Common use of Conversion and Continuation of Borrowings Clause in Contracts

Conversion and Continuation of Borrowings. The Borrower shall have the right at any time upon prior irrevocable written or telecopy notice (or telephone notice promptly confirmed by written or telecopy notice) to the Administrative Agent (a) not later than 11:00 a.m., New York City time, on the day of conversion, to convert any Eurodollar Borrowing into an ABR Borrowing, (b) not later than 11:00 a.m., New York City time, three Business Days prior to conversion or continuation, to convert any ABR Borrowing into a Eurodollar Revolving Credit Borrowing or to continue any Eurodollar Revolving Credit Borrowing as a Eurodollar Revolving Credit Borrowing for an additional Interest Period, and (c) not later than 11:00 a.m., New York City time, three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar Revolving Credit Borrowing to another permissible Interest Period, subject in each case to the following: (i) each conversion or continuation shall be made pro rata among the Lenders in accordance with the respective principal amounts of the Loans comprising the converted or continued Borrowing; (ii) if less than all the outstanding principal amount of any Borrowing shall be converted or continued, then each resulting Borrowing shall satisfy the limitations specified in Sections 2.02(a) and 2.02

Appears in 3 contracts

Samples: 364 Day Credit Agreement (Laboratory Corp of America Holdings), 364 Day Credit Agreement (Laboratory Corp of America Holdings), 364 Day Credit Agreement (Laboratory Corp of America Holdings)

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Conversion and Continuation of Borrowings. The Borrower shall have the right at any time upon prior irrevocable written or telecopy notice by delivery of a Continuation/Conversion Request (or telephone by telephonic notice promptly confirmed by written or telecopy noticedelivery of a Continuation/Conversion Request) to the Administrative Agent (a) not later than 11:00 a.m., New York City time, on the day of one Business Day prior to conversion, to convert any Eurodollar Borrowing into an ABR Borrowing, (b) not later than 11:00 a.m., New York City time, three Business Days prior to conversion or continuation, to convert any ABR Borrowing into a Eurodollar Revolving Credit Borrowing or to continue any Eurodollar Revolving Credit Borrowing as a Eurodollar Revolving Credit Borrowing for an additional Interest Period, and (c) not later than 11:00 a.m., New York City time, three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar Revolving Credit Borrowing to another permissible Interest Period, subject in each case to the following: (i) each conversion or continuation shall be made pro rata among the Lenders in accordance with the respective principal amounts of the Loans comprising the converted or continued Borrowing; (ii) if less than all the outstanding principal amount of any Borrowing shall be converted or continued, then each resulting Borrowing shall satisfy the limitations specified in Sections 2.02(a) and 2.02

Appears in 2 contracts

Samples: Credit Agreement (Hudson Respiratory Care Inc), Credit Agreement (Century Maintenance Supply Inc)

Conversion and Continuation of Borrowings. The Borrower shall have the right at any time upon prior irrevocable written or telecopy notice (or telephone notice promptly confirmed by written or telecopy notice) to the Administrative Agent (a) not later than 11:00 a.m., New York City time, on the day of one Business Day prior to conversion, to convert any Eurodollar Borrowing into an ABR Borrowing, (b) not later than 11:00 a.m., New York City time, three Business Days prior to conversion or continuation, to convert any ABR Borrowing into a Eurodollar Revolving Credit Borrowing or to continue any Eurodollar Revolving Credit Borrowing as a Eurodollar Revolving Credit Borrowing for an additional Interest Period, and (c) not later than 11:00 a.m., New York City time, three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar Revolving Credit Borrowing to another permissible Interest Period, subject in each case to the following: (i) each conversion or continuation shall be made pro rata among the Lenders in accordance with the respective principal amounts of the Loans comprising the converted or continued Borrowing; (ii) if less than all the outstanding principal amount of any Borrowing shall be converted or continued, then each resulting Borrowing shall satisfy the limitations specified in Sections 2.02(a) and 2.02

Appears in 1 contract

Samples: Credit Agreement (Burns Philp Netherlands European Holdings Bv)

