Common use of Conversion/Continuation Clause in Contracts

Conversion/Continuation. (a) Subject to Section 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan unless the Loan Parties pay all amounts due under Section 2.17 in connection with any such conversion, or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a LIBOR Rate Loan. (b) Lead Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon (New York time) at least two Business Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 6 contracts

Samples: Abl Credit Agreement (B. Riley Financial, Inc.), Credit Agreement (B. Riley Financial, Inc.), Credit Agreement (Franchise Group, Inc.)

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Conversion/Continuation. (ai) Subject to Section 2.17 2.6 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, Lead the Borrower shall have the option: (ia) to convert at any time all or any part of any Term Loan Borrowing, in an amount equal to $5,000,000 and or a higher integral multiples multiple of $1,000,000 in excess of that amount 1,000,000, from one Type of Loan to another the other Type of Loan; provided, provided that a LIBOR Rate Loan Loans may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan Loans unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 2.6 in connection with any such conversion, ; or (iib) upon the expiration of any Interest Period applicable to any Borrowing of LIBOR Rate LoanLoans, to continue all or any portion of such Loan Borrowing in an amount equal to $5,000,000 and or a higher integral multiples multiple of $1,000,000 in excess of that amount as LIBOR Loans for a LIBOR Rate Loannew Interest Period. (bii) Lead The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than noon (New York time) 11:00 a.m. at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoanLoans) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate LoanLoans). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead the Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 5 contracts

Samples: Term Loan Agreement (Assurant Inc), Credit Agreement (Assurant Inc), Term Loan Agreement (Assurant Inc)

Conversion/Continuation. (a) Subject to Section 2.17 2.15 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead the Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Rate SOFR Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate SOFR Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 2.15 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate SOFR Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a LIBOR Rate SOFR Loan. (b) Lead The Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent the Agents no later than 12:00 noon (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, a LIBOR Rate SOFR Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate SOFR Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead the Borrower shall be bound to effect a conversion or continuation in accordance therewith. If on any day a Loan is outstanding with respect to which a Funding Notice or Conversion/Continuation Notice has not been delivered to the Agents in accordance with the terms hereof specifying the applicable basis for determining the rate of interest, then for that day such Loan shall be a Base Rate Loan.

Appears in 4 contracts

Samples: Credit and Guaranty Agreement (PLBY Group, Inc.), Credit and Guaranty Agreement (PLBY Group, Inc.), Credit and Guaranty Agreement (PLBY Group, Inc.)

Conversion/Continuation. (a) Subject to Section 2.17 2.14 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount from one Type of Loan to another Type of LoanType; provided, that a LIBOR Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Eurodollar Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 2.14 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount as a LIBOR Eurodollar Rate Loan. (b) Lead Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 12:00 noon (New York City time) at least two Business Days in advance of on the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Eurodollar Rate Loans (or telephonic notice in lieu thereofthereof to be confirmed in writing) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower shall be bound to effect a conversion or continuation in accordance therewith. Any conversion/continuation date shall be a Business Day.

Appears in 4 contracts

Samples: Credit and Guaranty Agreement (Sculptor Capital Management, Inc.), Credit and Guaranty Agreement (Och-Ziff Capital Management Group LLC), Credit and Guaranty Agreement (Och-Ziff Capital Management Group LLC)

Conversion/Continuation. (a) Subject to Section 2.17 2.15 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead the Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Eurodollar Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 2.15 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a LIBOR Eurodollar Rate Loan. (b) Lead The Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent the Agents no later than 12:00 noon (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, a LIBOR Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead the Borrower shall be bound to effect a conversion or continuation in accordance therewith. If on any day a Loan is outstanding with respect to which a Funding Notice or Conversion/Continuation Notice has not been delivered to the Agents in accordance with the terms hereof specifying the applicable basis for determining the rate of interest, then for that day such Loan shall be a Base Rate Loan.

Appears in 3 contracts

Samples: Credit and Guaranty Agreement (PLBY Group, Inc.), Credit and Guaranty Agreement (PLBY Group, Inc.), Credit and Guaranty Agreement (PLBY Group, Inc.)

Conversion/Continuation. (a) Subject to Section 2.17 and so So long as no Default or Event of Default shall have occurred and then be continuingcontinuing or would result therefrom, Lead the Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 100,000 and integral multiples of $1,000,000 50,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Rate Term SOFR Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Term SOFR Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 2.15 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Term SOFR Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a LIBOR Rate Term SOFR Loan. (b) Lead The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than noon (New York time) at least two Business Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and 1:00 p.m. at least three (3) Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in or such later time as the case of a conversion to, or a continuation of, a LIBOR Rate LoanAdministrative Agent may agree). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Term SOFR Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead the Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 3 contracts

Samples: Credit Agreement (Healthpeak Properties, Inc.), Credit Agreement (Healthpeak Properties, Inc.), Credit Agreement (Physicians Realty Trust)

Conversion/Continuation. (a) Subject to Section 2.17 and so So long as no Default or Event of Default shall have occurred and then be continuingcontinuing or would result therefrom, Lead the Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a an Adjusted LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such Adjusted LIBOR Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 3.1(c) in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any Adjusted LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a an Adjusted LIBOR Rate Loan. (b) Lead The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than noon (New York time) at least two Business Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and 1:00 p.m. at least three (3) Business Days in advance of the proposed conversionConversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan)Continuation Date. Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Adjusted LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead the Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 3 contracts

