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. (b) Subject to the restrictions specified herein, any Eurodollar 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 Eurodollar Lessor Advances set forth herein, provided, that no Eurodollar Lessor Advance may be continued as such after the date that is one (1) month prior to the Expiration Date, provided, further, no Eurodollar Lessor Advances may be continued as such if an Event of Default has occurred and is continuing as of the last day of the Lessor Yield Period for such Eurodollar Lessor Advance, provided, further, unless a Eurodollar Lessor Advance is not then permitted subject to the terms of this Agreement or the other Operative Agreements, if the Lessee shall fail to give any required notice as described above or otherwise herein, such Lessor Advance (on the last day of such then expiring Lessor Yield Period) shall automatically be continued as a Eurodollar Lessor Advance with a Lessor Yield Period of one (1) month, consistent with the requirements set forth in the definition of the term “Lessor Yield Period”, and provided, further, if such continuation of a Eurodollar Lessor Advance is not permitted pursuant to the terms of this Agreement, such Lessor Advance shall automatically be converted to an ABR Lessor Advance on the last day of such then expiring Lessor Yield Period.

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 Eurodollar 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 Eurodollar SOFR Lessor Advances set forth herein, CHAR1\1917164v13 provided, that no Eurodollar SOFR Lessor Advance may be continued as such after the date that is one (1) month prior to the Expiration Date, provided, further, no Eurodollar SOFR Lessor Advances may be continued as such if an Event of Default has occurred and is continuing as of the last day of the Lessor Yield Period for such Eurodollar SOFR Lessor Advance, provided, further, unless a Eurodollar SOFR Lessor Advance is not then permitted subject to the terms of this Agreement or the other Operative Agreements, if the Lessee shall fail to give any required notice as described above or otherwise herein, such Lessor Advance (on the last day of such then expiring Lessor Yield Period) shall automatically be continued as a Eurodollar SOFR Lessor Advance with a Lessor Yield Period of one (1) month, consistent with the requirements set forth in the definition of the term “Lessor Yield Period”, and provided, further, if such continuation of a Eurodollar SOFR Lessor Advance is not permitted pursuant to the terms of this Agreement, such Lessor Advance shall automatically be converted to an ABR Lessor Advance on the last day of such then expiring Lessor Yield Period.

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 Eurodollar 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 Eurodollar SOFR Lessor Advances set forth herein, provided, that no Eurodollar Lessor Advance may be continued as such after the date that is one (1) month prior to the Expiration Date, provided, further, no Eurodollar Lessor Advances may be continued as such if an Event of Default has occurred and is continuing as of the last day of the Lessor Yield Period for such Eurodollar Lessor Advance, provided, further, unless a Eurodollar Lessor Advance is not then permitted subject to the terms of this Agreement or the other Operative Agreements, if the Lessee shall fail to give any required notice as described above or otherwise herein, such Lessor Advance (on the last day of such then expiring Lessor Yield Period) shall automatically be continued as a Eurodollar Lessor Advance with a Lessor Yield Period of one (1) month, consistent with the requirements set forth in the definition of the term “Lessor Yield Period”, and provided, further, if such continuation of a Eurodollar Lessor Advance is not permitted pursuant to the terms of this Agreement, such Lessor Advance shall automatically be converted to an ABR Lessor Advance on the last day of such then expiring Lessor Yield Period.,