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.
Appears in 4 contracts
Samples: Credit Agreement (Aircastle LTD), Credit Agreement (Aircastle LTD), Credit Agreement (Aircastle LTD)
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IVV, the Borrowers Borrower 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. (New York City time) on any Business Day, (x) 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 or (y) Continue all of any outstanding Borrowing of 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. (New York City time) three (3) Business Days' 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 Loan on any Business Day. Each election and Conversion or Continuation 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. V. The Agent shall give written notice to each Lender of such notice of election Conversion or Conversion prior to 3:00 P.M. (New York City time) on the day such notice of election election, Conversion or Conversion Continuation is received. All such Continuations or Conversions of Loans shall be effected pro rata based on the Applicable Commitment Percentages of the Lenders.
Appears in 3 contracts
Samples: Credit Agreement (Aircastle LTD), Credit Agreement (Aircastle LTD), Credit Agreement (Aircastle LTD)
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IVARTICLE V, the Borrowers Borrower 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 under the Revolving Credit Facility 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 continuing, 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 under the Revolving Credit Facility to begin on the last day of the then current Interest Period for such Eurodollar Rate Loans; and
(ii) Convert Base Rate Loans under the Revolving Credit Facility to Eurodollar Rate Loans on any Business Day. Each election and Conversion pursuant to this Section 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 SECTIONS 2.1, 2.3 and Article IV. ARTICLE V. 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.
Appears in 2 contracts
Samples: Credit Agreement (Coca Cola Bottling Group Southwest Inc), Credit Agreement (Texas Bottling Group Inc)
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IVVI, the Borrowers Borrower 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 3.8 hereof shall be subject to the limitations on Eurodollar Rate Loans set forth in the definition of "Interest Period" herein and in Sections 2.13.1, 2.3 3.3 and Article IVVI hereof. 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.
Appears in 2 contracts
Samples: Credit Agreement (Windmere Durable Holdings Inc), Credit Agreement (Windmere Durable Holdings Inc)
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IV, IV the Borrowers Borrower 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.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IVIII, the Borrowers Borrower may:
(a) upon delivery, effective upon receipt, of a properly completed Interest Rate Selection Notice to the Administrative Agent on or before 10:30 11:00 A.M. on any Business Day, Convert all or a part of Eurodollar Rate Loans under the Revolving Credit Facility 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 Administrative Agent on or before 10:30 A.M. 2:00 P.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 under the Revolving Credit Facility to begin on the last day of the then current Interest Period for such Eurodollar Rate Loans; and
(ii) Convert Base Rate Loans under the Revolving Credit Facility 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 IVIII. The Administrative 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.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IVARTICLE VI, the Borrowers Borrower may:
(a) upon delivery, 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 any Eurodollar Rate Loans Segment to a Base Rate Loans Segment on the last day of the Interest Period for such Eurodollar Rate LoansSegment; and
(b) provided that no Default or Event of Default shall have occurred and be continuing and continuing, upon delivery, 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 any Eurodollar Rate Loans Segment to begin on the last day of the then current Interest Period for such Eurodollar Rate LoansSegment; and
(ii) Convert any Base Rate Loans Segment to a Eurodollar Rate Loans Segment on any Business Day. Each election and Conversion pursuant to this Section 2.8 SECTION 2.11 shall be subject to the limitations on Eurodollar Rate Loans set forth in the definition of "Interest Period" herein and in Sections SECTIONS 2.1, 2.3 2.10 and Article IVARTICLE VI. 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.
Appears in 1 contract
Samples: Credit Agreement (Coca Cola Bottling Group Southwest Inc)
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IVARTICLE VI, the Borrowers Borrower 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 under the Revolving Credit Facility 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 continuing, 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 under the Revolving Credit Facility to begin on the last day of the then current Interest Period for such Eurodollar Rate Loans; and
(ii) Convert Base Rate Loans under the Revolving Credit Facility to Eurodollar Rate Loans on any Business Day. Each election and Conversion pursuant to this Section 2.8 SECTION 3.8 shall be subject to the limitations on Eurodollar Rate Loans set forth in the definition of "Interest Period" herein and in Sections 2.1SECTIONS 3.1, 2.3 3.3 and Article IVARTICLE VI. 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.
