Common use of Conversion of Loans Clause in Contracts

Conversion of Loans. Borrower may convert any Revolving Loan from one Type of Revolving Loan to another Type; provided, however, that (i) any conversion of LIBOR Loans into Base Rate Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR Loans, and (ii) Loans shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereof. Borrower shall request such a conversion by a written notice to Administrative Agent in the form of Exhibit E-2, appropriately completed (a “Notice of Conversion of Loan Type”), which specifies: (a) the Revolving Loans, or portion thereof, which are to be converted; (b) the Type into which such Revolving Loans, or portion thereof, are to be converted; (c) if such Revolving Loans are to be converted into LIBOR Loans, the initial Interest Period selected by Borrower for such Loans in accordance with Section 2.1.2.4(b); and (d) the date of the requested conversion, which shall be a Banking Day. Borrower shall give each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least the applicable Minimum Notice Period. Any Notice of Conversion of Loan Type may be modified or revoked by Borrower through the Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocable. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy to Administrative Agent at the office or to the telecopy number and as otherwise specified in Section 8.1; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopy. Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan Type.

Appears in 5 contracts

Samples: Credit Agreement (Tampa Electric Co), Credit Agreement (Tampa Electric Co), Credit Agreement (Tampa Electric Co)

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Conversion of Loans. Subject to Section 2.13, the Borrower may convert any all or part of the Loans comprising a Revolving Loan Borrowing or a Term Loan Borrowing from one Type of Revolving Loan to another the other Type; provided, however, that (i) no Base Rate Loan may be converted into a LIBOR Loan after the occurrence and during the continuance of an Event of Default, and provided, further, that any conversion of a LIBOR Loans into Base Rate Loans shall be made on, and only on, the first Loan on any day after other than the last day of an the Interest Period for such LIBOR Loans, and (ii) Loans therefor shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereofsubject to the payments required under Section 2.13. The Borrower shall request such a conversion by a delivering an irrevocable written notice to the Administrative Agent in the form of Exhibit E-2B, duly executed by an Officer of the Borrower and appropriately completed (a “Notice of Conversion of Loan TypeConversion”), which specifiesspecifying, among other things: (ai) the Revolving Loans, or portion thereof, The Borrowing which are is to be converted; (bii) the The Type of Borrowing into which such Revolving Loans, or portion thereof, are Borrowing is to be converted; (ciii) if If such Revolving Loans are Borrowing is to be converted into a Borrowing consisting of LIBOR Loans, the initial Interest Period selected by the Borrower for such LIBOR Loans in accordance with Section 2.1.2.4(b2.01(h); and (div) the The date of the requested conversion, which shall be a Banking Business Day. The Borrower shall give each Notice of Conversion of Loan Type to the Administrative Agent so as to provide not later than 11:00 a.m. at least three Business Days before the applicable Minimum Notice Period. Any Notice date of Conversion of Loan Type may be modified or revoked by Borrower through the Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocablerequested conversion. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy facsimile or e-mail transmission to the Administrative Agent at the office or to facsimile number, e-mail address, and/or address specified on Schedule IV and during the telecopy number and as otherwise hours specified in Section 8.18.01; provided, however, that the Borrower shall shall, if requested by the Administrative Agent, promptly deliver to the Administrative Agent by first-class mail the original of any Notice of Conversion of Loan Type initially delivered by telecopyfacsimile or e-mail transmission. The Administrative Agent shall promptly notify each Appropriate Lender of the contents of each Notice of Conversion of Loan TypeConversion.

Appears in 5 contracts

Samples: Credit Agreement (Chiquita Brands International Inc), Credit Agreement (Chiquita Brands International Inc), Credit Agreement (Chiquita Brands International Inc)

Conversion of Loans. Borrower may convert any Revolving Loan from one Type of Revolving Loan to another Type; provided, however, that (i) any conversion of LIBOR Loans into Base Rate Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR Loans, and (ii) Loans shall be converted only in amounts of $5,000,000 10,000,000 and increments of $1,000,000 in excess thereof. Borrower shall request such a conversion by a written notice to Administrative Agent in the form of Exhibit E-2C-2, appropriately completed (a “Notice of Conversion of Loan Type”), which specifies: (a) the Revolving The Loans, or portion thereof, which are to be converted; (b) the The Type into which such Revolving Loans, or portion thereof, are to be converted; (c) if If such Revolving Loans are to be converted into LIBOR Loans, the initial Interest Period selected by Borrower for such Loans in accordance with Section 2.1.2.4(b); and (d) the The date of the requested conversion, which shall be a Banking Day. Borrower shall give each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least the applicable Minimum Notice Period. Any Notice of Conversion of Loan Type may be modified or revoked by Borrower through the Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocable. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy to Administrative Agent at the office or to the telecopy number and as otherwise specified in Section 8.1; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopy. Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan Type.

Appears in 5 contracts

Samples: 364 Day Revolving Facility Credit Agreement (Tampa Electric Co), 364 Day Revolving Facility Credit Agreement (Teco Energy Inc), Credit Agreement (Tampa Electric Co)

Conversion of Loans. Borrower may convert any Revolving Loan from one Type of Revolving Loan to another Type; provided, however, that (i) any conversion of LIBOR SOFR Loans into Base Rate Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR SOFR Loans, and (ii) Loans shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereof. Borrower shall request such a conversion by a written notice to Administrative Agent in the form of Exhibit E-2, appropriately completed (a “Notice of Conversion of Loan Type”), which specifies: (a) the Revolving Loans, or portion thereof, which are to be converted; (b) the Type into which such Revolving Loans, or portion thereof, are to be converted; (c) if such Revolving Loans are to be converted into LIBOR SOFR Loans, the initial Interest Period selected by Borrower for such Loans in accordance with Section 2.1.2.4(b); and (d) the date of the requested conversion, which shall be a Banking Day. Borrower shall give each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least the applicable Minimum Notice Period. Any Notice of Conversion of Loan Type may be modified or revoked by Borrower through the Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocable. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy to Administrative Agent at the office or to the telecopy number and as otherwise specified in Section 8.1; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopy. Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan Type.

Appears in 3 contracts

Samples: Credit Agreement (Tampa Electric Co), Credit Agreement (Tampa Electric Co), Credit Agreement (Tampa Electric Co)

Conversion of Loans. Borrower may convert any Revolving Loan from one Type of Revolving Loan to another Type; provided, however, that (i) any conversion of LIBOR Loans into Base Rate Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR Loans, and (ii) Loans shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereof. Borrower shall request such a conversion by a written notice to Administrative Agent in the form of Exhibit E-2, appropriately completed (a “Notice of Conversion of Loan Type”), which specifies: (a) the Revolving Loans, or portion thereof, which are to be converted; (b) the Type into which such Revolving Loans, or portion thereof, are to be converted; (c) if such Revolving Loans are to be converted into LIBOR Loans, the initial Interest Period selected by Borrower for such Loans in accordance with Section 2.1.2.4(b); and (d) the date of the requested conversion, which shall be a Banking Day. Borrower shall give each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least the applicable Minimum Notice Period. Any Notice of Conversion of Loan Type may be modified or revoked by Borrower through the Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocable. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy to Administrative Agent at the office or to the telecopy number and as otherwise specified in Section 8.1; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopy. Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan Type.

Appears in 3 contracts

Samples: Credit Agreement (Tampa Electric Co), Credit Agreement (Tampa Electric Co), Credit Agreement (Tampa Electric Co)

Conversion of Loans. Borrower may convert any Revolving Loan Borrowing from one Type of Revolving Loan Borrowing to another the other Type; provided, however, that (i) any conversion of a Borrowing consisting of LIBOR Loans into a Borrowing consisting of Base Rate Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR Loans, and (ii) Loans shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereof. Borrower shall request such a conversion by a an irrevocable written notice to Administrative Agent in the form of Exhibit E-2B, appropriately completed (a "Notice of Conversion of Loan Type”Conversion"), which specifies, among other things: (ai) the Revolving Loans, or portion thereof, The Borrowing which is to be converted; (ii) The Type of Loans into which such Loans are to be converted; (biii) the Type into which If such Revolving Loans, or portion thereof, are to be converted; (c) if such Revolving Loans are Borrowing is to be converted into a Borrowing consisting of LIBOR Loans, the initial Interest Period selected by Borrower for such Loans in accordance with Section 2.1.2.4(bSubparagraph 2.01(e); and (div) the The date of the requested conversion, which shall be a Banking Business Day. Borrower shall give each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least three (3) Business Days before the applicable Minimum Notice Period. Any Notice date of Conversion the requested conversion in the case of a conversion into a Loan Type may be modified or revoked by Borrower through consisting of LIBOR Loans and at least one (1) Business Day before the Banking Day prior to date of the Minimum Notice Period, and shall thereafter be irrevocablerequested conversion in the case of a conversion into a Loan consisting of Base Rate Loans. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy facsimile to Administrative Agent at the office or to the telecopy facsimile number and as otherwise during the hours specified in Section 8.1Paragraph 8.01; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopyfacsimile. Administrative Agent shall promptly notify each Lender Bank of the contents of each Notice of Conversion of Loan TypeConversion.

Appears in 3 contracts

Samples: Credit Agreement (Indus International Inc), Credit Agreement (Indus International Inc), Credit Agreement (Indus International Inc)

Conversion of Loans. Borrower may convert any Revolving Loan from one Type of Revolving Loan to another Type; provided, however, that (i) any conversion of LIBOR Loans into Base ABR Loans or Federal Funds Rate Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR Loans, and (ii) Loans shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereof. Borrower shall request such a conversion by a written notice to Administrative Agent in the form of Exhibit E-2C-2, appropriately completed (a “Notice of Conversion of Loan Type”), which specifies: (a) the Revolving Loans, or portion thereof, which are to be converted; (b) the Type into which such Revolving Loans, or portion thereof, are to be converted; (c) if such Revolving Loans are to be converted into LIBOR Loans, the initial Interest Period selected by Borrower for such Loans in accordance with Section 2.1.2.4(b); and (d) the date of the requested conversion, which shall be a Banking Day. Borrower shall give each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least the applicable Minimum Notice Period. Any Notice of Conversion of Loan Type may be modified or revoked by Borrower through the Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocable. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy to Administrative Agent at the office or to the telecopy number and as otherwise specified in Section 8.1; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopy. Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan Type.

