Common use of Conversion of Advances Clause in Contracts

Conversion of Advances. (a) The Borrower may on any Business Day, upon prior written notice in the form of Exhibit C (a "Notice of Conversion/Continuation") signed by an Authorized Officer and given to the Agent (a) with respect to any Conversion to Reference Rate Advances, not later than 11:00 a.m., Los Angeles time, on the Business Day immediately preceding the date of the proposed Conversion and (b) with respect to any Conversion to LIBOR Advances, not later than 11:00 a.m., Los Angeles time, on the third Business Day before the date of the proposed Conversion, subject to the provisions of Sections 3.2 and 3.3, Convert all the Advances of one Type making up the same Borrowing into Advances of another Type; provided, however, that any Conversion of LIBOR Advances into Reference Rate Advances shall be made on, and only on, the last day of an Interest Period for such LIBOR Advances. Each notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted and (iii) if such Conversion is into LIBOR Advances, the duration of the initial Interest Period for such Advances. Each Notice of Conversion shall be irrevocable and binding on the Borrower.

Appears in 2 contracts

Samples: Revolving Credit Agreement (THQ Inc), Revolving Credit Agreement (THQ Inc)

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Conversion of Advances. (a) The Borrower may on any Business Day, upon prior written notice in the form of Exhibit C F (a "Notice of Conversion/Continuation") signed by an Authorized Officer and given to the Administrative Agent (ai) with respect to any Conversion from Base Rate Advances to Reference Rate Advances or from Reference Rate Advances to Base Rate Advances, not later than 11:00 9:30 a.m., Los Angeles time, on the Business Day immediately preceding the date of the proposed Conversion and (bii) with respect to any Conversion from or to LIBOR Advances, not later than 11:00 9:30 a.m., Los Angeles time, on the third Business Day before the date of the proposed Conversion, subject to the provisions of Sections 2.4(b), 3.2 and 3.3, Convert all the Advances of one Type making up the same Borrowing into Advances of another Type; provided, however, that any Conversion of LIBOR Advances into Reference or Base Rate Advances into Advances of another Type shall be made on, and only on, the last day of an Interest Period for such LIBOR Advances or Base Rate Advances. Each notice Notice of a Conversion shall, within the restrictions specified above, specify (iA) the date of such Conversion, (iiB) the Advances to be Converted and (iiiC) if such Conversion is into LIBOR Advances or Base Rate Advances, the duration of the initial Interest Period for such Advances. Each Notice of Conversion shall be irrevocable and binding on the Borrower. The Administrative Agent shall give each Lender prompt notice by telecopier of each Notice of Conversion.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Frontier Oil Corp /New/), Revolving Credit Agreement (Frontier Oil Corp /New/)

Conversion of Advances. (a) The Borrower may on any Business Day, upon prior written notice in the form of Exhibit C K (a "Notice of Conversion/Continuation") signed by an Authorized Officer and given to the Agent (a) with respect to any Conversion to Reference Rate Advances or Base Rate Advances, not later than 11:00 a.m., Los Angeles time, on the Business Day immediately preceding the date of the proposed Conversion and (b) with respect to any Conversion to LIBOR Advances, not later than 11:00 a.m., Los Angeles time, on the third Business Day before the date of the proposed Conversion, subject to the provisions of Sections 3.2 and 3.3, Convert all the Advances of one Type making up the same Borrowing into Advances of another Type; provided, however, that any Conversion of LIBOR Advances into Reference or Base Rate Advances into Advances of another Type shall be made on, and only on, the last day of an Interest Period for such LIBOR Advances or Base Rate Advances. Each notice Notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted and (iii) if such Conversion is into LIBOR Advances or Base Rate Advances, the duration of the initial Interest Period for such Advances. Each Notice of Conversion shall be irrevocable and binding on the Borrower. The Agent shall give each Lender prompt notice by telecopier of each Notice of Conversion.

Appears in 1 contract

Samples: Revolving Credit Agreement (Frontier Oil Corp /New/)

Conversion of Advances. (a) The Borrower may on any Business Day, upon prior written notice in the form of Exhibit C E (a "Notice of Conversion/Continuation") signed by an Authorized Officer and given to the Administrative Agent (ai) with respect to any Conversion from Base Rate Advances to Reference Rate Advances or from Reference Rate Advances to Base Rate Advances, not later than 11:00 9:30 a.m., Los Angeles time, on the Business Day immediately preceding the date of the proposed Conversion and (bii) with respect to any Conversion from or to LIBOR Advances, not later than 11:00 9:30 a.m., Los Angeles time, on the third Business Day before the date of the proposed Conversion, subject to the provisions of Sections 2.4(b), 3.2 and 3.3, Convert all the Advances of one Type making up the same Borrowing into Advances of another Type; provided, however, that any Conversion of LIBOR Advances into Reference or Base Rate Advances into Advances of another Type shall be made on, and only on, the last day of an Interest Period for such LIBOR Advances or Base Rate Advances. Each notice Notice of a Conversion shall, within the restrictions specified above, specify (iA) the date of such Conversion, (iiB) the Advances to be Converted and (iiiC) if such Conversion is into LIBOR Advances or Base Rate Advances, the duration of the initial Interest Period for such Advances. Each Notice of Conversion shall be irrevocable and binding on the Borrower. The Administrative Agent shall give each Lender prompt notice by telecopier of each Notice of Conversion.

Appears in 1 contract

Samples: Revolving Credit Agreement (Frontier Oil Corp /New/)

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Conversion of Advances. (a) The Borrower may on any Business Day, upon prior written notice in the form of Exhibit C F (a "Notice of Conversion/Continuation") signed by an Authorized Officer and given to the Administrative Agent (a) with respect to any Conversion from Base Rate Advances to Reference Rate Advances or from Reference Rate Advances to Base Rate Advances, not later than 11:00 9:30 a.m., Los Angeles time, on the Business Day immediately preceding the date of the proposed Conversion and (b) with respect to any Conversion from or to LIBOR Advances, not later than 11:00 9:30 a.m., Los Angeles time, on the third Business Day before the date of the proposed Conversion, subject to the provisions of Sections 2.4(b), 3.2 and 3.3, Convert all the Advances of one Type making up the same Borrowing into Advances of another Type; provided, however, that any Conversion of LIBOR Advances into Reference or Base Rate Advances into Advances of another Type shall be made on, and only on, the last day of an Interest Period for such LIBOR Advances or Base Rate Advances. Each notice Notice of a Conversion shall, within the restrictions specified above, specify (i) the date of such Conversion, (ii) the Advances to be Converted and (iii) if such Conversion is into LIBOR Advances or Base Rate Advances, the duration of the initial Interest Period for such Advances. Each Notice of Conversion shall be irrevocable and binding on the Borrower. The Administrative Agent shall give each Lender prompt notice by telecopier of each Notice of Conversion.

Appears in 1 contract

Samples: Revolving Credit Agreement (Frontier Oil Corp /New/)

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