Conversion and Continuation of Borrowings. The Administrative Borrower shall have the right at any time upon prior irrevocable written or telecopy notice (or telephone notice promptly confirmed by written or telecopy notice) to the Administrative Collateral Agent (a) not later than 11:00 a.m.12:00 p.m., New York City time, on the day of one Business Day prior to conversion, to convert any Eurodollar Borrowing of the Borrowers into an ABR Borrowing, (b) not later than 11:00 a.m.2:00 p.m., New York City time, three Business Days prior to conversion or continuation, to convert any ABR Borrowing of the Borrowers into a Eurodollar Revolving Credit Borrowing or to continue any Eurodollar Revolving Credit Borrowing of the Borrowers as a Eurodollar Revolving Credit Borrowing for an additional Interest Period, Period and (c) not later than 11:00 a.m.2:00 p.m., New York City time, three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar Revolving Credit Borrowing of the Borrowers to another permissible Interest Period, subject in each case to the following: (i) each conversion or continuation shall be made pro rata among the Lenders in accordance with the respective principal amounts of the Loans comprising the converted or continued Borrowing; (ii) if less than all the outstanding principal amount of any Borrowing shall be converted or continued, then each resulting Borrowing shall satisfy the limitations specified in Sections 2.02(a) and 2.02

Appears in 1 contract

Samples: Revolving Credit Agreement (Maxxam Inc)

Conversion and Continuation of Borrowings. The Borrower shall have the right at any time upon prior irrevocable written or telecopy notice (or telephone notice promptly confirmed by written or telecopy notice) to the Administrative Agent (a) not later than 11:00 a.m., New York City time, on the day date of conversion, to convert any one or more Eurodollar Borrowing Revolving Borrowings into an ABR Borrowing, (b) not later than 11:00 a.m., New York City time, three Business Days prior to conversion or continuation, to convert any one or more ABR Borrowing Borrowings into a Eurodollar Revolving Credit Borrowing Borrowings or to continue any one or more Eurodollar Revolving Credit Borrowing Borrowings as a Eurodollar Revolving Credit Borrowing for an additional Interest Period, and (c) not later than 11:00 a.m., New York City time, three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar Revolving Credit Borrowing to another permissible Interest Period, subject in each case to the following: (i) each conversion or continuation shall be made pro rata among the Lenders in accordance with the respective principal amounts of the Loans comprising the converted or continued Borrowing; (ii) if less than all the outstanding principal amount of any Borrowing shall be converted or continued, then each resulting Borrowing shall satisfy the limitations specified in Sections 2.02(a) and 2.02

Appears in 1 contract

Samples: Credit Agreement (Oak Industries Inc)

Conversion and Continuation of Borrowings. The applicable Borrower shall have the right at any time upon prior irrevocable written or telecopy notice to the Administrative Agent given by telephone (or telephone notice promptly confirmed by written or telecopy notice) to the Administrative Agent ) (a) not later than 11:00 a.m.12:00 (noon), New York City time, on the day of one Business Day prior to conversion, to convert any Eurodollar Borrowing into an ABR Borrowing, (b) not later than 11:00 a.m., New York City time, three Business Days prior to conversion or continuation, to convert any ABR Borrowing into a Eurodollar Revolving Credit Borrowing or to continue any Eurodollar Revolving Credit Borrowing as a Eurodollar Revolving Credit Borrowing for an additional Interest Period, and (c) not later than 11:00 a.m., New York City time, three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar Revolving Credit Borrowing to another permissible Interest Period, subject in each case to the following: (i) each conversion or continuation shall be made pro rata among the Lenders in accordance with the respective principal amounts of the Loans comprising the converted or continued Borrowing; (ii) if less than all the outstanding principal amount of any Borrowing shall be converted or continued, then each resulting Borrowing shall satisfy the limitations specified in Sections 2.02(a) and 2.02

Appears in 1 contract

Samples: Credit Agreement (Lifestyle Furnishings International LTD)

Conversion and Continuation of Borrowings. The Borrower shall have the right at any time upon prior irrevocable written or telecopy notice (or telephone notice promptly confirmed by written or telecopy notice) to the Administrative Agent (a) not later than 11:00 a.m.12:00 p.m. (noon), New York City time, on the day of one Business Day prior to conversion, to convert any Eurodollar Borrowing of the Borrower into an ABR Borrowing, (b) not later than 11:00 a.m.12:00 p.m. (noon), New York City time, three Business Days prior to conversion or continuation, to convert any ABR Borrowing of the Borrower into a Eurodollar Revolving Credit Borrowing or to continue any Eurodollar Revolving Credit Borrowing of the Borrower as a Eurodollar Revolving Credit Borrowing for an additional Interest Period, Period and (c) not later than 11:00 a.m.12:00 p.m. (noon), New York City time, three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar Revolving Credit Borrowing of the Borrower to another permissible Interest Period, subject in each case to the following: (i) each conversion or continuation shall be made pro rata among the Lenders in accordance with the respective principal amounts of the Loans comprising the converted or continued Borrowing; (ii) if less than all the outstanding principal amount of any Borrowing shall be converted or continued, then each resulting Borrowing shall satisfy the limitations specified in Sections 2.02(a) and 2.02

Appears in 1 contract

Samples: Credit Agreement (Alpha Natural Resources, Inc.)

