Conversion and Continuation of Outstanding Ratable Advances. Each ABR Advance shall continue as an ABR Advance unless and until such ABR Advance is converted into a Eurodollar Advance in accordance with this Section 2.2.4 or is prepaid in accordance with Section 2.6. Each Eurodollar Advance shall continue as a Eurodollar Advance of such Type until the end of the then applicable Interest Period therefor, at which time such Eurodollar Advance shall be automatically continued as a Eurodollar Advance with an Interest Period of one month unless such Eurodollar Advance shall have been either (a) prepaid in accordance with Section 2.6, (b) continued as a Eurodollar Advance for another Interest Period in accordance with this Section 2.2.4 or (c) converted into an ABR Advance in accordance with this Section 2.2.4. Subject to the terms of Section 2.5, the Borrower may elect from time to time to convert and/or continue the Rate Option applicable to all or any part of a Ratable Advance into another Rate Option; provided that any conversion or continuation of any Eurodollar Advance shall be made on, and only on, the last day of the Interest Period applicable thereto. The Borrower shall give the Administrative Agent irrevocable notice substantially the form of Exhibit G hereto (a “Rate Option Notice”) of each conversion of an ABR Advance into a Eurodollar Advance, or continuation of a Eurodollar Advance or the conversion of a Eurodollar Advance into an ABR Advance, not later than 1:00 p.m. (New York time) (x) on the Business Day of the conversion of a Eurodollar Advance into an ABR Advance or (y) at least two Business Days prior to the date of the requested conversion or continuation of a Ratable Advance into or as a Eurodollar Advance, specifying: (i) the requested date, which shall be a Business Day, of such conversion or continuation; (ii) the aggregate amount and Rate Option applicable to the Ratable Advance which is to be converted or continued; and (iii) the amount and Rate Option(s) of Ratable Advance(s) into which such Ratable Advance is to be converted or continued and, in the case of a conversion into or continuation of a Eurodollar Advance, the duration of the Interest Period applicable thereto (which shall be subject to the limitations set forth in Section 2.2.6).
Appears in 4 contracts
Samples: Credit Agreement (Horton D R Inc /De/), 364 Day Credit Agreement (Horton D R Inc /De/), Credit Agreement (Horton D R Inc /De/)
Conversion and Continuation of Outstanding Ratable Advances. Each ABR Advance Advances shall continue as an ABR Advance Advances unless and until such ABR Advance is Advances are converted into a Eurodollar Advance in accordance with Advances pursuant to this Section 2.2.4 or is prepaid are repaid in accordance with Section 2.62.7. Each Eurodollar Ratable Advance shall continue as a Eurodollar Ratable Advance of such Type until the end of the then applicable Eurodollar Interest Period therefor, at which time such Eurodollar Ratable Advance shall be automatically continued as a Eurodollar Advance with an Interest Period of one month unless such Eurodollar Advance shall have been either (a) prepaid in accordance with Section 2.6, (b) continued as a Eurodollar Advance for another Interest Period in accordance with this Section 2.2.4 or (c) converted into an ABR Advance unless (i) such Eurodollar Ratable Advance is or was repaid in accordance with this Section 2.2.42.7 or (ii) the Borrower to which such Eurodollar Ratable Advance was made shall have given the Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Eurodollar Interest Period, such Eurodollar Ratable Advance continue as a Eurodollar Ratable Advance for the same or another Eurodollar Interest Period. Subject to the terms of Section 2.52.6, the each Borrower may elect from time to time to convert and/or continue the Rate Option applicable to all or any part of an ABR Advance made to such Borrower into a Eurodollar Ratable Advance into another Rate Option; provided that any conversion or continuation of any Eurodollar Advance shall be made on, and only on, the last day of the Interest Period applicable theretoAdvance. The Such Borrower shall give the Administrative Agent irrevocable notice substantially the form of Exhibit G hereto (a “Rate Option Conversion/Continuation Notice”) of each conversion of an ABR Advance into a Eurodollar Advance, Ratable Advance or continuation of a Eurodollar Ratable Advance or the conversion of a Eurodollar Advance into an ABR Advance, not later than 1:00 p.m. 10:00 a.m. (New York Chicago time) (x) on the Business Day of the conversion of a Eurodollar Advance into an ABR Advance or (y) at least two three Business Days prior to the date of the requested conversion or continuation of a Ratable Advance into or as a Eurodollar Advancecontinuation, specifying:
(ia) the requested datedate of such conversion or continuation, which shall be a Business Day, of such conversion or continuation;,
(iib) the aggregate amount and Rate Option applicable to Type of the Ratable Advance which is to be converted or continued; , and
(iiic) the amount and Rate Option(s) of Ratable Advance(s) into which such Ratable Advance which is to be converted into or continued and, in the case of a conversion into or continuation of as a Eurodollar Advance, Ratable Advance and the duration of the Eurodollar Interest Period applicable thereto (which shall be subject to the limitations set forth in Section 2.2.6)thereto.
