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

Conversion and Continuation of Outstanding Loans. Alternate Base Rate Loans shall continue as Alternate Base Rate Loans unless and until such Alternate Base Rate Loans are converted into Eurocurrency Loans pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07. Each Eurocurrency Loan shall continue as a Eurocurrency Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Loan shall be automatically converted into an Alternate Base Rate Loan, unless (x) such Eurocurrency Loan 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 Interest Period, such Eurocurrency Loan continue as a Eurocurrency Loan for the same or another Interest Period. The Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan into a Eurocurrency Loan. Notwithstanding anything to the contrary contained in this Section 2.09, (except with the consent of the Required Tranche Lenders with respect to the relevant Tranche) when any Default has occurred and is continuing each Loan shall be continued as a Loan with an Interest Period not longer than one month. The Borrower shall give the Administrative Agent notice by a notice substantially in the form of Exhibit G 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 (a “Conversion/Continuation Notice”) of each conversion of an Alternate Base Rate Loan into a Eurocurrency Loan or a continuation of a Eurocurrency Loan, with each such Conversion/Continuation Notice to be received not later than 11:00 a.m. (New York time) at least three (3) Business Days prior to the date of the requested conversion or continuation, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount and Type of the Loan which is to be converted or continued as a Eurocurrency Loan, and (c) the duration of the Interest Period applicable thereto.

Appears in 4 contracts

Samples: Term Loan Credit Agreement (Walgreens Boots Alliance, Inc.), Term Loan Credit Agreement (Walgreens Boots Alliance, Inc.), Term Loan Credit Agreement (Walgreens Boots Alliance, Inc.)

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Conversion and Continuation of Outstanding Loans. (i) Each Alternate Base Rate Loans Loan shall continue as an Alternate Base Rate Loans Loan unless and until such Alternate Base Rate Loans are Loan is either converted into Eurocurrency Loans pursuant to a Eurodollar Base Rate Loan in accordance with this Section 2.09 or are prepaid 2.2.4 or repaid in accordance with Section 2.072.7. Each Eurocurrency Eurodollar Base Rate Loan shall continue as a Eurocurrency Eurodollar Base Rate Loan until the end of the then applicable Eurodollar Interest Period therefor, at which time such Eurocurrency Eurodollar Base Rate Loan shall be automatically converted into an Alternate Base Rate Loan, Loan unless (x) such Eurocurrency Eurodollar Base Rate Loan is or was repaid in accordance with Section 2.07 2.8 or (y) the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Eurodollar Interest Period, such Eurocurrency Eurodollar Base Rate Loan continue as a Eurocurrency Eurodollar Base Rate Loan for the same or another Eurodollar Interest Period. The Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan into a Eurocurrency Eurodollar Base Rate Loan. Notwithstanding anything to the contrary contained in this Section 2.09, (except with the consent of the Required Tranche Lenders with respect to the relevant Tranche) when any Default has occurred and is continuing each Loan shall be continued as a Loan with an Interest Period not longer than one month. The Borrower shall give the Administrative Agent irrevocable notice by a notice substantially in the form of Exhibit G 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 2.2.4 (a “Conversion/Continuation Notice”) of each conversion of an Alternate Base Rate Loan into a Eurocurrency Loan Eurodollar Base Rate Loan, or a continuation of a Eurocurrency Eurodollar Base Rate Loan, with each such Conversion/Continuation Notice to be received not later than 11:00 a.m. (New York time) at least three (3) Business Days prior to the date of the requested conversion or continuation, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount and Type of the Ratable Loan which is to be converted or continued, and (c) the amount of such Ratable Loan(s) which is to be converted or continued as a Eurocurrency Loan, and (c) Eurodollar Base Rate Loan and the duration of the Eurodollar Interest Period applicable thereto. Upon receipt of any such notice, the Administrative Agent shall promptly notify each Lender of (x) the contents thereof, (y) the amount and Type and, in the case of Eurodollar Base Rate Loans, the last day of the applicable Interest Period of each Ratable Loan to be converted or continued by such Lender and (z) the amount and Type or Types of Ratable Loans into which such Ratable Loans are to be converted or as which such Ratable Loan are to be continued. (ii) Notwithstanding anything to the contrary contained in this Section 2.2.4, during an Event of Default, the Administrative Agent may notify the Borrower that Ratable Loans may only be converted into or continued as Ratable Loans of certain specified Types. (iii) Ratable Loans may not be converted into Competitive Bid Loans, and Competitive Bid Loans may not be converted, except as required under Section 3.3, or continued.

Appears in 4 contracts

Samples: Credit Agreement (Washington Gas Light Co), Credit Agreement (Washington Gas Light Co), Credit Agreement (WGL Holdings Inc)

Conversion and Continuation of Outstanding Loans. Alternate Base Floating Rate Loans shall continue as Alternate Base Floating Rate Loans unless and until such Alternate Base Floating Rate Loans are converted into Eurocurrency Loans pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07Fixed Rate Loans. Each Eurocurrency Fixed Rate Loan shall continue as a Eurocurrency Fixed Rate Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Fixed Rate Loan shall be automatically converted into an Alternate Base a Floating Rate Loan, Loan unless (x) such Eurocurrency Loan 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 Interest Period, such Eurocurrency Fixed Rate Loan either continue as a Eurocurrency Fixed Rate Loan for the same or another Interest PeriodPeriod or be converted to a Loan of another Type. The Borrower may elect from time to time to convert all or any part of an Alternate Base Loan of any Type into any other Type or Types of Loan; provided that any conversion of any Fixed Rate Loan into a Eurocurrency Loan. Notwithstanding anything to the contrary contained in this Section 2.09, (except with the consent of the Required Tranche Lenders with respect to the relevant Tranche) when any Default has occurred and is continuing each Loan shall be continued as a Loan with an made on, and only on, the last day of the Interest Period not longer than one monthapplicable thereto. The Borrower shall give the Administrative Agent irrevocable notice by a notice substantially in the form of Exhibit G 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 (a “Conversion/Continuation Notice”) of each conversion of an Alternate Base a Loan to a Fixed Rate Loan into a Eurocurrency Loan or a continuation of a Eurocurrency Loan, with each such Conversion/Continuation Notice to be received Fixed Rate Loan not later than 11:00 10:00 a.m. (New York Cleveland time) ), at least three (3) Business Days Days, in the case of a conversion into or continuation of a LIBOR Loan, prior to the date of the requested conversion or continuation, specifying: (ai) the requested date, date which shall be a Business Day, of such conversion or continuation,; (bii) the aggregate amount and Type of the Loan which is to be converted or continued as a Eurocurrency Loan, continued; and (ciii) the amount and Type(s) of Loan(s) into which such Loan is to be converted or continued and, in the case of a conversion into or continuation of a Fixed Rate Loan, the duration of the Interest Period applicable thereto.

Appears in 2 contracts

Samples: Term Loan Agreement (Inland Real Estate Corp), Term Loan Agreement (Inland Real Estate Corp)

Conversion and Continuation of Outstanding Loans. Alternate Base Rate Loans shall continue as Alternate Base Rate Loans unless and until such Alternate Base Rate Loans are converted into Eurocurrency Loans pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07. Each Eurocurrency Loan shall continue as a Eurocurrency Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Loan shall be automatically converted into an Alternate Base Rate Loan, unless (x) such Eurocurrency Loan 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 Interest Period, such Eurocurrency Loan continue as a Eurocurrency Loan for the same or another Interest Period. The Subject to the terms of Section 2.06, the Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan into a Eurocurrency Loan. Notwithstanding anything to the contrary contained in this Section 2.09, no Loan may be converted or continued as a Eurocurrency Loan (except with the consent of the Required Tranche Lenders with respect to the relevant TrancheLenders) when any Default has occurred and is continuing each Loan shall be continued as a Loan with an Interest Period not longer than one monthcontinuing. The Borrower shall give the Administrative Agent notice by a notice substantially in the form of Exhibit G 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 (a “Conversion/Continuation Notice”) Borrower, of each conversion of an Alternate Base Rate Loan into a Eurocurrency Loan or a continuation of a Eurocurrency Loan, with each such Conversion/Continuation Notice to be received Loan not later than 11:00 a.m. (New York Pacific time) at least three (3) Business Days prior to the date of the requested conversion or continuation, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount and Type of the Loan which is to be converted or continued as a Eurocurrency Loan, and (c) the duration of the Interest Period applicable thereto.

