Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers shall have the option: (i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 and integral multiples of $500,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers shall pay all amounts due under Section 2.18 in connection with any such conversion; or (ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 and integral multiples of $500,000 in excess of that amount as a Eurodollar Rate Loan. (b) The relevant Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 4 contracts
Samples: Amendment Agreement (Education Management Corporation), Credit and Guaranty Agreement (Education Management LLC), Credit and Guaranty Agreement (Education Management LLC)
Conversion/Continuation. (a) Subject to Section 2.18 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower Representative shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 2,000,000 and integral multiples of $500,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower Representative shall pay all amounts due under Section 2.18 2.17 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Revolving Loan equal to $1,000,000 2,000,000 and integral multiples of $500,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower Representative shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business 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 Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Dateirrevocable, and the related Borrower Representative 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 2.18 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 3,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; providedprovided that, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 2.17 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 3,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/conversion or continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 3 contracts
Samples: Credit Agreement (Regal Entertainment Group), Credit Agreement (Regal Entertainment Group), Credit Agreement (Regal Entertainment Group)
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers the Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a Eurodollar Eurocurrency Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Eurocurrency Rate Loan unless Borrowers the Borrower shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Eurocurrency Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Eurocurrency Rate Loan; provided that, for the avoidance of doubt, no conversion or continuation of any Loan pursuant to this Section 2.09 shall affect the currency in which such Loan is denominated prior to any such conversion or continuation and each such Loan shall remain outstanding denominated in the currency originally issued.
(b) The relevant Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 10:00 11:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and ), at least three Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, a Eurodollar Eurocurrency Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Eurocurrency Rate Loans (or telephonic notice in lieu thereof) Loans, shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 3 contracts
Samples: Credit Agreement, Credit Agreement (PVH Corp. /De/), Credit Agreement (PVH Corp. /De/)
Conversion/Continuation. (a) Subject to Section 2.18 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Company shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 and integral multiples of $500,000 in excess of that amount from one Type of Loan to another Type of Loan; providedPROVIDED, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Company shall pay all amounts due under Section 2.18 2.17 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 2,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. 1:00 p.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (Vca Antech Inc), Credit and Guaranty Agreement (Vca Antech Inc)
Conversion/Continuation. (a) Subject to Section 2.18 2.14 and so long as no Default or Event of Default shall have occurred and then be continuingcontinuing unless Requisite Lenders consent to permit such conversion or continuation, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 2.14 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Term Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower shall deliver a Conversion/Continuation Notice to Administrative Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (Exopack Holding Corp), Credit and Guaranty Agreement (Exopack Holding Corp)
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all of any Term Loan or any part of any Term Loan or Revolving Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount amount, from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all of such Loan or any portion of such Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City London time) at least one two Business Day Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three four Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (3com Corp), Credit and Guaranty Agreement (3com Corp)
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 3,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; providedprovided that, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 3,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/conversion or continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 2 contracts
Samples: Credit Agreement (Regal Entertainment Group), Credit Agreement (Regal Entertainment Group)
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower Borrowers shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. 2:00 p.m. (New York City time) at least one (1) Business 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 conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower Borrowers shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 2 contracts
Samples: Credit Agreement, Superpriority Debtor in Possession Credit and Guaranty Agreement
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (AbitibiBowater Inc.), Credit and Guaranty Agreement (AbitibiBowater Inc.)
Conversion/Continuation. (a) Subject to Section 2.18 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Company shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 and integral multiples of $500,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Company shall pay all amounts due under Section 2.18 2.17 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 2,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. 1:00 p.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (Vca Antech Inc), Credit and Guaranty Agreement (Vca Antech Inc)
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 2,000,000 and integral multiples of $500,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 2,000,000 and integral multiples of $500,000 100,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Subject to Section 3.2(b), Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one three Business Day Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related 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 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 2 contracts
Samples: Credit and Guaranty Agreement, Credit and Guaranty Agreement (TerraForm Power, Inc.)
Conversion/Continuation. (a) Subject to Section 2.18 2.33 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers shall have the option:
(i) to convert at any time all or any part of any Term Loan, Incremental Term Loan or Revolving Loan equal to $1,000,000 and integral multiples of $500,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, provided a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers shall pay all amounts due under Section 2.18 2.33 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 and integral multiples of $500,000 100,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower Borrowers shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. 3:00 p.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower Borrowers shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (Prommis Solutions Holding Corp.), Credit and Guaranty Agreement (Prommis Solutions Holding Corp.)