Appears in 1 contract
Samples: Credit Agreement (Coca Cola Bottling Group Southwest Inc)
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IVV, the Borrowers Borrower may:
(a) upon delivery, effective upon receipt, of a properly completed Interest Rate Selection Notice to the Agent on or before 10:30 11:00 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 11:00 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. V. 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.
Appears in 1 contract
Samples: Credit Agreement (Seacastle Inc.)
Conversions and Elections of Subsequent Interest Periods. Subject 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 IVARTICLE V, the Borrowers Borrower may:
(a) upon delivery, effective upon receipt, of a properly completed Interest Rate Selection Notice to the Agent on or before 10:30 11:00 A.M. on any Business Day, Convert 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 11:00 A.M. three (3) Business Days' prior to the date of such election or Conversionconversion:
(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 convert Base Rate Loans to Eurodollar Rate Loans on any Business Day. Each election and Conversion conversion pursuant to this Section 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 SECTIONS 2.1, 2.3 and Article IV. The Agent shall give written notice to ARTICLE V. Notice of receipt of each Lender of such notice of election or Conversion prior conversion shall be provided by the Agent to 3:00 each Lender by telefacsimile transmission with reasonable promptness, but (provided the Agent shall have received such notice by 11:00 A.M.) not later than 2:00 P.M. on the day same Business Day as the Agent's receipt of such notice of election or Conversion is receivednotice. All such Continuations continuations or Conversions conversions of Loans shall be effected pro rata based on the Applicable Commitment Percentages of the Lenders.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject 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 IVVI, the Borrowers Borrower 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 convert all or a part of Eurodollar Rate Loans under the Revolving Credit Facility 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 Conversionconversion:
(i) elect a subsequent Interest Period for all or a portion of Eurodollar Rate Loans under the Revolving Credit Facility to begin on the last day of the then current Interest Period for such Eurodollar Rate Loans; and
(ii) Convert convert Base Rate Loans under the Revolving Credit Facility to Eurodollar Rate Loans on any Business Day. Each election and Conversion conversion pursuant to this Section 2.8 3.8 shall be subject to the limitations on Eurodollar Rate Loans set forth in the definition of "Interest Period" herein and in Sections 2.13.1, 2.3 3.3 and Article IVVI. The Agent shall give written notice to each Lender of such notice of election or Conversion conversion prior to 3:00 P.M. on the day such notice of election or Conversion conversion is received. All such Continuations continuations or Conversions conversions of Loans shall be effected pro rata based on the Applicable Commitment Percentages of the Lenders.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IVV, the Borrowers Borrower may:
(a) upon delivery, effective upon receipt, of a properly completed Interest Rate Selection Notice to the Agent on or before 10:30 11:00 A.M. on any Business Day, Convert 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 11:00 A.M. three (3) Business Days' prior to the date of such election or Conversionconversion:
(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 convert Base Rate Loans to Eurodollar Rate Loans on any Business Day. Each election and Conversion 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. V. The Agent shall give written notice to each Lender of such notice of election or Conversion conversion prior to 3:00 P.M. on the day such notice of election or Conversion conversion is received. All such Continuations continuations or Conversions conversions of Loans shall be effected pro rata based on the Applicable Commitment Percentages of the Lenders.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IV, the Borrowers Borrower may:
(a) upon delivery, effective upon receipt, of a properly completed Interest Rate Selection Notice to the Administrative Agent on at 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 continuing, upon delivery, effective upon receipt, of a properly completed Interest Rate Selection Notice to the Administrative Agent on at or before 10:30 A.M. three (3)) Business Days' Days prior to the date of such election or Conversion:
(i) subject to Section 2.2(c), 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 2.9 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 2.2, 2.4 and Article IV. The Administrative 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.