Appears in 2 contracts

Samples: Credit Agreement (Salesforce Com Inc), Credit Agreement (Salesforce Com Inc)

Conversion and Continuation of Outstanding Loans. Alternate Base Floating Rate Loans shall continue as Alternate Base Floating Rate Loans unless and until such Alternate Base Floating Rate Loans are either converted into Eurocurrency Eurodollar Loans pursuant to or LIBOR Market Index Rate Loans in accordance with this Section 2.09 2.2.4 or are prepaid or repaid in accordance with Section 2.072.6. Each Eurocurrency Eurodollar Loan shall continue as a Eurocurrency Eurodollar Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Eurodollar Loan shall be automatically converted into an Alternate Base a Floating Rate Loan, Loan unless (x) such Eurocurrency Eurodollar Loan is or was repaid in accordance with Section 2.07 2.6 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 Eurocurrency Eurodollar Loan continue as a Eurocurrency Eurodollar Loan for the same or another Interest Period. The LIBOR Market Index Rate Loans shall continue as LIBOR Market Index Rate Loans until they are either converted to Floating Rate Loans in accordance with this Section 2.2.4 or are repaid in accordance with Section 2.6 or 2.18. Subject to Section 2.5, the Borrower may elect from time to time to convert (i) all or any part of an Alternate Base a Floating Rate Loan (other than Swingline Loans) into a Eurodollar Loan, (ii) convert any Swingline Loan that is a Floating Rate Loan into a Eurocurrency LIBOR Market Index Rate Loan or (iii) convert any LIBOR Market Index Rate Loan into a Floating Rate Loan. Notwithstanding anything to For the contrary contained in this Section 2.09avoidance of doubt, (except with the consent only Swingline Loans may be comprised of the Required Tranche Lenders with respect to the relevant Tranche) when any Default has occurred and is continuing each Loan shall be continued as a Loan with an Interest Period not longer than one monthLIBOR Market Index Rate Loans. The Borrower shall give the Administrative Agent irrevocable notice by a notice substantially in the form of Exhibit G 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 C (a “Conversion/Continuation Notice”) of with respect to each (A) conversion of an Alternate Base a Floating Rate Loan into a Eurocurrency Eurodollar Loan or LIBOR Market Index Rate Loan, (B) conversion of a LIBOR Market Index Rate Loan into a Floating Rate Loan or (C) continuation of a Eurocurrency Eurodollar Loan, with each such Conversion/Continuation Notice to be received not later than 11:00 a.m. 2:00 p.m. (New York time) at least three (3) Business Days prior to the date of the requested conversion or continuation, specifying: (ai) the requested date, which shall be a Business Day, of such conversion or continuation,; (bii) the aggregate amount and Type of the Revolving Loan or Swingline Loan which is to be converted or continued as a Eurocurrency Loanand, if applicable, the Type of Loan to which such Revolving Loan or Swingline Loan is to be converted; and (ciii) if any Loan is to be converted to a Eurodollar Loan or continued as a Eurodollar Loan, the duration of the Interest Period applicable thereto.

Appears in 2 contracts

Samples: Credit Agreement (Puget Sound Energy Inc), Credit Agreement (Puget Sound Energy Inc)

Conversion and Continuation of Outstanding Loans. Alternate Base Rate Loans shall continue as Alternate Base Rate Loans unless and until such Alternate Base Rate Loans are converted into Eurocurrency Loans pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07. Each Eurocurrency Loan shall continue as a Eurocurrency Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Loan shall be automatically converted into an Alternate Base Rate Loan, Loan unless (x) such Eurocurrency Loan 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 Interest Period, such Eurocurrency Loan Loans continue as a Eurocurrency Loan Loans for the same or another Interest Period. The Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan Loans into a Eurocurrency Loan. Notwithstanding anything to the contrary contained in this Section 2.09, (except with the consent of the Required Tranche Lenders with respect to the relevant TrancheLenders) when any Default has occurred and is continuing each Loan shall be continued as a Loan with an Interest Period not longer than one month. The Borrower shall give the Administrative Agent notice by a notice substantially in the form of Exhibit G 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 (a “Conversion/Continuation Notice”) of each conversion of an Alternate Base Rate Loan Loans into a Eurocurrency Loan Loans or a continuation of a Eurocurrency Loan, with each such Conversion/Continuation Notice to be received Loan not later than 11:00 a.m. (New York time) at least three (3) Business Days prior to the date of the requested conversion or continuation, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount and Type of the Loan which is to be converted or continued as a Eurocurrency Loan, and (c) the duration of the Interest Period applicable thereto.

Appears in 2 contracts

Samples: Backstop Bridge Term Loan Credit Agreement (Walgreens Boots Alliance, Inc.), Bridge Term Loan Credit Agreement (Walgreens Boots Alliance, Inc.)

Conversion and Continuation of Outstanding Loans. Alternate (i) Each Base Rate Loans Loan shall continue as Alternate a Base Rate Loans Loan unless and until such Alternate Base Rate Loans are Loan is either converted into Eurocurrency Loans pursuant to a LIBOR Rate Loan in accordance with this Section 2.09 or are prepaid 2.2.7 or repaid in accordance with Section 2.072.5. Each Eurocurrency LIBOR Rate Loan shall continue as a Eurocurrency LIBOR Rate Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency LIBOR Rate Loan shall be automatically converted into an Alternate a Base Rate Loan, Loan unless (x) such Eurocurrency Loan 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) in the manner set forth below requesting that, at the end of such Interest Period, such Eurocurrency LIBOR Rate Loan continue as a Eurocurrency LIBOR Rate Loan for the same or another Interest Period. The Borrower may elect from time to time to convert all or any part of an Alternate a Base Rate Loan into a Eurocurrency LIBOR Rate Loan. Notwithstanding anything to the contrary contained in this Section 2.09, (except with the consent of the Required Tranche Lenders with respect to the relevant Tranche) when any Default has occurred and is continuing each Loan shall be continued as a Loan with an Interest Period not longer than one month. The Borrower shall give the Administrative Agent irrevocable notice by a notice substantially in the form of Exhibit G 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 2.2.7 (a “Conversion/Continuation Notice”) of each conversion of an Alternate a Base Rate Loan into a Eurocurrency Loan LIBOR Rate Loan, or a continuation of a Eurocurrency LIBOR Rate Loan, with each such Conversion/Continuation Notice to be received not later than 11:00 a.m. (New York time) at least three (3) Business Days prior to the date of the requested conversion or continuation, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount and Type of the Loan which is to be converted or continued as a Eurocurrency Loancontinued, and (c) the amount of such Loan(s) which is to be converted or continued as a LIBOR Rate Loan and the duration of the Interest Period applicable thereto. Each conversion of a LIBOR Rate Loan into a Base Rate Loan shall involve a minimum amount of $3,000,000 (and a whole multiple of $1,000,000, if in excess thereof). Each conversion of a Base Rate Loan into a LIBOR Rate Loan shall involve a minimum amount of $5,000,000 (and a whole multiple of $1,000,000 if in excess thereof). No partial conversion of LIBOR Rate Loans made pursuant to a single Borrowing Notice shall reduce the outstanding principal amount of such LIBOR Rate Loans to less than $5,000,000 (or to any greater amount not a whole multiple of $1,000,000 in excess thereof). Except as otherwise provided in Section 2.18.6, LIBOR Rate Loans may be converted into Base Rate Loans only on the last day of the Interest Period Applicable thereto (and in any event, if a LIBOR Rate Loan is converted into a Base Rate Loan on any day other than the last day of the Interest Period applicable thereto, the Borrower will pay, upon such conversion, all amounts required under Section 2.18.1 to be paid as a consequence thereof). Upon receipt of any such notice, the Administrative Agent shall promptly notify each Lender of (x) the contents thereof, (y) the amount and Type and, in the case of LIBOR Rate Loans, the last day of the applicable Interest Period of each Loan to be converted or continued by such Lender and (z) the amount and Type or Types of Loans into which such Loans are to be converted or as which such Loan are to be continued. (ii) Notwithstanding anything to the contrary contained in this Section 2.2.7, during an Event of Default, the Administrative Agent may notify the Borrower that Loans may only be converted into or continued as Loans of certain specified Types.

Appears in 2 contracts

Samples: Credit Agreement (WGL Holdings Inc), Credit Agreement (WGL Holdings Inc)

Conversion and Continuation of Outstanding Loans. Alternate Base Rate Loans shall continue as Alternate Base Rate Loans unless and until such Alternate Base Rate Loans are converted into Eurocurrency SOFR Rate Loans pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07. Swing Line Loans shall continue bearing interest based on the Adjusted Daily Simple SOFR Rate until such Swing Line Loans are prepaid or repaid in accordance with Section 2.07 (and, for the avoidance of doubt, Swing Line Loans may not be converted into Alternate Base Rate Loans or SOFR Rate Loans). Each Eurocurrency Term Rate Loan (for the purposes of this Section 2.09, in each case, other than a Swing Line Loan) shall continue as a Eurocurrency Term Rate Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Term Rate Loan shall be automatically converted into an Alternate Base continued as a Term Rate Loan in its original currency with the shortest Interest Period available at such time for such Term Rate Loan, unless (x) such Eurocurrency Term Rate Loan is or was repaid in accordance with Section ‎Section 2.07 or (y) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Term Rate Loan continue as a Eurocurrency Term Rate Loan for the same or another Interest Period. The Each Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan into a Eurocurrency SOFR Rate Loan. No Loan may be converted into or continued as a Loan denominated in a different currency, but instead must be prepaid in the original currency of such Loan and reborrowed in the other currency, in each case other than as expressly provided for under this Agreement. Notwithstanding anything to the contrary contained in this Section 2.09, ‎Section 2.09 (except with the consent of the Required Tranche Lenders with respect to the relevant TrancheLenders) when any Default has occurred and is continuing each Term Rate Loan shall be continued as a Loan in its original currency with an Interest Period not longer than one month. The applicable Borrower shall give the Administrative Agent notice by a notice substantially in the form of Exhibit G E 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 applicable Borrower (a “Conversion/Continuation Notice”) of each conversion of an Alternate Base Rate Loan into a Eurocurrency SOFR Rate Loan or a continuation of a Eurocurrency Term Rate Loan, with each such Conversion/Continuation Notice to be received not later than 11:00 a.m. (New York time) at least two (2) Business Days, in the case of any Loans denominated in Dollars, and at least three (3) Business Days Days, in the case of any Loans denominated in a Foreign Currency, prior to the date of the requested conversion or continuation, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount amount, Type and Type currency of the Loan which is to be converted or continued as a Eurocurrency Loancontinued, and (c) the duration of the Interest Period applicable thereto.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Walgreens Boots Alliance, Inc.), Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)

