Common use of Designation and Conversions of Outstanding Advances Clause in Contracts

Designation and Conversions of Outstanding Advances. Subject --------------------------------------------------- to the terms and conditions of this Agreement, the Company shall designate, on any Borrowing Date, all or portions of the Warehousing Loans or Swingline Loans to be made on such Borrowing Date as one or more Eurodollar Advances, Balance Funded Rate Advances or Reference Rate Advances. Any portion of an outstanding Loan not designated as a Reference Rate Advance or a Balance Funded Rate Advance shall be funded as a Eurodollar Advance. Thereafter, subject to the terms and conditions of this Agreement, the Company shall have the option to convert all or any portion of any outstanding Advance consisting of Warehousing Loans or Swingline Loans into Advances of another type (i.e., Eurodollar Advances, Balance Funded Rate Advances or Reference Rate Advances); provided, however, that (i) no Advance may be requested as or converted into a Eurodollar Advance or, without the written consent of the Lender to which it is owed (a copy of which shall be provided to the Agent), a Balance Funded Rate Advance if an Event of Default or Unmatured Event of Default has occurred and is continuing on the proposed date of conversion, and (ii) no Advance owed to any Lender may be requested as or converted into a Balance Funded Rate Advance without the prior consent of such Lender, which shall be confirmed to the Agent in writing by such Lender, if the Reserve-Adjusted Balances maintained by the Company at such Lender are less than the aggregate amount of Balance Funded Rate Advances owed to such Lender, after giving effect to such conversion. The Company shall provide the Agent with telephonic notice of each proposed conversion not later than 1:00 P.M. (Minneapolis time) on the date of any conversion, which notice shall set forth the proposed date therefor. Each such notice shall specify (A) the amount to be converted, and (B) the date for the conversion. Any notice given by the Company under this Section 2.02(c) shall be irrevocable. The Company shall promptly confirm any such proposed conversion by delivering to the Agent a duly completed and executed Confirmation of Borrowing/Paydown/ Conversion. The Agent shall notify each Lender affected by such proposed conversion by not later than 2:00 P.M. (Minneapolis time) on the date it receives such notice of the Advances of such Lender being converted and the types of Advances into which such Advances are being converted.

Designation and Conversions of Outstanding Advances. Subject --------------------------------------------------- to the terms and conditions of this Agreement, the Company shall designate, on any Borrowing Date, all or portions of the Warehousing Loans or Swingline Loans to be made on such Borrowing Date as one or more Eurodollar Advances, Balance Funded Fixed Rate Advances or Reference Rate Advances. Any portion of an outstanding Loan not designated as a Reference Rate Advance or a Balance Funded Fixed Rate Advance shall be funded as a Eurodollar Advance. Thereafter, subject to the terms and conditions of this Agreement, the Company shall have the option to convert all or any portion of any outstanding Advance consisting of Warehousing Loans or Swingline Loans into Advances of another type (i.e., Eurodollar Advances, Balance Funded Fixed Rate Advances or Reference Rate Advances); provided, however, that (i) no i)no Advance may be requested as or converted into a Eurodollar Advance or, without the written consent of the Lender to which it is owed (a copy of which shall be provided to the Agent), a Balance Funded Fixed Rate Advance if an Event of Default or Unmatured Event of Default has occurred and is continuing on the proposed date of conversion, and (ii) no ii)no Advance owed to any Lender may be requested as or converted into a Balance Funded Fixed Rate Advance without the prior consent of such Lender, which shall be confirmed to the Agent in writing by such Lender, if the Reserve-Adjusted Balances maintained by the Company at such Lender are less than the aggregate amount of Balance Funded Fixed Rate Advances owed to such Lender, after giving effect to such conversion. The Company shall provide the Agent with telephonic notice of each proposed conversion not later than 1:00 P.M. (Minneapolis time) on the date of any conversion, which notice shall set forth the proposed date therefor. Each such notice shall specify (A) the A)the amount to be converted, and (B) the B)the date for the conversion. Any notice given by the Company under this Section 2.02(c) shall be irrevocable. The Company shall promptly confirm any such proposed conversion by delivering to the Agent a duly completed and executed Confirmation of Borrowing/Paydown/ Paydown/Conversion. The Agent shall notify each Lender affected by such proposed conversion by not later than 2:00 1:30 P.M. (Minneapolis time) on the date it receives such notice of the Advances of such Lender being converted and the types of Advances into which such Advances are being converted.

