Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period to continue the outstanding principal amount of any Eurodollar Loans as Eurodollar Loans for an additional Interest Period; provided that (i) no partial conversion of Eurodollar Loans shall reduce the outstanding principal amount of Eurodollar Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) ABR Loans may not be converted into Eurodollar Loans if an Event of Default is in existence on the date of the conversion and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar Loans may not be continued as Eurodollar Loans for an additional Interest Period if an Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such continuation and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.
Appears in 4 contracts
Samples: Credit Agreement (GCM Grosvenor Inc.), Fourth Amendment (LPL Financial Holdings Inc.), Third Amendment, Extension and Incremental Assumption Agreement (LPL Financial Holdings Inc.)
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period to continue the outstanding principal amount of any Eurodollar Loans as Eurodollar Loans for an additional Interest Period; provided that (i) no partial conversion of Eurodollar Loans shall reduce the outstanding principal amount of Eurodollar Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) ABR Loans may not be converted into Eurodollar Loans if an Event of Default is in existence on the date of the conversion and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar Loans may not be continued as Eurodollar Loans for an additional Interest Period if an Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such continuation continuation, and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.
Appears in 3 contracts
Samples: Incremental Agreement (MultiPlan Corp), Credit Agreement (MultiPlan Corp), Credit Agreement (MultiPlan Corp)
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans Loans, in each case denominated in Dollars or Alternative Currencies of one Type into a Borrowing or Borrowings of another Type and Type, in each case denominated in Dollars or Alternative Currencies, and, except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period to continue the outstanding principal amount of any Eurodollar Fixed Rate Loans as Eurodollar Fixed Rate Loans denominated in the same currency for an additional Interest Period; provided that (i) no partial conversion of Eurodollar Fixed Rate Loans shall reduce the outstanding principal amount of Eurodollar Fixed Rate Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) ABR Loans may not be converted into Eurodollar Fixed Rate Loans if an Event of Default is in existence on the date of the conversion and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar Fixed Rate Loans may not be continued as Eurodollar Fixed Rate Loans for an additional Interest Period if an Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such continuation continuation, and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.
Appears in 3 contracts
Samples: Credit Agreement (MultiPlan Corp), Credit Agreement (MultiPlan Corp), Credit Agreement (Snap One Holdings Corp.)
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, Day to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period any Business Day to continue the outstanding principal amount of any Eurodollar Loans as Eurodollar Loans for an additional Interest Period; provided provided, that (i) no partial conversion of Eurodollar Loans shall reduce the outstanding principal amount of Eurodollar Loans made pursuant to a single Borrowing to less than the Minimum DDTL Borrowing Amount, (ii) ABR Loans may not be converted into Eurodollar Loans if an Event of Default is in existence on the date of the proposed conversion and the Administrative Agent has, or the Required Lenders in respect of the Credit Facility Lenders with respect to any that is the subject of such Credit Facility conversion have, determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar Loans may not be continued as Eurodollar Loans for an additional Interest Period if an Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, or the Required Lenders in respect of the Credit Facility Lenders with respect to any that is the subject of such Credit Facility conversion have, determined in its or their sole discretion not to permit such continuation and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 2.06 shall be limited in number as provided in Section 2.
Appears in 2 contracts
Samples: Credit Agreement (Evolent Health, Inc.), Credit Agreement (Evolent Health, Inc.)