Appears in 2 contracts

Samples: Credit Agreement (Tampa Electric Co), Credit Agreement (Tampa Electric Co)

Conversion of Loans. Borrower may convert any Revolving Loan Loans from one Type of Revolving Loan to another TypeType of Loan; provided, however, provided that (ia) any conversion of LIBOR Loans into Base Rate Loans shall be made effective on, and only on, the first day Banking Day after the last day expiration of an Interest Period for such LIBOR LoansLoans or shall be subject to amounts payable pursuant to Section 2.7, and (iib) Loans shall be converted only in amounts of $5,000,000 250,000 and increments of $1,000,000 100,000 in excess thereofthereof and (c) no Base Rate Loan of a Lender may be converted into a LIBOR Loan (i) at the election of the such Lender when any Event of Default has occurred and is continuing or (ii) after the date that is three (3) months prior to the Final Maturity Date. Borrower shall request such a conversion by a written notice delivering to Administrative Agent in the form of Exhibit E-2, appropriately completed (a Notice of Conversion of Loan Type”), which contains or specifies, among other things: (ai) the Revolving Loans, or portion thereof, which are to be converted; (bii) the Type of Loans into which such Revolving Loans, or portion thereof, are to be converted;; and (ciii) the proposed date of the requested conversion (which shall be a Banking Day and otherwise in accordance with this Section 2.1.5); and (iv) if such Revolving a Lender has elected not to convert a Base Rate Loan to a LIBOR Loan during an Event of Default and if Base Rate Loans are to be converted into to LIBOR Loans, the initial Interest Period selected a certification by Borrower for such Loans in accordance with Section 2.1.2.4(b); and (d) the date that no Event of the requested conversion, which shall be a Banking DayDefault has occurred and is continuing. Borrower shall give so deliver each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least the applicable Minimum Notice Period. Any The Notice of Conversion of Loan Type may be modified or revoked by Borrower through until the final Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocable. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy to Administrative Agent at in the office or to the telecopy number and as otherwise specified manner provided in Section 8.1; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopy11.1. Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan Type.

Appears in 2 contracts

Samples: Credit Agreement (CNX Resources Corp), Credit Agreement (CNX Resources Corp)

Conversion of Loans. Borrower may convert any Revolving Loan Borrowing from one Type of Revolving Loan Borrowing to another Type; provided, however, that (i) any conversion of a Borrowing consisting of LIBOR Loans into a Borrowing consisting of Base Rate Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR Loans, and (ii) Loans shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereof. Borrower shall request such a conversion by a an irrevocable written notice to Administrative Agent in the form of Exhibit E-2B, appropriately completed (a "Notice of Conversion of Loan Type”Conversion"), which specifies, among other things: (ai) the Revolving Loans, or portion thereof, The Borrowing which are is to be converted; (bii) the The Type of Borrowing into which such Revolving Loans, or portion thereof, are Borrowing is to be converted; (ciii) if If such Revolving Loans are Borrowing is to be converted into a Borrowing consisting of LIBOR Loans, the initial Interest Period selected by Borrower for such Loans in accordance with Section 2.1.2.4(bSubparagraph 2.01(e); and (div) the The date of the requested conversion, which shall be a Banking Business Day. Borrower shall give each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least three (3) Business Days before the applicable Minimum Notice Period. Any Notice date of Conversion the requested conversion in the case of Loan Type may be modified or revoked by Borrower through a conversion into a Borrowing consisting of LIBOR Loans and at least one (1) Business Day before the Banking Day prior to date of the Minimum Notice Period, and shall thereafter be irrevocablerequested conversion in the case of a conversion into a Borrowing consisting of Base Rate Loans. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy facsimile to Administrative Agent at the office or to the telecopy facsimile number and as otherwise during the hours specified in Section 8.1Paragraph 8.01; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopyfacsimile. Administrative Agent shall promptly (but in any event no later than 5:00 p.m., San Francisco time, on the Business Day Agent receives such notice under Paragraph 8.01) notify each Lender of the contents of each Notice of Conversion of Loan TypeConversion.

Appears in 2 contracts

Samples: Annual Report, Credit Agreement (Lam Research Corp)

Conversion of Loans. Borrower may convert any Revolving Loan from one Type of Revolving Loan to another Type; provided, however, that (i) any conversion of LIBOR Loans into Base Rate Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR Loans, and (ii) Loans shall be converted only in amounts of $5,000,000 10,000,000 and increments of $1,000,000 in excess thereof. Borrower shall request such a conversion by a written notice to Administrative Agent in the form of Exhibit E-2C-2, appropriately completed (a “Notice of Conversion of Loan Type”), which specifies: (a) the Revolving Loans, or portion thereof, which are to be converted; (b) the Type into which such Revolving Loans, or portion thereof, are to be converted; (c) if such Revolving Loans are to be converted into LIBOR Loans, the initial Interest Period selected by Borrower for such Loans in accordance with Section 2.1.2.4(b2.1.3.4(b); and (d) the date of the requested conversion, which shall be a Banking Day. Borrower shall give each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least the applicable Minimum Notice Period. Any Notice of Conversion of Loan Type may be modified or revoked by Borrower through the Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocable. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy to Administrative Agent at the office or to the telecopy number and as otherwise specified in Section 8.1; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopy. Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan Type.

Appears in 2 contracts

Samples: Credit Agreement (Tampa Electric Co), Credit Agreement (Teco Energy Inc)

Conversion of Loans. Borrower may convert any Revolving Loan Borrowing from one Type of Revolving Loan Borrowing to another the other Type; providedPROVIDED, howeverHOWEVER, that (i) any conversion of a Borrowing consisting of LIBOR Loans into a Borrowing consisting of Base Rate Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR Loans, and (ii) Loans shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereof. Borrower shall request such a conversion by a an irrevocable written notice to Administrative Agent in the form of Exhibit E-2EXHIBIT B, appropriately completed (a “Notice of Conversion of Loan Type”"NOTICE OF CONVERSION"), which specifies, among other things: (ai) the Revolving Loans, or portion thereof, The Borrowing which are is to be converted; (bii) the The Type of Borrowing into which such Revolving Loans, or portion thereof, are Borrowing is to be converted; (ciii) if If such Revolving Loans are Borrowing is to be converted into a Borrowing consisting of LIBOR Loans, the initial Interest Period selected by Borrower for such Loans in accordance with Section 2.1.2.4(bSUBPARAGRAPH 2.01(e); and (div) the The date of the requested conversion, which shall be a Banking Business Day. Borrower shall give each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least three (3) Business Days before the applicable Minimum Notice Period. Any Notice date of Conversion the requested conversion in the case of Loan Type may be modified a conversion into a Borrowing consisting of LIBOR Loans with Interest Periods of one month or revoked by Borrower through more and on or before the Banking Day prior to date of the Minimum Notice Period, and shall thereafter be irrevocablerequested conversion in the case of a conversion into any other Borrowing. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy facsimile to Administrative Agent at the office or to the telecopy facsimile number and as otherwise during the hours specified in Section 8.1PARAGRAPH 8.01; providedPROVIDED, howeverHOWEVER, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopyfacsimile. Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan TypeConversion.

Appears in 2 contracts

Samples: Credit Agreement (Adac Laboratories), Credit Agreement (Adac Laboratories)

Conversion of Loans. Borrower may convert any Revolving Loan from one Type of Revolving Loan to another Type; provided, however, that (i) any conversion of LIBOR Loans into Base Rate ABR Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR Loans, and (ii) Loans shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereof. Borrower shall request such a conversion by a written notice to Administrative Agent in the form of Exhibit E-2D-2, appropriately completed (a “Notice of Conversion of Loan Type”), which specifies: (a) the Revolving Loans, or portion thereof, which are to be converted; (b) the Type into which such Revolving Loans, or portion thereof, are to be converted; (c) if such Revolving Loans are to be converted into LIBOR Loans, the initial Interest Period selected by Borrower for such Loans in accordance with Section 2.1.2.4(b); and (d) the date of the requested conversion, which shall be a Banking Day. Borrower shall give each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least the applicable Minimum Notice Period. Any Notice of Conversion of Loan Type may be modified or revoked by Borrower through the Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocable. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy to Administrative Agent at the office or to the telecopy number and as otherwise specified in Section 8.1; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopy. Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan Type.

Appears in 2 contracts

Samples: Credit Agreement (Tampa Electric Co), Credit Agreement (Teco Energy Inc)

Conversion of Loans. Borrower may convert any Revolving Loan from one Type of Revolving Loan to another Type; provided, however, that (i) any conversion of LIBOR Loans into Base Rate ABR Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR Loans, and (ii) Loans shall be converted only in amounts of $5,000,000 10,000,000 and increments of $1,000,000 in excess thereof. Borrower shall request such a conversion by a written notice to Administrative Agent in the form of Exhibit E-2C-2, appropriately completed (a “Notice of Conversion of Loan Type”), which specifies: (a) the Revolving Loans, or portion thereof, which are to be converted; (b) the Type into which such Revolving Loans, or portion thereof, are to be converted; (c) if such Revolving Loans are to be converted into LIBOR Loans, the initial Interest Period selected by Borrower for such Loans in accordance with Section 2.1.2.4(b); and (d) the date of the requested conversion, which shall be a Banking Day. Borrower shall give each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least the applicable Minimum Notice Period. Any Notice of Conversion of Loan Type may be modified or revoked by Borrower through the Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocable. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy to Administrative Agent at the office or to the telecopy number and as otherwise specified in Section 8.1; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopy. Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan Type.

Appears in 2 contracts

Samples: Loan Agreement (Teco Energy Inc), Credit Agreement (Teco Energy Inc)

Conversion of Loans. Borrower may convert any Revolving Loan from one Type of Revolving Loan to another Type; provided, however, that (i) any conversion of LIBOR Loans into Base Rate Loans or Federal Funds Rate Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR Loans, and (ii) Loans shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereof. Borrower shall request such a conversion by a written notice to Administrative Agent in the form of Exhibit E-2C-2, appropriately completed (a “Notice of Conversion of Loan Type”), which specifies: (a) the Revolving The Loans, or portion thereof, which are to be converted; (b) the The Type into which such Revolving Loans, or portion thereof, are to be converted; (c) if If such Revolving Loans are to be converted into LIBOR Loans, the initial Interest Period selected by Borrower for such Loans in accordance with Section 2.1.2.4(b); and (d) the The date of the requested conversion, which shall be a Banking Day. Borrower shall give each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least the applicable Minimum Notice Period. Any Notice of Conversion of Loan Type may be modified or revoked by Borrower through the Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocable. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy to Administrative Agent at the office or to the telecopy number and as otherwise specified in Section 8.1; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopy. Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan Type.

