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

Conversion to Different Type of Revolving Credit Loan. The Borrowers may elect from time to time to convert any outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type, provided that (a) with respect to any such conversion of a LIBOR Rate Loan to a Base Rate Loan, the Borrowers shall give the Administrative Agent at least three (3) Business Days prior written notice of such election; (b) with respect to any such conversion of a Base Rate Loan to a LIBOR Rate Loan, the Borrowers shall give the Administrative Agent at least three (3) LIBOR Business Days prior written notice of such election; (c) with respect to any such conversion of a LIBOR 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 Revolving Credit Loan may be converted into a LIBOR 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 of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $250,000 or a whole multiple thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Rate Loan shall be irrevocable by the Borrowers.

Appears in 2 contracts

Samples: Credit Agreement (Vermont Pure Holdings LTD/De), Credit Agreement (Vermont Pure Holdings LTD/De)

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Conversion to Different Type of Revolving Credit Loan. The Borrowers Borrower may elect from time to time to convert any outstanding Revolving Credit Loan denominated in Dollars to a Revolving Credit Loan of another TypeType denominated in Dollars, provided that (a) with respect to any such conversion of a LIBOR Rate Revolving Credit Loan to a Base Prime Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three (3) Business Days prior written notice of such election; (b) with respect to any such conversion of a Base Prime Rate Loan to a LIBOR Eurocurrency Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three (3) LIBOR Business Days prior written notice of such election; (c) with respect to any such conversion of a LIBOR Eurocurrency Rate Loan into a Base Prime Rate Loan, such conversion shall only be made on the last day of the Interest Period with respect thereto thereto; and (d) no Revolving Credit Loan may be converted into a LIBOR 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 Bank shall take such action as is necessary to transfer its Commitment Percentage of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Eurocurrency Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans denominated in Dollars of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $250,000 500,000 or a whole multiple of $100,000 in excess thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Eurocurrency Rate Loan shall be irrevocable by the BorrowersBorrower.

Appears in 2 contracts

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

Conversion to Different Type of Revolving Credit Loan. The Borrowers Borrower may elect from time to time to convert any outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type, provided that (a) with respect to any such conversion of a LIBOR Rate Loan to a Base Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three one (31) Business Days Day prior written notice of such election; (b) with respect to any such conversion of a Base Rate Loan to a LIBOR Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three (3) LIBOR Business Days prior written notice of such election; (c) with respect to any such conversion of a LIBOR Rate Loan into a Base Rate Loan, such conversion shall only be made on the last day of the Interest Period with respect thereto unless the Borrower pays all amounts owing pursuant to §5.8 herein on the date of such conversion and (d) no Revolving Credit Loan may be converted into a LIBOR 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 of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $250,000 1,000,000 or a whole multiple thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Rate Loan shall be irrevocable by the BorrowersBorrower.

Appears in 2 contracts

Samples: Revolving Credit Agreement (SeaCube Container Leasing Ltd.), Revolving Credit Agreement (Seacastle Inc.)

Conversion to Different Type of Revolving Credit Loan. The Borrowers Borrower may elect from time to time to convert any outstanding Revolving Credit Loan denominated in Dollars to a Revolving Credit Loan of another TypeType denominated in Dollars, provided that (a) with respect to any such conversion of a LIBOR Eurocurrency Rate Loan to a Base Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three one (31) Business Days Day's prior written notice of such election; (b) with respect to any such conversion of a Base Rate Loan to a LIBOR Eurocurrency Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three (3) LIBOR Business Days Days' prior written notice of such election; (c) with respect to any such conversion of a LIBOR 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 and (d) no Revolving Credit Loan may be converted into a LIBOR 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 Revolver A Commitment Percentage or Revolver B Commitment Percentage, as the case may be, of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Eurocurrency Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans denominated in Dollars of any Type may be converted into a Revolving Credit Loan denominated in Dollars of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $250,000 1,000,000 or a whole multiple thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Eurocurrency Rate Loan shall be irrevocable by the BorrowersBorrower.

