Common use of Conversion of Borrowings Clause in Contracts

Conversion of Borrowings. (a) The Borrower shall have the right at any time upon prior irrevocable telephonic notice to the Administrative Agent (i) not later than 12:00 (noon), New York City time, three Business Days prior to conversion, to convert any Borrowing into another Type of Borrowing, followed by prompt written notice, subject in each case to the following: (i) each conversion shall be made pro rata among the Lenders in accordance with the respective principal amounts of the Loans comprising the converted or continued Borrowing; (ii) if less than all the outstanding principal amount of any Borrowing shall be converted, then each resulting Borrowing shall be in an aggregate principal amount that is an integral multiple of $1,000,000 and not less than $5,000,000; provided, however, that the Borrower shall not be entitled to request any Borrowing that, if made, would result in more than three Borrowings outstanding hereunder at any time. For purposes of the foregoing, Borrowings having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Borrowings; (iii) each conversion shall be effected by each Lender and the Administrative Agent by recording for the account of such Lender the new Loan of such Lender resulting from such conversion and reducing the Loan (or portion thereof) of such Lender being converted by an equivalent principal amount; accrued interest on any Loan (or portion thereof) being converted shall be paid by the Borrower at the time of conversion; (iv) if any Borrowing is converted at a time other than the end of the Interest Period applicable thereto, the Borrower shall pay, upon demand, any amounts due to the Lenders pursuant to Section 2.15; and (v) upon notice to the Borrower from the Administrative Agent given at the request of the Required Lenders, after the occurrence and during the continuance of a Default or Event of Default, no outstanding Loan may be converted. (b) Each notice pursuant to this Section shall be irrevocable and shall refer to this Agreement and specify (i) the identity and amount of the Borrowing that the Borrower requests be converted, (ii) the Type of Borrowing to which such Borrowing is to be converted, and (iii) the date of such conversion (which shall be a Business Day). The Administrative Agent shall advise the Lenders of any notice given pursuant to this

Conversion of Borrowings. (a) The Borrower Each Borrowing initially shall be of the type specified in the applicable Notice of Borrowing and, in the case of a LIBOR Loan, shall have an initial Interest Period as specified in such Notice of Borrowing. Thereafter, the right at any time upon prior irrevocable telephonic notice to the Administrative Agent (i) not later than 12:00 (noon), New York City time, three Business Days prior to conversion, applicable Borrower may elect to convert any such Borrowing into another Type to a different type or to continue such Borrowing and, in the case of a LIBOR Loan, may elect Interest Periods therefor, all as provided in this Paragraph 2.03. The applicable Borrower may elect different options with respect to different portions of the affected Borrowing, followed by prompt written notice, subject in which case each case to the following: (i) each conversion such portion shall be made pro rata allocated ratably among the Lenders in accordance with the respective principal amounts of holding the Loans comprising such Borrowing, and the converted or continued Borrowing; (ii) if less than all the outstanding principal amount of any Borrowing shall be converted, then Loans comprising each resulting Borrowing shall be in an aggregate principal amount that is an integral multiple of $1,000,000 and not less than $5,000,000; provided, however, that the Borrower shall not be entitled to request any Borrowing that, if made, would result in more than three Borrowings outstanding hereunder at any time. For purposes of the foregoing, Borrowings having different Interest Periods, regardless of whether they commence on the same date, such portion shall be considered a separate Borrowings; Borrowing. Notwithstanding any contrary provision of this Agreement, (iiiA) in no event shall any Borrower be permitted to convert a Loan in one Currency into a Loan of a different Currency (as opposed to repaying such Loan and thereafter obtaining a new Loan) and (B) if an Event of Default has occurred and is continuing and Agent, at the written request of the Required Lenders, so notifies Borrowers, then (1) no outstanding Borrowing may be converted to or continued as a Borrowing consisting of LIBOR Loans in Dollars, (2) unless repaid, each conversion Borrowing consisting of LIBOR Loans in Dollars shall be effected by each Lender and the Administrative Agent by recording for the account converted to a Borrowing consisting of such Lender the new Loan of such Lender resulting from such conversion and reducing the Loan (or portion thereof) of such Lender being converted by an equivalent principal amount; accrued interest on any Loan (or portion thereof) being converted shall be paid by the Borrower Base Rate Loans in Dollars at the time of conversion; (iv) if any Borrowing is converted at a time other than the end of the Interest Period applicable theretothereto and (3) unless repaid, the Borrower shall pay, upon demand, any amounts due to the Lenders pursuant to Section 2.15; and (v) upon notice to the Borrower from the Administrative Agent given at the request each Borrowing consisting of the Required Lenders, after the occurrence and during the continuance of a Default or Event of Default, no outstanding Loan may be converted. (b) Each notice pursuant to this Section LIBOR Loans in an Alternative Currency shall be irrevocable and shall refer to this Agreement and specify (i) the identity and amount continued as a Borrowing consisting of the Borrowing that the Borrower requests be converted, (ii) the Type LIBOR Loans in an Alternative Currency with an Interest Period of Borrowing to which such Borrowing is to be converted, and (iii) the date of such conversion (which shall be a Business Day). The Administrative Agent shall advise the Lenders of any notice given pursuant to thisone month’s duration.

