Common use of Continuation or Conversion of Loans Clause in Contracts

Continuation or Conversion of Loans. The Borrower may elect to (i) continue any outstanding LIBOR Advance from one Interest Period into a subsequent Interest Period to begin on the last day of the earlier Interest Period, or (ii) convert any outstanding Advance into another type of Advance (on the last day of an Interest Period only, in the instance of a LIBOR Advance), by giving the Agent notice in writing, or by telephone promptly confirmed in writing, given so as to be received by the Agent not later than: (a) 1:00 p.m., Minneapolis time, one Business day prior to the date of the requested continuation or conversion, if the continuing or converted Advance shall be a Base Rate Advance; or (b) 12:00 noon, Minneapolis time, three Business days prior to the date of the requested continuation or conversion, if the continuing or converted Advance shall be a LIBOR Advance. Each notice of continuation or conversion of an Advance shall specify (i) the effective date of the continuation or conversion date (which shall be a Business Day), (ii) the amount and the type or types of Advances following such continuation or conversion (subject to the limitation on amount set forth in Section 2.2), and (iii) for continuation as, or conversion into, LIBOR Advances, the Interest Periods for such Advances. Absent timely notice of continuation or conversion, following expiration of an Interest Period unless the LIBOR Advance is paid in full the Agent may at any time thereafter convert the LIBOR Advance into a Base Rate Advance. Until such time as such Advance is converted into a Base Rate Advance by the Agent or the Borrower or is continued as a LIBOR Advance with a new Interest Period by notice by the Borrower as provided above, such Advance shall continue to accrue interest at a rate equal to the interest rate applicable during the expired Interest Period adjusted, however, to reflect changes in the Applicable Margin. No Advance shall be continued as, or converted into, a LIBOR Advance if the shortest Interest Period for such Advance may not transpire prior to the Termination Date or if a Default or Event of Default shall exist.

Continuation or Conversion of Loans. The Borrower Borrowers may elect to (i) continue any outstanding LIBOR Advance from one Interest Period into a subsequent Interest Period to begin on the last day of the earlier Interest Period, or (ii) convert any outstanding Advance into another type of Advance (Advance, on the last day of an Interest Period only, in the instance of only for a Fixed LIBOR Advance), by giving the Agent notice in writing, or by telephone promptly confirmed in writingwriting or by e-mail, given so as to be received by the Agent not later than: (a) 1:00 p.m.11:00 a.m., Minneapolis time, one on the day of the requested continuation or conversion, if the continuing or as-converted Advance shall be a Floating LIBOR Advance or a Base Rate Advance; (b) 11:00 a.m., Minneapolis time, three Business day Days prior to the date of the requested continuation or conversion, if the continuing or as-converted Advance shall be a Base Rate AdvanceFixed LIBOR Advance in Dollars; or (bc) 12:00 noon11:00 a.m., Minneapolis time, three four Business days Days prior to the date of the requested continuation or conversion, if the continuing or as-converted Advance shall be a Fixed LIBOR AdvanceAdvance in Alternative Currencies. Each notice of continuation or conversion of an Advance shall specify (i) the effective date of the continuation or conversion date (which shall be a Business Day), (ii) the amount and the type or types of Advances following such continuation or conversion (subject to the limitation on amount set forth in Section 2.2), and (iii) for continuation as, or conversion into, LIBOR Advances, the Interest Periods for such Advances. Absent timely notice of continuation or conversion, following expiration of an Interest Period unless the a Fixed LIBOR Advance is paid in full full, the Agent may at any time thereafter convert the such Fixed LIBOR Advance into an Advance which shall bear interest at either (1) the Base Rate, for an Advance in Dollars, or (2) the rate established for a Base Rate new Interest Period of one month for an Advance in an Alternative Currency (and the Borrowers shall be deemed to have selected such Interest Period for such Advance). Until At the option of the Agent, until such time as such Advance is so converted into a Base Rate Advance by the Agent or the Borrower Borrowers or is continued as a Fixed LIBOR Advance with a new Interest Period by notice by the Borrower Borrowers as provided above, such Fixed LIBOR Advance shall continue to accrue interest at a rate equal to the interest rate applicable during the expired Interest Period adjustedPeriod. Each Floating LIBOR Advance and Base Rate Advance shall continue as a Floating LIBOR Advance or Base Rate Advance (as the case may be) until notice of conversion shall be given as provided above. At the option of the Agent, however, to reflect changes no Revolving Loan in the Applicable Margin. No Advance Dollars shall be continued as, or converted into, a Fixed LIBOR Advance if the shortest Interest Period for such Advance may not transpire prior to the Termination Date or if a Default or Event of Default shall exist.