Appears in 1 contract

Samples: Multicurrency Revolving Credit Agreement (Lexmark International Inc /Ky/)

Conversion to Different Type of Revolving Credit Loan. The Borrowers Borrower may elect from time to time to convert any outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type, provided PROVIDED that (a) with respect to any such conversion of a LIBOR Rate Revolving Credit Loan to a Base Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three one (31) Business Days Day prior written notice of such election; (b) with respect to any such conversion of a Base Rate Loan to a LIBOR Eurodollar Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three (3) LIBOR Eurodollar Business Days prior written notice of such election; (c) with respect to any such conversion of a LIBOR Eurodollar Rate Loan into a Base Rate LoanRevolving Credit Loan of another Type, such conversion shall only be made on the last day of the Interest Period with respect thereto and (d) no Revolving Credit Loan may be converted into a LIBOR 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 as is necessary to transfer its Commitment Percentage of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Eurodollar Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided PROVIDED that any partial conversion shall be in an aggregate principal amount of $250,000 1,000,000 or a whole multiple thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Eurodollar Rate Loan shall be irrevocable by the BorrowersBorrower.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Dynatech Corp)

Conversion to Different Type of Revolving Credit Loan. The Borrowers Borrower may elect from time to time to convert any outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type, provided that (a) with respect to any such conversion of a LIBOR Rate Revolving Credit Loan to a Base Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three one (31) Business Days Day prior written notice of such election; (b) with respect to any such conversion of a Base Rate Loan to a LIBOR Eurodollar Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three (3) LIBOR Eurodollar Business Days prior written notice of such election; (c) with respect to any such conversion of a LIBOR Eurodollar Rate Loan into a Base Rate LoanRevolving Credit Loan of another Type, such conversion shall only be made on the last day of the Interest Period with respect thereto and (d) no Revolving Credit Loan may be converted into a LIBOR 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 as is necessary to transfer its Commitment Percentage of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Eurodollar Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $250,000 5,000,000 or a whole multiple of $1,000,000 in excess thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Eurodollar Rate Loan shall be irrevocable by the BorrowersBorrower.

Appears in 1 contract

Samples: Credit and Term Loan Agreement (Flextronics International LTD)

Conversion to Different Type of Revolving Credit Loan. The Borrowers Borrower may elect from time to time to convert any outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type, provided PROVIDED that (a) with respect to any such conversion of a LIBOR Rate Revolving Credit Loan to a Base Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three one (31) Business Days Day prior written notice of such election; (b) with respect to any such conversion of a Base Rate Loan to a LIBOR Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three (3) LIBOR Business Days prior written notice of such election; (c) with respect to any such conversion of a LIBOR Rate Loan into a Base Rate LoanRevolving Credit Loan of another Type, such conversion shall only be made on the last day of the Interest Period with respect thereto and (d) no Revolving Credit Loan may be converted into a LIBOR 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 as is necessary to transfer its Commitment Percentage of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided PROVIDED that any partial conversion shall be in an aggregate principal amount of $250,000 or a whole multiple thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Rate Loan shall be irrevocable by the BorrowersBorrower.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Stride & Associates Inc)

Conversion to Different Type of Revolving Credit Loan. The Borrowers Borrowers’ Representative may elect from time to time to convert any outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type, provided that (a) with respect to any such conversion of a LIBOR Eurodollar Rate Loan to a Base Rate Loan, the Borrowers Borrowers’ Representative shall give the Administrative Agent at least three one (31) Business Days prior written notice of such election; , (b) with respect to any such conversion of a Base Rate Loan to a LIBOR Eurodollar Rate Loan, the Borrowers Borrowers’ Representative shall give the Administrative Agent at least three (3) LIBOR Eurodollar Business Days prior written notice of such election; , (c) with respect to any such conversion of a LIBOR 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 Revolving Credit Loan may be converted into a LIBOR 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 Revolving Credit Lender shall take such action as is necessary to transfer its Commitment Percentage of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Eurodollar Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $250,000 1,000,000 or a whole an integral multiple of $500,000 in excess thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Eurodollar Rate Loan shall be irrevocable by the Borrowers.

