Common use of Conversion to Different Type of Loan Clause in Contracts

Conversion to Different Type of Loan. The Borrower may elect from time to time to convert any outstanding Term Loan to a Term Loan of another Type, provided that (a) with respect to any such conversion of a Eurodollar Rate Loan to a Base Rate Loan, the Borrower shall give the Administrative Agent at least three (3) Business Days prior written notice of such election and the proposed Interest Period (and the Administrative Agent shall promptly deliver a copy to each Lender) and, except as set forth in Section 5.4 or Section 5.5 hereof, such conversion shall only be permitted if the Administrative Agent and all of the Lenders consent in their sole discretion; (b) each Base Rate Loan shall automatically convert to a Eurodollar Rate Loan at the end of the applicable Interest Period for such Base Rate Loan, unless the Borrower and the Administrative Agent otherwise mutually agree that such Base Rate Loan shall continue as a Base Rate Loan; and (c) with respect to any proposed conversion of a Eurodollar Rate Loan into a Base Rate Loan, such conversion shall only be made on the last day of the Interest Period with respect thereto. On the date on which such conversion is being made each Lender shall take such action as is necessary to transfer its Commitment Percentage, as the case may be, of such Term Loans to its Domestic Lending Office or its Eurodollar Lending Office, as the case may be. All or any part of outstanding Term Loans of any Type may be converted into a Term Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of at least $500,000, in the case of conversion to Base Rate Loans, and $1,000,000 in the case of conversion to Eurodollar Rate Loans. Each Conversion Request relating to the conversion of a Term Loan to a Eurodollar Rate Loan shall be irrevocable by the Borrower.

Appears in 1 contract

Samples: Term Loan Agreement (CAI International, Inc.)

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Conversion to Different Type of Loan. The applicable Borrower may elect from time to time to convert any outstanding Term Loan to a Term Loan of another Type, provided that (a) with respect to any such conversion of a Eurodollar Eurocurrency Rate Loan denominated in Dollars to a Base Rate Loan, the applicable Borrower shall give the Administrative Agent written notice (including notice given via an electronic platform or electronic transmission system approved by the Administrative Agent) no later than 11:00 a. m. (Eastern time) at least three (3) Eurocurrency Business Days prior written notice of to such election and the proposed Interest Period (and the Administrative Agent shall promptly deliver a copy to each Lender) and, except as set forth in Section 5.4 or Section 5.5 hereof, such conversion shall only be permitted if the Administrative Agent and all of the Lenders consent in their sole discretionelection; (b) each with respect to any such conversion of a Base Rate Loan shall automatically convert to a Eurodollar Eurocurrency Rate Loan at the end of denominated in Dollars, the applicable Interest Period for such Base Rate Loan, unless the Borrower and shall give the Administrative Agent otherwise mutually agree that written notice (including notice given via an electronic platform or electronic transmission system approved by the Administrative Agent) no later than 11:00 a.m. (Eastern time) at least three (3) Eurocurrency Business Days prior to such Base Rate Loan shall continue as a Base Rate Loanelection; and (c) with respect to any proposed such conversion of a Eurodollar Eurocurrency Rate Loan denominated in Alternative Currencies, the applicable Borrower shall give the Administrative Agent written notice (including notice given via an electronic platform or electronic transmission system approved by the Administrative Agent) no later than 11:00 a.m. (Eastern time) at least four (4) Eurocurrency Business Days (or five (5) Eurocurrency Business Days in the case of a Special Notice Currency) prior to such election; (d) with respect to any such conversion of a Eurocurrency Rate Loan into a Base Rate Loan, such conversion shall only be made on the last day of the Interest Period with respect theretothereto and (e) no Loan may be converted into a Eurocurrency Rate Loan when any Default or Event of Default has occurred and is continuing. On the date on which such conversion is being made each Lender shall take such action as is necessary to transfer its Commitment Percentage, as the case may be, Percentage of such Term Loans to its Domestic Lending Office or its Eurodollar Eurocurrency Lending Office, as the case may be. All or any part of outstanding Term Loans of any Type may be converted into a Term Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of at least $500,000, 500,000 or a whole multiple of $100,000 in the case of conversion to Base Rate Loans, and $1,000,000 in the case of conversion to Eurodollar Rate Loansexcess thereof. Each Conversion Request relating to the conversion of a Term Loan to a Eurodollar Eurocurrency Rate Loan shall be irrevocable by the BorrowerBorrowers. No Loan may be converted into a Loan denominated in a different currency, but instead must be prepaid in the original currency of such Loan and reborrowed in the other currency.