Appears in 2 contracts

Samples: Credit Agreement (Tampa Electric Co), Credit Agreement (Tampa Electric Co)

Conversion of Loans. Borrower Borrowers may convert all Loans in any Revolving Loan from one Type Borrowing consisting of Revolving Loan to another TypeBase Rate Loans into LIBOR Loans and all Loans in any Borrowing consisting of LIBOR Loans into Base Rate Loans; provided, however, that (i) any conversion of a LIBOR Loans Loan into a Base Rate Loans Loan shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR Loans, and (ii) Loans shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereofLoan. A Borrower shall request such a conversion by a an irrevocable written notice to Administrative Agent in the form of Exhibit E-2B, appropriately completed (a "Notice of Conversion of Loan Type”Conversion"), which specifies, among other things: (ai) the Revolving Loans, or portion thereof, The Borrowing which is to be converted; (ii) The Type of Loans into which such Loans are to be converted; (biii) the Type into which If such Revolving Loans, or portion thereof, are to be converted; (c) if such Revolving Loans are to be converted into LIBOR Loans, the initial Interest Period selected by such Borrower for such Loans in accordance with Section 2.1.2.4(bSubparagraph 2.01(e); and (div) the The date of the requested conversion, which shall be a Banking Business Day. Borrower Borrowers shall give each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least three (3) Business Days before the applicable Minimum Notice Period. Any Notice date of Conversion the requested conversion in the case of Loan Type may be modified or revoked by Borrower through a conversion into LIBOR Loans and at least one (1) Business Day before the Banking Day prior to date of the Minimum Notice Period, and shall thereafter be irrevocablerequested conversion in the case of a conversion into Base Rate Loans. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy to Administrative Agent at the office or to the telecopy number and as otherwise during the hours specified in Section 8.1Paragraph 9.01; provided, however, that Borrower Borrowers shall promptly deliver to Administrative Agent the original an originally executed copy of any Notice of Conversion of Loan Type initially delivered by telecopy. Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan Type.Agent

Appears in 1 contract

Samples: Credit Agreement (Silicon Valley Group Inc)

Conversion of Loans. Subject to Section 2.13, the Borrower may convert any Revolving Loan Borrowing or any Portion of a Term Loan Borrowing from one Type of Revolving Loan Borrowing or Portion of a Term Loan Borrowing, respectively, to another the other Type; provided, however, that any conversion of (i) any conversion a Revolving Loan Borrowing consisting of LIBOR Base Rate Loans into a Revolving Loan Borrowing consisting of Term SOFR Loans shall be in the amount of $1,000,000 or an integral multiple of $500,000 in excess thereof,(ii) a Revolving Loan Borrowing consisting of Term SOFR Loans into a Revolving Loan Borrowing consisting of Base Rate Loans shall be made onin the amount of $1,000,000 or an integral multiple of $100,000 in excess thereof, (iii) a Base Rate Portion of a Term Loan Borrowing into a Term SOFR Portion of a Term Loan Borrowing shall be in the amount of $1,000,000 or an integral multiple of $500,000 in excess thereof and only on(iv) a Term SOFR Portion of a Term Loan Borrowing into a Base Rate Portion of a Term Loan Borrowing shall be in the amount of $1,000,000 or an integral multiple of $100,000 in excess thereof; provided, further, that no Base Rate Loan or Base Rate Portion may be converted into a Term SOFR Loan or Term SOFR Portion, respectively, after the first occurrence and during the continuance of an Event of Default and provided, further, that any conversion of a Term SOFR Loan or Term SOFR Portion on any day after other than the last day of an the Interest Period for such LIBOR Loans, and (ii) Loans therefor shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereofsubject to the payments required under Section 2.13. The Borrower shall request such a conversion by a delivering to the Administrative Agent an irrevocable written notice to the Administrative Agent substantially in the form of Exhibit E-2, appropriately completed B (a “Notice of Conversion of Loan TypeConversion”), duly executed by a Responsible Officer of the Borrower and appropriately completed, which specifies, among other things: (ai) The Revolving Loan Borrowing or the Revolving Loans, or portion thereof, Portion of a Term Loan Borrowing which are is to be converted, as applicable; (bii) the The amount and Type of Revolving Loan Borrowing into which such Revolving Loans, Loan Borrowing is to be converted or portion thereof, are the amount and Type of each Portion of a Term Loan Borrowing into which it is to be converted, as applicable; (ciii) if If such Revolving Loans are Loan Borrowing is to be converted into LIBOR Loansa Revolving Loan Borrowing consisting of Term SOFR Loans or if any Portion of a Term Loan Borrowing is to be converted into a Term SOFR Portion, the initial Interest Period selected by the Borrower for such Term SOFR Loans or Term SOFR Portion in accordance with Section 2.1.2.4(b2.01(f), as applicable; and (div) the The date of the requested conversion, which shall be a Banking Business Day. The Borrower shall give each Notice of Conversion of Loan Type to the Administrative Agent so as to provide not later than 11:00 a.m. at least three (3) Business Days before the applicable Minimum Notice Period. Any Notice date of Conversion the requested conversion of a Base Rate Loan Type may be modified into a Term SOFR Loan (or revoked by Borrower through Base Rate Portion into a Term SOFR Portion) or at least one (1) Business Day before the Banking Day prior to date of the Minimum Notice Period, and shall thereafter be irrevocablerequested conversion of a Term SOFR Loan into a Base Rate Loan (or a Term SOFR Portion into a Base Rate Portion). Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy facsimile or by e-mail containing a PDF of such signed and completed Notice of Conversion to the Administrative Agent at the office or to the telecopy facsimile number or e-mail address and as otherwise during the hours specified in Section 8.18.01; provided, however, that that, if requested by the Administrative Agent, the Borrower shall promptly deliver to the Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopyfacsimile or e-mail. The Administrative Agent shall promptly notify (x) each Revolving Lender of the contents of each Notice of Conversion relating to Revolving Loans and (y) each Term Lender of the contents of each Notice of Conversion relating to Term Loans or Portions thereof. For the avoidance of doubt, the provisions of this Section 2.01(e) relate to the conversion of the type of interest rate (Term SOFR or Base Rate) applicable to the applicable Loans or Portions and do not permit the conversion of a Revolving Loan, Term Loan or Portion into any other kind of Loan Typeprovided hereunder.

Appears in 1 contract

Samples: Credit Agreement (Arc Document Solutions, Inc.)

Conversion of Loans. Borrower may convert any Revolving Loan Loans from one Type of Revolving Loan Loans to another Type; provided, however, that (i) any conversion of LIBOR Loans into Base Rate Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR Loans, Loans and (ii) Loans shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereof100,000 or more. Borrower shall request such a conversion by a written notice to Administrative Agent in the form of Exhibit E-2C-4, appropriately completed (a "Notice of Conversion of Loan Type"), which specifies: (a) the Revolving The Loans, or portion thereof, which are to be converted; (b) the The Type into which such Revolving Loans, or portion thereof, are to be converted; (c) if If such Revolving Loans are to be converted into LIBOR Loans, the initial Interest Period selected by Borrower for such Loans in accordance with Section 2.1.2.4(b2.1.3(b); and (d) the The date of the requested conversion, which shall be a Banking Day. Borrower shall give so deliver each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least the applicable Minimum Notice Period. Any Notice of Conversion of Loan Type may be modified or revoked by Borrower through the Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocable. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy to Administrative Agent at the office or to the telecopy number and as otherwise during the hours specified in Section 8.112.1; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopy. Administrative Agent shall promptly notify each Lender Bank of the contents of each Notice of Conversion of Loan Type.

Appears in 1 contract

Samples: Credit Agreement (Calpine Corp)

Conversion of Loans. Borrower may convert any Revolving Loan Borrowing from one Type of Revolving Loan Borrowing to another the other Type; provided, however, that (i) any conversion of a Borrowing consisting of LIBOR Loans into a Borrowing consisting of Base Rate Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR Loans, and (ii) Loans shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereof. Borrower shall request such a conversion by a an irrevocable written notice to Administrative Agent in the form of Exhibit E-2B, appropriately completed (a "Notice of Conversion of Loan Type”Conversion"), which specifies, among other things: (ai) the Revolving Loans, or portion thereof, The Borrowing which are is to be converted; (bii) the The Type of Borrowing into which such Revolving Loans, or portion thereof, are Borrowing is to be converted; (ciii) if If such Revolving Loans are Borrowing is to be converted into a Borrowing consisting of LIBOR Loans, the initial Interest Period selected by Borrower for such LIBOR Loans in accordance with Section 2.1.2.4(bSubparagraph 2.01(e); and (div) the The date of the requested conversion, which shall be a Banking Business Day. Borrower shall give each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least three (3) Business Days before the applicable Minimum Notice Period. Any Notice date of Conversion of Loan Type may be modified or revoked by Borrower through the Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocablerequested conversion. Each Notice of Conversion of Loan Type shall be 27 delivered by first-class mail or telecopy facsimile to Administrative Agent at the office or to the telecopy facsimile number and as otherwise during the hours specified in Section 8.1Paragraph 8.01; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopyfacsimile. Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan TypeConversion.

Appears in 1 contract

Samples: Credit Agreement (Silicon Valley Group Inc)

Conversion of Loans. Subject to Section 2.13, the Borrower may convert any all or part of the Loans comprising a Revolving Loan Borrowing or a Term Loan Borrowing from one Type of Revolving Loan to another the other Type; provided, however, that (i) no Base Rate Loan may be converted into a LIBOR Loan after the occurrence and during the continuance of an Event of Default, and provided, further, that any conversion of a LIBOR Loans into Base Rate Loans shall be made on, and only on, the first Loan on any day after other than the last day of an the Interest Period for such LIBOR Loans, and (ii) Loans therefor shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereofsubject to the payments required under Section 2.13. The Borrower shall request such a conversion by a delivering an irrevocable written notice to the Administrative Agent in the form of Exhibit E-2B, duly executed by an Officer of the Borrower and appropriately completed (a “Notice of Conversion of Loan TypeConversion”), which specifiesspecifying, among other things: (ai) the Revolving Loans, or portion thereof, The Borrowing which are is to be converted; (bii) the The Type of Borrowing into which such Revolving Loans, or portion thereof, are Borrowing is to be converted; (ciii) if If such Revolving Loans are Borrowing is to be converted into a Borrowing consisting of LIBOR Loans, the initial Interest Period selected by the Borrower for such LIBOR Loans in accordance with Section 2.1.2.4(b2.01(h); and (div) the The date of the requested conversion, which shall be a Banking Business Day. The Borrower shall give each Notice of Conversion of Loan Type to the Administrative Agent so as to provide not later than 11:00 a.m. at least three Business Days before the applicable Minimum Notice Period. Any Notice date of Conversion of Loan Type may be modified or revoked by Borrower through the Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocablerequested conversion. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy facsimile or e-mail transmission to the Administrative Agent at the office or to facsimile number, e-mail address, and/or address specified on Schedule IV of the telecopy number Disclosure Letter and as otherwise during the hours specified in Section 8.18.01; provided, however, that the Borrower shall shall, if requested by the Administrative Agent, promptly deliver to the Administrative Agent by first-class mail the original of any Notice of Conversion of Loan Type initially delivered by telecopyfacsimile or e-mail transmission. The Administrative Agent shall promptly notify each Appropriate Lender of the contents of each Notice of Conversion of Loan TypeConversion.

