Common use of Conversion and Renewals Clause in Contracts

Conversion and Renewals. The Borrower may elect from time to time to convert all or part of a Prime Rate Loan into a LIBOR Loan or a LIBOR Loan into a Prime Rate Loan or to renew all or part of a LIBOR Loan by giving Bank notice at least one (1) Business Day before conversion into a Prime Rate Loan and at least three (3) Business Days before conversion into or renewal of a LIBOR Loan specifying: (a) the renewal or conversion date; (b) the amount of the Prime Rate Loan or LIBOR Loan to be converted or renewed; (c) in the case of conversion, whether the conversion is into a Prime Rate Loan or a LIBOR Loan; and (d) in the case of a renewal of, or a conversion into, a LIBOR Loan, the duration of the Interest Period applicable thereto; provided that (i) the minimum principal amount of each Prime Rate Loan outstanding after a renewal or conversion shall be $250,000.00 and the minimum principal amount of each LIBOR Loan after a renewal or conversion shall be $250,000; and (ii) a LIBOR Loan can be converted only on the last day of the Interest Period for such LIBOR Loan. All notices given under this Section 2.3(b) shall be irrevocable and shall be given not later than 11:00 a.m. on the day which is not less than the number of Business Days specified above for such notice. If the Borrower shall fail to give Bank the notices specified above for the renewal or conversion of a LIBOR Loan prior to the end of the Interest Period with respect thereto, such LIBOR Loan shall by automatically converted into a Prime Rate Loan on the last day of the Interest Period for such LIBOR Loan.

Conversion and Renewals. The Borrower may elect from time to ----------------------- time to convert all or a part of a Prime Rate one type of Revolving Credit Loan into a LIBOR Loan or a LIBOR Loan into a Prime Rate another type of Revolving Credit Loan or to renew all or part of a LIBOR Revolving Credit Loan by giving Bank the Agent notice at least one (1) Business Day before the conversion into a Prime Rate Loan and at least three (3) Business Days before the conversion into or renewal of a LIBOR Loan Rate Loan, specifying: (a1) the renewal or conversion date; (b2) the amount of the Prime Rate Loan or LIBOR Revolving Credit Loan to be converted or renewed; (c3) in the case of conversionconversions, whether the conversion is into a Prime Rate type of Revolving Credit Loan or a LIBOR Loanto be converted into; and (d4) in the case of a renewal of, renewals of or a conversion into, a into LIBOR LoanRate Loans, the duration of the Interest Period applicable thereto; provided that (ia) the minimum principal amount of each Prime Rate Revolving Credit Loan outstanding after a renewal or conversion to a LIBOR Rate Loan shall be $250,000.00 and the minimum principal amount of each LIBOR 500,000.00 or to a Prime Rate Loan after a renewal or conversion shall be $250,000250,000.00; and (iib) a LIBOR Loan Rate Loans can be converted only on the last day of the Interest Period for of such LIBOR Loan. All notices given under this Section 2.3(b) 2.6 shall be irrevocable and shall be given not later than 11:00 a.m. (Philadelphia time) on the day which is not less than the number of Business Days specified above for such notice. If Any request for a conversion or a renewal under this Section 2.6 may be written or oral, but if oral, it shall be confirmed in writing sent by the Borrower shall fail to give Bank the notices specified above for the renewal or conversion of a LIBOR Loan prior to the end of the Interest Period with respect thereto, such LIBOR Loan shall by automatically converted into a Prime Rate Loan on the last day of the Interest Period for such LIBOR Loan.Agent within two (2)

Conversion and Renewals. The Borrower may elect from time to ----------------------- time to convert all or a part of a Prime Rate one type of Revolving Credit Loan into a LIBOR Loan or a LIBOR Loan into a Prime Rate another type of Revolving Credit Loan or to renew all or part of a LIBOR Revolving Credit Loan by giving Bank the Agent notice at least one (1) Business Day before the conversion into a Prime Rate Loan and at least three (3) Business Days before the conversion into or renewal of a LIBOR Loan Rate Loan, specifying: (a1) the renewal or conversion date; (b2) the amount of the Prime Rate Loan or LIBOR Revolving Credit Loan to be converted or renewed; (c3) in the case of conversionconversions, whether the conversion is into a Prime Rate type of Revolving Credit Loan or a LIBOR Loanto be converted into; and (d4) in the case of a renewal of, renewals of or a conversion into, a into LIBOR LoanRate Loans, the duration of the Interest Period applicable thereto; provided that (ia) the minimum principal amount of each Prime Rate Revolving Credit Loan outstanding after a renewal or conversion to a LIBOR Rate Loan shall be $250,000.00 and the minimum principal amount of each LIBOR 250,000 or to a Prime Rate Loan after a renewal or conversion shall be $250,000100,000; and (iib) a LIBOR Loan Rate Loans can be converted only on the last day of the Interest Period for of such LIBOR Loan. All notices given under this Section 2.3(b) 2.6 shall be irrevocable and shall be given not later than 11:00 a.m. (Philadelphia time) on the day which is not less than the number of Business Days specified above for such notice. If Any request for a conversion or a renewal under this Section 2.6 may be written or oral, but if oral, it shall be confirmed in writing sent by the Borrower shall fail to give Bank the notices specified above for the renewal or conversion of a LIBOR Loan prior to the end of the Interest Period with respect thereto, such LIBOR Loan shall by automatically converted into a Prime Rate Loan on the last day of the Interest Period for such LIBOR Loan.Agent within two (2)