Samples: Credit Agreement (AdaptHealth Corp.), Credit Agreement (AdaptHealth Corp.), Credit Agreement (Neogenomics Inc)

Conversion/Continuation. (a) Subject to Section 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 2,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Eurodollar Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 2,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount as a LIBOR Eurodollar Rate Loan. (b) Lead Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 10:00 a.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Dateirrevocable, and Lead Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 3 contracts

Samples: Credit Agreement (Douglas Dynamics, Inc), Credit Agreement (Douglas Dynamics, Inc), Credit Agreement (Douglas Dynamics, Inc)

Conversion/Continuation. (a) Subject to Section 2.17 and so So long as no Default or Event of Default shall have occurred and then be continuingcontinuing or would result therefrom, Lead the Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a an Adjusted LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such Adjusted LIBOR Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 3.1(c) in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any Adjusted LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a an Adjusted LIBOR Rate Loan. (b) Lead The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than noon (New York time) 1:00 p.m. at least two Business Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loani) and at least three (3) Business Days in advance of the proposed conversionConversion/continuation date (Continuation Date in the case of a conversion to, of one or more Base Rate Loans to LIBOR Loans or a continuation of, a of one or more LIBOR Rate Loan)Loans and (ii) one (1) Business Day in advance in the case of any other continuations or conversions. Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Adjusted LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead the Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 3 contracts

Samples: Credit Agreement (Computer Programs & Systems Inc), Credit Agreement (Computer Programs & Systems Inc), Credit Agreement (Computer Programs & Systems Inc)

Conversion/Continuation. (a) Subject to Section 2.17 and so So long as no Default or Event of Default shall have occurred and then be continuingcontinuing or would result therefrom, Lead the Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 100,000 and integral multiples of $1,000,000 50,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a an Adjusted LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such Adjusted LIBOR Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 2.15 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any Adjusted LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a an Adjusted LIBOR Rate Loan. (b) Lead The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than noon (New York time) at least two Business Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and 1:00 p.m. at least three (3) Business Days in advance of the proposed conversionConversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan)Continuation Date. Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead the Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 3 contracts

Samples: Credit Agreement (Physicians Realty Trust), Credit Agreement (Physicians Realty Trust), Credit Agreement (Physicians Realty Trust)

Conversion/Continuation. (a) Subject to Section 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower Company shall have the option: (i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $5,000,000 250,000 and integral multiples of $1,000,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR LIBO Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR LIBO Rate Loan unless the Loan Parties Company shall pay all amounts due under Section 2.17 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR LIBO Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 250,000 and integral multiples of $1,000,000 100,000 in excess of that amount as a LIBOR LIBO Rate Loan. (b) Lead Borrower Subject to Section 3.2(b), Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 10:00 a.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR LIBO Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR LIBO Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower Company shall be bound to effect a conversion or continuation in accordance therewith. If on any day a Loan is outstanding with respect to which a Funding Notice or Conversion/Continuation Notice has not been delivered to Administrative Agent in accordance with the terms hereof specifying the applicable basis for determining the rate of interest, then, for that day, such Loan shall be a Base Rate Loan.

Appears in 3 contracts

Samples: Credit and Guaranty Agreement (ONE Group Hospitality, Inc.), Credit and Guaranty Agreement (ONE Group Hospitality, Inc.), Credit and Guaranty Agreement (ONE Group Hospitality, Inc.)

Conversion/Continuation. (a) Subject to Section 2.17 2.16 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower Company shall have the option: (i) to convert at any time all or any part portion of any the Term Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan unless the Loan Parties Company shall pay all amounts due under Section 2.17 2.16 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such LIBOR Rate Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a LIBOR Rate Loan. (b) Lead Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 2:00 p.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 2 contracts

Samples: Financing Agreement (Federal Signal Corp /De/), Financing Agreement (Federal Signal Corp /De/)

Conversion/Continuation. (a) Subject to Section 2.17 and so So long as no Default or Event of Default shall have occurred and then be continuingcontinuing or would result therefrom, Lead each Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a an Adjusted LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such Adjusted LIBOR Rate Loan unless the Loan Parties such Borrower shall pay all amounts due under Section 2.17 3.1(c) in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any Adjusted LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a an Adjusted LIBOR Rate Loan. (b) Lead The applicable Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than noon (New York time) at least two Business Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and 1:00 p.m. at least three (3) Business Days in advance of the proposed conversionConversion/continuation date (Continuation Date in the case of a conversion to, or a continuation of, a connection with any Adjusted LIBOR Rate Loan)Loan or one (1) Business Day in advance if only Base Rate Loans are subject to continuation or conversion. Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Adjusted LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead such Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 2 contracts

Samples: Credit Agreement (FutureFuel Corp.), Credit Agreement (FutureFuel Corp.)