Designation and Conversions of Outstanding Advances. Subject --------------------------------------------------- to the terms and conditions of this Agreement, the Company shall designate, on any Borrowing Date, all or portions of the Warehousing Loans or Swingline Loans to be made on such Borrowing Date as one or more Eurodollar LIBOR Rate Advances, Balance Funded Rate Advances or Reference Prime Rate Advances. Any portion of an outstanding Loan not designated as a Reference Prime Rate Advance or a Balance Funded Rate Advance shall be funded as a Eurodollar LIBOR Rate Advance. Thereafter, subject to the terms and conditions of this Agreement, the Company shall have the option to convert all or any portion of any outstanding Advance consisting of Warehousing Loans or Swingline Loans into Advances of another type (i.e., Eurodollar LIBOR Rate Advances, Balance Funded Rate Advances or Reference Prime Rate Advances); provided, however, that (i) no Advance may be requested as or converted into a Eurodollar Advance Balance Funded Rate or, [without the written consent of the Lender Lenders to which it is owed (a copy of which shall be provided to the Agent), ) a Balance Funded Rate Advance if an Event of Default or Unmatured Event of Default has occurred and is continuing on the proposed date of conversion, and (ii) no Advance owed to any Lender may be requested as or converted into a Balance Funded Rate Advance without the prior consent of such Lender, which shall be confirmed to the Agent in writing by such Lender, if the Reserve-Adjusted Balances Balance Funded Amount maintained by the Company at such Lender are is less than the aggregate amount of Balance Funded Rate Advances owed to such Lender, after giving effect to such conversion. The Company shall provide the Agent with telephonic notice of each proposed conversion not later than 1:00 P.M. (Minneapolis Minneapolis, Minnesota time) on the date of any conversion, which notice shall set forth the proposed date therefor. Each such notice shall specify (A) the amount to be converted, and (B) the date for the conversion. Any notice given by the Company under this Section 2.02(c2.04(c) shall be irrevocable. The Company shall promptly confirm any such proposed conversion by delivering to the Agent a duly completed and executed Confirmation of Borrowing/Paydown/ ConversionConfirmation. The Agent shall notify each Lender affected by such proposed conversion by not later than 2:00 P.M. (Minneapolis Minneapolis, Minnesota time) on the date it receives such notice of the Advances of such Lender being converted and the types of Advances into which such Advances are being converted.

Designation and Conversions of Outstanding Advances. Subject --------------------------------------------------- to the terms and conditions of this Agreement, the Company Borrower shall designate, on any Borrowing Date, all or portions of the Warehousing Loans or Swingline Loans to be made on such Borrowing Date as one or more Eurodollar Rate Advances, Balance Funded Rate Advances or Reference Rate Advances. Any portion of an outstanding Loan not designated as a Reference Rate Advance or a Balance Funded Rate Advance shall be funded as a Eurodollar Rate Advance. Thereafter, subject to the terms and conditions of this Agreement, the Company Borrower shall have the option to convert all or any portion of any outstanding Advance consisting of Warehousing Loans or Swingline Loans into Advances of another type (i.e., Eurodollar Rate Advances, Balance Funded Rate Advances or Reference Rate Advances); providedPROVIDED, howeverHOWEVER, that (i) no Advance may be requested as or converted into a Eurodollar Advance Balance Funded Rate or, [without the written consent of the Lender Lenders to which it is owed (a copy of which shall be provided to the Agent), ) a Balance Funded Rate Advance if an Event of Default or Unmatured Event of Default has occurred and is continuing on the proposed date of conversion, and (ii) no Advance owed to any Lender may be requested as or converted into a Balance Funded Rate Advance without the prior consent of such Lender, which shall be confirmed to the Agent in writing by such Lender, if the Reserve-Adjusted Balances Balance Funded Amount maintained by the Company Borrower at such Lender are is less than the aggregate amount of Balance Funded Rate Advances owed to such Lender, after giving effect to such conversion. The Company Borrower shall provide the Agent with telephonic notice of each proposed conversion not later than 1:00 P.M. (Minneapolis Minneapolis, Minnesota time) on the date of any conversion, which notice shall set forth the proposed date therefor. Each such notice shall specify (A) the amount to be converted, and (B) the date for the conversion. Any notice given by the Company Borrower under this Section 2.02(c2.04(c) shall be irrevocable. The Company Borrower shall promptly confirm any such proposed conversion by delivering to the Agent a duly completed and executed Confirmation of Borrowing/Paydown/ ConversionConfirmation. The Agent shall notify each Lender affected by such proposed conversion by not later than 2:00 P.M. (Minneapolis Minneapolis, Minnesota time) on the date it receives such notice of the Advances of such Lender being converted and the types of Advances into which such Advances are being converted.

