Common use of Conversions or Continuation of Borrowings Clause in Contracts

Conversions or Continuation of Borrowings. (a) Subject to the other provisions of this Credit Agreement, the Borrower may elect from time to time to convert (i) all or any part of Eurodollar Loans which comprise part of the same Eurodollar Borrowing to a Borrowing comprised of ABR Loans and (ii) all or any part of ABR Loans which comprise part of the same Borrowing to a Borrowing comprised of Eurodollar Loans, provided, however, in each case that any such conversion of Revolving Credit Loans comprising a Eurodollar Borrowing shall, subject to the second following sentence, only be made on the last day of a Eurodollar Interest Period with respect thereto. All or any part of a Borrowing may be converted as provided herein, provided that no Borrowing may be converted into a Eurodollar Borrowing when any Default or Event of Default has occurred and is continuing. (b) Any Eurodollar Borrowing may be continued as such effective upon the expiration of the Eurodollar Interest Period with respect thereto; provided, that no Eurodollar Borrowing may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to an ABR Borrowing on the last day of then current Eurodollar Interest Period with respect thereto. (c) In order to elect to convert or continue a Borrowing, or any portion thereof, under this Section 2.4, the Borrower shall deliver an irrevocable Notice of Conversion or Continuation to the Agent not later than 1:00 p.m., Houston, Texas time, (i) at least three (3) Business Days in advance of the proposed conversion or continuation date in the case of a conversion to, or continuation of, a Eurodollar Borrowing and (ii) at least one (1) Business Day in advance of the proposed conversion date in the case of a conversion to an ABR Borrowing. Each such Notice of Conversion or Continuation shall be by telecopy (confirmed thereafter by a delivery of the original of such Notice of Conversion or Continuation by United States mail or a reputable courier) and shall specify (v) the date of the requested conversion or continuation (which shall be a Business Day), (w) the amount and the Borrowing to be converted or continued, (y) whether a conversion or continuation is requested, and, if a conversion, into what Type of Borrowing and (z) in the case of a conversion to, or a continuation of, a Eurodollar Borrowing, the requested Eurodollar Interest Period. Promptly after receipt of a Notice of Conversion or Continuation under this Section 2.4, the Agent shall provide each Bank with a copy thereof. (d) No Borrowing, or any portion thereof, may be converted into an Eurodollar Borrowing if, after giving effect to such conversion, there would be more than six (6) Eurodollar Borrowings outstanding at such time. (e) If the Borrower shall fail to deliver a timely Notice of Conversion or Continuation with respect to any Eurodollar Borrowing, the Borrower shall be deemed to have elected to convert such Eurodollar Borrowing to an ABR Borrowing on the last day of the Eurodollar Interest Period with respect to such Eurodollar Borrowing. (f) For purposes of this Section 2.4, Borrowings having different Eurodollar Interest Periods, regardless of whether they commence on the same date or are of the same Type shall be considered Borrowings of different Types.

Conversions or Continuation of Borrowings. (a) Subject to ----------------------------------------- the other provisions of this Credit Agreement, the Borrower may elect from time to time to convert (i) all or any part of Eurodollar LIBOR Rate Loans which comprise part of the same Eurodollar LIBOR Rate Borrowing to a Borrowing comprised of ABR Loans Alternate Base Rate Loans, and (ii) all or any part of ABR Alternate Base Rate Loans which comprise part of the same Borrowing to a Borrowing comprised of Eurodollar LIBOR Rate Loans, provided, -------- however, in each case that any such conversion of Revolving Credit Loans comprising a Eurodollar LIBOR Rate ------- Borrowing shall, subject to the second following sentence, only be made on the last day of a Eurodollar Interest Period with respect thereto. All or any part of a Borrowing may be converted as provided herein, provided that no Borrowing may be -------- converted into a Eurodollar LIBOR Rate Borrowing when any Default or Event of Default has occurred and is continuing. (b) Any Eurodollar LIBOR Rate Borrowing may be continued as such effective upon the expiration of the Eurodollar Interest Period with respect thereto; provided, that no Eurodollar LIBOR -------- Rate Borrowing may be continued as such when any Default or Event of Default has occurred and is continuing, but in such event shall be automatically converted to an ABR Alternate Base Rate Borrowing on the last day of the then current Eurodollar Interest Period with respect thereto. (c) In order to elect to convert or continue a Borrowing, or any portion thereof, under this Section 2.42.07, the Borrower shall deliver an irrevocable Notice ------------ of Conversion or Continuation to the Agent not later than 1:00 p.m., Houston, Texas time, (i) at least three (3) Business Days in advance of the proposed conversion or continuation date in the case of a conversion to, or continuation of, a Eurodollar LIBOR Rate Borrowing and (ii) at least one (1) Business Day in advance of