Conversion and Continuation of Borrowings. The Borrower shall have the right at any time upon prior irrevocable written or telecopy notice (or telephone notice promptly confirmed by written or telecopy notice) to the Administrative Agent (a) not later than 11:00 a.m., New York City time, on the day of conversion, to convert any Eurodollar Borrowing into an ABR Borrowing, (b) not later than 11:00 a.m., New York City time, three Business Days prior to conversion or continuation, to convert any ABR Borrowing into a Eurodollar Revolving Credit Borrowing or to continue any Eurodollar Revolving Credit Borrowing as a Eurodollar Revolving Credit Borrowing for an additional Interest Period, and (c) not later than 11:00 a.m., New York City time, three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar Revolving Credit Borrowing to another permissible Interest Period, subject in each case to the following: (i) each conversion or continuation shall be made pro rata among the Lenders in accordance with the respective principal amounts of the Loans comprising the converted or continued Borrowing; (ii) if less than all the outstanding principal amount of any Borrowing shall be converted or continued, then each resulting Borrowing shall satisfy the limitations specified in Sections 2.02(a) and 2.02limitations

Appears in 1 contract

Samples: Bridge Loan Agreement (Laboratory Corp of America Holdings)

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Conversion and Continuation of Borrowings. The Each Borrower shall have the right at any time upon prior irrevocable written or telecopy notice (or telephone notice promptly confirmed by written or telecopy notice) to the Administrative Agent (a) not later than 11:00 a.m.12:30 p.m., New York City time, on the day of one Business Day prior to conversion, to convert any Eurodollar Eurocurrency Borrowing denominated in Dollars into an ABR Borrowing, (b) not later than 11:00 a.m.12:30 p.m., New York City time, three Business Days (or in the case of an Alternative Currency Borrowing, four Business Days) prior to conversion or continuation, to convert any ABR Borrowing into a Eurodollar Revolving Credit Eurocurrency Borrowing denominated in Dollars or to continue any Eurodollar Revolving Credit Eurocurrency Borrowing as a Eurodollar Revolving Credit Eurocurrency Borrowing in the same currency for an additional Interest Period, and (c) not later than 11:00 a.m.12:30 p.m., New York City time, three Business Days (or in the case of an Alternative Currency Borrowing, four Business Days) prior to conversion, to convert the Interest Period with respect to any Eurodollar Revolving Credit Eurocurrency Borrowing to another permissible Interest Period, subject in each case to the following: (i) each conversion or continuation shall be made pro rata among the Lenders in accordance with the respective principal amounts of the Loans comprising the converted or continued Borrowing; (ii) if less than all the outstanding principal amount of any Borrowing shall be converted or continued, then each resulting Borrowing shall satisfy the limitations specified in Sections 2.02(a) and 2.02

Appears in 1 contract

Samples: Credit Agreement (Dirsamex Sa De Cv)

Conversion and Continuation of Borrowings. The Each Borrower ------------------------------------------ shall with respect to any Borrowing for its account have the right at any time upon prior irrevocable written or telecopy notice (or telephone notice promptly confirmed by written or telecopy notice) to the Administrative Agent (a) not later than 11:00 a.m.12:00 (noon), New York City time, on the day of one Business Day prior to conversion, to convert any such Eurodollar Borrowing into an ABR BorrowingBorrowing of the same Class, (b) not later than 11:00 10:00 a.m., New York City time, three Business Days prior to conversion or continuation, to convert any such ABR Borrowing into a Eurodollar Revolving Credit Borrowing of the same Class or to continue any Eurodollar Revolving Credit Borrowing as a Eurodollar Revolving Credit Borrowing of the same Class for an additional Interest Period, and (c) not later than 11:00 10:00 a.m., New York City time, three Business Days prior to conversion, to convert the Interest Period with respect to any such Eurodollar Revolving Credit Borrowing to another permissible Interest Period, subject in each case to the following: (i) each conversion or continuation shall be made pro rata among the Lenders in accordance with the respective principal amounts of the Loans comprising the converted or continued Borrowing; (ii) if less than all the outstanding principal amount of any Borrowing shall be converted or continued, then each resulting Borrowing shall satisfy the limitations specified in Sections 2.02(a) and 2.02