Conversion/Continuation. (a) Subject to Section 2.17 2.14 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead the applicable Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan unless the Loan Parties applicable Borrower shall pay all amounts due under Section 2.17 2.14 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount as a LIBOR Rate Loan. (b) Lead A Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 10:00 a.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead such Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Cit Group Inc), Credit and Guaranty Agreement (Cit Group Inc)

Conversion/Continuation. (ai) Subject to Section 2.17 2.9 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, Lead the Borrower shall have the option: (ia) to convert at any time all or any part of any Term Loan equal to Borrowing in an aggregate amount of $5,000,000 and or a higher integral multiples multiple of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a provided if any LIBOR Rate Loan may only be is converted on a day other than the expiration last day of the an Interest Period applicable to such LIBOR Rate Loan unless therefor, the Loan Parties Borrower shall pay all amounts due under Section 2.17 2.8 in connection with any such conversion, ; or (iib) upon the expiration of any Interest Period applicable to any Borrowing LIBOR Rate LoanLoans, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples Borrowing for a new Interest Period in a minimum amount of $1,000,000 in excess of that amount as a LIBOR Rate Loan5,000,000. (bii) Lead The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than noon 11:00 a.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoanLoans) and at least three (3) Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, a LIBOR Rate LoanLoans). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead the Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 2 contracts

Samples: Term Loan Agreement (Hospira Inc), Bridge Loan Agreement (Hospira Inc)

Conversion/Continuation. (a) Subject to Section 2.17 SECTION 2.15 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower Company shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan unless the Loan Parties Company shall pay all amounts due under Section 2.17 SECTION 2.15 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such Term Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 in excess of that amount as a LIBOR Rate Loan. (b) Lead Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 10:00 a.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Taleo Corp), Credit and Guaranty Agreement (Taleo Corp)

Conversion/Continuation. (a) Subject to Section 2.17 and so So long as no Default or Event of Default shall have occurred and then be continuingcontinuing or would result therefrom, Lead the Borrower shall have the option: (i) to convert at any time all all, or any part part, of any Term Loan equal to One Hundred Thousand Dollars ($5,000,000 100,000) and integral multiples of Fifty Thousand Dollars ($1,000,000 50,000) in excess of that amount thereof from one Type of Loan to another Type of Loan; provided, that a an Adjusted LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such Adjusted LIBOR Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 3.1(c) in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any Adjusted LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a an Adjusted LIBOR Rate Loan. (b) Lead The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than noon (New York time) at least two Business Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and 1:00 p.m. at least three (3) Business Days in advance of the proposed conversionConversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan)Continuation Date. Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Adjusted LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead the Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 2 contracts

Samples: Credit Agreement (Heritage Insurance Holdings, Inc.), Credit Agreement (Heritage Insurance Holdings, Inc.)

Conversion/Continuation. (a) Subject to Section 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 in connection with any such conversion, or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a LIBOR Rate Loan. (b) Lead Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon (New York time) at least two Business Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 2 contracts

Samples: Credit Agreement (Liberty Tax, Inc.), Credit Agreement (Franchise Group, Inc.)

Conversion/Continuation. (a) Subject to Section 2.17 2.16 and so long as no Default or Event of Default shall have occurred and then be continuingContinuing, Lead the Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan the Loans equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, provided that a LIBOR Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Eurodollar Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 2.16(c) in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Eurodollar Rate LoanLoans, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a LIBOR Eurodollar Rate LoanLoans. (b) Lead Upon the occurrence and during the continuance of an Event of Default, each outstanding Eurodollar Rate Loan shall be converted to a Base Rate Loan upon the expiration of the applicable Interest Period. (c) The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than noon 10:00 a.m. (New York City time) at least two Business Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/conversion to or continuation date (in the case of a Eurodollar Rate Loans or of any conversion to, or a continuation of, a LIBOR of Eurodollar Rate Loan)Loans to Base Rate Loans. Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead the Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 2 contracts

Samples: Senior Secured Term Loan Facility Agreement (Ocwen Financial Corp), Senior Secured Term Loan Facility Agreement (Home Loan Servicing Solutions, Ltd.)

Conversion/Continuation. (a) Subject to Section 2.17 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Eurodollar Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 2.18 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a LIBOR Eurodollar Rate Loan. (b) Lead Borrower shall deliver by telefacsimile, electronic communication (in pdf format) or hand delivery a fully executed Conversion/Continuation Notice to Administrative Agent no later than noon (i) 2:00 p.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and (ii) 12:00 p.m. (New York City time) at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 2 contracts

Samples: Second Lien Credit and Guaranty Agreement (Bz Intermediate Holdings LLC), Second Lien Credit and Guaranty Agreement (Boise Inc.)

Conversion/Continuation. (a) Subject to Section 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing2.19(b), Lead Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Rate SOFR Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate SOFR Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 2.19(b) in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate SOFR Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a LIBOR Rate SOFR Loan. (b) Lead Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 12:00 p.m. (New York City time) at least two one (1) Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate SOFR Loan); provided, that, in the event Borrower fails to deliver a Conversion/Continuation Notice, the Borrower shall automatically be deemed to have delivered a Conversion/Continuation Notice for a conversion to, or continuation as, a SOFR Loan. Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate SOFR Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 2 contracts

Samples: Financing Agreement (BridgeBio Pharma, Inc.), Financing Agreement (BridgeBio Pharma, Inc.)

