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. Each LIBOR Advance shall continue as a LIBOR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Advance shall be automatically converted into a Base Rate Advance unless Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Advance either continue as a LIBOR Advance for the same or another Interest Period or be converted to an Advance of another Type. Subject to the terms of Section 2.7, Borrower may elect from time to time to convert all or any part of an Advance of any Type into any other Type or Types of Advances; provided that any conversion of any LIBOR Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance. Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each conversion of an Advance to a LIBOR Advance or continuation of a LIBOR Advance not later than 10:00 a.m. (Cleveland time), at least three Business Days, in the case of a conversion into or continuation of a LIBOR Advance, 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 and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Advance, the duration of the LIBOR Interest Period applicable thereto.
Appears in 2 contracts
Samples: Senior Credit Agreement (Terreno Realty Corp), Senior Credit Agreement (Terreno Realty Corp)
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. Each LIBOR Advance shall continue as a LIBOR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Advance shall be automatically converted into a Base Rate an ABR Advance unless the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Advance either continue as a an LIBOR Advance for the same or another Interest Period or be converted to an Advance of another TypePeriod. Subject to the terms of Section 2.72.9, the Borrower may elect from time to time to convert all or any part of an Advance of any Type into any other Type or Types of Advances; provided that any conversion of any LIBOR Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance. The Borrower shall give the Administrative Agent irrevocable notice (a “"Conversion/Continuation Notice”") of each conversion of an Advance to a LIBOR Advance or continuation of a LIBOR Advance not later than 10:00 a.m. (Cleveland Chicago time), ) at least one Business Day, in the case of a conversion into an ABR Advance, or three Business Days, in the case of a conversion into or continuation of a LIBOR Advance, prior to the date of the requested conversion or continuation, specifying:
(i) the requested 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 and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Advance, the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
Samples: Unsecured Revolving Credit Agreement (Storage Usa Inc)
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 AdvancesAdvances pursuant to this Section 2.9 or are repaid. Each LIBOR Advance shall continue as a LIBOR Advance until the end of the then applicable LIBOR 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 or (y) Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (defined below) requesting that, at the end of such LIBOR Interest Period, such LIBOR Advance either continue as a LIBOR Advance for the same or another Interest Period or be converted to an Advance of another TypePeriod. Subject to the terms of Section 2.7, Borrower may elect from time to time to convert all or any part of an a Base Rate Advance of any Type into any other Type or Types of Advancesa LIBOR Advance; provided that any conversion of any LIBOR each Advance shall be made on, and only on, the last day a minimum aggregate amount of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance$1,000,000 or any larger integral multiple thereof. Borrower shall give the Administrative Agent irrevocable notice (a “"Conversion/Continuation Notice”") of each conversion of an a Base Rate Advance to into a LIBOR Advance or continuation of a LIBOR Advance not later than 10:00 a.m. (Cleveland Chicago time), ) at least three Business Days, in the case of a conversion into or continuation of a LIBOR Advance, Days prior to the date of the requested conversion or continuation, specifying:
(i) : the requested date 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) continued and the amount and Type(s) of Advance(s) into which such Advance which is to be converted into or continued and, in the case of a conversion into or continuation of as a LIBOR Advance, Advance and the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
Conversion and Continuation of Outstanding Advances. Base Rate CBR Advances --------------------------------------------------- shall continue as Base Rate CBR Advances unless and until such Base Rate CBR Advances are converted into LIBOR Advances. Each LIBOR Advance shall continue as a LIBOR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Advance shall be automatically converted into a Base Rate CBR Advance unless the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Advance either continue as a an LIBOR Advance for the same or another Interest Period or be converted to an Advance of another TypePeriod. Subject to the terms of Section 2.7, the Borrower may elect from time to time to convert all or any part ----------- of an Advance of any Type into any other Type or Types of Advances; provided that any conversion of any LIBOR Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance. The Borrower shall give the Administrative Agent irrevocable notice (a “"Conversion/Continuation Notice”") of each conversion of an Advance to a LIBOR ------------------------------ Advance or continuation of a LIBOR Advance not later than 10:00 a.m. (Cleveland Chicago time), ) at least one Business Day, in the case of a conversion into a CBR Advance, or three Business Days, in the case of a conversion into or continuation of a LIBOR Advance, prior to the date of the requested conversion or continuation, specifying:
(i) the requested date 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 and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Advance, the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
Samples: Credit Agreement (Washington Real Estate Investment Trust)
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 LIBORSOFR Advances. Each LIBOR LIBORTerm SOFR Advance shall continue as a LIBOR LIBORTerm SOFR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR LIBORTerm SOFR Advance shall be automatically converted into a Base Rate Advance unless Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR LIBORTerm SOFR Advance either continue as a LIBOR LIBORTerm SOFR Advance for the same or another Interest Period or be converted to an Advance of another Type. Subject to the terms of Section 2.7, Borrower may elect from time to time to convert all or any part of an Advance of any Type into any other Type or Types of Advances; provided that any conversion of any LIBOR LIBORTerm SOFR Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, and that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance. Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each conversion of an Advance to a LIBOR LIBORTerm SOFR Advance or continuation of a LIBOR LIBORTerm SOFR Advance not later than 10:00 a.m. (Cleveland time), at least three Business Days, in the case of a conversion into or continuation of a LIBOR LIBORDaily Simple SOFR Advance, 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 and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR LIBORTerm SOFR Advance, the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
