Common use of Conversion and Renewals Clause in Contracts

Conversion and Renewals. The Borrower may elect from time to time to convert all or a part of one type of Revolving Credit Loan into another type of Revolving Credit Loan or to renew all or part of a Revolving Credit Loan by giving the Administrative Agent notice by 11 a.m. (New York time) on the day of the conversion into a Prime Rate Loan and at least three (3) Business Days before the conversion into or renewal of a Eurodollar Loan, specifying: (1) the renewal or conversion date; (2) the amount of the Revolving Credit Loan to be converted or renewed; (3) in the case of conversions, the type of Revolving Credit Loan to be converted into; and (4) in the case of renewals of or a conversion into Eurodollar Loans, the duration of the Interest Period applicable thereto; provided that (a) the minimum principal amount of each Revolving Credit Loan of a Lender outstanding after a renewal or conversion to a Eurodollar Loan shall be $500,000 or to a Prime Rate Loan shall be $250,000; and (b) Eurodollar Loans can be converted only on the last day of the Interest Period of such Revolving Credit Loan. All notices given under this Section 2.6 shall be irrevocable and shall be given not later than 11:00 a.m. (New York time) on the day which is the day or not less than the number of Business Days, as the case may be, specified above for such notice. 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 to the Administrative Agent by the close of business of such Business Day. If the Borrower shall fail to give the Administrative Agent the notice as specified above for the renewal or conversion of a Eurodollar Loan prior to the end of the Interest Period with respect thereto, such Eurodollar Loan shall automatically be converted into a Prime Rate Loan on the last day of the Interest Period for such Revolving Credit Loan. The Administrative Agent shall promptly advise (but in any event, by 2:00 p.m. New York time, three (3) Business Days prior to a Eurodollar Loan or by 3:00 p.m. on the same Business Day in the case of a Prime Rate Loan) the Lenders of any notice given pursuant to this Section 2.6 and of each Lender’s portion of the requested conversion or renewal.

Conversion and Renewals. The Borrower may elect from time to time to convert all or a part of one type of Revolving Credit Loan into another type of Revolving Credit Loan or to renew all or part of a Revolving Credit Loan by giving the Administrative Agent notice by 11 a.m. (New York time) on the day of the conversion into a Prime Rate Loan and at least three (3) Business Days before the conversion into or renewal of a Eurodollar LIBOR Rate Loan, specifying: (1) the renewal or conversion date; (2) the amount of the Revolving Credit Loan to be converted or renewed; (3) in the case of conversions, the type of Revolving Credit Loan to be converted into; and (4) in the case of renewals of or a conversion into Eurodollar LIBOR Rate Loans, the duration of the Interest Period applicable thereto; provided that (a) the minimum principal amount of each Revolving Credit Loan of a Lender outstanding after a renewal or conversion to a Eurodollar LIBOR Rate Loan shall be $500,000 or to a Prime Rate Loan shall be $250,000; and (b) Eurodollar LIBOR Rate Loans can be converted only on the last day of the Interest Period of such Revolving Credit Loan. All notices given under this Section 2.6 shall be irrevocable and shall be given not later than 11:00 a.m. (New York time) on the day which is the day or not less than the number of Business Days, as the case may be, specified above for such notice. 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 to the Administrative Agent by the close of business of such within two (2) Business DayDays thereafter. If the Borrower shall fail to give the Administrative Agent the notice as specified above for the renewal or conversion of a Eurodollar LIBOR Rate Loan prior to the end of the Interest Period with respect thereto, such Eurodollar LIBOR Rate Loan shall automatically be converted into a Prime Rate Loan on the last day of the Interest Period for such Revolving Credit Loan. The Administrative Agent shall promptly advise (but in any event, by 2:00 p.m. New York time, three (3) Business Days prior to a Eurodollar LIBOR Rate Loan or by 3:00 p.m. on the same Business Day in the case of a Prime Rate Loan) the Lenders of any notice given pursuant to this Section 2.6 and of each Lender’s portion of the requested conversion or renewal.

