Conversion and Continuation Elections for Borrowings Sample Clauses
Conversion and Continuation Elections for Borrowings. (a) The Company may, upon irrevocable written notice to the Administrative Agent in accordance with subsection 2.04(b):
(i) elect, as of any Business Day, in the case of Base Rate Loans, or as of the last day of the applicable Interest Period, in the case of any Offshore Rate Loans denominated in Dollars, to convert any such Loans (or any part thereof in an amount not less than the Minimum Tranche) into Loans in Dollars of the Type; or
(ii) elect, as of the last day of the applicable Interest Period, to continue any Loans having Interest Periods expiring on such day (or any part thereof in an amount not less than the Minimum Tranche); provided that if at any time the aggregate Dollar Equivalent amount of Offshore Currency Loans in respect of any Borrowing is reduced, by payment, prepayment, or conversion of part thereof to be less than $5,000,000, such Offshore Currency Loans shall automatically convert into Base Rate Loans, and on and after such date the right of the Company to continue such Loans as, and convert such Loans into, Offshore Currency Loans shall terminate.
(b) The Company shall deliver a Notice of Conversion/Continuation to be received by the Administrative Agent not later than (i) 11:30 a.m. (Chicago time) at least three Business Days in advance of the Conversion/Continuation Date, if the Loans are to be converted into or continued as Offshore Rate Loans denominated in Dollars; (ii) 10:30 a.m. (Chicago time) at least four Business Days in advance of the continuation date, if the Loans are to be continued as Offshore Currency Loans; and (iii) 10:30 a.m. (Chicago time) on the Conversion/Continuation Date, if the Loans are to be converted into Base Rate Loans, specifying:
(A) the proposed Conversion/Continuation Date;
(B) the aggregate amount of Loans to be converted or continued;
(C) the Type of Loans resulting from the proposed conversion or continuation; and
(D) other than in the case of conversions into Base Rate Loans, the duration of the requested Interest Period.
(c) If upon the expiration of any Interest Period applicable to Offshore Rate Loans in Dollars, the Company has failed to timely select a new Interest Period to be applicable to such Offshore Rate Loans or if any Default or Event of Default then exists, unless, in either case, the Company has elected to and does repay such Loans on or prior to the expiration date of such Interest Period, the Company shall be deemed to have elected to convert such Offshore Rate Loans into Base R...
Conversion and Continuation Elections for Borrowings. (a) The Company may, upon irrevocable written notice to the Agent in accordance with subsection 2.04(b):
(i) elect, as of any Business Day, in the case of Base Rate Loans, or as of the last day of the applicable Interest Period, in the case of Offshore Rate Loans, to convert any such Loans (or any part thereof in an amount not less than $5,000,000 (or, prior to the Increased Borrowing Date, $3,000,000) or that is in an integral multiple of $1,000,000 in excess thereof) into Loans of any other Type; or
(ii) elect, as of the last day of the applicable Interest Period, to continue any Loans having Interest Periods expiring on such day (or any part thereof in an amount not less than $5,000,000 (or, prior to the Increased Borrowing Date, $3,000,000), or that is in an integral multiple of $1,000,000 in excess thereof); provided, that if at any time the aggregate amount of Offshore Rate Loans in respect of any Borrowing is reduced, by payment, prepayment, or conversion of part thereof to be less than $5,000,000 (or, prior to the Increased Borrowing Date, $3,000,000) such Offshore Rate Loans shall automatically convert into Base Rate Loans, and on and after such date the right of the Company to continue such Loans as, and convert such Loans into, Offshore Rate Loans shall terminate.
(b) The Company shall deliver a Notice of Conversion/Continuation to be received by the Agent not later than 11:00 a.m. Chicago time) at least (i) three (3) Business Days in advance of the Conversion/Continuation Date, if the Loans are to be converted into or continued as Offshore Rate Loans; and (ii) one (1) Business Day in advance of the Conversion/Continuation Date, if the Loans are to be converted into Base Rate Loans, specifying:
(A) the proposed Conversion/Continuation Date;
(B) the aggregate amount of Loans to be converted or continued;
(C) the Type of Loans resulting from the proposed conversion or continuation; and
(D) in the case of conversions into Offshore Rate Loans, the duration of the requested Interest Period.
(c) If upon the expiration of any Interest Period applicable to Offshore Rate Loans, the Company has failed to select timely a new Interest Period to be applicable to such Offshore Rate Loans, or if any Default or Event of Default then exists, the Company shall be deemed to have elected to convert such Offshore Rate Loans into Base Rate Loans effective as of the expiration date of such Interest Period.
(d) The Agent will promptly notify each Bank of its receipt of...
