Common use of Conversion and Designation of Interest Periods Clause in Contracts

Conversion and Designation of Interest Periods. (a) On any Business Day, upon notice given to the Administrative Agent not later than 11:00 a.m. (New York, New York time) on the third Business Day prior to the date of the proposed Conversion or Continuation and subject to the provisions of Section 10.1 and so long as no Default or Event of Default has occurred and is continuing, AGCO may Convert all or any portion of the Loans (but not Letter of Credit Advances) in U.S. Dollars of one Type comprising the same Borrowing into Loans of another Type, or Continue any LIBO Rate Loans for an additional Interest Period; provided, if (i) less than all LIBO Rate Loans of any Class are Converted or Continued, after such Conversion or Continuation, not less than the minimum amounts specified in Section 2.1(a)(i) (which minimums shall apply equally to any Term Loan Borrowings Converted hereunder) shall Continue as LIBO Rate Loans of such Class; (ii) less than all Loans comprising part of the same Borrowing are Converted or Continued, the portion of the Loans Converted or Continued must at least equal the minimum aggregate principal amount of a Borrowing permitted under Section 2.1(a)(i) (which minimum amount shall apply equally to any Term Loan Borrowings Converted hereunder) and all Lenders’ Loans comprising the Borrowing to be Converted or Continued in part shall be Converted or Continued ratably in accordance with their applicable Pro Rata Shares; and (iii) each Conversion of less than all Loans comprising part of the same Borrowing shall be deemed to be an additional Borrowing for purposes of Section 2.7(d), and no such Conversion or Continuation of any Loans may result in there being outstanding more separate LIBO Rate Loan Borrowings than permitted under Section 2.7(d). Each such notice of Conversion or Continuation shall, within the restrictions specified above, specify (i) the date of such Conversion, or the last date of the Interest Period of the Loans to be Continued, (ii) the Loans to be Converted or Continued, and (iii) if such Conversion is into LIBO Rate Loans or a Continuation of LIBO Rate Loans, the duration and the expiration date of the new Interest Period for such Loans. Each notice of Conversion or Continuation shall be irrevocable and binding on AGCO. If a Borrower requests a Conversion to or Continuation of a LIBO Rate Loan but does not specify an Interest Period, then Borrowers shall be deemed to have selected an Interest Period of one month’s duration. (b) On the date on which the aggregate unpaid principal amount of LIBO Rate Loans of any Class denominated in U.S. Dollars shall be reduced, by payment or prepayment or otherwise, to less than U.S. $5,000,000, such Loans shall automatically Convert into Base Rate Loans. (c) If a Borrower fails to deliver a timely and properly completed notice of Conversion or Continuation with respect to a LIBO Rate Loan (as set forth in clause (a) above) prior to the end of the Interest Period applicable thereto, such Borrower shall be automatically deemed to have requested that such LIBO Rate Loan Continue as a LIBO Rate Loan with a one month Interest Period, subject to such Borrower’s right to repay such LIBO Rate Loan at the end of such original Interest Period (which repayment shall be accompanied by any costs under Section 10.2), (d) No Borrower shall request a LIBO Rate Loan if, after giving effect thereto, there would be more than twenty (20) LIBO Rate Loan Borrowings outstanding.

Conversion and Designation of Interest Periods. (a) On any Business Day, upon notice given to the Administrative Agent not later than 11:00 a.m. A.M. (New York, New York time) on the third Business Day prior to the date of the proposed Conversion or Continuation and subject to the provisions of Section 10.1 11.1 and so long as no Default or Event of Default has occurred and is continuing, AGCO may Convert all or any portion of the Revolving Loans (but not Letter of Credit Advances) in U.S. Dollars of one Type comprising the same Borrowing into Revolving Loans of another Type, or Continue any LIBO Rate Loans for an additional Interest Period; provided, if (i) less than all LIBO Rate Loans of any Class are Converted or ContinuedConverted, after such Conversion or ContinuationConversion, not less than the relevant minimum amounts amount specified in Section 2.1(a)(i) (which minimums 2.1 shall apply equally to any Term Loan Borrowings Converted hereunder) shall Continue continue as LIBO Rate Loans of such ClassLoans; (ii) less than all Loans comprising part of the same Revolving Loan Borrowing are Converted or ContinuedConverted, the portion of the Loans Converted or Continued must at least equal the minimum aggregate principal amount of a Borrowing permitted under Section 2.1(a)(i) (which minimum amount shall apply equally to any Term Loan Borrowings Converted hereunder) 2.1 and all Lenders’ Loans comprising the Borrowing to be Converted or Continued in part shall be Converted or Continued ratably in accordance with their applicable