Conversion/Continuation. (a) Subject to Section 2.18 2.15 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers the Company shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount from one Type of Term Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers the Company shall pay all amounts due under Section 2.18 2.15 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Term Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower Company shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 2 contracts
Samples: Credit Agreement (Calpine Corp), Credit and Guaranty Agreement (Tesoro Petroleum Co Inc)
Conversion/Continuation. (a) Subject to Section 2.18 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers the Companies shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 500,000 and integral multiples of $500,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar LIBOR Rate Loan unless Borrowers the Companies shall pay all amounts due under Section 2.18 2.17 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar LIBOR Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 500,000 and integral multiples of $500,000 100,000 in excess of that amount as a Eurodollar LIBOR Rate Loan.
(b) The relevant Borrower Company Representative shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, a Eurodollar LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower Companies shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (Meridian Waste Solutions, Inc.), Credit and Guaranty Agreement (Meridian Waste Solutions, Inc.)
Conversion/Continuation. (a) Subject to Section 2.18 2.15 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 2.15 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Subject to Section 3.2(c), Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 2 contracts
Samples: Senior Secured Super Priority Debtor in Possession and Exit Credit and Guaranty Agreement (Tronox Inc), Senior Secured Super Priority Debtor in Possession and Exit Credit and Guaranty Agreement
Conversion/Continuation. (a) Subject to Section 2.18 and so So long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted into a Base Rate Loan on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers if Borrower shall pay all amounts due under Section 2.18 2.16 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. A.M. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (Allegiance Telecom Inc), Credit and Guaranty Agreement (Allegiance Telecom Inc)
Conversion/Continuation. (a) Subject to Section 2.18 2.15 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 and integral multiples of $500,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 2.15 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 and integral multiples of $500,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Subject to Section 3.2(b), Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related 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 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 2 contracts
Samples: Credit and Guaranty Agreement (Hamilton Lane INC), Credit and Guaranty Agreement (Hamilton Lane INC)
Conversion/Continuation. (a) Subject to Section 2.18 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers the Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 2,000,000 and integral multiples of $500,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers the Borrower shall pay all amounts due under Section 2.18 2.17 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 2,000,000 and integral multiples of $500,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business 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 Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Dateirrevocable, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Samples: Amendment and Restatement Agreement (Douglas Dynamics, Inc)
Conversion/Continuation. (a) Subject to Section 2.18 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers the Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 and integral multiples of $500,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a -------- Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers the Borrower shall pay all amounts due under Section 2.18 2.17 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 and integral multiples of $500,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one (1) Business 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 Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Conversion/Continuation. (a) Subject to Section 2.18 2.19 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 2.19 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant . Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent (with a copy to Collateral Agent) no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Samples: First Lien Credit and Guaranty Agreement (Movie Gallery Inc)
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 and integral multiples of $500,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 and integral multiples of $500,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Administrative Borrower shall deliver a Conversion/Conversion/ Continuation Notice to Administrative Agent no later than 10:00 a.m. 12:00 p.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower Borrowers 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 (AVG Technologies N.V.)
Conversion/Continuation. (a) Subject to Section 2.18 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Company shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $$ 1,000,000 and integral multiples of $500,000 in excess of that amount from one Type of Loan to another Type of Loan; providedPROVIDED, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Company shall pay all amounts due under Section 2.18 2.17 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 2,000,000 and integral multiples of $500,000 $ 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. 1:00 p.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (Veterinary Centers of America Inc)
Conversion/Continuation. (a) Subject to Section 2.18 2.15 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers the Borrower Representative shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 and integral multiples of $500,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, provided that a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless the Borrowers shall pay all amounts due under Section 2.18 2.15 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Term Loan equal to $1,000,000 and integral multiples of $500,000 100,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Subject to Section 3.2(b), the Borrower Representative shall deliver a Conversion/Continuation Notice to the Administrative Agent by Electronic Transmission no later than 10:00 11:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date Conversion/Continuation Date (in the case of a conversion to a Base Rate an ABR Loan) and at least three Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower Borrowers shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 500,000 and integral multiples of $500,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 500,000 and integral multiples of $500,000 100,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent Agents no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Conversion/Continuation. (ai) Subject to Section 2.18 2.6 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, Borrowers the Borrower shall have the option:
(ia) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 200,000,000 and integral multiples of $500,000 25,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar LIBOR Rate Loan unless Borrowers the Borrower shall pay all amounts due under Section 2.18 2.6 in connection with any such conversion; or
(iib) upon the expiration of any Interest Period applicable to any Eurodollar LIBOR Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 200,000,000 and integral multiples of $500,000 25,000,000 in excess of that amount as a Eurodollar LIBOR Rate Loan.