Appears in 1 contract
Samples: Credit Agreement (Healthsouth Corp)
Conversions and Elections of Subsequent Interest Periods. Subject to -------------------------------------------------------- the limitations set forth below and in Article IVVI, the Borrowers Borrower may:: ----------
(a) upon delivery, delivery (effective upon receipt, ) of a properly completed Interest Rate Selection Notice to the Agent on or before 10:30 11:00 A.M. on any Business Day, Convert all or a part of convert any Eurodollar Rate Loans Segment to a Base Rate Loans Segment on the last day of the Interest Period for such Eurodollar Rate LoansSegment; and
(b) provided that no Default or Event of Default shall have occurred and be continuing and continuing, upon delivery, delivery (effective upon receipt, ) of a properly completed Interest Rate Selection Notice to the Agent on or before 10:30 11:00 A.M. three (3) Business Days' prior to the date of such election or Conversionconversion:
(i) elect a subsequent Interest Period for all or a portion of any Eurodollar Rate Loans Segment to begin on the last day of the then current Interest Period for such Eurodollar Rate LoansSegment; and
(ii) Convert convert any Base Rate Loans Segment to a Eurodollar Rate Loans Segment on any Business Day. Each election and Conversion conversion pursuant to this Section 2.8 2.10 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 2.9 and Article IVVI. The Agent shall give ----------------- ---------- written notice to each Lender of such notice of election or Conversion conversion prior to 3:00 1:00 P.M. on the day such notice of election or Conversion conversion is received. All such Continuations continuations or Conversions conversions of Loans Term Loan A or Term Loan B shall be effected pro rata based on the Applicable Commitment Percentages of the LendersLenders with respect to such Term Loan.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject 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 IVV, the Borrowers Borrower 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 11:00 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;
(iii) elect that any Eurodollar Rate Loan be converted from an Alternative Currency into another Alternative Currency on the last day of the Interest Period for any Eurodollar Rate Loan. 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. V. 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.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject 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, the Borrowers Borrower 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.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject 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, the Borrowers Borrower 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 convert all or a part of Eurodollar Rate Loans under the Bridge Facility 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' Days prior to the date of such election or Conversionconversion:
(i) elect a subsequent Interest Period for all or a portion of Eurodollar Rate Loans under the Bridge Facility to begin on the last day of the then current Interest Period for such Eurodollar Rate Loans; and
(ii) Convert convert Base Rate Loans under the Bridge Facility to Eurodollar Rate Loans on any Business Day. Each election and Conversion 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, 2.1 and 2.3 and Article IV. The Agent shall give written notice to each Lender of such notice of election or Conversion conversion prior to 3:00 P.M. on the day such notice of election or Conversion conversion is received. All such Continuations continuations or Conversions conversions of Loans shall be effected pro rata based on the Applicable Commitment Percentages of the Lenders.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IV, the The Borrowers may:: Subsequent Interest
(a) upon delivery, effective upon receipt, delivery of a properly completed Request For Advance/Interest Rate Selection Notice Election to the Agent on or before 10:30 A.M. Birmingham, Alabama time on any Business Day, Convert convert all or a part of Eurodollar Rate Loans Segments to Base Rate Loans Segments on the last day of the Interest Period for such Eurodollar Rate LoansSegments; 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 Article V hereof, upon delivery, effective upon receipt, delivery of a properly completed Request For Advance/Interest Rate Selection Notice Election to the Agent on or before 10:30 A.M. Birmingham, Alabama time three (3) Business Days' prior to the date of such election or Conversion:
(i) elect conversion, convert Base Rate Segments to Eurodollar Rate Segments on any date, or continue any Eurodollar Rate Segment by election of a subsequent Interest Period for all or a portion of Eurodollar Rate Loans to begin therefor 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 DaySegment. Each election and Conversion conversion pursuant to this Section 2.8 3.8 shall be subject to the limitations on Eurodollar Rate Loans set forth in the definition of "Interest Period" herein and in Sections 2.13.1, 2.3 3.4 and Article IVV hereof. The Agent shall give written notice to each Lender of such notice of election or Conversion conversion prior to 3:00 P.M. Birmingham, Alabama time on the day such notice of election or Conversion conversion is received. If the Agent does not receive a notice of election of duration of an Interest Period or to convert an outstanding Eurodollar Rate Segment by the time prescribed above, the Borrower shall be deemed to have elected to convert such Eurodollar Rate Segment to a Base Rate Segment on the last day of the Interest Period for such Eurodollar Rate Segment. All such Continuations continuations or Conversions conversions of Loans Segments shall be effected pro rata based on the Applicable Commitment Percentages of the Lenders.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IVV, the Borrowers Borrower 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. V. 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.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IV, the Borrowers may:
(a) upon 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, the Borrower may Convert all or a part of Eurodollar Rate Loans under the Revolving Credit Facility to Base Rate Loans on the last day of the Interest Period for such Eurodollar Rate Loans; and
(b) provided 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, the Borrower may, 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 under the Revolving Credit Facility to begin on the last day of the then current Interest Period for such Eurodollar Rate Loans; and
(ii) Convert Base Rate Loans under the Revolving Credit Facility to Eurodollar Rate Loans on any Business Day. Each election and Conversion pursuant to this Section 2.8 SECTION 3.8 shall be subject to the limitations on Eurodollar Rate Loans set forth in the definition of "Interest Period" herein and in Sections 2.1SECTIONS 3.1, 2.3 3.3 and Article IVARTICLE VI. 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.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IV, the Borrowers Borrower 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' 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 2.9 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 2.1 and 2.4 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.
Appears in 1 contract
Samples: Credit Agreement (Healthsouth Corp)
Conversions and Elections of Subsequent Interest Periods. Subject 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, the Borrowers Borrower 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 11:00 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;
(iii) elect that any Eurodollar Rate Loan be converted from an Alternative Currency into another Alternative Currency on the last day of the Interest Period for any Eurodollar Rate Loan. 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.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IVVI, the Borrowers Borrower may:
(a) upon delivery, effective upon receipt, of a properly completed Interest Rate Selection Notice to the Agent on or before 10:30 11:00 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 11:00 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 IVVI. 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 based, as applicable, on the Applicable Commitment Percentages of the Lenders.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IVVI, the Borrowers Borrower may:
(a) upon delivery, delivery (effective upon receipt, ) of a properly completed Interest Rate Selection Notice to the Agent on or before 10:30 11:00 A.M. on any Business Day, Convert all or a part of any Eurodollar Rate Loans Segment to a Base Rate Loans Segment on the last day of the Interest Period for such Eurodollar Rate LoansSegment; and
and 42 47 (b) provided that no Default or Event of Default shall have occurred and be continuing and continuing, upon delivery, delivery (effective upon receipt, ) of a properly completed Interest Rate Selection Notice to the Agent on or before 10:30 11:00 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 any Eurodollar Rate Loans Segment to begin on the last day of the then current Interest Period for such Eurodollar Rate LoansSegment; and
(ii) Convert any Base Rate Loans Segment to a Eurodollar Rate Loans Segment on any Business Day. Each election and Conversion pursuant to this Section 2.8 2.9 hereof 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 2.8 and Article IVVI hereof. The Agent shall give written notice to each Lender of such notice of election or Conversion prior to 3:00 1:00 P.M. on the day such notice of election or Conversion is received. All such Continuations or Conversions of Term Loans shall be effected pro rata based on the Applicable Commitment Percentages of the LendersLenders with respect to such Term Loan.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject Provided that no Default or Event of Default shall have occurred and be continuing and subject to the limitations set forth below in the definition of "Interest Period" and in Section 4.1 and Article IVV, the Borrowers Borrower may:
(a) upon delivery, effective upon receipt, of a properly completed Interest Rate Selection Notice after notice to the Administrative Agent on or before 10:30 A.M. on any Business Day, Convert all or a part of any Eurodollar Rate Loans Loan to a Base Rate Loans Loan on the last day of the Interest Period for such Eurodollar Rate LoansLoan; and
(b) provided that no Default or Event upon delivery of Default shall have occurred and be continuing and upon delivery, effective upon receipt, of a properly completed Interest Rate Selection Notice notice to the Administrative Agent on or before 10:30 A.M. three (3) Business Days' prior to the date of such election Conversion or ConversionContinuation:
(i) elect a subsequent Interest Period for all or a portion of any Eurodollar Rate Loans Loan to begin on the last day of the then current Interest Period for such Eurodollar Rate LoansLoan; andor
(ii) Convert any Base Rate Loans Loan to a Eurodollar Rate Loans Loan on any Business Day. No Swing Line Loan may be converted into any other type of Loan and none of such other types of Loans may be converted into Swing Line Loans. Each election and Conversion pursuant to this Section 2.8 such notice shall be subject effective upon receipt by the Administrative Agent, shall specify the amount of the Eurodollar Rate Loan affected and the effective date of such Continuation or Conversion, and, if a Continuation as or Conversion into a Eurodollar Rate Loan, the Interest Period to be applicable to the limitations on Eurodollar Rate Loans set forth Loan as Continued or Converted. Where telephonic notice is given, the Authorized Representative shall provide the Administrative Agent written confirmation of each such telephonic notice in the definition form of "a Borrowing Notice or Interest Period" herein and in Sections 2.1Rate 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, 2.3 and Article IV. The as the case may be, shall be provided by the Administrative Agent shall give written notice to each Lender of by telefacsimile transmission with reasonable promptness, but (provided the Administrative Agent shall have received such notice of election or Conversion prior to 3:00 by 10:30 A.M.) not later than 1:00 P.M. on the same day as the Administrative Agent's receipt of such notice of election or Conversion is receivednotice. All such Continuations or Conversions of Loans shall be effected pro rata based on the Applicable Commitment Percentages of the Lenders. Each election and conversion pursuant to this Section 4.2 shall be subject to the limitations on Eurodollar Rate Loans set forth in Sections 2.1(a), (b) and (c).
Appears in 1 contract
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 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.
Appears in 1 contract
Samples: Credit Agreement (Aircastle LTD)
Conversions and Elections of Subsequent Interest Periods. Subject 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 IVV, the Borrowers Borrower may:
(a) upon delivery, effective upon receipt, of a properly completed Interest Rate Selection Notice to the Agent on or before 10:30 11:00 A.M. on any Business Day, Convert 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; andand 28
(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 11:00 A.M. three (3) Business Days' prior to the date of such election or Conversionconversion:
(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 convert Base Rate Loans to Eurodollar Rate Loans on any Business Day. Each election and Conversion 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. V. The Agent shall give written notice to each Lender of such notice of election or Conversion conversion prior to 3:00 P.M. on the day such notice of election or Conversion conversion is received. All such Continuations continuations or Conversions conversions of Loans shall be effected pro rata based on the Applicable Commitment Percentages of the Lenders.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IVV, the Borrowers Borrower 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 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
and (b) provided that no Default or Event of Default shall have occurred and be continuing and continuing, 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:
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
and (ii) Convert convert Base Rate Loans to Eurodollar Rate Loans on any Business Day. Each election and Conversion 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, 2.1 and 2.3 and Article IV. V. The Agent shall give written notice to each Lender of such notice of election or Conversion conversion prior to 3:00 1:00 P.M. on the day such notice of election or Conversion conversion is received. All such Continuations continuations or Conversions conversions of Loans shall be effected pro rata based on the Applicable Commitment Percentages of the Lenders.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject -------------------------------------------------------- to the limitations set forth below and in Article IV, the Borrowers Borrower may:: ----------
