Designation and Conversion. Borrower shall have the right to designate, continue or convert its Interest Options in accordance with the provisions hereof. Provided no Event of Default has occurred and is continuing and subject to the provisions of Section 3.5, Borrower may elect to have Adjusted LIBOR apply or continue to apply to all or any portion of the principal balance of the Revolving Notes, other than the Swing Loan Note. Each change in Interest Options shall be a conversion of the rate of interest applicable to the specified portion of the Loans, but such conversion shall not change the respective outstanding principal balance of the Revolving Notes. The Interest Options shall be designated or converted in the manner provided below:
(a) Borrower shall give Agent a Request for Loan. Each such written notice shall specify the amount of Loan which is the subject of the designation, if any; the amount of borrowings into which such borrowings are to be converted or for which an Interest Option is designated; the proposed date for the designation, continuation or conversion and the Interest Period, if any, selected by Borrower. The Request for Loan shall be irrevocable and shall be given to Agent no later than the applicable Rate Designation Date. The Agent shall promptly deliver the Request for Loan to the Lenders.
(b) No more than ten (10) LIBOR Borrowings and Competitive Bid Loans with ten (10) Interest Periods shall be in effect at any time.
(c) Each designation, continuation or conversion of a LIBOR Borrowing shall occur on a Business Day.
(d) Except as provided in Section 3.5 hereof, no LIBOR Borrowing shall be converted on any day other than the last day of the applicable Interest Period.
(e) Unless a Request for Loan to the contrary is received as provided in this Agreement, each LIBOR Borrowing will convert to a Base Rate Borrowing after the expiration of the Interest Period.
(f) To the extent that any Default shall have occurred and shall continue to exist, Borrower shall not have the right to elect an Interest Period longer than one (1) month.
Designation and Conversion. Each Borrower shall have the right to designate or convert its Interest Options in accordance with the provisions hereof. Provided no Event of Default has occurred and is continuing and subject to the last sentence of Section 3.3(a) and the provisions of Sections 3.3(c), (d), (e) and (f), each Borrower may elect to have a Eurodollar Rate apply or continue to apply to all or any portion of the outstanding principal balance of its Notes (other than the Canadian Dollar Revolving Notes and the Swing Note). Each change in Interest Options shall be a conversion of the rate of interest applicable to the specified portion of the Loans, but such conversion shall not change the respective outstanding principal balances of the applicable Notes. The Interest Options shall be designated or converted in the manner provided below:
(i) The applicable Borrower shall give the applicable Agent telephonic notice, promptly confirmed by a Rate Designation Notice (and the applicable Agent shall promptly inform each applicable Lender thereof). Each such telephonic and written notice shall specify the amount of the Loan and type (i.e. U.S. Revolving Loan, Canadian Revolving Loan, Singapore Revolving Loan or U.K. Revolving Loan) which is the subject of the designation, if any; the amount of borrowings which are to be converted or for which an Interest Option is designated; the proposed date for the designation or conversion and the Interest Period or Periods, if any, selected by the applicable Borrower. Such telephonic notice shall be irrevocable and shall be given to the applicable Agent no later than the applicable Rate Designation Date.
(ii) No more than four (4) LIBOR Borrowings shall be in effect with respect to the U.S. Revolving Loans at any time, no more than four (4) LIBOR Borrowings shall be in effect with respect to the Canadian Revolving Loans at any time, no more than four (4) LIBOR Borrowings shall be in effect with respect to the Singapore Revolving Loans at any time and no more than four (4) LIBOR Borrowings shall be in effect with respect to the U.K. Revolving Loans at any time. No single LIBOR Borrowing may include any combination of any two or more of U.S. Revolving Loans, Canadian Revolving Loans, Singapore Revolving Loans and U.K. Revolving Loans.
(iii) Each designation or conversion of a LIBOR Borrowing shall occur on a Business Day.
(iv) Except as provided in Sections 3.3(c), (d) and (e) hereof, no LIBOR Borrowing may be converted to a Base Rate Borrowing or ...
Designation and Conversion. 35 3.5 Special Provisions Applicable to Eurodollar Rate Borrowings and Money Market Loans....
Designation and Conversion. Borrower shall have the right to designate or convert its Interest Options in accordance with the provisions hereof. Provided no Event of Default has occurred and is continuing and subject to the last sentence of Section 3.3(a) and the provisions of Section 3.3(c), Borrower may elect to have a Eurodollar Rate apply or continue to apply to all or any portion of the principal balance of the Notes. Each change in Interest Options shall be a conversion of the rate of interest applicable to the specified portion of the Loans, but such conversion shall not change the respective outstanding principal balances of the Notes. The Interest Options shall be designated or converted in the manner provided below: (i) Borrower shall give Agent telephonic notice, promptly confirmed by a Rate Designation Notice (and Agent shall promptly inform each Lender thereof). Each such telephonic and written notice shall specify the amount of the Loan which is the subject of the designation, if any; the amount of borrowings into which such borrowings are to be converted or for which an Interest Option is designated; the proposed date for the designation or conversion and the Interest Period or Periods, if any, selected by Borrower. Such telephonic notice shall be irrevocable and shall be given to Agent no later than the applicable Rate Designation Date.