Designation and Conversions of Outstanding Advances. Subject --------------------------------------------------- to the terms and conditions of this Agreement, the Company shall designate, on any Borrowing Date, all or portions of the Warehousing Loans or Swingline Loans to be made on such Borrowing Date as one or more Eurodollar Advances, Balance Funded Fixed Rate Advances or Reference Rate Advances. Any portion of an outstanding Loan not designated as a Reference Rate Advance or a Balance Funded Fixed Rate Advance shall be funded as a an Eurodollar Advance. Thereafter, subject to the terms and conditions of this Agreement, the Company shall have the option to convert all or any portion of any outstanding Advance consisting of Warehousing Loans or Swingline Loans into Advances of another type (i.e., Eurodollar Advances, Balance Funded Fixed Rate Advances or Reference Rate Advances); provided, however, that (i) no Advance may be requested as or converted into a Eurodollar Advance or, without the written consent of the Lender to which it is owed (a copy of which shall be provided to the Agent), a Balance Funded Fixed Rate Advance if an Event of Default or Unmatured Event of Default has occurred and is continuing on the proposed date of conversion, and (ii) no Advance owed to any Lender may be requested as or converted into a Balance Funded Fixed Rate Advance without the prior consent of such Lender, which shall be confirmed to the Agent in writing by such Lender, if the Reserve-Adjusted Balances maintained by the Company at such Lender are less than the aggregate amount of Balance Funded Fixed Rate Advances owed to such Lender, after giving effect to such conversion. The Company shall provide the Agent with telephonic notice of each proposed conversion or continuation not later than 1:00 P.M. (Minneapolis time) on the date of any conversion, which notice shall set forth the proposed date therefor. Each such notice shall specify (A) the amount to be continued or converted, and (B) the date for the continuation or conversion. Any notice given by the Company under this Section 2.02(c2.03(d) shall be irrevocable. The Company shall promptly confirm any such proposed conversion by delivering to the Agent a duly completed and executed Confirmation of Borrowing/Paydown/ Conversion. The Agent shall notify each Lender affected by such proposed conversion by not later than 2:00 2:30 P.M. (Minneapolis time) on the date it receives such notice of the Advances of such Lender being converted and the types of Advances into which such Advances are being converted.