Conversion/Continuation. (a) Subject to Section 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead the Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Eurodollar Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a LIBOR Eurodollar Rate Loan. (b) Lead The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than noon (New York City time) at least two Business Days in advance on the date of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversionConversion/continuation Continuation date (in the case of a conversion to, or a continuation of, a LIBOR Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower shall be bound to effect a conversion or continuation in accordance therewith. (c) Notwithstanding anything to the contrary in the foregoing, no conversion in whole or in part to a Eurodollar Rate Loan shall be permitted at any time at which (i) a Default or Event of Default shall have occurred and be continuing or (ii) the continuation of, or conversion into, a Eurodollar Rate Loan would violate any provision of Section 2.17.

Appears in 2 contracts

Samples: Senior Subordinated Bridge Loan Agreement (Source Interlink Companies Inc), Term Loan Agreement (Source Interlink Companies Inc)

Conversion/Continuation. (a) Subject to Section 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower the Company shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that provided a LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan unless the Loan Parties Company shall pay all amounts due under Section 2.17 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a LIBOR Rate Loan. (b) Lead Borrower The Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 10:00 a.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower the Company shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 2 contracts

Samples: Financing Agreement (Global Geophysical Services Inc), Settlement Agreement

Conversion/Continuation. (a) Subject to Section 2.17 2.18 and so long as no Default or Event of Default shall have occurred and then be continuingcontinuing (which the Requisite Lenders have notified Company of to prevent the following), Lead Borrower Company shall have the option: (i) to convert at any time all or any part of any Tranche B Term Loan or Revolving Loan equal to $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; providedPROVIDED, that a LIBOR Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Eurodollar Rate Loan unless the Loan Parties Company shall pay all amounts due under Section 2.17 2.18 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 100,000 in excess of that amount as a LIBOR Eurodollar Rate Loan. (b) Lead Borrower The Company shall deliver a Conversion/Continuation Notice to Administrative Agent (which shall promptly give notice by telefacsimile or telephone (promptly confirmed by telefacsimile to the Lenders)) no later than noon 2:00 p.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a 45 Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Carters Imagination Inc)

Conversion/Continuation. (a) Subject to Section 2.17 2.15 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower Company shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan unless the Loan Parties Company shall pay all amounts due under Section 2.17 2.15 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount as a LIBOR Rate Loan. (b) Lead Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 10:00 a.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (U S Energy Systems Inc)

Conversion/Continuation. (a) Subject to Section 2.17 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower shall have the option: (i) : to convert at any time all or any part of any Term Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 250,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Eurodollar Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 2.18 in connection with any such conversion, or (ii) ; or upon the expiration of any Interest Period applicable to any LIBOR Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 250,000 in excess of that amount as a LIBOR Eurodollar Rate Loan. (b) Lead Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 1:00 p.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Second Lien Credit and Guaranty Agreement (X Rite Inc)

Conversion/Continuation. (a) Subject to Section 2.17 2.16 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower Company shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 250,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Eurodollar Rate Loan unless the Loan Parties Company shall pay all amounts due under Section 2.17 2.16 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 250,000 in excess of that amount as a LIBOR Eurodollar Rate Loan. (b) Lead Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 10:00 a.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Carmike Cinemas Inc)

Conversion/Continuation. (a) Subject to Section 2.17 2.14 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount from one Type of Loan to another Type of LoanType; provided, that a LIBOR Rate Eurodollar RateSOFR Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Eurodollar RateSOFR Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 2.14 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Eurodollar RateSOFR Loan, to continue all or any portion of such Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount as a LIBOR Rate Eurodollar RateSOFR Loan. (b) Lead Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 12:00 noon (New York City time) at least two Business Days in advance of on the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Eurodollar RateSOFR Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Eurodollar RateSOFR Loans (or telephonic notice in lieu thereofthereof to be confirmed in writing) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower shall be bound to effect a conversion or continuation in accordance therewith. Any conversion/continuation date shall be a Business Day.

Appears in 1 contract

Samples: Credit Agreement (Sculptor Capital Management, Inc.)

Conversion/Continuation. (a) Subject to Section 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower Company shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan unless the Loan Parties Borrowers shall pay all amounts due under Section 2.17 in connection with any such conversion, or ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a LIBOR Rate Loan. (b) Lead Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 10:00 a.m. (New York City time) at least two one (1) Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower Borrowers shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Financing Agreement (Biohaven Pharmaceutical Holding Co Ltd.)

Conversion/Continuation. (a) Subject to Section 2.17 3.1 and so long as no Default or Event of Default shall have occurred and then be continuingcontinuing or would result therefrom, Lead the Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 100,000 and integral multiples of $1,000,000 50,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a an Adjusted LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such Adjusted LIBOR Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 3.1(c) in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any Adjusted LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a an Adjusted LIBOR Rate Loan. (b) Lead The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than noon (New York time) 10:00 a.m. at least two three (3) Business Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, a an Adjusted LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead the Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Credit Agreement (EarthLink Holdings Corp.)

