Common use of Conversion/Continuation Option Clause in Contracts

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 Eurocurrency Rate Loans and (ii) at the end of any applicable Interest Period, to convert Eurocurrency Rate Loans denominated in Dollars or any portion thereof into Base Rate Loans or to continue any (x) Eurocurrency Rate Loans or (y) EURIBOR Rate Loans, or, in each case, any portion thereof, for an additional Interest Period; provided, however, that the aggregate amount of Eurocurrency Rate Loans or EURIBOR Rate Loans for each Interest Period must be in the amount of the applicable Minimum Threshold. Each conversion or continuation shall be allocated among the Loans of each Revolving Credit Lender in accordance with such Revolving Credit 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 three Business Days’ prior written notice specifying (A) the amount and type of Loan being converted or continued, (B) in the case of a conversion to or a continuation of Eurocurrency Rate Loans or EURIBOR Rate Loans, as applicable, the applicable Interest Period and (C) in the case of a conversion, the date of such conversion.

Appears in 2 contracts

Samples: Credit Agreement (Tenet Healthcare Corp), Credit Agreement (Tenet Healthcare Corp)

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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 Eurocurrency Rate Loans Loans, and (ii) at the end of any applicable Interest Period, to convert Eurocurrency Rate Loans denominated in Dollars or any portion thereof into Base Rate Loans Loans, or to continue any (x) such Eurocurrency Rate Loans or (y) EURIBOR Rate Loans, or, in each case, any portion thereof, thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurocurrency Rate Loans or EURIBOR Rate Loans for each Interest Period and Base Rate Loans converted or continued must be in the amount of at least $500,000 or an integral multiple of $100,000 in excess thereof. Each conversion or continuation shall be made on notice given by the applicable Minimum ThresholdBorrower to the Administrative Agent not later than (i) 12:00 p.m. on the same Business Day as the proposed conversion or continuation of any Loan into a Base Rate Loan, and (ii) 1:00 p.m. three (3) Business Days prior to the date of the proposed conversion or continuation of any Loan into a Eurocurrency Rate Loans, in each case prior to the date of the proposed conversion or continuation. Each conversion or continuation shall be allocated among the Loans of each Revolving Credit Lender in accordance with such Revolving Credit 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 three Business Days’ prior written notice specifying (A) the amount and type of Loan being converted or continued, (B) in the case of a conversion to or a continuation of Eurocurrency Rate Loans or EURIBOR Rate Loans, as applicable, the applicable Interest Period and (C) in the case of a conversion, the date of such conversion.

Appears in 2 contracts

Samples: Credit Agreement (99 Cents Only Stores LLC), Credit Agreement (99 Cents Only Stores LLC)

Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day, to convert Base Rate Loans or Canadian Prime Rate Loans (in each case, other than Swing Loans) or any portion thereof to Eurocurrency Rate Loans or BA Rate Loans, as applicable, and (ii) at the end of any applicable Interest Period, to convert Eurocurrency Rate Loans denominated in Dollars or BA Rate Loans or any portion thereof into Base Rate Loans or Canadian Prime Rate Loans, as applicable, or to continue any (x) such Eurocurrency Rate Loans or (y) EURIBOR BA Rate Loans, oras applicable, in each case, or any portion thereof, thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurocurrency Rate Loans or EURIBOR BA Rate Loans for each Interest Period must be in the amount of the applicable Minimum Thresholdat least $500,000 or an integral multiple of $100,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Revolving Credit Lender in accordance with such Revolving Credit 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 three two (2) Business Days’ prior written notice specifying (A) the amount and type of Loan being converted or continued, (B) in the case of a conversion to or a continuation of Eurocurrency Rate Loans or EURIBOR BA Rate Loans, as applicable, the applicable Interest Period and (C) in the case of a conversion, the date of such conversion.

Appears in 2 contracts

Samples: Credit Agreement (Chinos Holdings, Inc.), Credit Agreement (J Crew Group Inc)

Conversion/Continuation Option. (a) The Each Borrower may elect (i) at any time on any Business Day, Day to convert U.S. Base Rate Loans (other than Swing Loans) or any portion thereof to Eurocurrency Rate Loans or Canadian Base Rate Loans to BA Rate Loans and (ii) at the end of any applicable Interest Period, to convert Eurocurrency Rate Loans denominated in Dollars or BA Rate Loans or any portion thereof into the applicable Base Rate Loans or to continue any (x) such Eurocurrency Rate Loans or (y) EURIBOR BA Rate Loans, or, in each case, Loans or any portion thereof, thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurocurrency Rate Loans or EURIBOR BA Rate Loans Loans, as the case may be, for each Interest Period must be in not less than the amount of the applicable Minimum Currency Threshold. Each conversion or continuation shall be allocated among the Loans of each Revolving Credit Lender in accordance with such Revolving Credit Lender’s '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 three Business Days' prior written notice specifying (A) the amount and type of Loan being converted or continued, (B) in the case of a conversion to or a continuation of Eurocurrency Rate Loans or EURIBOR BA Rate Loans, as applicable, the applicable Interest Period and (C) in the case of a conversion, the date of such conversion.