(a) upon delivery, effective upon receipt, of a properly completed Interest Rate Selection Notice to the Administrative Agent on or before 10:30 11:00 A.M. on any Business Day, Convert all or a part of Eurodollar Rate Loans under the 364 Day Facility 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 Administrative Agent on or before 10:30 A.M. 2:00 P.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 under the 364 Day Facility to begin on the last day of the then current Interest Period for such Eurodollar Rate Loans; and
(ii) Convert Base Rate Loans under the 364 Day Facility 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 ----------------- ---------- Administrative 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.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject 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 IVV, the Borrowers Borrower 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 under either the Revolving Credit Facility or the Line of Credit Facility 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 under either the Revolving Credit Facility or the Line of Credit Facility to begin on the last day of the then current Interest Period for such Eurodollar Rate Loans; and
(ii) Convert Base Rate Loans under either the Revolving Credit Facility or the Line of Credit Facility to Eurodollar Rate Loans on any Business Day. Each election and Conversion pursuant to this Section 2.8 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. V. 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.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IV, the The Borrowers may:
(a) upon delivery, effective upon receipt, delivery of a properly completed Request For Advance/Interest Rate Selection Notice Election to the Agent on or before 10:30 A.M. Birmingham, Alabama time on any Business Day, Convert convert all or a part of Eurodollar Rate Loans Segments to Base Rate Loans Segments on the last day of the Interest Period for such Eurodollar Rate LoansSegments; 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 Article V hereof, upon delivery, effective upon receipt, delivery of a properly completed Request For Advance/Interest Rate Selection Notice Election to the Agent on or before 10:30 A.M. Birmingham, Alabama time three (3) Business Days' prior to the date of such election or Conversion:
(i) elect conversion, convert Base Rate Segments to Eurodollar Rate Segments on any date, or continue any Eurodollar Rate Segment by election of a subsequent Interest Period for all or a portion of Eurodollar Rate Loans to begin therefor 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 DaySegment. Each election and Conversion conversion pursuant to this Section 2.8 3.8 shall be subject to the limitations on Eurodollar Rate Loans set forth in the definition of "Interest Period" herein and in Sections 2.13.1, 2.3 3.4 and Article IVV hereof. The Agent shall give written notice to each Lender of such notice of election or Conversion conversion prior to 3:00 P.M. Birmingham, Alabama time on the day such notice of election or Conversion conversion is received. If the Agent does not receive a notice of election of duration of an Interest Period or to convert an outstanding Eurodollar Rate Segment by the time prescribed above, the Borrower shall be deemed to have elected to convert such Eurodollar Rate Segment to a Base Rate Segment on the last day of the Interest Period for such Eurodollar Rate Segment. All such Continuations continuations or Conversions conversions of Loans Segments shall be effected pro rata based on the Applicable Commitment Percentages of the Lenders.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IV, the Borrowers may:
(a) upon delivery, 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, the Borrower may Convert all or a part of any Eurodollar Rate Loans Segment to a Base Rate Loans Segment on the last day of the Interest Period for such Eurodollar Rate LoansSegment; and
(b) provided 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, the Borrower may upon delivery, 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 any Eurodollar Rate Loans Segment to begin on the last day of the then current Interest Period for such Eurodollar Rate LoansSegment; and
(ii) Convert any Base Rate Loans Segment to a Eurodollar Rate Loans Segment on any Business Day. 37 Each election and Continuation or Conversion pursuant to this Section 2.8 SECTION 2.11(B) shall be subject to the limitations on Eurodollar Rate Loans set forth in the definition of "Interest Period" herein and in Sections SECTIONS 2.1, 2.3 2.10 and Article IVARTICLE VI. 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.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IVIV hereof, the Borrowers Borrower 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. 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) 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 2.09 shall be subject to the limitations on Eurodollar Rate Loans set forth in the definition of "Interest Period" herein and in Sections 2.12.01, 2.3 2.02 and Article IV. The Agent shall give written notice to each Lender of such notice of election or Conversion prior to 3:00 2:00 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.
