Common use of Continuations and Conversions Clause in Contracts

Continuations and Conversions. Subject to the terms below, the Borrower shall have the option, on any Business Day prior to the Maturity Date, to continue existing LIBOR Loans for a subsequent Interest Period, to convert Base Rate Loans into LIBOR Loans or to convert LIBOR Loans into Base Rate Loans. By no later than 9:00 a.m. (a) one Business Day prior to the date of the requested conversion of a LIBOR Loan to a Base Rate Loan and (b) three Business Days prior to the date of the requested continuation of a LIBOR Loan or conversion of a Base Rate Loan to a LIBOR Loan, the Borrower shall provide telephonic notice to the Administrative Agent, followed promptly by a written Notice of Continuation/Conversion in the form of Exhibit 2.1(e), setting forth whether the Borrower wishes to continue or convert such Loans and the Interest Period applicable thereto. Notwithstanding anything herein to the contrary, (i) except as provided in Section 3.11, LIBOR Loans may only be continued or converted into Base Rate Loans on the last day of the Interest Period applicable thereto, (ii) LIBOR Loans may not be continued nor may Base Rate Loans be converted into LIBOR Loans during the existence and continuation of a Default or an Event of Default and (iii) any request to continue a LIBOR Loan that fails to comply with the terms hereof or any failure to request a continuation of a LIBOR Loan at the end of an Interest Period shall be deemed a request to convert such LIBOR Loan to a Base Rate Loan on the last day of the applicable Interest Period.

Continuations and Conversions. (a) Subject to the terms below, the Borrower shall have the option, on any Business Day prior to the Maturity Revolving Credit Termination Date, to continue existing LIBOR Loans for a subsequent Interest Period, to convert Convert Base Rate Loans into LIBOR Loans Loans, or to convert Convert LIBOR Loans into Base Rate Loans. By no later than 9:00 10:00 a.m. (ai) one Business Day prior to on the date of the requested conversion Conversion of a LIBOR Loan to a Base Rate Loan and (bii) three (3) Business Days prior to the date of the requested continuation Continuation of a LIBOR Loan or conversion Conversion of a Base Rate Loan to a LIBOR Loan, the Borrower shall provide telephonic notice to the Administrative Agent, followed promptly by a written Notice of Continuation/Conversion in the form of Exhibit 2.1(e), Request setting forth out whether the Borrower wishes to continue Continue or convert Convert such Loans and the Interest Period applicable thereto. Loans. (b) Notwithstanding anything herein in this Agreement to the contrary, (i) except as provided in Section 3.11Sections 4.3 and 4.4, LIBOR Loans may only be continued Continued or converted Converted into Base Rate Loans on the last day of the Interest Period applicable thereto, (ii) LIBOR Loans may not be continued Continued, nor may Base Rate Loans be converted Converted into LIBOR Loans Loans, during the existence and continuation of a Default or an Event of Default Default, and (iii) any request to continue Continue a LIBOR Loan that fails to comply with the terms hereof or any failure to request a continuation Continuation of a LIBOR Loan at the end of an Interest Period shall be deemed a request to convert Convert such LIBOR Loan to a Base Rate Loan on the last day of the applicable Interest Period.