Appears in 3 contracts
Samples: Credit Agreement (Nationwide Financial Services Inc/), 364 Day Credit Agreement (Nationwide Financial Services Inc/), 364 Day Credit Agreement (Nationwide Financial Services Inc/)
Conversion and Continuation of Outstanding Ratable Advances. Each ABR Advance Advances shall continue as an ABR Advance Advances unless and until such ABR Advance is Advances are converted into a Eurodollar Advance in accordance with Advances pursuant to this Section 2.2.4 or is prepaid are repaid in accordance with Section 2.62.7. Each Eurodollar Ratable Advance shall continue as a Eurodollar Ratable Advance of such Type until the end of the then applicable Eurodollar Interest Period therefor, at which time such Eurodollar Ratable Advance shall be automatically continued as a Eurodollar Advance with an Interest Period of one month unless such Eurodollar Advance shall have been either (a) prepaid in accordance with Section 2.6, (b) continued as a Eurodollar Advance for another Interest Period in accordance with this Section 2.2.4 or (c) converted into an ABR Advance unless (i) such Eurodollar Ratable Advance is or was repaid in accordance with this Section 2.2.42.7 or (ii) the Borrower to which such Eurodollar Ratable Advance was made shall have given the Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Eurodollar Interest Period, such Eurodollar Ratable Advance continue as a Eurodollar Ratable Advance for the same or another Eurodollar Interest Period. Subject to the terms of Section 2.52.6, the each Borrower may elect from time to time to convert and/or continue the Rate Option applicable to all or any part of an ABR Advance made to such Borrower into a Eurodollar Ratable Advance into another Rate Option; provided that any conversion or continuation of any Eurodollar Advance shall be made on, and only on, the last day of the Interest Period applicable theretoAdvance. The Such Borrower shall give the Administrative Agent irrevocable notice substantially the form of Exhibit G hereto (a “Rate Option Conversion/Continuation Notice”) of each conversion of an ABR Advance into a Eurodollar Advance, Ratable Advance or continuation of a Eurodollar Ratable Advance or the conversion of a Eurodollar Advance into an ABR Advance, not later than 1:00 p.m. 11:00 a.m. (New York time) (x) on the Business Day of the conversion of a Eurodollar Advance into an ABR Advance or (y) at least two three Business Days prior to the date of the requested conversion or continuation of a Ratable Advance into or as a Eurodollar Advancecontinuation, specifying:
(ia) the requested datedate of such conversion or continuation, which shall be a Business Day, of such conversion or continuation;,
(iib) the aggregate amount and Rate Option applicable to Type of the Ratable Advance which is to be converted or continued; , and
(iiic) the amount and Rate Option(s) of Ratable Advance(s) into which such Ratable Advance which is to be converted into or continued and, in the case of a conversion into or continuation of as a Eurodollar Advance, Ratable Advance and the duration of the Eurodollar Interest Period applicable thereto (which shall be subject to the limitations set forth in Section 2.2.6)thereto.
Appears in 2 contracts
Samples: Five Year Credit Agreement (Nationwide Financial Services Inc/), Five Year Credit Agreement (Nationwide Financial Services Inc/)
Conversion and Continuation of Outstanding Ratable Advances. Each ABR Advance Floating Rate Advances shall continue as an ABR Advance Floating Rate Advances unless and until such ABR Advance is Floating Rate Advances are converted into a Eurodollar Advance in accordance with this Section 2.2.4 or is prepaid in accordance with Section 2.6Ratable Advances. Each Eurodollar Ratable Advance shall continue as a Eurodollar Ratable Advance of such Type until the end of the then applicable Eurodollar Interest Period therefor, at which time such Eurodollar Ratable Advance shall be automatically continued converted into a Floating Rate Advance unless the Borrower shall have given the Agent a Conversion/Continuation Notice requesting that, at the end of such Eurodollar Interest Period, such Eurodollar Ratable Advance continue as a Eurodollar Advance with an Interest Period of one month unless such Eurodollar Advance shall have been either (a) prepaid in accordance with Section 2.6, (b) continued as a Eurodollar Ratable Advance for the same or another Eurodollar Interest Period in accordance with this Section 2.2.4 or (c) converted into an ABR Advance in accordance with this Section 2.2.4Period. Subject to the terms of Section 2.52.6, the Borrower may elect from time to time to convert and/or continue the Rate Option applicable to all or any part of a Ratable Advance of any Type into another Rate Optionany other Type or Types of Ratable Advances; provided that any conversion or continuation of any Eurodollar Ratable Advance shall be made on, and only on, the last day of the Eurodollar Interest Period applicable thereto. The Borrower shall give the Administrative Agent irrevocable notice substantially the form of Exhibit G hereto (a “Rate Option "Conversion/Continuation Notice”") of each conversion of an ABR a Ratable Advance into a Eurodollar Advance, or continuation of a Eurodollar Ratable Advance not later than 10:00 a.m. (Chicago time) at least three Business Days, in the case of a conversion into or the conversion continuation of a Eurodollar Advance into an ABR Ratable Advance, not later than 1:00 p.m. (New York time) (x) on the Business Day of the conversion of a Eurodollar Advance into an ABR Advance or (y) at least two Business Days prior to the date of the requested conversion or continuation of a Ratable Advance into or as a Eurodollar Advancecontinuation, specifying:
(i) the requested date, which shall be a Business Day, of such conversion or continuation;
(ii) the aggregate amount and Rate Option applicable to the Type of Ratable Advance which is to be converted or continued; and
(iii) the amount and Rate Option(sType(s) of Ratable Advance(s) into which such Ratable Advance is to be converted or continued and, in the case of a conversion into or continuation of a an Eurodollar Ratable Advance, the duration of the Eurodollar Interest Period applicable thereto (which shall be subject to the limitations set forth in Section 2.2.6)thereto.
