Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IV, the Borrowers may:
(a) upon delivery, effective upon receipt, of a properly completed Interest Rate Selection Notice to the Agent on or before 10:30 A.M. on any Business Day, Convert all or a part of Eurodollar Rate Loans to Base Rate Loans on the last day of the Interest Period for such Eurodollar Rate Loans; and
(b) provided that no Default or Event of Default shall have occurred and be continuing and upon delivery, effective upon receipt, of a properly completed Interest Rate Selection Notice to the Agent on or before 10:30 A.M. three (3) Business Days' prior to the date of such election or Conversion:
(i) elect a subsequent Interest Period for all or a portion of Eurodollar Rate Loans to begin on the last day of the then current Interest Period for such Eurodollar Rate Loans; and
(ii) Convert Base Rate Loans to Eurodollar Rate Loans on any Business Day. Each election and Conversion pursuant to this Section 2.8 shall be subject to the limitations on Eurodollar Rate Loans set forth in the definition of "Interest Period" herein and in Sections 2.1, 2.3 and Article IV. The Agent shall give written notice to each Lender of such notice of election or Conversion prior to 3:00 P.M. on the day such notice of election or Conversion is received. All such Continuations or Conversions of Loans shall be effected pro rata based on the Applicable Commitment Percentages of the Lenders.
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth in the definition of “Interest Period,” in Sections 2.1(c)(iii) and 3.1 and in Article IV, the Borrower may:
(a) upon delivery of telephonic notice to the Agent (which shall be irrevocable) on or before 12:00 noon on any Business Day, Convert any Eurocurrency Rate Revolving Loan denominated in Dollars to a Base Rate Revolving Loan on the last day of the Interest Period for such Eurocurrency Rate Revolving Loan; and
(b) provided that no Default or Event of Default shall have occurred and be continuing, upon delivery of telephonic notice to the Agent (which shall be irrevocable) on or before 12:00 noon three (3) Business Days’ prior to the date of such Conversion or Continuation:
(i) elect a subsequent Interest Period for any Eurocurrency Rate Loan to begin on the last day of the then current Interest Period for such Eurocurrency Rate Loan (subject to Section 2.3 with respect to any Eurocurrency Rate Loan denominated in any Alternative Currency); or
(ii) Convert any Base Rate Revolving Loan to a Eurocurrency Rate Loan denominated in Dollars on any Business Day. Subject to Section 2.3(b), failure by the Borrower to elect a Conversion or a Continuation or to provide notice of payment shall result in the automatic Continuation or Conversion, as the case may be, of the applicable Loan as a Eurocurrency Rate Loan with an Interest Period of one month. Each such notice shall be effective upon receipt by the Agent, shall specify the amount of the affected Eurocurrency Rate Loan, the Type of Revolving Loan, and, if a Continuation as or Conversion into a Eurocurrency Rate Loan, the Interest Period to be used in the computation of interest. The Authorized Representative shall provide the Agent written confirmation of each such telephonic notice in the form of a Borrowing Notice or Interest Rate Selection Notice (as applicable) with appropriate insertions but failure to provide such confirmation shall not affect the validity of such telephonic notice. Notice of receipt of such Borrowing Notice or Interest Rate Selection Notice, as the case may be, shall be provided by the Agent to each Lender by telefacsimile transmission with reasonable promptness, but (provided the Agent shall have received such notice by 12:00 noon) not later than 3:00 P.M. on the same day as the Agent’s receipt of such notice. All such Continuations or Conversions of Revolving Loans shall be effected pro rata based on the Applicable Commitment Percentages of the ...
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IV hereof, the Borrower may:
(a) upon notice to the Administrative Agent on or before 12:00 noon on any Business Day Convert all or a part of Eurodollar Loans to Base Rate Loans on the last day of the Interest Period for such Eurodollar Loans; and
(b) provided that no Default or Event of Default shall have occurred and be continuing and on three (3) Business Days’ notice to the Administrative Agent on or before 12:00 noon:
(i) elect a subsequent Interest Period for all or a portion of Eurodollar Loans to begin on the last day of the current Interest Period for such Eurodollar Loans; or
(ii) Convert Base Rate Loans (other than Swing Line Loans) to Eurodollar Loans on any Business Day. Notice of any such elections or Conversions shall specify the effective date of such election or Conversion and, with respect to Eurodollar Loans, the Interest Period to be applicable to the Loan as Continued or Converted. Each election and Conversion pursuant to this Section 2.12 shall be subject to the limitations on Eurodollar Loans set forth in the definition of “Interest Period” herein and in Article IV hereof. All such Continuations or Conversions of Loans shall be effected pro rata based on the Revolving Percentages or Term Percentages of the applicable Lenders, as the case may be.
