the then current Interest Period relating thereto by giving advance notice to the Administrative Agent of such election, specifying the amount of such Eurodollar Loan to be continued and the Interest Period therefor. In the absence of such a timely and proper election, the Company shall be deemed to have elected to convert such Eurodollar Loan to a Base Rate Loan. All or any part of any Eurodollar Loan may be continued as provided herein, provided that (i) the principal amount of all or any part of a Loan so continued shall be not less than $3,000,000 in the aggregate for all Lenders and (ii) no Default shall have occurred and be continuing. If a Default shall have occurred and be continuing, each Eurodollar Loan shall be converted to a Base Rate Loan on the last day of the Interest Period applicable thereto. The Company may not continue Bid Rate Loans.

Continuation Options. Subject to the terms of this Agreement, the Company may elect to continue all or any part of any Eurodollar Loan that is a Conventional Loan beyond the expiration of the then current Interest Period relating thereto by giving advance notice to the Administrative Agent of such election, specifying the amount of such Eurodollar Loan to be continued and the Interest Period therefor. In the absence of such a timely and proper election, the Company shall be deemed to have elected to convert such Eurodollar Loan to a Base Rate Loan. All or any part of any Eurodollar Loan may be continued as provided herein, provided that (i) the principal amount of all or any part of a Loan so continued shall be not less than $3,000,000 1,000,000 in the aggregate for all Lenders and (ii) no Default shall have occurred and be continuing. If a Default shall have occurred and be continuing, each Eurodollar Loan shall be converted to a Base Rate Loan on the last day of the Interest Period applicable thereto. The Company may not continue Bid Rate Loans.