Continuations; Conversions Sample Clauses

Continuations; Conversions. In order to elect to Continue or convert a Loan under this Section, the Borrower shall deliver an irrevocable Notice of Continuation/Conversion to the Administrative Agent at its Applicable Lending Office no later than 12:00 p.m. Noon (New York time) (i) at least three Business Days in advance of the requested date of any conversion to or continuation of Eurodollar Loans or of any conversion of Eurodollar Loans to ABR Loans and (ii) at least one Business Day in advance of the requested date of any ABR Loan. Each such Notice of Continuation/Conversion shall be in writing or by telex, telecopier or telephone, confirmed promptly in writing specifying (A) the requested Continuation or conversion date (which shall be a Business Day), (B) the amount of the Loans to be Continued or converted, and (C) with respect to any Eurodollar Loans, the requested Interest Period to apply thereto. Promptly after receipt of a Notice of Continuation/Conversion under this paragraph, the Administrative Agent shall provide each applicable Lender with a copy thereof and notify each applicable Lender of the interest rate under Sections 2.05(a)(i) or (ii).
Sample 1
AutoNDA by SimpleDocs
Continuations; Conversions. In order to elect to Continue or convert a Loan under this Section, the Borrower shall deliver an irrevocable Notice of Continuation/Conversion to the Administrative Agent at its Applicable Lending Office no later than 12:00 p.m. Noon (New York time)
Sample 1Sample 2
Continuations; Conversions. Borrower may (a) on the last day of the applicable Interest Period Convert all or part of a Eurodollar Borrowing to a Base Rate Borrowing, (b) at any time Convert all or part of a Base Rate Borrowing to a Eurodollar Borrowing, and (c) on the last day of an Interest Period, Continue a Eurodollar Borrowing for a new Interest Period. Any such Conversion or Continuation is subject to the dollar limits and denominations of Section 2.1 and may be accomplished by delivering a Borrowing Request to Agent no later than 11:00 a.m. (i) on the third (3rd) Business Day before (A) the Conversion date for Conversion to a Eurodollar Borrowing, and (B) the last day of the Interest Period, for the Continuation to a new Interest Period, and (ii) one (1) Business Day before the last day of the Interest Period for Conversion to a Base Rate Borrowing. Absent a Borrowing Notice, a Eurodollar Borrowing shall be Continued as a Eurodollar Borrowing having a one (1) month Interest Period (so long as the last day of such Interest Period does not extend beyond the Maturity Date in which case such Eurodollar Borrowing shall be Converted to a Base Rate Borrowing) when the applicable Interest Period expires.
Sample 1
Continuations; Conversions. Borrowers may (a) on the last day of the applicable Interest Period Convert all or part of a Eurodollar Borrowing to a Base Rate Borrowing, (b) at any time Convert all or part of a Base Rate Borrowing to a Eurodollar Borrowing, and (c) on the last day of an Interest Period, Continue a Eurodollar Borrowing for a new Interest Period. Any such Conversion or Continuation is subject to the dollar limits and denominations of SECTION 2.1 and may be accomplished by delivering a Borrowing Request to Agents no later than 11:00 a.m. (i) on the third (3rd) Business Day before (A) the Conversion date for Conversion to a Eurodollar Borrowing, and (B) the last day of the Interest Period, for the Continuation to a new Interest Period, and (ii) one (1) Business Day before the last day of the Interest Period for Conversion to a Base Rate Borrowing. Absent a Borrowing Notice, a Eurodollar Borrowing shall be Continued as a Eurodollar Borrowing having a one (1) month Interest Period (so long as no Default exists and/or the last day of such Interest Period does not extend beyond the Maturity Date, in either such case such Eurodollar Borrowing shall be Converted to a Base Rate Borrowing) when the applicable Interest Period expires.
Sample 1
Continuations; Conversions. LIBOR Loans may be continued as LIBOR Loans at the end of the applicable Interest Period and Alternate Base Rate Loans may be Converted to LIBOR Loans, subject to the following conditions: on the last day of the applicable Interest Period or, as the case may be, the date of Conversion (i) no event or condition shall have occurred which could reasonably be expected to have a Material Adverse Effect; (ii) no Default or Event of Default shall exist; (iii) the representations and warranties made in this Agreement and the other Loan Documents shall be deemed made by each Obligor to the Agent and the Lenders as of such date (unless made only as of a specific date) and the same shall be true and correct; and (iv) Borrower shall have submitted the applicable notice required by Section 2.2(c).
Sample 1
Continuations; Conversions. Borrowers may (a) on the last day of the applicable Interest Period Convert all or part of a LIBOR Borrowing to a Base Rate Borrowing, (b) at any time Convert all or part of a Base Rate Borrowing to a LIBOR Borrowing, and (c) on the last day of an Interest Period, Continue a LIBOR Borrowing for a new Interest Period. Any such Conversion or Continuation is subject to the dollar limits and denominations of Section 2.1 and may be accomplished by delivering a Borrowing Request to Administrative Agent no later than 11:00 a.m. San Francisco time on the third (3rd) Business Day before (i) the Conversion date for Conversion to a LIBOR Borrowing, (ii) the last day of the Interest Period, for the Continuation to a new Interest Period, and (iii) the last day of the Interest Period for Conversion to a Base Rate Borrowing. Absent such a Borrowing Notice, a LIBOR Borrowing shall be Continued as a LIBOR Borrowing having a one (1) month Interest Period (so long as no Default exists and/or the last day of such Interest Period does not extend beyond the Maturity Date, in either such case such LIBOR Borrowing shall be Converted to a Base Rate Borrowing) when the applicable Interest Period expires.
Sample 1
Continuations; Conversions 
Sample 1Sample 2Sample 3See All (6)
AutoNDA by SimpleDocs