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, Day to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period any Business Day to continue the outstanding principal amount of any Eurodollar Term Loans as Eurodollar Term Loans for an additional Interest Period; provided that (i) no partial conversion of Eurodollar Term Loans shall reduce the outstanding principal amount of Eurodollar Term Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) ABR Loans may not be converted into Eurodollar Term Loans if an Event of Default is in existence on the date of the conversion and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar Term Loans may not be continued as Eurodollar Term Loans for an additional Interest Period if an Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such continuation and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.2.2. Each such conversion or continuation
Appears in 2 contracts
Samples: Term Loan Credit Agreement (Goodman Global Group, Inc.), Term Loan Credit Agreement (Goodman Sales CO)
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, Day to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Loans or Revolving Credit Loans or Extended Revolving Credit Loans made to the Borrower (as applicable) of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period any Business Day to continue the outstanding principal amount of any Eurodollar LIBOR Term Loans or LIBOR Revolving Credit Loans as Eurodollar LIBOR Term Loans or LIBOR Revolving Credit Loans, as the case may be, for an additional Interest Period; , provided that (i) no partial conversion of Eurodollar LIBOR Term Loans or LIBOR Revolving Credit Loans shall reduce the outstanding principal amount of Eurodollar LIBOR Term Loans or LIBOR Revolving Credit Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) ABR Loans may not be converted into Eurodollar LIBOR Term Loans or LIBOR Revolving Credit Loans if an a Default or Event of Default is in existence on the date of the conversion and the Administrative Agent has, has or the Required Credit Facility Lenders with respect to any such Credit Facility have, have determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar LIBOR Loans may not be continued as Eurodollar LIBOR Loans for an additional Interest Period if an Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such continuation and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.additional
Appears in 2 contracts
Samples: Credit Agreement (Panamsat Corp /New/), Credit Agreement (PanAmSat Holding CORP)
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period to continue the outstanding principal amount of any Eurodollar Term SOFR Rate Loans as Eurodollar Term SOFR Rate Loans for an additional Interest Period; provided that (i) no partial conversion of Eurodollar Term SOFR Rate Loans shall reduce the outstanding principal amount of Eurodollar Term SOFR Rate Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) ABR Loans may not be converted into Eurodollar Term SOFR Rate Loans if an Event of Default is in existence on the date of the conversion and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar Term SOFR Rate Loans may not be continued as Eurodollar Term SOFR Rate Loans for an additional Interest Period if an Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such continuation and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.
Appears in 2 contracts
Samples: Ninth Amendment (LPL Financial Holdings Inc.), Eighth Amendment (LPL Financial Holdings Inc.)
Conversions and Continuations. (a) The Subject to the penultimate sentence of this clause (a), (x) the Borrower shall have the option on any Business Day, subject to Section 2.11, Day to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of any Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein (y) the Borrower shall have the option on the last day of an Interest Period any Business Day to continue the outstanding principal amount of any Eurodollar LIBOR Loans as Eurodollar LIBOR Loans for an additional Interest Period; provided that (i) no partial conversion of Eurodollar LIBOR Loans shall reduce the outstanding principal amount of Eurodollar LIBOR Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) ABR Loans may not be converted into Eurodollar LIBOR Loans if an Event of Default is in existence on the date of the conversion and the Administrative Agent has, has or the Required Credit Facility Lenders with respect to any such Credit Facility have, have determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar LIBOR Loans may not be continued as Eurodollar LIBOR Loans for an additional Interest Period if an Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, have determined in its or their sole discretion not to permit such continuation continuation, and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.
Appears in 2 contracts
Samples: Term Loan Credit Agreement (Avaya Holdings Corp.), Term Loan Credit Agreement (Avaya Holdings Corp.)
Conversions and Continuations. (a) The A Borrower shall have the option on any Business Day, subject to Section 2.11, Day to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans made to such Borrower of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the such Borrower shall have the option on the last day of an Interest Period any Business Day to continue the outstanding principal amount of any Eurodollar LIBOR Loans or EURIBOR Loans, as Eurodollar Loans the case may be, for an additional Interest Period; , provided that (i) no partial conversion of Eurodollar LIBOR Loans or EURIBOR Loans shall reduce the outstanding principal amount of Eurodollar LIBOR Loans or EURIBOR Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) ABR Loans may not be converted into Eurodollar LIBOR Loans if an a Default or Event of Default is in existence on the date of the conversion and the Administrative Agent has, has or the Required Credit Facility Lenders with respect to any such Credit Facility have, have determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar LIBOR Loans denominated in US Dollars may not be continued as Eurodollar LIBOR Loans for an additional Interest Period if an Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, has or the Required Credit Facility Lenders with respect to any such Credit Facility have, have determined in its or their sole discretion not to permit such continuation continuation, and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.
Appears in 2 contracts
Samples: Secured Revolving Credit Agreement (NXP Semiconductors N.V.), Secured Revolving Credit Agreement (NXP Manufacturing (Thailand) Co., Ltd.)
