Conversions and Continuances. The Company shall have the option to convert or continue on any Business Day all or a portion of the outstanding principal amount of one Type of Advance into another Type of Advance, provided, no Advances may be converted into or continued as Eurodollar Rate Advances if a Default or Event of Default is in existence on the date of the conversion. Any continuation of an Advance as the same Type of Advance in the same amount shall be effected by the Company giving notice to the Agent, in writing, or by telephone promptly confirmed in writing, of its intention to continue such Advance as an Advance of the same Type. Each such conversion shall be effected by the Company giving the Agent written notice (each a "Notice of Conversion"), substantially in the form of Exhibit 2.05 hereto, prior to 11:00 a.m. (Houston, Texas time) at least (a) three (3) Business Days prior to the date of such conversion in the case of conversion into or continuance as Eurodollar Rate Advances and (b) prior to 10:00 a.m. (Houston, Texas time) one Business Day prior to the date of conversion in the case of a conversion into Alternate Base Rate Advances, specifying each Advance (or portions thereof) to be so converted and, if to be converted into or continued as Eurodollar Rate Advances, the Interest Period to be initially applicable thereto. The Agent shall thereafter promptly notify each Bank of such Notice of Conversion.
Conversions and Continuances. 27 SECTION 2.08
Conversions and Continuances. 15 SECTION 2.06.
Conversions and Continuances. The Company shall have the option to convert or continue on any Business Day all or a portion of the outstanding principal amount of one Type of Advance for any Loan into another Type of Advance, PROVIDED, no Advances may be converted into or continued as LIBOR Rate Advances if a Default or Event of Default is in existence on the date of the conversion. Any continuation of an Advance as the same Type of Advance in the same amount shall be effected by the Company giving notice to the Agent, in writing, or by telephone promptly confirmed in writing, of its intention to continue such Advance as an Advance of the same Type. Each such conversion shall be effected by the Company giving the Agent written notice (each a "NOTICE OF CONVERSION"), substantially in the form of EXHIBIT 2.05 hereto, prior to 11:00 a.m. (Houston, Texas time) at least (a) three (3) Business Days prior to the date of such conversion in the case of conversion into or continuance as LIBOR Rate Advances and (b) prior to 10:00 a.m. (Houston, Texas time) one Business Day prior to the date of conversion in the case of a conversion into Base Rate Advances, specifying each Advance (or portions thereof) to be so converted and, if to be converted into or continued as LIBOR Rate Advances, the Interest Period to be initially applicable thereto. The Agent shall thereafter promptly notify each Bank of such Notice of Conversion.
Conversions and Continuances. Each Borrower shall have the option to convert on any Business Day all or a portion of the outstanding principal amount of one Type of Advance made to it into another Type of Advance, PROVIDED, no Advances may be converted into or continued as Eurodollar Rate Advances if a Default or Event of Default is in existence on the date of the conversion. Each such conversion shall be effected by the relevant Borrower giving the Bank written notice (each a "NOTICE OF CONVERSION") prior to 10:00 a.m. (Houston, Texas time) at least (a) three (3) Business Days prior to the date of such conversion in the case of conversion into or continuance as Eurodollar Rate Advances and (b) prior to 10:00 a.m. (Houston, Texas time) one (1) Business Day prior to the date of conversion in the case of a conversion into Prime Rate Advances, specifying each Advance (or portions thereof) to be so converted and, if to be converted into or continued as Eurodollar Rate Advances, the Interest Period to be applicable thereto.
Conversions and Continuances. Subject to the provisions of Section 2.17 hereof, the Company shall have the option to convert on any Business Day all or a portion of the outstanding principal amount of one Type of Advance into another Type of Advance or continue all or a portion of any LIBOR Advance for an additional Interest Period or Interest Periods, provided, no Advances may be converted into or continued as LIBOR Rate Advances if an Event of Default is in existence on the date of the conversion or continuation. Except as provided in Section 2.13(b), each such conversion or continuation shall be effective by the Company giving the Agent written notice (each a "Notice of Conversion")
(a) prior to 11:00 a.m. (Houston, Texas time) at least three (3) Business Days prior to the date of such conversion in the case of conversion or continuation into or continuance as a LIBOR Rate Advance and (b) prior to 11:00 a.m. (Houston, Texas time) on the date of such conversion in the case of a conversion into an Alternate Base Rate Advance, specifying each Advance (or portions thereof) to be so converted or continued and, if to be converted into or continued as a LIBOR Rate Advance, the Interest Period to be initially applicable thereto. The Agent shall thereafter promptly notify each affected Lender of such Notice of Conversion. In no event shall there be more than five (5) LIBOR Rate Advances outstanding at any time.