Appears in 2 contracts
Samples: Credit Agreement (Torchmark Corp), Credit Agreement (Torchmark Corp)
Conversion and Continuation of Outstanding Ratable Advances. Each ABR Floating Rate Advance under a Facility shall continue as an ABR a Floating Rate Advance of that Type unless and until such ABR Floating Rate Advance is either converted into the other Type of Floating Rate Advance or a Eurodollar Fixed Ratable Advance in accordance with this Section 2.2.4 or is prepaid in accordance with Section 2.6. Each Eurodollar Fixed Ratable Advance under a Facility shall continue as a Eurodollar Fixed Ratable Advance of such Type until the end of the then applicable Interest Period therefor, at which time such Eurodollar Fixed Ratable Advance shall be automatically continued as converted into a Eurodollar Federal Funds/Euro-Rate Advance with an Interest Period of one month under such Facility unless such Eurodollar Fixed Ratable Advance shall have been either (a) prepaid in accordance with Section 2.6, (b) continued as a Eurodollar Fixed Ratable Advance of the same or a different Type for the same or another Interest Period in accordance with this Section 2.2.4 or (c) converted into an ABR Advance in accordance with this Section 2.2.4. Subject to the terms of Section 2.5, the Borrower may elect from time to time to convert and/or continue the Rate Option applicable to all or any part of a Ratable Advance under a Facility into another Rate Option; provided provided, that any conversion or continuation of any Eurodollar Fixed Ratable Advance shall be made on, and only on, the last day of the Interest Period applicable thereto. The Borrower shall give the Administrative Agent irrevocable notice substantially the form of Exhibit G hereto (a “Rate Option Notice”) of each conversion of an ABR a Floating Rate Advance under a Facility into the other Type of Floating Rate Advance or into a Eurodollar Fixed Ratable Advance, or continuation of a Eurodollar Fixed Ratable Advance or the conversion of a Eurodollar Advance into an ABR Fixed Ratable Advance, not later than 1:00 p.m. 11:00 a.m. (New York time) (x) on the Business Day of the conversion of a Eurodollar Floating Rate Advance into the other Type of Floating Rate Advance or the conversion of a Fixed Ratable Advance into an ABR Advance or Advance, (y) at least two one Business Day prior to the requested conversion of a Floating Rate Advance into, or the requested conversion or continuation of a Fixed Ratable Advance into, a Fixed CD Rate Option or (z) at least three Business Days prior to the date of the requested conversion or continuation of a Ratable Advance into or as a Eurodollar Ratable Advance, specifying:
(i) the requested date, which shall be a Business Day, of such conversion or continuation;
(ii) the aggregate amount and Rate Option applicable to the Ratable Advance which is to be converted or continued; and
(iii) the amount and Rate Option(s) of Ratable Advance(s) into which such Ratable Advance is to be converted or continued and, in the case of a conversion into or continuation of a Eurodollar Fixed Ratable Advance, the duration of the Interest Period applicable thereto (which shall be subject to the limitations set forth in Section 2.2.6).
Appears in 2 contracts
Samples: Credit Agreement (Toll Brothers Inc), Credit Agreement (Toll Brothers Inc)
Conversion and Continuation of Outstanding Ratable Advances. Each ABR Advance Alternate Base Rate Advances shall continue as an ABR Advance Alternate Base Rate Advances unless and until such ABR Advance is Alternate Base Rate Advances are converted into a Eurodollar Advance in accordance with this Section 2.2.4 or is prepaid in accordance with Section 2.6Ratable Advances. Each Eurodollar Ratable Advance shall continue as a Eurodollar Ratable Advance of such Type until the end of the then applicable Eurodollar Interest Period therefor, at which time such Eurodollar Ratable Advance shall be automatically continued converted into an Alternate Base Rate Advance unless the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such Eurodollar Interest Period, such Eurodollar Ratable Advance continue as a Eurodollar Advance with an Interest Period of one month unless such Eurodollar Advance shall have been either (a) prepaid in accordance with Section 2.6, (b) continued as a Eurodollar Ratable Advance for the same or another Eurodollar Interest Period in accordance with this Section 2.2.4 or (c) converted into an ABR Advance in accordance with this Section 2.2.4Period. Subject to the terms of Section 2.52.7, the Borrower may elect from time to time to convert and/or continue the Rate Option applicable to all or any part of a Ratable Advance of any Type into another Rate Optionany other Type or Types of Ratable Advances; provided that any conversion or continuation of any Eurodollar Ratable Advance shall be made on, and only on, the last day of the Eurodollar Interest Period applicable thereto. The Borrower shall give the Administrative Agent irrevocable notice substantially the form of Exhibit G hereto (a “Rate Option "Conversion/Continuation Notice”") of each conversion of an ABR a Ratable Advance into a Eurodollar Advance, or continuation of a Eurodollar Ratable Advance not later than 10:00 a.m. (Chicago time) at least one Business Day, in the case of a conversion into an Alternate Base Rate Advance, or at least three Business Days, in the case of a conversion into or continuation of a Eurodollar Advance into an ABR Ratable Advance, not later than 1:00 p.m. (New York time) (x) on the Business Day of the conversion of a Eurodollar Advance into an ABR Advance or (y) at least two Business Days prior to the date of the requested conversion or continuation of a Ratable Advance into or as a Eurodollar Advancecontinuation, specifying:
(ia) the requested date, which shall be a Business Day, of such conversion or continuation;
(iib) the aggregate amount and Rate Option applicable to the Type of Ratable Advance which is to be converted or continued; and
(iiic) the amount and Rate Option(sType(s) of Ratable Advance(s) into which such Ratable Advance is to be converted or continued and, in the case of a conversion into or continuation of a an Eurodollar Ratable Advance, the duration of the Eurodollar Interest Period applicable thereto (which shall be subject to the limitations set forth in Section 2.2.6)thereto.