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, Day to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period any Business Day to continue the outstanding principal amount of any Eurodollar Loans as Eurodollar Loans for an additional Interest Period; provided that (i) no partial conversion of Eurodollar Loans shall reduce the outstanding principal amount of Eurodollar Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) ABR Loans may not be converted into Eurodollar Loans if an Event of Default is in existence on the date of the conversion and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar Loans may not be continued as Eurodollar Loans for an additional Interest Period if an Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such continuation and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Goodman Global Group, Inc.), Revolving Credit Agreement (Goodman Sales CO)
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, Day to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein (y) the Borrower shall have the option on the last day of an Interest Period any Business Day to continue the outstanding principal amount of any Eurodollar Loans as Eurodollar Loans for an additional Interest Period; provided that (i) no partial conversion of Eurodollar Loans shall reduce the outstanding principal amount of Eurodollar Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) ABR Loans may not be converted into Eurodollar Loans if an a Default or Event of Default is in existence on the date of the conversion and the Administrative Agent has, or the Required Lenders in respect of the Credit Facility Lenders with respect that is subject to any such Credit Facility conversion have, determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar Loans may not be continued as Eurodollar Loans for an additional Interest Period if an a Default or Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, or the Required Lenders in respect of the Credit Facility Lenders with respect that is subject to any such Credit Facility continuation have, determined in its or their sole discretion not to permit such continuation and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.
Appears in 1 contract
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, Day to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Loans or Revolving Credit Loans or Extended Revolving Credit Loans made to the Borrower (as applicable) of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period any Business Day to continue the outstanding principal amount of any Eurodollar LIBOR Term Loans or LIBOR Revolving Credit Loans as Eurodollar LIBOR Term Loans or LIBOR Revolving Credit Loans, as the case may be, for an additional Interest Period; provided that (i) no partial conversion of Eurodollar LIBOR Term Loans or LIBOR Revolving Credit Loans shall reduce the outstanding principal amount of Eurodollar LIBOR Term Loans or LIBOR Revolving Credit Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) ABR Loans may not be converted into Eurodollar LIBOR Term Loans or LIBOR Revolving Credit Loans if an a Default or Event of Default is in existence on the date of the conversion and the Administrative Agent has, has or the Required Credit Facility Lenders with respect to any such Credit Facility have, have determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar LIBOR Loans may not be continued as Eurodollar LIBOR Loans for an additional Interest Period if an a Default or Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, has or the Required Credit Facility Lenders with respect to any such Credit Facility have, have determined in its or their sole discretion not to permit such continuation and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.Section
Appears in 1 contract
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.112.11, to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period to continue the outstanding principal amount of any Eurodollar Loans as Eurodollar Loans for an additional Interest Period; provided that (i) no partial conversion of Eurodollar Loans shall reduce the outstanding principal amount of Eurodollar Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) ABR Loans may not be converted into Eurodollar Loans if an Event of Default is in existence on the date of the conversion and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar Loans may not be continued as Eurodollar Loans for an additional Interest Period if an Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such continuation continuation, and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 2.6 shall be limited in number as provided in Section 22.