Appears in 1 contract

Samples: Credit Agreement (Chiquita Brands International Inc)

Conversion of Loans. Borrower Subject to Section 2.13, the Borrowers may convert any Revolving Loan Loans from one Type of Revolving Loan to another the other Type; provided, however, provided that (i) any conversion of Base Rate Loans into LIBOR Loans shall be in the amount of $50,000 or an integral multiple of $10,000 in excess thereof and any conversion of LIBOR Loans into Base Rate Loans shall be made onin the amount of $100,000 or an integral multiple of $10,000 in excess thereof; provided, further, that (i) no Base Rate Loan may be converted into a LIBOR Loan after the occurrence and only on, during the first continuance of an Event of Default and (ii) any conversion of a LIBOR Loan on any day after other than the last day of an the Interest Period for such LIBOR Loans, and (ii) Loans therefor shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereofsubject to the payments required under Section 2.13. Borrower The Borrowers shall request such a conversion by a delivering to the Administrative Agent an irrevocable written notice to the Administrative Agent substantially in the form of Exhibit E-2, appropriately completed B (a “Notice of Conversion Conversion”), duly executed by a Responsible Officer of Loan Type”the Borrowers and appropriately completed (or shall notify the Administrative Agent by telephone, to be promptly confirmed by the delivery to the Administrative Agent of a signed Notice of Conversion, which may be delivered by facsimile or e-mail), which specifies, among other things: (ai) the Revolving Loans, or portion thereof, The Loans to be converted; (ii) The Type of Loans into which such Loans are to be converted; (biii) the Type into which If such Revolving Loans, or portion thereof, are to be converted; (c) if such Revolving Loans are to be converted into LIBOR Loans, the initial Interest Period selected by Borrower the Borrowers for such LIBOR Loans in accordance with Section 2.1.2.4(b2.01(f), as applicable; and (div) the The date of the requested conversion, which shall be a Banking Business Day. Borrower -55- 4159-4780-3173 ​ ​ ​ The Borrowers shall give each Notice of Conversion of Loan Type to the Administrative Agent so as to provide not later than 11:00 a.m. at least three (3) Business Days before the applicable Minimum Notice Period. Any Notice date of Conversion the requested conversion of a Base Rate Loan Type may be modified into a LIBOR Loan or revoked by Borrower through at least one (1) Business Day before the Banking Day prior to date of the Minimum Notice Period, and shall thereafter be irrevocablerequested conversion of a LIBOR Loan into a Base Rate Loan. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy facsimile or by e-mail containing a PDF of such signed and completed Notice of Conversion to the Administrative Agent at the office or to the telecopy facsimile number or e-mail address and as otherwise during the hours specified in Section 8.18.01; provided, however, that Borrower that, if requested by the Administrative Agent, the Borrowers shall promptly deliver to the Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopyfacsimile or e-mail. The Administrative Agent shall promptly notify each Revolving Lender of the contents of each Notice of Conversion relating to Revolving Loans and each Term Lender of the contents of each Notice of Conversion relating to Term Loans. For the avoidance of doubt, the provisions of this Section 2.01(e) relate to the conversion of the type of interest rate (LIBOR or Base Rate) applicable to the applicable Loans and do not permit the conversion of a Revolving Loan or Term Loan into any other kind of Loan Typeprovided hereunder.

Appears in 1 contract

Samples: Credit Agreement (Monarch Casino & Resort Inc)

Conversion of Loans. Borrower may convert any Revolving Loan Loans from one Type of Revolving Loan Loans to another Type; provided, however, that (i) any conversion of LIBOR Loans into Base Rate Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR Loans, Loans and (ii) Loans shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereof100,000 or more. Borrower shall request such a conversion by a written notice to Administrative Agent in the form of Exhibit E-2C-3, appropriately completed (a "Notice of Conversion of Loan Type"), which specifies: (a) the Revolving The Loans, or portion thereof, which are to be converted; (b) the The Type into which such Revolving Loans, or portion thereof, are to be converted; (c) if If such Revolving Loans are to be converted into LIBOR Loans, the initial Interest Period selected by Borrower for such Loans in accordance with Section 2.1.2.4(b2.1.2(b); and (d) the The date of the requested conversion, which shall be a Banking Day. Borrower shall give so deliver each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least the applicable Minimum Notice Period. Any Notice of Conversion of Loan Type may be modified or revoked by Borrower through the Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocable. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy to Administrative Agent at the office or to the telecopy number and as otherwise during the hours specified in Section 8.112.1; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopy. Administrative Agent shall promptly notify each Lender Bank of the contents of each Notice of Conversion of Loan Type.

Appears in 1 contract

Samples: Credit Agreement (Calpine Corp)

Conversion of Loans. Borrower may convert any Revolving Loan from one Type of Revolving Loan to another Type; provided, however, that (i) any conversion of LIBOR LIBORSOFR Loans into Base Rate Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR LIBORSOFR Loans, and (ii) Loans shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereof. Borrower shall request such a conversion by a written notice to Administrative Agent in the form of Exhibit E-2, appropriately completed (a “Notice of Conversion of Loan Type”), which specifies: (a) the Revolving Loans, or portion thereof, which are to be converted; (b) the Type into which such Revolving Loans, or portion thereof, are to be converted; (c) if such Revolving Loans are to be converted into LIBOR LIBORSOFR Loans, the initial Interest Period selected by Borrower for such Loans in accordance with Section 2.1.2.4(b); and (d) the date of the requested conversion, which shall be a Banking Day. Borrower shall give each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least the applicable Minimum Notice Period. Any Notice of Conversion of Loan Type may be modified or revoked by Borrower through the Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocable. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy to Administrative Agent at the office or to the telecopy number and as otherwise specified in Section 8.1; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopy. Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan Type.

Appears in 1 contract

Samples: Credit Agreement (Tampa Electric Co)

Conversion of Loans. Subject to Section 2.13, the Borrower may convert any Revolving Loan Borrowing from one Type of Revolving Loan Borrowing to another the other Type; provided, however, that any conversion shall be in the amount of $250,000 or an integral multiple of $250,000 in excess thereof; provided, further, that (i) no Base Rate Loan may be converted into a LIBOR Loan after the occurrence and during the continuance of an Event of Default and (ii) any conversion of a LIBOR Loans into Base Rate Loans shall be made on, and only on, the first Loan on any day after other than the last day of an the Interest Period for such LIBOR Loans, and (ii) Loans therefor shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereofsubject to the payments required under Section 2.13. The Borrower shall request such a conversion by a delivering to the Administrative Agent an irrevocable written notice to the Administrative Agent substantially in the form of Exhibit E-2, appropriately completed B (a “Notice of Conversion of Loan TypeConversion”), duly executed by a Responsible Officer of the Borrower and appropriately completed, which specifies, among other things: (ai) the The Revolving Loans, or portion thereof, Loan Borrowing which are is to be converted; (bii) the The Type of Revolving Loan Borrowing into which such Revolving Loans, or portion thereof, are Loan Borrowing is to be converted; (ciii) if If such Revolving Loans are Loan Borrowing is to be converted into a Revolving Loan Borrowing consisting of LIBOR Loans, the initial Interest Period selected by the Borrower for such LIBOR Loans in accordance with Section 2.1.2.4(b2.01(f), as applicable; and (div) the The date of the requested conversion, which shall be a Banking Business Day. The Borrower shall give each Notice of Conversion of Loan Type to the Administrative Agent so as to provide not later than 11:00 a.m. at least three (3) Business Days before the applicable Minimum Notice Period. Any Notice date of Conversion the requested conversion of a Base Rate Loan Type may be modified into a LIBOR Loan or revoked by Borrower through at least one (1) Business Day before the Banking Day prior to date of the Minimum Notice Period, and shall thereafter be irrevocablerequested conversion of a LIBOR Loan into a Base Rate Loan. Each Notice of Conversion of Loan Type shall be delivered by firstfacsimile or by e-class mail or telecopy containing a PDF of such signed and completed Notice of Conversion to the Administrative Agent at the office facsimile number or to e-mail address and during the telecopy number and as otherwise hours specified in Section 8.1; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopy8.01. The Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan Typerelating to Revolving Loans.

Appears in 1 contract

Samples: Credit Agreement (International Rectifier Corp /De/)

Conversion of Loans. Subject to Section 2.13, the Borrower may convert any Revolving Loan Borrowing (other than a Committed Currency Revolving Loan Borrowing) or any Portion of the Term Loan Borrowing from one Type of Revolving Loan Borrowing or Portion of the Term Loan Borrowing, respectively, to another the other Type; provided, however, that (i) any conversion of a Revolving Loan Borrowing consisting of Base Rate Loans into a Revolving Loan Borrowing consisting of LIBOR Loans or a Base Rate Portion of the Term Loan Borrowing into a LIBOR Portion of the Term Loan Borrowing shall be in the amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and any conversion of a Revolving Loan Borrowing consisting of LIBOR Loans into a Revolving Loan Borrowing consisting of Base Rate Loans or a LIBOR Portion of the Term Loan Borrowing into a Base Rate Portion of the Term Loan Borrowing shall be made on, and only on, in the first day after the last day of an Interest Period for such LIBOR Loans, and (ii) Loans shall be converted only in amounts amount of $5,000,000 and increments or an integral multiple of $1,000,000 in excess thereof; provided, further, that no Base Rate Loan or Base Rate Portion may be converted into a LIBOR Loan or LIBOR Portion, respectively, after the occurrence and during the continuance of an Event of Default and provided, further, that any conversion of a LIBOR Loan or LIBOR Portion on any day other than the last day of the Interest Period therefor shall be subject to the payments required under Section 2.13. The Borrower shall request such a conversion by a delivering to the Administrative Agent an irrevocable written notice to the Administrative Agent substantially in the form of Exhibit E-2, appropriately completed B (a “Notice of Conversion Conversion”), duly executed by a Responsible Officer of Loan Type”the Borrower and appropriately completed (or shall notify the Administrative Agent by telephone, to be promptly confirmed by the delivery to the Administrative Agent of a signed Notice of Conversion, which may be delivered by facsimile or e-mail), which specifies, among other things: (ai) The Revolving Loan Borrowing or the Revolving Loans, or portion thereof, Portion of the Term Loan Borrowing which are is to be converted, as applicable; (bii) the The Type of Revolving Loan Borrowing into which such Revolving Loans, Loan Borrowing is to be converted or portion thereof, are the amount and Type of each Portion of the Term Loan Borrowing into which it is to be converted, as applicable; (ciii) if If such Revolving Loans are Loan Borrowing is to be converted into a Revolving Loan Borrowing consisting of LIBOR LoansLoans or if any Portion of the Term Loan Borrowing is to be converted into a LIBOR Portion, the initial Interest Period selected by the Borrower for such LIBOR Loans or LIBOR Portion in accordance with Section 2.1.2.4(b2.01(g), as applicable; and (div) the The date of the requested conversion, which shall be a Banking Business Day. The Borrower shall give each Notice of Conversion of Loan Type to the Administrative Agent so as to provide not later than 10:00 a.m. at least three (3) Business Days before the applicable Minimum Notice Period. Any Notice date of Conversion the requested conversion of a Base Rate Loan Type may be modified into a LIBOR Loan (or revoked by Borrower through Base Rate Portion into a LIBOR Portion) or at least one (1) Business Day before the Banking Day prior to date of the Minimum Notice Period, and shall thereafter be irrevocablerequested conversion of a LIBOR Loan into a Base Rate Loan (or a LIBOR Portion into a Base Rate Portion). Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy facsimile or e-mail containing a PDF of such signed and completed Notice of Conversion to the Administrative Agent at the office or to the telecopy facsimile number or e-mail address and as otherwise during the hours specified in Section 8.18.01; provided, however, that that, if requested by the Administrative Agent, the Borrower shall promptly deliver to the Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopyfacsimile or e-mail. The Administrative Agent shall promptly notify each (x) Revolving Lender of the contents of each Notice of Conversion relating to Revolving Loans and (y) each Term Lender of the contents of each Notice of Conversion relating to term Loans or Portions thereof. For the avoidance of doubt, the provisions of this Section 2.01(f) relate to the conversion of the type of interest rate (LIBOR or Base Rate) applicable to the applicable Loans or Portions and do not permit the conversion of a Revolving Loan, Term Loan or Portion into any other kind of Loan Typeprovided hereunder.