Appears in 1 contract

Samples: Senior Unsecured Revolving Credit Agreement (Barnes Group Inc)

Conversion to Different Type of Loan. The Borrower may elect from time to time to convert any outstanding Term Loan to a Term Loan of another Type, provided that (a) with respect to any such conversion of a Eurodollar Rate Loan to a Base Rate Loan, the Borrower shall give the Administrative Agent at least three one (31) Business Days Day's prior written notice of such election and the proposed Interest Period (and the Administrative Agent shall promptly deliver a copy to each Lender) and, except as set forth in Section 5.4 or Section 5.5 hereof, such conversion shall only be permitted if the Administrative Agent and all of the Lenders consent in their sole discretionelection; (b) each with respect to any such conversion of a Base Rate Loan shall automatically convert to a Eurodollar Rate Loan at the end of the applicable Interest Period for such Base Rate Loan, unless the Borrower and shall give the Administrative Agent otherwise mutually agree that at least two (2) Eurodollar Business Days' prior written notice of such Base Rate Loan shall continue as a Base Rate Loanelection; and (c) with respect to any proposed such conversion of a Eurodollar Rate Loan into a Base Rate Loan, such conversion shall only be made on the last day of the Interest Period with respect thereto, and (d) no Loan may be converted into a Eurodollar Rate Loan when any Default or Event of Default has occurred and is continuing. On the date on which such conversion is being made each Lender Bank shall take such action action, if any, as is necessary to transfer its Commitment Percentage, as the case may be, Percentage of such Term Loans to its Domestic Lending Office or its Eurodollar Lending Office, as the case may be. All or any part of outstanding Term Loans of any Type (other than Swing Line Loans which shall only be Base Rate Loans) may be converted into a Term Loan of another Type as provided herein, provided that (y) any partial conversion of any Loan to a Base Rate Loan shall be in an aggregate principal amount of at least $500,000, in the case 50,000.00 or an integral multiple thereof and (z) any partial conversion of conversion any Loan to Base Rate Loans, and $1,000,000 in the case of conversion to a Eurodollar Rate LoansLoan shall be in an aggregate principal amount of $250,000.00 or a whole multiple of $50,000.00 in excess thereof. Each Conversion Request relating to the conversion of a Term Loan to a Eurodollar Rate Loan shall be irrevocable by the Borrower.. Continuation of Type of Loan. Any Loan of any Type may be continued as a Loan of the same Type upon the expiration of an Interest Period with respect thereto by compliance by the Borrower with the notice provisions contained in Section 7.4.1; provided that no Eurodollar Rate Loan may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Base Rate Loan on the last day of the first Interest Period relating thereto ending during the continuance of any Default or Event of Default of which officers of the 1dministrative Agent active upon the Borrower's account have actual knowledge. In the event that the Borrower fails to provide any such notice with respect to the continuation of any Eurodollar Rate Loan as such, then such

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Gold Consignment Agreement (Marks Bros Jewelers Inc)