Conversion/Continuation. (a) Subject to Section 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower the Borrowers shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 250,000 and integral multiples of $1,000,000 50,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan unless the Loan Parties Borrowers shall pay all amounts due under Section 2.17 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 250,000 and integral multiples of $1,000,000 50,000 in excess of that amount as a LIBOR Rate Loan. (b) Lead The Administrative Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 10:00 a.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower the Borrowers shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Debtor in Possession Credit and Guaranty Agreement (Syntax-Brillian Corp)

Conversion/Continuation. (a) Subject to Section 2.17 2.33 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that provided a LIBOR Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Eurodollar Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 2.33 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Eurodollar Rate Loan, to continue all or any portion of such Loan Loan, equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount amount, as a LIBOR Eurodollar Rate Loan. (b) Lead Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 10:00 a.m. (New York City time) at least two three Business Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Second Lien Credit and Guaranty Agreement (Paramount Acquisition Corp)

Conversion/Continuation. (a) Subject to Section 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead the Borrower shall have the option: (i) to convert at any time all or any part of any Term Revolving Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Eurodollar Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a LIBOR Eurodollar Rate Loan. (b) Lead The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than noon (New York City time) at least two Business Days in advance on the date of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, a LIBOR Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower shall be bound to effect a conversion or continuation in accordance therewith. (c) Notwithstanding anything to the contrary in the foregoing, no conversion in whole or in part to a Eurodollar Rate Loan shall be permitted at any time at which (i) a Default or Event of Default shall have occurred and be continuing or (ii) the continuation of, or conversion into, a Eurodollar Rate Loan would violate any provision of Sections 2.17 or 2.18. Protective Advances may not be converted to Eurodollar Rate Loans under any circumstances.

Appears in 1 contract

Samples: Revolving Credit Agreement (Source Interlink Companies Inc)

Conversion/Continuation. (a) Subject to Section 2.17 2.15 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead the Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Eurodollar Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 2.15 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a LIBOR Eurodollar Rate Loan. (b) Lead The Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent the Agents no later than noon 10:00 a.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead the Borrower shall be bound to effect a conversion or continuation in accordance therewith. If on any day a Loan is outstanding with respect to which a Funding Notice or Conversion/Continuation Notice has not been delivered to the Agents in accordance with the terms hereof specifying the applicable basis for determining the rate of interest, then for that day such Loan shall be a Base Rate Loan.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (BlueLinx Holdings Inc.)

Conversion/Continuation. (a) Subject to Section 2.17 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower Company shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 250,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Eurodollar Rate Loan unless the Loan Parties Company shall pay all amounts due under Section 2.17 2.18 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 250,000 in excess of that amount as a LIBOR Eurodollar Rate Loan. (b) Lead Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 10:00 a.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (American Reprographics CO)

Conversion/Continuation. (a) Subject to Section 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower Company shall have the option: (i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan unless the Loan Parties Company shall pay all amounts due under Section 2.17 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount as a LIBOR Rate Loan. (b) Lead Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 10:00 a.m. (New York City time) at least two one (1) Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Navisite Inc)

Conversion/Continuation. (a) Subject to Section 2.17 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower Company shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 250,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Eurodollar Rate Loan unless the Loan Parties Company shall pay all amounts due under Section 2.17 2.18 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 250,000 in excess of that amount as a LIBOR Eurodollar Rate Loan. (b) Lead Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 1:00 p.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Second Lien Credit and Guaranty Agreement (X Rite Inc)

Conversion/Continuation. (a) Subject to Section 2.17 and so So long as no Default or Event of Default shall have occurred and then be continuingcontinuing or would result therefrom, Lead the Borrower shall have the option: (i) to convert at any time all all, or any part part, of any Term Loan equal to One Hundred Thousand Dollars ($5,000,000 100,000) and integral multiples of Fifty Thousand Dollars ($1,000,000 50,000) in excess of that amount thereof from one Type of Loan to another Type of Loan; provided, that a that, an Adjusted LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such Adjusted LIBOR Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 3.1(c) in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any Adjusted LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a an Adjusted LIBOR Rate Loan. (b) Lead The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than noon (New York time) at least two Business Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and 1:00 p.m. at least three (3) Business Days in advance of the proposed conversionConversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan)Continuation Date. Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Adjusted LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead the Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Credit Agreement (Heritage Insurance Holdings, Inc.)

Conversion/Continuation. (a) Subject to Section 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower Company shall have the option: (i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $5,000,000 100,000 and integral multiples of $1,000,000 50,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan unless the Loan Parties Company shall pay all amounts due under Section 2.17 2.17(c) in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 100,000 and integral multiples of $1,000,000 50,000 in excess of that amount as a LIBOR Rate Loan. (b) Lead Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 10:00 a.m. (New York City time) at least two one (1) Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower Company shall be bound to effect a conversion or continuation in accordance therewith unless Company shall pay all amounts due under Section 2.17(c) in connection therewith. (c) This Section 2.08 shall not apply to Protective Advances, which may not be converted or continued.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Madison Square Garden Co)

Conversion/Continuation. (a) Subject to Section 2.17 2.21 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Eurodollar Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 2.21 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 in excess of that amount as a LIBOR Eurodollar Rate Loan. (b) Lead Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 11:00 a.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Dateirrevocable, and Lead Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Senior Secured Superpriority Debtor in Possession Credit Agreement (Lehman Brothers Holdings Inc)

Conversion/Continuation. (a) Subject to Section 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 2,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Eurodollar Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 2,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount as a LIBOR Eurodollar Rate Loan. (b) Lead Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 10:00 a.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate an ABR Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Dateirrevocable, and Lead Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Douglas Dynamics, Inc)

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Conversion/Continuation. (a) Subject to Section 2.17 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 in connection with any such conversion, or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a LIBOR Rate Loan. (b) Lead Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon (New York time) at least two Business Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Credit Agreement (Liberty Tax, Inc.)