Appears in 1 contract
Samples: Incremental Revolving Credit Commitment Increase Agreement (MultiPlan Corp)
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, Day to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period or to continue the outstanding principal amount of any Eurodollar Term Loans or Eurodollar Revolving Credit Loans as Eurodollar Term Loans or Eurodollar Revolving Credit Loans, as the case maybe, for an additional Interest Period; provided , PROVIDED that (i) no partial conversion of Eurodollar Term Loans or Eurodollar Revolving Credit Loans shall reduce the outstanding principal amount of Eurodollar Term Loans or Eurodollar Revolving Credit Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) ABR Loans may not be converted into Eurodollar Term Loans or Eurodollar Revolving Credit Loans if an a Default or Event of Default is in existence on the date of the conversion and the Administrative Agent has, has or the Required Credit Facility Lenders with respect to any such Credit Facility have, have determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar Loans may not be continued as Eurodollar Term Loans or Eurodollar Revolving Credit Loans for an additional Interest Period if an a Default or Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, has or the Required Credit Facility Lenders with respect to any such Credit Facility have, have determined in its or their sole discretion not to permit such continuation and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.Section
Appears in 1 contract
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, Day to convert all or a portion equal to at least the Minimum Borrowing Amount $2,000,000 of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans of made to the Borrower from one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period any Business Day to continue the outstanding principal amount of any Eurodollar Loans as Eurodollar Loans for an additional Interest Period; , provided that (i) no partial conversion of Eurodollar Loans shall reduce the outstanding principal amount of Eurodollar Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount$2,000,000, (ii) ABR Loans may not be converted into Eurodollar Loans if an Event of a Default is in existence on the date of the conversion and the Administrative Agent has, has or the Required Credit Facility Lenders with respect to any such Credit Facility have, have determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar Loans may not be continued as Eurodollar Loans for an additional Interest Period if an Event of a Default is in existence on the date of the proposed continuation and the Administrative Agent has, has or the Required Credit Facility Lenders with respect to any such Credit Facility have, have determined in its or their sole discretion not to permit such continuation, (iv) no conversion or continuation of Eurodollar Loans may be made on a day other than the last day of the Interest Period applicable thereto and (ivv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.
Appears in 1 contract
Samples: Credit Agreement (Sealy Corp)
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period to continue the outstanding principal amount of any Eurodollar Loans as Eurodollar Loans for an additional Interest Period; provided that (i) no partial conversion of Eurodollar Loans shall reduce the outstanding principal amount of Eurodollar Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) ABR Loans may not be converted into Eurodollar Loans if an Event of Default is in existence on the date of the conversion and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar Loans may not be continued as Eurodollar Loans for an additional Interest Period if an Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such continuation and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 22.2. Each such conversion or continuation shall be effected by LPL – Conformed A&R Credit Agreement the Borrower giving the Administrative Agent at the Administrative Agent’s Office prior to 1:00 p.m. (New York City time) at least (i) three Business Days’, in the case of a continuation of, or conversion to, Eurodollar Loans or (ii) one Business Day’s, in the case of a conversion into ABR Loans, prior written notice (or telephonic notice promptly confirmed in writing) (each, a “Notice of Conversion or Continuation”) specifying the Loans to be so converted or continued, the Type of Loans to be converted into or continued, the requested date of the conversion or continuation, as the case may be (which shall be a Business Day), the principal amount of Loans to be converted or continued, as the case may be, and, if such Loans are to be converted into, or continued as, Eurodollar Loans, the Interest Period to be initially applicable thereto. If the Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans shall be made or continued as the same Type of Loan, which, if a Eurodollar Loan, shall have the same Interest Period as that of the Loans being continued or converted (subject to the definition of Interest Period). Any such automatic continuation shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurodollar Loans. If the Borrower requests a conversion to, or continuation of Eurodollar Loans in any such Notice of Conversion of Continuation, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month’s duration. Notwithstanding anything to the contrary herein, a Swingline Loan may not be converted to a Eurodollar Loan. The Administrative Agent shall give each applicable Lender notice as promptly as practicable of any such proposed conversion or continuation affecting any of its Loans.
(b) If an Event of Default is in existence at the time of any proposed continuation of any Eurodollar Loans and the Administrative Agent has, or the Required Lenders with respect to any such continuation have, determined in its or their sole discretion not to permit such continuation, Eurodollar Loans shall be automatically converted on the last day of the current Interest Period into ABR Loans.