Conversion to Different Type of Loan. The Borrower Borrowers may elect from time to time to convert any outstanding Term Loan to a Term Loan of another Type, provided that (ai) with respect to any such conversion of a Loan to a Base Rate Loan, the Borrowers shall give the Agent, no later than 2:00 p.m. (Boston time) on the proposed date of such conversion, prior written notice of such election (the Agent agreeing to notify the Lenders promptly of the giving of any such notice by the Borrowers); (ii) with respect to any such conversion of a Base Rate Loan to a Eurodollar Rate Loan, the Borrowers shall give the Agent, no later than 10:00 a.m. (Boston time) at least three (3) Eurodollar Business Days prior to the proposed date of such conversion, written notice of such election (the Agent agreeing to notify the Lenders promptly of the giving of any such notice by the Borrowers); (iii) with respect to any such conversion of a Eurodollar Rate Loan to into a Base Rate LoanLoan of another Type, the Borrower shall give the Administrative Agent at least three (3) Business Days prior written notice of such election and the proposed Interest Period (and the Administrative Agent shall promptly deliver a copy to each Lender) and, except as set forth in Section 5.4 or Section 5.5 hereof, any such conversion shall only be permitted if the Administrative Agent and all of the Lenders consent in their sole discretion; (b) each Base Rate Loan shall automatically convert to a Eurodollar Rate Loan at the end of the applicable Interest Period for such Base Rate Loan, unless the Borrower and the Administrative Agent otherwise mutually agree that such Base Rate Loan shall continue as a Base Rate Loan; and (c) with respect to any proposed conversion of a Eurodollar Rate Loan into a Base Rate Loan, such conversion shall only be which is made on a day other than the last day of the Interest Period with respect theretothereto shall obligate the Borrowers to indemnify the Lenders for any loss, cost or expense associated therewith in accordance with the provisions of Section 5.11 hereof, and (iv) no Loan may be converted into a Eurodollar Rate Loan 29 -23- when any Default or Event of Default has occurred and is continuing. On the date on which such conversion is being made each Lender shall take such action as is necessary to transfer its Commitment Percentage, as the case may be, Percentage of such Term Loans to its Domestic Lending Office or its Eurodollar Lending Office, as the case may be. All or any part of outstanding Term Loans of any Type may be converted into a Term Loan of another Type as provided herein, provided that any partial conversion of a Eurodollar Rate Loan to a Base Rate Loan shall be in an aggregate principal amount of at least $500,000100,000, in the case and any partial conversion of conversion to a Base Rate Loans, and Loan to a Eurodollar Rate Loan shall be in an aggregate principal amount of at least $1,000,000 or an integral multiple of $500,000 in the case of conversion to Eurodollar Rate Loansexcess thereof. Each Conversion Request relating to the conversion of a Term Loan to a Eurodollar Rate Loan shall be irrevocable by the BorrowerBorrowers.

Appears in 1 contract

Samples: Revolving Credit Agreement (Zale Corp)

Conversion to Different Type of Loan. The applicable Borrower may elect from time to time to convert any outstanding Term Loan to a Term Loan of another Type, provided that (a) with respect to any such conversion of a Eurodollar Eurocurrency Rate Loan denominated in Dollars to a Base Rate Loan, the applicable Borrower shall give the Administrative Agent written notice no later than 11:00 a.m. (Eastern time) at least three (3) Eurocurrency Business Days prior written notice of to such election and the proposed Interest Period (and the Administrative Agent shall promptly deliver a copy to each Lender) and, except as set forth in Section 5.4 or Section 5.5 hereof, such conversion shall only be permitted if the Administrative Agent and all of the Lenders consent in their sole discretionelection; (b) each with respect to any such conversion of a Base Rate Loan shall automatically convert to a Eurodollar Eurocurrency Rate Loan at the end of denominated in Dollars, the applicable Interest Period for such Base Rate Loan, unless the Borrower and shall give the Administrative Agent otherwise mutually agree that written notice no later than 11:00 a.m. (Eastern time) at least three (3) Eurocurrency Business Days prior to such Base Rate Loan shall continue as a Base Rate Loanelection; and (c) with respect to any proposed such conversion of a Eurodollar Eurocurrency Rate Loan denominated in Alternative Currencies, the applicable Borrower shall give the Administrative Agent written notice no later than 11:00 a.m. (Eastern time) at least four (4) Eurocurrency Business Days (or five Eurocurrency Business Days in the case of a Special Notice Currency) prior to such election; (d) with respect to any such conversion of a Eurocurrency Rate Loan into a Base Rate Loan, such conversion shall only be made on the last day of the Interest Period with respect theretothereto and (e) no Loan may be converted into a Eurocurrency Rate Loan when any Default or Event of Default has occurred and is continuing. On the date on which such conversion is being made each Lender shall take such action as is necessary to transfer its Commitment Percentage, as the case may be, Percentage of such Term Loans to its Domestic Lending Office or its Eurodollar Eurocurrency Lending Office, as the case may be. All or any part of outstanding Term Loans of any Type may be converted into a Term Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of at least $500,000, in the case of conversion to Base Rate Loans, and $1,000,000 in the case of conversion to Eurodollar Rate Loans. Each Conversion Request relating to the conversion of a Term Loan to a Eurodollar Rate Loan shall be irrevocable by the Borrower.into

Appears in 1 contract

Samples: Senior Unsecured Revolving Credit Agreement (Barnes Group Inc)