the proposed conversion date in the case of a conversion to an ABR Alternate Base Rate Borrowing. Each such Notice of Conversion or Continuation shall be by telecopy (confirmed thereafter by a delivery of the original of such Notice of Conversion or Continuation by United States mail or a reputable courier) and shall specify (v) the date of the requested conversion or continuation (which shall be a Business Day), (w) the amount and the Borrowing to be converted or continued, (y) whether a conversion or continuation is requested, and, if a conversion, into what Type of Borrowing and (z) in the case of a conversion to, or a continuation of, a Eurodollar an LIBOR Rate Borrowing, the requested Eurodollar Interest Period. Promptly after receipt of a Notice of Conversion or Continuation under this Section 2.42.07, the Agent shall provide each Bank with a copy thereof. (d) No Borrowing, or any portion thereof, may be converted into an Eurodollar LIBOR Rate Borrowing if, after giving effect to such conversion, there would be more than six eight (6) Eurodollar 8) LIBOR Rate Borrowings outstanding at such time. (e) If the Borrower shall fail to deliver a timely Notice of Conversion or Continuation with respect to any Eurodollar LIBOR Rate Borrowing, the Borrower shall be deemed to have elected to convert such Eurodollar LIBOR Rate Borrowing to an ABR Alternate Base Rate Borrowing on the last day of the Eurodollar Interest Period with respect to such Eurodollar LIBOR Rate Borrowing. (f) For purposes of this Section 2.42.07, Borrowings having different Eurodollar Interest ------------ Periods, regardless of whether they commence on the same date or are of the same Type shall be considered Borrowings of different Types.

Conversions or Continuation of Borrowings. (a) Subject to the other provisions of this Credit Agreement, the Borrower may elect from time to time to convert (i) all or any part of Eurodollar Rate Loans which comprise part of the same Eurodollar Rate Borrowing to a Borrowing comprised of ABR Loans Base Rate Loans, and (ii) all or any part of ABR Base Rate Loans which comprise part of the same Borrowing to a Borrowing comprised of Eurodollar Rate Loans, provided, however, in each case provided that any such conversion of Revolving Credit Loans comprising a Eurodollar Rate Borrowing shall, subject to the second following sentence, shall only be made on the last day of a Eurodollar an Interest Period with respect thereto. All or any part of a Borrowing may be converted as provided herein, provided that no Borrowing may be converted into a Eurodollar Rate Borrowing when any Default or Event of Default has occurred and is continuing. (b) Any Eurodollar Rate Borrowing may be continued as such effective upon the expiration of the Eurodollar Interest Period with respect thereto; provided, provided that no Eurodollar Rate Borrowing may be continued as such when any Default or Event of Default has occurred and is continuing, but in such event shall be automatically converted to an ABR Base Rate Borrowing on the last day of the then current Eurodollar Interest Period with respect thereto. (c) In order to elect to convert or continue a Borrowing, or any portion thereof, under this Section 2.42.06, the Borrower shall deliver an irrevocable Notice of Conversion or Continuation to the Administrative Agent not later than 1:00 p.m.11:00 a.m., HoustonDallas, Texas time, (i) at least three (3) Business Days in advance of the proposed conversion or continuation date in the case of a conversion to, or continuation of, a Eurodollar Rate Borrowing and (ii) at least one (1) Business Day in advance of on the proposed conversion date in the case of a conversion to an ABR a Base Rate Borrowing. Each such Notice of Conversion or Continuation shall be by telecopy (confirmed thereafter by a delivery of the original of such Notice of Conversion or Continuation by United States mail or a reputable courier) and shall specify (v) the date of the requested conversion or continuation (which shall be a Business Day), (w) the amount and of the Borrowing to be converted or continued, (y) whether a conversion or continuation is requested, and, if a conversion, into what Type of Borrowing and (z) in the case of a conversion to, or a continuation of, a Eurodollar Rate Borrowing, the requested Eurodollar Interest Period. Promptly after receipt of a Notice of Conversion or Continuation under this Section 2.42.06, the Administrative Agent shall provide notify each Bank with a copy Lender thereof. (d) No Borrowing, or any portion thereof, may be converted into an a Eurodollar Rate Borrowing if, after giving effect to such conversion, there would be more than six (6) Eurodollar Borrowings eight Interest Periods outstanding at such time. (e) If the Borrower shall fail to deliver a timely Notice of Conversion or Continuation with respect to any Eurodollar Rate Borrowing, the Borrower shall be deemed to have elected to convert such Eurodollar Rate Borrowing to an ABR a Base Rate Borrowing on the last day of the Eurodollar Interest Period with respect to such Eurodollar Rate Borrowing. (f) For purposes of this Section 2.42.06, Borrowings having different Eurodollar Interest Periods, regardless of whether they commence on the same date or are of the same Type shall be considered Borrowings of different TypesBorrowings.