Pro Rata Shares; and (iii) each Conversion of less than all Loans comprising part of the same Revolving Loan Borrowing shall be deemed to be an additional Borrowing for purposes of Section 2.7(d2.2(d), and no such Conversion or Continuation of any Loans may result in there being outstanding more separate LIBO Rate Revolving Loan Borrowings than permitted under Section 2.7(d2.2(d). Each such notice of Conversion or Continuation shall, within the restrictions specified above, specify (i) the date of such Conversion, or the last date of the Interest Period of the Loans to be Continued, (ii) the Loans to be Converted or Continued, and (iii) if such Conversion is into LIBO Rate Loans or a Continuation of LIBO Rate Loans, the duration and the expiration date of the new initial Interest Period for such Loans. Each notice of Conversion or Continuation shall be irrevocable and binding on AGCO. If a Borrower requests a Conversion to or Continuation of a LIBO Rate Loan but does not specify an Interest Period, then Borrowers shall be deemed to have selected an Interest Period of one month’s duration. (b) On the date on which the aggregate unpaid principal amount of LIBO Rate Loans of any Class denominated in U.S. Dollars shall be reduced, by payment or prepayment or otherwise, to less than U.S. $5,000,000, such Loans shall automatically Convert into Base Rate Loans. (c) If a Borrower fails shall fail to deliver a timely and properly completed notice select the duration of Conversion or Continuation with respect to a any Interest Period for any LIBO Rate Loan (as set forth Loans in clause (a) above) prior to accordance with the end provisions contained in the definition of “Interest Period”, the Interest Period applicable thereto, Administrative Agent will forthwith so notify such Borrower shall be automatically deemed to have requested that and the Lenders, whereupon each such LIBO Rate Loan Continue as will automatically, on the last day of the then-existing Interest Period therefor, convert into a LIBO Rate Loan with a one month Interest Period, subject to such Borrower’s right to repay such LIBO Rate Loan at the end of such original Interest Period (which repayment shall be accompanied by any costs under Section 10.2),. (d) No Borrower shall request a LIBO Rate Loan if, after giving effect thereto, there would be more than twenty ten (2010) LIBO Rate Loans outstanding under the Revolving Loan Borrowings outstandingFacility.

Conversion and Designation of Interest Periods. (a) On any Business Day, upon notice given to the Administrative Agent not later than 11:00 a.m. (New York, New York time) on the third Business Day (or third U.S. Government Securities Business Day for SOFR Loans) prior to the date of the proposed Conversion or Continuation and subject to the provisions of Section 10.1 Sections 11.1 and 11.6 and so long as no Default or Event of Default has occurred and is continuing, AGCO may Convert all or any portion of the Loans (but not Letter of Credit Advances) in U.S. Dollars of one Type comprising the same Borrowing into Loans of another Type, or Continue any LIBO Rate Eurocurrency Loans or SOFR Loans for an additional Interest Period; provided, if (i) less than all LIBO Rate Loans of any Class are Converted or Continued, after such Conversion or Continuation, not less than the minimum amounts specified in Section 2.1(a)(i) (which minimums shall apply equally to any Term Loan Borrowings Converted hereunder) shall Continue as LIBO Rate Loans of such ClassLoans; (ii) less than all Loans comprising part of the same Borrowing are Converted or Continued, the portion of the Loans Converted or Continued must at least equal the minimum aggregate principal amount of a Borrowing permitted under Section 2.1(a)(i) (which minimum amount shall apply equally to any Term Loan Borrowings Converted hereunder) and all Lenders’ Loans comprising the Borrowing to be Converted or Continued in part shall be Converted or Continued ratably in accordance with their applicable Pro Rata Shares; and (iii) each Conversion of less than all Loans comprising part of the same Borrowing shall be deemed to be an additional Borrowing for purposes of Section 2.7(d), and no such Conversion or Continuation of any Loans may result in there being outstanding more separate LIBO Rate Loan Borrowings than permitted under Section 2.7(d). Each such notice of Conversion or Continuation shall, within the restrictions specified above, specify (i) the date of such Conversion, or the last date of the Interest Period of the Loans to be Continued, (ii) the Loans to be Converted or Continued, and (iii) if such Conversion is into LIBO Rate Loans or a Continuation of LIBO Rate Loans, the duration and the expiration date of the new Interest Period for such Loans. Each notice of Conversion or Continuation shall be irrevocable and binding on AGCO. If a Borrower requests a Conversion to or Continuation of a LIBO Rate Loan but does not specify an Interest Period, then Borrowers shall be deemed to have selected an Interest Period of one month’s duration. (b) On the date on which the aggregate unpaid