Conversions and Elections of Subsequent Interest Periods. The Borrower may:
(a) upon notice to the Agent on or before 11:30 A.M. Charlotte, North Carolina time on any Business Day Convert all or a part of Eurodollar Loans to Base Rate Loans on the last day of the Interest Period for such Eurodollar Loans; and
(b) provided that no Default or Event of Default shall have occurred and be continuing and subject to the limitations set forth below and in Sections 4.01, 4.02 and 4.03 hereof, on three (3) Eurodollar Business Days' notice to the Agent on or before 11:30 A.M. Charlotte, North Carolina time:
(i) Continue Eurodollar Loans and elect a subsequent Interest Period for all or a portion of Eurodollar Loans to begin on the last day of the current Interest Period for such Eurodollar Loans; or
(ii) Convert Base Rate Loans (other than Swing Line Loans) to Eurodollar Loans on any Eurodollar Business Day. Notice of any such Continuation or Conversion shall specify the effective date of such Continuation or Conversion and, with respect to Eurodollar Loans, the Interest Period to be applicable to the Loan as Continued or Converted. Each Continuation and Conversion pursuant to this Section 2.11 shall be subject to the limitations on Eurodollar Loans set forth in the definition of "Interest Period" herein and in Sections 2.01(a), (b) and (c) and Article IV hereof. All such Continuations or Conversions of Loans shall be effected pro rata based on the Applicable Commitment Percentages of the Lenders.
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IV, the Borrowers may:
(a) upon delivery, effective upon receipt, of a properly completed Interest Rate Selection Notice to the Agent on or before 10:30 A.M. on any Business Day, Convert all or a part of Eurodollar Rate Loans to Base Rate Loans on the last day of the Interest Period for such Eurodollar Rate Loans; provided, that a Conversion of Eurodollar Rate Loans into Base Rate Loans shall be made by Borrower only in anticipation of a prepayment of such Base Rate Loans within one week after such Conversion; and
(b) provided that no Default or Event of Default shall have occurred and be continuing and upon delivery, effective upon receipt, of a properly completed Interest Rate Selection Notice to the Agent on or before 10:30 A.M. three (3) Business Days' prior to the date of such election or Conversion:
(i) elect a subsequent Interest Period for all or a portion of Eurodollar Rate Loans to begin on the last day of the then current Interest Period for such Eurodollar Rate Loans; and
(ii) Convert Base Rate Loans to Eurodollar Rate Loans on any Business Day (and shall so Convert any Base Rate Loan to a Eurodollar Rate Loan within one week after the borrowing date therefor). Each election and Conversion pursuant to this Section 2.7 shall be subject to the limitations on Eurodollar Rate Loans set forth in the definition of "Interest Period" herein and in Sections 2.1, 2.3 and Article IV. The Agent shall give written notice to each Lender of such notice of election or Conversion prior to 3:00 P.M. on the day such notice of election or Conversion is received. All such Continuations or Conversions of Loans shall be effected pro rata based on the Applicable Commitment Percentages of the Lenders.
Conversions and Elections of Subsequent Interest Periods. Provided that no Event of Default shall have occurred and be continuing and subject to the limitations set forth below and in Sections 3.1(b), 3.2 and 3.3 hereof, the Borrower may:
(a) upon delivery of a properly completed Interest Rate Selection Notice to the Lender on or before 11:00 A.M. Eastern Time on any Business Day, convert all or a part of Eurodollar Rate Loans to Base Rate Loans on the last day of the Interest Period for such Eurodollar Rate Loans; and
(b) upon delivery of a properly completed Interest Rate Selection Notice to the Lender on or before 11:00 A.M. Eastern Time three (3) Business Days prior to the date of such election or conversion:
(i) elect a subsequent Interest Period for all or a portion of Eurodollar Rate Loans to begin on the last day of the current Interest Period for such Eurodollar Rate Loans; and
(ii) convert Base Rate Loans to Eurodollar Rate Loans on any date. Each election and conversion pursuant to this Section 2.7 shall be subject to the limitations on Eurodollar Rate Loans set forth in the definition of "Interest Period" herein and in Sections 2.1, 2.3 and Article IV hereof.