Appears in 1 contract

Samples: Credit Agreement (Valueclick Inc/Ca)

Conversion of Loans. Subject to Section 2.13, the Borrower may convert any Revolving Loan Borrowing from one Type of Revolving Loan Borrowing to another the other Type; provided, however, that (i) any conversion of LIBOR Loans into a Base Rate Loans Loan into a LIBOR Loan shall be made on, in the amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and only on, the first day after the last day any conversion of an Interest Period for such a LIBOR Loans, and (ii) Loans Loan into a Base Rate Loan shall be converted only in amounts the amount of $5,000,000 and increments or an integral multiple of $1,000,000 in excess thereof; provided, further, that no Base Rate Loan may be converted into a LIBOR Loan after the occurrence and during the continuance of an Event of Default and provided, further, that any conversion of a LIBOR Loan on any day other than the last day of the Interest Period therefor shall be subject to the payments required under Section 2.13. The Borrower shall request such a conversion by a delivering to the Administrative Agent an irrevocable written notice to the Administrative Agent substantially in the form of Exhibit E-2, appropriately completed B (a “Notice of Conversion Conversion”), duly executed by a Responsible Officer of Loan Type”the Borrower and appropriately completed (or shall notify the Administrative Agent by telephone, to be promptly confirmed by the delivery to the Administrative Agent of a signed Notice of Conversion, which may be delivered by facsimile), which specifies, among other things: (ai) the The Revolving Loans, or portion thereof, Loan Borrowing which are is to be converted; (bii) the The Type of Revolving Loan Borrowing into which such Revolving Loans, or portion thereof, are Loan Borrowing is to be converted; (ciii) if If such Revolving Loans are Loan Borrowing is to be converted into a Revolving Loan Borrowing consisting of LIBOR Loans, the initial Interest Period selected by the Borrower for such LIBOR Loans in accordance with Section 2.1.2.4(b2.01(f), as applicable; and (div) the The date of the requested conversion, which shall be a Banking Business Day. The Borrower shall give each Notice of Conversion of Loan Type to the Administrative Agent so as to provide not later than 10:00 a.m. at least three (3) Business Days before the applicable Minimum Notice Period. Any Notice date of Conversion the requested conversion of a Base Rate Loan Type may be modified into a LIBOR Loan or revoked by Borrower through at least one (1) Business Day before the Banking Day prior to date of the Minimum Notice Period, and shall thereafter be irrevocablerequested conversion of a LIBOR Loan into a Base Rate Loan. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy facsimile to the Administrative Agent at the office or to the telecopy facsimile number and as otherwise during the hours specified in Section 8.18.01; provided, however, that that, if requested by the Administrative Agent, the Borrower shall promptly deliver to the Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopyfacsimile. The Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan Typerelating to Revolving Loans.

Appears in 1 contract

Samples: Credit Agreement (Valueclick Inc/Ca)

Conversion of Loans. Subject to Section 2.13, the Borrower may convert any Revolving Loan Borrowing (other than a Committed Currency Revolving Loan Borrowing) from one Type of Revolving Loan Borrowing to another the other Type; provided, however, that (i) any conversion of LIBOR Loans into a Base Rate Loans Loan into a LIBOR Loan shall be made on, in the amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and only on, the first day after the last day any conversion of an Interest Period for such a LIBOR Loans, and (ii) Loans Loan into a Base Rate Loan shall be converted only in amounts the amount of $5,000,000 and increments or an integral multiple of $1,000,000 in excess thereof; provided, further, that no Base Rate Loan may be converted into a LIBOR Loan after the occurrence and during the continuance of an Event of Default and provided, further, that any conversion of a LIBOR Loan on any day other than the last day of the Interest Period therefor shall be subject to the payments required under Section 2.13. The Borrower shall request such a conversion by a delivering to the Administrative Agent an irrevocable written notice to the Administrative Agent substantially in the form of Exhibit E-2, appropriately completed B (a “Notice of Conversion Conversion”), duly executed by a Responsible Officer of Loan Type”the Borrower and appropriately completed (or shall notify the Administrative Agent by telephone, to be promptly confirmed by the delivery to the Administrative Agent of a signed Notice of Conversion, which may be delivered by facsimile), which specifies, among other things: (ai) the The Revolving Loans, or portion thereof, Loan Borrowing which are is to be converted; (bii) the The Type of Revolving Loan Borrowing into which such Revolving Loans, or portion thereof, are Loan Borrowing is to be converted; (ciii) if If such Revolving Loans are Loan Borrowing is to be converted into a Revolving Loan Borrowing consisting of LIBOR Loans, the initial Interest Period selected by the Borrower for such LIBOR Loans in accordance with Section 2.1.2.4(b2.01(f), as applicable; and (div) the The date of the requested conversion, which shall be a Banking Business Day. The Borrower shall give each Notice of Conversion of Loan Type to the Administrative Agent so as to provide not later than 10:00 a.m. at least three (3) Business Days before the applicable Minimum Notice Period. Any Notice date of Conversion the requested conversion of a Base Rate Loan Type may be modified into a LIBOR Loan or revoked by Borrower through at least one (1) Business Day before the Banking Day prior to date of the Minimum Notice Period, and shall thereafter be irrevocablerequested conversion of a LIBOR Loan into a Base Rate Loan. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy facsimile to the Administrative Agent at the office or to the telecopy facsimile number and as otherwise during the hours specified in Section 8.18.01; provided, however, that that, if requested by the Administrative Agent, the Borrower shall promptly deliver to the Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopyfacsimile. The Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan Typerelating to Revolving Loans.

Appears in 1 contract

Samples: Credit Agreement (Shuffle Master Inc)

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Conversion of Loans. Subject to Section 2.13, the Borrower may convert any Revolving Loan Borrowing or any Portion of any Term Loan Borrowing from one Type of Revolving Loan Borrowing or Portion of Term Loan Borrowing, respectively, to another the other Type; provided, however, that (i) any conversion of a Revolving Loan Borrowing consisting of Base Rate Loans into a Revolving Loan Borrowing consisting of LIBOR Loans or a Base Rate Portion of a Term Loan Borrowing into a LIBOR Portion of a Term Loan Borrowing shall be in the amount of $1,000,000 or an integral multiple of $500,000 in excess thereof and any conversion of a Revolving Loan Borrowing consisting of LIBOR Loans into a Revolving Loan Borrowing consisting of Base Rate Loans or a LIBOR Portion of a Term Loan Borrowing into a Base Rate Portion of a Term Loan Borrowing shall be made onin the amount of $500,000 or an integral multiple of $100,000 in excess thereof; provided, further, that no Base Rate Loan or Base Rate Portion may be converted into a LIBOR Loan or LIBOR Portion, respectively, after the occurrence and during the continuance of an Event of Default if the Administrative Agent or the Required Lenders have determined in its or their sole discretion not to permit such conversions (and the Administrative Agent shall notify the Borrower of such determination), and only onprovided, the first further, that any conversion of a LIBOR Loan or LIBOR Portion on any day after other than the last day of an the Interest Period for such LIBOR Loans, and (ii) Loans therefor shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereofsubject to the payments required under Section 2.13. The Borrower shall request such a conversion by a delivering to the Administrative Agent an irrevocable written notice to the Administrative Agent substantially in the form of Exhibit E-2, appropriately completed B (a “Notice of Conversion of Loan TypeConversion”), duly executed by a Responsible Officer of the Borrower and appropriately completed, which specifies, among other things: (ai) The Revolving Loan Borrowing or the Revolving Loans, or portion thereof, Portion of a Term Loan Borrowing which are is to be converted, as applicable; (bii) the The Type of Revolving Loan Borrowing into which such Revolving Loans, Loan Borrowing is to be converted or portion thereof, are the amount and Type of each Portion of a Term Loan Borrowing into which it is to be converted, as applicable; (ciii) if If such Revolving Loans are Loan Borrowing is to be converted into a Revolving Loan Borrowing consisting of LIBOR LoansLoans or if any Portion of a Term Loan Borrowing is to be converted into a LIBOR Portion, the initial Interest Period selected by the Borrower for such LIBOR Loans or LIBOR Portion in accordance with Section 2.1.2.4(b2.01(f), as applicable; and (div) the The date of the requested conversion, which shall be a Banking Business Day. The Borrower shall give each Notice of Conversion of Loan Type to the Administrative Agent so as to provide not later than 12:00 p.m. at least three Business Days before the applicable Minimum Notice Period. Any Notice date of Conversion the requested conversion of a Base Rate Loan Type may be modified into a LIBOR Loan (or revoked by Borrower through Base Rate Portion into a LIBOR Portion) or one Business Day before the Banking Day prior to date of the Minimum Notice Period, and shall thereafter be irrevocablerequested conversion of a LIBOR Loan into a Base Rate Loan (or a LIBOR Portion into a Base Rate Portion). Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy Electronic Transmission containing such signed and completed Notice of Conversion to the Administrative Agent at the office or to the telecopy facsimile number or e-mail address and as otherwise during the hours specified in Section 8.18.01 (or, in lieu of delivering a Notice of Conversion, the Borrower may give the Administrative Agent telephonic notice by the required time of any proposed borrowing under this Section 2.01(e), provided, that such notice shall be immediately confirmed in writing by delivery of a duly executed Notice of Conversion by Electronic Transmission as described above); provided, however, that the Borrower shall promptly deliver to the Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopyElectronic Transmission. The Administrative Agent shall promptly notify (x) each Revolving Lender of the contents of each Notice of Conversion relating to Revolving Loans and (y) each Term Lender of the contents of each Notice of Conversion relating to Term Loans or Portions thereof. For the avoidance of doubt, the provisions of this Section 2.01(e) relate to the conversion of the type of interest rate (LIBOR or Base Rate) applicable to the applicable Loans or Portions and do not permit the conversion of a Revolving Loan, Term Loan or Portion into any other kind of Loan Typeprovided hereunder.