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 AdvancesEurodollar Advances pursuant to this Section 2.9 or are repaid in accordance with Section 2.7. Each LIBOR Eurodollar Advance shall continue as a LIBOR Eurodollar Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Eurodollar Advance shall be automatically converted into a Base Rate Advance unless (x) such Eurodollar Advance is or was repaid in accordance with Section 2.7 or (y) the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Eurodollar Advance either continue as a LIBOR Eurodollar Advance for the same or another Interest Period or be converted to an Advance of another TypePeriod. Subject to the terms of Section 2.72.6, the Borrower may elect from time to time to convert all or any part of an a Base Rate Advance of any Type into any other Type or Types of Advances; provided that any conversion of any LIBOR Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Eurodollar Advance. The Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) (i) in the form attached hereto as Exhibit E or such other form as may be approved by the Agent, in each case, appropriately completed and signed by an Authorized Officer of the Borrower or (ii) in accordance with Section 2.14, which, when confirmed in writing, shall be in substantially the form attached hereto as Exhibit E or such other form as may be approved by the Agent, in each case, appropriately completed and signed by an Authorized Officer of the Borrower, of each conversion of an a Base Rate Advance to into a LIBOR Eurodollar Advance or continuation of a LIBOR Eurodollar Advance not later than 10:00 11:00 a.m. (Cleveland time), at least three on the third Business Days, in the case of a conversion into or continuation of a LIBOR Advance, Day prior to the date of the requested conversion or continuation, specifying:
(ia) the requested date 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 and Type(s) duration of Advance(s) into which such Advance is to be converted or continued and, in the case of Interest Period applicable thereto. If the Borrower requests a conversion into to, or continuation of a LIBOR Advance, the duration of the LIBOR Eurodollar Advance but fails to specify an Interest Period applicable theretotherefor, such Eurodollar Advance will be deemed to have an Interest Period of one month. After giving effect to all Advances, all conversions of Advances from one Type to the other, and all continuations of Advances as the same Type, there shall at no time be more than ten Interest Periods in effect.
Appears in 1 contract
Samples: Term Loan Agreement (Enable Midstream Partners, LP)
Conversion and Continuation of Outstanding Advances. Base Floating Rate Advances shall continue as Base Floating Rate Advances unless and until such Base Floating Rate Advances are converted into LIBOR Advances. Each LIBOR Advance shall continue as a LIBOR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Advance shall be automatically converted into a Base Floating Rate Advance unless the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Advance either continue as a an LIBOR Advance for the same or another Interest Period or be converted to an Advance of another TypePeriod. Subject to the terms of Section 2.7, the Borrower may elect from time to time to convert all or any part of an Advance of any Type into any other Type or Types of Advances; provided that any conversion of any LIBOR Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance. The Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each conversion of an Advance to a LIBOR Advance or continuation of a LIBOR Advance not later than 10:00 a.m. (Cleveland Chicago time), ) at least one Business Day, in the case of a conversion into a Floating Rate Advance, or three Business Days, in the case of a conversion into or continuation of a LIBOR Advance, prior to the date of the requested conversion or continuation, specifying:
(i) the requested date 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 and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Advance, the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
Samples: Credit Agreement (Washington Real Estate Investment Trust)
Conversion and Continuation of Outstanding Advances. Base Floating Rate Advances shall continue as Base Floating Rate Advances unless and until such Base Floating Rate Advances are converted into LIBOR Rate Advances. Each LIBOR Rate Advance shall continue as a LIBOR Rate Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Rate Advance shall be automatically converted into a Base Floating Rate Advance unless the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Rate Advance either continue as a LIBOR Rate Advance for the same or another Interest Period or be converted to an Advance of another Type. Subject to the terms of Section 2.72.5, the Borrower may elect from time to time to convert all or any part of an Advance of any Type into any other Type or Types of Advances; provided that any conversion of any LIBOR Rate Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance. The Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each conversion of an Advance to a LIBOR Rate Advance or continuation of a LIBOR Rate Advance not later than 10:00 11:00 a.m. (Cleveland time), at least three Business Days, in the case of a conversion into or continuation of a LIBOR Rate Advance, prior to the date of the requested conversion or continuation, specifying:
(i) 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 and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Rate Advance, the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