Appears in 2 contracts

Samples: Credit Agreement (Novelis Inc.), Credit Agreement (Novelis Inc.)

Conversion/Continuation Option. (a) The Borrower U.S. Borrower, on its behalf or on behalf of any Euro Borrower, may elect (i) at any time on any Business Day, Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurocurrency Rate Loans and or (ii) at the end of any applicable Interest Period, to convert Eurocurrency Rate Loans denominated in Dollars or any portion thereof into Base Rate Loans or to continue any (x) such Eurocurrency Rate Loans or (y) EURIBOR Rate Loans, or, in each case, any portion thereof, thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurocurrency Rate Loans converted or EURIBOR Rate Loans continued for each Interest Period must be in the amount of the applicable Minimum Thresholdat 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 Revolving Credit Lender in accordance with such Revolving Credit Lender’s Ratable Portion. Each Subject to clause (b) below, each such election shall be in substantially the form of Exhibit F E (Form of Notice of Conversion or Continuation) (a “Notice of Conversion or Continuation”) and shall be made by giving the Administrative Agent at least three Business Days’ prior written notice specifying (A) the amount and type of Loan being converted or continued, (B) in the case of a conversion to or a continuation of Eurocurrency Rate Loans or EURIBOR Rate Loans, as applicable, the applicable Interest Period and (C) in the case of a conversion, the date of such conversionconversion (which date shall be a Business Day and, if a conversion from Eurocurrency Rate Loans, shall also be the last day of the applicable Interest Period).

Appears in 2 contracts

Samples: Credit Agreement (FMC Corp), Credit Agreement (FMC Corp)

Conversion/Continuation Option. (a) The Administrative Borrower may elect (i) at any time on any Business Day, Day to convert Base Rate Loans (other than Swing Loans) or any portion thereof to Eurocurrency Eurodollar Rate Loans Loans, and (ii) at the end of any applicable Interest Period, to convert Eurocurrency Eurodollar Rate Loans denominated in Dollars or any portion thereof into Base Rate Loans or to continue any (x) Eurocurrency such Eurodollar Rate Loans or (y) EURIBOR Rate Loans, or, in each case, any portion thereof, thereof for an additional Interest Period; provided, however, that (x) on or prior to the date that is 18 months after the Effective Date, all Term Loans that are Eurodollar Rate Loans shall have the same Interest Period and (y) the aggregate amount of Eurocurrency Rate Loans or EURIBOR the Eurodollar Rate Loans for each Interest Period must be in the amount of the applicable Minimum Threshold$5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Term Loans of each Revolving Credit Lender in accordance with such Revolving Credit each applicable 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 three Business Days’ prior written notice specifying (A) the amount and type Type of Term Loan being converted or continued, (B) in the case of a conversion to or a continuation of Eurocurrency Rate Loans or EURIBOR Eurodollar Rate Loans, as applicable, the applicable Interest Period Period, and (C) in the case of a conversion, the date of such conversion.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Tousa Inc)

Conversion/Continuation Option. (a) The Borrower may elect (i) at any time on any Business Day, Day to convert its Base Rate Loans (other than Swing Loans) or any portion thereof to Eurocurrency Rate Loans and (ii) at the end of any applicable Interest Period, to convert its Eurocurrency Rate Loans denominated in Dollars or any portion thereof into Base Rate Loans or to continue any (x) Eurocurrency Rate Loans Loan or (y) EURIBOR Rate Loans, or, in each case, any portion thereof, thereof for an additional Interest Period; provided, however, that the aggregate amount of the Eurocurrency Rate Loans or EURIBOR Rate Loans for each Interest Period must be in the amount of that is not less than the applicable Minimum Currency Threshold. Each conversion or continuation shall be allocated among the Loans of each Revolving Credit Lender in accordance with such Revolving Credit Lender’s Ratable PortionPortion of the applicable Facility. 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 three Business Days’ prior written notice specifying (A) the amount and type of Loan being converted or continued, (B) in the case of a conversion to or a continuation of Eurocurrency Rate Loans or EURIBOR Rate Loans, as applicable, the applicable Interest Period and (C) in the case of a conversion, the date of such conversion.