Conversion/Continuation. (a) Subject SoSubject to Section 2.17 3.1 and so long as no Default or Event of Default shall have occurred and then be continuingexist immediately before or immediately after giving effect thereto, Lead the Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 100,000 and integral multiples of $1,000,000 50,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a an Adjusted LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such Adjusted LIBOR Rate Loan unless the Loan Parties Borrower shall pay all amounts Breakage Costs due under Section 2.17 3.1(c) in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any Adjusted LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a an Adjusted LIBOR Rate Loan. (b) Lead The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than noon (New York time) at least two Business Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and 10:00 a.m. at least three (3) Business Days in advance of the proposed conversionConversion/continuation date (Continuation Date in the case of a conversion to, into an Adjusted LIBOR Rate Loan or a continuation of, a LIBOR Rate Loan)thereof. Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any an Adjusted LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower shall be bound to effect a conversion or continuation in accordance therewithirrevocable.

Appears in 1 contract

Samples: Credit Agreement (Pfsweb Inc)

Conversion/Continuation. (a) Subject to Section 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower Company shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 and integral multiples of $1,000,000 5,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Rate SOFR Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate SOFR Loan unless the Loan Parties Company shall pay all amounts due under Section 2.17 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate SOFR Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 5,000,000 in excess of that amount as a LIBOR Rate SOFR Loan. (b) Lead Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 12:00 p.m. (New York City time) at least two one (1) Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate SOFR Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate SOFR Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower Company shall be bound to effect a conversion or continuation in accordance therewith. If no Conversion/Continuation Notice is delivered at the end of an Interest Period for any Loan, such Loan shall be continued as a SOFR Loan with an Interest Period of three months.

Appears in 1 contract

Samples: Financing Agreement (Apellis Pharmaceuticals, Inc.)

Conversion/Continuation. (a) Subject to Section 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead the Applicable Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan unless the Loan Parties Applicable Borrower shall pay all amounts due under Section 2.17 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount as a LIBOR Rate Loan. (b) Lead The Applicable Borrower shall deliver a Conversion/Continuation Notice to Borrowing Base Agent and Administrative Agent no later than noon 10:00 a.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead the Applicable Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Syntax-Brillian Corp)

Conversion/Continuation. (a) Subject to Section 2.17 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 2,500,000 and integral multiples of $1,000,000 500,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Eurodollar Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 2.18 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 2,500,000 and integral multiples of $1,000,000 500,000 in excess of that amount as a LIBOR Eurodollar Rate Loan. (b) Lead Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 12:00 noon (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Eurodollar Rate Loans (or telephonic notice in lieu thereofthereof to be confirmed in writing) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Och-Ziff Capital Management Group LLC)

Conversion/Continuation. (a) Subject to Section 2.17 and so long as no Default 2.14 (Making or Event of Default shall have occurred and then be continuingMaintaining LIBOR Advance), Lead a Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan Advance equal to $5,000,000 100,000 and integral multiples of $1,000,000 100,000 in excess of that amount from one Type of Loan Advance to another Type of LoanAdvance; provided, that a LIBOR Rate Loan Advance may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan Advance unless the Loan Parties applicable Borrower shall pay all amounts due under Section 2.17 2.14 (Making or Maintaining LIBOR Advance) in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate LoanAdvance, to continue all or any portion of such Loan Advance equal to $5,000,000 100,000 and integral multiples of $1,000,000 100,000 in excess of that amount as a LIBOR Rate LoanAdvance. (b) Lead A Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent the Lenders no later than noon 10:00 a.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate LoanAdvance) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate LoanAdvance). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans Advances (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower the Borrowers shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Revolving Credit Agreement (TBS International LTD)

Conversion/Continuation. (a) Subject to Section ‎Section 2.17 and ‎Section 2.23 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section ‎Section 2.17 in connection with any such conversion, or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a LIBOR Rate Loan. (b) Lead Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon (New York time) at least two (2) Business Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Credit Agreement (Orbital Energy Group, Inc.)