Appears in 2 contracts
Samples: Credit Agreement (Ralcorp Holdings Inc /Mo), Credit Agreement (Ralcorp Holdings Inc /Mo)
Conversion and Continuation of Outstanding Ratable Advances. Each ABR Advance Floating Rate Advances shall continue as an ABR Advance Floating Rate Advances unless and until such ABR Advance is Floating Rate Advances are converted into a Eurodollar Advance in accordance with this Section 2.2.4 or is prepaid in accordance with Section 2.6Ratable Advances. Each Eurodollar Ratable Advance shall continue as a Eurodollar Ratable Advance of such Type until the end of the then applicable Eurodollar Interest Period therefor, at which time such Eurodollar Ratable Advance shall be automatically continued converted into a Floating Rate Advance unless the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such Eurodollar Interest Period, such Eurodollar Ratable Advance continue as a Eurodollar Advance with an Interest Period of one month unless such Eurodollar Advance shall have been either (a) prepaid in accordance with Section 2.6, (b) continued as a Eurodollar Ratable Advance for the same or another Eurodollar Interest Period in accordance with this Section 2.2.4 or (c) converted into an ABR Advance in accordance with this Section 2.2.4Period. Subject to the terms of Section 2.52.6, the Borrower may elect from time to time to convert and/or continue the Rate Option applicable to all or any part of a Ratable Advance of any Type into another Rate Optionany other Type or Types of Ratable Advances; provided that any conversion or continuation of any Eurodollar Ratable Advance shall be made on, and only on, the last day of the Eurodollar Interest Period applicable thereto. The Borrower shall give the Administrative Agent irrevocable notice substantially the form of Exhibit G hereto (a “Rate Option "Conversion/Continuation Notice”") of each conversion of an ABR a Ratable Advance into a Eurodollar Advance, or continuation of a Eurodollar Ratable Advance or the conversion of a Eurodollar Advance into an ABR Advance, not later than 1:00 p.m. 11:00 a.m. (New York time) (x) on at least three Business Days, in the Business Day case of the a conversion into or continuation of a Eurodollar Advance into an ABR Advance or (y) at least two Business Days Ratable Advance, prior to the date of the requested conversion or continuation of a Ratable Advance into or as a Eurodollar Advancecontinuation, specifying:
(ia) the requested date, which shall be a Business Day, of such conversion or continuation;
(iib) the aggregate amount and Rate Option applicable to the Type of Ratable Advance which is to be converted or continued; and
(iiic) the amount and Rate Option(sType(s) of Ratable Advance(s) into which such Ratable Advance is to be converted or continued and, in the case of a conversion into or continuation of a an Eurodollar Ratable Advance, the duration of the Eurodollar Interest Period applicable thereto (which shall be subject to the limitations set forth in Section 2.2.6)thereto.
Appears in 1 contract
Samples: Credit Agreement (Cna Surety Corp)
Conversion and Continuation of Outstanding Ratable Advances. Each ABR Advance shall continue as an ABR Advance unless and until such ABR Advance is converted into a Eurodollar Term SOFR Advance or Daily Simple SOFR Advance in accordance with this Section 2.2.4 or is prepaid in accordance with Section 2.6. Each Eurodollar Term SOFR Advance shall continue as a Eurodollar Term SOFR Advance of such Type until the end of the then applicable Interest Period therefor, at which time such Eurodollar Term SOFR Advance shall be automatically continued as a Eurodollar Term SOFR Advance with an Interest Period of one month unless such Eurodollar Term SOFR Advance shall have been either (a) prepaid in accordance with Section 2.6, (b) continued as a Eurodollar Term SOFR Advance for another Interest Period in accordance with this Section 2.2.4 or (c) converted into an ABR Advance or Daily Simple SOFR Advance in accordance with this Section 2.2.4. Each Daily Simple SOFR Advance shall continue as a Daily Simple SOFR Advance unless and until such Daily Simple SOFR Advance is converted into a Term SOFR Advance or ABR Advance in accordance with this Section 2.2.4 or is prepaid in accordance with Section 2.6. Subject to the terms of Section 2.5, the Borrower may elect from time to time to convert and/or continue the Rate Option applicable to all or any part of a Ratable Advance into another Rate Option; provided that any conversion or continuation of any Eurodollar Term SOFR Advance shall be made on, and only on, the last day of the Interest Period applicable thereto. The Borrower shall give the Administrative Agent irrevocable notice substantially the form of Exhibit G hereto (a “Rate Option Notice”) of each conversion of an ABR Advance into a Eurodollar Term SOFR Advance or Daily Simple SOFR Advance, conversion of a Daily Simple SOFR Advance into a Term SOFR Advance or ABR Advance, or continuation of a Eurodollar Term SOFR Advance or the conversion of a Eurodollar Term SOFR Advance into an ABR Advance or Daily Simple SOFR Advance, not later than (x) 1:00 p.m. (New York time) (x) on the Business Day of the conversion of a Eurodollar Term SOFR Advance into an ABR Advance or Advance, (y) 11:00 a.m. (New York time) at least two U.S. Government Securities Business Days prior to the date of the requested conversion or continuation of an Advance into or as a Term SOFR Advance or (z) 11:00 a.m. (New York time) at least one U.S. Government Securities Business Day prior to the date of the requested conversion or continuation of a Ratable Advance into or as a Eurodollar Daily Simple SOFR Advance, specifying:
(i) the requested date, which shall be a Business Day, of such conversion or continuation;
(ii) the aggregate amount and Rate Option applicable to the Ratable Advance which is to be converted or continued; and
(iii) the amount and Rate Option(s) of Ratable Advance(s) into which such Ratable Advance is to be converted or continued and, in the case of a conversion into or continuation of a Eurodollar Term SOFR Advance, the duration of the Interest Period applicable thereto (which shall be subject to the limitations set forth in Section 2.2.6).