Appears in 1 contract
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, Day to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period or to continue the outstanding principal amount of any Eurodollar Revolving Credit Loans as Eurodollar Revolving Credit Loans for an additional Interest Period; , provided that (i) no partial conversion of Eurodollar Revolving Credit Loans shall reduce the outstanding principal amount of Eurodollar Revolving Credit Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) ABR Loans may not be converted into Eurodollar Revolving Credit Loans if an a Default or Event of Default is in existence on the date of the conversion and the Administrative Agent has, has or the Required Credit Facility Lenders with respect to any such Credit Facility have, have determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar Revolving Credit Loans may not be continued as Eurodollar Revolving Credit Loans for an additional Interest Period if an a Default or Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, has or the Required Credit Facility Lenders with respect to any such Credit Facility have, have determined in its or their sole discretion not to permit such continuation and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.Section
Appears in 1 contract
Samples: Revolving Credit Agreement (Kindercare Learning Centers Inc /De)
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, Day to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans made to the Borrower, as applicable, of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period any Business Day to continue the outstanding principal amount of any Eurodollar LIBOR Term Loans as Eurodollar LIBOR Term Loans or any LIBOR Revolving Credit Loans as LIBOR Revolving Credit Loans, as the case may be, for an additional Interest Period; , provided that (i) no partial conversion of Eurodollar such Loans shall reduce the outstanding principal amount of Eurodollar such LIBOR Term Loans or LIBOR Revolving Credit Loans, as applicable, made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) (A) ABR Loans may not be converted into Eurodollar LIBOR Loans if an Event of Default is in existence on the date of the conversion and the Administrative Agent has, or the Required (B) LIBOR Revolving Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar Loans may not be continued as Eurodollar Loans LIBOR Loans, as applicable, for an additional Interest Period Period, if an a Default or Event of Default is in existence on the date of the proposed continuation or conversion, as the case may be, and the Administrative Agent hashas or (1) in the case of Term Loans, or the Required Term Class Lenders, (2) in the case Revolving Credit Facility Lenders with respect to any such Credit Facility haveLoans, the Required Revolving Class Lenders, as applicable, have determined in its or their sole discretion not to permit such continuation conversion or continuation, as the case may be, and (iviii) Borrowings resulting from conversions of Loans pursuant to this Section 2.6 shall be limited in number as provided in Section 2.
Appears in 1 contract
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period to continue the outstanding principal amount of any Eurodollar Loans as Eurodollar Loans for an additional Interest Period; provided that (i) no partial conversion of Eurodollar Loans shall reduce the outstanding principal amount of Eurodollar Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) ABR Loans may not be converted into Eurodollar Loans if an Event of Default is in existence on the date of the conversion and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar Loans may not be continued as Eurodollar Loans for an additional Interest Period if an Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such continuation and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.such
Appears in 1 contract
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period to continue the outstanding principal amount of any Eurodollar Loans as Eurodollar Loans for an additional Interest Period; provided that (i) no partial conversion of Eurodollar Loans shall reduce the outstanding principal amount of Eurodollar Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) ABR Loans may not be converted into Eurodollar Loans if an Event of Default is in existence on the date of the conversion and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar Loans may not be continued as Eurodollar Loans for an additional Interest Period if an Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such continuation and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.and
Appears in 1 contract
Samples: Incremental Tranche B Term Loans (LPL Financial Holdings Inc.)
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, Day to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period or to continue the outstanding principal amount of any Eurodollar Loans as Eurodollar Loans for an additional Interest Period; , provided that (i) no partial conversion of Eurodollar Loans shall reduce the outstanding principal amount of Eurodollar Loans made pursuant to a single Borrowing to less than the Minimum minimum Borrowing Amount, (ii) ABR Loans may not be converted into Eurodollar Loans if an a Default or Event of Default is in existence on the date of the conversion and the Administrative Agent has, has or the Required Credit Facility Lenders with respect to any such Credit Facility have, have determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar Loans may not be continued as Eurodollar Loans for an additional Interest Period if an a Default or Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, has or the Required Credit Facility Lenders with respect to any such Credit Facility have, have determined in its or their sole discretion not to permit such continuation and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.Section
Appears in 1 contract
Samples: Credit Agreement (Borden Chemicals & Plastics Limited Partnership /De/)
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, Day to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period or to continue the outstanding principal amount of any Eurodollar Loans as Eurodollar Loans for an additional Interest Period; provided , PROVIDED that (i) no partial conversion of Eurodollar Loans shall reduce the outstanding principal amount of Eurodollar Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) ABR Loans may not be converted into Eurodollar Loans if an a Default or Event of Default is in existence on the date of the conversion and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, Lender has determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar Loans may not be continued as Eurodollar Loans for an additional Interest Period if an a Default or Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, Lender has determined in its or their sole discretion not to permit such continuation and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 2.5 shall be limited in number as provided in Section 2.
