Conversion/Continuation of Tranches Sample Clauses

Conversion/Continuation of Tranches. (i) Subject to the provisions of Sections 2.14 and 2.15 of this Agreement, Borrower shall have the option (A) to convert at any time all or any part of outstanding Base Rate Tranches to LIBOR Rate Tranches, (B) to convert all or any part of outstanding LIBOR Rate Tranches having Interest Periods which expire on the same date to Base Rate Tranches on such expiration date or (C) to continue all or any part of outstanding LIBOR Rate Tranches having Interest Periods which expire on the same date as LIBOR Rate Tranches, and the succeeding Interest Period of such continued LIBOR Rate Tranches shall commence on such expiration date; provided, however, no such outstanding LIBOR Rate Tranches may be continued as, or be converted into, a LIBOR Rate Tranche (X) if the continuation of, or the conversion into, would violate any of the provisions of Section 2.14 or 2.15 of this Agreement or (Y) if a Default or Event of Default would occur as a result thereof or has occurred and is continuing. Any conversion into or continuation of LIBOR Rate Tranches under this Section 2.7(c) shall be in a minimum amount of One Million and 00/100 Dollars ($1,000,000.00) and in integral multiples of Fifty Thousand and 00/100 Dollars ($50,000.00) in excess of that amount. SECURED TERM LOAN AGREEMENT 9 15 (ii) To convert or continue a Base Rate Tranche or LIBOR Rate Tranche, Borrower shall deliver a Notice of Continuation/Conversion substantially in the form of EXHIBIT D attached hereto and made a part hereof to Lender no later than 10:00 A.M. (Cleveland, Ohio time) at least three (3) Business Days in advance of the proposed continuation/conversion date in the case of a conversion to, or a continuation of, LIBOR Rate Tranches or at least one (1) Business Day in advance of the proposed continuation/conversion date in the case of a conversion to a Base Rate Tranche. A Notice of Continuation/Conversion shall specify (A) the proposed continuation/conversion date (which shall be a Business Day), (B) the principal amount of the Base Rate Tranches and LIBOR Rate Tranches to be continued/converted, (C) whether such Base Rate Tranche or LIBOR Rate Tranche shall be converted and/or continued (D) in the case of a continuation of, or conversion to, a LIBOR Rate Tranche, the requested Interest Period and (E) that no Default or Event of Default has occurred and is continuing or would result from the proposed continuation/conversion. Except as otherwise provided in Sections 2.14 and 2.15, a Notice of Rat...
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Related to Conversion/Continuation of Tranches

  • Selection and Continuation of Tranche Periods (a) With consultation from (and approval by) the Agent, Seller shall from time to time request Tranche Periods for the Purchaser Interests of the Financial Institutions, provided that, if at any time the Financial Institutions shall have a Purchaser Interest, Seller shall always request Tranche Periods such that at least one Tranche Period shall end on the date specified in clause (A) of the definition of Settlement Date.

  • Conversion/Continuation (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrower shall have the option:

  • Conversion/Continuation Request A notice given by the Borrower to the Agent of its election to convert or continue a Loan in accordance with §4.1.

  • Conversion and Continuation of Loans The Lead Borrower on behalf of the Borrowers shall have the right at any time,

  • Conversion/Continuation Option (a) The Borrower may elect (i) at any time on any Business Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurodollar Rate Loans and (ii) at the end of any applicable Interest Period, to convert Eurodollar Rate Loans or any portion thereof into Base Rate Loans or to continue such Eurodollar Rate Loans or any portion thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurodollar Loans for each Interest Period must be in the amount of at least $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Lender in accordance with such Lender’s Ratable Portion. Each such election shall be in substantially the form of Exhibit F (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least (x) three Business Days’ prior written notice in the case of a conversion to, or continuation of, Eurodollar Rate Loans or (y) one Business Day’s prior written notice in the case of a conversion to Base Rate Loans, each such notice specifying, as applicable, (A) the amount and type of Loan being converted or continued, (B) in the case of a conversion to, or a continuation of, Eurodollar Rate Loans, the applicable Interest Period and (C) in the case of a conversion, the date of such conversion.

  • Conversion and Continuation (i) Borrower may elect from time to time, subject to the other provisions of this Section 2.11, to convert all or any part of a ratable Advance into any other type of Advance; provided that any conversion of a ratable LIBOR Advance shall be made on, and only on, the last day of the LIBOR Interest Period applicable thereto.

  • Conversion and Continuation of Revolving Loans The Borrower shall have the right, subject to the terms and conditions of this Agreement, to (i) Convert all or a portion of the outstanding principal amount of Loans of one Type made to it into a Borrowing or Borrowings of another Type of Loans that can be made to it pursuant to this Agreement and (ii) Continue a Borrowing of Eurodollar Loans at the end of the applicable Interest Period as a new Borrowing of Eurodollar Loans with a new Interest Period; provided, however, that any Conversion of Eurodollar Loans into Base Rate Loans shall be made on, and only on, the last day of an Interest Period for such Eurodollar Loans.

  • Notice of Conversion/Continuation a Notice of Conversion/Continuation to be provided by Borrower Agent to request a conversion or continuation of any Loans as LIBOR Loans, in form satisfactory to Agent.

  • Conversion and Continuation Options (a) The Borrower or any Subsidiary Borrower may elect from time to time to convert Eurocurrency Loans to ABR Loans by giving the Administrative Agent prior irrevocable notice of such election no later than 11:00 A.M., New York City time, on the Business Day preceding the proposed conversion date, provided that any such conversion of Eurocurrency Loans may only be made on the last day of an Interest Period with respect thereto. The Borrower or any Subsidiary Borrower may elect from time to time to convert ABR Loans to Eurocurrency Loans by giving the Administrative Agent prior irrevocable notice of such election no later than 12:00 Noon, New York City time, on the third Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor), provided that no ABR Loan under a particular Facility may be converted into a Eurocurrency Loan when any Event of Default has occurred and is continuing and the Administrative Agent or the Majority Facility Lenders in respect of such Facility have determined in its or their sole discretion not to permit such conversions. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof.

  • Conversion and Continuation of Borrowings The Borrower shall have the right at any time upon prior irrevocable notice to the Administrative Agent (a) not later than 12:00 (noon), New York City time, one Business Day prior to conversion, to convert any Eurodollar Borrowing into an ABR Borrowing, (b) not later than 12:00 (noon), New York City time, three Business Days prior to conversion or continuation, to convert any ABR Borrowing into a Eurodollar Borrowing or to continue any Eurodollar Borrowing as a Eurodollar Borrowing for an additional Interest Period, and (c) not later than 12:00 (noon), New York City time, three Business Days prior to conversion, to convert the Interest Period with respect to any Eurodollar Borrowing to another permissible Interest Period, subject in each case to the following:

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