Appears in 1 contract
Conversion and Continuation of Outstanding Ratable Advances. Each ABR Advance Floating Rate Advances (other than Swing Line Loans) shall continue as an ABR Advance Floating Rate Advances unless and until such ABR Advance is Floating Rate Advances are converted into a Eurodollar Advance in accordance with Ratable Advances pursuant to this Section 2.2.4 2.9 or is prepaid are repaid in accordance with Section 2.62.5. Each Eurodollar Ratable Advance shall continue as a Eurodollar Ratable Advance of such Type until the end of the then applicable Interest Period therefor, at which time such Eurodollar Ratable Advance shall be automatically continued as converted into a Eurodollar Floating Rate Advance with an Interest Period of one month unless (x) such Eurodollar Ratable Advance shall have been either (a) prepaid is or was repaid in accordance with Section 2.62.5 or (y) the Company shall have given the Agent a Conversion/Continuation Notice (as defined below) requesting that, (b) continued at the end of such Interest Period, such Eurodollar Ratable Advance continue as a Eurodollar Ratable Advance for the same or another Interest Period in accordance with this Section 2.2.4 or (c) converted into an ABR Advance in accordance with this Section 2.2.4Period. Subject to the terms of Section 2.5, the Borrower Company may elect from time to time to convert and/or continue the Rate Option applicable to all or any part of a Floating Rate Advance (other than a Swing Line Loan) or into a Eurodollar Ratable Advance into another Rate Option; provided that any conversion or continuation of any Eurodollar Advance shall be made on, and only on, the last day of the Interest Period applicable theretoAdvance. The Borrower Company shall give the Administrative Agent irrevocable notice substantially the form of Exhibit G hereto (a “Rate Option "Conversion/Continuation Notice”") of each conversion of an ABR a Floating Rate Advance into a Eurodollar Advance, Ratable Advance or continuation of a Eurodollar Ratable Advance or the conversion of a Eurodollar Advance into an ABR Advance, not later than 1:00 p.m. 11:00 a.m. (New York Chicago time) (x) on the Business Day of the conversion of a Eurodollar Advance into an ABR Advance or (y) at least two three Business Days prior to the date of the requested conversion or continuation of a Ratable Advance into or as a Eurodollar Advancecontinuation, specifying:
(i) the requested date, which shall be a Business Day, of such conversion or continuation;,
(ii) the aggregate amount and Rate Option applicable to selected for the Ratable Advance which is to be converted or continued; , and
(iii) the amount and Rate Option(s) of Ratable Advance(s) into which such Ratable Advance which is to be converted into or continued and, in the case of a conversion into or continuation of as a Eurodollar Advance, Ratable Advance and the duration of the Interest Period applicable thereto (which shall be subject to the limitations set forth in Section 2.2.6)thereto.
Appears in 1 contract
Conversion and Continuation of Outstanding Ratable Advances. Each ABR Advance Alternate Base Rate Advances shall continue as an ABR Advance Alternate Base Rate Advances unless and until such ABR Advance is Alternate Base Rate Advances are converted into a Eurodollar Advance in accordance with this Section 2.2.4 or is prepaid in accordance with Section 2.6Ratable Advances. Each Eurodollar Ratable Advance shall continue as a Eurodollar Ratable Advance of such Type until the end of the then applicable Eurodollar Interest Period therefor, at which time such Eurodollar Ratable Advance shall be automatically continued converted into an Alternate Base Rate Advance unless the applicable Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such Eurodollar Interest Period, such Eurodollar Ratable Advance continue as a Eurodollar Advance with an Interest Period of one month unless such Eurodollar Advance shall have been either (a) prepaid in accordance with Section 2.6, (b) continued as a Eurodollar Ratable Advance for the same or another Eurodollar Interest Period in accordance with this Section 2.2.4 or (c) converted into an ABR Advance in accordance with this Section 2.2.4Period. Subject to the terms of Section 2.52.6, the either Borrower may elect from time to time to convert and/or continue the Rate Option applicable to all or any part of a Ratable Advance of any Type into another Rate Optionany other Type or Types of Ratable Advances; provided provided, that any conversion or continuation of any Eurodollar Ratable Advance shall be made on, and only on, the last day of the Eurodollar Interest Period applicable thereto. The applicable Borrower shall give the Administrative Agent irrevocable notice substantially the form of Exhibit G hereto (a “Rate Option "Conversion/Continuation Notice”") of each conversion of an ABR a Ratable Advance into a Eurodollar Advance, or continuation of a Eurodollar Ratable Advance not later than 10:00 a.m. (Chicago time) at least three Business Days, in the case of a conversion into or the conversion continuation of a Eurodollar Advance into an ABR Ratable Advance, not later than 1:00 p.m. (New York time) (x) on the Business Day of the conversion of a Eurodollar Advance into an ABR Advance or (y) at least two Business Days prior to the date of the requested conversion or continuation of a Ratable Advance into or as a Eurodollar Advancecontinuation, specifying:
(ia) the requested date, which shall be a Business Day, of such conversion or continuation;
(iib) the aggregate amount and Rate Option applicable to the Type of Ratable Advance which is to be converted or continued; and
(iiic) the amount and Rate Option(sType(s) of Ratable Advance(s) into which such Ratable Advance is to be converted or continued and, in the case of a conversion into or continuation of a an Eurodollar Ratable Advance, the duration of the Eurodollar Interest Period applicable thereto (which shall be subject to the limitations set forth in Section 2.2.6)thereto.