Conversion/Continuation. (a) Subject to Section 2.17 2.16 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower Company shall have the option: (i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan unless the Loan Parties Company shall pay all amounts due under Section 2.17 2.16(c) in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount as a LIBOR Rate Loan. (b) Lead Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 10:00 a.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Index Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Ipc Acquisition Corp)

Conversion/Continuation. (a) Subject to Section 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower Company shall have the option: (i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $5,000,000 100,000 and integral multiples of $1,000,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan unless the Loan Parties Company shall pay all amounts due under Section 2.17 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 100,000 and integral multiples of $1,000,000 100,000 in excess of that amount as a LIBOR Rate Loan. (b) Lead Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 12:00 p.m. (New York City time) at least two one (1) Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Mortons Restaurant Group Inc)

Conversion/Continuation. (a) Subject to Section 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 2,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Eurodollar Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 2,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount as a LIBOR Eurodollar Rate Loan. (b) Lead Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 10:00 a.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate an ABR Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Dateirrevocable, and Lead Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Douglas Dynamics, Inc)

Conversion/Continuation. (a) Subject to Section 2.17 2.14 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead the Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR LIBO Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR LIBO Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 2.14 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR LIBO Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a LIBOR LIBO Rate Loan. (b) Lead The Borrower shall deliver a Conversion/Continuation Notice to Administrative the Agent no later than noon 12:00 p.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR LIBO Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR LIBO Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead the Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Credit Agreement (National Semiconductor Corp)

Conversion/Continuation. (a) Subject to Section 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower Company shall have the option: (i) to convert at any time all or any part of any the Term Loan equal to $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount from one Type of Term Loan to another Type of Loan; provided, that a LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan unless the Loan Parties Company shall pay all amounts due under Section 2.17 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such Term Loan equal to $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount as a LIBOR Rate Loan. (b) Lead Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 10:00 a.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Vertex Energy Inc.)

Conversion/Continuation. (a) Subject to Section 2.17 2.17, and so long as no Default or Event of Default shall have has occurred and then be is continuing, Lead and notice has not been given to the Borrower by the Administrative Agent in writing pursuant to Section 2.7(c), the Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 1,000,000, and integral multiples of $1,000,000 500,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, provided that a LIBOR Rate SOFR Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate SOFR Loan unless the Loan Parties Borrower shall pay all any amounts due under Section 2.17 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate SOFR Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a LIBOR Rate SOFR Loan. (b) Lead The Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 12:00 noon (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate SOFR Loan) (or, in each case, such shorter period in advance of such conversion/continuation date as the Administrative Agent may agree in its sole discretion). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate SOFR Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead the Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Credit Agreement (Keypath Education International, Inc.)

Conversion/Continuation. (a) Subject to Section 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower the Companies shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan unless the Loan Parties Companies shall pay all amounts due under Section 2.17 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount as a LIBOR Rate Loan. (b) Lead Borrower The Company Representative shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 10:00 a.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower the Companies shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Meridian Waste Solutions, Inc.)

Conversion/Continuation. (a) Subject to Section 2.17 3.04 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan of the applicable Class equal to $5,000,000 500,000 and integral multiples of $1,000,000 50,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 3.04 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such Loan of such Class equal to $5,000,000 500,000 and integral multiples of $1,000,000 50,000 in excess of that amount as a LIBOR Rate Loan. (b) Lead Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 10:00 a.m. (New York Pacific time) at least two one (1) Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Credit Agreement (Fusion Telecommunications International Inc)

Conversion/Continuation. (a) Subject to Section 2.17 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower Company shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Eurodollar Rate Loan unless the Loan Parties Company shall pay all amounts due under Section 2.17 2.18 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 in excess of that amount as a LIBOR Eurodollar Rate Loan. (b) Lead Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 10:00 a.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Unsecured Credit and Guaranty Agreement (CVR Energy Inc)

Conversion/Continuation. (a) Subject to Section 2.17 2.14 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower Company shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Eurodollar Rate Loan unless the Loan Parties Company shall pay all amounts due under Section 2.17 2.14 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 in excess of that amount as a LIBOR Eurodollar Rate Loan. (b) Lead Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 10:00 a.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Connetics Corp)

Conversion/Continuation. (a) Subject to Section 2.17 and so long as no 2.18 (and, if a Default or Event of Default shall have occurred and then be continuing, Lead Borrower the Administrative Agent has not provided notice to the contrary), Borrowers shall have the option: (i) to convert at any time all or any part of any Domestic Tranche C Term Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Eurodollar Rate Loan unless the Loan Parties applicable Borrower shall pay all amounts due under Section 2.17 2.18 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of each applicable amount as a Eurodollar Rate Loan in excess of that amount as a LIBOR Eurodollar Rate Loan. (b) Lead The U.S. Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 10:00 a.m. (New York timeLocal Time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Eurodollar Rate Loan); provided that, European Term Loans and European Revolving Loans may only be continued as Eurodollar Rate Loans. Except as otherwise provided herein, a Conversion/Continuation Notice for conversion toto (solely with respect to Domestic Loans), or continuation of, any LIBOR Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower Borrowers shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: First Lien Credit and Guaranty Agreement (Solera Holdings LLC)

Conversion/Continuation. (a) Subject to Section 2.17 2.16 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower Company shall have the option: (i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR LIBO Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR LIBO Rate Loan unless the Loan Parties Company shall pay all amounts due under Section 2.17 2.16 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR LIBO Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 100,000 in excess of that amount as a LIBOR LIBO Rate Loan. (b) Lead Borrower Subject to Section 3.2(b), Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 10:00 a.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR LIBO Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR LIBO Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower Company shall be bound to effect a conversion or continuation in accordance therewith. If on any day a Loan is outstanding with respect to which a Funding Notice or Conversion/Continuation Notice has not been delivered to Administrative Agent in accordance with the terms hereof specifying the applicable basis for determining the rate of interest, then, for that day, such Loan shall be a Base Rate Loan.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (P10, Inc.)