Conversion to Different Type of Loan. The Borrower may elect from time to time to convert any outstanding Term Loan to a Term Loan of another Type, provided that (a) with respect to any such conversion of a Eurodollar Rate Loan to a Base Rate Loan, the Borrower shall give the Administrative Applicable Agent at least three one (31) Business Days prior written notice of such election and the proposed Interest Period (and the Administrative Agent shall promptly deliver a copy to each Lender) and, except as set forth in Section 5.4 or Section 5.5 hereof, such conversion shall only be permitted if the Administrative Agent and all of the Lenders consent in their sole discretionelection; (b) each with respect to any such conversion of a Base Rate Loan shall automatically convert to a Eurodollar Rate Loan at the end of the applicable Interest Period for such Base Rate Loan, unless the Borrower and shall give the Administrative Applicable Agent otherwise mutually agree that at least two (2) Eurodollar Business Days prior written notice of such Base Rate Loan shall continue as a Base Rate Loanelection; and (c) with respect to any proposed such conversion of a Eurodollar Rate Loan into a Base Rate Loan, such conversion shall only be made on the last day of the Interest Period with respect thereto, and (d) no Loan may be converted into a Eurodollar Rate Loan when any Default or Event of Default has occurred and is continuing. On the date on which such conversion is being made each Lender Applicable Bank shall take such action action, if any, as is necessary to transfer its Commitment Percentage or Gold Commitment Percentage, as the case may be, of such Term Loans to its Domestic Lending Office or its Eurodollar Lending Office, as the case may be. All or any part of outstanding Term Loans of any Type may be converted into a Term Loan of another Type as provided herein, provided that (y) any partial conversion of any Loan to a Base Rate Loan shall be in an aggregate principal amount of at least $500,000, in the case 500,000.00 or an integral multiple thereof and (z) any partial conversion of conversion any Loan to Base Rate Loans, and $1,000,000 in the case of conversion to a Eurodollar Rate LoansLoan shall be in an aggregate principal amount of $1,000,000.00 or a whole multiple of $500,000.00 in excess thereof. Each Conversion Request relating to the conversion of a Term Loan to a Eurodollar Rate Loan shall be irrevocable by the Borrower.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Gold Consignment Agreement (Marks Bros Jewelers Inc)

Conversion to Different Type of Loan. The applicable Borrower or, as the case may be, Borrowers may elect from time to time to convert any outstanding Term Loan (other than a Swingline Loan) to a Term Loan of another Type, provided that (a) with respect to any such conversion of a Eurodollar Eurocurrency Rate Loan to a Base Rate Loan, the applicable Borrower or, as the case may be, Borrowers shall give the Administrative Agent at least three (3) Business Days prior written notice of such election and the proposed Interest Period (and the Administrative Agent shall promptly deliver a copy to each Lender) and, except as set forth in Section 5.4 or Section 5.5 hereof, such conversion shall only be permitted if the Administrative Agent and all of the Lenders consent in their sole discretionelection; (b) each with respect to any such conversion of a Base Rate Loan shall automatically convert to a Eurodollar Rate Loan at the end of the applicable Interest Period for such Base Eurocurrency Rate Loan, unless the applicable Borrower and or, as the case may be, Borrowers shall give the Administrative Agent otherwise mutually agree that at least four (4) Business Days prior written notice of such Base Rate Loan shall continue as a Base Rate Loanelection; and (c) with respect to any proposed such conversion of a Eurodollar Eurocurrency Rate Loan into a Base Rate Loan, such conversion shall only be made on the last day of the Interest Period with respect theretothereto and (d) no such Loan may be converted into a Eurocurrency Rate Loan when any Default or Event of Default has occurred and is continuing. On the date on which such conversion is being made each Lender shall take such action as is necessary to transfer its Commitment Percentage, as the case may be, Percentage of such Term Loans to its Domestic Lending Office or its Eurodollar Eurocurrency Lending Office, as the case may be. All or any part of outstanding Term Loans (other than Swingline Loans) of any Type may be converted into a Term Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of at least $500,000, in the case 5,000,000 or a multiple of conversion to Base Rate Loans, and $1,000,000 in the case of conversion to Eurodollar Rate Loansexcess thereof. Each Conversion Request relating to the conversion of a Term Loan (other than a Swingline Loan) to a Eurodollar Eurocurrency Rate Loan shall be irrevocable by the BorrowerBorrowers.