Conversion and Continuation of Outstanding Loans. Alternate Base Rate Loans shall continue as Alternate Base Rate Loans unless and until such Alternate Base Rate Loans are converted into Eurocurrency Loans pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07. Swing Line Loans shall continue bearing interest based on the LIBOR Daily Floating Rate until such Swing Line Loans are prepaid or repaid in accordance with Section 2.07 (and, for the avoidance of doubt, Swing Line Loans may not be converted into Alternate Base Rate Loans or Eurocurrency Loans). Each Eurocurrency Loan shall continue as a Eurocurrency Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Loan shall be automatically converted into an Alternate Base Rate LoanLoan (provided, that in the case of a Eurocurrency Loan denominated in a Foreign Currency, such Eurocurrency Loan shall be continued as a Eurocurrency Loan in its original currency with an Interest Period of one month), unless (x) such Eurocurrency Loan is or was repaid in accordance with Section 2.07 or (y) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Loan continue as a Eurocurrency Loan for the same or another Interest Period. The Each Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan into a Eurocurrency LoanLoan of the same Tranche. No Revolving Loan may be converted into or continued as a Revolving Loan denominated in a different currency, but instead must be prepaid in the original currency of such Revolving Loan and reborrowed in the other currency. Notwithstanding anything to the contrary contained in this Section 2.09, 2.09 (except with the consent of the Required Tranche Lenders with respect to the relevant Tranche) when any Default has occurred and is continuing each Eurocurrency Loan shall be continued as a Revolving Loan in its original currency with an Interest Period not longer than one month. The applicable Borrower shall give the Administrative Agent notice by a notice substantially in the form of Exhibit G E 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 applicable Borrower (a “Conversion/Continuation Notice”) of each conversion of an Alternate Base Rate Loan into a Eurocurrency Loan or a continuation of a Eurocurrency Loan, with each such Conversion/Continuation Notice to be received not later than 11:00 a.m. (New York time) at least three two (32) Business Days Days, in the case of any Loans denominated in Dollars, and at least four (4) Business Days, in the case of any Eurocurrency Loans denominated in a Foreign Currency, prior to the date of the requested conversion or continuation, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount amount, Type and Type currency of the Revolving Loan which is to be converted or continued as a Eurocurrency Loan and whether such Revolving Loan is a 364-Day Tranche Loan or a 18-Month Tranche Loan (which, for the avoidance of doubt, must be the same as the current Tranche of such Loan), and (c) the duration of the Interest Period applicable thereto.

Appears in 1 contract

Samples: Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)

Conversion and Continuation of Outstanding Loans. Alternate Base Rate Loans shall continue as Alternate Base Rate Loans unless and until such Alternate Base Rate Loans are converted into Eurocurrency Loans pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07. Each Eurocurrency Loan shall continue as a Eurocurrency Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Loan shall be automatically converted into an Alternate Base Rate LoanLoan (provided, that in the case of a Eurocurrency Loan denominated in a Foreign Currency, such Eurocurrency Loan shall be continued as a Eurocurrency Loan in its original currency with an Interest Period of one month), unless (x) such Eurocurrency Loan 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 Interest Period, such Eurocurrency Loan continue as a Eurocurrency Loan for the same or another Interest Period. The Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan into a Eurocurrency Loan. No Loan may be converted into or continued as a Loan denominated in a different currency, but instead must be prepaid in the original currency of such Loan and reborrowed in the other currency. Notwithstanding anything to the contrary contained in this Section 2.09, 2.09 (except with the consent of the Required Tranche Lenders with respect to the relevant TrancheLenders) when any Default has occurred and is continuing each Eurocurrency Loan shall be continued as a Loan in its original currency with an Interest Period not longer than one month. The Borrower shall give the Administrative Agent notice by a notice substantially in the form of Exhibit G E 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 (a “Conversion/Continuation Notice”) of each conversion of an Alternate Base Rate Loan into a Eurocurrency Loan or a continuation of a Eurocurrency Loan, with each such Conversion/Continuation Notice to be received not later than 11:00 a.m. (New York time) at least three two (32) Business Days Days, in the case of any Loans denominated in Dollars, and at least four (4) Business Days, in the case of any Eurocurrency Loans denominated in a Foreign Currency, prior to the date of the requested conversion or continuation, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount and Type of the Loan which is to be converted or continued as a Eurocurrency Loan, and (c) the duration of the Interest Period applicable thereto.

Appears in 1 contract

Samples: 364 Day Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)

Conversion and Continuation of Outstanding Loans. Alternate Base Rate Loans shall continue as Alternate Base Rate Loans unless and until such Alternate Base Rate Loans are converted into Eurocurrency SOFR Rate Loans pursuant to this Section 2.09 2.08 or are prepaid or repaid in accordance with Section 2.07. Each Eurocurrency SOFR Rate Loan shall continue as a Eurocurrency SOFR Rate Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency SOFR Rate Loan shall be automatically converted into an Alternate Base continued as a SOFR Rate LoanLoan with the same Interest Period, unless (x) such Eurocurrency SOFR Rate Loan 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 Interest Period, such Eurocurrency SOFR Rate Loan be converted to an Alternate Base Rate Loan or continue as a Eurocurrency SOFR Rate Loan for the same or another Interest Period. The Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan into a Eurocurrency SOFR Rate Loan. Notwithstanding anything to the contrary contained in this Section 2.092.08, (except with the consent of the Required Tranche Lenders with respect to the relevant TrancheLenders) when any Default has occurred and is continuing each Term SOFR Loan shall be continued as a Loan with an Interest Period not longer than one month. The Borrower shall give the Administrative Agent notice by a notice substantially in the form of Exhibit G E 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 (a “Conversion/Continuation Notice”) of each conversion of an Alternate Base Rate Loan into a Eurocurrency SOFR Rate Loan or a continuation of a Eurocurrency SOFR Rate Loan, with each such Conversion/Continuation Notice to be received not later than 11:00 a.m. (New York time) at least three two (32) Business Days prior to the date of the requested conversion or continuation, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount and Type of the Loan which is to be converted or continued as a Eurocurrency SOFR Rate Loan, and (c) the duration of the Interest Period applicable thereto.

Appears in 1 contract

Samples: Delayed Draw Term Loan Credit Agreement (Walgreens Boots Alliance, Inc.)

Conversion and Continuation of Outstanding Loans. Alternate Base Rate Loans shall continue as Alternate Base Rate Loans unless and until such Alternate Base Rate Loans are converted into Eurocurrency Loans pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07. Each Eurocurrency Loan shall continue as a Eurocurrency Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Loan shall be automatically converted into an Alternate Base Rate Loan, unless (x) such Eurocurrency Loan 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 Interest Period, such Eurocurrency Loan continue as a Eurocurrency Loan for the same or another Interest Period. The Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan into a Eurocurrency Loan. Notwithstanding anything to the contrary contained in this Section 2.09, (except with the consent of the Required Tranche Lenders with respect to the relevant TrancheLenders) when any Default has occurred and is continuing each Eurocurrency Loan shall be continued as a Loan with an Interest Period not longer than one month. The Borrower shall give the Administrative Agent notice by a notice substantially in the form of Exhibit G E 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 (a “Conversion/Continuation Notice”) of each conversion of an Alternate Base Rate Loan into a Eurocurrency Loan or a continuation of a Eurocurrency Loan, with each such Conversion/Continuation Notice to be received not later than (i) in the event that UniCredit Bank AG, New York Branch is the sole Lender under the Revolving Facility on the date of delivery of the applicable Conversion/Continuation Notice, 11:00 a.m. (New York time) at least three two (32) Business Days prior to the date of the requested conversion or continuation and (ii) in the event more than one Person is a Lender under the Revolving Facility on the date of delivery of the applicable Conversion/Continuation Notice, with the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) 11:00 a.m. (New York time) at least two (2) Business Days prior to the date of the requested conversion or continuation, but in no event shall such notice period be longer than three (3) Business Days, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount and Type of the Loan which is to be converted or continued as a Eurocurrency Loan, and (c) the duration of the Interest Period applicable thereto.

Appears in 1 contract

Samples: Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)

Conversion and Continuation of Outstanding Loans. Alternate Base Rate Loans shall continue as Alternate Base Rate Loans unless and until such Alternate Base Rate Loans are converted into Eurocurrency Loans pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07. LIBOR Daily Floating Rate Loans shall continue as LIBOR Daily Floating Rate Loans unless and until such LIBOR Daily Floating Rate Loans are converted into Alternate Base Rate Loans or Eurocurrency Loans (other than LIBOR Daily Floating Rate Loans) pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07. Each Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan) shall continue as a Eurocurrency Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Loan shall be automatically converted into an Alternate Base Rate Loan, unless (x) such Eurocurrency Loan 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 Interest Period, such Eurocurrency Loan continue as a Eurocurrency Loan for the same or another Interest Period. The Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan into a Eurocurrency Loan or all or any part of a LIBOR Daily Floating Rate Loan into an Alternate Base Rate Loan or a Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan). Notwithstanding anything to the contrary contained in this Section 2.09, (except with the consent of the Required Tranche Lenders with respect to the relevant TrancheLenders) when any Default has occurred and is continuing each Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan) shall be continued as a Loan with an Interest Period not longer than one month. The Borrower shall give the Administrative Agent notice by a notice substantially in the form of Exhibit G E 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 (a “Conversion/Continuation Notice”) of each conversion of an Alternate Base Rate Loan into a Eurocurrency Loan, a LIBOR Daily Floating Rate Loan into a Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan), a conversion of a LIBOR Daily Floating Rate Loan into a Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan) or a continuation of a Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan), with each such Conversion/Continuation Notice to be received not later than (i) in the event that Bank of America, N.A. is the sole Lender under the Revolving Facility on the date of delivery of the applicable Conversion/Continuation Notice, 11:00 a.m. (New York time) at least three two (32) Business Days prior to the date of the requested conversion or continuation and (ii) in the event more than one Person is a Lender under the Revolving Facility on the date of delivery of the applicable Conversion/Continuation Notice, with the consent of the Administrative Agent (such consent not the unreasonably withheld or delayed) 11:00 a.m. (New York time) at least two (2) Business Days prior to the date of the requested conversion or continuation, but in no event shall such notice period be longer than three (3) Business Days, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount and Type (including whether such Loan is a LIBOR Daily Floating Rate Loan) of the Loan which is to be converted or continued as a Eurocurrency Loan, and (c) other than with respect to LIBOR Daily Floating Rate Loans, the duration of the Interest Period applicable thereto.