(bii) The relevant Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 10:00 11:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar LIBOR Rate Loans (or telephonic notice $650,000,000 CREDIT AGREEMENT in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Samples: Credit Agreement (Assurant Inc)
Conversion/Continuation. (a) Subject to Section 2.18 2.16 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Company shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 500,000 and integral multiples of $500,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a -------- Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Company shall pay all amounts due under Section 2.18 2.16(c) in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 500,000 and integral multiples of $500,000 100,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related 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 2.18 and so long as no Default or Event of Default shall will have occurred and then be continuing, Borrowers shall the Borrower will have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 100,000 and integral multiples of $500,000 50,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, provided that a Eurodollar Rate SOFR Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate SOFR Loan unless Borrowers shall the Borrower will pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate SOFR Loan, to continue all or any portion of such Loan equal to $1,000,000 100,000 and integral multiples of $500,000 50,000 in excess of that amount as a Eurodollar Rate SOFR Loan.
(b) The relevant Borrower shall will deliver a Conversion/Continuation Notice to the Administrative Agent by Electronic Transmission no later than 10:00 11:00 a.m. (New York City time) at least one (1) Business 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 Eurodollar Rate SOFR Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate SOFR Loans (or telephonic notice in lieu thereof) shall will be irrevocable on and after the related Interest Rate Determination Datedate of receipt thereof by the Administrative Agent, and the related Borrower shall will be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Subject to Section 3.2(b), Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith. If Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Eurodollar Rate Loans shall automatically continue as Eurodollar Rate Loans having an Interest Period of one month (or such other Interest Period as Borrower and Administrative Agent may agree).
Appears in 1 contract
Samples: First Lien Credit and Guaranty Agreement (Alion Science & Technology Corp)
Conversion/Continuation. (a) Subject to Section 2.18 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers 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 $1,000,000 and integral multiples of $500,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of -------- the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers the applicable Borrower shall pay all amounts due under Section 2.18 2.17 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 and integral multiples of $500,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant applicable Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one (1) Business 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 Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related applicable Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Conversion/Continuation. (a) Subject to Section 2.18 2.17 and so long as no Default or Event of Default shall have occurred and then be continuingcontinuing (in the case of a conversion to, Borrowers or a continuation of, a Eurodollar Rate Loan), the Borrower shall have the option:
(i) to convert at convert, on any time Business Day, all or any part of any Term Loan or Revolving the Loan equal to $1,000,000 150,000 and integral multiples of $500,000 50,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers the Borrower shall pay all amounts due under Section 2.18 2.17 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Eurodollar Rate Loan equal to $1,000,000 150,000 and integral multiples of $500,000 50,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 10:00 a.m. 2:00 p.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith. The Administrative Agent shall give each Lender prompt notice of any such proposed conversion affecting any of its Loans.
Appears in 1 contract
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount from one Type of Term Loan to another Type of Term Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Dateirrevocable, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Samples: Term Loan and Guaranty Agreement (Fedders Corp /De)
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Company shall have the option:
(i) to convert at any time all or any part of any Term Revolving Loan or Revolving Hedge L/C Loan equal to $1,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Company shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (Belden & Blake Corp /Oh/)
Conversion/Continuation. (a) Subject to Section 2.18 2.15 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers the Company shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan in Dollars equal to $1,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Eurocurrency Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Eurocurrency Rate Loan unless Borrowers Company shall pay all amounts due under Section 2.18 2.15 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Eurocurrency Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 or E1,000,000 and integral multiples of $500,000 1,000,000 or E1,000,000 in excess of that amount as a Eurodollar Eurocurrency Rate Loan.
(b) The relevant Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City timeLocal Time) at least one Business Day in advance of on the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Eurocurrency Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Eurocurrency Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall will have occurred and then be continuing, Borrowers shall the Borrower will have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 100,000 and integral multiples of $500,000 50,000 in excess of that amount from one Type of Term Loan to another Type of Term Loan; provided, provided that a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers shall the Borrower will pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Term Loan equal to $1,000,000 100,000 and integral multiples of $500,000 50,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower shall will deliver a Conversion/Continuation Notice to the Administrative Agent by Electronic Transmission no later than 10:00 11:00 a.m. (New York City time) at least one (1) Business 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 Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall will be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall will be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (Lumentum Holdings Inc.)