Appears in 1 contract

Samples: Loan and Security Agreement (Mayors Jewelers Inc/De)

Conversion to Different Type of Revolving Credit Loan. The Borrowers may elect from time to time to convert any outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type, provided that (a) with respect to any such conversion of a LIBOR Rate Loan to a Base Rate Loan, the Borrowers shall give the Administrative Agent at least three (3) Business Days prior written notice of such election, signed by a Responsible Officer of each Borrower; (b) with respect to any such conversion of a Base Rate Loan to a LIBOR Rate Loan, the Borrowers shall give the Administrative Agent at least three (3) LIBOR Business Days prior written notice of such election, signed by a Responsible Officer of each Borrower; (c) with respect to any such conversion of a LIBOR 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 Revolving Credit Loan may be converted into a LIBOR 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 of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $250,000 or a whole multiple thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Rate Loan shall be irrevocable by the Borrowers.

Appears in 1 contract

Samples: Credit Agreement (Crystal Rock Holdings, Inc.)

Conversion to Different Type of Revolving Credit Loan. The Borrowers Borrower may elect from time to time to convert any outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type, provided PROVIDED that (a) with respect to any such conversion of a LIBOR Rate Loan to a Base Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three two (32) Business Days prior written notice of such election; (b) with respect to any such conversion of a Base Rate Loan to a LIBOR Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three two (32) LIBOR Business Days prior written notice of such election; (c) with respect to any such conversion of a LIBOR Rate Loan into a Base Rate LoanRevolving Credit Loan of another Type, such conversion shall only be made on the last day of the Interest Period with respect thereto and (d) no Revolving Credit Loan may be converted into a LIBOR 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 as is necessary to transfer its Commitment Percentage of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided PROVIDED that any partial conversion shall be in an aggregate principal amount of $250,000 500,000 or a whole multiple thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Rate Loan shall be irrevocable by the BorrowersBorrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Brooks Automation Inc)

Conversion to Different Type of Revolving Credit Loan. The Borrowers Borrower may elect from time to time to convert any outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type, provided that (ai) with respect to any such conversion of a LIBOR Rate Loan to a Base Prime Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three one (31) Business Days Day prior written notice of such election; (bii) with respect to any such conversion of a Base Prime Rate Loan to a LIBOR Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three (3) LIBOR Business Days prior written notice of such election; (ciii) with respect to any such conversion of a LIBOR Rate Loan into a Base Prime Rate Loan, Loans such conversion shall only be made on the last day of the Interest Period with respect thereto and (div) no Revolving Credit Loan may be converted into a LIBOR 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 as is necessary to transfer its Commitment Percentage of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $250,000 1,000,000 or a whole multiple thereof. Each Conversion Request relating to the conversion of a Revolving Credit Prime Rate Loan to a LIBOR Rate Loan shall be irrevocable by the BorrowersBorrower. 2.7.2.

Appears in 1 contract

Samples: Revolving Credit Agreement (Rollins Truck Leasing Corp)

Conversion to Different Type of Revolving Credit Loan. The Borrowers Borrower may elect from time to time to convert any outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type, provided that (a) with respect to any such conversion of a LIBOR Rate Revolving Credit Loan to a Base Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three by 11:00 a.m. (3Boston time) Business Days on the effective date thereof prior written notice of such election; (b) with respect to any such conversion of a Base Rate Revolving Credit Loan to a LIBOR Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three two (32) LIBOR Business Days prior written notice of such election; (c) with respect to any such conversion of a LIBOR Rate Loan into a Base Rate LoanRevolving Credit Loan of another Type, such conversion shall only be made on the last day of the Interest Period with respect thereto and (d) no Revolving Credit Loan may be converted into a LIBOR 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 as is necessary to transfer its Commitment Percentage of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $250,000 100,000 or a whole multiple of $50,000 in excess thereof. Each Conversion 16 Request relating to the conversion of a Revolving Credit Loan to a LIBOR Rate Loan shall be irrevocable by the BorrowersBorrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Hbo & Co)