Conversion and Renewals. The Borrower may elect from time to time-to-time to convert all all, or a part of of, one type of Revolving Line of Credit Loan into another type of Revolving Line of Credit Loan permitted under the Revolving Line of Credit facility, or to renew all or part of a Revolving Line of Credit Loan by giving the Administrative Agent Lender notice by 11 a.m. at least one (New York time1) on the day of Business Day before the conversion into a Prime Rate Loan and at least three two (32) Business Days before the conversion into or renewal of a Eurodollar LIBOR Loan, specifying: ; specifying in each case (1) the renewal or conversion date; (2) the amount of the Revolving Credit Loan to be converted or renewed; (3) in the case of conversions, a specification that the type of Revolving Credit Loan is to be converted intofrom a Prime Loan to a LIBOR Loan or vice versa, as the case may be; and (4) in the case of renewals of of, or a conversion into Eurodollar LIBOR Loans, the duration of the Interest Period applicable thereto; provided that that: (a) the minimum principal amount of each Revolving Credit Loan of a Lender outstanding after a renewal or conversion to a Eurodollar Loan shall be Two Hundred Fifty Thousand and 00/100 Dollars ($500,000 250,000.00) or to a Prime Rate Loan shall be one Hundred Thousand and 00/100 Dollars ($250,000100,000.00) multiples there above in the case of LIBOR Loans; and and (b) Eurodollar LIBOR Loans can be converted only on as of the last day of the Interest Period of for such Revolving Credit Loan. All notices given under this Section 2.6 2.03 shall be irrevocable and shall be given not later than 11:00 a.m. 2:00 p.m. (New York timeEST) on the day which is the day or not less than the number of Business Days, as the case may be, Days specified above for such notice. 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 to the Administrative Agent by the close of business of such Business Day. If the Borrower shall fail to give the Administrative Agent Lender the notice as specified above for the renewal or conversion of a Eurodollar LIBOR Loan prior to the end of the Interest Period with respect thereto, such Eurodollar LIBOR Loan shall automatically be converted into a Prime Rate Loan on the last day of the Interest Period for such Revolving Credit Loan. The Administrative Agent shall promptly advise (but in any event, by 2:00 p.m. New York time, three (3) Business Days prior to a Eurodollar Loan or by 3:00 p.m. on the same Business Day in the case of a Prime Rate Loan) the Lenders of any notice given pursuant to this Section 2.6 and of each Lender’s portion of the requested conversion or renewal.

Conversion and Renewals. The Borrower With Lender’s prior consent, subject to the terms of this Agreement, the Borrowers may elect from time to time to convert all or a part of one type of Revolving Credit Loan into another type of Revolving Credit Loan or to renew all or part of a Revolving Credit Loan by giving the Administrative Agent Lender notice by 11 a.m. (New York time) on the day of the conversion into a Prime Rate Loan and at least three (3) Business Days before the conversion into or renewal of a Eurodollar LIBOR Loan, specifying: (1) the renewal or conversion date; (2) the amount of the Revolving Credit Loan to be converted or renewed; (3) in the case of conversions, the type of Revolving Credit Loan to be converted into; and (4) in the case of renewals of or a conversion into Eurodollar LIBOR Loans, the duration of the Interest Period applicable thereto; provided that (a) the minimum principal amount of each Revolving Credit Loan of a Lender outstanding after a renewal or conversion to a Eurodollar LIBOR Loan shall be $500,000 or to a Prime Rate Loan shall be $250,000100,000 or an integral multiple thereof; and (b) Eurodollar LIBOR Loans can be converted only on the last day of the Interest Period of such Revolving Credit Loan. All notices given under this Section 2.6 shall be irrevocable and shall be given not later than 11:00 a.m. (New York time) on the day which is the day or not less than the number of Business Days, as the case may be, specified above for such notice. 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 Parent to the Administrative Agent Lender by the close of business of such Business Day. If the Borrower Parent shall fail to give the Administrative Agent Lender the notice as specified above for the renewal or conversion of a Eurodollar LIBOR Loan prior to the end of the Interest Period with respect thereto, such Eurodollar LIBOR Loan shall automatically be converted into a Prime Rate Loan on the last day of the Interest Period for such Revolving Credit Loan. The Administrative Agent shall promptly advise (but in any event, by 2:00 p.m. New York time, three (3) Business Days prior to a Eurodollar Loan or by 3:00 p.m. on the same Business Day in the case of a Prime Rate Loan) the Lenders of any notice given pursuant to this Section 2.6 and of each Lender’s portion of the requested conversion or renewal.