principal amount of LIBO Rate SOFR Loans of any Class denominated in U.S. Dollars shall be reduced, by payment or prepayment or otherwise, to less than U.S. $5,000,00025,000,000, such Loans shall automatically Convert into Base Rate Loans. (ci) If a Borrower fails to deliver a timely and properly completed notice of Conversion or Continuation with respect to a LIBO Rate Eurocurrency Loan (as set forth in clause (a) above) prior to the end of the Interest Period applicable thereto, such Borrower shall be automatically deemed to have requested that such LIBO Rate Loan Continue as a LIBO Rate Eurocurrency Loan with a one month Interest Period, subject to such Borrower’s right to repay such LIBO Rate Loan at the end of such original Interest Period (which repayment shall be accompanied by any costs under Section 10.211.2),, and (ii) if a Borrower fails to deliver a timely and properly completed notice of Conversion or Continuation with respect to a SOFR Loan (as set forth in clause (a) above) prior to the end of the Interest Period applicable thereto, such Borrowing shall be automatically continued as a SOFR Loan with a one month Interest Period, subject to such Borrower’s right to repay such Loan at the end of such original Interest Period (which repayment shall be accompanied by any costs under Section 11.2). (d) No Borrower shall request a LIBO Rate Eurocurrency Loan or SOFR Loan if, after giving effect thereto, there would be more than twenty five (205) LIBO Rate Eurocurrency Loan Borrowings and SOFR Loan Borrowings in the aggregate outstanding. (e) During the continuance of any Event of Default, and upon the election of the Required Lenders, during the continuance of any Default: (i) the obligation of the Lenders to make, continue or convert any Loans into, Eurocurrency Loans or SOFR Loans shall be suspended; (ii) if an Offshore Currency is the affected currency, the Borrowers will, on the last day of the then-existing Interest Period therefor, prepay each Eurocurrency Loan in the affected currency (provided, that if the affected Borrower shall fail to prepay such Eurocurrency Loans in the affected currency as required under this clause (ii), on and after the date such prepayment is due, the interest for the Eurocurrency Loans in the affected currency

Conversion and Designation of Interest Periods. (a) On any Business Day, upon notice given to the Administrative Appropriate Agent not later than 11:00 a.m. A.M. (New York, New York City time) on the third Business Day prior to the date of the proposed Conversion or Continuation and subject to the provisions of Section 10.1 and so long as no Default or Event of Default has occurred and is continuing11.1, (i) AGCO may Convert all or any portion of the Loans Multi-Currency Advances (but not Letter of Credit Advances) in U.S. Dollars dollars of one Type comprising the same Borrowing into Loans Advances of another Type (other than Advances by way of Bankers' Acceptances), and (ii) the Canadian Subsidiary may Convert all or any portion of the Canadian Facility Advances (but not Letter of Credit Advances) of one Type comprising the same Borrowing into Advances of another Type, or Continue ; provided that (w) any Conversion of LIBO Rate Loans Advances into Base Rate Advances or into Advances by way of Bankers' Acceptances shall be made only on the last day of an Interest Period for such LIBO Rate Advances; any Conversion of Base Rate Advances into LIBO Rate Advances or into Advances by way of Bankers' Acceptances shall be in an additional Interest amount not less than the relevant minimum amount specified in Section 2.1; any Conversion of Advances by way of Bankers' Acceptances into Base Rate Advances shall be made only on the last day of the relevant Contract Period; providedif less than all Advances by way of Bankers' Advances or all LIBO Rate Advances are Converted, after such Conversion not less than the relevant minimum amount specified in Section 2.13(a) shall continue as Advances by way of Bankers' Acceptances or LIBO Rate Advances, as applicable; if (i) less than all LIBO Rate Loans of any Class Advances are Converted or ContinuedConverted, after such Conversion or ContinuationConversion, not less than the relevant minimum amounts amount specified in Section 2.1(a)(i) (which minimums 2.1 shall apply equally to any Term Loan Borrowings Converted hereunder) shall Continue continue as LIBO Rate Loans of such ClassAdvances; (iix) if less than all Loans Advances comprising part of the same Borrowing are Converted or ContinuedConverted, the portion of the Loans Advances Converted or Continued must at least equal the minimum aggregate principal amount of a Borrowing permitted under Section 2.1(a)(i) (which minimum amount shall apply equally to any Term Loan Borrowings Converted hereunder) 2.1 and all Lenders’ Loans ' Advances comprising the Borrowing to be Converted or Continued in part shall be Converted or Continued ratably in accordance with their applicable Pro Rata Shares; and (iiiy) each Conversion of less than all Loans Advances comprising part of the same Borrowing shall be deemed to be