Appears in 1 contract

Samples: Revolving Credit Agreement (Borders Group Inc)

Conversion to Different Type of Loan. The Borrower may elect from time to time to convert any outstanding Term Loan to a Term Loan of another Type, provided that (a) with respect to any such conversion of a Eurodollar Rate Loan to a Base Rate Loan, the Borrower shall give the Administrative Agent at least three (3) Business Days prior written notice of such election and the proposed Interest Period (and the Administrative Agent shall promptly deliver a copy to each Lender) and, except as set forth in Section 5.4 or Section 5.5 hereof, such conversion shall only be permitted if the Administrative Agent and all of the Lenders consent in their sole discretion; (b) each Base Rate Loan shall automatically convert to a Eurodollar Rate Loan at the end of the applicable Interest Period for such Base Rate Loan, unless the Borrower and the Administrative Agent otherwise mutually agree that such Base Rate Loan shall continue as a Base Rate Loan; and (c) with respect to any proposed conversion of a Eurodollar Rate Loan into a Base Rate Loan, such conversion shall only be made on the last day of the Interest Period with respect thereto. On the date on which such conversion is being made each Lender shall take such action as is necessary to transfer its Commitment Percentage, as the case may be, of such Term Loans to its Domestic Lending Office or its Eurodollar Lending Office, as the case may be. All or any part of outstanding Term Loans of any Type may be converted into a Term Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of at least $500,000, in the case of conversion to Base Rate Loans, and $1,000,000 in the case of conversion to Eurodollar Rate Loans. Each Conversion Request relating to the conversion of a Term Loan to a Eurodollar Rate Loan shall be irrevocable by the Borrower.

Appears in 1 contract

Samples: Term Loan Agreement (CAI International, Inc.)

Conversion to Different Type of Loan. The applicable Borrower may elect from time to time to convert any outstanding Term Loan to a Term Loan of another Type, provided that (a) with respect to any such conversion of a Eurodollar Rate SOFR Loan to a Base Rate Loan, a Base Rate Loan to a SOFR Loan, a Term SOFR Loan to a Daily SOFR Loan, or a Daily SOFR Loan to a Term SOFR Loan, the applicable Borrower shall give the Administrative Agent written notice (including notice given via an electronic platform or electronic transmission system approved by the Administrative Agent) no later than 11:00 a.m. (Eastern time) at least three (3) Business Days prior written notice of to such election and the proposed Interest Period (and the Administrative Agent shall promptly deliver a copy to each Lender) and, except as set forth in Section 5.4 or Section 5.5 hereof, such conversion shall only be permitted if the Administrative Agent and all of the Lenders consent in their sole discretionelection; (b) each Base Rate Loan shall automatically convert to a Eurodollar Rate Loan at the end of the applicable Interest Period for such Base Rate Loan, unless the Borrower and the Administrative Agent otherwise mutually agree that such Base Rate Loan shall continue as a Base Rate Loan[reserved]; and (c) with respect to any proposed such conversion of an Alternative Currency Loan, the applicable Borrower shall give the Administrative Agent written notice (including notice given via an electronic platform or electronic transmission system approved by the Administrative Agent) no later than 11:00 a.m. (Eastern time) at least four (4) Business Days (or five (5) Business Days in the case of a Special Notice Currency) prior to such election; (d) with respect to any such conversion of a Eurodollar Term SOFR Loan or an Alternative Currency Term Rate Loan into a Base Rate Loan, such conversion shall only be made on the last day of the Interest Period with respect theretothereto and (e) no Loan may be converted into a SOFR Loan, Alternative Currency Daily Rate Loan, or an Alternative Currency Term Rate Loan when any Default or Event of Default has occurred and is continuing. On the date on which such conversion is being made each Lender shall take such action as is necessary to transfer its Commitment Percentage, as the case may be, Percentage of such Term Loans to its Domestic Lending Office or its Eurodollar Lending Office, as the case may be. All or any part of outstanding Term Loans of any Type may be converted into a Term Loan of another Type as provided herein, provided provided, that any partial conversion shall be in an aggregate principal amount of at least $500,000, 500,000 or a whole multiple of $100,000 in the case of conversion to Base Rate Loans, and $1,000,000 in the case of conversion to Eurodollar Rate Loansexcess thereof. Each Conversion Request relating to the conversion of a Term Loan (other than a conversion to a Eurodollar Base Rate Loan Loan) shall be irrevocable by the BorrowerBorrowers. No Loan may be converted into a Loan denominated in a different currency, but instead must be prepaid in the original currency of such Loan and reborrowed in the other currency.