Appears in 1 contract

Samples: Credit Agreement (Del Taco Restaurants, Inc.)

Conversion of Loans. Borrower may convert any Revolving Loan from one Type of Revolving Loan to another Type; provided, however, that (i) any conversion of LIBOR Loans into Base Rate Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR Loans, and (ii) Loans shall be converted only in amounts of $5,000,000 10,000,000 and increments of $1,000,000 in excess thereof. Borrower shall request such a conversion by a written notice to Administrative Agent in the form of Exhibit E-2C-2, appropriately completed (a "Notice of Conversion of Loan Type"), which specifies: (a) the Revolving The Loans, or portion thereof, which are to be converted; (b) the The Type into which such Revolving Loans, or portion thereof, are to be converted; (c) if If such Revolving Loans are to be converted into LIBOR Loans, the initial Interest Period selected by Borrower for such Loans in accordance with Section 2.1.2.4(b2.1.3.4(b); and (d) the The date of the requested conversion, which shall be a Banking Day. Borrower shall give each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least the applicable Minimum Notice Period. Any Notice of Conversion of Loan Type may be modified or revoked by Borrower through the Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocable. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy to Administrative Agent at the office or to the telecopy number and as otherwise specified in Section 8.1; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopy. Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan Type.

Appears in 1 contract

Samples: Credit Agreement (Tampa Electric Co)

Conversion of Loans. Borrower may convert any Revolving Loan Loans from one Type of Revolving Loan Loans to another Type; provided, however, that (i) any conversion of LIBOR Loans into Base Rate Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR Loans, Loans and (ii) Loans shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereofor more. Borrower shall request such a conversion by a written notice to Administrative Agent in the form of Exhibit E-2C-4, appropriately completed (a "Notice of Conversion of Loan Type"), which specifies: (a) the Revolving The Loans, or portion thereof, which are to be converted; (b) the The Type into which such Revolving Loans, or portion thereof, are to be converted; (c) if If such Revolving Loans are to be converted into LIBOR Loans, the initial Interest Period selected by Borrower for such Loans in accordance with Section 2.1.2.4(b2.1.3(b); and (d) the The date of the requested conversion, which shall be a Banking Day. Borrower shall give so deliver each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least the applicable Minimum Notice Period. Any Notice of Conversion of Loan Type may be modified or revoked by Borrower through the Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocable. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy to Administrative Agent at the office or to the telecopy number and as otherwise during the hours specified in Section 8.112.1; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopy. Administrative Agent shall promptly notify each Lender Bank of the contents of each Notice of Conversion of Loan Type.

Appears in 1 contract

Samples: Credit Agreement (Calpine Corp)

Conversion of Loans. Borrower may convert any Revolving Loan from one Type of Revolving Loan to another Type; provided, however, that (i) any conversion of LIBOR Loans into Base Rate Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR Loans, and (ii) Loans shall be converted only in amounts of $5,000,000 1,000,000 and increments of $1,000,000 in excess thereof. Borrower shall request such a conversion by a written notice to Administrative Agent in the form of Exhibit E-2, appropriately completed (a “Notice of Conversion of Loan Type”), which specifies: (a) the Revolving Loans, or portion thereof, which are to be converted; (b) the Type into which such Revolving Loans, or portion thereof, are to be converted; (c) if such Revolving Loans are to be converted into LIBOR Loans, the initial Interest Period selected by Borrower for such Loans in accordance with Section 2.1.2.4(b); and (d) the date of the requested conversion, which shall be a Banking Day. Borrower shall give each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least the applicable Minimum Notice Period. Any Notice of Conversion of Loan Type may be modified or revoked by Borrower through the Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocable. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy to Administrative Agent at the office or to the telecopy number and as otherwise specified in Section 8.1; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopy. Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan Type.

Appears in 1 contract

Samples: Credit Agreement (Tampa Electric Co)

Conversion of Loans. Subject to Section 2.13, the Borrower may convert any all or part of the Loans comprising a Revolving Loan Borrowing, a Term B Borrowing or a Term C Borrowing from one Type of Revolving Loan to another the other Type; provided, however, that (i) no Base Rate Loan may be converted into a LIBOR Loan after the occurrence and during the continuance of an Event of Default, and provided further that any conversion of a LIBOR Loans into Base Rate Loans shall be made on, and only on, the first Loan on any day after other than the last day of an the Interest Period for such LIBOR Loans, and (ii) Loans therefor shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereofsubject to the payments required under Section 2.13. The Borrower shall request such a conversion by a delivering an irrevocable written notice to the Administrative Agent in the form of Exhibit E-2B hereto, duly executed by an Officer of the Borrower and appropriately completed (a “Notice of Conversion of Loan TypeConversion”), which specifiesspecifying, among other things: (ai) the Revolving Loans, or portion thereof, The Borrowing which are is to be converted; (bii) the The Type of Borrowing into which such Revolving Loans, or portion thereof, are Borrowing is to be converted; (ciii) if If such Revolving Loans are Borrowing is to be converted into a Borrowing consisting of LIBOR Loans, the initial Interest Period selected by the Borrower for such LIBOR Loans in accordance with Section 2.1.2.4(b2.01(g); and (div) the The date of the requested conversion, which shall be a Banking Business Day. The Borrower shall give each Notice of Conversion of Loan Type to the Administrative Agent so as to provide not later than 11:00 a.m. at least three Business Days before the applicable Minimum Notice Period. Any Notice date of Conversion of Loan Type may be modified or revoked by Borrower through the Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocablerequested conversion. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy facsimile or e-mail transmission to the Administrative Agent at the office or to facsimile number, e-mail address, and/or address specified on Schedule VII and during the telecopy number and as otherwise hours specified in Section 8.18.01; provided, however, that the Borrower shall shall, if requested by the Administrative Agent, promptly deliver to the Administrative Agent by first-class mail the original of any Notice of Conversion of Loan Type initially delivered by telecopyfacsimile or e-mail transmission. The Administrative Agent shall promptly notify each Appropriate Lender of the contents of each Notice of Conversion of Loan TypeConversion.

Appears in 1 contract

Samples: Credit Agreement (Chiquita Brands International Inc)

Conversion of Loans. Borrower Subject to Section 2.13, the Borrowers may convert any Revolving Loan Loans from one Type of Revolving Loan to another the other Type; provided, however, provided that (i) any conversion of LIBOR Base Rate Loans into SOFR Loans shall be in the amount of $50,000 or an integral multiple of $10,000 in excess thereof and any conversion of SOFR Loans into Base Rate Loans shall be made onin the amount of $100,000 or an integral multiple of $10,000 in excess thereof; provided, further, that (i) no Base Rate Loan may be converted into a SOFR Loan after the occurrence and only on, during the first continuance of an Event of Default and (ii) any conversion of a SOFR Loan on any day after other than the last day of an the Interest Period for such LIBOR Loans, and (ii) Loans therefor shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereofsubject to the payments required under Section 2.13. Borrower The Borrowers shall request such a conversion by a delivering to the Administrative Agent an irrevocable written notice to the Administrative Agent substantially in the form of Exhibit E-2, appropriately completed B (a “Notice of Conversion Conversion”), duly executed by a Responsible Officer of Loan Type”the Borrowers and appropriately completed (or shall notify the Administrative Agent by telephone, to be promptly confirmed by the delivery to the Administrative Agent of a signed Notice of Conversion, which may be delivered by facsimile or e-mail), which specifies:, among other things: ​ 4147-6459-6034 ​ (ai) the The Revolving Loans, or portion thereof, Loans to be converted; (ii) The Type of Revolving Loans into which such Revolving Loans are to be converted; (biii) the Type into which such Revolving Loans, or portion thereof, are to be converted; (c) if If such Revolving Loans are to be converted into LIBOR SOFR Loans, the initial Interest Period selected by Borrower the Borrowers for such SOFR Loans in accordance with Section 2.1.2.4(b2.01(f), as applicable; andand ​ (div) the The date of the requested conversion, which shall be a Banking Business Day. Borrower ​ The Borrowers shall give each Notice of Conversion of Loan Type to the Administrative Agent so as to provide not later than 11:00 a.m. at least three (3) U.S. Government Securities Business Days before the applicable Minimum Notice Period. Any Notice date of Conversion the requested conversion of a Base Rate Loan Type may be modified into a SOFR Loan or revoked by Borrower through at least one (1) Business Day before the Banking Day prior to date of the Minimum Notice Period, and shall thereafter be irrevocablerequested conversion of a SOFR Loan into a Base Rate Loan. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy facsimile or by e-mail containing a PDF of such signed and completed Notice of Conversion to the Administrative Agent at the office or to the telecopy facsimile number or e-mail address and as otherwise during the hours specified in Section 8.18.01; provided, however, that Borrower that, if requested by the Administrative Agent, the Borrowers shall promptly deliver to the Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopyfacsimile or e-mail. The Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan Typerelating to Revolving Loans.