an additional Borrowing for purposes of Section 2.7(d2.2(d), and no such Conversion or Continuation of any Loans Advances may result in there being outstanding more separate LIBO Rate Loan Borrowings than permitted under Section 2.7(d2.2(d); and (z) no Advances may be Converted into LIBO Rate Advances or into Advances by way of Bankers' Acceptances while a Default has occurred and is continuing. Each such notice of Conversion or Continuation shall, within the restrictions specified above, specify (iw) the date of such Conversion, or (x) the last date of the Interest Period of the Loans Advances to be ContinuedConverted, (ii) the Loans to be Converted or Continued, and (iiiy) if such Conversion is into LIBO Rate Loans or a Continuation of LIBO Rate LoansAdvances, the duration and the expiration date of the new initial Interest Period for such LoansAdvances, and (z) if such Conversion is into Advances by way of Bankers' Acceptances, the duration of the Contract Period for such Advances. Each notice of Conversion or Continuation shall be irrevocable and binding on AGCO. If a Borrower requests a Conversion to or Continuation of a LIBO Rate Loan but does not specify an Interest Period, then Borrowers shall be deemed to have selected an Interest Period of one month’s duration. (b) On the date on which the aggregate unpaid principal amount of LIBO Rate Loans of any Class Advances denominated in U.S. Dollars dollars shall be reduced, by payment or prepayment or otherwise, to less than U.S. $5,000,000, such Loans Advances shall automatically Convert into Base Rate LoansAdvances, and if the aggregate face amount of outstanding Bankers' Acceptances shall be reduced by payment or prepayment or otherwise, to less than Cnd. $5,000,000, the Advances by way of such Bankers' Acceptances shall automatically Convert, on the last day of the relevant Contract Period, into Base Rate Advances. (c) If a Borrower fails shall fail to deliver a timely select the duration of any Interest Period for any LIBO Rate Advances in accordance with the provisions contained in the definition of "Interest Period" in Section 1.1, the Appropriate Agent will forthwith so notify such Borrower and properly completed notice the Appropriate Lenders, whereupon each such LIBO Rate Advance will automatically, on the last day of Conversion or Continuation with respect to the then-existing Interest Period therefor, convert into a LIBO Rate Loan (as set forth in clause (a) above) prior to the end of the Interest Period applicable thereto, such Borrower shall be automatically deemed to have requested that such LIBO Rate Loan Continue as a LIBO Rate Loan Advance with a one month Interest Period, subject to such Borrower’s right to repay such LIBO Rate Loan at the end of such original Interest Period (which repayment shall be accompanied by any costs under Section 10.2), (d) No Borrower shall request a LIBO Rate Loan if, after giving effect thereto, there would be more than twenty (20) LIBO Rate Loan Borrowings outstanding.

Conversion and Designation of Interest Periods. (a) On any Business Day, upon notice given to the Administrative Agent not later than 11:00 a.m. (New York, New York time) on the third Business Day prior to the date of the proposed Conversion or Continuation and subject to the provisions of Section 10.1 and so long as no Default or Event of Default has occurred and is continuing, AGCO may Convert all or any portion of the Loans (but not Letter of Credit Advances) in U.S. Dollars of one Type comprising the same Borrowing into Loans of another Type, or Continue any LIBO Non-Base Rate Loans Loan for an additional Interest Period; provided, if (i) less than all LIBO Non-Base Rate Loans of any Class are Converted or Continued, after such Conversion or Continuation, not less than the minimum amounts specified in Section 2.1(a)(i) 2.1 (which minimums shall apply equally to any Incremental Term Loan Borrowings Converted hereunder) shall Continue as LIBO Non-Base Rate Loans of such Class; (ii) less than all Loans comprising part of the same Borrowing are Converted or Continued, the portion of the Loans Converted or Continued must at least equal the minimum aggregate principal amount of a Borrowing permitted under Section 2.1(a)(i) 2.1 (which minimum amount minimums shall apply equally to any Incremental Term Loan Borrowings Converted hereunder) and all Lenders’ ' Loans comprising the Borrowing to be Converted or Continued in part shall be Converted or Continued ratably in accordance with their applicable Pro Rata Shares; and (iii) each Conversion of less than all Loans comprising part of the same Borrowing shall be deemed to be an additional Borrowing for purposes of Section 2.7(d), and no such Conversion or Continuation of any Loans may result in there being outstanding more separate LIBO Borrowings of Non-Base Rate Loan Borrowings Loans than permitted under Section 2.7(d). Each such notice of Conversion or Continuation shall, within the restrictions specified above, specify (i) the date of such Conversion, or the last date of the Interest Period of the Loans to be Continued, (ii) the