Conversions and Continuances. (a) Subject to the provisions of Section 2.15 hereof, the Borrower shall have the option to convert on any Business Day all or a portion of the outstanding principal amount of one Type of Advance into another Type of Advance (other than (i) Advances under the Swing Line Loan which at all times must be maintained as Alternate Base Rate Advances and (ii) LIBOR Rate Advances denominated in Sterling) or continue any LIBOR Rate Advance for an additional Interest Period, provided, no Advances may be converted into or continued as LIBOR Rate Advances if an Event of Default is in existence on the date of the conversion or continuation. Except as provided in Section 2.11(b) hereof, each such conversion or continuation shall be effected by the Borrower giving the Agent written notice (each a “Notice of Conversion”) (a) prior to 12:00 p.m. (New York time) at least three (3) Business Days prior to the date of such conversion in the case of conversion or continuation into or continuance as a LIBOR Rate Advance denominated in Dollars, (b) prior to 12:00 p.m. (New York time) at least four (4) Business Days prior to the date of such conversion in the case of conversion or continuation into or continuance as a LIBOR Rate Advance denominated in Sterling and (c) prior to 12:00 p.m. (New York time) on the date of such conversion in the case of a conversion into an Alternate Base Rate Advance, specifying each Advance (or portions thereof) to be so converted or continued and, if to be converted into or continued as a LIBOR Rate Advance, the Interest Period to be initially applicable thereto. The Agent shall thereafter promptly notify each affected Lender of such Notice of Conversion.
(b) If, with respect to any LIBOR Rate Advances, the Requisite Lenders notify the Agent that (i) they are unable to obtain matching deposits in the London interbank market at or about 11:00 a.m. (London time) on the fourth Business Day before the making of an Advance in sufficient amounts to fund their respective Revolving Credit Loans as a part of such Advance during its Interest Period or (ii) the LIBOR Rate for any Interest Period for such Advances will not adequately reflect the cost to such Requisite Lenders of making, funding or maintaining their respective LIBOR Rate Advances for such Interest Period, the Agent shall forthwith so notify the Borrower and the Lenders, whereupon (A) the Borrower will, on the last day of the then existing Interest Period therefor, (1) if such LIBOR Rate Advances...
Conversions and Continuances. The Company shall have the ---------------------------- option to convert or continue on any Business Day all or a portion of the outstanding principal amount of one Type of Advance into another Type of Advance, provided no Advances may be converted into or continued as Eurodollar -------- Rate Advances if a Default or Event of Default is in existence on the date of the conversion. Any continuation of an Advance as the same Type of Advance in the same amount shall be effected by the Company giving notice to the Administrative Agent, in writing, or by telephone promptly confirmed in writing, of its intention to continue such Advance as an Advance of the same Type. Each such conversion shall be effected by the Company giving the Administrative Agent written notice (each a "Notice of Conversion"), substantially in the form of --------------------
Conversions and Continuances. 30 2.09. Pro Rata Committed Borrowings......................................31 2.10. Competitive Borrowings.............................................31 2.11. Optional Termination or Reduction of Commitments...................35 2.12. Mandatory Termination of Commitments...............................35 2.13.
Conversions and Continuances. At the end of any Interest ---------------------------- Period, the Borrower shall have the option to convert or continue all or a portion, equal to not less than $5,000,000 ($1,000,000 in the case of conversions or continuations into Base Rate Loans), of the outstanding principal amount of one Type of its Committed Loans made pursuant to one or more Committed Borrowings into a Committed Borrowing or Committed Borrowings of the other Type or Types of Committed Loans; provided, however, that except as otherwise -------- ------- provided in Section 8.03, no partial conversion or continuation of Euro-Dollar Committed Loans shall reduce the outstanding principal amount of Euro-Dollar Committed Loans made pursuant to any single Borrowing to less than $5,000,000 and (ii) Base Rate Loans may be converted into Euro-Dollar Committed Loans or continued as Base Rate Loans, and Euro-Dollar Committed Loans may be continued as Euro-Dollar Committed Loans or converted into Base Rate Loans for additional Interest Periods if and only if, in either case no Default or Event of Default is in existence on the date of the conversion or