Appears in 1 contract
Samples: Credit Agreement (Midas Inc)
Conversion and Continuation of Outstanding Ratable Advances. Each ABR Advance Alternate Base Rate Advances shall continue as an ABR Advance Alternate Base Rate Advances unless and until such ABR Advance is Alternate Base Rate Advances are converted into a Eurodollar Advance in accordance with this Section 2.2.4 or is prepaid in accordance with Section 2.6Ratable Advances. Each Eurodollar Ratable Advance shall continue as a Eurodollar Ratable Advance of such Type until the end of the then applicable Eurodollar Interest Period therefor, at which time such Eurodollar Ratable Advance shall be automatically continued converted into an Alternate Base Rate Advance unless the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such Eurodollar Interest Period, such Eurodollar Ratable Advance continue as a Eurodollar Advance with an Interest Period of one month unless such Eurodollar Advance shall have been either (a) prepaid in accordance with Section 2.6, (b) continued as a Eurodollar Ratable Advance for the same or another Eurodollar Interest Period in accordance with this Section 2.2.4 or (c) converted into an ABR Advance in accordance with this Section 2.2.4Period. Subject to the terms of Section 2.52.7, the Borrower ----------- may elect from time to time to convert and/or continue the Rate Option applicable to all or any part of a Ratable Advance of any Type into another Rate Optionany other Type or Types of Ratable Advances; provided that any -------- conversion or continuation of any Eurodollar Ratable Advance shall be made on, and only on, the last day of the Eurodollar Interest Period applicable thereto. The Borrower shall give the Administrative Agent irrevocable notice substantially the form of Exhibit G hereto (a “Rate Option "Conversion/Continuation Notice”") of each conversion of an ABR a Ratable Advance into a Eurodollar Advance, or continuation of a Eurodollar Ratable Advance not later than 10:00 a.m. (Chicago time) at least one Business Day, in the case of a conversion into an Alternate Base Rate Advance, or at least three Business Days, in the case of a conversion into or continuation of a Eurodollar Advance into an ABR Ratable Advance, not later than 1:00 p.m. (New York time) (x) on the Business Day of the conversion of a Eurodollar Advance into an ABR Advance or (y) at least two Business Days prior to the date of the requested conversion or continuation of a Ratable Advance into or as a Eurodollar Advancecontinuation, specifying:
(ia) the requested date, which shall be a Business Day, of such conversion or continuation;
(iib) the aggregate amount and Rate Option applicable to the Type of Ratable Advance which is to be converted or continued; and
(iiic) the amount and Rate Option(sType(s) of Ratable Advance(s) into which such Ratable Advance is to be converted or continued and, in the case of a conversion into or continuation of a an Eurodollar Ratable Advance, the duration of the Eurodollar Interest Period applicable thereto (which shall be subject to the limitations set forth in Section 2.2.6)thereto.