Continuations and Conversions. Subject to the terms below, the Borrower shall have the option, on any Business Day prior to the Maturity DateDay, to continue existing LIBOR Term Benchmark Loans for a subsequent Interest Period, to convert Base Rate Loans into LIBOR Term Benchmark Loans denominated in Dollars or to convert LIBOR Term Benchmark Loans denominated in Dollars into Base Rate Loans. By no later than 9:00 a.m. 11:00 a.m., New York City Time, (a) one Business Day prior to on the date of the requested conversion of a LIBOR Term Benchmark Loan denominated in Dollars to a Base Rate Loan and or (b) three U.S. Government Securities Business Days prior to the date of the requested continuation of a Term Benchmark Loan denominated in Dollars or conversion of a Base Rate Loan to a Term Benchmark Loan denominated in Dollars or (c) three Business Days prior to the date of the requested continuation of a LIBOR Term Benchmark Loan or conversion of a Base Rate Loan to a LIBOR Loandenominated in Euros, the Borrower shall provide telephonic notice to the Administrative Agent, followed promptly by a written Notice of Continuation/Conversion Conversion, in the form of Exhibit 2.1(e)2.4, submitted by hand delivery, fax or email, to the Administrative Agent (or, in the case of a continuation or conversion of Loans denominated in Dollars to Loans denominated in Dollars, telephonic notice, confirmed promptly by hand delivery, fax or email to the Administrative Agent of a written Notice of Continuation/Conversion, in the form of Exhibit 2.4) setting forth (i) whether the Borrower wishes to continue or convert such Loans and (ii) if the request is to continue a Term Benchmark Loan or convert a Base Rate Loan to a Term Benchmark Loan, the Interest Period applicable thereto. Notwithstanding anything herein to the contrary, (iA) except as provided in Section 3.11, LIBOR Term Benchmark Loans may only be continued or converted into Base Rate Loans on the last day of the Interest Period applicable thereto, (iiB) LIBOR Term Benchmark Loans may not be continued nor may Base Rate Loans be converted into LIBOR Term Benchmark Loans during the existence and continuation of a Default or an Event of Default and Default, (iiiC) any request to continue a LIBOR Term Benchmark Loan that fails to comply with the terms hereof or any failure to request a continuation of a LIBOR Term Benchmark Loan at the end of an Interest Period shall be deemed constitute a request to convert such LIBOR Loan conversion to a Base Rate Loan on the last day of the applicable Interest Period; provided, however, that in the case of a failure to timely request a continuation of Term Benchmark Loans denominated in an Alternative Currency or if any such request fails to comply with the terms hereof, such Loans shall be continued as Term Benchmark Loans in their original currency with an Interest Period of one month, and (D) any failure to state the Interest Period with respect to the continuation of a Term Benchmark Loan or the conversion of a Base Rate Loan to a Term Benchmark Loan shall constitute a request for a one month Interest Period. No Revolving Loans may be converted into or continued as Revolving Loans denominated in a different currency, but instead must be prepaid in the original currency of such Revolving Loans and reborrowed in the other currency. It is understood and agreed that Swing Line Loans may not be continued or converted.

Continuations and Conversions. (a) Subject to the terms below, the Borrower shall have the option, on any Business Day prior to the Maturity Date, Date to continue existing LIBOR Loans for a subsequent Interest Period, to convert Convert Base Rate Loans into LIBOR Loans Loans, or to convert Convert LIBOR Loans into Base Rate Loans, in any case under such applicable Facility. By no later than 9:00 11:00 a.m. New York City time (ai) one on the Business Day prior to the date of the requested conversion Conversion of a LIBOR Loan to a Base Rate Loan and (bii) three (3) Business Days prior to the date of the requested continuation Continuation of a LIBOR Loan or conversion Conversion of a Base Rate Loan to a LIBOR Loan, the Borrower shall provide telephonic notice to the Administrative Agent, followed promptly by a written Notice of Continuation/Conversion in the form Request setting out whether Borrower elects to Continue or Convert such applicable Loans, and Administrative Agent shall promptly notify each Lender of Exhibit 2.1(e), setting forth whether the Borrower wishes to continue or convert such Loans and the Interest Period applicable thereto. Continuation/Conversion Request. (b) Notwithstanding anything herein in this Agreement to the contrary, (i) except as provided in Section 3.11Sections 4.3, 4.4 and 4.5, LIBOR Loans may only be continued Continued or converted Converted into Base Rate Loans on the last day of the Interest Period applicable thereto, (ii) LIBOR Loans may not be continued Continued, nor may Base Rate Loans be converted Converted into LIBOR Loans Loans, during the existence and continuation of a Default or an Event of Default Default, and (iii) any request to continue Continue a LIBOR Loan that fails to comply with the terms hereof or any failure to request a continuation Continuation of a LIBOR Loan at the end of an Interest Period shall be deemed a request to convert Convert such LIBOR Loan to a Base Rate Loan on the last day of the applicable Interest Period.