Conversion/Continuation. (a) Subject to Section 2.18 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Company shall have the option:
(i) to convert at any time all or any part of any Term Loan, Revolving Loan or Revolving Incremental Loan equal to $1,000,000 500,000 and integral multiples of $500,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Company shall pay all amounts due under Section 2.18 2.17 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 500,000 and integral multiples of $500,000 100,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (Los Angeles time)/1:00 p.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (Entravision Communications Corp)
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business 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 Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 and integral multiples of $500,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 and integral multiples of $500,000 100,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower Borrowers shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. 12:00 noon (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower Borrowers shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (Eagle Rock Energy Partners, L.P.)
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default under Section 8.1(a) or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 and integral multiples of $500,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 3,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount from one Type of Revolving Loan to another Type of Revolving Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Revolving Loan equal to $1,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower Agent shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 11:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Dateirrevocable, and the related Borrower Borrowers shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Samples: Revolving Loan and Guaranty Agreement (Fedders Corp /De)
Conversion/Continuation. (a) Subject to Section 2.18 2.17 and so long as no Default or Event of Default shall have occurred and then be continuingcontinuing (in the case of a conversion to, Borrowers or a continuation of, a Eurodollar Rate Loan), the Borrower shall have the option:
(i) to convert at convert, on any time Business Day, all or any part of any Term Loan or Revolving Loan equal to $1,000,000 150,000 and integral multiples of $500,000 50,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers the Borrower shall pay all amounts due under Section 2.18 2.17 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Eurodollar Rate Loan equal to $1,000,000 150,000 and integral multiples of $500,000 50,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith. The Administrative Agent shall give each Lender prompt notice of any such proposed conversion affecting any of its Loans.
Appears in 1 contract
Samples: Revolving Credit and Guaranty Agreement (REV Group, Inc.)
Conversion/Continuation. (a) Subject to Section 2.18 2.17 and so long as no Default or Event of Default shall have occurred and then be continuingcontinuing (in the case of a conversion to, Borrowers or a continuation of, a Eurodollar Rate Loan), the Borrower shall have the option:
(i) to convert at convert, on any time Business Day, all or any part of any Term Loan or Revolving Loan equal to $1,000,000 150,000 and integral multiples of $500,000 50,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers the Borrower shall pay all amounts due under Section 2.18 2.17 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Eurodollar Rate Loan equal to $1,000,000 150,000 and integral multiples of $500,000 50,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 10:00 a.m. 2:00 p.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith. The Administrative Agent shall give each Lender prompt notice of any such proposed conversion affecting any of its Loans.
Appears in 1 contract
Samples: Revolving Credit and Guaranty Agreement (REV Group, Inc.)
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 and integral multiples of $500,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 and integral multiples of $500,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Subject to Section 3.2(b), Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one (1) Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related 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 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: Second Lien Credit and Guaranty Agreement (American Casino & Entertainment Properties LLC)
Conversion/Continuation. (a) Subject to Section 2.18 2.16 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Company shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount from one Type of Term Loan to another Type of Term Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Company shall pay all amounts due under Section 2.18 2.16 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Eurodollar Rate Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. 12:00 noon. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (Xo Communications Inc)
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, Date and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time on the last day of an Interest Period all or any part of any Term Loan or Revolving Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount from one Type of Loan Base Rate Loans to another Type of LoanEurodollar Rate Loans, or vice versa; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date Conversion/Continuation Date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (Global Crossing LTD)
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default under Section 8.1(a) or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 and integral multiples of $500,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 3,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers the Company shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 and integral multiples of $500,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers the Company shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 and integral multiples of $500,000 100,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. 1:00 p.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (Bell Powersports, Inc.)
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 and integral multiples of $500,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 and integral multiples of $500,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Subject to Section 2.24, Borrower shall deliver a Conversion/Conversion/ Continuation Notice to Administrative Agent no later than 10:00 a.m. 1:00 p.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related 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 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 (Cypress Semiconductor Corp /De/)
Conversion/Continuation. (a) Subject to Section 2.18 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 250,000 and integral multiples of $500,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a Eurodollar LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar LIBOR Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 2.17 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar LIBOR Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 250,000 and integral multiples of $500,000 100,000 in excess of that amount as a Eurodollar LIBOR Rate Loan.
(b) The relevant Borrower shall deliver a Conversion/Continuation Notice to Borrowing Base Agent and Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business 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 Eurodollar LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (Proliance International, Inc.)
