Common use of Conversions and Elections of Subsequent Interest Periods Clause in Contracts

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 Event of Default shall have occurred and be continuing and subject Subject to the limitations set forth below and in Sections 3.1(b), 3.2 and 3.3 hereofARTICLE IV, the Borrower may: (a) upon delivery delivery, effective upon receipt, of a properly completed Interest Rate Selection Notice to the Lender on or before 11:00 10:30 A.M. Eastern Time 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 delivery, effective upon receipt, of a properly completed Interest Rate Selection Notice to the Lender on or before 11:00 10:30 A.M. Eastern Time 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 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 dateBusiness Day. Each election and conversion Conversion pursuant to this Section 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 SECTIONS 2.1, 2.3 and Article IV hereofARTICLE IV.

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 Sections 3.1(b), 3.2 and 3.3 hereofARTICLE IV, the Borrower may: (a) upon delivery delivery, effective upon receipt, of a properly completed Interest Rate Selection Notice to the Lender on or before 11:00 10:30 A.M. Eastern Time on any Business Day, convert all or a part of Eurodollar LIBOR Rate Loans to Base Rate Loans on the last day of the Interest Period for such Eurodollar LIBOR Rate Loans; and (b) upon delivery delivery, effective upon receipt, of a properly completed Interest Rate Selection Notice to the Lender on or before 11:00 10:30 A.M. Eastern 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 LIBOR Rate Loans to begin on the last day of the then current Interest Period for such Eurodollar LIBOR Rate Loans; and (ii) convert Base Rate Loans to Eurodollar LIBOR Rate Loans on any dateBusiness Day. Each election and conversion pursuant to this Section SECTION 2.7 shall be subject to the limitations on Eurodollar LIBOR Rate Loans set forth in the definition of "Interest Period" herein and in Sections SECTIONS 2.1, 2.3 and Article IV hereofARTICLE IV.