Loans to be Converted or Continued, and (iii) if such Conversion is into LIBO Rate Loans or a Continuation of LIBO Rate Loans, the duration and the expiration date of the new Interest Period for such Loans. Each notice of Conversion or Continuation shall be irrevocable and binding on AGCO. If a Borrower requests a Conversion to or Continuation of a LIBO Rate Loan but does not specify an Interest Period, then Borrowers shall be deemed to have selected an Interest Period of one month’s duration.or (b) On the date on which the aggregate unpaid principal amount of LIBO Non-Base Rate Loans Loan of any Class denominated in U.S. Dollars shall be reduced, by payment or prepayment or otherwise, to less than U.S. $US$5,000,000, such Loans shall automatically Convert into Base Rate Loans. (c) If a Borrower fails to deliver a timely and properly completed notice of Conversion or Continuation with respect to a LIBO Non-Base Rate Loan (as set forth in clause (a) above) prior to the end of the Interest Period applicable thereto, such Borrower shall be automatically deemed to have requested that such LIBO Non-Base Rate Loan Continue as a LIBO Non-Base Rate Loan with a one month Interest Period, subject to such Borrower’s 's right to repay such LIBO Non-Base Rate Loan Loan, at the end of such original Interest Period (which repayment shall be accompanied by any costs under Section 10.2), , (d) No Borrower shall request a LIBO Non-Base Rate Loan if, after giving effect thereto, there would be be, in aggregate, more than twenty (20) LIBO Borrowings of Non- Base Rate Loan Borrowings Loans outstanding.

Conversion and Designation of Interest Periods. (a) On any Business Day, upon notice given to the Administrative Agent not later than 11:00 a.m. (New York, New York time) on the third Business Day prior to the date of the proposed Conversion or Continuation and subject to the provisions of Section 10.1 and so long as no Default or Event of Default has occurred and is continuing, AGCO may Convert all or any portion of the Loans (but not Letter of Credit Advances) in U.S. Dollars of one Type comprising the same Borrowing into Loans of another Type, or Continue any LIBO Rate Loans for an additional Interest Period; provided, if (i) less than all LIBO Rate Loans of any Class are Converted or Continued, after such Conversion or Continuation, not less than the minimum amounts specified in Section 2.1(a)(i) (which minimums shall apply equally to any Incremental Term Loan Borrowings Converted hereunder) shall Continue as LIBO Rate Loans of such Class; (ii) less than all Loans comprising part of the same Borrowing are Converted or Continued, the portion of the Loans Converted or Continued must at least equal the minimum aggregate principal amount of a Borrowing permitted under Section 2.1(a)(i) (which minimum amount shall apply equally to any Incremental Term Loan Borrowings Converted hereunder) and all Lenders’ Loans comprising the Borrowing to be Converted or Continued in part shall be Converted or Continued ratably in accordance with their applicable Pro Rata Shares; and (iii) each Conversion of less than all Loans comprising part of the same Borrowing shall be deemed to be an additional Borrowing for purposes of Section 2.7(d), and no such Conversion or Continuation of any Loans may result in there being outstanding more separate LIBO Rate Loan Borrowings than permitted under Section 2.7(d). Each such notice of Conversion or Continuation shall, within the restrictions specified above, specify (i) the date of such Conversion, or the last date of the Interest Period of the Loans to be Continued, (ii) the Loans to be Converted or Continued, and (iii) if such Conversion is into LIBO Rate Loans or a Continuation of LIBO Rate Loans, the duration and the expiration date of the new Interest Period for such Loans. Each notice of Conversion or Continuation shall be irrevocable and binding on AGCO. If a Borrower requests a Conversion to or Continuation of a LIBO Rate Loan but does not specify an Interest Period, then Borrowers shall be deemed to have selected an Interest Period of one month’s duration. (b) On the date on which the aggregate unpaid principal amount of LIBO Rate Loans of any Class denominated in U.S. Dollars shall be reduced, by payment or prepayment or otherwise, to less than U.S. $5,000,000, such Loans shall automatically Convert into Base Rate Loans. (c) If a Borrower fails to deliver a timely and properly completed notice of Conversion or Continuation with respect to a LIBO Rate Loan (as set forth in clause (a) above) prior to the end of the Interest Period applicable thereto, such Borrower shall be automatically deemed to have requested that such LIBO Rate Loan Continue as a LIBO Rate Loan with a one month Interest Period, subject to such Borrower’s right to repay such LIBO Rate Loan at the end of such original Interest Period (which repayment shall be accompanied by any costs under Section 10.2), (d) No Borrower shall request a LIBO Rate Loan if, after giving effect thereto, there would be more than twenty (20) LIBO Rate Loan Borrowings outstanding.