Conversions and Elections of Subsequent Interest Periods. Provided that no Default or Event of Default shall have occurred and be continuing and subject to the limitations set forth below and in Article VI hereof, the Canadian Facility Borrower may request a Conversion or Continuation provided that:
(a) the proceeds are used to retire the outstanding Canadian Facility Loan (the "Outstanding Loan");
(b) the Conversion or Continuance would otherwise be a permitted Canadian Facility Advance hereunder and the Canadian Facility Borrower complies with each provision hereof relative to the obtaining of a Canadian Facility Advance;
(c) the aggregate principal amount of the Conversion or Continuance is not greater than the Outstanding Loan plus accrued interest in the case of Canadian Facility BA Rate Loans rounded up to the nearest CAN $100,000; and
(d) each Conversion or Continuance is made contemporaneously with the retirement of the Outstanding Loan. Notice of any such Conversions or Continuation shall be effected by receipt of an appropriate Borrowing Notice and shall specify the effective date of such Conversion or Continuation and the Interest Period to be applicable to the Canadian Facility Loan as Continued or Converted and the Outstanding Loan to be retired. Each Continuation and Conversion pursuant to this Section 4.08 shall be subject to the limitations on Canadian Facility BA Rate Loans set forth in the definition of "Interest Period" herein and in Sections 4.01 and 4.03 and Article VI hereof. All such Continuations or Conversions of Canadian Facility Loans shall be effected pro rata based on the Applicable Fronting Percentages of the Canadian Facility Lenders for the Canadian Facility.
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article VI hereof, the Australian Facility Borrowers may:
(a) upon notice to the Australian Facility Agent on or before 11:00 A.M. (Sydney, Australia time) on any Business Day, Convert all or a part of Offshore Rate Loans to Australian Facility Base Rate Loans under the Australian Facility on the last day of the Interest Period for such Offshore Rate Loans; and
(b) provided that no Default or Event of Default shall have occurred and be continuing, upon five (5) Business Days' notice to the Australian Facility Agent prior to 11:00 A.M. (Sydney, Australia time):
(i) elect a subsequent Interest Period for all or a portion of Offshore Rate Loans under the Australian Facility to begin on the last day of the then current Interest Period for such Offshore Rate Loans; and
(ii) Convert Australian Facility Base Loans to Offshore Rate Loans under the Australian Facility on any Business Day. Notice of any such Continuations or Conversions shall be effected by receipt of an appropriate Borrowing Notice and shall specify the effective date of such Continuation or Conversion and the Interest Period to be applicable to the Australian Facility Loan as Continued or Converted. Each Continuation and Conversion pursuant to this Section 5.08 shall be subject to the limitations on Offshore Rate Loans set forth in the definition of "Interest Period" herein and in Section 5.01 and 5.03 and Article VI hereof. All such Continuations or Conversions of Australian Facility Loans shall be effected pro rata based on the Applicable Fronting Percentages of the Australian Facility Lenders for the Australian Facility and shall be in the same currency as the original such Loan.
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article VI hereof, and provided that no Default or Event of Default shall have occurred and be continuing, the UK Facility Borrowers may, upon three (3) Business Days' notice to the UK Facility Agent prior to 11:00 A.M. (London, England time) in the case of an Offshore Rate Loan in British Pounds Sterling and four (4) Business Days' notice to the UK Facility Agent prior to 11:00 A.M. (London, England time) in the case of an Offshore Rate Loan in French Francs, elect a subsequent Interest Period for all or a portion of Offshore Rate Loans under the UK Facility to begin on the last day of the then current Interest Period for such Offshore Rate Loans. Notice of any such Continuations shall be effected by receipt of an appropriate Borrowing Notice and shall specify the effective date of such Continuation and the Interest Period to be applicable to the UK Facility Loan as Continued. Each Continuation pursuant to this Section 3.08 shall be subject to the limitations on Offshore Rate Loans set forth in the definition of "Interest Period" herein and in Section 3.01 and 3.03 and Article VI hereof. All such Continuations of UK Facility Loans shall be
Conversions and Elections of Subsequent Interest Periods. Provided that no Default or Event of Default shall have occurred and be continuing and subject to the limitations set forth below and in Article IV hereof, the Multicurrency Facilities Borrowers may:
(a) upon notice to the Agent on or before 10:30 A.M. Charlotte, North Carolina time on any Business Day Convert all or a part of Fixed Rate Loans (other than Competitive Bid Loans) to Floating Rate Loans under the Domestic Revolving Credit Facility on the last day of the Interest Period for such Fixed Rate Loans;
(b) on three (3) or in the case of Conversions into or Continuations of Domestic Loans as Fixed CD Loans two (2)) Business Days' notice to the Agent on or before 10:30 A.M. Charlotte, North Carolina time:
(i) elect a subsequent Interest Period for all or a portion of Fixed Rate Loans (other than Competitive Bid Loans) under the Domestic Revolving Credit Facility in Dollars or any Alternate Currency to begin in the same currency on the last day of the current Interest Period for such Fixed Rate Loans;
(ii) elect that any Fixed Rate Loan in Dollars (other than Competitive Bid Loans) under the Domestic Revolving Credit Facility be Converted on the last day of the Interest Period for any Fixed Rate Loan into another Fixed Rate Loan in Dollars; and
(iii) Convert Floating Rate Loans under the Domestic Revolving Credit Facility to Fixed Rate Loans (other than Competitive Bid Loans) on any Business Day.