Designation and Conversion. Borrower shall have the right to designate or convert its Interest Options in accordance with the provisions hereof. Provided no Event of Default has occurred and is continuing and subject to the provisions of Section 3.5, Borrower may elect to have a Eurodollar Rate apply or continue to apply to all or any portion of the principal balance of the Notes. Each change in Interest Options shall be a conversion of the rate of interest applicable to the specified portion of the Loans, but such conversion shall not change the respective outstanding principal balance of the Notes. The Interest Options shall be designated or converted in the manner provided below: (a) Borrower shall give Agent a Request for Conversion. Each such written notice shall specify the amount of Loan which is the subject of the designation, if any; the amount of borrowings into which such borrowings are to be converted or for which an Interest Option is designated; the proposed date for the designation or conversion and the Interest Period, if any, selected by Borrower. The Request for Conversion shall be irrevocable and shall be given to Agent no later than the applicable Rate Designation Date. The Agent shall promptly deliver the Request for Conversion to the Lenders. (b) No more than three (3) Eurodollar Rate Borrowings with three (3) Interest Periods shall be in effect at any time.
Designation and Conversion. Borrower shall have the right to designate or convert its Interest Options in accordance with the provisions hereof. Provided no Event of Default has occurred and is continuing and subject to the provisions of Section 3.5, Borrower may elect to have a Eurodollar Rate apply or continue to apply to all or any portion of the principal balance of the Revolving Notes, other than the Swing Loan Note. Each change in Interest Options shall be a conversion of the rate of interest applicable to the specified portion of the Loans, but such conversion shall not change the respective outstanding principal balance of
Designation and Conversion. A Borrower shall have the right to designate or convert its Interest Options in accordance with the provisions hereof. Provided that no Event of Default has occurred and is continuing and subject to the last sentence of Section 2.1 and the provisions of Section 2.3, a Borrower may elect to have a Euro Rate apply or continue to apply to all or any portion of the principal balance of the Note made by such Borrower. Each change in Interest Options shall be a conversion of the rate of interest applicable to the specified portion of a Loan, but such conversion shall not change the outstanding principal balance of the Note evidencing such Loan. The Interest Options shall be designated or converted in the manner provided below:
(a) A Borrower shall give the Lender a Rate Designation Notice. Each Rate Designation Notice shall be irrevocable and shall be given to the Lender no later than the applicable Rate Designation Date.
(b) No more than three Eurodollar Rate Borrowings shall be in effect at any time.
(c) No more than three Eurosterling Rate Borrowings shall be in effect at any time.
(d) Each designation or conversion of a Euro Borrowing shall occur on a Euro Business Day.
(e) Except as provided in Section 2.3, no Euro Borrowing shall be converted on any day other than the last day of the applicable Interest Period.
(f) Each Eurodollar Rate Borrowing shall be in the amount of at least $250,000.
(g) Each Eurosterling Rate Borrowing shall be in the amount of at least (Pounds)100,000.
Designation and Conversion. Borrower shall have the right to designate, continue or convert its Interest Options in accordance with the provisions hereof. Provided no Event of Default has occurred and is continuing and subject to the provisions of Section 3.5, Borrower may elect to have the Adjusted LIBORTerm SOFR Rate or the Adjusted Daily Simple SOFR Rate apply or continue to apply to all or any portion of the principal balance of the Revolving Notes, other than the Swing Loan Note. Each change in Interest Options shall be a conversion of the rate of interest applicable to the specified portion of the Loans, but such conversion shall not change the respective outstanding principal balance of the Revolving Notes. The Interest Options shall be designated or converted in the manner provided below:
(a) Borrower shall give Agent a Request for Loan. Each such written notice shall specify the amount of Loan which is the subject of the designation, if any; the amount of borrowings into which such borrowings are to be converted or for which an Interest Option is designated; the proposed date for the designation, continuation or conversion and the Interest Period, if any, selected by Borrower. The Request for Loan shall be irrevocable and shall be given to Agent no later than (i) for any conversion to a Base Rate Borrowing, 12:00 noon, Pittsburgh, Pennsylvania time, on the date one (1) Business Day before the date of such proposed conversion, (ii) for any conversion to a Daily Simple SOFR Borrowing, 12:00 noon, Pittsburgh, Pennsylvania time, on the date three (3) U.S. Government Securities Business Days before the date of such proposed conversion or (iii) for any conversion to, or continuation of, a Term SOFR Borrowing, the applicable Rate Designation Date. The Agent shall promptly deliver the Request for Loan to the Lenders.
(b) No more than ten (10) LIBORTerm SOFR Borrowings and Competitive Bid Loans with ten (10) Interest Periods shall be in effect at any time.
(c) Each designation, continuation or conversion of a LIBORSOFR Borrowing shall occur on a U.S. Government Securities Business Day.
(d) Except as provided in Section 3.5 hereof, no LIBORTerm SOFR Borrowing shall be converted on any day other than the last day of the applicable Interest Period.
(e) Unless a Request for Loan to the contrary is received as provided in this Agreement, each LIBORTerm SOFR Borrowing will convert to a Base RateTerm SOFR Borrowing with an Interest Period of one (1) month after the expiration of the current...
Designation and Conversion. 53 3.5 Adjusted Term SOFR Rate or Adjusted Daily Simple SOFR Rate Unascertainable; Increased Costs; Funding Losses; Illegality; Benchmark Replacement Setting ................................................................. 54 3.6
Designation and Conversion. Borrower shall have the right to designate, continue or convert its Interest Options in accordance with the provisions hereof. Provided no Event of Default has occurred and is continuing and subject to the provisions of Section 3.5, Borrower may elect to have the Adjusted Term SOFR Rate or the Adjusted Daily Simple SOFR Rate apply or continue to apply to all or any portion of the principal balance of the Revolving Notes, other than the Swing Loan Note. Each change in Interest Options shall be a conversion of the rate of interest applicable to the specified portion of the Loans, but such conversion shall not change the respective