Conversion and Designation of Interest Periods. (a) On any Business Day, upon notice given to the Administrative Appropriate Agent not later than 11:00 a.m. A.M. (New York, New York City time) on the third Business Day prior to the date of the proposed Conversion or Continuation and subject to the provisions of Section 10.1 11.1 and so long as no Default or Sharing Event of Default has occurred and is continuingshall have occurred, (i) AGCO may Convert all or any portion of the Multi-Currency Revolving Loans (but not Letter of Credit Advances) in U.S. Dollars of one Type comprising the same Borrowing into Revolving Loans of another Type (other than Revolving Loans by way of Bankers' Acceptances), (ii) AGCO may Convert all or any portion of the Term Loans in U.S. Dollars of one Type into Term Loans of another Type and (iii) the Canadian Subsidiary may Convert all or any portion of the Canadian Revolving Loans (but not Letter of Credit Advances) of one Type comprising the same Borrowing into Revolving Loans of another Type, or Continue ; provided that (w) any Conversion of LIBO Rate Loans into Base Rate Loans or into Revolving Loans by way of Bankers' Acceptances shall be made only on the last day of an Interest Period for such LIBO Rate Loans; any Conversion of Base Rate Loans into LIBO Rate Loans or into Revolving Loans by way of Bankers' Acceptances shall be in an additional Interest amount not less than the relevant minimum amount specified in Section 2.1; any Conversion of Revolving Loans by way of Bankers' Acceptances into Base Rate Loans shall be made only on the last day of the relevant Contract Period; providedif less than all Revolving Loans by way of Bankers' Advances or all LIBO Rate Loans are Converted, after such Conversion not less than the relevant minimum amount specified in Section 2.14(a) shall continue as Revolving Loans by way of Bankers' Acceptances or LIBO Rate Loans, as applicable; if (i) less than all LIBO Rate Loans of any Class are Converted or ContinuedConverted, after such Conversion or ContinuationConversion, not less than the relevant minimum amounts amount specified in Section 2.1(a)(i) (which minimums 2.1 shall apply equally to any Term Loan Borrowings Converted hereunder) shall Continue continue as LIBO Rate Loans of such ClassLoans; (iix) if less than all Loans comprising part of the same Revolving Loan Borrowing are Converted or ContinuedConverted, the portion of the Loans Converted or Continued must at least equal the minimum aggregate principal amount of a Borrowing permitted under Section 2.1(a)(i) (which minimum amount shall apply equally to any Term Loan Borrowings Converted hereunder) 2.1 and all Lenders’ ' Loans comprising the Borrowing to be Converted or Continued in part shall be Converted or Continued ratably in accordance with their applicable Pro Rata Shares; and (iiiy) each Conversion of less than all Loans comprising part of the same Revolving Loan Borrowing shall be deemed to be an additional Borrowing for purposes of Section 2.7(d2.3(d), and no such Conversion or Continuation of any Loans may result in there being outstanding more separate LIBO Rate Revolving Loan Borrowings than permitted under Section 2.7(d2.3(d); and (z) no Loans may be Converted into LIBO Rate Loan or into Revolving Loans by way of Bankers' Acceptances while a Default has occurred and is continuing. Each such notice of Conversion or Continuation shall, within the restrictions specified above, specify (iw) the date of such Conversion, or the last date of the Interest Period of the Loans to be Continued, (iix) the Loans to be Converted or ContinuedConverted, and (iiiy) if such Conversion is into LIBO Rate Loans or a Continuation of LIBO Rate Loans, the duration and the expiration date of the new initial Interest Period for such Loans, and (z) if such Conversion is into Revolving Loans by way of Bankers' Acceptances, the duration of the Contract Period for such Revolving Loans. Each notice of Conversion or Continuation shall be irrevocable and binding on AGCO. If a Borrower requests a Conversion to or Continuation of a LIBO Rate Loan but does not specify an Interest Period, then Borrowers shall be deemed to have selected an Interest Period of one month’s duration. (b) On the date on which the aggregate unpaid principal amount of LIBO Rate Loans of any Class denominated in U.S. Dollars shall be reduced, by payment or prepayment or otherwise, to less than U.S. $5,000,000, such Loans shall automatically Convert into Base Rate Loans, and if the aggregate face amount of outstanding Bankers' Acceptances shall be reduced by payment or prepayment or otherwise, to less than Cnd. $5,000,000, the Revolving Loans by way of such Bankers' Acceptances shall automatically Convert, on the last day of the relevant Contract Period, into Base Rate Loans. (c) If a Borrower fails shall fail to deliver a timely and properly completed notice select the duration of Conversion or Continuation with respect to a any Interest Period for any LIBO Rate Loan (as set forth Loans in clause (a) above) prior to accordance with the end provisions contained in the definition of "Interest Period", the Interest Period applicable thereto, Appropriate Agent will forthwith so notify such Borrower shall be automatically deemed to have requested that and the Appropriate Lenders, whereupon each such LIBO Rate Loan Continue as will automatically, on the last day of the then-existing Interest Period therefor, convert into a LIBO Rate Loan with a one month Interest Period, subject to such Borrower’s right to repay such LIBO Rate Loan at the end of such original Interest Period (which repayment shall be accompanied by any costs under Section 10.2),. (d) No Borrower If the Canadian Subsidiary shall request fail to select the duration of any Contract Period for any Revolving Loans by way of Bankers' Acceptances in accordance with the provisions contained in the definition of "Contract Period," the Canadian Administrative Agent will forthwith so notify the Canadian Subsidiary and the Appropriate Lenders, whereupon each such Revolving Loan by way of Banker's Acceptances will automatically, on the last day of the then-existing Contract Period therefor, Convert into a LIBO Base Rate Loan if, after giving effect thereto, there would be more than twenty (20) LIBO Rate Loan Borrowings outstandingLoan.