Designation and Conversions of Outstanding Advances. Subject --------------------------------------------------- to the terms and conditions of this Agreement, the Company shall designate, on any Borrowing Date, all or portions of the Warehousing Loans or Swingline Working Capital Loans to be made on such Borrowing Date as one or more Eurodollar Advances, Balance Funded Fixed Rate Advances or Reference Rate Advances. Any portion of an outstanding Working Capital Loan not designated as a Reference Rate Advance or a Balance Funded Fixed Rate Advance shall be funded as a Eurodollar Reference Rate Advance. Thereafter, subject to the terms term and conditions of this Agreement, the Company shall have the option to convert all or any portion of any outstanding Advance consisting of Warehousing Loans or Swingline Working Capital Loans into Advances of another the other type (i.e., Eurodollar Advances, Balance Funded Fixed Rate Advances or Reference Rate Advances); provided, however, that (i) no Advance may be requested as or converted into a Eurodollar Advance or, without the written consent of the Lender to which it is owed (a copy of which shall be provided to the Agent), ) into a Balance Funded Fixed Rate Advance if an Event of Default or Unmatured Event of Default has occurred and is continuing on the proposed date of conversion, and (ii) no Advance owed to any Lender may be requested as or converted into a Balance Funded Fixed Rate Advance without the prior consent of such Lender, which shall be confirmed to the Agent in writing by such Lender, if the Reserve-Reserve- Adjusted Balances maintained by the Company at such Lender are less than the aggregate amount of Balance Funded Fixed Rate Advances owed owned to such Lender, after giving effect to such conversion. The Company shall provide the Agent with telephonic notice of each proposed conversion or continuation not later than 1:00 P.M. (Minneapolis time) on the date of any conversion, which notice shall set forth the proposed date therefor. Each such notice shall specify (A) the amount to be continued or converted, and (B) the date for the continuation or conversion. Any notice given by the Company under this Section 2.02(c2.04(c) shall be irrevocable. The Company shall promptly confirm any such proposed conversion by delivering to the Agent a duly completed and executed Confirmation of Borrowing/Paydown/ Conversion. The Agent shall notify each Lender affected by such proposed conversion by not later than 2:00 2:30 P.M. (Minneapolis time) on the date it receives such notice of the Advances of such Lender being converted and the types of Advances into which such Advances are being converted.

Designation and Conversions of Outstanding Advances. Subject --------------------------------------------------- to the terms and conditions of this Agreement, the Company shall designate, on any Borrowing Date, all or portions of the Warehousing Loans or Swingline Loans to be made on such Borrowing Date as one or more Eurodollar LIBOR Rate Advances, Balance Funded Rate Advances or Reference Prime Rate Advances. Any portion of an outstanding Loan not designated as a Reference Prime Rate Advance or a Balance Funded Rate Advance shall be funded as a Eurodollar LIBOR Rate Advance. Thereafter, subject to the terms and conditions of this Agreement, the Company shall have the option to convert all or any portion of any outstanding Advance consisting of Warehousing Loans or Swingline Loans into Advances of another type (i.e., Eurodollar LIBOR Rate Advances, Balance Funded Rate Advances or Reference Prime Rate Advances); provided, however, that (i) no Advance may be requested as or converted into a Eurodollar Advance Balance Funded Rate or, without the written consent of the Lender Lenders to which it is owed (a copy of which shall be provided to the Agent), ) a Balance Funded Rate Advance if an Event of Default or Unmatured Event of Default has occurred and is continuing on the proposed date of conversion, and (ii) no Advance owed to any Lender may be requested as or converted into a Balance Funded Rate Advance without the prior consent of such Lender, which shall be confirmed to the Agent in writing by such Lender, if the Reserve-Adjusted Balances Balance Funded Amount maintained by the Company at such Lender are is less than the aggregate amount of Balance Funded Rate Advances owed to such Lender, after giving effect to such conversion. The Company shall provide the Agent with telephonic notice of each proposed conversion not later than 1:00 P.M. (Minneapolis Minneapolis, Minnesota time) on the date of any conversion, which notice shall set forth the proposed date therefor. Each such notice shall specify (A) the amount to be converted, and (B) the date for the conversion. Any notice given by the Company under this Section 2.02(c2.04(c) shall be irrevocable. The Company shall promptly confirm any such proposed conversion by delivering to the Agent a duly completed and executed Confirmation of Borrowing/Paydown/ ConversionConfirmation. The Agent shall notify each Lender affected by such proposed conversion by not later than 2:00 P.M. (Minneapolis Minneapolis, Minnesota time) on the date it receives such notice of the Advances of such Lender being converted and the types of Advances into which such Advances are being converted.