Conversion to Different Type of Revolving Credit Loan. The Borrowers Borrower may elect from time to time to convert any outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type, provided that (ai) with respect to any such conversion of a LIBOR Eurodollar Rate Loan to a Base Prime Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least one (1) Business Day prior written notice of such election; (ii) with respect to any such conversion of a Prime Rate Loan to a Eurodollar Rate Loan, the Borrower shall give the Administrative Agent at least three (3) Eurodollar Business Days prior written notice of such election; (biii) with respect to any such conversion of a Base Rate Loan to a LIBOR Rate Loan, the Borrowers shall give the Administrative Agent at least three (3) LIBOR Business Days prior written notice of such election; (c) with respect to any such conversion of a LIBOR Eurodollar Rate Loan into a Base Prime Rate Loan, such conversion shall only be made on the last day of the Interest Period with respect thereto thereto; and (div) no Revolving Credit Prime Rate Loan may be converted into a LIBOR 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 as is necessary to transfer its Revolving Credit Commitment Percentage of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Eurodollar Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided that any partial conversion conversions shall be in an aggregate principal amount of $250,000 500,000 or a whole multiple of $100,000 in excess thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Eurodollar Rate Loan shall be irrevocable by the BorrowersBorrower.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Bell Sports Corp)

Conversion to Different Type of Revolving Credit Loan. The Borrowers may elect from time to time to convert any outstanding Revolving Credit Loan denominated in Dollars to a Revolving Credit Loan of another Type, provided that (a) with respect to any such conversion of a LIBOR Rate Revolving Credit Loan to a Base Rate Loan, the Borrowers applicable Borrower shall give the Administrative Agent at least three one (31) Business Days Day prior written notice of such election; (b) with respect to any such conversion of a Base Rate Loan to a LIBOR Eurocurrency Rate Loan, the Borrowers applicable Borrower shall give the Administrative Agent at least three (3) LIBOR Business Days prior written notice of such election; (c) with respect to any such conversion of a LIBOR Eurocurrency Rate Loan into a Base Rate LoanRevolving Credit Loan of another Type, such conversion shall only be made on the last day of the Interest Period with respect thereto and (d) no Revolving Credit Loan may be converted into a LIBOR 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 Bank shall take such action as is necessary to transfer its Commitment Percentage of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Eurocurrency Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans denominated in Dollars of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $250,000 5,000,000 or a whole multiple of $1,000,000 in excess thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Eurocurrency Rate Loan shall be irrevocable by the Borrowersapplicable Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Flextronics International LTD)

Conversion to Different Type of Revolving Credit Loan. The ----------------------------------------------------- Borrowers may elect from time to time to convert any outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type, provided that (a) -------- with respect to any such conversion of a LIBOR Rate Loan to a Base Rate Loan, the Borrowers shall give the Administrative Agent at least three (3) Business Days prior written notice of such election; (b) with respect to any such conversion of a Base Rate Loan to a LIBOR Rate Loan, the Borrowers shall give the Administrative Agent at least three four (34) LIBOR Business Days prior written notice of such election; (c) with respect to any such conversion of a LIBOR 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 Revolving Credit Loan may be converted into a LIBOR 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 of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate -------- principal amount of $250,000 1,000,000 or a whole multiple thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Rate Loan shall be irrevocable by the Borrowers.

Appears in 1 contract

Samples: Revolving Credit Agreement (Us Xpress Enterprises Inc)

Conversion to Different Type of Revolving Credit Loan. The Borrowers Borrower may elect from time to time to convert any outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type, provided that (a) with respect to any such conversion of a LIBOR Rate Revolving Credit Loan to a Base Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three one (31) Business Days prior written notice of such election; (b) with respect to any such conversion of a Base Rate Loan to a LIBOR Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three (3) LIBOR Business Days prior written notice of such election; (c) with respect to any such conversion of a LIBOR Rate Loan into a Base Rate LoanRevolving Credit Loan of another Type, such conversion shall only be made on the last day of the Interest Period with respect thereto thereto, or, if made on a date other than the last day of such Interest Period, shall be subject to Section 6.10 hereof and (d) no Revolving Credit Loan may be converted into a LIBOR 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 as is necessary to transfer its Commitment Percentage of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $250,000 or a whole multiple thereof[**]. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Rate Loan shall be irrevocable by the BorrowersBorrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Aztec Technology Partners Inc /De/)