Appears in 1 contract

Samples: Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)

Conversion and Continuation of Outstanding Loans. Alternate (i) Each Base Rate Loans Loan shall continue as Alternate a Base Rate Loans Loan unless and until such Alternate Base Rate Loans are Loan is either converted into Eurocurrency Loans pursuant to a LIBOR Rate Loan in accordance with this Section 2.09 or are prepaid 2.2.3 or repaid in accordance with Section 2.072.5. Each Eurocurrency LIBOR Rate Loan shall continue as a Eurocurrency LIBOR Rate Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency LIBOR Rate Loan shall be automatically converted into an Alternate a Base Rate Loan, Loan unless (x) such Eurocurrency Loan 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) in the manner set forth below requesting that, at the end of such Interest Period, such Eurocurrency LIBOR Rate Loan continue as a Eurocurrency LIBOR Rate Loan for the same or another Interest Period. The Borrower may elect from time to time to convert all or any part of an Alternate a Base Rate Loan into a Eurocurrency LIBOR Rate Loan. Notwithstanding anything to the contrary contained in this Section 2.09, (except with the consent of the Required Tranche Lenders with respect to the relevant Tranche) when any Default has occurred and is continuing each Loan shall be continued as a Loan with an Interest Period not longer than one month. The Borrower shall give the Administrative Agent irrevocable notice by a notice substantially in the form of Exhibit G 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 2.2.3 (a “Conversion/Continuation Notice”) of each conversion of an Alternate a Base Rate Loan into a Eurocurrency Loan LIBOR Rate Loan, or a continuation of a Eurocurrency LIBOR Rate Loan, with each such Conversion/Continuation Notice to be received not later than 11:00 a.m. (New York time) at least three (3) Business Days prior to the date of the requested conversion or continuation, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount and Type of the Loan which is to be converted or continued as a Eurocurrency Loancontinued, and (c) the amount of such Loan(s) which is to be converted or continued as a LIBOR Rate Loan and the duration of the Interest Period applicable thereto. Each conversion of a LIBOR Rate Loan into a Base Rate Loan shall involve a minimum amount of $3,000,000 (and a whole multiple of $1,000,000, if in excess thereof). Each conversion of a Base Rate Loan into a LIBOR Rate Loan shall involve a minimum amount of $5,000,000 (and a whole multiple of $1,000,000 if in excess thereof). No partial conversion of LIBOR Rate Loans made pursuant to a single Borrowing Notice shall reduce the outstanding principal amount of such LIBOR Rate Loans to less than $5,000,000 (or to any greater amount not a whole multiple of $1,000,000 in excess thereof). Except as otherwise provided in Section 2.16.6, LIBOR Rate Loans may be converted into Base Rate Loans only on the last day of the Interest Period Applicable thereto (and in any event, if a LIBOR Rate Loan is converted into a Base Rate Loan on any day other than the last day of the Interest Period applicable thereto, the Borrower will pay, upon such conversion, all amounts required under Section 2.18 to be paid as a consequence thereof). Upon receipt of any such notice, the Administrative Agent shall promptly notify each Lender of (x) the contents thereof, (y) the amount and Type and, in the case of LIBOR Rate Loans, the last day of the applicable Interest Period of each Loan to be converted or continued by such Lender and (z) the amount and Type or Types of Loans into which such Loans are to be converted or as which such Loan are to be continued. (ii) Notwithstanding anything to the contrary contained in this Section 2.2, during an Event of Default, the Administrative Agent may notify the Borrower that Loans may only be converted into or continued as Loans of certain specified Types.

Appears in 1 contract

Samples: Credit Agreement (WGL Holdings Inc)

Conversion and Continuation of Outstanding Loans. Alternate Base Rate Loans shall continue as Alternate Base Rate Loans unless and until such Alternate Base Rate Loans are converted into Eurocurrency Loans pursuant Prior to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07. Each Eurocurrency the occurrence of the Termination Date, each Loan shall continue as a Eurocurrency Loan until may, at the option of the Borrower at the end of the then applicable Interest Period thereforrelated Funding Period, at which time such Eurocurrency Loan shall be automatically converted into an Alternate Base Rate Loan, unless (x) such Eurocurrency Loan 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, continued at the end of such Interest Period, such Eurocurrency Loan continue as a Eurocurrency Loan for same Yield Rate or converted to another Yield Rate. If the same or another Interest Period. The Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan into a Eurocurrency Loan. Notwithstanding anything to the contrary contained in this Section 2.09, (except with the consent of the Required Tranche Lenders with respect to the relevant Tranche) when any Default Termination Date has occurred and is continuing continuing, then (i) no outstanding Loan funded by the Lenders may be converted to, or continued as, a Eurodollar Loan and (ii) unless repaid, each Eurodollar Loan shall be continued as bear interest at a Loan with an Interest Base Rate on the last day of the Funding Period not longer than one monthrelated thereto. The For any such conversion or continuation, the Borrower shall give the Administrative Facility Agent and the related Group Agent irrevocable notice by a notice substantially in the form of Exhibit G 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)each, in each case appropriately completed and signed by an Authorized Officer of the Borrower (a “Conversion/Continuation Notice”) of each such request not later than 12:30 P.M. (New York time) (i) in the case of a conversion of an Alternate Base Rate a BR Loan into a Eurocurrency Eurodollar Loan, or a continuation of a Eurodollar Loan as a Eurodollar Loan, three (3) Business Days before the date of such conversion or continuation, as applicable, and (ii) in the case of a conversion of a Eurodollar Loan into a BR Loan or a continuation of a Eurocurrency BR Loan, with each on the Business Day of such conversion or continuation. If a Conversion/Continuation Notice has not been timely delivered with respect to any Loan, such Loan shall be received not later than 11:00 a.m. (New York time) at least three (3) Business Days prior to the date of the requested conversion automatically continued as, or continuationconverted to, specifying: a BR Loan. Each Conversion/Continuation Notice shall specify (a) the requested date, date (which shall be a Business Day, ) of such conversion or continuation, , (b) the aggregate amount and Type of rate option applicable to the Loan which is to be converted or continued as a Eurocurrency Loan, and and (c) the duration amount and rate option(s) of Loan(s) into which such Loan is to be converted or continued. For administrative convenience, Conversion/Continuation Notices may be in the Interest Period applicable theretoform of standing instructions mutually agreeable to the Borrower, the Facility Agent and the Group Agents.

Appears in 1 contract

Samples: Funding Agreement (Fieldstone Investment Corp)

Conversion and Continuation of Outstanding Loans. Alternate Base Rate Loans shall continue as Alternate Base Rate Loans unless and until such Alternate Base Rate Loans are converted into Eurocurrency Loans pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07. Each Eurocurrency Loan shall continue as a Eurocurrency Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Loan shall be automatically converted into an Alternate Base Rate LoanLoan (provided, that in the case of a Eurocurrency Loan denominated in a Foreign Currency, such Eurocurrency Loan shall be continued as a Eurocurrency Loan in its original currency with an Interest Period of one month), unless (x) such Eurocurrency Loan is or was repaid in accordance with Section 2.07 or (y) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Loan continue as a Eurocurrency Loan for the same or another Interest Period. The applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan into a Eurocurrency Loan. No Loan may be converted into or continued as a Loan denominated in a different currency, but instead must be prepaid in the original currency of such Loan and reborrowed in the other currency. Notwithstanding anything to the contrary contained in this Section 2.09, 2.09 (except with the consent of the Required Tranche Lenders with respect to the relevant TrancheLenders) when any Default has occurred and is continuing each Eurocurrency Loan shall be continued as a Loan in its original currency with an Interest Period not longer than one month. The applicable Borrower shall give the Administrative Agent notice by a notice substantially in the form of Exhibit G E 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 applicable Borrower (a “Conversion/Continuation Notice”) of each conversion of an Alternate Base Rate Loan into a Eurocurrency Loan or a continuation of a Eurocurrency Loan, with each such Conversion/Continuation Notice to be received not later than (I) (a) in the event that HSBC Bank plc is the sole Lender under the Revolving Facility on the date of delivery of the applicable Conversion/Continuation Notice, 11:00 a.m. (in the case of a Conversion/Continuation Notice delivered by WBA, New York time, and in the case of a notice delivered by the Designated Borrower, London time) at least three two (32) Business Days Days, in the case of any Loans denominated in Dollars, prior to the date of the requested conversion or continuation and (b) in the event that more than one Person is a Lender under the Revolving Facility on the date of delivery of the applicable Conversion/Continuation Notice, with the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) 11:00 a.m. (in the case of a Conversion/Continuation Notice delivered by WBA, New York time, and in the case of a notice delivered by the Designated Borrower, London time) at least two (2) Business Days, in the case of any Loans denominated in Dollars, prior to the date of the requested conversion or continuation, but in no event shall such notice period be longer than three (3) Business Days and (II) 11:00 a.m. (in the case of a Conversion/Continuation Notice delivered by WBA, New York time, and in the case of a notice delivered by the Designated Borrower, London time) at least four (4) Business Days, in the case of any Eurocurrency Loans denominated in a Foreign Currency, prior to the date of the requested conversion or continuation, in each case, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount and Type of the Loan which is to be converted or continued as a Eurocurrency Loan, and (c) the duration of the Interest Period applicable thereto.

