Common use of Conversion and Continuation Options Respecting the Lessor Advances Clause in Contracts

Conversion and Continuation Options Respecting the Lessor Advances. (a) The Lessee may elect from time to time to convert Eurodollar Lessor Advances to ABR Lessor Advances by giving the Agent at least three (3) Business Days’ prior irrevocable notice of such election, provided, that any such conversion of Eurodollar Lessor Advances may only be made on the last day of a Lessor Yield Period with respect thereto, and provided, further, to the extent an Event of Default has occurred and is continuing on the last day of any such Lessor Yield Period, the applicable Eurodollar Lessor Advance shall automatically be converted to an ABR Lessor Advance, and during the continuance of any Event of Default, the Lessee may not elect to convert any Lessor Advance into a Eurodollar Lessor Advance or to continue any Lessor Advance as a Eurodollar Lessor Advance. The Lessee may elect from time to time to convert ABR Lessor Advances to Eurodollar Lessor Advances by giving the Agent at least three (3) Business Days’ prior irrevocable notice of such election. Upon receipt of any such notice, the Agent shall promptly notify each Lessor Party thereof. All or any part of outstanding Eurodollar Lessor Advances or ABR Lessor Advances may be converted as provided herein, provided, that no ABR Lessor Advance may be converted into a Eurodollar Lessor Advance after the date that is one (1) month prior to the Expiration Date.

Conversion and Continuation Options Respecting the Lessor Advances. (a) The Lessee may elect from time to time to convert Eurodollar SOFR Lessor Advances to ABR Lessor Advances by giving the Agent at least three (3) Business Days’ prior irrevocable notice of such election, provided, that any such conversion of Eurodollar SOFR Lessor Advances may only be made on the last day of a Lessor Yield Period with respect thereto, and provided, further, to the extent an Event of Default has occurred and is continuing on the last day of any such Lessor Yield Period, the applicable Eurodollar SOFR Lessor Advance shall automatically be converted to an ABR Lessor Advance, and during the continuance of any Event of Default, the Lessee may not elect to convert any Lessor Advance into a Eurodollar SOFR Lessor Advance or to continue any Lessor Advance as a Eurodollar SOFR Lessor Advance. The Lessee may elect from time to time to convert ABR Lessor XXX Xxxxxx Advances to Eurodollar SOFR Lessor Advances by giving the Agent at least three (3) Business Days’ prior irrevocable notice of such election. Upon receipt of any such notice, the Agent shall promptly notify each Lessor Party thereof. All or any part of outstanding Eurodollar SOFR Lessor Advances or ABR Lessor Advances may be converted as provided herein, provided, that no ABR Lessor Advance may be converted into a Eurodollar SOFR Lessor Advance after the date that is one (1) month prior to the Expiration Date.

Conversion and Continuation Options Respecting the Lessor Advances. (a) The Lessee may elect from time to time to convert Eurodollar SOFR Lessor Advances to ABR Lessor Advances by giving the Agent at least three (3) Business Days’ prior irrevocable notice of such election, provided, that any such conversion of Eurodollar SOFR Lessor Advances may only be made on the last day of a Lessor Yield Period with respect thereto, and provided, further, to the extent an Event of Default has occurred and is continuing on the last day of any such Lessor Yield Period, the applicable Eurodollar SOFR Lessor Advance shall automatically be converted to an ABR Lessor Advance, and during the continuance of any Event of Default, the Lessee may not elect to convert any Lessor Advance into a Eurodollar SOFR Lessor Advance or to continue any Lessor Advance as a Eurodollar SOFR Lessor Advance. The Lessee may elect from time to time to convert ABR Lessor XXX Xxxxxx Advances to Eurodollar SOFR Lessor Advances by giving the Agent at least three (3) Business Days’ prior irrevocable notice of such election. Upon receipt of any such notice, the Agent shall promptly notify each Lessor Party thereof. All or any part of outstanding Eurodollar SOFR Lessor Advances or ABR Lessor Advances may be converted as provided herein, provided, that no ABR Lessor Advance may be converted into a Eurodollar SOFR Lessor Advance after the date that is one (1) month prior to the Expiration Date.. (b) Subject to the restrictions specified herein, any SOFR Lessor Advance may be continued as such upon the expiration of the current Lessor Yield Period with respect thereto by the Lessee giving irrevocable notice to the Agent, in accordance with the applicable notice provision for the conversion of ABR Lessor Advances to SOFR Lessor Advances set forth herein,