Conversion/Continuation. (a) Subject to Section 2.18 2.16 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Company shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 and integral multiples of $500,000 250,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Company shall pay all amounts due under Section 2.18 2.16 in connection with any such conversion; oror FIRST LIEN CREDIT AGREEMENT EXECUTION 37
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 and integral multiples of $500,000 250,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 and integral multiples of $500,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 and integral multiples of $500,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Subject to Section 3.2(b), Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one (1) Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related 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 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: First Lien Credit and Guaranty Agreement (American Casino & Entertainment Properties LLC)
Conversion/Continuation. (a) Subject to Section 2.18 2.15 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 and integral multiples of $500,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 2.15 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 and integral multiples of $500,000 100,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers the Company shall have the option:
(i) to convert at any time all or any part of any Second Lien Term Loan or Revolving Loan equal to $1,000,000 500,000 and integral multiples of $500,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Eurocurrency Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Eurocurrency Rate Loan unless Borrowers the Company shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Eurocurrency Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 500,000 and integral multiples of $500,000 100,000 in excess of that amount as a Eurodollar Eurocurrency Rate Loan.
(b) The relevant Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. 12:00 p.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Eurocurrency Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Eurocurrency Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (Day International Group Inc)
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 and integral multiples of $500,000 250,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 and integral multiples of $500,000 250,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower Borrowers shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 11:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower Borrowers shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Conversion/Continuation. (a) Subject to Section 2.18 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 and integral multiples of $500,000 750,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 2.17 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 and integral multiples of $500,000 750,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant . Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Conversion/Continuation. (a) Subject to Section 2.18 2.33 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers the Lead Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 and integral multiples of $500,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, provided a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless the Borrowers shall pay all amounts due under Section 2.18 2.33 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan Loan, if a Revolving Loan, equal to $1,000,000 and integral multiples of $500,000 100,000 in excess of that amount amount, as a Eurodollar Rate Loan.
(b) The relevant Lead Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. 12:00 p.m. (New York City time) at least one three Business Day Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Lead Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall will have occurred and then be continuing, Borrowers shall the Borrower will have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 100,000 and integral multiples of $500,000 50,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, provided that a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers shall the Borrower will pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 100,000 and integral multiples of $500,000 50,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower shall will deliver a Conversion/Continuation Notice to the Administrative Agent by Electronic Transmission no later than 10:00 11:00 a.m. (New York City time) at least one (1) Business 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 Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall will be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall will be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 and integral multiples of $500,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 2,500,000 and integral multiples of $500,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. 12:00 p.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (American Medical Systems Holdings Inc)
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 2,000,000 and integral multiples of $500,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 2,000,000 and integral multiples of $500,000 100,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Subject to Section 3.2(b), Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one three Business Day Days in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversionConversion/continuation date Continuation Date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related 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 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 (Terraform Global, Inc.)
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Company shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Company shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (Mariner Health Care Inc)
Conversion/Continuation. (a) Subject to Section 2.18 2.33 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers 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 $1,000,000 250,000 and integral multiples of $500,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, provided a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers shall pay all amounts due under Section 2.18 2.33 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 250,000 and integral multiples of $500,000 100,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant applicable Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (Tumi Holdings, Inc.)
Conversion/Continuation. (ai) Subject to Section 2.18 2.6 and so long as no Potential Event of Default or Event of Default shall have occurred and then be continuing, Borrowers the Borrower shall have the option:
(ia) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 200,000,000 and integral multiples of $500,000 25,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar LIBOR Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar LIBOR Rate Loan unless Borrowers the Borrower shall pay all amounts due under Section 2.18 2.6 in connection with any such conversion; or
(iib) upon the expiration of any Interest Period applicable to any Eurodollar LIBOR Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 200,000,000 and integral multiples of $500,000 25,000,000 in excess of that amount as a Eurodollar LIBOR Rate Loan.
(bii) The relevant Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 10:00 11:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar LIBOR Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar LIBOR Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.. $1,100,000,000 CREDIT AGREEMENT
Appears in 1 contract
Samples: Credit Agreement (Assurant Inc)
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers the Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 and integral multiples of $500,000 250,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers the Borrower shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 and integral multiples of $500,000 250,000 in excess of that amount as a Eurodollar Rate Loan.
(b) Subject to Section 3.2(b), The relevant Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 11:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related 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 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 (Northstar Realty Finance Corp.)