Conversion and Designation of Interest Periods. (ai) On Dealer may on any Business Day, upon notice given to the Administrative Agent DFS not later than 11:00 a.m. (New YorkSan Francisco, New York California time) on the third Business Day prior to the date of the proposed Conversion or Continuation and subject to the provisions of Section 10.1 and so long as no Default or Event of Default has occurred and is continuingConversion, AGCO may Convert all or any portion of the Supplemental Inventory Loans; provided that: (1) any conversion of LIBOR Loans (but not Letter of Credit Advances) in U.S. Dollars of one Type comprising the same Borrowing into Loans of another Type, or Continue any LIBO Prime Rate Loans shall be made only on the last day of an Interest Period for an additional Interest Periodsuch LIBOR Loans; provided, if (i) less than all LIBO any conversion of Prime Rate Loans of any Class are Converted or Continuedinto LIBOR Loans, after such Conversion or Continuation, shall be in an amount not less than the minimum amounts amount specified in Section 2.1(a)(i) 29.3; (which minimums shall apply equally to any Term Loan Borrowings Converted hereunder) shall Continue as LIBO Rate Loans of such Class; (ii) less than all Loans comprising part of the same Borrowing are Converted or Continued, the portion of the Loans Converted or Continued must at least equal the minimum aggregate principal amount of a Borrowing permitted under Section 2.1(a)(i) (which minimum amount shall apply equally to any Term Loan Borrowings Converted hereunder) and all Lenders’ Loans comprising the Borrowing to be Converted or Continued in part shall be Converted or Continued ratably in accordance with their applicable Pro Rata Shares; and (iii2) each Conversion of less than all Supplemental Inventory Loans comprising part of the same Borrowing borrowing shall be deemed to be an additional Borrowing Supplemental Inventory Loan for purposes of Section 2.7(d), and 29.3; and (3) no such Conversion or Continuation of any Prime Rate Loans may result in there being outstanding more separate LIBO Rate Loan Borrowings than permitted be Converted into LIBOR Loans while a default under Section 2.7(d)this Agreement or any event which with notice, the passage of time, or both, would constitute a default, has occurred and is continuing. Each such notice of Conversion or Continuation shall, within the restrictions specified above, specify (ix) the date of such Conversion, or the last date of the Interest Period of the Loans to be Continuedconversion, (iiy) the Supplemental Inventory Loans to be Converted or Continued, and (iiiz) if such Conversion conversion is into LIBO Rate Loans or a Continuation of LIBO Rate LIBOR Loans, the duration and the expiration date of the new initial Interest Period for such Supplemental Inventory Loans. Each notice of Conversion or Continuation shall be irrevocable and binding on AGCO. If a Borrower requests a Conversion to or Continuation of a LIBO Rate Loan but does not specify an Interest Period, then Borrowers shall be deemed to have selected an Interest Period of one month’s durationDealer. (bii) On the date on which the aggregate unpaid principal amount of LIBO Rate LIBOR Loans of any Class denominated in U.S. Dollars shall be reduced, by payment or prepayment or otherwise, to less than U.S. One Million Dollars ($5,000,0001,000,000.00), such LIBOR Loans shall automatically Convert into Base Prime Rate Loans. (ciii) If a Borrower fails Dealer shall fail to deliver a timely and properly completed notice select the duration of Conversion or Continuation any Interest Period for any LIBOR Loans in accordance with respect to a LIBO Rate the provisions contained in the definition of "Interest Period", DFS will forthwith so notify Dealer, whereupon each such LIBOR Loan (as set forth in clause (a) above) prior to will automatically on the end last day of the then-existing Interest Period applicable thereto, such Borrower shall be automatically deemed to have requested that such LIBO therefor Convert into a Prime Rate Loan Continue as a LIBO Rate Loan with a one month Interest Period, subject to such Borrower’s right to repay such LIBO Rate Loan at the end of such original Interest Period (which repayment shall be accompanied by any costs under Section 10.2), (d) No Borrower shall request a LIBO Rate Loan if, after giving effect thereto, there would be more than twenty (20) LIBO Rate Loan Borrowings outstandingLoan.