Appears in 1 contract
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, Day to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Loans or Revolving Credit Loans or Extended Revolving Credit Loans made to the Borrower, as applicable, of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period any Business Day to continue the outstanding principal amount of any Eurodollar LIBOR Term Loans as Eurodollar LIBOR Term Loans or any LIBOR Revolving Credit Loans as LIBOR Revolving Credit Loans, as the case may be, for an additional Interest Period; , provided that (i) no partial conversion of Eurodollar such Loans shall reduce the outstanding principal amount of Eurodollar such LIBOR Term Loans or LIBOR Revolving Credit Loans, as applicable, made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) (A) ABR Loans may not be converted into Eurodollar LIBOR Loans if an Event of Default is in existence on the date of the conversion and the Administrative Agent has, or the Required (B) LIBOR Revolving Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar Loans may not be continued as Eurodollar Loans LIBOR Loans, as applicable, for an additional Interest Period Period, if an a Default or Event of Default is in existence on the date of the proposed continuation or conversion, as the case may be, and the Administrative Agent hashas or (1) in the case of Term Loans, or the Required Term Loan Lenders, (2) in the case Revolving Credit Facility Lenders with respect to any such Loans, the Required Revolving Credit Facility haveLenders, as applicable, have determined in its or their sole discretion not to permit such continuation conversion or continuation, as the case may be, and (iviii) Borrowings resulting from conversions of Loans pursuant to this Section 2.6 shall be limited in number as provided in Section 2.
Appears in 1 contract
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, Day to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period or to continue the outstanding principal amount of any Eurodollar Term Loans or Eurodollar Revolving Credit Loans as Eurodollar Term Loans or Eurodollar Revolving Credit Loans, as the case may be, for an additional Interest Period; , provided that (i) no partial conversion of Eurodollar Term Loans or Eurodollar Revolving Credit Loans shall reduce the outstanding principal amount of Eurodollar Term Loans or Eurodollar Revolving Credit Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) ABR Loans may not be converted into Eurodollar Term Loans or Eurodollar Revolving Credit Loans if an a Default or Event of Default is in existence on the date of the conversion and the Administrative Agent has, has or the Required Credit Facility Lenders with respect to any such Credit Facility have, have determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar Loans may not be continued as Eurodollar Term Loans or Eurodollar Revolving Credit Loans for an additional Interest Period if an a Default or Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, has or the Required Credit Facility Lenders with respect to any such Credit Facility have, have determined in its or their sole discretion not to permit such continuation and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.Section
Appears in 1 contract
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, Day to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period or to continue the outstanding principal amount of any Eurodollar Term Loans or Eurodollar Revolving Credit Loans as Eurodollar Term Loans or Eurodollar Revolving Credit Loans, as the case may be, for an additional Interest Period; , provided that (i) no partial conversion of Eurodollar Term Loans or Eurodollar Revolving Credit Loans shall reduce the outstanding principal amount of Eurodollar Term Loans or Eurodollar Revolving Credit Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Borrow ing Amount, (ii) ABR Loans may not be converted into Eurodollar Term Loans or Eurodollar Revolving Credit Loans if an a Default or Event of Default is in existence on the date of the conversion and the Administrative Agent has, has or the Required Credit Facility Lenders with respect to any such Credit Facility have, have determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar Loans may not be continued as Eurodollar Term Loans or Eurodollar Revolving Credit Loans for an additional Interest Period if an a Default or Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, has or the Required Credit Facility Lenders with respect to any such Credit Facility have, have determined in its or their sole discretion not to permit such continuation and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.Section
Appears in 1 contract
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period to continue the outstanding principal amount of any Eurodollar EurodollarTerm SOFR Rate Loans as Eurodollar EurodollarTerm SOFR Rate Loans for an additional Interest Period; provided that (i) no partial conversion of Eurodollar EurodollarTerm SOFR Rate Loans shall reduce the outstanding principal amount of Eurodollar EurodollarTerm SOFR Rate Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) ABR Loans may not be converted into Eurodollar EurodollarTerm SOFR Rate Loans if an Event of Default is in existence on the date of the conversion and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar EurodollarTerm SOFR Rate Loans may not be continued as Eurodollar EurodollarTerm SOFR Rate Loans for an additional Interest Period if an Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such continuation and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.