Appears in 1 contract

Samples: Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)

Conversion and Continuation of Outstanding Loans. Alternate Base Rate Loans shall continue as Alternate Base Rate Loans unless and until such Alternate Base Rate Loans are converted into Eurocurrency Loans pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07. Each Eurocurrency Loan shall continue as a Eurocurrency Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Loan shall be automatically converted into an Alternate Base Rate LoanLoan (provided, that in the case of a Eurocurrency Loan denominated in a Foreign Currency, such Eurocurrency Loan shall be continued as a Eurocurrency Loan in its original currency with an Interest Period of one month), unless (x) such Eurocurrency Loan 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 Interest Period, such Eurocurrency Loan continue as a Eurocurrency Loan for the same or another Interest Period. The Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan into a Eurocurrency Loan. No Loan may be converted into or continued as a Loan denominated in a different currency, but instead must be prepaid in the original currency of such Loan and reborrowed in the other currency. Notwithstanding anything to the contrary contained in this Section 2.09, 2.09 (except with the consent of the Required Tranche Lenders with respect to the relevant TrancheLenders) when any Default has occurred and is continuing each Eurocurrency Loan shall be continued as a Loan in its original currency with an Interest Period not longer than one month. The Borrower shall give the Administrative Agent notice by a notice substantially in the form of Exhibit G E 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 (a “Conversion/Continuation Notice”) of each conversion of an Alternate Base Rate Loan into a Eurocurrency Loan or a continuation of a Eurocurrency Loan, with each such Conversion/Continuation Notice to be received not later than (I) (a) in the event that Citibank is the sole Lender under the Revolving Facility on the date of delivery of the applicable Conversion/Continuation Notice, 11:00 a.m. (New York time) at least three two (32) Business Days Days, in the case of any Loans denominated in Dollars, prior to the date of the requested conversion or continuation and (b) in the event that more than one Person is a Lender under the Revolving Facility on the date of delivery of the applicable Conversion/Continuation Notice, with the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) 11:00 a.m. (New York time) at least two (2) Business Days, in the case of any Loans denominated in Dollars, prior to the date of the requested conversion or continuation, but in no event shall such notice period be longer than three (3) Business Days and (II) 11:00 a.m. (New York time) at least four (4) Business Days, in the case of any Eurocurrency Loans denominated in a Foreign Currency, prior to the date of the requested conversion or continuation, in each case, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount and Type of the Loan which is to be converted or continued as a Eurocurrency Loan, and (c) the duration of the Interest Period applicable thereto.

Appears in 1 contract

Samples: Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)

Conversion and Continuation of Outstanding Loans. Alternate Base Floating Rate Loans shall continue as Alternate Base Floating Rate Loans unless and until such Alternate Base Floating Rate Loans are converted into Eurocurrency Loans pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07LIBOR Loans. Each Eurocurrency LIBOR Loan shall continue as a Eurocurrency LIBOR Loan until the end of the then applicable LIBOR Interest Period therefor, at which time such Eurocurrency LIBOR Loan shall be automatically converted into an Alternate Base a Floating Rate Loan, Loan unless (x) such Eurocurrency Loan 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 Eurocurrency LIBOR Loan continue as a Eurocurrency LIBOR Loan for the same or another LIBOR Interest Period. The Subject to the terms of Section 2.6, the Borrower may elect from time to time to convert all or any part of an Alternate Base Rate a Revolving Loans or Term Loan of any Type into a Eurocurrency any other Type or Types of Revolving Loan or Term Loan. Notwithstanding anything to the contrary contained in this Section 2.09, (except with the consent as applicable; provided that any conversion of the Required Tranche Lenders with respect to the relevant Tranche) when any Default has occurred and is continuing each LIBOR Loan shall be continued as a Loan with an made -------- on, and only on, the last day of the LIBOR Interest Period not longer than one monthapplicable thereto. The Borrower shall give the Administrative Agent irrevocable notice by a notice substantially in the form of Exhibit G 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 (a "Conversion/Continuation Notice") of each conversion of an Alternate Base Rate Loan into a Eurocurrency Loan or a continuation of a Eurocurrency Loan, with each such Conversion/Continuation Notice to be received LIBOR Loan not later than 11:00 a.m. (New York Chicago time) at least three (3) Business Days Days, in the case of a conversion into or continuation of a LIBOR Loan, prior to the date of the requested conversion or continuation, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation,; (b) the aggregate amount and Type of the Loan which is to be converted or continued as a Eurocurrency Loan, continued; and (c) the amount and Type(s) of Revolving Loan(s) or Term Loan, as applicable, into which such Revolving Loan or Term Loan is to be converted or continued and, in the case of a conversion into or continuation of a LIBOR Loan, the duration of the LIBOR Interest Period applicable thereto.

Appears in 1 contract

Samples: Credit Agreement (Cna Surety Corp)

Conversion and Continuation of Outstanding Loans. Alternate Base Rate Loans shall continue as Alternate Base Rate Loans unless and until such Alternate Base Rate Loans are converted into Eurocurrency Loans pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07. Each Eurocurrency Loan shall continue as a Eurocurrency Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Loan shall be automatically converted into an Alternate Base Rate Loan, unless (x) such Eurocurrency Loan 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 Interest Period, such Eurocurrency Loan continue as a Eurocurrency Loan for the same or another Interest Period. The Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan into a Eurocurrency Loan. Notwithstanding anything to the contrary contained in this Section 2.09, (except with the consent of the Required Tranche Lenders with respect to the relevant TrancheLenders) when any Default has occurred and is continuing each Loan shall be continued as a Loan with an Interest Period not longer than one month. The Borrower shall give the Administrative Agent notice by a notice substantially in the form of Exhibit G 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 (a “Conversion/Continuation Notice”) of each conversion of an Alternate Base Rate Loan into a Eurocurrency Loan or a continuation of a Eurocurrency Loan, with each such Conversion/Continuation Notice to be received not later than 11:00 a.m. (New York time) at least three (3) Business Days prior to the date of the requested conversion or continuation, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount and Type of the Loan which is to be converted or continued as a Eurocurrency Loan, and (c) the duration of the Interest Period applicable thereto.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Walgreens Boots Alliance, Inc.)

Conversion and Continuation of Outstanding Loans. Alternate Base Rate Loans shall continue as Alternate Base Rate Loans unless and until such Alternate Base Rate Loans are converted into Eurocurrency SOFR Rate Loans pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07. Swing Line Loans shall continue bearing interest based on the Adjusted Daily Simple SOFR Rate until such Swing Line Loans are prepaid or repaid in accordance with Section 2.07 (and, for the avoidance of doubt, Swing Line Loans may not be converted into Alternate Base Rate Loans or Term Rate Loans). Each Eurocurrency Term Rate Loan (for the purposes of this Section 2.09, in each case, other than a Swing Line Loan) shall continue as a Eurocurrency Term Rate Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Term Rate Loan shall be automatically converted into an Alternate Base continued as a Term Rate Loan in its original currency with the shortest Interest Period available at such time for such Term Rate Loan, unless (x) such Eurocurrency Term Rate Loan is or was repaid in accordance with Section 2.07 or (y) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Term Rate Loan continue as a Eurocurrency Term Rate Loan for the same or another Interest Period. The Each Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan into a Eurocurrency SOFR Rate Loan. No Loan may be converted into or continued as a Loan denominated in a different currency, but instead must be prepaid in the original currency of such Loan and reborrowed in the other currency, in each case other than as expressly provided for under this Agreement. Notwithstanding anything to the contrary contained in this Section 2.09, 2.09 (except with the consent of the Required Tranche Lenders with respect to the relevant TrancheLenders) when any Default has occurred and is continuing each Term Rate Loan shall be continued as a Loan in its original currency with an Interest Period not longer than one month. The applicable Borrower shall give the Administrative Agent notice by a notice substantially in the form of Exhibit G E 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 applicable Borrower (a “Conversion/Continuation Notice”) of each conversion of an Alternate Base Rate Loan into a Eurocurrency SOFR Rate Loan or a continuation of a Eurocurrency Term Rate Loan, with each such Conversion/Continuation Notice to be received not later than 11:00 a.m. (New York time) at least two (2) Business Days, in the case of any Loans denominated in Dollars, and at least three (3) Business Days Days, in the case of any Loans denominated in a Foreign Currency, prior to the date of the requested conversion or continuation, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount amount, Type and Type currency of the Loan which is to be converted or continued as a Eurocurrency Loancontinued, and (c) the duration of the Interest Period applicable thereto.

Appears in 1 contract

Samples: Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)

Conversion and Continuation of Outstanding Loans. Alternate Base Rate Loans shall continue as Alternate Base Rate Loans unless and until such Alternate Base Rate Loans are converted into Eurocurrency Loans pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07. Each Eurocurrency Loan shall continue as a Eurocurrency Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Loan shall be automatically converted into an Alternate Base Rate Loan, unless (x) such Eurocurrency Loan 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 Interest Period, such Eurocurrency Loan continue as a Eurocurrency Loan for the same or another Interest Period. The Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan into a Eurocurrency Loan. Notwithstanding anything to the contrary contained in this Section 2.09, (except with the consent of the Required Tranche Lenders with respect to the relevant TrancheLenders) when any Default has occurred and is continuing each Loan shall be continued as a Loan with an Interest Period not longer than one month. The Borrower shall give the Administrative Agent notice by a notice substantially in the form of Exhibit G E 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 (a “Conversion/Continuation Notice”) of each conversion of an Alternate Base Rate Loan into a Eurocurrency Loan or a continuation of a Eurocurrency Loan, with each such Conversion/Continuation Notice to be received not later than 11:00 a.m. (New York time) at least three two (32) Business Days prior to the date of the requested conversion or continuation, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount and Type of the Loan which is to be converted or continued as a Eurocurrency Loan, and (c) the duration of the Interest Period applicable thereto.