Conversion of Borrowings. (a) The Unless an Event of Default shall have occurred and be continuing and subject to the terms and conditions of this Agreement, the Borrower shall have the right at any time or from time to time prior to the Maturity Date to convert Base Borrowings to LIBOR Borrowings and LIBOR Borrowings to Base Borrowings in the same aggregate principal amount, or to select a new Interest Period for an outstanding LIBOR Borrowing, provided that: (i) the Borrower shall give the Lender notice of each such conversion or renewal as provided below; (ii) LIBOR Borrowings may be converted or renewed (upon prior irrevocable telephonic at least five (5) Business Days' notice to the Administrative Agent Lender pursuant to a Notice of Conversion or Renewal of Interest) only on the last day of an Interest Period for such Borrowings; (iiii) not later than 12:00 Base Borrowings may be converted at any time upon two (noon), New York City time, three 2) Business Days prior to conversion, to convert any Borrowing into another Type of Borrowing, followed by prompt written notice, subject in each case Days' notice to the following: (i) each conversion shall be made pro rata among the Lenders Lender pursuant to a Notice of Conversion or Renewal of Interest in accordance with the respective principal amounts of the Loans comprising the converted or continued Borrowing; (ii) if less than all the outstanding a minimum aggregate principal amount of any Borrowing one million dollars ($1,000,000). Each Notice of Conversion or Renewal of Interest shall specify the Borrowings to be convertedconverted or renewed, then each resulting Borrowing shall be in an aggregate principal amount that is an integral multiple of $1,000,000 and not less than $5,000,000; provided, however, that the Borrower shall not be entitled to request any Borrowing that, if made, would result in more than three whether such Borrowings outstanding hereunder at any time. For purposes of the foregoing, Borrowings having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Borrowings; (iii) each conversion shall be effected by each Lender and the Administrative Agent by recording for the account of such Lender the new Loan of such Lender resulting from such conversion and reducing the Loan (or portion thereof) of such Lender are being converted by an equivalent principal amount; accrued interest on any Loan (or portion thereof) being converted shall be paid by renewed, the Borrower at the time of conversion; (iv) if any Borrowing is converted at a time other than the end duration of the Interest Period applicable thereto, the Borrower shall pay, upon demand, any amounts due to the Lenders pursuant to Section 2.15; and (v) upon notice to the Borrower from the Administrative Agent given at the request of the Required Lenders, after the occurrence selected and during the continuance of a Default or Event of Default, no outstanding Loan may be converted. (b) Each notice pursuant to this Section shall be irrevocable and shall refer to this Agreement and specify (i) the identity and amount of the Borrowing that the Borrower requests be converted, (ii) the Type of Borrowing to which such Borrowing is to be converted, and (iii) the date of such conversion or renewal (which shall be a Business Day). The Administrative Agent shall advise In the Lenders event that the Borrower fails to renew any Interest Period for any LIBOR Borrowing before the expiration of any notice given pursuant to thissuch Interest Period, such Borrowing will be automatically converted into a Base Borrowing on the last day of the then current Interest Period for such Borrowing.