Appears in 1 contract

Samples: Credit Agreement (Guarantee Life Companies Inc)

Conversion and Continuation of Borrowings. The Administrative Borrower shall have the right at any time upon prior irrevocable written or telecopy notice (or telephone notice promptly confirmed by written or telecopy notice) to the Administrative Agent (a) not later than 11:00 a.m.12:00 (noon), New York City time, on the day of one Business Day prior to conversion, to convert any Eurodollar Borrowing of the Borrowers into an ABR Borrowing, (b) not later than 11:00 a.m.2:00 p.m., New York City time, three Business Days prior to conversion or continuation, to convert any ABR Borrowing of the Borrowers into a Eurodollar Revolving Credit Borrowing or to continue any Eurodollar Revolving Credit Borrowing of the Borrowers as a Eurodollar Revolving Credit Borrowing for an additional Interest Period, Period and (c) not later than 11:00 a.m.2:00 p.m., New York City time, three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar Revolving Credit Borrowing of the Borrowers to another permissible Interest Period, subject in each case to the following: (i) each conversion or continuation shall be made pro rata among the Lenders in accordance with the respective principal amounts of the Loans comprising the converted or continued Borrowing; (ii) if less than all the outstanding principal amount of any Borrowing shall be converted or continued, then each resulting Borrowing shall satisfy the limitations specified in Sections 2.02(a) and 2.02

Appears in 1 contract

Samples: Revolving Credit Agreement (Maxxam Inc)

Conversion and Continuation of Borrowings. The Borrower shall have the right at any time upon prior irrevocable written or telecopy notice (or telephone notice promptly confirmed by written or telecopy notice) to the Administrative Agent (a) not later than 11:00 a.m., New York City time, on the day of conversion, to convert any Eurodollar Borrowing into an ABR Borrowing, (b) not later than 11:00 a.m., New York City time, three Business Days prior to conversion or continuation, to convert any ABR Borrowing into a Eurodollar Revolving Credit Borrowing or to continue any Eurodollar Revolving Credit Borrowing as a Eurodollar Revolving Credit Borrowing for an additional Interest Period, and (c) not later than 11:00 a.m., New York City time, three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar Revolving Credit Borrowing to another permissible Interest Period, subject in each case to the following: (i) each conversion or continuation shall be made pro rata among the Lenders in accordance with the respective principal amounts of the Loans comprising the converted or continued Borrowing; (ii) if less than all the outstanding principal amount of any Borrowing shall be converted or continued, then each resulting Borrowing shall satisfy the limitations specified in Sections 2.02(a) and 2.02

Appears in 1 contract

Samples: Bridge Loan Agreement (Laboratory Corp of America Holdings)

Conversion and Continuation of Borrowings. The Borrower shall have the right at any time upon prior irrevocable written or telecopy notice (or telephone notice promptly confirmed by written or telecopy notice) to the Administrative Agent (a) not later than 11:00 a.m.1:00 p.m., New York City time, on one Business Day prior to the day of any conversion, to convert any Eurodollar EurodollarSOFR Borrowing into an ABR Borrowing, (b) not later than 11:00 a.m.1:00 p.m., New York City time, three Business Days prior to conversion or continuation, to convert any ABR Borrowing into a Eurodollar Revolving Credit EurodollarSOFR Borrowing or to continue any Eurodollar Revolving Credit EurodollarSOFR Borrowing as a Eurodollar Revolving Credit EurodollarSOFR Borrowing for an additional Interest Period, and (c) not later than 11:00 a.m.1:00 p.m., New York City time, three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar Revolving Credit EurodollarSOFR Borrowing to another permissible Interest Period, subject in each case to the following: (i) [reserved]; (ii) each conversion or continuation shall be made pro rata among the Lenders in accordance with the respective principal amounts of the Loans comprising the converted or continued Borrowing; (iiiii) if less than all the outstanding principal amount of any Borrowing shall be converted or continued, then each resulting Borrowing shall satisfy the limitations specified in Sections 2.02(a) and 2.022.02(b) regarding the principal amount and maximum number of Borrowings of the relevant Type;

Appears in 1 contract

Samples: Credit Agreement (Yellow Corp)

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