Common use of Conversion and Continuation of Outstanding Advances Clause in Contracts

Conversion and Continuation of Outstanding Advances. Base Rate Advances shall continue as Base Rate Advances unless and until such Base Rate Advances are converted into LIBOR Advances pursuant to this Section 2.11 or are repaid in accordance with Section 2.9. Each LIBOR Advance shall continue as a LIBOR Advance until the end of the then applicable Interest Period therefor, at which time such LIBOR Advance shall be automatically converted into a Base Rate Advance unless (x) such LIBOR Advance is or was repaid in accordance with Section 2.9 or (y) the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such LIBOR Advance continue as a LIBOR Advance for the same or another Interest Period. Subject to the terms of Section 2.8, the Borrower may elect from time to time to convert all or any part of a Base Rate Advance into a LIBOR Advance. The Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each conversion of a Base Rate Advance into a LIBOR Advance or continuation of a LIBOR Advance not later than 11:00 a.m., Charlotte time, at least three Business Days prior to the date of the requested conversion or continuation, specifying: (i) the requested date, which shall be a Business Day, of such conversion or continuation, (ii) the aggregate amount and Type of the Advance which is to be converted or continued, and (iii) the amount of such Advance which is to be converted into or continued as a LIBOR Advance and the duration of the Interest Period applicable thereto.

Conversion and Continuation of Outstanding Advances. Base Rate ABR Advances shall continue as Base Rate ABR Advances unless and until such Base Rate ABR Advances are converted into LIBOR Advances pursuant to this Section 2.11 2.9 or are repaid in accordance with Section 2.92.7. Each LIBOR Advance shall continue as a LIBOR Advance until the end of the then applicable Interest Period therefor, at which time such LIBOR Advance shall be automatically converted into a Base Rate an ABR Advance unless (xi) such LIBOR Advance is or was repaid in accordance with Section 2.9 2.7 or (yii) the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such LIBOR Advance continue as a LIBOR Advance for the same or another Interest Period. Subject to the terms of Section 2.82.6, the Borrower may elect from time to time to convert all or any part of a Base Rate an ABR Advance into a LIBOR Advance. The Borrower shall give the Administrative Agent irrevocable notice (a “"Conversion/Continuation Notice”") of each conversion of a Base Rate an ABR Advance into a LIBOR Advance or continuation of a LIBOR Advance not later than 11:00 a.m., Charlotte 10:00 a.m. (Cleveland time, ) at least three Business Days prior to the date of the requested conversion or continuation, specifying: (ia) the requested date, which shall be a Business Day, of such conversion or continuation, (iib) the aggregate amount and Type of the Advance which is to be converted or continued, and (iiic) the amount of such Advance which is to be converted into or continued as a LIBOR Advance and the duration of the Interest Period applicable theretoAdvance.