Appears in 1 contract

Samples: Delayed Draw Term Loan Credit Agreement (Walgreens Boots Alliance, Inc.)

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Conversion and Continuation of Outstanding Loans. Alternate Base Rate Loans shall continue as Alternate Base Rate Loans unless and until such Alternate Base Rate Loans are converted into Eurocurrency Loans pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07. Each Eurocurrency Loan shall continue as a Eurocurrency Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Loan shall be automatically converted into continued as a Eurocurrency Loan for an Alternate Base Rate LoanInterest Period of one month, unless (x) such Eurocurrency Loan 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 Interest Period, such Eurocurrency Loan continue as a Eurocurrency Loan for the same or another Interest Period. The Subject to the terms of Section 2.06, the Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan into a Eurocurrency Loan. Notwithstanding anything to the contrary contained in this Section 2.09, no Loan may be converted or continued as a Eurocurrency Loan (except with the consent of the Required Tranche Lenders with respect to the relevant TrancheLenders) when any Default has occurred and is continuing each Loan shall be continued as a Loan with an Interest Period not longer than one monthcontinuing. The Borrower shall give the Administrative Agent notice by a notice substantially in the form of Exhibit G 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 (a “Conversion/Continuation Notice”) Borrower, of each conversion of an Alternate Base Rate Loan into a Eurocurrency Loan or a continuation of a Eurocurrency Loan, with each such Conversion/Continuation Notice to be received Loan not later than 11:00 a.m. (New York Pacific time) at least three (3) Business Days prior to the date of the requested conversion or continuation, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount and Type of the Loan which is to be converted or continued as a Eurocurrency Loan, and (c) the duration of the Interest Period applicable thereto.

Appears in 1 contract

Samples: Credit Agreement (SALESFORCE.COM, Inc.)

Conversion and Continuation of Outstanding Loans. Alternate Base Floating Rate Loans shall continue as Alternate Base Floating Rate Loans unless and until such Alternate Base Floating Rate Loans are converted into Eurocurrency Eurodollar Loans pursuant to this Section 2.09 2.9 or are prepaid or repaid in accordance with Section 2.072.7. Each Eurocurrency Eurodollar Loan shall continue as a Eurocurrency Eurodollar Loan until the end of the then applicable Interest Period therefor, at which time each such Eurocurrency Eurodollar Loan shall be automatically converted into an Alternate Base a Floating Rate Loan, Loan unless (x) such Eurocurrency Eurodollar Loan is or was repaid in accordance with Section 2.07 2.7 or (y) the Borrower shall have given the Administrative Agent Bank a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency Eurodollar Loan either continue as a Eurocurrency Eurodollar Loan for the same or another Interest PeriodPeriod or be converted into a Floating Rate Loan. The Any conversion of any Eurodollar Loan shall be made only on the last day of the Interest Period applicable thereto Subject to the terms of Section 2.6, the Borrower may elect from time to time to convert all or any part of an Alternate Base a Floating Rate Loan into a Eurocurrency Eurodollar Loan. Notwithstanding anything to the contrary contained in this Section 2.09, (except with the consent of the Required Tranche Lenders with respect to the relevant Tranche) when any Default has occurred and is continuing each Loan shall be continued as a Loan with an Interest Period not longer than one month. The Borrower shall give the Administrative Agent Bank irrevocable notice by a notice substantially in the form of Exhibit G 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 (a "Conversion/Continuation Notice") of each conversion of an Alternate Base a Floating Rate Loan into a Eurocurrency Eurodollar Loan or a continuation of a Eurocurrency Loan, with each such Conversion/Continuation Notice to be received Eurodollar Loan not later than 11:00 10:00 a.m. (New York Chicago time) at least three (3) Business Days prior to the date of the requested conversion or continuation, specifying: (ai) the requested date, which shall be a Business Day, of such conversion or continuation, (bii) the aggregate amount and Type of the Loan which is to be converted or continued, and, (iii) the amount of such Loan which is to be converted into or continued as a Eurocurrency Loan, and (c) Eurodollar Loan and the duration of the Interest Period applicable thereto.

Appears in 1 contract

Samples: Credit Agreement (Hurco Companies Inc)

Conversion and Continuation of Outstanding Loans. Alternate Base Rate Loans shall continue as Alternate Base Rate Loans unless and until such Alternate Base Rate Loans are converted into Eurocurrency SOFR Rate Loans pursuant to this Section 2.09 2.08 or are prepaid or repaid in accordance with Section 2.07. Each Eurocurrency SOFR Rate Loan shall continue as a Eurocurrency SOFR Rate Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency SOFR Rate Loan shall be automatically converted into an Alternate Base continued as a SOFR Rate LoanLoan with the same Interest Period, unless (x) such Eurocurrency SOFR Rate Loan is or was repaid in accordance with Section ‎Section 2.07 or (y) the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Interest Period, such Eurocurrency SOFR Rate Loan be converted to an Alternate Base Rate Loan or continue as a Eurocurrency SOFR Rate Loan for the same or another Interest Period. The applicable Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan into a Eurocurrency SOFR Rate Loan. Notwithstanding anything to the contrary contained in this Section 2.09‎Section 2.08, (except with the consent of the Required Tranche Lenders with respect to the relevant TrancheLenders) when any Default has occurred and is continuing each Term SOFR Loan shall be continued as a Loan with an Interest Period not longer than one month. The applicable Borrower shall give the Administrative Agent notice by a notice substantially in the form of Exhibit G E 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 applicable Borrower (a “Conversion/Continuation Notice”) of each conversion of an Alternate Base Rate Loan into a Eurocurrency SOFR Rate Loan or a continuation of a Eurocurrency SOFR Rate Loan, with each such Conversion/Continuation Notice to be received not later than 11:00 a.m. (New York time) at least three two (32) Business Days prior to the date of the requested conversion or continuation, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount and Type of the Loan which is to be converted or continued as a Eurocurrency SOFR Rate Loan, and (c) the duration of the Interest Period applicable thereto.

Appears in 1 contract

Samples: Delayed Draw Term Loan Credit Agreement (Walgreens Boots Alliance, Inc.)

Conversion and Continuation of Outstanding Loans. Alternate Base Rate Loans shall continue as Alternate Base Rate Loans unless and until such Alternate Base Rate Loans are converted into Eurocurrency Loans pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07. LIBOR Daily Floating Rate Loans shall continue as LIBOR Daily Floating Rate Loans unless and until such LIBOR Daily Floating Rate Loans are converted into Alternate Base Rate Loans or Eurocurrency Loans (other than LIBOR Daily Floating Rate Loans) pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07. Each Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan) shall continue as a Eurocurrency Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Loan shall be automatically converted into an Alternate Base Rate Loan, unless (x) such Eurocurrency Loan 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 Interest Period, such Eurocurrency Loan continue as a Eurocurrency Loan for the same or another Interest Period. The Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan into a Eurocurrency Loan or all or any part of a LIBOR Daily Floating Rate Loan into an Alternate Base Rate Loan or a Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan). Notwithstanding anything to the contrary contained in this Section 2.09, (except with the consent of the Required Tranche Lenders with respect to the relevant TrancheLenders) when any Default has occurred and is continuing each Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan) shall be continued as a Loan with an Interest Period not longer than one month. The Borrower shall give the Administrative Agent notice by a notice substantially in the form of Exhibit G E 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 (a “Conversion/Continuation Notice”) of each conversion of an Alternate Base Rate Loan into a Eurocurrency Loan, a LIBOR Daily Floating Rate Loan into a Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan), a conversion of a LIBOR Daily Floating Rate Loan into a Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan) or a continuation of a Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan), with each such Conversion/Continuation Notice to be received not later than 11:00 a.m. (New York time) at least three (3) Business Days prior to the date of the requested conversion or continuation, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount and Type (including, with respect to Revolving Loans, whether such Revolving Loan is a LIBOR Daily Floating Rate Loan) of the Loan which is to be converted or continued as a Eurocurrency Loan and whether such Loan is a Revolving Loan or a Term Loan, and (c) other than with respect to LIBOR Daily Floating Rate Loans, the duration of the Interest Period applicable thereto.

Appears in 1 contract

Samples: Credit Agreement (Walgreens Boots Alliance, Inc.)

Conversion and Continuation of Outstanding Loans. Alternate Base Rate Loans shall continue as Alternate Base Rate Loans unless and until such Alternate Base Rate Loans are converted into Eurocurrency Loans pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07. Each Eurocurrency Loan shall continue as a Eurocurrency Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Loan shall be automatically converted into an Alternate Base Rate Loan, unless (x) such Eurocurrency Loan 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 Interest Period, such Eurocurrency Loan continue as a Eurocurrency Loan for the same or another Interest Period. The Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan into a Eurocurrency Loan. Notwithstanding anything to the contrary contained in this Section 2.09, (except with the consent of the Required Tranche Lenders with respect to the relevant TrancheLenders) when any Default has occurred and is continuing each Loan shall be continued as a Loan with an Interest Period not longer than one month. The Borrower shall give the Administrative Agent notice by a notice substantially in the form of Exhibit G E 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 (a “Conversion/Continuation Notice”) of each conversion of an Alternate Base Rate Loan into a Eurocurrency Loan or a continuation of a Eurocurrency Loan, with each such Conversion/Continuation Notice to be received not later than 11:00 a.m. (New York time) at least three (3) Business Days prior to the date of the requested conversion or continuation, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount and Type of the Loan which is to be converted or continued as a Eurocurrency Loan, and (c) the duration of the Interest Period applicable thereto.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Walgreens Boots Alliance, Inc.)