Appears in 1 contract
Conversion and Continuation of Outstanding Ratable Advances. Each ABR Advance Floating Rate Advances shall continue as an ABR Advance Floating Rate Advances unless and until such ABR Advance is Floating Rate Advances are converted into a Eurodollar Advance in accordance with this Section 2.2.4 or is prepaid in accordance with Section 2.6Advances. Each Eurodollar Advance shall continue as a Eurodollar Advance of such Type until the end of the then applicable Eurodollar Interest Period therefor, at which time such Eurodollar Advance shall be automatically continued as converted into a Floating Rate Advance unless the Company shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such Eurodollar Advance with an Interest Period of one month unless Period, such Eurodollar Advance shall have been either (a) prepaid in accordance with Section 2.6, (b) continued continue as a Eurodollar Advance for the same or another Eurodollar Interest Period in accordance with this Section 2.2.4 or (c) be converted into an ABR Advance in accordance with this Section 2.2.4a Floating Rate Advance. Subject to the terms of Section 2.52.4.2, the Borrower Company may elect from time to time to convert and/or continue the Rate Option applicable to all or any part of a Ratable Advance of one Rate Option into a Ratable Advance of another Rate OptionOption(s); provided that any conversion or continuation of any Eurodollar Advance shall be made on, and only on, the last day of the Eurodollar Interest Period applicable theretothereto and no portion of the outstanding principal amount of any Ratable Advance may be continued as, or be converted into, a Eurodollar Advance when any Default or Unmatured Default has occurred and is continuing. The Borrower Company shall give the Administrative Agent irrevocable notice substantially the form of Exhibit G hereto (a “Rate Option "Conversion/Continuation Notice”") of each conversion of an ABR a Ratable Advance into a Eurodollar Advance, or continuation of a Eurodollar Advance not later than 10:00 a.m. (Chicago time) at least one Business Day, in the case of a conversion into a Floating Rate Advance, or three Business Days, in the case of a conversion into or continuation of a Eurodollar Advance into an ABR Advance, not later than 1:00 p.m. (New York time) (x) on the Business Day of the conversion of a Eurodollar Advance into an ABR Advance or (y) at least two Business Days prior to the date of the requested conversion or continuation of a Ratable Advance into or as a Eurodollar Advancecontinuation, specifying:
(i) the requested date, date which shall be a Business Day, of such conversion or continuation;
(ii) the aggregate amount and Rate Option applicable to of the Ratable Advance which is to be converted or continued; and
(iii) the amount and Rate Option(s) of Ratable Advance(s) into which such Ratable Advance is to be converted or continued and, in the case of a conversion into or continuation of a Eurodollar Advance, the duration of the Eurodollar Interest Period applicable thereto (which shall be subject to the limitations set forth in Section 2.2.6)thereto.
Appears in 1 contract
Samples: Credit Agreement (Brown Forman Corp)
Conversion and Continuation of Outstanding Ratable Advances. Each ABR Advance Alternate Base Rate Advances shall continue as an ABR Advance Alternate Base Rate Advances unless and until such ABR Advance is Alternate Base Rate Advances are converted into a Eurodollar Advance in accordance with this Section 2.2.4 or is prepaid in accordance with Section 2.6Ratable Advances. Each Eurodollar Ratable Advance shall continue as a Eurodollar Ratable Advance of such Type until the end of the then applicable Eurodollar Interest Period therefor, at which time such Eurodollar Ratable Advance shall be automatically continued converted into an Alternate Base Rate Advance unless the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such Eurodollar Interest Period, such Eurodollar Ratable Advance continue as a Eurodollar Advance with an Interest Period of one month unless such Eurodollar Advance shall have been either (a) prepaid in accordance with Section 2.6, (b) continued as a Eurodollar Ratable Advance for the same or another Eurodollar Interest Period in accordance with this Section 2.2.4 or (c) converted into an ABR Advance in accordance with this Section 2.2.4Period. Subject to the terms of Section 2.52.7, the Borrower may elect from time to time to convert and/or continue the Rate Option applicable to all or any part of a Ratable Advance of any Type into another Rate Optionany other Type or Types of Ratable Advances; provided that any conversion or continuation of any Eurodollar Ratable Advance shall be made on, and only on, the last day of the Eurodollar Interest Period applicable thereto. The Borrower shall give the Administrative Agent irrevocable notice substantially the form of Exhibit G hereto (a “Rate Option "Conversion/Continuation Notice”") of each conversion of an ABR a Ratable Advance into a Eurodollar Advance, or continuation of a Eurodollar Ratable Advance not later than 10:00 a.m. (Chicago time) at least three Business Days, in the case of a conversion into or the conversion continuation of a Eurodollar Advance into an ABR Ratable Advance, not later than 1:00 p.m. (New York time) (x) on the Business Day of the conversion of a Eurodollar Advance into an ABR Advance or (y) at least two Business Days prior to the date of the requested conversion or continuation of a Ratable Advance into or as a Eurodollar Advancecontinuation, specifying:
(ia) the requested date, which shall be a Business Day, of such conversion or continuation;
(iib) the aggregate amount and Rate Option applicable to the Type of Ratable Advance which is to be converted or continued; and
(iiic) the amount and Rate Option(sType(s) of Ratable Advance(s) into which such Ratable Advance is to be converted or continued and, in the case of a conversion into or continuation of a an Eurodollar Ratable Advance, the duration of the Eurodollar Interest Period applicable thereto (which shall be subject to the limitations set forth in Section 2.2.6)thereto.