Conversion and Continuation of Outstanding Advances. Base Floating Rate Advances shall continue as Base Floating Rate Advances unless and until such Base Floating Rate Advances are converted into LIBOR Fixed Rate Advances. Each LIBOR Fixed Rate Advance of any Type shall continue as a LIBOR Fixed Rate Advance of such Type until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Fixed Rate Advance shall be automatically converted convert into a Base Fixed Rate Advance unless with a LIBOR Interest Period of one month, until the Borrower shall have given provides the Administrative Agent with a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Fixed Rate Advance either continue as a LIBOR Fixed Rate Advance of such Type for the same or another Interest Period or be converted to an Advance of another Type. Subject to the terms of Section 2.7, The Borrower may elect from time to time to convert all or any part of an Advance of any Type into any other Type or Types of Advances; provided that any conversion of any LIBOR Fixed Rate Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving thereto and any conversion of an Advance can only shall be converted into another Type in the minimum amount of Revolving Advance, that a Term A Advance can only be converted into another Type $1,000,000 (and in multiples of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance$100,000 if in excess thereof). The Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each conversion of an Advance to a LIBOR Fixed Rate Advance or continuation of a LIBOR Fixed Rate Advance (other than with respect to an automatic conversion as set forth above) not later than 10:00 a.m. (Cleveland time), ) at least one Business Day, or three Business Days, in the case of a conversion into a LIBOR Advance or continuation of a LIBOR AdvanceAdvance having an Interest Period of other than one month, 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 and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a Fixed Rate Advance having a LIBOR AdvanceInterest Period other than one month, the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
Samples: Secured Term Loan Agreement (Developers Diversified Realty Corp)
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. Each LIBOR Advance shall continue as a LIBOR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Advance shall be automatically converted into a Base Rate an ABR Advance unless the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Advance either continue as a LIBOR Advance for the same or another Interest Period or be converted to an Advance of another TypePeriod. Subject to the terms of Section 2.72.8, the Borrower may elect from time to time to convert all or any part of an Advance of any Type into any other Type or Types of AdvancesAdvance; provided that any conversion of any LIBOR Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance. The Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each conversion of an Advance to a LIBOR Advance or continuation of a LIBOR Advance not later than 10:00 a.m. (Cleveland Chicago time), ) at least one (1) Business Day, in the case of a conversion into an ABR Advance, or three (3) Business Days, in the case of a conversion into or continuation of a LIBOR Advance, 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 and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Advance, the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
Conversion and Continuation of Outstanding Advances. Base Rate CBR Advances shall continue as Base Rate CBR Advances unless and until such Base Rate CBR Advances are converted into LIBOR Advances. Each LIBOR Advance shall continue as a LIBOR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Advance shall be automatically converted into a Base Rate an CBR Advance unless the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Advance either continue as a LIBOR Advance for the same or another LIBOR Interest Period or be converted to an Advance of another TypePeriod. Subject to the terms of Section 2.7SECTION 2.8, the Borrower may elect from time to time to convert all or any part of an Advance of any Type into any other Type or Types of AdvancesAdvance; provided that any conversion of any LIBOR Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance. The Borrower shall give the Administrative Agent irrevocable notice (a “"Conversion/Continuation Notice”") of each conversion of an Advance to a LIBOR Advance or continuation of a LIBOR Advance not later than 10:00 a.m. (Cleveland Chicago time), ) at least one Business Day, in the case of a conversion into an CBR Advance, or three Business Days, in the case of a conversion into or continuation of a LIBOR Advance, 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 and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Advance, the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
Samples: Revolving Credit Agreement (Duke Weeks Realty Limited Partnership)
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 AdvancesSOFR Advances pursuant to this Section 2.09 or are repaid in accordance with Section 2.07. Each LIBOR SOFR Advance shall continue as a LIBOR SOFR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR SOFR Advance shall be automatically converted into continued as a Base Rate SOFR Advance with an Interest Period of one month, unless (x) such SOFR Advance is or was repaid in accordance with Section 2.07 or (y) the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such LIBOR Interest Period, such LIBOR SOFR Advance either convert to a Base Rate Advance or continue as a LIBOR SOFR Advance for the same or another Interest Period or be converted to an Advance of another TypePeriod. Subject to the terms of Section 2.7Section 2.06, the Borrower may elect from time to time to convert all or any part of an Base Rate Advance into a SOFR Advance. For the avoidance of doubt, no Advance may be converted into or continued as an Advance denominated in a different currency. Notwithstanding anything to the contrary contained in this Section 2.09, when any Type Default has occurred and is continuing (I) no Base Rate Advance may be converted into any other Type or Types a SOFR Advance (except with the consent of Advances; provided that any conversion of any LIBOR the Required Lenders) and (II) no SOFR Advance shall be made on, and only on, the last day of the LIBOR continued other than as a SOFR Loan with an Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advanceone month. The Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit F (a “Conversion/Continuation Notice”) or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), in each case appropriately completed and signed by an Authorized Officer of the Borrower, of each conversion of an a Base Rate Advance to into a LIBOR SOFR Advance, conversion of a SOFR Advance into a Base Rate Advance or continuation of a LIBOR SOFR Advance not later than 10:00 11:00 a.m. (Cleveland New York time), ) at least three (3) Business Days, in the case of a conversion into or continuation of a LIBOR Advance, Days prior to the date of the requested conversion or continuation, specifying:
(ia) the requested date 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; provided, for the avoidance of doubt, that no Advance made in Pounds Sterling may be converted into a Base Rate Advance or SOFR Advance, and
(iiic) the amount and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Advance, the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
Samples: 5 Year Term Loan Credit Agreement (GXO Logistics, Inc.)