Conversion to Different Type of Revolving Credit Loan. The Borrowers Any Borrower may elect from time to time to convert any outstanding Revolving Credit Loan denominated in Dollars to a Revolving Credit Loan of another TypeType denominated in Dollars, provided that (a) with respect to any such conversion of a LIBOR Eurocurrency Rate Loan to a Base Rate Loan, the Borrowers such Borrower shall give the Administrative Agent at least three one (31) Business Days Day prior written notice of such election; (b) with respect to any such conversion of a Base Rate Loan to a LIBOR Eurocurrency Rate Loan, the Borrowers such Borrower shall give the Administrative Agent at least three (3) LIBOR Business Days prior written notice of such election; (c) with respect to any such conversion of a LIBOR Eurocurrency Rate Loan into a Base Rate LoanRevolving Credit Loan of another Type, such conversion shall only be made on the last day of the Interest Period with respect thereto and (d) no Revolving Credit Base Rate Loan may be converted into a LIBOR 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 Bank shall take such action as is necessary to transfer its Commitment Percentage of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Eurocurrency Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans denominated in Dollars of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $250,000 1,000,000 or a whole multiple thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Eurocurrency Rate Loan shall be irrevocable by the Borrowersapplicable Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Genrad Inc)

Conversion to Different Type of Revolving Credit Loan. The Borrowers Borrower may elect from time to time to convert any outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type, provided that (a) with respect to any such conversion of a LIBOR Rate Revolving Credit Loan to a Base Prime Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three one (31) Business Days Day prior written notice of such election; (b) with respect to any such conversion of a Base Prime Rate Loan to a LIBOR Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three (3) LIBOR Business Days prior written notice of such election; (c) with respect to any such conversion of a LIBOR Rate Loan into a Base Prime Rate Loan, such conversion shall only be made on the last day of the Interest Period with respect thereto thereto; and (d) no Revolving Credit Loan may be converted into a LIBOR 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 as is necessary to transfer its Commitment Percentage of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $250,000 100,000 or a whole multiple thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Rate Loan shall be irrevocable by the BorrowersBorrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Ionics Inc)

Conversion to Different Type of Revolving Credit Loan. The Borrowers Borrower may elect from time to time to convert any outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type, provided that (ai) with respect to any such conversion of a LIBOR Rate Revolving Credit Loan to a Base Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three one (31) Business Days Day prior written notice of such election; (bii) with respect to any such conversion of a Base Rate Loan to a LIBOR Eurodollar Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three (3) LIBOR Eurodollar Business Days prior written notice of such election; (ciii) with respect to any such conversion of a LIBOR 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 thereto; and (div) no Revolving Credit Loan may be converted into a LIBOR 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 made, each Lender Bank shall take such action as is necessary to transfer its Revolving Credit Commitment Percentage of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Eurodollar Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $250,000 1,000,000 or a whole multiple thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Eurodollar Rate Loan shall be irrevocable by the BorrowersBorrower.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Mercury Air Group Inc)

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Conversion to Different Type of Revolving Credit Loan. The Borrowers Borrower may elect from time to time to convert any outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type, provided that (a) with respect to any such conversion of a LIBOR Rate Loan to a Base Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three one (31) Business Days prior written notice of such election; (b) with respect to any such conversion of a Base Rate Loan to a LIBOR Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three (3) LIBOR Business Days prior written notice of such election; (c) with respect to any such conversion of a LIBOR Rate Loan into a Base Rate LoanRevolving Credit Loan of another Type, such conversion shall only be made on the last day of the Interest Period with respect thereto and (d) no Revolving Credit Base Rate Loan may be converted into a LIBOR 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 as is necessary to transfer its Revolver A Commitment Percentage or Revolver B Commitment Percentage, as the case may be, of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $250,000 500,000 or a whole multiple thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Rate Loan shall be irrevocable by the BorrowersBorrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Varian Semiconductor Equipment Associates Inc)