Conversion and Continuation Elections for Borrowings. (a) The Borrower may, upon irrevocable telephonic notice (such notice to be immediately confirmed in writing), to the Agent in accordance with Section 2.4(b) elect, as of any Business Day, in the case of Prime Rate Loans, or as of the last day of the applicable Interest Period, in the case of LIBOR Loans, to convert any such Loans (or any part thereof in an amount not less than $1,000,000, or that is in an integral multiple of $500,000 in excess thereof); provided, however, that if at any time the aggregate amount of LIBOR Loans in respect of any Borrowing is reduced, by payment, prepayment, or conversion of part thereof to be less than $1,000,000, such LIBOR Loans shall automatically convert into Prime Rate Loans, and on and after such date the right of the Borrower to continue such Loans as, and convert such Loans into, LIBOR Loans shall terminate.
(b) The Borrower shall deliver a Notice of Conversion/Continuation to be received by the Agent not later than 9:00 a.m. (Los Angeles time) at least (i) three (3) Business Days in advance of the Conversion/Continuation Date, if the Loans are to be converted into or continued as LIBOR Loans; and (ii) one (1) Business Day in advance of the Conversion/Continuation Date, if the Loans are to be converted into Prime Rate Loans, specifying:
(A) the proposed Conversion/Continuation Date;
(B) the aggregate amount of Loans to be converted or continued;
(C) the Type of Loans resulting from the proposed conversion or continuation; and
(D) other than in the case of conversions into Prime Rate Loans, the duration of the requested Interest Period.
(c) If upon the expiration of any Interest Period applicable to LIBOR Loans, the Borrower has failed to select timely a new Interest Period to be applicable to such LIBOR Loans, or if any Default or Event of Default then exists, the Borrower shall be deemed to have elected to convert such LIBOR Loans into Prime Rate Loans effective as of the expiration date of such Interest Period.
(d) The Agent will promptly notify each Bank of its receipt of a Notice of Conversion/Continuation, or, if no timely notice is provided by the Borrower, the Agent will promptly notify each Bank and the Borrower of the details of any automatic conversion. All conversions and continuation shall be made ratably according to the respective outstanding principal amounts of the Loans with respect to which the notice was given held by each Bank.
(e) Unless the Majority Banks otherwise agree, during the existence...
Conversion and Continuation Elections for Borrowings. (a) The Company way upon notice to the Documentation Agent in accordance with Section 2.04(b):
(i) elect to convert, as of any Business Day, any Reference Rate Loans (or any part thereof in an aggregate amount not less than Ten Million Dollars ($10,000,000), or that is in an integral multiple of Five Million Dollars ($5,000,000) in excess thereof) into LIBOR Loans or CD Rate Loans; or
(ii) elect to convert, as of the last day of any Interest Period, any LIBOR Loans maturing on such day (or any part thereof in an aggregate amount not less than Ten Million Dollars ($10,000,000), or that is in an integral multiple of Five Million Dollars ($5,000,000) in excess thereof) into Reference Rate Loans or CD Rate Loans; or
(iii) elect to convert, as of the last day of any Interest Period, any CD Rate Loans maturing on such day (or any part thereof in an aggregate amount not less than Ten Million Dollars ($10,000,000), or that is in an integral multiple of Five Million Dollars ($5,000,000) in excess thereof) into Reference Rate Loans or LIBOR Loans; or
(iv) elect to continue as of the last day of any Interest Period (a "Continuation Date") any LIBOR Loans or CD Rate Loans maturing on such day (or any part thereof in an aggregate amount not less than Ten Million Dollars ($10,000,000), or that is in an integral multiple of Five Million Dollars ($5,000,000) in excess thereof); provided, that if the aggregate amount of all LIBOR Loans or CD Rate Loans comprised in any Borrowing shall have been or would be reduced, by payment, prepayment, or conversion of part thereof to an amount less than Ten Million Dollars ($10,000,000), such LIBOR Loans or CD Rate Loans shall automatically convert into Reference Rate Loans, on and as of the end of the applicable Interest Period.
(b) If the Company desires to convert or continue any Loan pursuant to Section 2.04 (a) , it shall irrevocably request a conversion or continuation by a facsimile (confirmed promptly by
(A) the proposed Conversion Date or Continuation Date;
(B) the aggregate amount of Loans to be converted or continued;
(C) the nature of the proposed conversion or continuation; and
(D) the duration of the requested Interest Period, if the Loans are to be converted into or continued as LIBOR Loans or CD Rate Loans.
(c) If prior to the time set forth in Section 2.04(b), (i) the Company has failed to give a timely Notice of Conversion/Continuation with respect to such LIBOR Loans or CD Rate Loans or (ii) the Company has failed to...
Conversion and Continuation Elections for Borrowings. (Other Than Canadian Borrowings).