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. Each LIBOR Advance shall continue as a LIBOR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Advance shall be automatically converted into a Base Rate an ABR Advance unless the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Advance either continue as a LIBOR Advance for the same or another Interest Period or be converted to an Advance of another TypePeriod. Subject to the terms of Section 2.72.8, the Borrower may elect from time to time to convert ----------- all or any part of an Advance of any Type into any other Type or Types of AdvancesAdvance; provided that any conversion of any LIBOR Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance. The Borrower shall give the Administrative Agent irrevocable notice (a “"Conversion/Continuation Notice”") of each conversion of an Advance to a LIBOR Advance or continuation of a LIBOR Advance not later than 10:00 a.m. noon (Cleveland Chicago time), ) at least one Business Day, in the case of a conversion into an ABR Advance, or three Business Days, in the case of a conversion into or continuation of a LIBOR Advance, 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 convened or continued; and
(iii) the amount and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Advance, the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
Samples: Revolving Credit Agreement (National Golf Properties Inc)
Conversion and Continuation of Outstanding Advances. Base Floating Rate Advances shall continue as Base Floating Rate Advances unless and until such Base Floating Rate Advances are converted into LIBOR Advances. Each LIBOR Advance shall continue as a LIBOR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Advance shall be automatically converted into a Base Floating Rate Advance unless the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Advance either continue as a LIBOR Advance for the same or another Interest Period or be converted to an Advance of another TypeFloating Rate Advance. Subject to the terms of Section 2.72.6, the Borrower may elect from time to time to convert all or any part of an Advance of any Type into any other Type or Types of Advances; provided that any conversion of any LIBOR Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance. Borrower shall give the Administrative Agent irrevocable notice (a “"Conversion/Continuation Notice”") of each conversion conversion/continuation of an Advance to a LIBOR Advance or continuation of a LIBOR Advance not later than 10:00 a.m. (Cleveland Chicago time), ) at least three (3) Business Days, in the case of a conversion into or continuation of a LIBOR Advance, Days prior to the date of the requested conversion into, or continuation, continuation of a LIBOR Advance 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 continuedcontinued (the amount of each Advance shall be subject to the minimum amount and increments set forth in Section 2.6); and
(iii) the amount and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Advance, the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
Samples: Credit Agreement (Developers Diversified Realty Corp)
Conversion and Continuation of Outstanding Advances. Base Rate CBR Advances shall continue as Base Rate CBR Advances unless and until such Base Rate CBR Advances are converted into LIBOR Advances. Each LIBOR Advance shall continue as a LIBOR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Advance shall be automatically converted into a Base Rate CBR Advance unless the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Advance either continue as a an LIBOR Advance for the same or another Interest Period or be converted to an Advance of another TypePeriod. Subject to the terms of Section 2.7, the Borrower may elect from time to time to convert all or any part of an Advance of any Type into any other Type or Types of Advances; provided that any conversion of any LIBOR Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance. The Borrower shall give the Administrative Agent irrevocable notice (a “"Conversion/Continuation Notice”") of each conversion of an Advance to a LIBOR Advance or continuation of a LIBOR Advance not later than 10:00 a.m. (Cleveland Chicago time), ) at least one Business Day, in the case of a conversion into a CBR Advance, or three Business Days, in the case of a conversion into or continuation of a LIBOR Advance, prior to the date of the requested conversion or continuation, specifying:
(i) the requested date 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 and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Advance, the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
Samples: Credit Agreement (Washington Real Estate Investment Trust)
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 AdvancesSOFR Advances pursuant to this Section 2.09 or are repaid in accordance with Section 2.07. Each LIBOR SOFR Advance shall continue as a LIBOR SOFR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR SOFR Advance shall be automatically converted into continued as a Base Rate SOFR Advance with an Interest Period of one month, unless (x) such SOFR Advance is or was repaid in accordance with Section 2.07 or (y) the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such LIBOR Interest Period, such LIBOR SOFR Advance either convert to a Base Rate Advance or continue as a LIBOR SOFR Advance for the same or another Interest Period or be converted to an Advance of another TypePeriod. Subject to the terms of Section 2.7Section 2.06, the Borrower may elect from time to time to convert all or any part of an Base Rate Advance into a SOFR Advance. For the avoidance of doubt, no Advance may be converted into or continued as an Advance denominated in a different currency. Notwithstanding anything to the contrary contained in this Section 2.09, when any Type Default has occurred and is continuing (I) no Base Rate Advance may be converted into any other Type or Types a SOFR Advance (except with the consent of Advances; provided that any conversion of any LIBOR the Required Lenders) and (II) no SOFR Advance shall be made on, and only on, the last day of the LIBOR continued other than as a SOFR Loan with an Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advanceone month. The Borrower shall give the Administrative Agent irrevocable notice substantially in the form of Exhibit F (a “Conversion/Continuation Notice”) or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), in each case appropriately completed and signed by an Authorized Officer of the Borrower, of each conversion of an a Base Rate Advance to into a LIBOR SOFR Advance, conversion of a SOFR Advance into a Base Rate Advance or continuation of a LIBOR SOFR Advance not later than 10:00 11:00 a.m. (Cleveland New York time), ) at least three (3) Business Days, in the case of a conversion into or continuation of a LIBOR Advance, Days prior to the date of the requested conversion or continuation, specifying:
(ia) the requested date date, which shall be a Business Day, of such conversion or continuation;,
(iib) the aggregate amount amount, Tranche and Type of the Advance which is to be converted or continued; provided, for the avoidance of doubt, that no Advance made in Pounds Sterling may be converted into a Base Rate Advance or SOFR Advance, and
(iiic) the amount and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Advance, the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
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. Each LIBOR Advance shall continue as a LIBOR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Advance shall be automatically converted into a Base Rate an ABR Advance unless the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Advance either continue as a LIBOR Advance for the same or another LIBOR Interest Period or be converted to an Advance of another TypePeriod. Subject to the terms of Section 2.72.8, the Borrower may elect from time to time to convert all or any part of an Advance of any Type into any other Type or Types of AdvancesAdvance; provided that any conversion of any LIBOR Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance. The Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each conversion of an Advance to a LIBOR Advance or continuation of a LIBOR Advance not later than 10:00 a.m. (Cleveland Chicago time), ) at least one Business Day, in the case of a conversion into an ABR Advance, or three Business Days, in the case of a conversion into or continuation of a LIBOR Advance, 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 and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Advance, the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
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 Rate Advances. Each LIBOR Rate Advance shall continue as a LIBOR Rate Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Rate Advance shall be automatically converted into a Base Rate Advance unless the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Rate Advance either continue as a LIBOR Rate Advance for the same or another Interest Period or be converted to an Advance of another Type. Subject to the terms of Section 2.72.9, the Borrower may elect from time to time to convert all or any part of an Advance of any Type into any other Type or Types of Advances; provided that any conversion of any LIBOR Rate Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance. The Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each conversion of an Advance to a LIBOR Rate Advance or continuation of a LIBOR Rate Advance not later than 10:00 a.m. (Cleveland time), at least three Business Days, in the case of a conversion into or continuation of a LIBOR Advance, 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 and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Rate Advance, the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
Samples: Credit Agreement (Inland Diversified Real Estate Trust, Inc.)