Continuation or Conversion of Loans. The Borrower may elect to (i) continue any outstanding LIBOR Advance from one Interest Period into a subsequent Interest Period to begin on the last day of the earlier Interest Period, or (ii) convert any outstanding Advance into another type of Advance (on the last day of an Interest Period only, in the instance of a LIBOR Advance), by giving the Agent notice in writing, or by telephone promptly confirmed in writing, given so as to be received by the Agent not later than: (a) 1:00 p.m., Minneapolis time, one Business day prior to on the date of the requested continuation or conversion, if the continuing or converted Advance shall be a Base Rate Advance; or (b) 12:00 noon, Minneapolis time, three Business days Days prior to the date of the requested continuation or conversion, if the continuing or converted Advance shall be a LIBOR Advance. Each notice of continuation or conversion of an Advance shall specify (i) the effective date of the continuation or conversion date (which shall be a Business Day), (ii) the amount and the type or types of Advances following such continuation or conversion (subject to the limitation on amount set forth in Section 2.2), and (iii) for continuation as, or conversion into, LIBOR Advances, the Interest Periods for such Advances. Absent timely notice of continuation or conversion, following expiration of an Interest Period unless the LIBOR Advance is paid in full full, the Agent may at any time thereafter convert the LIBOR Advance into a Base Rate Advance. Until such time as such Advance is converted into a Base Rate Advance by the Agent or the Borrower or is continued as a LIBOR Advance with a new Interest Period by notice by the Borrower as provided above, such Advance shall continue to accrue interest at a rate equal to the interest rate applicable during the expired Interest Period adjusted, however, to reflect changes in the Applicable Margin. No Advance shall be continued as, or converted into, a LIBOR Advance if the shortest Interest Period for such Advance may not transpire prior to the Termination Date or if a Default or Event of Default shall existexist and the Agent has given notice to the Borrower that no such continuations or conversions may be made.

Continuation or Conversion of Loans. The Borrower may elect to (i) continue any outstanding LIBOR Eurodollar Advance from one Interest Period into a subsequent Interest Period to begin on the last day of the earlier Interest Period, or (ii) convert any outstanding Advance into another type of Advance (on the last day of an Interest Period only, in the instance of a LIBOR Eurodollar Advance), by giving the Agent notice in writing, or by telephone promptly confirmed in writing, given so as to be received by the Agent not later than: (a) 1:00 p.m.10:00 a.m., Minneapolis time, one Business day prior to on the date of the requested continuation or conversion, if the continuing or converted Advance shall be a Base Federal Funds Rate Advance; (b) 10:00 a.m., Minneapolis time, on the date of the requested continuation or conversion, if the continuing or converted Advance shall be a Eurodollar Advance having an Interest Period of one (1) week; or (bc) 12:00 noon10:00 a.m., Minneapolis time, three two (2) Business days prior to the date of the requested continuation or conversion, if the continuing or converted Advance shall be a LIBOR AdvanceEurodollar Advance having an Interest Period of two (2) weeks or longer. Each notice of continuation or conversion of an Advance shall specify (i) the effective date of the continuation or conversion date (which shall be a Business Day), (ii) the amount and the type or types of Advances following such continuation or conversion (subject to the limitation on amount set forth in Section SECTION 2.2), and (iii) for continuation as, or conversion into, LIBOR Eurodollar Advances, the Interest Periods for such Advances. Absent timely notice of continuation or conversion, following expiration each Eurodollar Advance shall automatically convert into a Federal Funds Rate Advance on the last day of an applicable Interest Period Period, unless the LIBOR Advance is paid in full the Agent may at any time thereafter convert the LIBOR Advance into a Base Rate Advance. Until on such time as such Advance is converted into a Base Rate Advance by the Agent or the Borrower or is continued as a LIBOR Advance with a new Interest Period by notice by the Borrower as provided above, such Advance shall continue to accrue interest at a rate equal to the interest rate applicable during the expired Interest Period adjusted, however, to reflect changes in the Applicable Marginlast day. No Advance shall be continued as, or converted into, a LIBOR Eurodollar Advance if a Default or Event of Default shall exist or if the shortest Interest Period for such Advance may not transpire prior to the Termination Date in the case of a Revolving Loan or if the Term Loan Maturity Date in the case of a Default or Event of Default shall existTerm Loan.

Continuation or Conversion of Loans. The Borrower may elect to (i) continue any outstanding LIBOR Advance from one Interest Period into a subsequent Interest Period to begin on the last day of the earlier Interest Period, or (ii) convert any outstanding Advance into another type of Advance (on the last day of an Interest Period only, in the instance of a LIBOR Advance), by giving the Agent notice in writing, or by telephone promptly confirmed in writing, given so as to be received by the Agent not later than: (a) 1:00 p.m., Minneapolis time, one Business day prior to on the date of the requested continuation or conversion, if the continuing or converted Advance shall be a Base Rate Advance; or (b) 12:00 noon, Minneapolis time, three Business days Days prior to the date of the requested continuation or conversion, if the continuing or converted Advance shall be a LIBOR Advance. Each notice of continuation or conversion of an Advance shall specify (i) the effective date of the continuation or conversion date (which shall be a Business Day), (ii) the amount and the type or types of Advances following such continuation or conversion (subject to the limitation on amount set forth in Section 2.2), and (iii) for continuation as, or conversion into, LIBOR Advances, the Interest Periods for such Advances. Absent timely notice of continuation or conversion, following expiration of an Interest Period unless the LIBOR Advance is paid in full the Agent may at any time thereafter convert the LIBOR Advance into a Base Rate Advance. Until such time as such Advance is converted into a Base Rate Advance by the Agent or the Borrower or is continued as a LIBOR Advance with a new Interest Period by notice by the Borrower as provided above, such Advance shall continue to accrue interest at a rate equal to the interest rate applicable during the expired Interest Period adjusted, however, to reflect changes in the Applicable Margin. No Advance shall be continued as, or converted into, a LIBOR Advance if the shortest Interest Period for such Advance may not transpire prior to the Termination Date or if a Default or Event of Default shall existexist and the Agent has given notice to the Borrower that no such continuations or conversions may be made.