Conversion and Designation of Interest Periods. (ai) On Dealer may on any Business Day, upon notice given to the Administrative Agent DFS not later than 11:00 a.m. A.M. (New York, New York NY time) on the third Business Day prior to the date of the proposed Conversion or Continuation and subject to the provisions of Section 10.1 and so long as no Default or Event of Default has occurred and is continuingConversion, AGCO may Convert all or any portion of the Loans; provided that: (1) any conversion of LIBOR Loans (but not Letter of Credit Advances) in U.S. Dollars of one Type comprising the same Borrowing into Loans of another Type, or Continue any LIBO Prime Rate Loans shall be made only on the last day of an Interest Period for an additional Interest Periodsuch LIBOR Loans; provided, if (i) less than all LIBO any conversion of Prime Rate Loans of any Class are Converted or Continuedinto LIBOR Loans, after such Conversion or Continuation, shall be in an amount not less than the minimum amounts amount specified in Section 2.1(a)(i) 2.1.1; (which minimums shall apply equally to any Term Loan Borrowings Converted hereunder) shall Continue as LIBO Rate Loans of such Class; (ii) less than all Loans comprising part of the same Borrowing are Converted or Continued, the portion of the Loans Converted or Continued must at least equal the minimum aggregate principal amount of a Borrowing permitted under Section 2.1(a)(i) (which minimum amount shall apply equally to any Term Loan Borrowings Converted hereunder) and all Lenders’ Loans comprising the Borrowing to be Converted or Continued in part shall be Converted or Continued ratably in accordance with their applicable Pro Rata Shares; and (iii2) each Conversion of less than all Loans comprising part of the same Borrowing borrowing shall be deemed to be an additional Borrowing Loan for purposes of Section 2.7(d)2.1.1, and no such Conversion or Continuation of any Loans may result in there being outstanding more separate LIBO Rate Loan Borrowings Loans than permitted under Section 2.7(d)2.1.1; and (3) no Prime Rate Loans may be Converted into LIBOR Loans while a Default or any event which with notice, the passage of time, or both, would constitute a Default, has occurred and is continuing. Each such notice of Conversion or Continuation shall, within the restrictions specified above, specify (ix) the date of such Conversion, or the last date of the Interest Period of the Loans to be Continued, (iiy) the Loans to be Converted or Continued, and (iiiz) if such Conversion conversion is into LIBO Rate Loans or a Continuation of LIBO Rate LIBOR Loans, the duration and the expiration date of the new initial Interest Period for such Loans. Each notice of Conversion or Continuation shall be irrevocable and binding on AGCO. If a Borrower requests a Conversion to or Continuation of a LIBO Rate Loan but does not specify an Interest Period, then Borrowers shall be deemed to have selected an Interest Period of one month’s durationthe Dealer. (bii) On the date on which the aggregate unpaid principal amount of LIBO Rate LIBOR Loans of any Class denominated in U.S. Dollars shall be reduced, by payment or prepayment or otherwise, to less than U.S. $5,000,000100,000, such LIBOR Loans shall automatically Convert into Base Prime Rate Loans. (ciii) If a Borrower fails Dealer shall fail to deliver a timely and properly completed notice select the duration of Conversion or Continuation any Interest Period for any LIBOR Loans in accordance with respect to a LIBO Rate the provisions contained in the definition of "Interest Period", DFS will forthwith so notify Dealer, whereupon each such LIBOR Loan (as set forth in clause (a) above) prior to will automatically on the end last day of the then-existing Interest Period applicable thereto, such Borrower shall be automatically deemed to have requested that such LIBO therefor Convert into a Prime Rate Loan Continue as a LIBO Rate Loan with a one month Interest Period, subject to such Borrower’s right to repay such LIBO Rate Loan at the end of such original Interest Period (which repayment shall be accompanied by any costs under Section 10.2), (d) No Borrower shall request a LIBO Rate Loan if, after giving effect thereto, there would be more than twenty (20) LIBO Rate Loan Borrowings outstandingLoan.