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 notice to the Administrative Agent (a) not later than 1:00 p.m., New York City time, one Business Day prior to the day of any conversion, to convert any Eurodollar Borrowing into an ABR Borrowing, (b) not later than 1:00 p.m., New York City time, three Business Days prior to conversion or continuation, to convert any ABR Borrowing into a Eurodollar Borrowing or to continue any Eurodollar Borrowing as a Eurodollar Borrowing for an additional Interest Period, and (c) not later than 1:00 p.m., New York City time, three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar 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; (iii) 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(b) regarding the principal amount and maximum number of Borrowings of the relevant Type;

Appears in 1 contract

Samples: Credit Agreement (YRC Worldwide Inc.)

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Conversion and Continuation of Borrowings. The Borrower shall have the right at any time upon prior irrevocable written or fax notice (or telephonic notice promptly confirmed by written or fax notice) to the Administrative Agent (a) not later than 1:00 p.m., 12:00 noon (New York City time, ) one Business Day prior to the day of any conversion, to convert any Eurodollar Borrowing into an ABR Borrowing, (b) not later than 1:00 p.m., 12:00 noon (New York City time, ) three Business Days prior to conversion or continuation, to convert any ABR Borrowing into a Eurodollar Borrowing or to continue any Eurodollar Borrowing as a Eurodollar Borrowing for an additional Interest Period, and (c) not later than 1:00 p.m., 12:00 noon (New York City time, ) three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar 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 2.02(b) regarding the principal amount and maximum number of Borrowings of the relevant Type;2.02

Appears in 1 contract

Samples: Term Loan Credit Agreement (Network Communications, Inc.)

Conversion and Continuation of Borrowings. The A Borrower shall have the right at any time upon prior irrevocable written notice to the Administrative Agent (a) not later than 1:00 p.m.12:00 noon, New York City Dallas time, one Business Day prior to the day of any conversion, to convert any Eurodollar Eurocurrency Borrowing in dollars into an ABR Borrowing, (b) not later than 1:00 p.m.12:00 noon, New York City Dallas time, three Business Days prior to conversion or continuation, to convert any ABR Borrowing into a Eurodollar Borrowing or Eurocurrency Borrowing, to continue any Eurodollar Eurocurrency Borrowing as a Eurodollar Eurocurrency Borrowing for an additional Interest Period, or to continue any EURIBOR Borrowing as a EURIBOR Borrowing for an additional Interest Period and (c) not later than 1:00 p.m.12:00 noon, New York City Dallas time, three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar Euro Rate 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 2.02(b) regarding the principal amount and maximum number of Borrowings of the relevant Type;2.02

Appears in 1 contract

Samples: Credit Agreement (Flowserve Corp)

Conversion and Continuation of Borrowings. The Borrower shall have the right at any time upon prior irrevocable written notice to the Administrative Agent (a) not later than 1:00 2:00 p.m., New York City time, one Business Day prior to the day of any conversion, to convert any Eurodollar Borrowing into an ABR Borrowing, Borrowing and (b) not later than 1:00 2:00 p.m., New York City time, three Business Days prior to conversion or continuation, to convert any ABR Borrowing into a Eurodollar Borrowing or to continue any Eurodollar Borrowing as a Eurodollar Borrowing for an additional Interest Period, and (c) not later than 1:00 p.m., New York City time, three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar Borrowing to another permissible Interest Period, subject in each case to the following: (i) [reserved]; (ii) each conversion or continuation of Tranche B-1 Loans shall be made pro rata PRO RATA among the Tranche B-1 Lenders in accordance with the respective principal amounts of the Tranche B-1 Loans comprising the converted or continued Borrowing, and each conversion or continuation of Tranche B-2 Loans shall be made PRO RATA among the Tranche B-2 Lenders in accordance with the principal amounts of the Tranche B-2 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 2.02(b) regarding the principal amount and maximum number of Borrowings of the relevant Type;2.02

Appears in 1 contract

Samples: Second Lien Credit Agreement (Pacific Energy Resources LTD)