Appears in 1 contract

Samples: Credit Agreement (Johnsondiversey Holdings Inc)

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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 Eurocurrency Rate Loans and (ii) at the end of any applicable Interest Period, to convert Eurocurrency Rate Loans denominated in Dollars or any portion thereof into Base Rate Loans or to continue any (x) Eurocurrency Rate Loans or (y) EURIBOR Rate Loans, or, in each case, any portion thereof, for an additional Interest Period; provided, however, that the aggregate amount of Eurocurrency Rate Loans or EURIBOR Rate Loans for each Interest Period must be in the amount of the applicable Minimum Threshold. Each conversion or continuation shall be allocated among the Loans of each Revolving Credit Lender in accordance with such Revolving Credit 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 three Business Days’ prior written notice specifying (A) the amount and type of Loan being converted or continued, (B) in the case of a conversion to or a continuation of Eurocurrency Rate Loans or EURIBOR Rate Loans, as applicable, the applicable Interest Period and (C) in the case of a conversion, the date of such conversion.AMENDED AND RESTATED CREDIT AGREEMENT XXXXX HEALTHCARE CORPORATION

Appears in 1 contract

Samples: Credit Agreement (Tenet Healthcare Corp)

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) consisting of Revolving Loans or any portion thereof to Eurocurrency Rate Eurodollar RateTerm SOFR Loans and (ii) at the end of any applicable Interest Period, to convert Eurocurrency Rate Eurodollar RateTerm SOFR Loans denominated in Dollars consisting of Revolving Loans or any portion thereof into Base Rate Loans or to continue any (x) Eurocurrency Rate such Eurodollar RateTerm SOFR Loans or (y) EURIBOR Rate Loans, or, in each case, any portion thereof, thereof for an additional Interest Period; provided, however, that the aggregate amount of Eurocurrency Rate Loans or EURIBOR Rate the Eurodollar RateTerm SOFR Loans for each Interest Period must be in the amount of the applicable Minimum Thresholdat least $1,000,000 or an integral multiple of $500,000 in excess thereof. Each conversion or continuation shall be allocated among the Revolving Loans of each Revolving Credit Lender in accordance with such Revolving Credit 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 three two (2) Business Days’ prior written notice specifying (A) the amount and type typeType of Revolving Loan being converted or continued, (B) in the case of a conversion to or a continuation of Eurocurrency Rate Loans or EURIBOR Rate Eurodollar RateTerm SOFR Loans, as applicable, the applicable Interest Period and (C) in the case of a conversion, the date of such conversion.

Appears in 1 contract

Samples: Credit Agreement (JOANN Inc.)

Conversion/Continuation Option. (a) The A Borrower may elect (i) at any time on any Business Day, to convert Base Rate Loans (other than Swing Loans) owing by it or any portion thereof to Eurocurrency Eurodollar Rate Loans and or (ii) at the end of any AMENDED AND RESTATED CREDIT AGREEMENT SUNTRON CORPORATION applicable Interest Period, to convert Eurocurrency Eurodollar Rate Loans denominated in Dollars owing by it or any portion thereof into Base Rate Loans or to continue any (x) Eurocurrency such Eurodollar Rate Loans or (y) EURIBOR Rate Loans, or, in each case, any portion thereof, thereof for an additional Interest Period; provided, however, that the aggregate amount of Eurocurrency Rate Loans or EURIBOR Rate the Eurodollar Loans for each Interest Period must be in the amount of the applicable Minimum Threshold$3,000,000 or an integral multiple of $1,000,000 in excess thereof. Each conversion or continuation shall be allocated among the Loans of each Revolving Credit Lender in accordance with such Revolving Credit Lender’s its Ratable Portion. Each such election shall be in substantially the form of Exhibit F E (Form of Notice of Conversion or Continuation) (a "Notice of Conversion or Continuation") and shall be made by giving the Administrative Agent at least three Business Days' prior written notice specifying (A) the amount and type of Loan being converted or continued, (B) in the case of a conversion to or a continuation of Eurocurrency Rate Loans or EURIBOR Eurodollar Rate Loans, as applicable, the applicable Interest Period and (C) in the case of a conversion, the date of such conversionconversion (which date shall be a Business Day and, if a conversion from Eurodollar Rate Loans, shall also be the last day of the applicable Interest Period).

Appears in 1 contract

Samples: Credit Agreement (Suntron Corp)

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