Designation and Conversions of Outstanding Advances. Subject --------------------------------------------------- to the terms and conditions of this Agreement, the Company shall designate, on any Borrowing Date, all or portions of the Warehousing Loans or Swingline Loans to be made on such Borrowing Date as one or more Eurodollar Advances, Balance Funded Fixed Rate Advances or Reference Rate Advances. Any portion of an outstanding Loan not designated as a Reference Rate Advance or a Balance Funded Fixed Rate Advance shall be funded as a an Eurodollar Advance. Thereafter, subject to the terms and conditions of this Agreement, the Company shall have the option to convert all or any portion of any outstanding Advance consisting of Warehousing Loans or Swingline Loans into Advances of another type (i.e., Eurodollar Advances, Balance Funded Fixed Rate Advances or Reference Rate Advances); provided, however, that (i) no Advance may be requested as or converted into a Eurodollar Advance or, without the written consent of the Lender Bank to which it is owed (a copy of which shall be provided to the Agent), a Balance Funded Fixed Rate Advance if an Event of Default or Unmatured Event of Default has occurred and is continuing on the proposed date of conversion, and (ii) no Advance owed to any Lender Bank may be requested as or converted into a Balance Funded Fixed Rate Advance without the prior consent of such LenderBank, which shall be confirmed to the Agent in writing by such LenderBank, if the Reserve-Adjusted Balances maintained by the Company at such Lender Bank are less than the aggregate amount of Balance Funded Fixed Rate Advances owed to such LenderBank, after giving effect to such conversion. The Company shall provide the Agent with telephonic notice of each proposed conversion or continuation not later than 1:00 P.M. 12:00 noon (Minneapolis time) on the date of any conversion, which notice shall set forth the proposed date therefor. Each such notice shall specify (A) the amount to be continued or converted, and (B) the date for the continuation or conversion. Any notice given by the Company under this Section 2.02(c2.02(d) shall be irrevocable. The Company shall promptly confirm any such proposed conversion by delivering to the Agent a duly completed and executed Confirmation of Borrowing/Paydown/ Paydown/Conversion. The Agent shall notify each Lender Bank affected by such proposed conversion by not later than 2:00 P.M. 1:00 p.m. (Minneapolis time) on the date it receives such notice of the Advances of such Lender Bank being converted and the types of Advances into which such Advances are being converted.

Designation and Conversions of Outstanding Advances. Subject --------------------------------------------------- to the terms and conditions of this Agreement, the Company NCMC shall designate, on any Borrowing Date, all or portions of the Warehousing Loans or Swingline Loans to be made on such Borrowing Date as one or more Eurodollar Advances, Balance Funded Rate Advances, Prime Rate Advances or Reference Rate Eurodollar Advances. Any portion of an outstanding Loan not designated as a Reference Balance Funded Rate Advance or a Balance Funded Prime Rate Advance shall be funded as a Eurodollar Advance. Thereafter, subject to the terms and conditions of this Agreement, the Company NCMC shall have the option to convert all or any portion of any outstanding Advance consisting of Warehousing Loans or Swingline Loans into Advances of another type (i.e., Eurodollar Advances, Balance Funded Rate Advances, Prime Rate Advances or Reference Rate Eurodollar Advances); providedPROVIDED, howeverHOWEVER, that (i) no Advance may be requested as or converted into a Eurodollar Advance or, without the written consent of the Lender to which it is owed (a copy of which shall be provided to the Agent), a Balance Funded Rate Advance if an Event of Default or Unmatured Event of Default has occurred and is continuing on the proposed date of conversion, and (ii) no Advance owed to any Lender may be requested as or converted into a Balance Funded Rate Advance without the prior consent of such Lender, which shall be confirmed to the Agent in writing by such Lender, if the Reserve-Adjusted Balances maintained by the Company Borrowers at such Lender are less than the aggregate amount of Balance Funded Rate Advances owed to such Lender, after giving effect to such conversion. The Company NCMC shall provide the Agent with telephonic notice of each proposed conversion not later than 1:00 P.M. (Minneapolis time) on the date of any conversion, which notice shall set forth the proposed date therefor. Each such notice shall specify (A) the amount to be converted, and (B) the date for the conversion. Any notice given by the Company NCMC under this Section 2.02(c) shall be irrevocable. The Company NCMC shall promptly confirm any such proposed conversion by delivering to the Agent a duly completed and executed Confirmation of Borrowing/Paydown/ Paydown/Conversion. The Agent shall notify each Lender affected by such proposed conversion by not later than 2:00 P.M. (Minneapolis time) on the date it receives such notice of the Advances of such Lender being converted and the types of Advances into which such Advances are being converted.