Conversion and Continuation of Borrowings. The Borrower shall have the right at any time upon prior irrevocable written notice to the Administrative Paying Agent (a) not later than 1:00 p.m.12:00 (noon), New York City time, one Business Day prior to the day of any conversion, to convert any Eurodollar Eurocurrency Borrowing denominated in Dollars into an ABR a Base Rate Borrowing, (b) not later than 1:00 p.m.11:00 a.m., New York City time, three Business Days prior to conversion or continuation, to convert any ABR Base Rate Borrowing into a Eurodollar Eurocurrency Borrowing denominated in Dollars or to continue any Eurodollar Eurocurrency Borrowing as a Eurodollar Eurocurrency Borrowing in the same currency for an additional Interest Period, and (c) not later than 1:00 p.m.11:00 a.m., New York City time, three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar Eurocurrency 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 2.02(b) regarding the principal amount and maximum number of Borrowings of the relevant Type;2.02

Appears in 1 contract

Samples: Credit Agreement (Pacificorp /Or/)

Conversion and Continuation of Borrowings. The Borrower shall have the right at any time upon prior irrevocable written notice to the Administrative Agent (submitted by hand delivery or e-mail) (a) not later than 1:00 p.m.11:00 a.m., New York City time, one Business Day prior to on the day date of any conversion, to convert any Eurodollar Borrowing into an ABR Borrowing, (b) not later than 1:00 p.m.12:00 (noon), New York City time, three Business Days prior to conversion or continuation, to convert any ABR Borrowing into a Eurodollar Borrowing or to continue any Eurodollar Borrowing as a Eurodollar Borrowing for an additional Interest Period, and (c) not later than 1:00 p.m.12:00 (noon), New York City time, three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar 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 2.02(b2.02 (b) regarding the principal amount and maximum number of Borrowings of the relevant Type;

Appears in 1 contract

Samples: Credit Agreement (Quorum Health Corp)

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Conversion and Continuation of Borrowings. The Each Borrower shall have the right at any time upon prior irrevocable written notice to the Administrative Agent (a) not later than 1:00 p.m.12:00 (noon), New York City time, one Business Day prior to the day of any conversion, to convert any Eurodollar Borrowing of such Borrower into an ABR Borrowing, (b) not later than 1:00 p.m.12:00 (noon), New York City time, three Business Days prior to conversion or continuation, to convert any ABR Borrowing of such Borrower into a Eurodollar Borrowing or to continue any Eurodollar Borrowing of such Borrower as a Eurodollar Borrowing for an additional Interest Period, Period and (c) not later than 1:00 p.m.12:00 (noon), New York City time, three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar Borrowing of such Borrower 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 2.02(b) regarding the principal amount and maximum number of Borrowings of the relevant Type;2.02

Appears in 1 contract

Samples: Credit Agreement (NRG Energy Inc)

Conversion and Continuation of Borrowings. (a) The Borrower shall have the right at any time (subject to Sections 2.08 and 2.20(d)) upon prior irrevocable written notice to the Administrative Agent (ai) not later than 1:00 p.m.12:00 (noon), New York City time, one Business Day prior to the day of any conversion, to convert any Eurodollar Borrowing into an ABR Borrowing, (bii) not later than 1:00 p.m.11:00 a.m., New York City time, three Business Days prior to conversion or continuation, to convert any ABR Borrowing into a Eurodollar Borrowing or to continue any Eurodollar Borrowing as a Eurodollar Borrowing for an additional Interest Period, and (ciii) not later than 1:00 p.m.11:00 a.m., New York City time, three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar Borrowing to another permissible Interest Period, subject in each case to the following: (i) [reserved]; (iiA) 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; (iiiB) 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(b) regarding the principal amount and maximum number of Borrowings of the relevant Type;2.02

Appears in 1 contract

Samples: Credit Agreement (Westinghouse Air Brake Co /De/)

Conversion and Continuation of Borrowings. The Borrower shall have the right at any time upon prior irrevocable written notice by delivery of a Continuation/Conversion Request to the Administrative Agent (a) not later than 1:00 p.m.12:00 (noon), New York City time, one Business Day prior to the day of any conversion, to convert any Eurodollar Borrowing into an ABR Borrowing, (b) not later than 1:00 p.m.10:00 a.m., New York City time, three Business Days prior to conversion or continuation, to convert any ABR Borrowing into a Eurodollar Borrowing or to continue any Eurodollar Borrowing as a Eurodollar Borrowing for an additional Interest Period, and (c) not later than 1:00 p.m.10:00 a.m., New York City time, three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar 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 2.02(b) regarding the principal amount and maximum number of Borrowings of the relevant Type;2.02

Appears in 1 contract

Samples: Credit Agreement (Cross Country Inc)

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