Conversion and Renewals. The Borrower may elect from time to time to convert all or a part of a Prime Rate one type of Loan into a LIBOR Loan or a LIBOR Loan into a Prime Rate another type of Loan or to renew all or a part of a LIBOR Loan by giving the Bank notice of at least one (1) Business Day before the conversion into a Prime Rate Loan Loan, and at least three two (32) Business Days before the conversion into or renewal of a LIBOR Loan Loan, specifying: (a1) the date on which a renewal or conversion dateis to occur; (b2) the amount of the Prime Rate Loan or LIBOR Loan to be converted or renewed; (c3) in the case of conversionconversions, whether the conversion is into a Prime Rate type of Loan or a LIBOR Loanto be converted into; and (d4) in the case of a renewal of, renewals of or a conversion into, a into LIBOR LoanLoans, the duration of the Interest Period applicable thereto; provided that (ia) the minimum principal amount of each Prime Rate Loan outstanding after a renewal or conversion shall be Fifty Thousand Dollars ($250,000.00 50,000.00) in the case of Prime Loans, and Five-Hundred Thousand Dollars ($500,000.00) in the minimum principal amount case of each LIBOR Loan after a renewal or conversion shall be $250,000Loans; and (iib) a LIBOR Loan Loans can be converted only on the last day of the Interest Period for such LIBOR Loan. All notices given under this Section 2.3(b) 2.03 shall be irrevocable and shall be given not later than 11:00 a.m. 12:00 PM eastern standard time on the day which is not less than the number of Business Days specified above for such notice. If the Borrower shall fail to give the Bank the notices notice as specified above for the renewal or conversion of a LIBOR Loan prior to the end of the Interest Period with respect thereto, such LIBOR Loan shall by automatically be converted into a Prime Rate Loan on the last day of the Interest Period for such LIBOR Loan.

Conversion and Renewals. The Borrower may elect from time to time to ----------------------- convert all or a part of a Prime Rate one type of Revolving Credit Loan into a LIBOR Loan or a LIBOR Loan into a Prime Rate another type of Revolving Credit Loan or to renew all or part of a LIBOR Revolving Credit Loan by giving Bank the Administrative Agent notice at least one (1) Business Day before the conversion into a Prime Rate Loan and at least three (3) Business Days before the conversion into or renewal of a LIBOR Loan Rate Loan, specifying: (a1) the renewal or conversion date; (b2) the amount of the Prime Rate Loan or LIBOR Revolving Credit Loan to be converted or renewed; (c3) in the case of conversionconversions, whether the conversion is into a Prime Rate type of Revolving Credit Loan or a LIBOR Loanto be converted into; and (d4) in the case of a renewal of, renewals of or a conversion into, a into LIBOR LoanRate Loans, the duration of the Interest Period applicable thereto; provided that (ia) the minimum principal amount of each Prime Rate Revolving Credit Loan outstanding after a renewal or conversion to a LIBOR Rate Loan shall be $250,000.00 and the minimum principal amount of each LIBOR 500,000.00 or to a Prime Rate Loan after a renewal or conversion shall be $250,000250,000.00; and (iib) a LIBOR Loan Rate Loans can be converted only on the last day of the Interest Period for of such LIBOR Loan. All notices given under this Section 2.3(b) 2.6 shall be irrevocable and shall be given not later than 11:00 a.m. (Philadelphia time) on the day which is not less than the number of Business Days specified above for such notice. If Any request for a conversion or a renewal under this Section 2.6 may be written or oral, but if oral, it shall be confirmed in writing sent by the Borrower shall fail to give Bank the notices specified above for the renewal or conversion of a LIBOR Loan prior to the end of the Interest Period with respect thereto, such LIBOR Loan shall by automatically converted into a Prime Rate Loan on the last day of the Interest Period for such LIBOR Loan.Administrative Agent within two (2)