Appears in 1 contract

Samples: Credit Agreement (Monarch Casino & Resort Inc)

Conversion of Loans. Borrower may convert any Revolving Loan Loans from one Type of Revolving Loan to another TypeType of Loan; provided, however, provided that (ia) any conversion of LIBOR Loans into Base Rate Loans shall be made effective on, and only on, the first day after the last day expiration of an Interest Period for such LIBOR Loans, and (iib) Loans shall be converted only in amounts of $5,000,000 500,000 and increments of $1,000,000 100,000 in excess thereof. Borrower shall request such a conversion by delivering to Administrative Agent a written notice to Administrative Agent in the form of Exhibit E-2C-2, appropriately completed (a “Notice of Conversion of Loan Type”), which contains or specifies, among other things: (ai) the Revolving Loans, or portion thereof, which are to be converted; (bii) the Type of Loans into which such Revolving Loans, or portion thereof, are to be converted; (ciii) if such Revolving Loans are to be converted into LIBOR Loans, the initial Interest Period selected by Borrower for such Loans (which Interest Period shall be selected in accordance with Section 2.1.2.4(b2.1.2(c)); (iv) the proposed date of the requested conversion (which shall be a Banking Day and otherwise in accordance with this Section 2.1.5); and (dv) the date if Base Rate Loans are to be converted to LIBOR Loans, a certification by Borrower that no Event of the requested conversion, which shall be a Banking DayDefault has occurred and is continuing. Borrower shall give so deliver each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least the applicable Minimum Notice Period. Any Notice of Conversion of Loan Type may be modified or revoked by Borrower through the Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocable. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy to Administrative Agent at in the office or to the telecopy number and as otherwise specified manner provided in Section 8.1; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopy11.1. Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan Type.

Appears in 1 contract

Samples: Credit Agreement (Calpine Corp)

Conversion of Loans. Subject to Section 2.13, the Borrower may convert any Revolving Loan Borrowing (other than a Committed Currency Revolving Loan Borrowing) from one Type of Revolving Loan Borrowing to another the other Type; provided, however, that (i) any conversion of a Revolving Loan Borrowing consisting of Base Rate Loans into a Revolving Loan Borrowing consisting of LIBOR Loans shall be in the amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and any conversion of a Revolving Loan Borrowing consisting of LIBOR Loans into a Revolving Loan Borrowing consisting of Base Rate Loans shall be made on, and only on, in the first day after the last day of an Interest Period for such LIBOR Loans, and (ii) Loans shall be converted only in amounts amount of $5,000,000 and increments or an integral multiple of $1,000,000 in excess thereof; provided, further, that no Base Rate Loan may be converted into a LIBOR Loan after the occurrence and during the continuance of an Event of Default and provided, further, that any conversion of a LIBOR Loan on any day other than the last day of the Interest Period therefor shall be subject to the payments required under Section 2.13. The Borrower shall request such a conversion by a delivering to the Administrative Agent an irrevocable written notice to the Administrative Agent substantially in the form of Exhibit E-2, appropriately completed B (a “Notice of Conversion Conversion”), duly executed by a Responsible Officer of Loan Type”the Borrower and appropriately completed (or shall notify the Administrative Agent by telephone, to be promptly confirmed by the delivery to the Administrative Agent of a signed Notice of Conversion, which may be delivered by facsimile or e-mail), which specifies, among other things: (ai) the The Revolving Loans, or portion thereof, Loan Borrowing which are is to be converted; (bii) the The Type of Revolving Loan Borrowing into which such Revolving Loans, or portion thereof, are Loan Borrowing is to be converted; (ciii) if If such Revolving Loans are Loan Borrowing is to be converted into a Revolving Loan Borrowing consisting of LIBOR Loans, the initial Interest Period selected by the Borrower for such LIBOR Loans in accordance with Section 2.1.2.4(b2.01(g), as applicable; and (div) the The date of the requested conversion, which shall be a Banking Business Day. The Borrower shall give each Notice of Conversion of Loan Type to the Administrative Agent so as to provide not later than 10:00 a.m. at least three (3) Business Days before the applicable Minimum Notice Period. Any Notice date of Conversion the requested conversion of a Base Rate Loan Type may be modified into a LIBOR Loan or revoked by Borrower through at least one (1) Business Day before the Banking Day prior to date of the Minimum Notice Period, and shall thereafter be irrevocablerequested conversion of a LIBOR Loan into a Base Rate Loan. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy facsimile or e-mail containing a PDF of such signed and completed Notice of Conversion to the Administrative Agent at the office or to the telecopy facsimile number or e-mail address and as otherwise during the hours specified in Section 8.18.01; provided, however, that that, if requested by the Administrative Agent, the Borrower shall promptly deliver to the Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopyfacsimile or e-mail. The Administrative Agent shall promptly notify each Revolving Lender of the contents of each Notice of Conversion of Loan Typerelating to Revolving Loans.

Appears in 1 contract

Samples: Credit Agreement (Valueclick Inc/Ca)

Conversion of Loans. Borrower may convert any Revolving Loan from one Type of Revolving Loan to another Type; provided, however, that (i) any conversion of LIBOR Loans into Base Rate ABR Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR Loans, and (ii) Loans shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereof. Borrower shall request such a conversion by a written notice to Administrative Agent in the form of Exhibit E-2C-1, appropriately completed (a “Notice of Conversion of Loan Type”), which specifies: (a) the Revolving Loans, or portion thereof, which are to be converted; (b) the Type into which such Revolving Loans, or portion thereof, are to be converted; (c) if such Revolving Loans are to be converted into LIBOR Loans, the initial Interest Period selected by Borrower for such Loans in accordance with Section 2.1.2.4(b); and (d) the date of the requested conversion, which shall be a Banking Day. Borrower shall give each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least the applicable Minimum Notice Period. Any Notice of Conversion of Loan Type may be modified or revoked by Borrower through the Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocable. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy to Administrative Agent at the office or to the telecopy number and as otherwise specified in Section 8.1; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopy. Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan Type.

Appears in 1 contract

Samples: Credit Agreement (Teco Energy Inc)

Conversion of Loans. Borrower may convert any Revolving Loan from one Type of Revolving Loan to another Type; provided, however, that (i) any conversion of LIBOR Loans into Base Rate Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR Loans, and (ii) Loans within each Facility shall be converted only in amounts of $5,000,000 10,000,000 and increments of $1,000,000 in excess thereof. Borrower shall request such a conversion by a written notice to Administrative Agent in the form of Exhibit E-2C-2, appropriately completed (a "Notice of Conversion of Loan Type"), which specifies: (a) the Revolving The Loans, or portion thereof, which are to be convertedconverted (including the Facility under which such Loans were provided); (b) the The Type into which such Revolving Loans, or portion thereof, are to be converted; (c) if If such Revolving Loans are to be converted into LIBOR Loans, the initial Interest Period selected by Borrower for such Loans in accordance with Section 2.1.2.4(b2.1.3.4(b); and (d) the The date of the requested conversion, which shall be a Banking Day. Borrower shall give each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least the applicable Minimum Notice Period. Any Notice of Conversion of Loan Type may be modified or revoked by Borrower through the Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocable. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy to Administrative Agent at the office or to the telecopy number and as otherwise specified in Section 8.1; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopy. Administrative Agent shall promptly notify each Lender under the applicable Facility of the contents of each Notice of Conversion of Loan Type.

Appears in 1 contract

Samples: Credit Agreement (Teco Energy Inc)

Conversion of Loans. Borrower may convert any Revolving Loan from one Type of Revolving Loan to another Type; provided, however, that (i) any conversion of LIBOR Loans into Base Rate Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR Loans, and (ii) Loans shall be converted only in amounts of $5,000,000 10,000,000 and increments of $1,000,000 in excess thereof. Borrower shall request such a conversion by a written notice to Administrative Agent in the form of Exhibit E-2C-2, appropriately completed (a "Notice of Conversion of Loan Type"), which specifies: (a) the Revolving Loans, or portion thereof, which are to be converted; (b) the Type into which such Revolving Loans, or portion thereof, are to be converted; (c) if such Revolving Loans are to be converted into LIBOR Loans, the initial Interest Period selected by Borrower for such Loans in accordance with Section 2.1.2.4(b2.1.3.4(b); and (d) the date of the requested conversion, which shall be a Banking Day. Borrower shall give each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least the applicable Minimum Notice Period. Any Notice of Conversion of Loan Type may be modified or revoked by Borrower through the Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocable. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy to Administrative Agent at the office or to the telecopy number and as otherwise specified in Section 8.1; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopy. Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan Type.

Appears in 1 contract

Samples: Credit Agreement (Teco Energy Inc)

Conversion of Loans. Subject to Section 2.13, the Borrower may convert any Revolving Loan Borrowing from one Type of Revolving Loan Borrowing to another the other Type; provided, however, that (i) any conversion of a Borrowing consisting of Base Rate Loans into a Borrowing consisting of LIBOR Loans shall be in the amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and any conversion of a Borrowing consisting of LIBOR Loans into a Borrowing consisting of Base Rate Loans shall be made on, and only on, in the first day after the last day of an Interest Period for such LIBOR Loans, and (ii) Loans shall be converted only in amounts amount of $5,000,000 and increments or an integral multiple of $1,000,000 in excess thereofthereof ; provided, further, that no Base Rate Loan may be converted into a LIBOR Loan after the occurrence and during the continuance of an Event of Default and provided, further, that any conversion of a LIBOR Loan on any day other than the last day of the Interest Period therefor shall be subject to the payments required under Section 2.13. The Borrower shall request such a conversion by a delivering to the Administrative Agent an irrevocable written notice to the Administrative Agent substantially in the form of Exhibit E-2, appropriately completed B (a “Notice of Conversion”), duly executed by a Responsible Officer of the Borrower and appropriately completed (or shall deliver a signed and completed Notice of Conversion by facsimile or by e-mail containing a PDF of Loan Type”such signed and completed Notice of Conversion), which specifies, among other things: (ai) the Revolving Loans, or portion thereof, The Borrowing which are is to be converted; (bii) the The Type of Borrowing into which such Revolving Loans, or portion thereof, are Borrowing is to be converted; (ciii) if If such Revolving Loans are Borrowing is to be converted into a Borrowing consisting of LIBOR Loans, the initial Interest Period selected by the Borrower for such LIBOR Loans in accordance with Section 2.1.2.4(b2.01(f), as applicable; and (div) the The date of the requested conversion, which shall be a Banking Business Day. The Borrower shall give each Notice of Conversion of Loan Type to the Administrative Agent so as to provide not later than 10:00 a.m. at least three (3) Business Days before the applicable Minimum Notice Perioddate of the requested conversion of a Base Rate Loan into a LIBOR Loan or 10:00 a.m. on the date of the requested conversion of a LIBOR Loan into a Base Rate Loan. Any Notice of Conversion of Loan Type may be modified or revoked by Borrower through the Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocable. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy to Administrative Agent at the office or to the telecopy number and as otherwise specified in Section 8.1; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopy. The Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan Typerelating to Loans.