Continuation or Conversion of Loans. The Borrower may elect to (i) continue any outstanding LIBOR Eurodollar Advance from one Interest Period into a subsequent Interest Period to begin on the last day of the earlier Interest Period, or (ii) convert any outstanding Advance into another type of Advance (on the last day of an Interest Period only, in the instance of a LIBOR Eurodollar Advance), by giving the Agent notice in writing, or by telephone promptly confirmed in writing, given so as to be received by the Agent not later than: (a) 1:00 p.m.10:00 a.m., Minneapolis time, one Business day prior to on the date of the requested continuation or conversion, if the continuing or converted Advance shall be a Base Federal Funds Rate Advance; (b) 10:00 a.m., Minneapolis time, on the date of the requested continuation or conversion, if the continuing or converted Advance shall be a Eurodollar Advance having an Interest Period of one (1) week; or (bc) 12:00 noon10:00 a.m., Minneapolis time, three two (2) Business days prior to the date of the requested continuation or conversion, if the continuing or converted Advance shall be a LIBOR AdvanceEurodollar Advance having an Interest Period of two (2) weeks or longer. Each notice of continuation or conversion of an Advance shall specify (i) the effective date of the continuation or conversion date (which shall be a Business Day), (ii) the amount and the type or types of Advances following such continuation or conversion (subject to the limitation on amount set forth in Section 2.2), and (iii) for continuation as, or conversion into, LIBOR Eurodollar Advances, the Interest Periods for such Advances. Absent timely notice of continuation or conversion, following expiration each Eurodollar Advance shall automatically convert into a Federal Funds Rate Advance on the last day of an applicable Interest Period Period, unless the LIBOR Advance is paid in full the Agent may at any time thereafter convert the LIBOR Advance into a Base Rate Advance. Until on such time as such Advance is converted into a Base Rate Advance by the Agent or the Borrower or is continued as a LIBOR Advance with a new Interest Period by notice by the Borrower as provided above, such Advance shall continue to accrue interest at a rate equal to the interest rate applicable during the expired Interest Period adjusted, however, to reflect changes in the Applicable Marginlast day. No Advance shall be continued as, or converted into, a LIBOR Eurodollar Advance if a Default or Event of Default shall exist or if the shortest Interest Period for such Advance may not transpire prior to the Termination Date in the case of a Revolving Loan or if the Term Loan Maturity Date in the case of a Default or Event of Default shall existTerm Loan.

Continuation or Conversion of Loans. The Borrower may elect to (i) continue any outstanding LIBOR Term SOFR Advance from one Interest Period into a subsequent Interest Period to begin on the last day of the earlier Interest Period, or (ii) convert any outstanding Advance into another type of Advance (on the last day of an Interest Period only, in the instance of a LIBOR Term SOFR Advance), by giving the Agent notice in writing, or by telephone promptly confirmed in writing, given so as to be received by the Agent not later than: (a) 1:00 p.m., Minneapolis time, one Business day prior to on the date of the requested continuation or conversion, if the continuing or converted Advance shall be a Base Rate Advance; or (b) 12:00 noon, Minneapolis time, three Business days Days prior to the date of the requested continuation or conversion, if the continuing or converted Advance shall be a LIBOR Term SOFR Advance. Each notice of continuation or conversion of an Advance shall specify (i) the effective date of the continuation or conversion date (which shall be a Business Day), (ii) the amount and the type or types of Advances following such continuation or conversion (subject to the limitation on amount set forth in Section 2.2), and (iii) for continuation as, or conversion into, LIBOR Term SOFR Advances, the Interest Periods for such Advances. Absent timely notice of continuation or conversion, following expiration of an Interest Period unless the LIBOR Term SOFR Advance is paid in full full, the Agent may at any time thereafter convert the LIBOR Term SOFR Advance into a Base Rate Advance. Until such time as such Advance is converted into a Base Rate Advance by the Agent or the Borrower or is continued as a LIBOR Term SOFR Advance with a new Interest Period by notice by the Borrower as provided above, such Advance shall continue to accrue interest at a rate equal to the interest rate applicable during the expired Interest Period adjusted, however, to reflect changes in the Applicable Margin. No Advance shall be continued as, or converted into, a LIBOR Term SOFR Advance if the shortest Interest Period for such Advance may not transpire prior to the Termination Date or if a Default or Event of Default shall existexist and the Agent has given notice to the Borrower that no such continuations or conversions may be made.