Conversion to Different Type of Revolving Credit Loan. The Borrowers Borrower may elect from time to time to convert any outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type, provided that (ai) with respect to any such conversion of a LIBOR Rate Revolving Credit Loan to a Base Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three two (32) Business Days prior written notice of such election; (bii) with respect to any such conversion of a Base Rate Loan to a LIBOR Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three (3) LIBOR Business Days prior written notice of such election; (ciii) with respect to any such conversion of a LIBOR Rate Loan into a Base Rate LoanRevolving Credit Loan of another Type, such conversion shall only be made on the last day of the Interest Period with respect thereto and (div) no Revolving Credit Loan may be converted into a LIBOR Rate Loan when any Default or Event of Default has occurred and is continuingcontinuing or if such conversion is not permitted by Section 2.7.3. 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 of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $250,000 500,000 or a whole an integral multiple thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Rate Loan shall be irrevocable by the BorrowersBorrower.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Bangor Hydro Electric Co)

Conversion to Different Type of Revolving Credit Loan. The Borrowers Borrower may elect from time to time to convert any outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type, provided that (a) with respect to any such conversion of a LIBOR Eurodollar Rate Loan to a Base Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three one (31) Business Days Day prior written notice of such election; (b) with respect to any such conversion of a Base Rate Loan to a LIBOR Eurodollar Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three (3) LIBOR Eurodollar Business Days prior written notice of such election; (c) with respect to any such conversion of a LIBOR 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 Revolving Credit Loan may be converted into a LIBOR Eurodollar Rate Loan when any Default or Event of Default has occurred and is continuing. Promptly upon receipt of any such notice, the Administrative Agent shall notify each of the Lenders thereof. On the date on which such conversion is being made each Lender shall take such action as is necessary to transfer its Commitment Percentage of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Eurodollar Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $250,000 500,000 or a whole multiple of $250,000 in excess thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Eurodollar Rate Loan shall be irrevocable by the BorrowersBorrower.

Appears in 1 contract

Samples: And Term Loan Agreement (Il Fornaio America Corp)

Conversion to Different Type of Revolving Credit Loan. The Borrowers Borrower may elect from time to time to convert any outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type, provided that (a) with respect to any such conversion of a LIBOR Rate Loan to a Base Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three one (31) Business Days Day prior written notice of such election; (b) with respect to any such conversion of a Base Rate Loan to a LIBOR Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three (3) LIBOR Business Days prior written notice of such election; (c) with respect to any such conversion of a LIBOR 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 Revolving Credit Loan may be converted into a LIBOR 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 as is necessary to transfer its Commitment Percentage of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $250,000 500,000 or a whole multiple of $100,000 in excess thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Rate Loan shall be irrevocable by the BorrowersBorrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Anacomp Inc)

Conversion to Different Type of Revolving Credit Loan. The Borrowers Borrower may elect from time to time to convert any outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type, provided that (a) with respect to any such conversion of a LIBOR Rate Loan to a Base Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three (3) Business Days prior written notice of such election; (b) with respect to any such conversion of a Base Rate Loan to a LIBOR Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three (3) LIBOR Business Days prior written notice of such election; (c) with respect to any such conversion of a LIBOR 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 Revolving Credit Loan may be converted into into, or continued as, a LIBOR Rate Loan when any Default or Event of Default has occurred and is continuing. Promptly upon the receipt of any such election, the Administrative Agent shall notify the Lenders thereof. On the date on which such conversion is being made made, each Lender shall take such action as is necessary to transfer its Commitment Percentage of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $250,000 1,000,000 or a whole multiple of $100,000 in excess thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Rate Loan shall be irrevocable by the BorrowersBorrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Jumpking Inc)

Conversion to Different Type of Revolving Credit Loan. The Borrowers US Borrower may elect from time to time to convert any outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type, provided that (a) with respect to any such conversion of a LIBOR Rate Loan to a Base Rate Loan, the Borrowers US Borrower shall give the Administrative Agent at least three one (31) US Business Days Day prior written notice of such election; (b) with respect to any such conversion of a Base Rate Loan to a LIBOR Rate Loan, the Borrowers US Borrower shall give the Administrative Agent at least three (3) LIBOR Business Days prior written notice of such election; (c) with respect to any such conversion of a LIBOR 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 thereto; (d) no Revolving Credit Base Rate Loan may be converted into a LIBOR Rate Loan when any Default or a Payment Event of Default or an Event of Default under (Section)14.1 (g) or (h) has occurred and is continuing; and (e) no more than ten (10) LIBOR Rate Loans having different Interest Periods may be outstanding at any time. On the date on which such conversion is being made made, each Lender shall take such action as is necessary to transfer its Commitment Percentage of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $250,000 500,000 or a whole multiple thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Rate Loan shall be irrevocable by the BorrowersUS Borrower.