Appears in 1 contract
Samples: Revolving Credit and Reimbursement Agreement (Modis Professional Services Inc)
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IVV, the Borrowers Borrower 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. (New York City time) on any Business Day, (x) 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 or (y) Continue all of any outstanding borrowing of Eurodollar Rate Loans; and
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. (New York City time) three (3) Business Days' 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 Loan on any Business Day. Each election and Conversion or Continuation 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. V. The Agent shall give written notice to each Lender of such notice of election Conversion or Conversion prior to 3:00 P.M. (New York City time) on the day such notice of election election, Conversion or Conversion Continuation is received. All such Continuations or Conversions of Loans shall be effected pro rata based on the Applicable Commitment Percentages of the Lenders.
Appears in 1 contract
Samples: Credit Agreement (Aircastle LTD)
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IVV, the Borrowers Borrower 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 continuing, 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. V. 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.
Appears in 1 contract
Samples: Credit Agreement (Unicapital Corp)
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IVVI, the Borrowers Borrower may:
(a) upon delivery, effective upon receipt, of a properly completed Interest Rate Selection Notice to the Agent on or before 10:30 11:00 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 11:00 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 IVVI. 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 based, as applicable, on the Applicable Revolving Commitment Percentages of the Revolving Lenders, and the Applicable Term Loan B Commitment Percentage of the Term Loan B Lenders, if any.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject 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 IVV, the Borrowers Borrower 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 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 Conversionconversion:
(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 convert Base Rate Loans to Eurodollar Rate Loans on any Business Day. Each election and Conversion 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 V. Notice of receipt of each Lender of such notice of election or Conversion prior conversion shall be provided by the Agent to 3:00 each Lender by telefacsimile transmission with reasonable promptness, but (provided the Agent shall have received such notice by 10:30 A.M.) not later than 1:00 P.M. on the day same Business Day as the Agent's receipt of such notice of election or Conversion is receivednotice. All such Continuations continuations or Conversions conversions of Loans shall be effected pro rata based on the Applicable Commitment Percentages of the Lenders.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IVV, 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 11:00 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 continuing, upon delivery, effective upon receipt, of a properly completed Interest Rate Selection Notice to the Agent on or before 10:30 11:00 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. V. 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.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IV, the Borrowers Borrower 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 under the Revolving Credit Facility 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 continuing, 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 under either the Revolving Credit Facility or the Term Loan to begin on the last day of the then current Interest Period for such Eurodollar Rate Loans; and
(ii) Convert Base Rate Loans under the Revolving Credit Facility to Eurodollar Rate Loans on any Business Day. Each election and Conversion pursuant to this Section 2.8 2.11 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 2.2 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.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject 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 IVIV hereof, the Borrowers Borrower 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. Charlotte, North Carolina 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) 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) Euro 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 2.09 shall be subject to the limitations on Eurodollar Rate Loans set forth in the definition of "Interest Period" herein and in Sections 2.12.01, 2.3 2.02 and Article IV. The Agent shall give written notice to each Lender of such notice of election or Conversion prior to 3:00 2:00 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.