Continuation or Conversion of Loans. The Borrower Borrowers may elect to (i) continue any outstanding LIBOR Advance from one Interest Period into a subsequent Interest Period to begin on the last day of the earlier Interest Period, or (ii) convert any outstanding Advance into another type of Advance (Advance, on the last day of an Interest Period onlyonly for a Term SOFR Advance, in the instance of a LIBOR EURIBOR Advance), XXXXX Advance, or applicable Other Interest Rate Advance, by giving the Agent notice in writing, or by telephone promptly confirmed in writingwriting or by e-mail, given so as to be received by the Agent not later than: (a) 1:00 p.m.11:00 a.m., Minneapolis time, one on the day of the requested continuation or conversion, if the continuing or as-converted Advance shall be a Base Rate Advance; (b) 11:00 a.m., Minneapolis time, three Business day Days prior to the date of the requested continuation or conversion, if the continuing or as-converted Advance shall be a Base Rate Term SOFR Advance, EURIBOR Advance, or XXXXX Advance; or (bc) 12:00 noon11:00 a.m., Minneapolis time, three four Business days Days prior to the date of the requested continuation or conversion, if the continuing or as-converted Advance shall be a LIBOR an RFR Advance or an Other Interest Rate Advance. Each notice of continuation or conversion of an Advance shall specify (i) the effective date of the continuation or conversion date (which shall be a Business Day), (ii) the amount and the type or types of Advances following such continuation or conversion (subject to the limitation on amount set forth in Section 2.2), and (iii) for continuation as, or conversion into, LIBOR Advances, the Interest Periods Periods, if applicable, for such Advances. Absent timely notice of continuation or conversion, following expiration of an Interest Period unless the LIBOR a Term SOFR Advance, EURIBOR Advance, TIBOR Advance or applicable Other Interest Rate Advance is paid in full full, the Agent may at any time thereafter convert the LIBOR such Advance into a an Advance which shall bear interest at either (1) the Base Rate Advance. Until such time as such Rate, for an Advance is converted into a Base Rate Advance by in Dollars, or (2) the Agent or the Borrower or is continued as a LIBOR Advance with rate established for a new Interest Period by notice by of one month for an Advance in an Alternative Currency (and the applicable Borrower as provided above, such Advance shall continue to accrue interest at a rate equal to the interest rate applicable during the expired Interest Period adjusted, however, to reflect changes in the Applicable Margin. No Advance shall be continued as, or converted into, a LIBOR Advance if the shortest deemed to have selected such Interest Period for such Advance). Each RFR Advance and Base Rate Advance shall continue as an RFR Advance or Base Rate Advance (as the case may not transpire prior to the Termination Date or if a Default or Event be) until notice of Default conversion shall existbe given as provided above.

Continuation or Conversion of Loans. The Borrower Borrowers may elect to (i) continue any outstanding LIBOR Advance from one Interest Period into a subsequent Interest Period to begin on the last day of the earlier Interest Period, or (ii) convert any outstanding Advance into another type of Advance (Advance, on the last day of an Interest Period onlyonly for a Term SOFR Advance, in the instance of a LIBOR EURIBOR Advance), XXXXX Advance, or applicable Other Interest Rate Advance, by giving the Agent notice in writing, or by telephone promptly confirmed in writingwriting or by e-mail, given so as to be received by the Agent not later than: : (a) 1:00 p.m.11:00 a.m., Minneapolis time, one on the day of the requested continuation or conversion, if the continuing or as-converted Advance shall be a Base Rate Advance; (b) 11:00 a.m., Minneapolis time, three Business day Days prior to the date of the requested continuation or conversion, if the continuing or as-converted Advance shall be a Base Rate Term SOFR Advance, EURIBOR Advance, or TIBOR Advance; or or (bc) 12:00 noon11:00 a.m., Minneapolis time, three four Business days Days prior to the date of the requested continuation or conversion, if the continuing or as-converted Advance shall be a LIBOR an RFR Advance or an Other Interest Rate Advance. Each notice of continuation or conversion of an Advance shall specify (i) the effective date of the continuation or conversion date (which shall be a Business Day), (ii) the amount and the type or types of Advances following such continuation or conversion (subject to the limitation on amount set forth in Section 2.2), and (iii) for continuation as, or conversion into, LIBOR Advances, the Interest Periods Periods, if applicable, for such Advances. Absent timely notice of continuation or conversion, following expiration of an Interest Period unless the LIBOR a Term SOFR Advance, EURIBOR Advance, TIBOR Advance or applicable Other Interest Rate Advance is paid in full full, the Agent may at any time thereafter convert the LIBOR such Advance into a an Advance which shall bear interest at either (1) the Base Rate Advance. Until such time as such Rate, for an Advance is converted into a Base Rate Advance by in Dollars, or (2) the Agent or the Borrower or is continued as a LIBOR Advance with rate established for a new Interest Period by notice by of one month for an Advance in an Alternative Currency (and the applicable Borrower as provided above, such Advance shall continue to accrue interest at a rate equal to the interest rate applicable during the expired Interest Period adjusted, however, to reflect changes in the Applicable Margin. No Advance shall be continued as, or converted into, a LIBOR Advance if the shortest deemed to have selected such Interest Period for such Advance). Each RFR Advance and Base Rate Advance shall continue as an RFR Advance or Base Rate Advance (as the case may not transpire prior to the Termination Date or if a Default or Event be) until notice of Default conversion shall existbe given as provided above.