Conversion and Continuation of Outstanding Advances. Base Rate Prime Advances (other than Swing Line Loans) shall continue as Base Rate Prime Advances unless and until such Base Rate Prime Advances are converted into LIBOR Advances. Each LIBOR Advance shall continue as a LIBOR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Advance shall be automatically converted into a Base Rate Prime Advance unless the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Advance either shall continue as a LIBOR Advance for the same or another LIBOR Interest Period or be converted to an Advance of another TypePeriod. Subject to the terms of Section 2.7, the Borrower may elect from time to time to convert all or any part of an Advance of any Type (other than a Swing Line Loan) into any other Type or Types of AdvancesAdvance; provided that any conversion of any LIBOR Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advancethereto unless Borrower pays the applicable Break-up Fee. The Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each conversion of an Advance to a LIBOR Advance or continuation of a LIBOR Advance not later than 10:00 a.m. (Cleveland Chicago time), ) at least one Business Day, in the case of a conversion into a Prime Advance, or three Business Days, in the case of a conversion into or continuation of a LIBOR Advance, 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 and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Advance, the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
Samples: Unsecured Revolving Credit Agreement (Centerpoint Properties Trust)
Conversion and Continuation of Outstanding Advances. Base Rate CBR Advances shall continue as Base Rate CBR Advances unless and until such Base Rate CBR Advances are converted into LIBOR Advances. Each LIBOR Advance shall continue as a LIBOR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Advance shall be automatically converted into a Base Rate an CBR Advance unless the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Advance either continue as a LIBOR Advance for the same or another Interest Period or be converted to an Advance of another TypePeriod. Subject to the terms of Section 2.7SECTION 2.8, the Borrower may elect from time to time to convert all or any part of an Advance of any Type into any other Type or Types of AdvancesAdvance; provided that any conversion of any LIBOR Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance. The Borrower shall give the Administrative Agent irrevocable notice (a “"Conversion/Continuation Notice”") of each conversion of an Advance to a LIBOR Advance or continuation of a LIBOR Advance not later than 10:00 a.m. (Cleveland Chicago time), ) at least one Business Day, in the case of a conversion into an CBR Advance, or three Business Days, in the case of a conversion into or continuation of a LIBOR Advance, 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 and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Advance, the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
Samples: Revolving Credit Agreement (Duke Weeks Realty Limited Partnership)
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. Each LIBOR Advance shall continue as a LIBOR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Advance shall be automatically converted into a Base Rate an ABR Advance unless the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Advance either continue as a LIBOR Advance for the same or another Interest Period or be converted to an Advance of another TypePeriod. Subject to the terms of Section 2.7, the Borrower may elect from time to time to convert ----------- all or any part of an Advance of any Type into any other Type or Types of AdvancesAdvance; provided that any conversion of any LIBOR Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance. The Borrower shall give the Administrative Agent irrevocable notice (a “"Conversion/Continuation Notice”") ------------------------------ of each conversion of an Advance to a LIBOR Advance or continuation of a LIBOR Advance not later than 10:00 a.m. noon (Cleveland Chicago time), ) at least one Business Day, in the case of a conversion into an ABR Advance, or three Business Days, in the case of a conversion into or continuation of a LIBOR Advance, 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 and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Advance, the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
Conversion and Continuation of Outstanding Advances. Base Floating Rate Advances shall continue as Base Floating Rate Advances unless and until such Base Floating Rate Advances are converted into LIBOR AdvancesEurodollar Advances pursuant to this Section 2.5 or are repaid. Each LIBOR Eurodollar Advance shall continue as a LIBOR Advance Eurodollar Advance, until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Eurodollar Advance shall be automatically converted into a Base Floating Rate Advance unless (x) such Advance is or was repaid or (y) the Borrower or an Additional Borrower, as the case may be, shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Advance either continue as a LIBOR Eurodollar Advance for the same or another Interest Period or be converted to an Advance of another TypePeriod. Subject to the terms of Section 2.72.3, the Borrower or the Additional Borrower, as the case may be, may elect from time to time to convert all or any part of any Advance into an Advance of any Type into any the other Type Type. The Borrower US 719308 or Types of Advances; provided that any conversion of any LIBOR Advance shall be made onthe Additional Borrower, and only onas the case may be, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance. Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each continuation or conversion of an Advance to a LIBOR Advance (other than an automatic continuation or continuation of a LIBOR Advance conversion as provided in this Section 2.5) not later than 10:00 a.m. (Cleveland time), at least three Business Days, the time specified in Section 2.4 for the case of a conversion into or continuation of a LIBOR Advance, prior to the date making of the requested conversion Type of Advance to be continued or continuationconverted into, specifying:
(i) the requested date 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) in the case of conversion of an Advance, the Type of Advance to be converted into;
(iv) the amount and Type(s) of Advance(s) into the Advance which such Advance is to be converted or continued continued; and,
(v) in the case of a conversion into or continuation of a LIBOR Eurodollar Advance, the duration of the LIBOR Interest Period applicable thereto. Each Conversion/Continuation Notice given by the Borrower or the Additional Borrower, as the case may be, shall constitute a representation and warranty by the Borrower or the Additional Borrower, as the case may be, that no Default or Unmatured Default exists.