Appears in 1 contract
Samples: Revolving Credit and Reimbursement Agreement (Accustaff Inc)
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IVARTICLE V, 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 11:00 A.M. on any Business Day, Convert all or a part of Eurodollar Rate Loans Segments to Base Rate Loans Segments on the last day of the Interest Period for such Eurodollar Rate LoansSegments; and
(b) provided that no Default or Event of Default shall have occurred and be continuing and continuing, upon delivery, effective upon receipt, of a properly completed Interest Rate Selection Notice to the Agent on or before 10:30 11:00 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 Segments to begin on the last day of the then current Interest Period for such Eurodollar Rate LoansSegments; and
(ii) Convert Base Rate Loans Segments to Eurodollar Rate Loans Segments on any Business Day. Each election and Conversion pursuant to this Section 2.8 SECTION 2A.11 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 SECTIONS 2A.1 and Article IV. ARTICLE V. 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 Segments shall be effected pro rata based on the Applicable Commitment Percentages of the Lenders.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject 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, the Borrowers ---------- Borrower 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.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IVARTICLE VI, the Borrowers Borrower may:
(a) upon delivery, effective upon receipt, of a properly completed Interest Rate Selection Notice to the Agent on or before 10:30 11:00 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 11:00 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 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 SECTIONS 2.1, 2.3 and Article IVARTICLE VI. 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 Revolving Loans shall be effected pro rata based on the Applicable Commitment Percentages of the Lenders.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IVV, 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. V. 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.
Appears in 1 contract
Samples: Credit Agreement (Aircastle LTD)
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IVVI, the Borrowers Borrower may:
(a) upon delivery, delivery (effective upon receipt, ) of a properly completed Interest Rate Selection Notice to the Agent on or before 10:30 11:00 A.M. on any Business Day, Convert all or a part of any Eurodollar Rate Loans Segment to a Base Rate Loans Segment on the last day of the Interest Period for such Eurodollar Rate LoansSegment; and
(b) provided that no Default or Event of Default shall have occurred and be continuing and continuing, upon delivery, delivery (effective upon receipt, ) of a properly completed Interest Rate Selection Notice to the Agent on or before 10:30 11:00 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 any Eurodollar Rate Loans Segment to begin on the last day of the then current Interest Period for such Eurodollar Rate LoansSegment; and
(ii) Convert any Base Rate Loans Segment to a Eurodollar Rate Loans Segment on any Business Day. Each election and Conversion pursuant to this Section 2.8 2.9 hereof 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 2.8 and Article IVVI hereof. The Agent shall give written notice to each Lender of such notice of election or Conversion prior to 3:00 1:00 P.M. on the day such notice of election or Conversion is received. All such Continuations or Conversions of Term Loans shall be effected pro rata based on the Applicable Commitment Percentages of the LendersLenders with respect to such Term Loan.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IVV, the Borrowers Borrower 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. (New York City time) on any Business Day, (x) Convert all or a part of Eurodollar Rate SOFR Loans to Base Rate Loans on the last day of the Interest Period for such Eurodollar Rate SOFR Loans or (y) Continue all of any outstanding borrowing of SOFR Loans; and
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. (New York City time) three (3) U.S. Government Securities Business Days' 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 SOFR Loan on any Business Day. Each election and Conversion or Continuation pursuant to this Section 2.8 shall be subject to the limitations on Eurodollar Rate SOFR Loans set forth in the definition of "“Interest Period" ” herein and in Sections 2.1, 2.3 and Article IV. V. The Agent shall give written notice to each Lender of such notice of election Conversion or Conversion prior to 3:00 P.M. (New York City time) on the day such notice of election election, Conversion or Conversion Continuation is received. All such Continuations or Conversions of Loans shall be effected pro rata based on the Applicable Commitment Percentages of the Lenders.
Appears in 1 contract
Samples: Credit Agreement (Aircastle LTD)
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IV, the Borrowers Borrower 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' 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, 2.1 and 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.
Appears in 1 contract
Conversions and Elections of Subsequent Interest Periods. Subject to the limitations set forth below and in Article IVV, the applicable Borrower or Borrowers may:
(a) upon delivery, effective upon receipt, of a properly completed Interest Rate Selection Notice to the Agent on or before 10:30 11:00 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 continuing, upon delivery, effective upon receipt, of a properly completed Interest Rate Selection Notice to the Agent on or before 10:30 11:00 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;
(iii) elect that any Eurodollar Rate Loan be converted from an Alternative Currency into another Alternative Currency on the last day of the Interest Period for any Eurodollar Rate Loan. 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. V. 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.
Appears in 1 contract