Appears in 1 contract
Samples: Amendment to Credit Agreement (LPL Financial Holdings Inc.)
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, Day to convert all or a portion equal to at least the Minimum Borrowing Amount $2,000,000 of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans of made to the Borrower from one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period any Business Day to continue the outstanding principal amount of any Eurodollar Loans as Eurodollar Loans for an additional Interest Period; , provided that (i) no partial conversion of Eurodollar Loans shall reduce the outstanding principal amount of Eurodollar Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount$2,000,000, (ii) ABR Loans may not be converted into Eurodollar Loans if an Event of a Default is in existence on the date of the conversion and the Administrative Agent has, has or the Required Credit Facility Lenders with respect to any such Credit Facility have, have determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar Loans may not be continued as Eurodollar Loans for an additional Interest Period if an Event of a Default is in existence on the date of the proposed continuation and the Administrative Agent has, has or the Required Credit Facility Lenders with respect to any such Credit Facility have, have determined in its or their sole discretion not to permit such continuation, (iv) no conversion or continuation of Eurodollar Loans may be made on a day other than the last day of the Interest Period applicable thereto and (ivv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.Section
Appears in 1 contract
Samples: Credit Agreement (Sealy Corp)
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, Day to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period or to continue the outstanding principal amount of any Eurodollar Term Loans or Eurodollar Revolving Credit Loans as Eurodollar Term Loans or Eurodollar Revolving Credit Loans, as the case may be, for an additional Interest Period; provided , PROVIDED that (i) no partial conversion of Eurodollar Term Loans or Eurodollar Revolving Credit Loans shall reduce the outstanding principal amount of Eurodollar Term Loans or Eurodollar Revolving Credit Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) ABR Loans may not be converted into Eurodollar Term Loans or Eurodollar Revolving Credit Loans if an a Default or Event of Default is in existence on the date of the conversion and the Administrative Agent has, has or the Required Credit Facility Lenders with respect to any such Credit Facility have, have determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar Loans may not be continued as Eurodollar Term Loans or Eurodollar Revolving Credit Loans for an additional Interest Period if an a Default or Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, has or the Required Credit Facility Lenders with respect to any such Credit Facility have, have determined in its or their sole discretion not to permit such continuation and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.Section
Appears in 1 contract
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, Day to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Dollar Revolving Credit Loans of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period any Business Day to continue the outstanding principal amount of any Eurodollar Term Loans or Eurodollar Revolving Credit Loans as Eurodollar Term Loans or Eurodollar Revolving Credit Loans, as the case may be, for an additional Interest Period; provided provided, that (i) no partial conversion of Eurodollar Term Loans or Eurodollar Revolving Credit Loans shall reduce the outstanding principal amount of Eurodollar Term Loans or Eurodollar Revolving Credit Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) ABR Loans may not be converted into Eurodollar Term Loans or Eurodollar Revolving Credit Loans if an a Default or Event of Default is in existence on the date of the conversion and the Administrative Agent has, has or the Required Credit Facility Lenders with respect to any such Credit Facility have, have determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar Loans may not be continued as Eurodollar Term Loans or Eurodollar Revolving Credit Loans for an additional Interest Period if an a Default or Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, has or the Required Credit Facility Lenders with respect to any such Credit Facility have, have determined in its or their sole discretion not to permit such continuation and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.