Appears in 1 contract
Conversion and Continuation of Outstanding Advances. Base Floating Rate Advances shall continue as Base Floating Rate Advances unless and until such Base Floating Rate Advances are converted into LIBOR Rate Advances. Each LIBOR Rate Advance shall continue as a LIBOR Rate Advance until the end of the then applicable LIBOR Interest Period therefortherefore, at which time such LIBOR Rate Advance shall be automatically converted into a Base Floating Rate Advance unless the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Rate Advance either continue as a LIBOR Rate Advance for the same or another Interest Period or be converted to an Advance of another Type. Subject to the terms of Section 2.72.6, the Borrower may elect from time to time to convert all or any part of an Advance of any Type into any other Type or Types of Advances; provided that any conversion of any LIBOR Rate Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance. The Borrower shall give the Administrative Agent irrevocable notice (a “"Conversion/Continuation Notice”") of each conversion of an Advance to a LIBOR Rate Advance or continuation of a LIBOR Rate Advance not later than 10:00 11:00 a.m. (Cleveland time), at least three Business Days, in the case of a conversion into or continuation of a LIBOR Rate Advance, 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 and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Rate Advance, the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
Conversion and Continuation of Outstanding Advances. Base Rate With respect to --------------------------------------------------- the Revolving Loans, ABR Advances shall continue as Base Rate ABR Advances unless and until such Base Rate Advances are converted into LIBOR AdvancesAdvances pursuant to this Section 2.9 or repaid in accordance with Section 2.7. Each LIBOR Advance shall continue as a LIBOR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Advance shall be automatically converted into a Base Rate an ABR Advance unless such LIBOR Advance is or was repaid in accordance with Section 2.7 or Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Advance either continue as a LIBOR Advance for the same or another LIBOR Interest Period or be converted to an Advance of another TypePeriod. Subject to the terms of Section 2.72.6, Borrower may elect from time to time to convert all or any part of an ABR Advance of any Type under the Revolving Loan Commitment into any other Type or Types of Advances; provided that any conversion of any a LIBOR Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance. Borrower shall give the Administrative Agent irrevocable notice (a “"Conversion/Continuation Notice”") of each conversion of an ABR Advance to into a LIBOR Advance or continuation of a LIBOR Advance not later than 10:00 a.m. (Cleveland Indianapolis time), ) at least three (3) Business Days, in the case of a conversion into or continuation of a LIBOR Advance, Days prior to the date of the requested conversion or continuation, specifying:
(ia) the requested date 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 and Type(s) of Advance(s) into which such Advance which is to be converted into or continued and, in the case of a conversion into or continuation of as a LIBOR Advance, Advance and the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
Conversion and Continuation of Outstanding Advances. Base Floating Rate Advances shall continue as Base Floating Rate Advances unless and until such Base Floating Rate Advances are converted into LIBOR Rate Advances. Each LIBOR Rate Advance shall continue as a LIBOR Rate Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Rate Advance shall be automatically converted into a Base Floating Rate Advance unless the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Rate Advance either continue as a LIBOR Rate Advance for the same or another Interest Period or be converted to an Advance of another Type. Advances initially made under Tranche A or Tranche B must continue as Advances under such Tranche and cannot be converted to or combined with Advances under the other Tranche. Subject to the terms of Section 2.7, the Borrower may elect from time to time to convert all or any part of an Advance of any Type into any other Type or Types of Advances; provided that any conversion of any LIBOR Rate Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance. The Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each conversion of an Advance to a LIBOR Rate Advance or continuation of a LIBOR Rate Advance not later than 10:00 11:00 a.m. (Cleveland time), at least three Business Days, in the case of a conversion into or continuation of a LIBOR Rate Advance, 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 and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Rate Advance, the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
Conversion and Continuation of Outstanding Advances. Base Floating Rate Advances shall continue as Base Floating Rate Advances unless and until such Base Floating Rate Advances are converted into LIBOR Advances. Each LIBOR Advance shall continue as a LIBOR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Advance shall be automatically converted into a Base Floating Rate Advance unless the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Advance either continue as a an LIBOR Advance for the same or another Interest Period or be converted to an Advance of another TypePeriod. Subject to the terms of Section 2.7, the Borrower may elect from time to time to convert all or any part of an Advance of any Type into any other Type or Types of Advances; provided that any conversion of any LIBOR Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance. The Borrower shall give the Administrative Agent irrevocable notice (a “"Conversion/Continuation Notice”") of each conversion of an Advance to a LIBOR Advance or continuation of a LIBOR Advance not later than 10:00 a.m. (Cleveland Chicago time), ) at least one Business Day, in the case of a conversion into a Floating Rate Advance, or three Business Days, in the case of a conversion into or continuation of a LIBOR Advance, prior to the date of the requested conversion or continuation, specifying:
(i) the requested date 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 and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Advance, the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
Samples: Credit Agreement (Washington Real Estate Investment Trust)
