Common use of Conversion to Term Loans Clause in Contracts

Conversion to Term Loans. At the option of the Borrower and subject to the satisfaction of the conditions precedent for a Borrowing set forth in Section 4.02, upon written notice delivered to the Administrative Agent no earlier than 60 days and no later than one Business Day prior to the Revolving Credit Termination Date, the aggregate principal amount of all, but not less than all, of the Revolving Loans remaining outstanding at the close of the Administrative Agent's business on the Revolving Credit Termination Date shall automatically convert to Term Loans with a maturity of one year. Any portion of each Lender's Commitment not utilized on or before the Revolving Credit Termination Date shall be permanently cancelled. Any Term Loans that are prepaid may not be reborrowed.

Conversion to Term Loans. At the option of the Borrower and subject to the satisfaction of the conditions precedent for a Borrowing set forth in Section 4.02, upon written notice delivered to the Administrative Agent no earlier than 60 days and no later than one three Business Day Days prior to the Revolving Credit Termination Date, the aggregate principal amount of all, but not less than all, of the Revolving Loans remaining outstanding at the close of the Administrative Agent's business on the Revolving Credit Termination Date shall automatically convert to Term Loans with a maturity of one year. Any portion of each Lender's Commitment not utilized on or before the Revolving Credit Termination Date shall be permanently cancelled. Any Term Loans that are prepaid may not be reborrowed.

Conversion to Term Loans. At the option of the Borrower Company and subject to the satisfaction of the conditions precedent for a Borrowing other than a Refunding Borrowing set forth in Section 4.02, upon written notice delivered to the Administrative Agent no earlier than 60 days and no later than one Business Day 30 days prior to the then applicable Revolving Credit Termination Loan Maturity Date, the aggregate principal amount of all, but not less than all, of the any Revolving Loans remaining outstanding at the close of the Administrative Agent's business on the then applicable Revolving Credit Termination Date Loan Maturity Date, shall automatically convert to Term Loans with a maturity of one yeartwo years. Any portion of each Lender's Commitment not utilized on or before the then applicable Revolving Credit Termination Loan Maturity Date shall be permanently cancelled. Any Term Loans that are prepaid may not be reborrowed.