(a) The provisions of this Section 2.4 shall not apply to any conversion or continuation election with respect to Canadian Loans, which shall be governed solely by Section 2.
Conversion and Continuation Elections for Borrowings. (a) The Company may upon irrevocable written notice to the Agent in accordance with subsection 2.4(b):
(i) elect to convert on any Business Day, any Base Rate Loans other than Swingline Loans (or any part thereof in an amount not less than $3,000,000 except in the case of a conversion into an Offshore Rate Loans with a proposed Interest
Conversion and Continuation Elections for Borrowings. 27 2.5 Voluntary Termination or Reduction of Commitments. . . . . .
Conversion and Continuation Elections for Borrowings. (a The Company may, upon irrevocable written notice to the Administrative Agent in accordance with subsection 2.4(b: (i elect, as of any Business Day, in the case of Base Rate Loans, or as of the last day of the applicable Interest Period, in the case of Offshore Rate Loans, to convert such Loans (or any part thereof in an aggregate amount of $5,000,000 or a higher integral multiple of $1,000,000 into Loans of the other Type; or (ii elect, as of the last day of the applicable Interest Period, to continue any Offshore Rate Loans having Interest Periods expiring on such day (or any part thereof in an aggregate amount of $5,000,000 or a higher integral multiple of $1,000,000 for another Interest Period;
Conversion and Continuation Elections for Borrowings. (a) The Borrower may, upon irrevocable telephonic notice (such notice to be immediately confirmed in writing), to the Agent in accordance with Section 2.4(b) elect, as of any Business Day, in the case of Prime Rate Loans, or as of the last day of the applicable Interest Period, in the case of LIBOR Loans, to convert any such Loans (or any part thereof in an amount not less than $1,000,000, or that is in an integral multiple of $500,000 in excess thereof); provided, however, that if at any time the aggregate amount of LIBOR Loans in respect of any Borrowing is reduced, by payment, prepayment, or conversion of part thereof to be less than $1,000,000, such LIBOR Loans shall automatically convert into Prime Rate Loans, and on and after such date the right of the Borrower to continue such Loans as, and convert such Loans into, LIBOR Loans shall terminate.
(b) The Borrower shall deliver a Notice of Conversion/Continuation to be received by the Agent not later than
Conversion and Continuation Elections for Borrowings. (a) The Borrower may, upon irrevocable written notice to the Administrative Agent in accordance with SUBSECTION 2.1.4(b):
(i) elect, as of any Business Day, in the case of Prime Rate Loans, or as of the last day of the applicable Interest Period, in the case of Canadian Eurodollar Rate Loans, to convert any Loans (or any part thereof in an amount not less than Cdn.$5,000,000 or a higher integral multiple of Cdn.$1,000,000, in the case of conversion into Canadian Eurodollar Rate Loans, not less than Cdn.$500,000 or a higher integral multiple of Cdn.$100,000, in the case of conversion into Prime Rate Loans, and not less than Cdn.$1,000,000 or a higher integral multiple of Cdn.$100,000, in the case of conversion into BA Borrowings) into Loans of the other Type or into BA Borrowings; or
(ii) elect, as of the last day of the applicable Interest Period, to continue any Canadian Eurodollar Rate Loans having Interest Periods expiring on such day (or any part thereof in an amount not less than Cdn.$5,000,000 or a higher integral multiple of Cdn.$1,000,000); PROVIDED that if at any time the aggregate amount of Canadian Eurodollar Rate Loans in respect of any Borrowing is reduced, by payment, prepayment or conversion of part thereof, to be less than Cdn.$5,000,000, such Canadian Eurodollar Rate Loans shall automatically convert into Prime Rate Loans.
(b) The Borrower shall deliver a Notice of Conversion/Continuation to be received by the Administrative Agent not later than (i) 12:00 noon (Toronto time) at least three Business Days prior to the Conversion/Continuation Date, if the Loans are to be converted into or continued as Canadian Eurodollar Rate Loans; and (ii) 12:00 noon (Toronto time) one Business Day prior to the Conversion/Continuation Date, if the Loans are to be converted into Prime Rate Loans or BA Borrowings, specifying:
(A) the proposed Conversion/Continuation Date;
(B) the aggregate amount of Loans to be converted or continued;
(C) the Type of Loans or BA Borrowing resulting from the proposed conversion or continuation; and
(D) the duration of the requested Interest Period (if a conversion into Canadian Eurodollar Rate Loans), or the term for the Bankers Acceptances and BA Equivalent Notes (if a conversion into BA Borrowings).
(c) If, not later than 12:00 noon (Toronto time) at least three Business Days prior to the expiration of any Interest Period applicable to Canadian Eurodollar Rate Loans, the Borrower has failed to select a new Interest Period to...