Conversions or Continuation of Borrowings. (a) Subject to ----------------------------------------- the other provisions of this Credit Agreement, the Borrower may elect from time to time to convert (i) all or any part of Eurodollar LIBOR Loans which comprise part of the same Eurodollar LIBOR Borrowing to a Borrowing comprised of ABR Alternate Base Loans and (ii) all or any part of ABR Alternate Base Loans which comprise part of the same Borrowing to a Borrowing comprised of Eurodollar LIBOR Loans, provided, however, in each -------- ------- case that any such conversion of Revolving Credit Loans comprising a Eurodollar LIBOR Borrowing shall, subject to the second following sentence, only be made on the last day of a Eurodollar LIBOR Interest Period with respect thereto. All or any part of a Borrowing may be converted as provided herein, provided that no Borrowing may be converted -------- into a Eurodollar LIBOR Borrowing when any Default or Event of Default has occurred and is continuing. (b) Any Eurodollar LIBOR Borrowing may be continued as such effective upon the expiration of the Eurodollar LIBOR Interest Period with respect thereto; provided, that no Eurodollar -------- LIBOR Borrowing may be continued as such when any Default or Event of Default has occurred and is continuing, but in such event shall be automatically converted to an ABR Alternate Base Borrowing on the last day of the then current Eurodollar LIBOR Interest Period with respect thereto. (c) In order to elect to convert or continue a Borrowing, or any portion thereof, under this Section 2.42.06, the Borrower shall deliver an irrevocable Notice ------------ of Conversion or Continuation to the Agent not later than 1:00 p.m., Houston, Texas time, (i) at least three (3) Business Days in advance of the proposed conversion or continuation date in the case of a conversion to, or continuation of, a Eurodollar LIBOR Borrowing and (ii) at least one (1) Business Day in advance of the proposed conversion date in the case of a conversion to an ABR Alternate Base Borrowing. Each such Notice of Conversion or Continuation shall be by telecopy (confirmed thereafter by a delivery of the original of such Notice of Conversion or Continuation by United States mail or a reputable courier) and shall specify (v) the date of the requested conversion or continuation (which shall be a Business Day), (w) the amount and the Borrowing to be converted or continued, (y) whether a conversion or continuation is requested, and, if a conversion, into what Type of Borrowing and (z) in the case of a conversion to, or a continuation of, a Eurodollar an LIBOR Borrowing, the requested Eurodollar LIBOR Interest Period. Promptly after receipt of a Notice of Conversion or Continuation under this Section 2.42.06, the Agent shall provide each Bank with a copy thereof.. ------------ (d) No Borrowing, or any portion thereof, may be converted into an Eurodollar LIBOR Borrowing if, after giving effect to such conversion, there would be more than six eight (6) Eurodollar 8) LIBOR Borrowings outstanding at such time. (e) If the Borrower shall fail to deliver a timely Notice of Conversion or Continuation with respect to any Eurodollar LIBOR Borrowing, the Borrower shall be deemed to have elected to convert such Eurodollar LIBOR Borrowing to an ABR Alternate Base Borrowing on the last day of the Eurodollar LIBOR Interest Period with respect to such Eurodollar LIBOR Borrowing. (f) For purposes of this Section 2.42.06, Borrowings having different Eurodollar LIBOR ------------ Interest Periods, regardless of whether they commence on the same date or are of the same Type shall be considered Borrowings of different Types.