Appears in 1 contract
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day or U.S. Government Securities Business Day, as applicable, subject to Section 2.11, to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period to continue the outstanding principal amount of any Eurodollar EurodollarSOFR Loans as Eurodollar EurodollarSOFR Loans for an additional Interest Period; provided that (i) no partial conversion of Eurodollar EurodollarSOFR Loans shall reduce the outstanding principal amount of Eurodollar EurodollarSOFR Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) ABR Loans may not be converted into Eurodollar EurodollarSOFR Loans if an Event of Default is in existence on the date of the conversion and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar EurodollarSOFR Loans may not be continued as Eurodollar EurodollarSOFR Loans for an additional Interest Period if an Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such continuation and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.Section
Appears in 1 contract
Conversions and Continuations. (a) The Subject to the penultimate sentence of this clause (a), (i) the Borrower shall have the option on any Business Day, subject to Section 2.11, Day to convert all or a portion equal to at least the Minimum Borrowing Amount $1,000,000 (and in multiples of $100,000 in excess thereof) of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein (ii) the Borrower shall have the option on the last day of an Interest Period any Business Day to continue the outstanding principal amount of any Eurodollar LIBOR Loans as Eurodollar LIBOR Loans for an additional Interest Period; provided that (iA) no partial conversion of Eurodollar LIBOR Loans shall reduce the outstanding principal amount of Eurodollar LIBOR Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount$1,000,000, (iiB) ABR Loans may not be converted into Eurodollar LIBOR Loans if an Event of Default is in existence on the date of the conversion and the Administrative Agent has, has or the Required Credit Facility Lenders Majority Revolving Lenders, with respect to any such Credit Facility havea Revolving Borrowing and the Majority Term Loan Lenders, with respect to a Term Loan Borrowing, have determined in its or their sole discretion not to permit such conversion, (iiiC) Eurodollar LIBOR Loans may not be continued as Eurodollar LIBOR Loans for an additional Interest Period if an Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, has or the Required Credit Facility Lenders Majority Revolving Lenders, with respect to any such Credit Facility havea Revolving Borrowing, and the Majority Term Loan Lenders, with respect to a Term Loan Borrowing, have determined in its or their sole discretion not to permit such continuation continuation, and (ivD) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.Section
Appears in 1 contract
Samples: Credit Agreement
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans of one Type into a Borrowing or Borrowings of another Type and except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period to continue the outstanding principal amount of any Eurodollar Loans as Eurodollar Loans for an additional Interest Period; provided that (i) no partial conversion of Eurodollar Loans shall reduce the outstanding principal amount of Eurodollar Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) ABR Loans may not be converted into Eurodollar Loans if an Event of Default is in existence on the date of the conversion and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such conversionconversion (or, in the case of an Event of Default under Section 11.1(a) or 11.1(e), without any such determination), (iii) Eurodollar Loans may not be continued as Eurodollar Loans for an additional Interest Period if an Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such continuation (or, in the case of an Event of Default under Section 11.1(a) or 11.1(e), without any such determination), and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.NY\6379601.11
Appears in 1 contract
Samples: Credit Agreement (Amsurg Corp)
Conversions and Continuations. (a) The Borrower shall have the option on any Business Day, subject to Section 2.11, to convert all or a portion equal to at least the Minimum Borrowing Amount of the outstanding principal amount of Term Loans, Revolving Credit Loans, Additional/Replacement Revolving Credit Loans or Extended Revolving Credit Loans Loans, in each case denominated in Dollars or Alternative Currencies of one Type into a Borrowing or Borrowings of another Type and Type, in each case denominated in Dollars or Alternative Currencies, and, except as otherwise provided herein the Borrower shall have the option on the last day of an Interest Period to continue the outstanding principal amount of any Eurodollar Fixed Rate Loans as Eurodollar Fixed Rate Loans denominated in the same currency for an additional Interest Period; provided that (i) no partial conversion of Eurodollar Fixed Rate Loans shall reduce the outstanding principal amount of Eurodollar Fixed Rate Loans made pursuant to a single Borrowing to less than the Minimum Borrowing Amount, (ii) ABR Loans may not be converted into Eurodollar Fixed Rate Loans if an Event of Default is in existence on the date of the conversion and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such conversion, (iii) Eurodollar Fixed Rate Loans may not be continued as Eurodollar Fixed Rate Loans for an additional Interest Period if an Event of Default is in existence on the date of the proposed continuation and the Administrative Agent has, or the Required Credit Facility Lenders with respect to any such Credit Facility have, determined in its or their sole discretion not to permit such continuation continuation, and (iv) Borrowings resulting from conversions pursuant to this Section 2.6 shall be limited in number as provided in Section 2.Section
Appears in 1 contract
Samples: Incremental Agreement to Credit Agreement (Snap One Holdings Corp.)