Conversion/Continuation. (a) Subject to Section 2.17 2.15 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Eurodollar Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 2.15 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a LIBOR Eurodollar Rate Loan. (b) Lead . Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 10:00 a.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Second Lien Credit and Guaranty Agreement (Movie Gallery Inc)

Conversion/Continuation. (a) Subject to Section 2.17 2.15 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower Company shall have the option: (i) to convert at any time all or any part of any Term Loan the Loans equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount from one Type of Loan to another Type of LoanLoan (or such lesser amount as shall be agreed to by Company and Administrative Agent or as shall constitute the aggregate amount of the Type of Loans to be converted); provided, that a LIBOR Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Eurodollar Rate Loan unless the Loan Parties Company shall pay all amounts due under Section 2.17 2.15 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount as a LIBOR Eurodollar Rate LoanLoan (or such lesser amount as shall be agreed to by Company and Administrative Agent or as shall constitute the aggregate amount of the Type of Loans to be continued). (b) Lead Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 12:00 noon (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Energy Transfer Partners, L.P.)

Conversion/Continuation. (a) Subject to Section 2.17 and so So long as no Default or Event of Default shall have occurred and then be continuingexist immediately before or immediately after giving effect thereto, Lead the Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 100,000 and integral multiples of $1,000,000 50,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a an Adjusted LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such Adjusted LIBOR Rate Loan unless the Loan Parties Borrower shall pay all amounts Breakage Costs due under Section 2.17 3.1(c) in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any Adjusted LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a an Adjusted LIBOR Rate Loan. (b) Lead The Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than noon (New York time) at least two Business Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and 10:00 a.m. at least three (3) Business Days in advance of the proposed conversionConversion/continuation date (Continuation Date in the case of a conversion to, into an Adjusted LIBOR Rate Loan or a continuation of, a LIBOR Rate Loan)thereof. Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any an Adjusted LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower shall be bound to effect a conversion or continuation in accordance therewithirrevocable.

Appears in 1 contract

Samples: Credit Agreement (Pfsweb Inc)

Conversion/Continuation. (a) Subject to Section 2.17 1.4 and Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 2.18 in connection with any such conversion, conversion (if any); or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount as a LIBOR Rate Loan. (b) Lead Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 10:00 a.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (GPB Holdings II, LP)

Conversion/Continuation. (a) Subject to Section 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 and integral multiples of $1,000,000 5,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Rate SOFR Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate SOFR Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate SOFR Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 5,000,000 in excess of that amount as a LIBOR Rate SOFR Loan. (b) Lead Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 1:00 p.m. (New York City time) at least two one (1) Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate SOFR Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate SOFR Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Financing Agreement (Tg Therapeutics, Inc.)

Conversion/Continuation. (a) Subject to Section 2.17 3.1 and so long as no Default or Event of Default shall have occurred and then be continuingcontinuing or would result therefrom, Lead the applicable Borrower shall have the option: (i) to convert at any time all or any part of any Term Loan equal to $5,000,000 100,000 and integral multiples of $1,000,000 50,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a an Adjusted LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such Adjusted LIBOR Rate Loan unless the Loan Parties such Borrower shall pay all amounts due under Section 2.17 2.15 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any Adjusted LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount as a Adjusted LIBOR Rate Loan. (b) Lead The applicable Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than noon (New York time) 10:00 a.m. at least two three (3) Business Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, a an Adjusted LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead such Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Credit Agreement (Earthlink Inc)

Conversion/Continuation. (a) Subject to Section 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower the Borrowers shall have the option: (i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Rate Loan unless the Loan Parties Borrowers shall pay all amounts due under Section 2.17 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount as a LIBOR Rate Loan. (b) Lead The Borrower Representative shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 10:00 a.m. (New York City time) at least two one Business Days Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower the Borrowers shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Handleman Co /Mi/)

Conversion/Continuation. (a) Subject to Section 2.17 2.33 and so long as no Default or Event of Default shall have occurred and then be continuing, Lead Borrower shall have the option: (i) to convert at any time all or any part of any (x) Term Loan equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount or (y) Revolving Loan equal to $500,000 and integral multiples of $250,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that provided a LIBOR Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such LIBOR Eurodollar Rate Loan unless the Loan Parties Borrower shall pay all amounts due under Section 2.17 2.33 in connection with any such conversion, ; or (ii) upon the expiration of any Interest Period applicable to any LIBOR Eurodollar Rate Loan, to continue all or any portion of such Loan Loan, if (x) a Term Loan, equal to $5,000,000 and integral multiples of $1,000,000 in excess of that amount and, if (y) a Revolving Loan, equal to $500,000 and integral multiples of $250,000 in excess of that amount, as a LIBOR Eurodollar Rate Loan. (b) Lead Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than noon 10:00 a.m. (New York City time) at least two three Business Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a LIBOR Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any LIBOR Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and Lead Borrower shall be bound to effect a conversion or continuation in accordance therewith.

Appears in 1 contract

Samples: First Lien Credit and Guaranty Agreement (Paramount Acquisition Corp)

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