Conversions or Continuation of Borrowings. (a) Subject to the other provisions of this Credit Agreement, the Borrower may elect from time to time to convert (i) all or any part of Eurodollar Loans which comprise part of the same Eurodollar Borrowing to a Borrowing comprised of ABR Base Rate Loans and (ii) all or any part of ABR Base Rate Loans which comprise part of the same Borrowing to a Borrowing comprised of Eurodollar Loans, provided, however, in each case that any such conversion of Revolving Credit Loans comprising a Eurodollar Borrowing shall, subject to the second following sentence, only be made on the last day of a Eurodollar Interest Period with respect thereto. All or any part of a Borrowing may be converted as provided herein, provided that no Borrowing may be converted into a Eurodollar Borrowing when any Default or Event of Default has occurred and is continuing. (b) Any Eurodollar Borrowing may be continued as such effective upon the expiration of the Eurodollar Interest Period with respect thereto; provided, that no Eurodollar Borrowing may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to an ABR a Base Rate Borrowing on the last day of then current Eurodollar Interest Period with respect thereto. (c) In order to elect to convert or continue a Borrowing, or any portion thereof, under this Section 2.4, the Borrower shall deliver an irrevocable Notice of Conversion or Continuation to the Agent not later than 1:00 p.m.11:00 a.m., HoustonNew York, Texas New York time, (i) at least three two (32) Business Days in advance of the proposed conversion or continuation date in the case of a conversion to, or continuation of, a Eurodollar Borrowing and (ii) at least one (1) Business Day in advance of the proposed conversion date in the case of a conversion to an ABR a Base Rate Borrowing. Each such Notice of Conversion or Continuation shall be by telecopy (confirmed thereafter by a delivery of the original of such Notice of Conversion or Continuation by United States mail or a reputable courier) and shall specify (vi) the date of the requested conversion or continuation (which shall be a Business Day), (wii) the amount and the Borrowing to be converted or continued, (yiii) whether a conversion or continuation is requested, and, if a conversion, into what Type of Borrowing and (ziv) in the case of a conversion to, or a continuation of, a Eurodollar Borrowing, the requested Eurodollar Interest Period. Promptly after receipt of a Notice of Conversion or Continuation under this Section 2.4, the Agent shall provide each Bank with a copy thereof. (d) No Borrowing, or any portion thereof, may be converted into an Eurodollar Borrowing if, after giving effect to such conversion, there would be more than six (6) Eurodollar Borrowings outstanding at such time. (e) If the Borrower shall fail to deliver a timely Notice of Conversion or Continuation with respect to any Eurodollar Borrowing, the Borrower shall be deemed to have elected to convert such Eurodollar Borrowing to an ABR a Base Rate Borrowing on the last day of the Eurodollar Interest Period with respect to such Eurodollar Borrowing. (f) For purposes of this Section 2.4, Borrowings having different Eurodollar Interest Periods, regardless of whether they commence on the same date or are of the same Type shall be considered Borrowings of different Types.

Conversions or Continuation of Borrowings. (a) Subject to the other provisions of this Credit Agreement, the Borrower may elect from time to time to convert (i) all or any part of Eurodollar Loans which comprise part of the same Eurodollar Borrowing to a Borrowing comprised of ABR Base Rate Loans and (ii) all or any part of ABR Base Rate Loans which comprise part of the same Borrowing to a Borrowing comprised of Eurodollar Loans, providedPROVIDED, howeverHOWEVER, in each case that any such conversion of Revolving Credit Eurodollar Loans comprising a Eurodollar Borrowing shall, subject to the second following sentence, shall only be made on the last day of a Eurodollar the applicable Interest Period with respect thereto. All or any part of a Borrowing may be converted as provided herein, provided PROVIDED that no Borrowing may be converted into a Eurodollar Borrowing when any Default or Event of Default has occurred and is continuing. (b) Any Eurodollar Borrowing may be continued as such effective upon the expiration of the Eurodollar applicable Interest Period with respect thereto; providedPROVIDED, that no Eurodollar Borrowing may be continued as such when any Default or Event of Default has occurred and is continuing, but in such event shall be automatically converted to an ABR a Borrowing comprised of Base Rate Loans on the last day of the then current Eurodollar Interest Period with respect thereto. (c) In order to elect to convert or continue a an Eurodollar Borrowing, or any portion thereof, under this Section SECTION 2.4, the Borrower shall deliver an irrevocable Notice of Conversion or Continuation to the Agent not later than 1:00 12:00 p.m., Houston, Texas New York time, (i) at least three (3) Business Days in advance of the proposed conversion or continuation date in the case of a conversion to, or continuation of, a an Eurodollar Borrowing and (ii) at least one (1) Business Day in advance of the proposed conversion date in the case of a conversion to an ABR Borrowing. Each such Notice of Conversion or Continuation shall be by telecopy (confirmed thereafter by a delivery of the original of such Notice of Conversion or Continuation by United States mail or a reputable courier) and shall specify (v) the date of the requested conversion or continuation (which shall be a Business Day), (w) the amount and the Borrowing to be converted or continued, (y) whether a conversion or continuation is requested, and, if a conversion, into what Type of Borrowing and (z) in the case of a conversion to, or a continuation of, a an Eurodollar Borrowing, the requested Eurodollar Interest Period. Promptly after receipt of a Notice of Conversion or Continuation under this Section SECTION 2.4, the Agent shall provide each Bank with a copy thereof. (d) No Borrowing, or any portion thereof, may be converted into an Eurodollar Borrowing if, after giving effect to such conversion, there would be more than six eight (6) 8) Eurodollar Borrowings outstanding at such time. (e) If the Borrower shall fail to deliver a timely Notice of Conversion or Continuation with respect to any Eurodollar Borrowing, the Borrower shall be deemed to have elected to convert such Eurodollar Borrowing to an ABR a Base Rate Borrowing on the last day of the Eurodollar Interest Period with respect to such Eurodollar Borrowing. (f) For purposes of this Section SECTION 2.4, Eurodollar Borrowings having different Eurodollar Interest Periods, regardless of whether they commence on the same date or are of the same Type shall be considered Eurodollar Borrowings of different Types.