Continuation or Conversion of Loans. The Borrower may elect to (i) continue any outstanding LIBOR Eurodollar Advance from one Interest Period into a subsequent Interest Period to begin on the last day of the earlier Interest Period, or (ii) convert any outstanding Advance into another type of Advance (on the last day of an Interest Period only, in the instance of a LIBOR Eurodollar Advance), by giving the Agent notice in writing, or by telephone promptly confirmed in writing, given so as to be received by the Agent not later than: (a) 1:00 p.m.12:00 noon, Minneapolis time, one Business day Day prior to the date of the requested continuation or conversion, if the continuing or converted Advance shall be a Base Prime Rate Advance; or (b) 12:00 noon, Minneapolis time, three Business days prior to the date of the requested continuation or conversion, if the continuing or converted Advance shall be a LIBOR Eurodollar Advance. Each notice of continuation or conversion of an Advance shall specify (i) the effective date of the continuation or conversion date (which shall be a Business Day), (ii) the amount and the type or types of Advances following such continuation or conversion (subject to the limitation on amount set forth in Section SECTION 2.2), and (iii) for continuation as, or conversion into, LIBOR Eurodollar Advances, the Interest Periods for such Advances. Absent timely notice of continuation or conversion, following expiration of an Interest Period unless the LIBOR Eurodollar Advance is paid in full the Agent may at any time thereafter convert the LIBOR Eurodollar Advance into a Base Prime Rate Advance. Until such time as such Advance is converted into a Base Prime Rate Advance by the Agent or the Borrower or is continued as a LIBOR Eurodollar Advance with a new Interest Period by notice by the Borrower as provided above, such Advance shall continue to accrue interest at a rate equal to the interest rate applicable during the expired Interest Period adjusted, however, to reflect changes in the Applicable MarginPeriod. No Advance shall be continued as, or converted into, a LIBOR Eurodollar Advance if the shortest Interest Period for such Advance may not transpire prior to the Termination Date or if a Default or Event of Default shall exist.

Continuation or Conversion of Loans. The Borrower may elect to (i) continue any outstanding LIBOR Advance from one Interest Period into a subsequent Interest Period to begin on the last day of the earlier Interest Period, or (ii) convert any outstanding Advance into another type of Advance (on the last day of an Interest Period only, in the instance of a LIBOR Advance), by giving the Agent notice in writing, or by telephone promptly confirmed in writing, given so as to be received by the Agent not later than: (a) 1:00 p.m., Minneapolis time, one Business day Day prior to the date of the requested continuation or conversion, if the continuing or converted Advance shall be a Base Rate Advance; or (b) 12:00 noon, Minneapolis time, three Business days Days prior to the date of the requested continuation or conversion, if the continuing or converted Advance shall be a LIBOR Advance. Each notice of continuation or conversion of an Advance shall specify (i) the effective date of the continuation or conversion date (which shall be a Business Day), (ii) the amount and the type or types of Advances following such continuation or conversion (subject to the limitation on amount set forth in Section 2.2), and (iii) for continuation as, or conversion into, LIBOR Advances, the Interest Periods for such Advances. Absent timely notice of continuation or conversion, following expiration of an Interest Period unless the LIBOR Advance is paid in full the Agent may at any time thereafter convert the LIBOR Advance into a Base Rate Advance. Until such time as such Advance is converted into a Base Rate Advance by the Agent or the Borrower or is continued as a LIBOR Advance with a new Interest Period by notice by the Borrower as provided above, such Advance shall continue to accrue interest at a rate equal to the interest rate applicable during the expired Interest Period adjusted, however, to reflect changes in the Applicable Margin. No Advance shall be continued as, or converted into, a LIBOR Advance if the shortest Interest Period for such Advance may not transpire prior to the Termination Date or if a Default or Event of Default shall exist.