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Subject to Section 3.2(b), Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (Valeant Pharmaceuticals International)
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers NewPageCo shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers NewPageCo shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Term Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower NewPageCo shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower NewPageCo shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Samples: Term Loan Credit and Guaranty Agreement (NewPage CORP)
Conversion/Continuation. (a) Subject to Section 2.18 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 and integral multiples of $500,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 2.17 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 and integral multiples of $500,000 100,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Samples: Revolving Credit and Guaranty Agreement (Stanadyne Corp)
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers the Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 500,000 and integral multiples of $500,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers the Borrower shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 500,000 and integral multiples of $500,000 100,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower shall deliver a Conversion/Continuation Notice to the Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business 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 Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith. The Administrative Agent shall promptly give each Lender written notice (or telephonic notice promptly confirmed in writing) of receipt of a Conversion/Continuation Notice and the matters covered by such Conversion/Continuation Notice.
Appears in 1 contract
Samples: Second Lien Credit and Guaranty Agreement (RadNet, Inc.)
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Company shall have the option:
(i) to convert at any time all or any part of any Term Loan, Revolving Loan or Revolving Hedge L/C Loan equal to $1,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Company shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (Belden & Blake Corp /Oh/)
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 500,000 and integral multiples of $500,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 500,000 and integral multiples of $500,000 100,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Samples: Second Lien Credit and Guaranty Agreement (Gentek Inc)
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Company shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 3,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Company shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 3,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City Chicago time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, date given and the related Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (Payless Shoesource Inc /De/)
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall will have occurred and then be continuing, Borrowers shall the Borrower will have the option:
(i) to convert at any time all or any part of any Term Loan or Incremental Revolving Loan equal to $1,000,000 100,000 and integral multiples of $500,000 50,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, provided that a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers shall the Borrower will pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 100,000 and integral multiples of $500,000 50,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower shall will deliver a Conversion/Continuation Notice to the Administrative Agent by Electronic Transmission no later than 10:00 a.m. 12:00 p.m. (New York City time) at least one (1) Business 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 Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall will be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall will be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Conversion/Continuation. 63 -
(a) Subject to Section 2.18 2.17 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 and integral multiples of $500,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, that a Eurodollar Rate Term SOFR Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Term SOFR Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 2.17 in connection with any such conversion; , or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Term SOFR Loan, to continue all or any portion of such Loan equal to $1,000,000 and integral multiples of $500,000 100,000 in excess of that amount as a Eurodollar Rate Term SOFR Loan.
(b) The relevant Borrower shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. noon (New York City time) at least one two (2) Business Day 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 Eurodollar Rate Term SOFR Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Term SOFR Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Samples: Second Lien Credit Agreement (Great Lakes Dredge & Dock CORP)
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers the Company shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 and integral multiples of $500,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers the Company shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 and integral multiples of $500,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (American Achievement Corp)
Conversion/Continuation. (a) Subject to Section 2.18 2.15 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 2.15 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Subject to Section 3.2(c), Borrower shall deliver a Conversion/Conversion/ Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Borrower shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Borrower shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Subject to Section 2.24, Borrower shall deliver a Conversion/Conversion/ Continuation Notice to Administrative Agent no later than 10:00 a.m. 12:00 p.m. (New York City time) at least one Business Day in advance of the proposed conversion date (in the case of a conversion to a Base Rate Loan) and at least three Business Days in advance of the proposed conversion/continuation date (in the case of a conversion to, or a continuation of, a Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related 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 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.
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Conversion/Continuation. (a) Subject to Section 2.18 and so long as no Default or Event of Default shall have occurred and then be continuing, Borrowers Company shall have the option:
(i) to convert at any time all or any part of any Term Loan or Revolving Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 100,000 in excess of that amount from one Type of Loan to another Type of Loan; provided, a Eurodollar Rate Loan may only be converted on the expiration of the Interest Period applicable to such Eurodollar Rate Loan unless Borrowers Company shall pay all amounts due under Section 2.18 in connection with any such conversion; or
(ii) upon the expiration of any Interest Period applicable to any Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $1,000,000 5,000,000 and integral multiples of $500,000 100,000 in excess of that amount as a Eurodollar Rate Loan.
(b) The relevant Borrower Company shall deliver a Conversion/Continuation Notice to Administrative Agent no later than 10:00 a.m. (New York City time) at least one (1) Business 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 Eurodollar Rate Loan). Except as otherwise provided herein, a Conversion/Continuation Notice for conversion to, or continuation of, any Eurodollar Rate Loans (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the related Borrower Company shall be bound to effect a conversion or continuation in accordance therewith.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (Mariner Health Care Inc)