Conversion of Borrowings. (a) The Interest Rate Conversion or Renewal. Unless an Event of Default shall ----------------------------------- have occurred and be continuing and subject to the terms and conditions of this Agreement, the Borrower shall have the right at any time or from time to time prior to the Maturity Date to convert Base Borrowings to LIBOR Borrowings and LIBOR Borrowings to Base Borrowings in the same aggregate principal amount, or to select a new Interest Period for an outstanding LIBOR Borrowing or Borrowing of Gold, provided that: (i) the Borrower shall give the Agent notice of each -------- such conversion or renewal as provided below; (ii) LIBOR Borrowings may be converted or renewed (upon prior irrevocable telephonic at least five Business Days' notice to the Administrative Agent pursuant to a Notice of Conversion or Renewal of Interest) only on the last day of an Interest Period for such Borrowings; (iiii) not later than 12:00 Borrowings of Gold may be renewed (noon), New York City time, on at least three Business Days prior Days' notice pursuant to conversion, to convert any Borrowing into another Type a Notice of Borrowing, followed by prompt written notice, subject in each case Conversion or Renewal of Interest from the Borrower to the following: Agent, which shall give at least two Business Days' notice thereof to each Bank) only on the last day of an Interest Period for such Borrowings; and (iiv) each conversion shall Base Borrowings may be made pro rata among converted at any time upon two Business Days' notice to the Lenders Agent pursuant to a Notice of Conversion or Renewal of Interest in accordance with the respective principal amounts of the Loans comprising the converted or continued Borrowing; (ii) if less than all the outstanding a minimum aggregate principal amount of any $2,000,000. The renewal of an Interest Period for an outstanding Borrowing shall be converted, then each resulting Borrowing shall be in an aggregate principal amount that is an integral multiple of $1,000,000 and not less than $5,000,000; provided, however, that the Borrower Gold shall not affect the Advance Date Value for such Borrowing of Gold. Each Notice of Conversion or Renewal of Interest shall specify the Borrowings to be entitled to request any Borrowing thatconverted or renewed, if made, would result in more than three whether such Borrowings outstanding hereunder at any time. For purposes of the foregoing, Borrowings having different Interest Periods, regardless of whether they commence on the same date, shall be considered separate Borrowings; (iii) each conversion shall be effected by each Lender and the Administrative Agent by recording for the account of such Lender the new Loan of such Lender resulting from such conversion and reducing the Loan (or portion thereof) of such Lender are being converted by an equivalent principal amount; accrued interest on any Loan (or portion thereof) being converted shall be paid by renewed, the Borrower at the time of conversion; (iv) if any Borrowing is converted at a time other than the end duration of the Interest Period applicable thereto, the Borrower shall pay, upon demand, any amounts due to the Lenders pursuant to Section 2.15; and (v) upon notice to the Borrower from the Administrative Agent given at the request of the Required Lenders, after the occurrence selected and during the continuance of a Default or Event of Default, no outstanding Loan may be converted. (b) Each notice pursuant to this Section shall be irrevocable and shall refer to this Agreement and specify (i) the identity and amount of the Borrowing that the Borrower requests be converted, (ii) the Type of Borrowing to which such Borrowing is to be converted, and (iii) the date of such conversion or renewal (which shall be a Business Day or, in the case of a renewal of an Interest Period for a Borrowing of Gold, a Business Day that is followed by a Business Day). The Administrative Agent shall advise In the Lenders event that the Borrower fails to renew any Interest Period for any LIBOR Borrowing or any Gold Borrowing before the expiration of any notice given pursuant to thissuch Interest Period, such Borrowings (if LIBOR Borrowings) will be automatically converted into Base Borrowings on the last day of the then current Interest Period for such Borrowings or (if Gold Borrowings) will be automatically renewed for an Interest Period of one month.