Appears in 1 contract

Samples: Credit and Term Loan Agreement (Genesee & Wyoming Inc)

Conversion to Different Type of Revolving Credit Loan. The Borrowers may elect from time to time to convert any outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type, provided that (a) with respect to any such conversion of a LIBOR Rate Revolving Credit Loan to a Base Rate Loan, the Borrowers applicable Borrower shall give the Administrative Agent at least three one (31) Business Days Day prior written notice of such election; (b) with respect to any such conversion of a Base Rate Loan to a LIBOR Eurocurrency Rate Loan, the Borrowers applicable Borrower shall give the Administrative Agent at least three (3) LIBOR Business Days prior written notice of such election; (c) with respect to any such conversion of a LIBOR Eurocurrency Rate Loan into a Base Rate LoanRevolving Credit Loan of another Type, such conversion shall only be made on the last day of the Interest Period with respect thereto and (d) no Revolving Credit Loan may be converted into a LIBOR Eurocurrency Rate Loan when any Default or Event of Default has occurred and is continuing. The Agent shall promptly notify the applicable Banks of such election (but in any event on the day the Agent receives an election by the Domestic Borrowers and by the day following the date the Agent receives an election by any Foreign Borrower). On the date on which such conversion is being made each Lender applicable Bank shall take such action as is necessary to transfer its Revolving A Commitment Percentage or Revolving B Commitment Percentage, as the case may be, of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Eurocurrency Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $250,000 500,000 or a whole an integral multiple of $100,000 in excess thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Eurocurrency Rate Loan shall be irrevocable by the Borrowersapplicable Borrower.

Appears in 1 contract

Samples: Loan Agreement (Holmes Group Inc)

Conversion to Different Type of Revolving Credit Loan. The Borrowers US Borrower may elect from time to time to convert any outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type, provided that (a) with respect to any such conversion of a LIBOR Rate Loan to a Base Rate Loan, the Borrowers US Borrower shall give the Administrative Agent at least three one (31) US Business Days Day prior written notice of such election; (b) with respect to any such conversion of a Base Rate Loan to a LIBOR Rate Loan, the Borrowers US Borrower shall give the Administrative Agent at least three (3) LIBOR Business Days prior written notice of such election; (c) with respect to any such conversion of a LIBOR 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 thereto; (d) no Revolving Credit Base Rate Loan may be converted into a LIBOR Rate Loan when any Default or a Payment Event of Default or an Event of Default under Section 14.1 (g) or (h) has occurred and is continuing; and (e) no more than ten (10) LIBOR Rate Loans having different Interest Periods may be outstanding at any time. On the date on which such conversion is being made made, each Lender shall take such action as is necessary to transfer its Commitment Percentage of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $250,000 500,000 or a whole multiple thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Rate Loan shall be irrevocable by the BorrowersUS Borrower.

Appears in 1 contract

Samples: Credit and Term Loan Agreement (Genesee & Wyoming Inc)

Conversion to Different Type of Revolving Credit Loan. The Borrowers Borrower may elect from time to time to convert any outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type, provided that (a) with respect to any such conversion of a LIBOR Rate Revolving Credit Loan to a Base Rate Loan, the Borrowers Borrower shall give the Administrative Agent Bank at least three one (31) Business Days Day prior written notice of such election; (b) with respect to any such conversion of a Base Rate Loan to a LIBOR Rate Loan, the Borrowers Borrower shall give the Administrative Agent Bank at least three (3) LIBOR Business Days prior written notice of such election; (c) with respect to any such conversion of a LIBOR Rate Loan into a Base Rate LoanRevolving Credit Loan of another Type, such conversion shall only be made on the last day of the Interest Period with respect thereto and (d) no Revolving Credit Loan may be converted into a LIBOR 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 the Bank shall take such action as is necessary to transfer its Commitment Percentage of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $250,000 1,000,000 or a whole multiple thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Rate Loan shall be irrevocable by the BorrowersBorrower.