Appears in 1 contract
Conversion and Continuation of Outstanding Ratable Advances. Each ABR Advance Floating Rate Advances shall continue as an ABR Advance Floating Rate Advances unless and until such ABR Advance is Floating Rate Advances are either converted into a Eurodollar Advance Eurocurrency Advances in accordance with this Section 2.2.4 2.3.4 or is prepaid are repaid in accordance with Section 2.62.8. Each Eurodollar Eurocurrency Ratable Advance shall continue as a Eurodollar Eurocurrency Ratable Advance of such Type until the end of the then applicable Eurocurrency Interest Period therefor, at which time time:
(a) such Eurodollar Eurocurrency Ratable Advance denominated in Dollars shall be automatically converted into a Floating Rate Advance unless (i) such Eurocurrency Ratable Advance is or was repaid in accordance with Section 2.8 or (ii) the Borrower to which such Eurocurrency Ratable Advance was made shall have given the Agent a Conversion/Continuation Notice (as defined below) requesting that, at the end of such Eurocurrency Interest Period, such Eurocurrency Ratable Advance continue as a Eurocurrency Ratable Advance for the same or another Eurocurrency Interest Period; and
(b) such Eurocurrency Ratable Advance denominated in an Agreed Currency other than Dollars shall be automatically continued as a Eurodollar Eurocurrency Ratable Advance in the same Agreed Currency with an Interest Period interest period of one month unless (i) such Eurodollar Eurocurrency Ratable Advance shall have been either (a) prepaid is or was repaid in accordance with Section 2.62.8 or (ii) the Borrower to which such Eurocurrency Ratable Advance was made shall have given the Agent a Conversion/Continuation Notice (as defined below) requesting that, (b) continued at the end of such Eurocurrency Interest Period, such Eurocurrency Ratable Advance continue as a Eurodollar Eurocurrency Ratable Advance for the same or another Eurocurrency Interest Period in accordance with this Section 2.2.4 or (c) converted into an ABR Advance in accordance with this Section 2.2.4Period. Subject to the terms of Section 2.52.7, the each Borrower may elect from time to time to convert and/or continue the Rate Option applicable to all or any part of a Floating Rate Advance made to such Borrower into a Eurocurrency Ratable Advance into another Rate Option; provided that any conversion or continuation of any Eurodollar Advance shall be made on, and only on, the last day of the Interest Period applicable theretoAdvance. The Such Borrower shall give the Administrative Agent irrevocable notice substantially the form of Exhibit G hereto (a “Rate Option Conversion/Continuation Notice”) of each conversion of an ABR a Floating Rate Advance into a Eurodollar Advance, Eurocurrency Ratable Advance or continuation of a Eurodollar Eurocurrency Ratable Advance or the conversion of a Eurodollar Advance into an ABR Advance, not later than 1:00 p.m. 10:00 a.m. (New York Chicago time) (x) on the Business Day of the conversion of a Eurodollar Advance into an ABR Advance or (y) at least two three Business Days prior to the date of the requested conversion or continuation of a Eurocurrency Ratable Advance into or as a Eurodollar Advance, specifying:
(i) denominated in Dollars and four Business Days prior to the date of the requested date, which shall be a Business Day, of such conversion or continuation;
(ii) the aggregate amount and Rate Option applicable to the Ratable Advance which is to be converted or continued; and
(iii) the amount and Rate Option(s) of Ratable Advance(s) into which such Ratable Advance is to be converted or continued and, in the case of a conversion into or continuation of a Eurodollar AdvanceEurocurrency Ratable Advance denominated in an Agreed Currency other than Dollars, the duration of the Interest Period applicable thereto (which shall be subject to the limitations set forth in Section 2.2.6).specifying:
Appears in 1 contract
Conversion and Continuation of Outstanding Ratable Advances. Each ABR Advance Alternate Base Rate Advances shall continue as an ABR Advance Alternate Base Rate Advances unless and until such ABR Advance is Alternate Base Rate Advances are converted into a Eurodollar Advance in accordance with this Section 2.2.4 or is prepaid in accordance with Section 2.6Ratable Advances. Each Eurodollar Ratable Advance shall continue as a Eurodollar Ratable Advance of such Type until the end of the then applicable Eurodollar Interest Period therefor, at which time such Eurodollar Ratable Advance shall be automatically continued converted into an Alternate Base Rate Advance unless the Borrower shall have given the Agent a Conversion/Continuation Notice requesting that, at the end of such Eurodollar Interest Period, such Eurodollar Ratable Advance continue as a Eurodollar Advance with an Interest Period of one month unless such Eurodollar Advance shall have been either (a) prepaid in accordance with Section 2.6, (b) continued as a Eurodollar Ratable Advance for the same or another Eurodollar Interest Period in accordance with this Section 2.2.4 or (c) converted into an ABR Advance in accordance with this Section 2.2.4Period. Subject to the terms of Section 2.52.7, the Borrower may elect from time to time to convert and/or continue the Rate Option applicable to all or any part of a Ratable Advance of any Type into another Rate Optionany other Type or Types of Ratable Advances; provided that any conversion or continuation of any Eurodollar Ratable Advance shall be made on, and only on, the last day of the Eurodollar Interest Period applicable thereto. The Borrower shall give the Administrative Agent irrevocable notice substantially the form of Exhibit G hereto (a “Rate Option "Conversion/Continuation Notice”") of each conversion of an ABR a Ratable Advance into a Eurodollar Advance, or continuation of a Eurodollar Ratable Advance not later than 10:00 a.m. (Chicago time) at least one Business Day, in the case of a conversion into an Alternate Base Rate Advance, or at least three Business Days, in the case of a conversion into or continuation of a Eurodollar Advance into an ABR Ratable Advance, not later than 1:00 p.m. (New York time) (x) on the Business Day of the conversion of a Eurodollar Advance into an ABR Advance or (y) at least two Business Days prior to the date of the requested conversion or continuation of a Ratable Advance into or as a Eurodollar Advancecontinuation, specifying:
(i) 1. the requested date, which shall be a Business Day, of such conversion or continuation;
(ii) 1. the aggregate amount and Rate Option applicable to the Type of Ratable Advance which is to be converted or continued; and
(iii) 1. the amount and Rate Option(sType(s) of Ratable Advance(s) into which such Ratable Advance is to be converted or continued and, in the case of a conversion into or continuation of a an Eurodollar Ratable Advance, the duration of the Eurodollar Interest Period applicable thereto (which shall be subject to the limitations set forth in Section 2.2.6)thereto.
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