Appears in 1 contract

Samples: Credit Agreement (Barnes Group Inc)

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Conversion to Different Type of Loan. The Borrower Domestic Borrowers may elect from time to time to convert any outstanding Term U.S. Loan to a Term U.S. Loan of another Type, provided that (ai) with respect to any such conversion of a U.S. Loan to a Base Rate Loan, the Domestic Borrowers shall give the Agent, no later than 2:00 p.m. (Boston time) on the proposed date of such conversion, prior written notice of such election (the Agent agreeing to notify the U.S. Lenders promptly of the giving of any such notice by the Domestic Borrowers); (ii) with respect to any such conversion of a Base Rate Loan to a Eurodollar Rate Loan, the Domestic Borrowers shall give the Agent, no later than 10:00 a.m. (Boston time) at least three (3) Eurodollar Business Days prior to the proposed date of such conversion, written notice of such election (the Agent agreeing to notify the U.S. Lenders promptly of the giving of any such notice by the Domestic Borrowers); (iii) with respect to any such conversion of a Eurodollar Rate Loan to into a Base Rate LoanU.S. Loan of another Type, the Borrower shall give the Administrative Agent at least three (3) Business Days prior written notice of such election and the proposed Interest Period (and the Administrative Agent shall promptly deliver a copy to each Lender) and, except as set forth in Section 5.4 or Section 5.5 hereof, any such conversion shall only be permitted if the Administrative Agent and all of the Lenders consent in their sole discretion; (b) each Base Rate Loan shall automatically convert to a Eurodollar Rate Loan at the end of the applicable Interest Period for such Base Rate Loan, unless the Borrower and the Administrative Agent otherwise mutually agree that such Base Rate Loan shall continue as a Base Rate Loan; and (c) with respect to any proposed conversion of a Eurodollar Rate Loan into a Base Rate Loan, such conversion shall only be which is made on a day other than the last day of the Interest Period with respect theretothereto shall obligate the Domestic Borrowers to indemnify the U.S. Lenders for any loss, cost or expense associated therewith in accordance with the provisions of Section 7.11 hereof, and (iv) no U.S. Loan may be converted into a Eurodollar Rate Loan when any Default or Event of Default has occurred and is continuing. On the date on which such conversion is being made each U.S. Lender shall take such action as is necessary to transfer its U.S. Commitment Percentage, as the case may be, Percentage of such Term U.S. Loans to its Domestic Lending Office or its Eurodollar Lending Office, as the case may be. All or any part of outstanding Term U.S. Loans of any Type may be converted into a Term U.S. Loan of another Type as provided herein, provided that any partial conversion of a Eurodollar Rate Loan to a Base Rate Loan shall be in an aggregate principal amount of at least $500,000100,000, in the case and any partial conversion of conversion to a Base Rate Loans, and Loan to a Eurodollar Rate Loan shall be in an aggregate principal amount of at least $1,000,000 or an integral multiple of $500,000 in the case of conversion to Eurodollar Rate Loansexcess thereof. Each Conversion Request relating to the conversion of a Term U.S. Loan to a Eurodollar Rate Loan shall be irrevocable by the BorrowerDomestic Borrowers.

Appears in 1 contract

Samples: Revolving Credit Agreement (Zale Corp)