Related to Continuations; Conversions

  • Conversions and Continuations (a) Subject to the penultimate sentence of this clause (a), (x) the Borrower shall have the option on any Business Day to convert all or a portion equal to at least $5,000,000 (or the Dollar Equivalent thereof) of the outstanding principal amount of Term Loans or Revolving Credit Loans denominated in Dollars of one Type into a Borrowing or Borrowings of another Type and (y) the Borrower shall have the option on any Business Day to continue the outstanding principal amount of any LIBOR Loans as LIBOR Loans for an additional Interest Period, provided that (i) no partial conversion of LIBOR Loans shall reduce the outstanding principal amount of LIBOR Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) ABR Loans may not be converted into LIBOR Loans if a Default or Event of Default is in existence on the date of the conversion and the Administrative Agent has or the Required Lenders have determined in its or their sole discretion not to permit such conversion, (iii) LIBOR Loans may not be continued as LIBOR Loans for an additional Interest Period if a Default or Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has or the Required Lenders have determined in its or their sole discretion not to permit such continuation, (iv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.2 and (v) Euro Tranche Term Loans and Revolving Credit Loans denominated in any Alternative Currency may not be converted to ABR Loans. Each such conversion or continuation shall be effected by the Borrower by giving the Administrative Agent at the Administrative Agent’s Office prior to 1:00 p.m. (New York City time) at least (i) three Business Days’ notice, in the case of a continuation of or conversion to LIBOR Loans (other than in the case of a notice delivered on the Original Closing Date pursuant to clause (d), which shall be deemed to be effective on the Original Closing Date) or (ii) one Business Day’s notice in the case of a conversion into ABR Loans prior written notice (or telephonic notice promptly confirmed in writing) (each, a “Notice of Conversion or Continuation”) specifying the Loans to be so converted or continued, the Type of Loans to be converted or continued into and, if such Loans are to be converted into or continued as LIBOR Loans, the Interest Period to be initially applicable thereto. The Administrative Agent shall give each applicable Lender notice as promptly as practicable of any such proposed conversion or continuation affecting any of its Loans.

  • Borrowings, Conversions and Continuations of Loans (a) Each Borrowing, each conversion of Loans from one Type to the other, and each continuation of Eurodollar Rate Loans shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given by telephone. Each such notice must be received by the Administrative Agent not later than 11:00 a.m. (i) three Business Days prior to the requested date of any Borrowing of, conversion to or continuation of, Eurodollar Rate Loans or of any conversion of Eurodollar Rate Loans to Base Rate Loans, and (ii) on the requested date of any Borrowing of Base Rate Loans. Each telephonic notice by the Borrower pursuant to this Section 2.02(a) must be confirmed promptly by delivery to the Administrative Agent of a written Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Each Borrowing of, conversion to or continuation of Eurodollar Rate Loans shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof. Except as provided in Sections 2.03(c) and 2.04(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof. Each Loan Notice (whether telephonic or written) shall specify (i) whether the Borrower is requesting a Borrowing, a conversion of Loans from one Type to the other, or a continuation of Eurodollar Rate Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be borrowed or to which existing Loans are to be converted, and (v) if applicable, the duration of the Interest Period with respect thereto. If the Borrower fails to specify a Type of a Loan in a Loan Notice or if the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Loans shall be made as, or converted to, Base Rate Loans. Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurodollar Rate Loans. If the Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar Rate Loans in any Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. Notwithstanding anything to the contrary herein, a Swing Line Loan may not be converted to a Eurodollar Rate Loan.

  • Conversions The Borrower shall have the option to convert, on any Business Day beginning three Business Days following the Initial Borrowing Date, all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Loans (other than Swingline Loans which may not be converted pursuant to this Section 2.06) made pursuant to one or more Borrowings of one or more Types of Loans into a Borrowing of another Type of Loan, provided that, (i) except as otherwise provided in Section 2.10(b), Eurodollar Loans may be converted into Base Rate Loans only on the last day of an Interest Period applicable to the Loans being converted and no such partial conversion of Eurodollar Loans shall reduce the outstanding principal amount of such Eurodollar Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount applicable thereto, (ii) unless the Required Lenders otherwise agree, Base Rate Loans may only be converted into Eurodollar Loans if no Default or Event of Default is in existence on the date of the conversion, and (iii) no conversion pursuant to this Section 2.06 shall result in a greater number of Borrowings of Eurodollar Loans than is permitted under Section 2.02. Each such conversion shall be effected by the Borrower by giving the Administrative Agent at the Notice Office prior to 2:00 P.M. (New York City time) at least (x) in the case of conversions of Base Rate Loans into Eurodollar Loans, three Business Days’ prior notice and (y) in the case of conversions of Eurodollar Loans into Base Rate Loans, one Business Day’s prior notice (each, a “Notice of Conversion/Continuation”), in each case in the form of Exhibit A-2, appropriately completed to specify the Loans to be so converted, the Borrowing or Borrowings pursuant to which such Loans were incurred and, if to be converted into Euro Rate Loans, the Interest Period to be initially applicable thereto. The Administrative Agent shall give each Lender prompt notice of any such proposed conversion affecting any of its Loans.

Time is Money Join Law Insider Premium to draft better contracts faster.