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 AdvancesAdvances pursuant to this Section 2.15 or are repaid. Each LIBOR Advance shall continue as a LIBOR Advance until the end of the then applicable LIBOR 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 or (y) Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (defined below) requesting that, at the end of such LIBOR Interest Period, such LIBOR Advance either continue as a LIBOR Advance for the same or another Interest Period or be converted to an Advance of another TypePeriod. Subject to the terms of Section 2.7, Borrower may elect from time to time to convert all or any part of an a Base Rate Advance of any Type into any other Type or Types of Advancesa LIBOR Advance; provided that any conversion of any LIBOR each Advance shall be made on, and only on, the last day a minimum aggregate amount of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance$1,000,000 or any larger integral multiple thereof. Borrower shall give the Administrative Agent irrevocable notice (a “"Conversion/Continuation Notice”") of each conversion of an a Base Rate Advance to into a LIBOR Advance or continuation of a LIBOR Advance not later than 10:00 a.m. (Cleveland Chicago time), ) at least three Business Days, in the case of a conversion into or continuation of a LIBOR Advance, Days prior to the date of the requested conversion or continuation, specifying:
(i) : the requested date 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) continued and the amount and Type(s) of Advance(s) into which such Advance which is to be converted into or continued and, in the case of a conversion into or continuation of as a LIBOR Advance, Advance and the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
Conversion and Continuation of Outstanding Advances. Base Rate With respect --------------------------------------------------- to the Revolving Loans, ABR Advances shall continue as Base Rate ABR Advances unless and until such Base Rate Advances are converted into LIBOR AdvancesAdvances pursuant to this Section 2.9 or repaid in accordance with Section 2.7. Each LIBOR Advance shall continue as a LIBOR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Advance shall be automatically converted into a Base Rate an ABR Advance unless such LIBOR Advance is or was repaid in accordance with Section 2.7 or Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Advance either continue as a LIBOR Advance for the same or another LIBOR Interest Period or be converted to an Advance of another TypePeriod. Subject to the terms of Section 2.72.6, Borrower may elect from time to time to convert all or any part of an ABR Advance of any Type under the Revolving Loan Commitment into any other Type or Types of Advances; provided that any conversion of any a LIBOR Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance. Borrower shall give the Administrative Agent irrevocable notice (a “"Conversion/Continuation Notice”") of each conversion of an ABR Advance to into a LIBOR Advance or continuation of a LIBOR Advance not later than 10:00 a.m. (Cleveland Indianapolis time), ) at least three (3) Business Days, in the case of a conversion into or continuation of a LIBOR Advance, Days prior to the date of the requested conversion or continuation, specifying:
(ia) the requested date 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 and Type(s) of Advance(s) into which such Advance which is to be converted into or continued and, in the case of a conversion into or continuation of as a LIBOR Advance, Advance and the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
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. Each LIBOR Advance shall continue as a LIBOR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Advance shall be automatically converted into a Base Rate Advance unless Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Advance either continue as a LIBOR Advance for the same or another Interest Period or be converted to an Advance of another Type. Subject to the terms of Section 2.7, Borrower may elect from time to time to convert all or any part of an Advance of any Type into any other Type or Types of Advances; provided that any conversion of any LIBOR Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and Advance, that a Term B Advance can only be converted into another Type of Term B Advance and that a Term C Advance can only be converted into another Type of Term C Advance. Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each conversion of an Advance to a LIBOR Advance or continuation of a LIBOR Advance not later than 10:00 a.m. (Cleveland time), at least three Business Days, in the case of a conversion into or continuation of a LIBOR Advance, 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 and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Advance, the duration of the LIBOR Interest Period applicable thereto.
6. Article III of the Credit Agreement is amended as of the Effective Date by deleting existing Section 3.2, and replacing it in its entirety by the following:
Appears in 1 contract
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. Each LIBOR Advance shall continue as a LIBOR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Advance shall be automatically converted into a Base Rate ABR Advance unless Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Advance either continue continues as a LIBOR Advance for the same or another Interest Period or be converted to an Advance of another Typerepaid. Subject to the terms of Section 2.72.6, Borrower may elect from time to time to convert all or any part of an Advance of any Type into any other Type or Types of Advances; provided provided, however, that any conversion of any LIBOR Advance shall may be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, and further provided that a Revolving Advance can only be converted into another Type the aggregate number of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B AdvanceLIBOR Advances outstanding at any one time shall not exceed five (5). Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each conversion of an Advance to a LIBOR Advance or continuation of a LIBOR Advance not later than 10:00 a.m. (Cleveland 11:00 a.m., New York time on the day of conversion into an ABR Advance, or 1:00 p.m., New York time), at least three (3) Business Days, in Days prior to the case of a conversion into or continuation of a LIBOR Advance, 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 and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Advance, the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
Samples: Credit Agreement (MDC Holdings Inc)
Conversion and Continuation of Outstanding Advances. Base Floating Rate Advances shall continue as Base Floating Rate Advances unless and until such Base Floating Rate Advances are converted into LIBOR Advances. Each LIBOR Advance shall continue as a LIBOR Advance until i the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Advance shall be automatically converted into a Base Floating Rate Advance unless Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Advance either continue continues as a LIBOR Advance for the same or another Interest Period or be converted to an Advance of another Typerepaid. Subject to the terms of Section 2.72.6, Borrower may elect from time to time to convert all or any part of an Advance of any Type into any other Type or Types of Advances; provided provided, however, that any conversion of any LIBOR Advance shall may be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, and further provided that a Revolving Advance can only be converted into another Type the aggregate number of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B AdvanceLIBOR Advances outstanding at any one time shall not exceed five (5). Borrower shall give the Administrative Agent irrevocable notice (a “"Conversion/Continuation Notice”") of each conversion of an Advance to a LIBOR Advance or continuation of a LIBOR Advance not later than 10:00 a.m. (Cleveland noon, Chicago time), at least one (1) Business Day, in the case of a conversion into a Floating Rate Advance, or three (3) Business Days, in the case of a conversion into or continuation of a LIBOR Advance, 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 and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Advance, the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