Appears in 1 contract

Samples: Revolving Credit (Helix Technology Corp)

Conversion to Different Type of Revolving Credit Loan. The Borrowers Borrower may elect from time to time to convert any outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type, provided that (a) with respect to any such conversion of a LIBOR Eurodollar Rate Loan to a Base Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three one (31) Business Days Day's prior written notice of such election; (b) with respect to any such conversion of a Base Rate Loan to a LIBOR Eurodollar Rate Loan, the Borrowers Borrower shall give the Administrative Agent at least three (3) LIBOR Eurodollar Business Days Days' prior written notice of such election; (c) with respect to any such conversion of a LIBOR 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 thereto; and (d) no Revolving Credit Base Rate Loan may be converted into a LIBOR 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 as is necessary to transfer its Commitment Percentage of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Eurodollar Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided PROVIDED that any partial conversion shall be in an aggregate principal amount of $250,000 2,000,000 or a whole multiple of $1,000,000 in excess thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Eurodollar Rate Loan shall be irrevocable by the BorrowersBorrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Staples Inc)

Conversion to Different Type of Revolving Credit Loan. The Borrowers may elect from time to time to convert any outstanding Revolving Credit Loan to a Revolving Credit Loan of another Type, provided that (a) with respect to any such conversion of a LIBOR Eurodollar Rate Loan to a Base Rate Loan, the Borrowers shall give the Administrative Agent at least three (3) Business Days prior written notice of such election; (b) with respect to any such conversion of a Base Rate Loan to a LIBOR Eurodollar Rate Loan, the Borrowers shall give the Administrative Agent at least three four (34) LIBOR Eurodollar Business Days prior written notice of such election; (c) with respect to any such conversion of a LIBOR 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 Revolving Credit Loan may be converted into a LIBOR 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 Revolving Credit Lender shall take such action as is necessary to transfer its Revolving Credit Commitment Percentage of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Eurodollar Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $250,000 1,000,000 or a whole an integral multiple of $500,000 in excess thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Eurodollar Rate Loan shall be irrevocable by the Borrowers.

Appears in 1 contract

Samples: Credit and Term Loan Agreement (Iesi Corp)

Conversion to Different Type of Revolving Credit Loan. The Borrowers may elect from time to time to convert any outstanding Revolving Credit Loan denominated in Dollars to a Revolving Credit Loan of another TypeType denominated in Dollars, provided that (a) with respect to any such conversion of a LIBOR Rate Revolving Credit Loan to a Base Rate Loan, the Borrowers applicable Borrower shall give the Administrative Agent at least three one (31) Business Days Day prior written notice of such election; (b) with respect to any such conversion of a Base Rate Loan to a LIBOR Eurocurrency Rate Loan, the Borrowers applicable Borrower shall give the Administrative Agent at least three (3) LIBOR Business Days prior written notice of such election; (c) with respect to any such conversion of a LIBOR Eurocurrency Rate Loan into a Base Rate LoanRevolving Credit Loan of another Type, such conversion shall only be made on the last day of the Interest Period with respect thereto and (d) no Revolving Credit Loan may be converted into a LIBOR Eurocurrency Rate Loan when any Default or Event of Default has occurred and is continuing. The Agent shall promptly notify the Banks of such election (but in any event on the day the Agent receives an election by the Company and by the day following the date the Agent receives an election by any Subsidiary Borrower). 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 of such Revolving Credit Loans to its Domestic Lending Office or its LIBOR Eurocurrency Lending Office, as the case may be. All or any part of outstanding Revolving Credit Loans denominated in Dollars of any Type may be converted into a Revolving Credit Loan of another Type as provided herein, provided that any partial conversion shall be in an aggregate principal amount of $250,000 500,000 or a whole an integral multiple of $100,000 in excess thereof. Each Conversion Request relating to the conversion of a Revolving Credit Loan to a LIBOR Eurocurrency Rate Loan shall be irrevocable by the Borrowersapplicable Borrower.

Appears in 1 contract

Samples: Revolving Credit Agreement (Holmes Products Corp)

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