Conversion to Different Type of Loan. The Borrower Borrowers may elect from time to time to convert any outstanding Term Loan to a Term Loan of another Type, provided that (a) with respect to any such conversion of a Eurodollar Rate Loan to a Base Rate Loan, the Borrower Borrowers shall give the Administrative Agent at least one (1) Business Day prior written notice of such election; (b) with respect to any such conversion of a Base Rate Loan to a Eurodollar Rate Loan, the Borrowers shall give the Agent at least three (3) Eurodollar Business Days prior written notice of such election and the proposed Interest Period (and the Administrative Agent shall promptly deliver a copy to each Lender) and, except as set forth in Section 5.4 or Section 5.5 hereof, such conversion shall only be permitted if the Administrative Agent and all of the Lenders consent in their sole discretionelection; (b) each Base Rate Loan shall automatically convert to a Eurodollar Rate Loan at the end of the applicable Interest Period for such Base Rate Loan, unless the Borrower and the Administrative Agent otherwise mutually agree that such Base Rate Loan shall continue as a Base Rate Loan; and (c) with respect to any proposed such conversion of a Eurodollar Rate Loan into a Base Rate Loan, such conversion shall only be made on the last day of the Interest Period with respect thereto, (d) no Loan may be converted into a Eurodollar Rate Loan when any Event of Default has occurred and is continuing and (e) the aggregate outstanding amount of Loans which, when added to the Maximum Drawing Amount and all Unpaid Reimbursement Obligation, are in excess of Borrowing Base A may not be converted into Eurodollar Rate Loans. On the date on which such conversion is being made each Lender Bank shall take such action as is necessary to transfer its Commitment Percentage, as the case may be, Percentage of such Term Loans to its Domestic Lending Office or its Eurodollar Lending Office, as the case may be. All Except as provided in clause (e) above, all or any part of outstanding Term Loans of any Type may be converted into a Term Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of at least $500,000, in the case of conversion to Base Rate Loans, and $1,000,000 in the case of conversion to Eurodollar Rate Loansor a whole multiple thereof. Each Conversion Request relating to the conversion of a Term Loan to a Eurodollar Rate Loan shall be irrevocable by the BorrowerBorrowers.

Appears in 1 contract

Samples: Revolving Credit Agreement (Terex Corp)

Conversion to Different Type of Loan. The Borrower ------------------------------------ may elect from time to time to convert any outstanding Term Loan to a Term Loan of another Type, provided that (ai) with respect to any such conversion of a Eurodollar Rate Loan to a Base Rate Loan, the Borrower shall give the Administrative Agent at least three one (31) Business Day prior written notice of such election; (ii) with respect to any such conversion of a Base Rate Loan to a Eurodollar Rate Loan, the Borrower shall give the Agent at least two (2) Eurodollar Business Days prior written notice of such election and the proposed Interest Period (and the Administrative Agent shall promptly deliver a copy to each Lender) and, except as set forth in Section 5.4 or Section 5.5 hereof, such conversion shall only be permitted if the Administrative Agent and all of the Lenders consent in their sole discretionelection; (b) each Base Rate Loan shall automatically convert to a Eurodollar Rate Loan at the end of the applicable Interest Period for such Base Rate Loan, unless the Borrower and the Administrative Agent otherwise mutually agree that such Base Rate Loan shall continue as a Base Rate Loan; and (ciii) with respect to any proposed such conversion of a Eurodollar Rate Loan into a Base Rate Loan, such conversion shall only be made on the last day of the Interest Period with respect thereto; (iv) no Base Rate Loan may be converted into a Eurodollar Rate Loan when any Default or Event of Default has occurred and is continuing; and (v) no more than five (5) Eurodollar Rate Loans having different Interest Periods may be outstanding at any time. On the date on which such conversion is being made each Lender Bank shall take such action as is necessary to transfer its Commitment Percentage, as the case may be, Percentage of such Term Loans to its Domestic Lending Office or its Eurodollar Lending Office, as the case may be. All or any part of outstanding Term Loans of any Type may be converted into a Term Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of at least $500,000, in the case of conversion to Base Rate Loans, and $1,000,000 in the case of conversion to Eurodollar Rate Loans500,000 or a whole multiple thereof. Each Conversion Request relating to the conversion of a Term Loan to a Eurodollar Rate Loan shall be irrevocable by the Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Genesee & Wyoming Inc)