Samples: Credit Agreement (MDC Holdings Inc)
Conversion and Continuation of Outstanding Advances. Base Rate CBR Advances shall continue as Base Rate CBR Advances unless and until such Base Rate CBR Advances are converted into LIBOR Advances. Each LIBOR Advance shall continue as a LIBOR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Advance shall be automatically converted into a Base Rate an CBR Advance unless the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Advance either continue as a an LIBOR Advance for the same or another Interest Period or be converted to an Advance of another TypePeriod. Subject to the terms of Section 2.72.9, the Borrower may elect from time to time to convert all or any part of an Advance of any Type into any other Type or Types of Advances; provided that any conversion of any LIBOR Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance. The Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/"Conversion/ Continuation Notice”") of each conversion of an Advance to a LIBOR Advance or continuation of a LIBOR Advance not later than 10:00 a.m. (Cleveland Chicago time), ) at least one Business Day, in the case of a conversion into an CBR Advance, or three Business Days, in the case of a conversion into or continuation of a LIBOR Advance, 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 and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Advance, the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
Samples: Unsecured Revolving Credit Agreement (Susa Partnership Lp)
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. Each LIBOR Advance shall continue as a LIBOR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Advance shall be automatically converted into a Base Rate an ABR Advance unless the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Advance either continue as a LIBOR Advance for the same or another Interest Period or be converted to an Advance of another TypePeriod. Subject to the terms of Section 2.72.8, the Borrower may elect from time to time to convert all or any part of an Advance of any Type into any other Type or Types of AdvancesAdvance; provided that any conversion of any LIBOR Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance. The Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each conversion of an Advance to a LIBOR Advance or continuation of a LIBOR Advance not later than 10:00 a.m. (Cleveland Chicago time), ) at least one (1) Business Day, in the case of a conversion into an ABR Advance, or three (3) Business Days, in the case of a conversion into or continuation of a LIBOR Advance, 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 amount, Class and Type of the Advance which is to be converted or continued; and
(iii) the amount amount, Class and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Advance, the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Duke Realty Limited Partnership/)
Conversion and Continuation of Outstanding Advances. Base Floating Rate Advances shall continue as Base Floating Rate Advances unless and until such Base Floating Rate Advances are converted into LIBOR Rate Advances. Each LIBOR Rate Advance shall continue as a LIBOR Rate Advance until the end of the then applicable LIBOR Interest Period therefortherefore, at which time such LIBOR Rate Advance shall be automatically converted into a Base Floating Rate Advance unless the Borrower shall have given the Administrative Agent a “Conversion/Continuation Notice Notice” requesting that, at the end of such LIBOR Interest Period, such LIBOR Rate Advance either continue as a LIBOR Rate Advance for the same or another Interest Period or be converted to an Advance of another Type. Subject to the terms of Section 2.7, the Borrower may elect from time to time to convert all or any part of an a Floating Rate Advance of any Type into any other Type or Types of Advancesa LIBOR Rate Advance and vice versa; provided that any conversion of any LIBOR Rate Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance. The Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each conversion of an Advance to a LIBOR Rate Advance or continuation of a LIBOR Rate Advance not later than 10:00 a.m. (Cleveland Cleveland, Ohio time), at least three Business Days, in the case of a conversion into or continuation of a LIBOR Rate Advance, 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 and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Rate Advance, the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
Samples: Credit Agreement (Retail Properties of America, Inc.)
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. Each LIBOR Advance shall continue as a LIBOR Advance until the end of the then applicable LIBOR Interest Period therefor, at which time such LIBOR Advance shall be automatically converted into a Base Rate Advance unless Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such LIBOR Interest Period, such LIBOR Advance either continue as a LIBOR Advance for the same or another Interest Period or be converted to an Advance of another Type. Subject to the terms of Section 2.7, Borrower may elect from time to time to convert all or any part of an Advance of any Type into any other Type or Types of Advances; provided that any conversion of any LIBOR Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto, that a Revolving Advance can only be converted into another Type of Revolving Advance, that a Term A Advance can only be converted into another Type of Term A Advance and that a Term B Advance can only be converted into another Type of Term B Advance. Borrower shall give the Administrative Agent irrevocable notice (a “Conversion/Continuation Notice”) of each conversion of an Advance to a LIBOR Advance or continuation of a LIBOR Advance not later than 10:00 a.m. (Cleveland time), at least three Business Days, in the case of a conversion into or continuation of a LIBOR Advance, 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 and Type(s) of Advance(s) into which such Advance is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Advance, the duration of the LIBOR Interest Period applicable thereto.
Appears in 1 contract
Samples: Senior Secured Term Loan Agreement (Terreno Realty Corp)