Appears in 1 contract

Samples: Credit Agreement (Netflix Inc)

Conversion of Loans. Borrower may convert any Revolving Loan from one Type of Revolving Loan to another Type; provided, however, that (i) any conversion of LIBOR Loans into Base Rate Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR Loans, and (ii) Loans shall be converted only in amounts of $5,000,000 10,000,000 and increments of $1,000,000 in excess thereof. Borrower shall request such a conversion by a written notice to Administrative Agent in the form of Exhibit E-2C-2, appropriately completed (a "Notice of Conversion of Loan Type"), which specifies: (a) the Revolving The Loans, or portion thereof, which are to be converted; (b) the The Type into which such Revolving Loans, or portion thereof, are to be converted; (c) if If such Revolving Loans are to be converted into LIBOR Loans, the initial Interest Period selected by Borrower for such Loans in accordance with Section 2.1.2.4(b); and (d) the The date of the requested conversion, which shall be a Banking Day. Borrower shall give each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least the applicable Minimum Notice Period. Any Notice of Conversion of Loan Type may be modified or revoked by Borrower through the Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocable. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy to Administrative Agent at the office or to the telecopy number and as otherwise specified in Section 8.1; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopy. Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan Type.

Appears in 1 contract

Samples: Credit Agreement (Teco Energy Inc)

Conversion of Loans. Borrower Subject to Section 2.13, the Borrowers may convert any Revolving Loan Loans from one Type of Revolving Loan to another the other Type; provided, however, provided that (i) any conversion of Base Rate Loans into LIBOR Loans shall be in the amount of $50,000 or an integral multiple of $10,000 in excess thereof and any conversion of LIBOR Loans into Base Rate Loans shall be made onin the amount of $100,000 or an integral multiple of $10,000 in excess thereof; provided, further, that (i) no Base Rate Loan may be converted into a LIBOR Loan after the occurrence and only on, during the first continuance of an Event of Default and (ii) any conversion of a LIBOR Loan on any day after other than the last day of an the Interest Period for such LIBOR Loans, and (ii) Loans therefor shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereofsubject to the payments required under Section 2.13. Borrower The Borrowers shall request such a conversion by a delivering to the Administrative Agent an irrevocable written notice to the Administrative Agent substantially in the form of Exhibit E-2, appropriately completed B (a “Notice of Conversion Conversion”), duly executed by a Responsible Officer of Loan Type”the Borrowers and appropriately completed (or shall notify the Administrative Agent by telephone, to be promptly confirmed by the delivery to the Administrative Agent of a signed Notice of Conversion, which may be delivered by facsimile or e-mail), which specifies, among other things: (ai) the Revolving Loans, or portion thereof, The Loans to be converted; (ii) The Type of Loans into which such Loans are to be converted; (biii) the Type into which If such Revolving Loans, or portion thereof, are to be converted; (c) if such Revolving Loans are to be converted into LIBOR Loans, the initial Interest Period selected by Borrower the Borrowers for such LIBOR Loans in accordance with Section 2.1.2.4(b2.01(f), as applicable; and (div) the The date of the requested conversion, which shall be a Banking Business Day. Borrower The Borrowers shall give each Notice of Conversion of Loan Type to the Administrative Agent so as to provide not later than 11:00 a.m. at least three (3) Business Days before the applicable Minimum Notice Period. Any Notice date of Conversion the requested conversion of a Base Rate Loan Type may be modified into a LIBOR Loan or revoked by Borrower through at least one (1) Business Day before the Banking Day prior to date of the Minimum Notice Period, and shall thereafter be irrevocablerequested conversion of a LIBOR Loan into a Base Rate Loan. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy facsimile or by e-mail containing a PDF of such signed and completed Notice of Conversion to the Administrative Agent at the office or to the telecopy facsimile number or e-mail address and as otherwise during the hours specified in Section 8.18.01; provided, however, that Borrower that, if requested by the Administrative Agent, the Borrowers shall promptly deliver to the Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopyfacsimile or e-mail. The Administrative Agent shall promptly notify each Revolving Lender of the contents of each Notice of Conversion relating to Revolving Loans and each Term Lender of the contents of each Notice of Conversion relating to Term Loans. For the avoidance of doubt, the provisions of this Section 2.01(e) relate to the conversion of the type of interest rate (LIBOR or Base Rate) applicable to the applicable Loans and do not permit the conversion of a Revolving Loan or Term Loan into any other kind of Loan Typeprovided hereunder.

Appears in 1 contract

Samples: Credit Agreement (Monarch Casino & Resort Inc)

Conversion of Loans. Subject to Section 2.13, the Borrower may convert any Revolving Loan Borrowing from one Type of Revolving Loan Borrowing to another the other Type; provided, however, that any conversion shall be in the amount of $100,000 or an integral multiple of $100,000 in excess thereof; provided, further, that (i) no Loan may be converted into a LIBOR Rate Loan after the occurrence and during the continuance of an Event of Default and (ii) any conversion of a LIBOR Loans into Base Rate Loans shall be made on, and only on, the first Loan on any day after other than the last day of an the Interest Period for such LIBOR Loans, and (ii) Loans therefor shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereofsubject to the payments required under Section 2.13. The Borrower shall request such a conversion by a delivering to the Administrative Agent an irrevocable written notice to the Administrative Agent substantially in the form of Exhibit E-2, appropriately completed B (a “Notice of Conversion Conversion”), duly executed by a Responsible Officer of Loan Type”the Borrower and appropriately completed (or shall notify the Administrative Agent by telephone, to be promptly confirmed by the delivery to the Administrative Agent of a signed Notice of Conversion, which may be delivered by facsimile or e-mail), which specifies, among other things: (ai) the The Revolving Loans, or portion thereof, Loan Borrowing which are is to be converted; (bii) the The Type of Revolving Loan Borrowing into which such Revolving Loans, or portion thereof, are Loan Borrowing is to be converted; (ciii) if If such Revolving Loans are Loan Borrowing is to be converted into a Revolving Loan Borrowing consisting of LIBOR Rate Loans, the initial Interest Period selected by the Borrower for such LIBOR Rate Loans in accordance with Section 2.1.2.4(b2.01(f), as applicable; and (div) the The date of the requested conversion, which shall be a Banking Business Day. The Borrower shall give each Notice of Conversion of Loan Type to the Administrative Agent so as to provide not later than 11:00 a.m. at least three (3) Business Days before the applicable Minimum Notice Period. Any Notice date of Conversion the requested conversion of a Base Rate Loan Type may be modified or revoked by Borrower through LIBOR Market Index Rate Loan into a LIBOR Rate Loan or at least one (1) Business Day before the Banking Day prior to date of the Minimum Notice Period, and shall thereafter be irrevocablerequested conversion of (x) a Base Rate Loan into a LIBOR Market Index Rate Loan or vice versa or (y) a LIBOR Rate Loan into a Base Rate Loan or LIBOR Market Index Loan . Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy facsimile or by e-mail containing a PDF of such signed and completed Notice of Conversion to the Administrative Agent at the office or to the telecopy facsimile number or e-mail address and as otherwise during the hours specified in Section 8.18.01; provided, however, that that, if requested by the Administrative Agent, the Borrower shall promptly deliver to the Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopyfacsimile or e-mail. The Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan Typerelating to Revolving Loans.

Appears in 1 contract

Samples: Credit Agreement (IPC the Hospitalist Company, Inc.)

Conversion of Loans. Borrower may convert any Revolving Loan Borrowing from one Type of Revolving Loan Borrowing to another Type; providedPROVIDED, howeverHOWEVER, that (i) any conversion of a Borrowing consisting of LIBOR Loans into a Borrowing consisting of Base Rate Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR Loans, and (ii) Loans shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereof. Borrower shall request such a conversion by a an irrevocable written notice to Administrative Agent in the form of Exhibit E-2EXHIBIT B, appropriately completed (a “Notice of Conversion of Loan Type”"NOTICE OF CONVERSION"), which specifies, among other things: (ai) the Revolving Loans, or portion thereof, The Borrowing which are is to be converted; (bii) the The Type of Borrowing into which such Revolving Loans, or portion thereof, are Borrowing is to be converted; (ciii) if If such Revolving Loans are Borrowing is to be converted into a Borrowing consisting of LIBOR Loans, the initial Interest Period selected by Borrower for such Loans in accordance with Section 2.1.2.4(bSUBPARAGRAPH 2.01(e); and (div) the The date of the requested conversion, which shall be a Banking Business Day. Borrower shall give each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least three (3) Business Days before the applicable Minimum Notice Period. Any Notice date of Conversion the requested conversion in the case of Loan Type may be modified or revoked by Borrower through a conversion into a Borrowing consisting of LIBOR Loans and at least one (1) Business Day before the Banking Day prior to date of the Minimum Notice Period, and shall thereafter be irrevocablerequested conversion in the case of a conversion into a Borrowing consisting of Base Rate Loans. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy facsimile to Administrative Agent at the office or to the telecopy facsimile number and as otherwise during the hours specified in Section 8.1PARAGRAPH 8.01; providedPROVIDED, howeverHOWEVER, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopyfacsimile. Administrative Agent shall promptly (but in any event no later than 5:00 p.m., San Francisco time, on the Business Day Agent receives such notice under PARAGRAPH 8.01) notify each Lender of the contents of each Notice of Conversion of Loan TypeConversion.

Appears in 1 contract

Samples: Credit Agreement (Lam Research Corp)

Conversion of Loans. Borrower may convert any Revolving Loan from one Type of Revolving Loan to another Type; provided, however, that (i) any conversion of LIBOR SOFR Loans into Base Rate Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR SOFR Loans, and (ii) Loans shall be converted only in amounts of $5,000,000 and increments of $1,000,000 in excess thereof. Borrower shall request such a conversion by a written notice to Administrative Agent in the form of Exhibit E-2, appropriately completed (a “Notice of Conversion of Loan Type”), which specifies: (a) the Revolving Loans, or portion thereof, which are to be converted; (b) the Type into which such Revolving Loans, or portion thereof, are to be converted; (c) if such Revolving Loans are to be converted into LIBOR SOFR Loans, the initial Interest Period selected by Borrower for such Loans in accordance with Section 2.1.2.4(b); and (d) the date of the requested conversion, which shall be a Banking Day. Borrower shall give each Notice of Conversion of Loan Type to Administrative Agent so as to provide at least the applicable Minimum Notice Period. Any Notice of Conversion of Loan Type may be modified or revoked by Borrower through the Banking Day prior to the Minimum Notice Period, and shall thereafter be irrevocable. Each Notice of Conversion of Loan Type shall be delivered by first-class mail or telecopy to Administrative Agent at the office or to the telecopy number and as otherwise specified in Section 8.1; provided, however, that Borrower shall promptly deliver to Administrative Agent the original of any Notice of Conversion of Loan Type initially delivered by telecopy. Administrative Agent shall promptly notify each Lender of the contents of each Notice of Conversion of Loan Type.

Appears in 1 contract

Samples: Credit Agreement (Tampa Electric Co)

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