Conversions of Loans. The Borrower shall have the right to convert Loans of one type into Loans of another type from time to time, provided that: (i) the Borrower shall give the Agent notice of each such conversion as provided in Section 2.3 hereof; (ii) LIBOR Loans may be converted only on the last day of an Interest Period for such Loans; and (iii) except as required by Sections 2.23, or 2.24 hereof, no Prime Rate Loan may be converted into a LIBOR Loan if on the proposed date of conversion a Default or an Event of Default exists. Notwithstanding the foregoing, Swing Line Loans may not be converted into LIBOR Loans. The Agent shall use its best efforts to notify the Borrower of the effectiveness of such conversion, and the new interest rate to which the converted Loans are subject, as soon as practicable after the conversion; pro- vided, however, that any failure to give such notice shall not affect the Borrower's obligations, or the Agent's or the Banks' rights and remedies, hereunder in any way whatsoever.
Conversions of Loans. The Borrowers shall have the right to convert Loans of one type into Loans of another type from time to time, provided that: (i) a Borrower shall give the Agent notice of each such conversion as provided in Section 2.2 hereof; (ii) LIBOR Loans may be converted only on the last day of an Interest Period for such Loans; and (iii) except as required by Sections 2.22 or 2.25 hereof, no ABR Loan may be converted into a LIBOR Loan if on the proposed date of conversion a Default or an Event of Default exists. The Agent shall use its best efforts to notify a Borrower of the effectiveness of such conversion, and the new interest rate to which the converted Loans are subject, as soon as practicable after the conversion; provided, however, that any failure to give such notice shall not affect the Borrowers' obligations, or the Agent's or the Banks' rights and remedies, hereunder in any way whatsoever.
Conversions of Loans. The Borrower shall have the right to convert Loans of one type into Loans of another type from time to time, provided that: (i) the Borrower shall give the Collateral Monitoring Agent notice of each such conversion as provided in Section 2.3 hereof; (ii) Eurodollar Loans may be converted only on the last day of an Interest Period for such Loans; and (iii) except as required by Section 2.17 hereof, no Prime Rate Loan may be converted into a Eurodollar Loan if on the proposed date of conversion a Default or an Event of Default exists. The Collateral Monitoring Agent shall use its best efforts to notify the Borrower of the effectiveness of such conversion, and the new interest rate to which the converted Loans are subject, as soon as practicable after the conversion; provided, however, that any failure to give such notice shall not affect the Borrower's obligations, or the Collateral Monitoring Agent's or the Lenders' rights and remedies, hereunder in any way whatsoever.
Conversions of Loans. 45 Section 2.24 Limitation on Types of Loans................................45 Section 2.25 Illegality..................................................46 Section 2.26 Indemnification.............................................46 Section 2.27 Certain Conversions Pursuant to Section 2.17................47
Conversions of Loans. Upon the terms and subject to the conditions and limitations of this Agreement, the Borrowers may convert all or any part of any outstanding Loan into a Loan of another Type on any Business Day (which, in the case of a conversion of an outstanding LIBOR Loan shall be the last day of the Interest Period applicable to such LIBOR Loan). The Borrowers shall give the Administrative Agent prior notice of each such conversion (which notice shall be effective upon receipt) in accordance with Section 2.3. Notwithstanding the foregoing, the Borrowers may not convert any Loan into a LIBOR Loan or continue a LIBOR Loan if there is a continuing Default.
Conversions of Loans. Each Borrower shall have the right to convert Loans of one type into Loans of another type from time to time, provided that: (i) such Borrower shall give the Administrative Agent notice of each such conversion as provided in Section 2.2 hereof; (ii) Eurodollar Loans may be converted only on the last day of an Interest Period for such Loans; and (iii) except as required by Sections 2.18 or 2.21 hereof, no Prime Rate Loan may be converted into a Eurodollar Loan if on the proposed date of conversion a Default or an Event of Default exists. The Administrative Agent shall use its best efforts to notify a Borrower of the effectiveness of such conversion, and the new interest rate to which the converted Loans are subject, as soon as practicable after the conversion; provided, however, that any failure to give such notice shall not affect either Borrower's obligations, or the Banks' or the Administrative Agent's rights and remedies, hereunder in any way whatsoever.
Conversions of Loans. The Borrowers shall have the right to convert Loans of one type into Loans of another type from time to time, provided that: (i) the Borrowers shall give the Bank notice of each such conversion as provided in Section 2.2; (ii) Fixed Rate Loans may be converted only on the last day of an Interest Period for such Loans; and (iii) except as required by Sections 2.17 or 2.20 hereof, no Prime Rate Loan may be converted into a Fixed Rate Loan if on the proposed date of conversion a Default or an Event of Default exists, and provided, further, that no Loan may be continued as or converted into a Fixed Rate Loan if such Fixed Rate Loan would have an Interest Period ending after the Maturity Date for such loan or a portion thereof. The Bank shall use its best efforts to notify the Borrowers of the effectiveness of such conversion, and the new interest rate to which the converted Loans are subject, as soon as practicable after the conversion; provided, however, that any failure to give such notice shall not affect the Borrowers’ obligations, or the Bank’s rights and remedies. hereunder in any way whatsoever.
Conversions of Loans. Borrower shall have the right to convert Base Rate Loans into LIBO Loans, and vice versa, from time to time, provided that: (i) Borrower shall give the Agent notice of each permitted conversion as provided in Section 2.3 hereof; (ii) LIBO Rate Loans may be converted only as of the last day of the applicable Interest Period for such Loans; and (iii) without the consent of each of the Banks, no Base Rate Loan may be converted into a LIBO Rate Loan and no Interest Period may be renewed if on the proposed date of conversion an Event of Default, or Potential Default, exists or would thereby occur. The Agent shall use its best efforts to notify Borrower of the effectiveness of such conversion, and the new interest rate to which the converted Loan is subject, as soon as practicable after the conversion; provided, however, that any failure to give such notice shall not affect Borrower's obligations or the Banks' rights and remedies hereunder in any way whatsoever.
Conversions of Loans. (a) An outstanding Loan may only be converted on the last day of the then current Interest Period (if applicable) with respect to such Loan, and provided, further, that upon the continuation or conversion of such Loan such notice shall also specify the Interest Period (if applicable) to be applicable thereto upon such continuation or conversion. If the Company shall fail to timely deliver such a notice with respect to any outstanding Loan, the Company shall be deemed to have elected to convert such Loan to a Base Rate Loan on the last day of the then current Interest Period with respect to such advance.
Conversions of Loans. The Borrowers shall have the right to convert Loans of one type into Loans of another type from time to time, provided that: (i) NPDC, MXL or GPC, on behalf of the GPC Borrowers, shall give the Agent notice of each such conversion as provided in Section 2.2 hereof; (ii) Fixed Rate Loans may be converted only on the last day of an Interest Period for such Loans; and (iii) no Prime Rate Loan may be converted into a Fixed Rate Loan if on the proposed date of conversion a Default or an Event of Default exists. The Agent shall use its best efforts to notify NPDC, MXL or GPC, on behalf of the GPC Borrowers, of the effectiveness of such conversion, and the new interest rate to which the converted Loans are subject, as soon as practicable after the conversion; provided, however, that any failure to give such notice shall not result in any liability of the Agent or affect the Borrowers' Obligations, or the Agent's or the Banks' rights and remedies, hereunder in any way whatsoever.