Continuation or Conversion of Loans. The Borrower may elect to (i) continue any outstanding LIBOR Eurodollar Advance from one Interest Period into a subsequent Interest Period to begin on the last day of the earlier Interest Period, or (ii) convert any outstanding Advance into another type of Advance (on the last day of an Interest Period only, in the instance of a LIBOR Eurodollar Advance), by giving the Agent notice in writingnotice, or which may be by telephone promptly confirmed in writingtelephone, given so as to be received by the Agent not later than: (a) 1:00 p.m., Minneapolis time, one Business day prior to on the date of the requested continuation or conversion, if the continuing or converted Advance shall be a Base Daily Rate Advance or a Reference Rate Advance; or (b) 12:00 noon10:00 a.m., Minneapolis time, three two Business days prior to the date of the requested continuation or conversion, if the continuing or converted Advance shall be a LIBOR Eurodollar Advance. Each notice of continuation or conversion of an Advance shall specify (i) the effective date of the continuation or conversion date (which shall be a Business Day), (ii) the amount and the type or types of Advances following such continuation or conversion (subject to the limitation on amount set forth in Section 2.2), and (iii) for continuation as, or conversion into, LIBOR Eurodollar Advances, the Interest Periods for such Advances. Absent timely notice of continuation or conversion, following expiration each Eurodollar Advance shall automatically convert into a Reference Rate Advance on the last day of an applicable Interest Period Period, unless the LIBOR Advance is paid in full the Agent may at any time thereafter convert the LIBOR Advance into a Base Rate Advance. Until on such time as such Advance is converted into a Base Rate Advance by the Agent or the Borrower or is continued as a LIBOR Advance with a new Interest Period by notice by the Borrower as provided above, such Advance shall continue to accrue interest at a rate equal to the interest rate applicable during the expired Interest Period adjusted, however, to reflect changes in the Applicable Marginlast day. No Advance shall be continued as, or converted into, a LIBOR Eurodollar Advance if the shortest Interest Period for such Advance may not transpire prior to the Termination Date or if a Default or Event of Default shall exist. Except during a suspension period described in Section 5.2 or 5.3, all conversions and continuations of Advances must be made uniformly and ratably among the Banks. (E.g., when continuing a two-month Eurodollar Rate Advance of one Bank to a three-month Eurodollar Rate Advance, the Borrower must simultaneously continue all two-month Eurodollar Rate Advances of all Banks having Interest Periods ending on the date of continuation as three-month Eurodollar Rate Advances.)

Continuation or Conversion of Loans. The Borrower may elect to (i) continue any outstanding LIBOR Eurodollar Advance from one Interest Period into a subsequent Interest Period to begin on the last day of the earlier Interest Period, or (ii) convert any outstanding Advance into another type of Advance (on the last day of an Interest Period only, in the instance of a LIBOR Eurodollar Advance), by giving the Agent notice in writing, or by telephone promptly confirmed in writing, given so as to be received by the Agent not later than: (a) 1:00 p.m., Minneapolis time, one Business day prior to the date of the requested continuation or conversion, if the continuing or converted Advance shall be a Base Rate Advance; or (b) 12:00 noon, Minneapolis time, three Business days prior to the date of the requested continuation or conversion, if the continuing or converted Advance shall be a LIBOR Eurodollar Advance. Each notice of continuation or conversion of an Advance shall specify (i) the effective date of the continuation or conversion date (which shall be a Business Day), (ii) the amount and the type or types of Advances following such continuation or conversion (subject to the limitation on amount set forth in Section 2.2), and (iii) for continuation as, or conversion into, LIBOR Eurodollar Advances, the Interest Periods for such Advances. Absent timely notice of continuation or conversion, following expiration of an Interest Period unless the LIBOR Eurodollar Advance is paid in full the Agent may at any time thereafter convert the LIBOR Eurodollar Advance into a Base Rate Advance. Until such time as such Advance is converted into a Base Rate Advance by the Agent or the Borrower or is continued as a LIBOR Eurodollar Advance with a new Interest Period by notice by the Borrower as provided above, such Advance shall continue to accrue interest at a rate equal to the interest rate applicable during the expired Interest Period adjusted, however, to reflect changes in the Applicable Margin. No Advance shall be continued as, or converted into, a LIBOR Eurodollar Advance if the shortest Interest Period for such Advance may not transpire prior to the Termination Date or if a Default or Event of Default shall exist.

Continuation or Conversion of Loans. The Borrower Borrowers may elect to (i) continue any outstanding LIBOR Advance from one Interest Period into a subsequent Interest Period to begin on the last day of the earlier Interest Period, or (ii) convert any outstanding Advance into another type of Advance (Advance, on the last day of an Interest Period only, in the instance of only for a Fixed LIBOR Advance), by giving the Agent notice in writing, or by telephone promptly confirmed in writingwriting or by e-mail, given so as to be received by the Agent not later than: (a) 1:00 2:00 p.m., Minneapolis time, one Business on the day prior to the date of the requested continuation or conversion, if the continuing or as-converted Advance shall be a Floating LIBOR Advance or a Base Rate Advance; or; (b) 12:00 noon11:00 a.m., Minneapolis time, three Business days prior to the date of the requested continuation or conversion, if the continuing or as-converted Advance shall be a Fixed LIBOR AdvanceAdvance in Dollars; or (c) 11:00 a.m., Minneapolis time, four Business days prior to the date of the requested continuation or conversion, if the continuing or as-converted Advance shall be a Fixed LIBOR Advance in Alternative Currencies. Each notice of continuation or conversion of an Advance shall specify (i) the effective date of the continuation or conversion date (which shall be a Business Day), (ii) the amount and the type or types of Advances following such continuation or conversion (subject to the limitation on amount set forth in Section 2.2), and (iii) for continuation as, or conversion into, LIBOR Advances, the Interest Periods for such Advances. Absent timely notice of continuation or conversion, following expiration of an Interest Period unless the a Fixed LIBOR Advance is paid in full full, the Agent may at any time thereafter convert the such Fixed LIBOR Advance into an Advance which shall bear interest at either (1) the Base Rate, for an Advance in Dollars, or (2) the rate established for a Base Rate new Interest Period of 30 days for an Advance in an Alternative Currency (and the Borrowers shall be deemed to have selected such Interest Period for such Advance). Until At the option of the Agent, until such time as such Advance is so converted into a Base Rate Advance by the Agent or the Borrower Borrowers or is continued as a Fixed LIBOR Advance with a new Interest Period by notice by the Borrower Borrowers as provided above, such Fixed LIBOR Advance shall continue to accrue interest at a rate equal to the interest rate applicable during the expired Interest Period adjustedPeriod. Each Floating LIBOR Advance and Base Rate Advance shall continue as a Floating LIBOR Advance or Base Rate Advance (as the case may be) until notice of conversion shall be given as provided above. At the option of the Agent, however, to reflect changes no Revolving Loan in the Applicable Margin. No Advance Dollars shall be continued as, or converted into, a Fixed LIBOR Advance if the shortest Interest Period for such Advance may not transpire prior to the Termination Date or if a Default or Event of Default shall exist.