Conversion and Continuation of Outstanding Loans. Alternate Base Floating Rate Loans shall continue as Alternate Base Floating Rate Loans unless and until such Alternate Base Floating Rate Loans are converted into Eurocurrency Loans pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07Eurodollar Loans. Each Eurocurrency Eurodollar Loan shall continue as a Eurocurrency Eurodollar Loan until the end of the then applicable Eurodollar Interest Period therefor, at which time such Eurocurrency Eurodollar Loan shall be automatically converted into an Alternate Base a Floating Rate Loan, Loan unless (x) such Eurocurrency Loan is or was repaid in accordance with Section 2.07 or (y) the Borrower Company shall have given the Administrative Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Eurodollar Interest Period, such Eurocurrency Eurodollar Loan either continue as a Eurocurrency Eurodollar Loan for the same or another Eurodollar Interest PeriodPeriod or be converted into a Floating Rate Loan. The Borrower Subject to the terms hereof, the Company may elect from time to time to convert all or any part of an Alternate Base Rate a Loan of any Type into any other Type or Types of Loans; provided that any conversion of a Eurocurrency LoanEurodollar Loan shall be made on, and only on, the last day of the Eurodollar Interest Period applicable thereto. Notwithstanding anything herein to the contrary contained in this Section 2.09contrary, (except with the consent of the Required Tranche Lenders with respect no Loan may be converted to the relevant Tranche) when a Eurodollar Loan, and no Eurodollar Loan may be continued as such, if any Default or Unmatured Default has occurred and is continuing each Loan shall be continued as a Loan with an Interest Period not longer than one monthcontinuing. The Borrower Company shall give the Administrative Agent notice by a irrevocable notice substantially in the form of Exhibit G 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 C annexed hereto (a "Conversion/Continuation Notice") of each conversion of an Alternate Base Rate Loan into a Eurocurrency Loan or a continuation of a Eurocurrency Loan, with each such Conversion/Continuation Notice to be received Eurodollar Loan not later than 11:00 10:00 a.m. (New York City time) at least one Business Day, in the case of a conversion into a Floating Rate Loan or three (3) Business Days Days, in the case of a conversion into or continuation of a Eurodollar Loan, prior to the date of the requested conversion or continuation, specifying: (ai) the requested date, which shall be a Business Day, of such conversion or continuation, (bii) the aggregate amount and Type of the Loan which is to be converted or continued as a Eurocurrency Loancontinued, and (ciii) the amounts and Type(s) of Loan(s) into which such Loan is to be converted or continued and, in the case of a conversion into or continuation of a Eurodollar Loan, the duration of the Eurodollar Interest Period applicable thereto.

Appears in 1 contract

Samples: Credit Agreement (Meritor Automotive Inc)

Conversion and Continuation of Outstanding Loans. Alternate Base Rate Loans shall continue as Alternate Base Rate Loans unless and until such Alternate Base Rate Loans are converted into Eurocurrency Loans pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07. Each Eurocurrency Loan shall continue as a Eurocurrency Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Loan shall be automatically converted into an Alternate Base Rate LoanLoan (provided, that in the case of a Eurocurrency Loan denominated in a Foreign Currency, such Eurocurrency Loan shall be continued as a Eurocurrency Loan in its original currency with an Interest Period of one month), unless (x) such Eurocurrency Loan is or was repaid in accordance with Section ‎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 Interest Period, such Eurocurrency Loan continue as a Eurocurrency Loan for the same or another Interest Period. The Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan into a Eurocurrency Loan. No Loan may be converted into or continued as a Loan denominated in a different currency, but instead must be prepaid in the original currency of such Loan and reborrowed in the other currency. Notwithstanding anything to the contrary contained in this Section 2.09, ‎Section 2.09 (except with the consent of the Required Tranche Lenders with respect to the relevant TrancheLenders) when any Default has occurred and is continuing each Eurocurrency Loan shall be continued as a Loan in its original currency with an Interest Period not longer than one month. The Borrower shall give the Administrative Agent notice by a notice substantially in the form of Exhibit G E 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 (a "Conversion/Continuation Notice") of each conversion of an Alternate Base Rate Loan into a Eurocurrency Loan or a continuation of a Eurocurrency Loan, with each such Conversion/Continuation Notice to be received not later than 11:00 a.m. (New York time) at least three two (32) Business Days Days, in the case of any Loans denominated in Dollars, and at least four (4) Business Days, in the case of any Eurocurrency Loans denominated in a Foreign Currency, prior to the date of the requested conversion or continuation, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount and Type of the Loan which is to be converted or continued as a Eurocurrency Loan, and (c) the duration of the Interest Period applicable thereto.

Appears in 1 contract

Samples: Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)

Conversion and Continuation of Outstanding Loans. Alternate Base Rate Loans shall continue as Alternate Base Rate Loans unless and until such Alternate Base Rate Loans are converted into Eurocurrency Loans pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07. LIBOR Daily Floating Rate Loans shall continue as LIBOR Daily Floating Rate Loans unless and until such LIBOR Daily Floating Rate Loans are converted into Alternate Base Rate Loans or Eurocurrency Loans (other than LIBOR Daily Floating Rate Loans) pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07. Each Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan) shall continue as a Eurocurrency Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Loan shall be automatically converted into an Alternate Base Rate Loan, unless (x) such Eurocurrency Loan 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 Interest Period, such Eurocurrency Loan continue as a Eurocurrency Loan for the same or another Interest Period. The Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan into a Eurocurrency Loan or all or any part of a LIBOR Daily Floating Rate Loan into an Alternate Base Rate Loan or a Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan). Notwithstanding anything to the contrary contained in this Section 2.09, (except with the consent of the Required Tranche Lenders with respect to the relevant TrancheLenders) when any Default has occurred and is continuing each Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan) shall be continued as a Loan with an Interest Period not longer than one month. The Borrower shall give the Administrative Agent notice by a notice substantially in the form of Exhibit G E 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 (a “Conversion/Continuation Notice”) of each conversion of an Alternate Base Rate Loan into a Eurocurrency Loan, a LIBOR Daily Floating Rate Loan into a Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan), a conversion of a LIBOR Daily Floating Rate Loan into a Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan) or a continuation of a Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan), with each such Conversion/Continuation Notice to be received not later than (i) in the event that Xxxxx Fargo is the sole Lender under the Revolving Facility on the date of delivery of the applicable Conversion/Continuation Notice, 11:00 a.m. (New York time) at least three two (32) Business Days prior to the date of the requested conversion or continuation and (ii) in the event more than one Person is a Lender under the Revolving Facility on the date of delivery of the applicable Conversion/Continuation Notice, with the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) 11:00 a.m. (New York time) at least two (2) Business Days prior to the date of the requested conversion or continuation, but in no event shall such notice period be longer than three (3) Business Days, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount and Type (including whether such Loan is a LIBOR Daily Floating Rate Loan) of the Loan which is to be converted or continued as a Eurocurrency Loan, and (c) other than with respect to LIBOR Daily Floating Rate Loans, the duration of the Interest Period applicable thereto.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Walgreens Boots Alliance, Inc.)

Conversion and Continuation of Outstanding Loans. Alternate Base Rate Loans shall continue as Alternate Base Rate Loans unless and until such Alternate Base Rate Loans are converted into Eurocurrency Loans pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07. Each Eurocurrency Loan shall continue as a Eurocurrency Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Loan shall be automatically converted into an Alternate Base Rate LoanLoan (provided, that in the case of a Eurocurrency Loan denominated in a Foreign Currency, such Eurocurrency Loan shall be continued as a Eurocurrency Loan in its original currency with an Interest Period of one month), unless (x) such Eurocurrency Loan 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 Interest Period, such Eurocurrency Loan continue as a Eurocurrency Loan for the same or another Interest Period. The Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan into a Eurocurrency Loan. No Loan may be converted into or continued as a Loan denominated in a different currency, but instead must be prepaid in the original currency of such Loan and reborrowed in the other currency. Notwithstanding anything to the contrary contained in this Section 2.09, 2.09 (except with the consent of the Required Tranche Lenders with respect to the relevant TrancheLenders) when any Default has occurred and is continuing each Eurocurrency Loan shall be continued as a Loan in its original currency with an Interest Period not longer than one month. The Borrower shall give the Administrative Agent notice by a notice substantially in the form of Exhibit G E 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 (a “Conversion/Continuation Notice”) of each conversion of an Alternate Base Rate Loan into a Eurocurrency Loan or a continuation of a Eurocurrency Loan, with each such Conversion/Continuation Notice to be received not later than (I) (a) in the event that JPMorgan Chase Bank, N.A. is the sole Lender under the Revolving Facility on the date of delivery of the applicable Conversion/Continuation Notice, 11:00 a.m. (New York time) at least three two (32) Business Days Days, in the case of any Loans denominated in Dollars, prior to the date of the requested conversion or continuation and (b) in the event that more than one Person is a Lender under the Revolving Facility on the date of delivery of the applicable Conversion/Continuation Notice, with the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) 11:00 a.m. (New York time) at least two (2) Business Days, in the case of any Loans denominated in Dollars, prior to the date of the requested conversion or continuation, but in no event shall such notice period be longer than three (3) Business Days and (II) 11:00 a.m. (New York time) at least four (4) Business Days, in the case of any Eurocurrency Loans denominated in a Foreign Currency, prior to the date of the requested conversion or continuation, in each case, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount and Type of the Loan which is to be converted or continued as a Eurocurrency Loan, and (c) the duration of the Interest Period applicable thereto.