Conversion to Different Type of Loan. The Borrower may elect from time to time to convert any of its outstanding Term Loan Loans to a Term Loan of another Type, provided that (ai) with respect to any such conversion of a Eurodollar Eurocurrency Rate Loan to a Base Rate Loan, the Borrower shall give the Administrative Agent at least one (1) Business Day's prior written notice of such election; (ii) with respect to any such conversion of a Base Rate Loan to a Eurocurrency Rate Loan, the Borrower shall give the Agent at least three (3) Eurocurrency Business Days Days' prior written notice of such election and the proposed Interest Period (and the Administrative Agent shall promptly deliver a copy to each Lender) and, except as set forth in Section 5.4 or Section 5.5 hereof, such conversion shall only be permitted if the Administrative Agent and all of the Lenders consent in their sole discretionelection; (b) each Base Rate Loan shall automatically convert to a Eurodollar Rate Loan at the end of the applicable Interest Period for such Base Rate Loan, unless the Borrower and the Administrative Agent otherwise mutually agree that such Base Rate Loan shall continue as a Base Rate Loan; and (ciii) with respect to any proposed such conversion of a Eurodollar Eurocurrency Rate Loan into a Base Rate Loan, such conversion shall only be made on the last day of the Interest Period with respect thereto. On the date on which such conversion is being made each Lender shall take such action as is necessary to transfer its Commitment Percentage, as the case may be, of such Term Loans to its Domestic Lending Office or its Eurodollar Lending Office, as the case may be. All or any part of outstanding Term Loans of any Type ; (iv) no Loan may be converted into a Term Eurocurrency Rate Loan when any Default or Event of another Type as provided herein, provided that Default has occurred and is continuing; (v) the Borrower may not have more than five (5) Eurocurrency Rate Loans outstanding at any time; (vi) any partial conversion shall be in an aggregate principal amount of at least $500,0001,000,000 or an integral multiple of $500,000 in excess thereof, in the case of provided, that any conversion to Base or from Eurocurrency Rate LoansLoans shall be in such amounts and be made pursuant to such elections so that, and after giving effect thereto, the aggregate principal amount of all Eurocurrency Rate Loans having the same Interest Period shall not be less than $5,000,000 or a whole multiple of $1,000,000 in the case of conversion to Eurodollar Rate Loans. Each excess thereof; and (vii) each Conversion Request relating to the conversion of a Term Base Rate Loan to a Eurodollar Eurocurrency Rate Loan shall be irrevocable by the Borrower.

Appears in 1 contract

Samples: Credit Agreement (Wichita Manufacturing Inc)

Conversion to Different Type of Loan. The Borrower Borrowers may elect from time to time to convert any outstanding Term Loan to a Term Loan of another Type, provided that (ai) with respect to any such conversion of a Loan to a Base Rate Loan, the Borrowers shall give the Agent, no later than 2:00 p.m. (Boston time) on the proposed date of such conversion, prior written notice of such election; (ii) with respect to any such conversion of a Base Rate Loan to a Eurodollar Rate Loan, the Borrowers shall give the Agent, no later than 10:00 a.m. (Boston time) at least three (3) Eurodollar Business Days prior to the proposed date of such conversion, written notice of such election; (iii) with respect to any such conversion of a Eurodollar Rate Loan to a Base Rate Loan, the Borrower shall give the Administrative Agent at least three (3) Business Days prior written notice of such election and the proposed Interest Period (and the Administrative Agent shall promptly deliver a copy to each Lender) and, except as set forth in Section 5.4 or Section 5.5 hereof, such conversion shall only be permitted if the Administrative Agent and all of the Lenders consent in their sole discretion; (b) each Base Rate Loan shall automatically convert to a Eurodollar Rate Loan at the end of the applicable Interest Period for such Base Rate Loan, unless the Borrower and the Administrative Agent otherwise mutually agree that such Base Rate Loan shall continue as a Base Rate Loan; and (c) with respect to any proposed conversion of a Eurodollar Rate Loan into a Base Rate LoanLoan of another Type, such conversion shall only be made on the last day of the Interest Period with respect theretothereto and (iv) no Loan may be converted into a Eurodollar Rate Loan when any Default or Event of Default has occurred and is continuing. On the date on which such conversion is being made each Lender shall take such action as is necessary to transfer its Commitment Percentage, as the case may be, Percentage of such Term Loans to its Domestic Lending Office or its Eurodollar Lending Office, as the case may be. All or any part of outstanding Term Loans of any Type may be converted into a Term Loan of another Type as provided herein, provided that any partial conversion of a Eurodollar Rate Loan to a Base Rate Loan shall be in an aggregate principal amount of at least $500,000100,000, in the case and any partial conversion of conversion to a Base Rate Loans, and Loan to a Eurodollar Rate Loan shall be in an aggregate principal amount of at least $1,000,000 or an integral multiple of $500,000 in the case of conversion to Eurodollar Rate Loansexcess thereof. Each Conversion Request relating to the conversion of a Term Loan to a Eurodollar Rate Loan shall be irrevocable by the BorrowerBorrowers.

Appears in 1 contract

Samples: Revolving Credit Agreement (Zale Corp)

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