Continuation or Conversion of Loans. The Borrower may elect to (i) continue any outstanding LIBOR Advance from one Interest Period into a subsequent Interest Period to begin on the last day of the earlier Interest Period, or (ii) convert any outstanding Advance into another type of Advance (on the last day of an Interest Period only, in the instance of a LIBOR Advance), by giving the Agent notice in writing, or by telephone promptly confirmed in writing, given so as to be received by the Agent not later than: (a) 1:00 p.m., Minneapolis time, one Business day prior to on the date of the requested continuation or conversion, if the continuing or converted Advance shall be a Base Rate Advance; or (b) 12:00 noon, Minneapolis time, three Business days prior to the date of the requested continuation or conversion, if the continuing or converted Advance shall be a LIBOR Advance. Each notice of continuation or conversion of an Advance shall specify (i) the effective date of the continuation or conversion date (which shall be a Business Day), (ii) the amount and the type or types of Advances following such continuation or conversion (subject to the limitation on amount set forth in Section 2.2), and (iii) for continuation as, or conversion into, LIBOR Advances, the Interest Periods for such Advances. Absent timely notice of continuation or conversion, following expiration of an Interest Period unless the LIBOR Advance is paid in full full, the Agent may at any time thereafter convert the LIBOR Advance into a Base Rate Advance. Until such time as such Advance is converted into a Base Rate Advance by the Agent or the Borrower or is continued as a LIBOR Advance with a new Interest Period by notice by the Borrower as provided above, such Advance shall continue to accrue interest at a rate equal to the interest rate applicable during the expired Interest Period adjusted, however, to reflect changes in the Applicable Margin. No Advance shall be continued as, or converted into, a LIBOR Advance if the shortest Interest Period for such Advance may not transpire prior to the Termination Date or if a Default or Event of Default shall existexist and the Agent has given notice to the Borrower that no such continuations or conversions may be made.

Continuation or Conversion of Loans. The Borrower Borrowers may elect to (i) continue any outstanding LIBOR Advance from one Interest Period into a subsequent Interest Period to begin on the last day of the earlier Interest Period, or (ii) convert any outstanding Advance into another type of Advance (Advance, on the last day of an Interest Period onlyonly for a Term SOFR Advance, in the instance of a LIBOR EURIBOR Advance), XXXXX Advance, or applicable Other Interest Rate Advance, by giving the Agent notice in writing, or by telephone promptly confirmed in writingwriting or by e-mail, given so as to be received by the Agent not later than: : (a) 1:00 p.m.11:00 a.m., Minneapolis time, one on the day of the requested continuation or conversion, if the continuing or as-converted Advance shall be a Base Rate Advance; (b) 11:00 a.m., Minneapolis time, three Business day Days prior to the date of the requested continuation or conversion, if the continuing or as-converted Advance shall be a Base Rate Term SOFR Advance, EURIBOR Advance, or XXXXX Advance; or or (bc) 12:00 noon11:00 a.m., Minneapolis time, three four Business days Days prior to the date of the requested continuation or conversion, if the continuing or as-converted Advance shall be a LIBOR an RFR Advance or an Other Interest Rate Advance. Each notice of continuation or conversion of an Advance shall specify (i) the effective date of the continuation or conversion date (which shall be a Business Day), (ii) the amount and the type or types of Advances following such continuation or conversion (subject to the limitation on amount set forth in Section 2.2), and (iii) for continuation as, or conversion into, LIBOR Advances, the Interest Periods Periods, if applicable, for such Advances. Absent timely notice of continuation or conversion, following expiration of an Interest Period unless the LIBOR a Term SOFR Advance, EURIBOR Advance, TIBOR Advance or applicable Other Interest Rate Advance is paid in full full, the Agent may at any time thereafter convert the LIBOR such Advance into a an Advance which shall bear interest at either (1) the Base Rate Advance. Until such time as such Rate, for an Advance is converted into a Base Rate Advance by in Dollars, or (2) the Agent or the Borrower or is continued as a LIBOR Advance with rate established for a new Interest Period by notice by of one month for an Advance in an Alternative Currency (and the applicable Borrower as provided above, such Advance shall continue to accrue interest at a rate equal to the interest rate applicable during the expired Interest Period adjusted, however, to reflect changes in the Applicable Margin. No Advance shall be continued as, or converted into, a LIBOR Advance if the shortest deemed to have selected such Interest Period for such Advance). Each RFR Advance and Base Rate Advance shall continue as an RFR Advance or Base Rate Advance (as the case may not transpire prior to the Termination Date or if a Default or Event be) until notice of Default conversion shall existbe given as provided above.