Appears in 1 contract

Samples: Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)

Conversion and Continuation of Outstanding Loans. Alternate Base Rate Loans shall continue as Alternate Base Rate Loans unless and until such Alternate Base Rate Loans are converted into Eurocurrency Loans pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07. Each Eurocurrency Loan shall continue as a Eurocurrency Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Loan shall be automatically converted into an Alternate Base Rate Loan, unless (x) such Eurocurrency Loan 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 Interest Period, such Eurocurrency Loan continue as a Eurocurrency Loan for the same or another Interest Period. The Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan into a Eurocurrency Loan. Notwithstanding anything to the contrary contained in this Section 2.09, (except with the consent of the Required Tranche Lenders with respect to the relevant TrancheLenders) when any Default has occurred and is continuing each Loan shall be continued as a Loan with an Interest Period not longer than one month. The Borrower shall give the Administrative Agent notice by a notice substantially in the form of Exhibit G E 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 (a “Conversion/Continuation Notice”) of each conversion of an Alternate Base Rate Loan into a Eurocurrency Loan or a continuation of a Eurocurrency Loan, with each such Conversion/Continuation Notice to be received not later than 11:00 a.m. (New York time) at least three (3) Business Days prior to the date of the requested conversion or continuation, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount and Type of the Loan which is to be converted or continued as a Eurocurrency Loan and whether such Loan is a Revolving Loan or a Term Loan, and (c) the duration of the Interest Period applicable thereto.

Appears in 1 contract

Samples: Credit Agreement (Walgreens Boots Alliance, Inc.)

Conversion and Continuation of Outstanding Loans. Alternate Base Rate Loans shall continue as Alternate Base Rate Loans unless and until such Alternate Base Rate Loans are converted into Eurocurrency Loans pursuant to this Section ‎Section 2.09 or are prepaid or repaid in accordance with Section ‎Section 2.07. LIBOR Daily Floating Rate Loans shall continue as LIBOR Daily Floating Rate Loans unless and until such LIBOR Daily Floating Rate Loans are converted into Alternate Base Rate Loans or Eurocurrency Loans (other than LIBOR Daily Floating Rate Loans) pursuant to this ‎Section 2.09 or are prepaid or repaid in accordance with ‎Section 2.07. Each Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan) shall continue as a Eurocurrency Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Loan shall be automatically converted into an Alternate Base Rate Loan, unless (x) such Eurocurrency Loan is or was repaid in accordance with Section ‎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 Interest Period, such Eurocurrency Loan continue as a Eurocurrency Loan for the same or another Interest Period. The Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan into a Eurocurrency Loan or all or any part of a LIBOR Daily Floating Rate Loan into an Alternate Base Rate Loan or a Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan). Notwithstanding anything to the contrary contained in this Section ‎Section 2.09, (except with the consent of the Required Tranche Lenders with respect to the relevant TrancheLenders) when any Default has occurred and is continuing each Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan) shall be continued as a Loan with an Interest Period not longer than one month. The Borrower shall give the Administrative Agent notice by a notice substantially in the form of Exhibit G E 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 (a "Conversion/Continuation Notice") of each conversion of an Alternate Base Rate Loan into a Eurocurrency Loan, a LIBOR Daily Floating Rate Loan into a Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan), a conversion of a LIBOR Daily Floating Rate Loan into a Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan) or a continuation of a Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan), with each such Conversion/Continuation Notice to be received not later than (i) in the event that Xxxxx Fargo is the sole Lender under the Revolving Facility on the date of delivery of the applicable Conversion/Continuation Notice, 11:00 a.m. (New York time) at least three two (32) Business Days prior to the date of the requested conversion or continuation and (ii) in the event more than one Person is a Lender under the Revolving Facility on the date of delivery of the applicable Conversion/Continuation Notice, with the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) 11:00 a.m. (New York time) at least two (2) Business Days prior to the date of the requested conversion or continuation, but in no event shall such notice period be longer than three (3) Business Days, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount and Type (including whether such Loan is a LIBOR Daily Floating Rate Loan) of the Loan which is to be converted or continued as a Eurocurrency Loan and whether such Loan is a New Loan or Existing Loan, and (c) other than with respect to LIBOR Daily Floating Rate Loans, the duration of the Interest Period applicable thereto.

Appears in 1 contract

Samples: Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)

Conversion and Continuation of Outstanding Loans. Alternate Base Rate Loans shall continue as Alternate Base Rate Loans unless and until such Alternate Base Rate Loans are converted into Eurocurrency Loans pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07. Each Eurocurrency Loan shall continue as a Eurocurrency Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Loan shall be automatically converted into an Alternate Base Rate LoanLoan (provided, that in the case of a Eurocurrency Loan denominated in a Foreign Currency, such Eurocurrency Loan shall be continued as a Eurocurrency Loan in its original currency with an Interest Period of one month), unless (x) such Eurocurrency Loan 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 Interest Period, such Eurocurrency Loan continue as a Eurocurrency Loan for the same or another Interest Period. The Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan into a Eurocurrency Loan. No Loan may be converted into or continued as a Loan denominated in a different currency, but instead must be prepaid in the original currency of such Loan and reborrowed in the other currency. Notwithstanding anything to the contrary contained in this Section 2.09, 2.09 (except with the consent of the Required Tranche Lenders with respect to the relevant TrancheLenders) when any Default has occurred and is continuing each Eurocurrency Loan shall be continued as a Loan in its original currency with an Interest Period not longer than one month. The Borrower shall give the Administrative Agent notice by a notice substantially in the form of Exhibit G E 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 (a “Conversion/Continuation Notice”) of each conversion of an Alternate Base Rate Loan into a Eurocurrency Loan or a continuation of a Eurocurrency Loan, with each such Conversion/Continuation Notice to be received not later than (I) (a) in the event that HSBC is the sole Lender under the Revolving Facility on the date of delivery of the applicable Conversion/Continuation Notice, 11:00 a.m. (New York time) at least three two (32) Business Days Days, in the case of any Loans denominated in Dollars, prior to the date of the requested conversion or continuation and (b) in the event that more than one Person is a Lender under the Revolving Facility on the date of delivery of the applicable Conversion/Continuation Notice, with the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) 11:00 a.m. (New York time) at least two (2) Business Days, in the case of any Loans denominated in Dollars, prior to the date of the requested conversion or continuation, but in no event shall such notice period be longer than three (3) Business Days and (II) 11:00 a.m. (New York time) at least four (4) Business Days, in the case of any Eurocurrency Loans denominated in a Foreign Currency, prior to the date of the requested conversion or continuation, in each case, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount and Type of the Loan which is to be converted or continued as a Eurocurrency Loan, and (c) the duration of the Interest Period applicable thereto.

Appears in 1 contract

Samples: Revolving Credit Agreement (Walgreens Boots Alliance, Inc.)

Conversion and Continuation of Outstanding Loans. Alternate Base Rate Loans shall continue as Alternate Base Rate Loans unless and until such Alternate Base Rate Loans are converted into Eurocurrency Loans pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07. LIBOR Daily Floating Rate Loans shall continue as LIBOR Daily Floating Rate Loans unless and until such LIBOR Daily Floating Rate Loans are converted into Alternate Base Rate Loans or Eurocurrency Loans (other than LIBOR Daily Floating Rate Loans) pursuant to this Section 2.09 or are prepaid or repaid in accordance with Section 2.07. Each Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan) shall continue as a Eurocurrency Loan until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Loan shall be automatically converted into an Alternate Base Rate Loan, unless (x) such Eurocurrency Loan is or was repaid in accordance with Section ‎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 Interest Period, such Eurocurrency Loan continue as a Eurocurrency Loan for the same or another Interest Period. The Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Loan into a Eurocurrency Loan or all or any part of a LIBOR Daily Floating Rate Loan into an Alternate Base Rate Loan or a Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan). Notwithstanding anything to the contrary contained in this Section ‎Section 2.09, (except with the consent of the Required Tranche Lenders with respect to the relevant TrancheLenders) when any Default has occurred and is continuing each Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan) shall be continued as a Loan with an Interest Period not longer than one month. The Borrower shall give the Administrative Agent notice by a notice substantially in the form of Exhibit G E 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 (a “Conversion/Continuation Notice”) of each conversion of an Alternate Base Rate Loan into a Eurocurrency Loan, a LIBOR Daily Floating Rate Loan into a Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan), a conversion of a LIBOR Daily Floating Rate Loan into a Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan) or a continuation of a Eurocurrency Loan (other than a LIBOR Daily Floating Rate Loan), with each such Conversion/Continuation Notice to be received not later than 11:00 a.m. (New York time) at least three (3) Business Days prior to the date of the requested conversion or continuation, specifying: (a) the requested date, which shall be a Business Day, of such conversion or continuation, (b) the aggregate amount and Type (including, with respect to Revolving Loans, whether such Revolving Loan is a LIBOR Daily Floating Rate Loan) of the Loan which is to be converted or continued as a Eurocurrency Loan and whether such Loan is a Revolving Loan or a Term Loan, and (c) other than with respect to LIBOR Daily Floating Rate Loans, the duration of the Interest Period applicable thereto.

Appears in 1 contract

Samples: Credit Agreement (Walgreens Boots Alliance, Inc.)

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