Continuation or Conversion of Loans. The Borrower may elect to (i) continue any outstanding LIBOR CD Rate Advance or Eurodollar Advance from one Interest Period into a subsequent Interest Period to begin on the last day of the earlier Interest Period, or (ii) convert any outstanding Advance into another type of Advance (on the last day of an Interest Period only, in the instance of a LIBOR CD Rate Advance or Eurodollar Advance), by giving the Agent notice in writing, writing or by telephone promptly confirmed in writingor by telecopy, given so as to be received by the Agent not later than: (a) 1:00 12:01 p.m., Minneapolis time, one Business day prior to on the date of the requested continuation or conversion, if the continuing or converted Advance shall be a Base CD Rate Advance or Reference Rate Advance; or (b) 12:00 noon12:01 p.m., Minneapolis time, three two Business days prior to the date of the requested continuation or conversion, if the continuing or converted Advance shall be a LIBOR Eurodollar Advance. Each notice of continuation or conversion of an Advance shall specify (i) the effective date of the continuation or conversion date (which shall be a Business Day), (ii) the amount and the type or types of Advances following such continuation or conversion (subject to the limitation on amount set forth in Section SECTION 2.2), and (iii) for continuation as, or conversion into, LIBOR CD Rate Advances or Eurodollar Advances, the Interest Periods for such Advances. Absent timely notice of continuation or conversion, following expiration each CD Rate Advance and Eurodollar Advance shall automatically convert into a Reference Rate Advance on the last day of an applicable Interest Period Period, unless the LIBOR Advance is paid in full the Agent may at any time thereafter convert the LIBOR Advance into a Base Rate Advance. Until on such time as such Advance is converted into a Base Rate Advance by the Agent or the Borrower or is continued as a LIBOR Advance with a new Interest Period by notice by the Borrower as provided above, such Advance shall continue to accrue interest at a rate equal to the interest rate applicable during the expired Interest Period adjusted, however, to reflect changes in the Applicable Marginlast day. No Advance shall be continued as, or converted into, a LIBOR CD Rate Advance or Eurodollar Advance if the shortest Interest Period for such Advance may not transpire prior to the Termination Date or if a Default or Event of Default shall exist.

Continuation or Conversion of Loans. The Borrower may elect to (ia) continue any outstanding LIBOR Advance from one Interest Period into a subsequent Interest Period to begin on the last day of the earlier Interest Period, or (iib) convert any outstanding Advance into another type of Advance (on the last day of an Interest Period only, in the instance of a LIBOR Advance), by giving the Agent irrevocable notice in writing, or by telephone promptly confirmed in writing, given so as to be received by the Agent not later than: (a) 1:00 p.m., Minneapolis time, one p.m. on the Business day Day prior to the date of the requested continuation or conversion, if the continuing or converted Advance shall is to be a Base Rate Advance; or (b) 12:00 noon, Minneapolis time, noon at least three Business days Days prior to the date of the requested continuation or conversion, if the continuing or converted Advance shall is to be a LIBOR Advance. Each notice of continuation or conversion of an Advance shall specify (i) the effective date of the continuation or conversion date (which shall be a Business Day), (ii) the amount and the type or types of Advances following such continuation or conversion (subject to the limitation on amount set forth in Section 2.2), and (iii) for continuation as, or conversion into, a LIBOR AdvancesAdvance, the Interest Periods Period for such AdvancesAdvance. Absent timely notice of continuation or conversionof a LIBOR Advance, following expiration of an Interest Period unless the such LIBOR Advance is paid shall (unless repaid in full the Agent may at any time thereafter full) convert the LIBOR Advance into a Base Rate Advance. Until such time as such Advance is converted into a Base Rate Advance by on the Agent or last day of the Borrower or is continued as a LIBOR Advance with a new Interest Period by notice by the Borrower as provided above, such Advance shall continue to accrue interest at a rate equal to the interest rate applicable during the expired Interest Period adjusted, however, to reflect changes in the Applicable Margintherefor. No Advance shall be continued as, or converted into, a LIBOR Advance if the shortest Interest Period for such Advance may not transpire prior to the Termination Date or if a Default or Event of Default shall existexists.